Month: June 2024

US Court Filings Expose Montenegro’s Prime Minister’s Stake In Failed Terraform Labs

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A recent Bloomberg report has revealed that Montenegro’s Prime Minister, Milojko Spajic, personally invested in Terraform Labs years before the company’s collapse. The discovery has raised concerns regarding the founder’s choice to flee prosecution by seeking refuge in the same nation.  The founder of Terraform Labs, Do Kwon, was detained in Montenegro in March 2023 and is currently facing extradition demands from the US and South Korea.  Opposition Calls For Resignation According to Bloomberg, Milojko Spajic has claimed that the investment was made by Singapore-based company Das Capital SG, in…

Market Sentiment Slowly Shifts Bearish

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Ethereum price struggled to climb above the $3,650 resistance and trimmed gains. ETH is now signaling a downside break and might decline below $3,450. Ethereum is trimming gains from the $3,620 resistance zone. The price is trading below $3,550 and the 100-hourly Simple Moving Average. There was a break below a short-term rising channel forming with support at $3,540 on the hourly chart of ETH/USD (data feed via Kraken). The pair could gain bearish momentum if it dips below the $3,485 and $3,450 support levels. Ethereum Price Trims Gains Ethereum…

MicroStrategy buys 12k new BTC

MicroStrategy shows no signs of slowing down with another $786 million purchase of Bitcoins. MicroStrategy expanded its Bitcoin holdings with the purchase of 11,931 BTC for $786 million in cash “using proceeds from convertible notes,” the firm’s founder Michael Saylor confirmed in a Thursday morning X post. MicroStrategy has acquired an additional 11,931 BTC for ~$786.0M using proceeds from convertible notes & excess cash for ~$65,883 per #bitcoin. As of 6/20/24, $MSTR hodls 226,331 $BTC acquired for ~$8.33B at average price of $36,798 per bitcoin.https://t.co/jE9dGqqnON — Michael Saylor⚡️ (@saylor) June…

Bitcoin Price Dips Again: BTC Bears Tighten Grip

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Bitcoin price failed to climb above the $66,500 resistance. BTC is again moving lower and might decline below the $64,600 support zone. Bitcoin started a fresh decline from the $66,500 resistance level. The price is trading below $65,500 and the 100 hourly Simple moving average. There was a break below a connecting bullish trend line with support at $65,250 on the hourly chart of the BTC/USD pair (data feed from Kraken). The pair could extend losses if there is a clear move below the $64,600 and $64,200 support levels. Bitcoin…

LayerZero Airdrop Slammed For ‘Proof-Of-Donation’ Mechanism

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This week, another airdrop controversy has sent the crypto community into havoc. Omnichain interoperability protocol LayerZero recently announced its ZRO Token launch alongside an Airdrop for its community. Related Reading However, investors were shocked when the protocol announced the new ‘Proof-of-Donation’ mechanism. The token’s price has dropped over 20% after launching.  LayerZero Faces Backlash For Token Airdrop  On June 14, the LayerZero Foundation took X to tease an upcoming airdrop. That day, Bryan Pellegrino, the co-founder and CEO of LayerZero Labs, shared the key details of the airdrop. The CEO…

Are The Days Of Meme Coins Mania Over? Market Trends Suggest A Shift To Substance

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In a market that has long been captivated by the rapid rise and often speculative nature of meme coins like Dogecoin (DOGE), Shiba Inu (SHIB) and PEPE, a notable shift is underway. According to Ki Young Ju, the CEO of CryptoQuant, the once-dominant meme coins are witnessing a decline in market influence, potentially signaling a maturing cryptocurrency landscape. Related Reading The Decline of Meme Coins Dominance Ki Young Ju’s analysis reveals a significant reduction in the dominance of meme coins within the altcoin sector, a trend observed from recent market data.…

Will crypto become a centralized “hellscape?

Sarah Brennan is a US corporate & securities lawyer and acts as General Counsel for Delphi Ventures, a VC firm focused on Web3 investment. She has spent 14 years focused on corporate securities law and became active in the digital assets space in 2017.  Brennan is also a co-founder of the LeXpunK project with her focus on legal advocacy for decentralized communities. Speaking exclusively with crypto.news, the cryptolaw advocate shared her thoughts on crypto super PACs, failed regulation, and the danger of recreating the traditional financial system with crypto all…

PEPE Has 80% Of Holders In Profit: How It Compares To DOGE & BTC

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On-chain data shows the memecoin Pepe currently has 80% of its holders in profit. Here’s how Dogecoin, Bitcoin, and other top coins compare. PEPE Is Among The Coins With The Highest Profitability Ratio Right Now In a new post on X, the market intelligence platform IntoTheBlock has shared a chart that shows how the various top cryptocurrencies compare against each other regarding the percentage of holders carrying a net unrealized profit currently. The analytics firm has determined these percentages using on-chain data; the transaction history of each address on a…

Messari Founder Ryan Selkis Accuses Martin Shkreli of Working Covertly to Hurt Trump’s Campaign Through DJT

Ryan Selkis, founder and CEO of Messari, a cryptocurrency market intelligence firm, has called out “Pharma Bro” Martin Shkreli for supposedly acting with federal agencies to hurt Donald Trump’s campaign. Shkreli, allegedly the creator of DJT, disregarded this notion, calling out Selkis for “watching too many movies.” Messari’s Ryan Selkis Accuses Martin Shkreli of Organizing […] Source CryptoX Portal