Category: Other Crypto News

Crypto Scam Leader Extradited to China to Face Charges

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Li Xiong, a key member of group that served crypto scam rings throughout Asia, has been extradited to China after his arrest in Cambodia, where he will face fraud and money laundering charges, according to Hong Kong-based news outlet Ta Kung Wen Wei. โ€œOn April 1, with strong support from the relevant authorities in Cambodia, a task force sent by Chinaโ€™s Ministry of Public Security successfully escorted Li Xiong, a core key member of the Chen Zhi criminal syndicate, back to China from Phnom Penh, Cambodia,โ€ it said on Wednesday,…

XRP Analyst Shares What To Expect Once Ripple Taps This $12.5 Trillion Industry

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An XRP analyst has outlined the dramatic changes that could happen for the cryptocurrency as Ripple positions itself to integrate with a massive $12.5 trillion payments ecosystem. In a detailed post on X, the analyst highlighted Rippleโ€™s $1 billion acquisition of GTreasury, which the crypto company has since rebranded as Ripple Treasury. This strategic takeover now grants Ripple access to an extensive network of traditional banks and a massive payment volume, which the expert believes could benefit the XRP Ledger (XRPL) and, in turn, drive the cryptocurrencyโ€™s price upward.ย  Ripple…

Bitcoin Ends 5-Month Losing Streak โ€” Real Reversal Or Just April Foolโ€™s Hype?

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A cluster of roughly 650,000 Bitcoin sits at the $70,000โ€“$72,000 price range โ€” coins bought by investors who are now waiting to break even. That supply overhang is the wall Bitcoin must climb if its March recovery is going to mean anything. Related Reading: Rippleโ€™s RLUSD Stablecoin Sits On $1.57 Billion In Reserves: Audit Firm A Streak That Hasnโ€™t Been Seen Since 2018 Bitcoin closed March up 2%, snapping five consecutive months of losses. It was the longest such run of red monthly candles since 2018, and data from CoinGlass…

SpaceX Reportedly Files IPO at Potential $1.75T Valuation

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Elon Muskโ€™s aerospace company SpaceX has reportedly filed confidentially for an initial public offering, moving it closer to what could be the biggest public listing in US history. SpaceX submitted its IPO confidentially to the US Securities and Exchange Commission, according to a report from Bloomberg on Wednesday, citing people familiar with the matter. The IPO could be finalized as early as June, the sources said. SpaceX could seek a valuation exceeding $1.75 trillion in the IPO, sources told Bloomberg in February. A valuation of that size would make the…

Analyst Forecasts Fall To $600 If This Happens

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Ethereum is currently trading above $2,100 at the start of the new month, but one analyst believes the assetโ€™s next major directional move is based on a single price level: one that, if broken, would invalidate years of macro analysis and cause a price collapse to as low as $900. The Count That Has Held For A Year According to an analyst known as The Penguin, Ethereumโ€™s current price behavior fits into a broader Elliott Wave structure that has been developing for years. The analysis defines Ethereumโ€™s entire price history…

Bitcoin Exchange Inflows Flash Rare Signal As Large Deposits Return

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On-chain data shows the average Bitcoin exchange deposit has ballooned to a significant size, a potential sign that whales are making inflows. Average Bitcoin Exchange Inflow Hits 2.62 BTC As pointed out by CryptoQuant community analyst Maartunn in an Xย post, the mean Exchange Inflow has shot up for Bitcoin. The “Exchange Inflow” here refers to an indicator that keeps track of the BTC transactions that are heading toward centralized exchanges from self-custodial wallets. In the context of the current topic, the version of the metric that’s of interest is the…

Crypto Quantum Scare Is Real Says Top Trading Firm, But Here’s Where The Real Risk Is

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QCP Group released an article today weighining in the quantum risk for crypto, following the Google whitepaperย from March 30 showing Bitcoinโ€‘style ellipticโ€‘curve cryptography can be broken with far fewer quantum resources than previously assumed. Related Reading A Bigger Threat Beyond Crypto The crypto-quantum panic continues raging on, with multiple important voices from crypto and technology, such as former Binance CEO Changpeng Zhao (CZ), responding to the report in different ways. QCPโ€™s article, written by Rachel Lee, establishes the firmโ€™s opinion in a simple sentence: the quantum threat is more of…

US Treasury Seeks Comment on State-Level Stablecoin Regulatory Criteria

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The US Department of the Treasury issued a notice of proposed rulemaking (NPRM) on Wednesday and is seeking public comment on proposed regulations for state-level stablecoin governance frameworks under the GENIUS Act. The GENIUS stablecoin regulatory framework, also known as the โ€œGuiding and Establishing National Innovation for US Stablecoins Act,โ€ gives states the authority to regulate stablecoins with a market cap of less than $10 billion, as long as the regulations do not deviate significantly from federal policies. The Treasury outlined several non-negotiable stablecoin regulations that must be in line…

$80M Hyperliquid Whale Bet Predicts Bitcoin Crash and Oil Rally

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Key takeaways: A Hyperliquid whale placed an $80 million bet against Bitcoin and the S&P 500 while going long on Brent crude oil prices. The whaleโ€™s history of massive losses and inconsistent signals suggests the trade could fall on the wrong side of the market. Bitcoin (BTC) showed strength on Wednesday, bouncing back from Tuesday’s $66,000 low after President Donald Trump teased a potential ceasefire in the US and Israel-Iran war. Even with Bitcoin trading above $68,000, one whale used Hyperliquid DEX to place an $80 million bet on a…

EDX Markets Applies for OCC Trust Bank to Expand Crypto Services

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EDX Markets, an institutional crypto exchange, has applied to the US Office of the Comptroller of the Currency (OCC) to establish a national trust bank that would provide crypto custody, asset management and trade-settlement services. The proposed entity, EDX Trust, would operate as a non-depository national bank, separating custody and settlement from trading while continuing to route order matching through EDXโ€™s existing platform. In its application, the company said the model is intended to address structural risks in crypto markets, where trading, custody and brokerage are often combined within a…