Author: Max Bauer
Analysts at Presto Research, Peter Chung and Min Jung, are predicting a resurgence of altcoin activity following the Federal Reserve’s recent decision to cut interest rates by half a percentage point. In a research note published on Friday, Chung and Jung argued that while altcoins have underperformed in the early part of 2025, the Fed’s rate-cut cycle could ignite a long-awaited altcoin season. The analysts attributed the subdued performance of altcoins to higher yields in traditional finance, which have diverted investor attention from riskier crypto assets. However, they anticipate that as on-chain yields become more competitive, it could spark a…
Visa’s Head of Crypto, Cuy Sheffield, has predicted a surge in non-dollar stablecoins in the coming years. Speaking at the Solana Breakpoint event in Singapore on Friday, Sheffield emphasized the importance of these stablecoins for cross-border transactions. While US dollar stablecoins currently dominate the market, Sheffield anticipates that every major fiat currency will eventually have its own on-chain representation. This shift will enable more efficient and localized payments. Sheffield also expressed excitement about the growing number of stablecoins that aim to differentiate themselves from the market leaders, USDT and USDC. He highlighted the increasing consumer awareness of stablecoins and their…
The official YouTube channel of the Supreme Court of India, a platform used to livestream important legal proceedings, was compromised on Friday. Hackers reportedly exploited the channel to broadcast advertisements for cryptocurrency products and upload related videos. The entire YouTube channel has since been taken down. The Supreme Court has been utilizing the platform to allow the public to witness cases of constitutional significance in real-time. While the channel has been deleted, archived videos of previous court proceedings were also affected. These videos have been made private, limiting public access. The channel’s homepage now displays a blank video with a…
A new report reveals that Bhutan has surpassed El Salvador as the third-largest holder of government bitcoin reserves. Despite having a significantly smaller population, Bhutan’s bitcoin holdings are more than twice the value of El Salvador’s. The United States remains the undisputed leader in government bitcoin holdings, followed by the United Kingdom. However, Bhutan’s rapid ascent is a notable development in the cryptocurrency space. Bhutan’s bitcoin holdings primarily stem from its own mining operations, which have expanded significantly since 2019. The country’s sovereign investment arm, Druk Holding & Investments, began mining bitcoin when the cryptocurrency was valued at approximately $5,000.…
Bitcoin’s market dominance has surged to its highest level since April 2021, according to a new report from Kaiko Research. The cryptocurrency now accounts for 54.9% of the total cryptocurrency market capitalization. The report also highlights bitcoin’s resilience during recent market turmoil. Following a sharp sell-off triggered by a surprise interest rate hike in Japan, bitcoin’s cumulative volume delta (CVD) remained positive on U.S. exchanges, indicating a stronger buying pressure compared to altcoins. This trend further solidifies bitcoin’s reputation as a “safe haven” asset during periods of market uncertainty. “Bitcoin’s CVD remained remarkably positive on U.S. exchanges, even amidst one…
A federal judge has dismissed a lawsuit filed by blockchain technology company Consensys against the U.S. Securities and Exchange Commission (SEC) and its Chair, Gary Gensler. The lawsuit, which was originally filed in April, sought to challenge the SEC’s regulatory authority over Ethereum. Among the bombshell allegations in the suit were claims that the SEC had opened an investigation into Ethereum and had issued Consensys a Wells notice. This notice indicated that the SEC was considering filing a lawsuit against the company. While the SEC did eventually file a lawsuit against Consensys, targeting MetaMask Swaps and alleging that Lido and…
Terraform Labs, the company behind the collapsed TerraUSD and Luna cryptocurrencies, has received court approval to wind down its operations. The decision comes after the company reached a settlement with the U.S. Securities and Exchange Commission (SEC) over allegations of defrauding investors. In a hearing on Thursday, U.S. Bankruptcy Judge Brendan Shannon approved Terraform’s bankruptcy plan, calling it a “welcome alternative” to further litigation. The company had filed for bankruptcy in January following the collapse of its cryptocurrencies, which led to an estimated $40 billion in investor losses. As part of the settlement, Terraform agreed to pay a $4.47 billion…
A recent analysis by CryptoQuant has revealed a significant decline in the supply of bitcoin held by short-term holders (STH). This trend, which hasn’t been observed since 2012, is potentially hindering the cryptocurrency’s ability to break out of its current price range. The data shows a shift in bitcoin ownership towards long-term holders (LTH), those who have held their coins for 155 days or more. While this accumulation by LTH is often seen as a precursor to price increases, CryptoQuant’s Head of Research, Julio Moreno, emphasizes the importance of fresh demand from STH to sustain a rally. “Historically, bitcoin’s bull…
Bitcoin’s price surged past $62,000 following the Federal Reserve’s announcement of a rate cut, the first in four years. Market analysts are predicting a potential surge towards a new all-time high, fueled by the increased liquidity and investor confidence. “There’s a significant chance we could see a price pump during the remainder of the year, potentially even pushing Bitcoin towards another all-time high,” said Alice Liu, lead researcher at CoinMarketCap. She highlighted Bitcoin’s historical performance, noting a 90% rally in the fourth quarter over the past decade. The Fed’s decision to cut interest rates by 0.5%, bringing them to a…
Three men who allegedly orchestrated a sophisticated social engineering attack, stealing a staggering $243 million from a single individual last month, have been arrested in Los Angeles thanks to the efforts of online sleuths. Cryptocurrency investigator ZachXBT, who has been following the case, detailed the intricate scheme on X. The perpetrators, identified as Malone Iam (Greavys), Veer Chetal (Wiz), and Jeandiel Serrano (Box), targeted a Genesis creditor by impersonating Google and Gemini support representatives. Through a series of deceptive tactics, they convinced the victim to relinquish control of their accounts, ultimately gaining access to their private keys and draining their…