Category: CryptoX News

Bankrupt Crypto Exchange FTX Slams Three Arrows Capital’s $1.53B Claim: “3AC Is Owed Nothing”

Bankrupt crypto exchange FTX has said it should not have to pay a massive $1.53 billion recovery claim by Three Arrows Capital, arguing in a recent court filing that the crypto hedge fund’s “own risky [trading] strategy caused its collapse, and its own account activity — not any action by [FTX] — resulted in a significant decline in the “value” associated with the 3AC Accounts in June 2022.” “3AC bet big that cryptocurrency prices would increase using cash it did not have and, when prices instead plummeted, 3AC proceeded to liquidate…

Trump’s Crypto Ties Still Toxic With Some Dems, Including One Seen as Industry Ally

U.S. Senator Adam Schiff was among the many Democrats who voted to pass the stablecoin bill last week, but as the Senate moves on to legislation establishing regulations for the wider U.S. crypto markets, Schiff has introduced another effort to ban President Donald Trump and other top government leaders from issuing or sponsoring cryptocurrencies. The California Democrat’s legislation joins at least four other bills that similarly seek to block senior government officials and lawmakers from taking a direct hand in crypto businesses. Such concerns arose during the debate over the…

India wants 30% of your crypto gains, but that’s not the worst part

How India’s Union Budget 2025 maintains crypto taxes India’s Union Budget 2025 has made no changes in the existing tax rules for cryptocurrencies, maintaining the provisions of the Finance Act 2022 for virtual digital assets (VDAs) like Bitcoin (BTC) and Ether (ETH).  Under Section 115BBH of the Income Tax Act, profits from selling VDAs are taxed at a flat rate of 30%. You can deduct only the purchase cost, with no allowance for other expenses or losses. Additionally, a 1% Tax Deducted at Source (TDS) applies to all VDA transactions…

Cardone Capital Adds 1,000 BTC, Eyes 3,000 in Bold BTC Strategy

Grant Cardone, the well-known real estate investor, has announced that his firm, Cardone Capital, has added 1,000 BTC to its balance sheet. “CardoneCapital adds 1,000 BTC to balance sheet becoming first ever real estate/BTC company integrated with full BTC strategy combining the two best in class assets,” said Cardone in an X post. At current market prices, the purchase is worth just over $100 million. If Cardone Capital were a publicly traded company, this acquisition would place it among the top 30 corporate bitcoin holders globally, ranking near the 29th…

ATOM Surges 6% After V-Shaped Recovery Amid Global Tensions

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Metaplanet Buys 1,111 Bitcoin, Approaches Tesla’s Holdings

Metaplanet, Japan’s top Bitcoin corporate treasury company, announced Monday that it has purchased an additional 1,111 Bitcoin, bringing its total holdings to 11,111 BTC. According to a Monday regulatory filing, Metaplanet’s total holdings have reached 11,111 Bitcoin (BTC), putting the company’s BTC holdings within striking distance of Tesla’s current Bitcoin stash of 11,509 BTC. Source: Metaplanet Metaplanet spent 17.26 billion Japanese yen (about $117 million) on the purchase, paying an average of just under $105,500 per coin. As of Monday, Bitcoin was trading just under $102,000 — about 3.3% below…

Bitcoin ETF demand drops sharply as geopolitical jitters rattle investor sentiment

Spot Bitcoin exchange-traded funds in the United States have recently experienced a sharp drop in inflows as investor sentiment continues to take a hit amid escalating geopolitical concerns. According to data from SoSoValue, the 12 spot Bitcoin ETFs pulled in $1.02 billion over the past week, a significant drop of over 26% compared to the $1.39 billion these funds attracted the week before. The week of June 16–20 started off strong. Bitcoin ETFs saw $412.2 million in inflows on Monday, followed by $216.48 million on Tuesday and $389.57 million on…

Story Protocol jumps 15% as whales buy $47M in IP tokens

Story Protocol’s IP token has seen a sharp 15% bounce, trading just above $3 after days of downward drift. The surge was accompanied by a sudden 118% spike in trading volume and large-scale whale accumulation, fueling speculation around the project’s next major move. Blockchain data flagged by Lookonchain on June 23 shows two major wallets collectively purchased 16 million Story Protocol (IP) tokens, worth nearly $47.5 million.  One address acquired 6 million tokens, while another scooped up 10 million. The timing is notable, arriving just as market-wide sentiment steadied following…

XRP ETF Odds Jump to 95% as SEC Shows Positive Signals, Bloomberg Analysts Say

Bloomberg analysts project XRP’s ETF approval odds at 95%, igniting powerful institutional momentum poised to reshape crypto markets and thrust digital assets into mainstream financial dominance. XRP ETF Nears SEC Approval With 95% Odds, Say Bloomberg Analysts Mounting anticipation is sweeping across the crypto market as multiple digital assets, including XRP, edge closer to potential […] Source CryptoX Portal