Category: CryptoX News

Trader makes $17M by betting against James Wynn’s high-risk strategy 

While James Wynn lost nearly $100 million, another trader made a fortune by consistently taking the opposite side of his trades. One crypto trader earned more than $17 million by betting against controversial crypto fund manager James Wynn. On Friday, May 30, Lookonchain reported that the trader behind wallet address 0x2258 repeatedly mirrored the opposite of Wynn’s positions. The trader shorted when Wynn went long and went long when Wynn shorted. The approach paid off, resulting in $17 million in profits while Wynn racked up $98 million in losses. The…

BTC Supply Shock Could Have Dramatic Implications: Sygnum

Bitcoin is entering a period of supply shock that could have more dramatic price implications than in previous cycles, Katalin Tischhauser, head of research at digital asset banking group Sygnum, told Cointelegraph. “Large demand will have a strong multiplier effect, meaning every $1 of demand leading to, say, $20-30 additional market capitalization,” she said. “We have already seen this multiplier effect after the launch of the Bitcoin spot ETFs or around the US elections.” Tischhauser cited the limited liquid supply of Bitcoin (BTC) relative to the large pools of institutional…

Ripple Drops 6% as Global Economic Tensions Trigger High-Volume Selloff

Shaurya is the Co-Leader of the CryptoX tokens and data team in Asia with a focus on crypto derivatives, DeFi, market microstructure, and protocol analysis. Shaurya holds over $1,000 in BTC, ETH, SOL, AVAX, SUSHI, CRV, NEAR, YFI, YFII, SHIB, DOGE, USDT, USDC, BNB, MANA, MLN, LINK, XMR, ALGO, VET, CAKE, AAVE, COMP, ROOK, TRX, SNX, RUNE, FTM, ZIL, KSM, ENJ, CKB, JOE, GHST, PERP, BTRFLY, OHM, BANANA, ROME, BURGER, SPIRIT, and ORCA. He provides over $1,000 to liquidity pools on Compound, Curve, SushiSwap, PancakeSwap, BurgerSwap, Orca, AnySwap, SpiritSwap, Rook…

DOJ Will Not Have to Review Records

The federal judge overseeing Roman Storm’s prosecution declined to order the Department of Justice to review its records for any materials it might have missed that would help the Tornado Cash developer at the end of a 30-minute hearing Friday morning, though she told the government it should not have any disclosure issues. Judge Katherine Polk Failla also ruled that there were no Brady violation concerns with the Department of Justice’s conversations with the Financial Crimes Enforcement Network (FinCEN) about whether mixers needed to register as money transmitters — the…

Amboss Launches Rails: Empowering Bitcoin Yield and Lightning Network Growth

NASHVILLE, Tenn., May 29, 2025 /PRNewswire/ — Amboss, a leader in AI-driven solutions for the Bitcoin Lightning Network, today unveiled Rails, a self-custodial Bitcoin service designed to enhance asset utility. Developed for companies, custodians, and high net worth individuals, Rails enables participants to put their Bitcoin to work while contributing to the performance and scalability of the Lightning Network. This launch marks a significant step forward in creating decentralized, reliable payment infrastructure for the Bitcoin ecosystem. Rails introduces a secure, innovative way for participants—termed Liquidity Providers (LPs)—to maintain full custody…

Grinex’s reach expands to $1.66B despite history of sanctions

Grinex, a cryptocurrency exchange identified as the suspected successor to the sanctioned Russian platform Garantex, has reportedly moved more than $1.66 billion in crypto through exchanges, despite red flags raised by blockchain analytics firm Global Ledger. Garantex had its infrastructure taken down by US, German and Finnish authorities in March and has since reportedly shifted its operations to Grinex. Global Ledger initially told Cointelegraph that various cryptocurrency exchanges had around $1 billion in fund exposure to Grinex, as of early May. But the movement hasn’t stopped, the Swiss blockchain data…

Bitcoin Bull James Wynn Goes Long on PEPE Again, Hours After Losing $100M

Shaurya is the Co-Leader of the CoinDesk tokens and data team in Asia with a focus on crypto derivatives, DeFi, market microstructure, and protocol analysis. Shaurya holds over $1,000 in BTC, ETH, SOL, AVAX, SUSHI, CRV, NEAR, YFI, YFII, SHIB, DOGE, USDT, USDC, BNB, MANA, MLN, LINK, XMR, ALGO, VET, CAKE, AAVE, COMP, ROOK, TRX, SNX, RUNE, FTM, ZIL, KSM, ENJ, CKB, JOE, GHST, PERP, BTRFLY, OHM, BANANA, ROME, BURGER, SPIRIT, and ORCA. He provides over $1,000 to liquidity pools on Compound, Curve, SushiSwap, PancakeSwap, BurgerSwap, Orca, AnySwap, SpiritSwap, Rook…

Uniswap Upgrade Hype Fails to Halt UNI Slide as Traders Brace for More Volatility

In the past 24 hours, Uniswap’s native token UNI experienced a marked decline due to volatile market conditions. The price movement from $7.119 to $6.532 indicates substantial downward pressure, amplified by macroeconomic factors like overall market bearish trends and investor sentiment. At the same time, microeconomic elements, including Uniswap’s latest protocol advancements and strategic interest from crypto whales, provide counterbalancing support points, potentially staving off further price declines. Despite the dip, long-term confidence might build as Uniswap gains traction with its latest innovations, suggesting strategic investor consideration. Technical Analysis Highlights…

Two Ways This BTC Bull Market is Sturdier Than 2020-21 and 2017

Bitcoin has long been criticized for its high volatility, with bull runs marked by sudden, sharp pullbacks that would qualify as full-blown bear trends in stocks. However, the latest bull market, which kicked off in early 2023, feels different in a positive way, exhibiting relatively low volatility and drawdowns. Volatility in downtrend According to data tracked by Glassnode, bitcoin’s realized volatility on a three-month rolling basis has averaged less than 50% during this bull cycle, significantly lower than the 80% to 100% observed during previous bull runs. The same thing…