Category: CryptoX News

Tech lifts market as stocks close green for third straight day

U.S. stocks closed higher Thursday, driven by strong gains in megacap tech companies as investors parsed mixed signals on global trade policy from the White House and Beijing. The Nasdaq Composite climbed 2.74%, while the S&P 500 added 2.03%. The Dow Jones Industrial Average lagged behind but still gained 1.23%, held back by a 6% drop in IBM shares after the company cited lost government contracts due to budget cuts. Shares of Nvidia, Meta, Amazon, Tesla, and Microsoft all rose, lifting the broader market and pushing the tech sector higher…

Coinbase Joins Forces With Paypal to Supercharge Crypto Payments

Coinbase and Paypal are unleashing a payments revolution, fusing stablecoin tech with mass adoption muscle to drive billions onchain through frictionless, instant digital transactions. Coinbase and Paypal Collide to Supercharge Crypto Payments—Onchain Adoption Begins Coinbase has broadened its alliance with digital payments powerhouse Paypal, aiming to deepen the impact of Paypal USD (PYUSD), a stablecoin […] Source CryptoX Portal

Fed Joins OCC, FDIC in Withdrawing Crypto Warnings for U.S. Banks

The Federal Reserve has joined its fellow U.S. banking regulators in deleting its crypto guidance of previous years, including notices that banks should get pre-approvals before they get involved in crypto activity. Now, all three agencies — including the Office of the Comptroller of the Currency and the Federal Deposit Insurance Corp. — have joined in reversing those previous policies, leaving crypto matters at banks in the hands of their managers and compliance executives. In the absence of guidance, the banking industry awaits new laws from Congress to define how…

Top three altcoins to buy other than XRP, Dogecoin, Solana and ONDO

Crypto market consolidates after a rally earlier this week; Bitcoin’s return above $94,000 supported trader sentiment. While most altcoins suffered a pullback in the market-wide correction, three tokens could yield gains for holders in the coming weeks: Dogecoin, Solana and ONDO.  Dogecoin (DOGE), Solana (SOL) and Ondo (ONDO) could begin rallying in the coming weeks amidst several catalysts in the ecosystem. From U.S. President Donald Trump’s softening stance on tariffs to Bitcoin’s attempt to reclaim the “digital gold” title, a few altcoin rallies are pending and could yield gains for…

Senator, Ex-Bridgewater CEO Dave McCormick Invests More in Bitcoin (BTC) as Bill in Works

U.S. Senator Dave McCormick, the former chief executive of massive hedge fund Bridgewater Associates, is putting his own cash into bitcoin (BTC) as the committee he’s on is at the tip of the spear for a legislative effort to regulate the digital assets industry. McCormick has made repeated recent investments in the Bitwise Bitcoin ETF worth hundreds of thousands of dollars, according to disclosures this week. Because of the ranges used in such lawmaker disclosures, the latest amounts invested last month can only be said to be between $310,000 and…

Tether Boosts Stake in European Football Club Juventus to Over 10%

Tether, the issuer of the world’s largest stablecoin, has raised its stake in the Juventus Football Club to over 10% after expanding its stake in the Italian giant earlier this month. This latest move gives Tether Investments S.A. de C.V., the firm’s investment arm, 6.18% of voting rights. That cements Tether as a significant shareholder and hints at deeper involvement in the governance and financial future of one of Europe’s most storied sports institutions. Juventus, founded in 1897 and with 36 league titles to its name, is a major club…

As OpenAI targets $174B by 2030, rivals, lawsuits, and infrastructure strain loom large

Is OpenAI building the next internet-scale company, or is its $174 billion forecast facing pressure from rivals who’ve opted for openness and speed over vertical integration? OpenAI’s $174 billion vision for 2030 In an industry where bold bets often blur the line between foresight and fantasy, OpenAI’s internal projections for the next five years are ambitious even by Silicon Valley standards.  According to The Information, the company behind ChatGPT has informed investors that it expects to generate $125 billion in revenue in 2029 and $174 billion in 2030. These figures…

Shaq Inks Deal to Settle With FTX Investors Over Boosting Failed Crypto Exchange

Shaquille O’Neal has reached a settlement agreement with a group of FTX investors who accused him of enabling the failed crypto exchange’s fraud by acting as a celebrity promoter, according to a court filing. Details of the settlement agreement, including the amount O’Neal will pay, have not yet been disclosed. Plaintiffs in the case are seeking up to $21 billion in total damages from O’Neal and other promoters, former executives and other insiders. The former basketball star-turned-business mogul was just one of a host of celebrity promoters named in the…

Zksync Hacker Returns Stolen Funds, Keeps 10% Reward

The hacker who made off with $5 million in unclaimed ZK tokens complied with the safe harbor deadline and returned the funds, according to the Zksync Association. Hacker Cooperates to Collect Bounty The Zksync Association said the hacker who compromised an admin account and stole $5 million in unclaimed ZK tokens has “cooperated and returned […] Source CryptoX Portal

Crypto Crime Losses in the U.S. Jumped to $9.3B in 2024, FBI Says

Americans reported a record $9.3 billion in losses to cryptocurrency-related crimes in 2024, according to a report by the Federal Bureau of Investigation’s (FBI) Internet Crime Complaint Center (IC3). The losses represent a 66% jump from 2023 and highlight the growing use of digital assets in online fraud schemes. The annual IC3 report says nearly 150,000 complaints linked to crypto, with investment fraud leading the way. In these schemes, scammers often pretend to offer high returns on fake cryptocurrency platforms, coaxing victims to transfer funds that are then siphoned away.…