Author: Andrei Ionescu
The firm said it invested in cryptocurrency and forex, and reportedly collapsed in 2022. Andreas Szakacs, a co-founder of OmegaPro, was arrested in Turkey in July for his involvement with the company alleged to have scammed investors of $4 billion in a cryptocurrency Ponzi scheme, Turkish media reported Thursday.Szakacs, a Swede, changed his name to Emre Avci after becoming a citizen of the country, Turkey Today said. He rejected the accusations and said he worked in finance and marketing, an Istanbul-based daily.The gendarmerie seized computers and 32 cold wallets, according to behindmlm.com. While Szakacs did not provide passwords for the…
SunPump, a recently launched Tron-based memecoin generator, has overtaken competitor PumpFun in daily revenue, signaling growing traction for the platform among crypto enthusiasts. On Wednesday, SunPump recorded approximately 7,531 newly launched tokens, generating a revenue of 3.65 million TRX, equivalent to around $548,000 at current market prices, according to data from Dune. This surge in revenue marks a significant lead over PumpFun, which generated 2,575 SOL, worth about $367,195, during the same 24-hour period. PumpFun saw the creation of 6,941 tokens on Wednesday, indicating that SunPump is gaining momentum despite being a newer entrant in the memecoin space. SunPump, launched…
Binance Futures is set to expand its trading options by launching two new USDⓈ-margined perpetual contracts: POPCATUSDT and SUNUSDT. The new contracts will go live on August 22, 2024, at 13:00 (UTC) and 13:05 (UTC) respectively, offering traders the opportunity to leverage up to 75x. The maximum funding rate for these contracts at launch is set at +2.00% / -2.00%, with funding fees being settled every four hours. This frequent settlement is designed to ensure that the contracts reflect real-time market conditions, allowing traders to adjust their positions accordingly. Binance emphasized that contract specifications such as the funding fee, tick…
Over-the-counter (OTC) crypto desks are now holding 368,000 bitcoin (BTC) worth over $22 billion, according to data from tracking firm CryptoQuant. This marks an increase of 153,000 BTC in just three months, bringing balances to their highest level since June 2022. OTC desks facilitate large transactions between buyers and sellers without impacting the public market, making them a preferred method for institutions, high-volume traders, and miners. Unlike traditional exchange order books, these transactions are handled privately, allowing sophisticated market participants to trade significant volumes discreetly. CryptoQuant highlighted that miners, in particular, often opt for OTC deals to sell bitcoin, ensuring…
Attorneys for Ryan Salame, a former FTX executive currently serving a 7.5-year prison sentence, have filed a court motion alleging that federal prosecutors reneged on a plea deal that was supposed to shield his domestic partner, Michelle Bond, from further investigation. The filing claims that prosecutors had assured Salame that the investigation into Bond, a former Republican congressional candidate and CEO of fintech think tank ADAM, would cease if he cooperated. Disputed Plea Agreement Salame, who pled guilty in September 2023 to campaign finance violations and operating an unlicensed money-transmitting business, argues that his plea was based on promises from…
U.S. spot bitcoin exchange-traded funds (ETFs) saw their fifth consecutive day of positive inflows on Wednesday, attracting $39.42 million in net investments. In contrast, spot ether ETFs continued their streak of net outflows for the fifth straight day. Grayscale’s mini bitcoin trust led the day with $14.2 million in inflows, followed closely by spot bitcoin funds from Fidelity and Bitwise, both of which saw around $10 million in fresh investments, according to data from SoSoValue. BlackRock’s IBIT, the largest spot bitcoin ETF by assets, added $8.35 million, while Franklin Templeton’s EZBC fund saw $3.55 million in inflows. Invesco’s BTCO also…
BlackRock’s iShares Ethereum Trust (ETHA) has achieved a significant milestone, becoming the first Ethereum exchange-traded fund (ETF) to surpass $1 billion in net inflows. Data shows that ETHA reached this landmark on Tuesday, solidifying its position as a dominant player among the 11 recently launched spot ether ETFs. Currently, ETHA holds over $860 million in net assets, making it the third-largest Ethereum product overall, trailing only Grayscale’s mini ether trust (ETH) and Ethereum trust (ETHE). What’s more, ETHA’s inflows exceed the combined totals of the next three highest Ethereum ETFs: Fidelity’s FETH ($367 million), Bitwise’s ETHW ($310 million), and Grayscale’s…
The decreasing growth rate of bitcoin whale holdings is being viewed as a bearish signal for the cryptocurrency’s price, according to a recent report from on-chain data provider CryptoQuant. In its weekly report, CryptoQuant noted that the 30-day percentage change in bitcoin whale holdings has dropped significantly, from 6% in February to just 1% currently. The report suggests that this reduced accumulation by large-scale holders often seen as a key factor in driving bitcoin’s price—is a sign of bearish market conditions. “Historically, a monthly growth rate of over 3% in whale holdings has correlated with rising bitcoin prices, which we…
U.S. spot bitcoin exchange-traded funds (ETFs) witnessed $88.06 million in net inflows on Tuesday, marking the fourth consecutive day of positive flows. The trend indicates sustained interest from investors, even amid recent market volatility. Leading the inflows was BlackRock’s IBIT, the largest spot bitcoin ETF by net assets, which attracted $55.43 million. Ark Invest and 21Shares’ ARKB fund followed closely with $51.91 million in inflows, according to data from SoSoValue. On the other side, Grayscale’s GBTC experienced the highest net outflows, with $12.81 million withdrawn. Bitwise’s BITB also reported $6.47 million in outflows, while eight other spot bitcoin ETFs, including…
Polish national Roman Ziemian, co-founder of the digital currency trading platform FutureNet, has been arrested in Montenegro following allegations of defrauding users out of approximately $21 million, according to reports from local authorities. Ziemian was apprehended in a joint operation involving Montenegrin police and Interpol after evading capture for over a year. Ziemian had previously escaped house arrest in Italy in 2022, prompting both Poland and South Korea to issue international warrants for his arrest. Montenegrin law enforcement found him hiding under a false identity in a newly developed residential area in the capital, Podgorica. During the operation, officers seized…