Author: Andrei Ionescu

Alameda Research, the trading arm of the now-bankrupt cryptocurrency exchange FTX, has filed a lawsuit against Waves founder Aleksandr Ivanov and affiliated entities in a bid to reclaim $90 million. The lawsuit, filed on Sunday, alleges that Alameda seeks the return of assets tied to FTX’s bankruptcy proceedings, claiming the assets had been previously deposited with Vires.Finance, a liquidity platform on the Waves blockchain. According to the filing, Alameda deposited around $80 million in USDT and USDC stablecoins on Vires in March 2022, which were reportedly converted into approximately $90 million worth of the USDN stablecoin. The lawsuit alleges that…

A cold wallet linked to Mt. Gox, the defunct cryptocurrency exchange, moved over $2 billion worth of bitcoin on Sunday, raising speculation that creditor repayments may soon resume. Data from Arkham Intelligence reveals that at 11:39 p.m. UTC, a wallet tagged “1FG2C…Rveoy” transferred approximately 27,871 BTC (valued at $2.24 billion) to a new address, “1Fhod…QLFRT,” and an additional 2,500 BTC (around $200 million) to Mt. Gox’s cold wallet. This activity follows the wallet’s receipt of a combined 30,371 BTC from Mt. Gox just six days prior. The transaction is part of a recent increase in activity across Mt. Gox-linked wallets,…

Bitcoin’s price has surged nearly 20% over the past week, reaching close to $80,000 per bitcoin, fueled by speculation that a nation-state may be quietly accumulating bitcoin, as well as heightened expectations surrounding U.S. president-elect Donald Trump’s pro-bitcoin policies. Rumors are swirling that an undisclosed country has been quietly buying bitcoin, possibly making it one of the top five national holders of the digital asset. David Bailey, CEO of Bitcoin Magazine publisher Bitcoin Inc. and advisor to the Trump campaign on bitcoin strategy, hinted at the speculation on social media, posting that “there is at least one nation-state actively acquiring…

BlackRock’s iShares Bitcoin Trust (IBIT) recorded an unprecedented single-day net inflow of $1.12 billion on Thursday, surpassing its previous record of $872 million set just days earlier on October 30. This massive inflow underscores increasing institutional interest in bitcoin and signals a strong shift toward crypto investment amid favorable market conditions The influx of capital came a day after IBIT set a new single-day trading volume record of over $4 billion, drawing in investors looking to capitalize on bitcoin’s recent price surge and BlackRock’s credibility in the ETF market. “The surge reflects strong investor confidence, driven by BlackRock’s reputation, Bitcoin’s…

Jack Dorsey’s payments firm, Block (formerly Square), announced plans to intensify its focus on bitcoin mining and its self-custody wallet Bitkey, marking a strategic shift in its crypto and decentralized tech endeavors. This move, outlined in Block’s third-quarter shareholder letter, comes as the company steps back from other initiatives, including its decentralized tech arm, TBD, and music streaming service Tidal. The decision aligns with recent calls by President-elect Donald Trump, who advocated for the U.S. to lead in global bitcoin mining Block emphasized that its bitcoin mining initiative has demonstrated a “strong product market fit” and currently holds a “healthy…

Upbit, one of the most trusted global digital asset exchanges, announced the initial listing of Drift (DRIFT), a governance token on the Solana blockchain, in the Innovation Zone on November 8. Drift (DRIFT) will be available for trading on the KRW, BTC, and USDT markets, with deposits open three hours prior to the 18:00 listing. Drift, a decentralized exchange, offers perpetual futures trading, distinguishing itself from centralized financial services with enhanced transparency and permissionless DeFi features. Notably, Drift employs a Just-in-Time (JIT) auction mechanism that completes trades within five seconds, promoting a smooth on-chain trading experience. If no bids are…

Ether (ETH) has surged by 10%, reaching above $2,800 for the first time since August, driven by renewed optimism in decentralized finance (DeFi) following Donald Trump’s election victory. This upward movement comes after months of range-bound trading in ETH, with prices previously fluctuating between $2,300 and $2,600 despite significant rallies in bitcoin (BTC). Trump’s pro-crypto stance appears to be energizing DeFi investors, fueling bullish sentiment across the market During his campaign, Trump promised to transform the U.S. into a global leader in cryptocurrency. Investors are now anticipating policies that may relax regulatory constraints on DeFi projects, enabling these platforms to…

The recently popular Political Finance (PoliFi) tokens appear to be losing steam in the aftermath of the U.S. election, with major players like the Trump-themed MAGA and Kamala Harris-inspired KAMA plummeting in value. MAGA, the meme coin that popularized the PoliFi genre, fell nearly 49% in the last 24 hours and over 50% in the past week, while KAMA dropped a steep 75% in the same period. Designed to reflect political sentiment, PoliFi tokens, in theory, should rally with positive developments related to their associated candidates. Earlier this year, Mechanism Capital’s Andrew Kang noted that the Trump-themed MAGA token, launched…

A notable shift from gold to bitcoin is underway following the U.S. presidential election, as indicated by a significant spike in the BTC-to-gold ratio. The ratio surged 12% Wednesday after pro-crypto candidate Donald Trump won the U.S. presidency, marking bitcoin’s largest single-day outperformance relative to gold since February 2022, data from TradingView shows. The surge underscores a trend reversal that’s been brewing over recent months, with some analysts forecasting a continued bitcoin price rally toward $80,000 by year-end. The shift follows bitcoin’s recent bullish momentum as gold’s appeal dims, likely sparking a rotation of capital from traditional safe-haven assets to…

The prospect of the U.S. government adopting the Bitcoin Act could mark a historic shift in cryptocurrency policy, according to asset manager CoinShares. In a research blog posted Wednesday, CoinShares’ Head of Research James Butterfill highlighted that under the proposed law, bitcoin (BTC) would be designated as a strategic reserve asset. This would potentially allow the government to acquire up to 5% of bitcoin’s total supply, giving it a role in the national reserve alongside traditional assets like gold. The bill, officially titled the Boosting Innovation, Technology, and Competitiveness Through Optimized Investment Nationwide (BITCOIN) Act, was introduced by Senator Cynthia…