Category: CryptoX News

Tether mints $1 billion USDT on Ethereum, forecasting an ETF approval

Tether minted on Tuesday $1 billion USDT tokens on the Ethereum blockchain, capitalizing on growing hype around a potential spot Ethereum ETF approval. The market upswing was driven by hopes that the U.S. Securities and Exchange Commission (SEC) will approve a spot Ethereum (ETH) ETF for trading this Thursday.  Whale Alert first reported the minting on Tuesday, which was replied to and confirmed by Tether CEO Paolo Ardoino, who wrote, “PSA: 1B USDt inventory replenish on Ethereum Network. Note this is an authorized but not issued transaction, meaning that this…

Trump campaign now accepting crypto donations, a first for major party nominees

Former President and Republican frontrunner Donald Trump and his campaign announced on Tuesday it will start accepting cryptocurrency donations. This marks the first time a major American political party is embracing digital currencies for campaign donations.  The Trump campaign introduced a fundraising page that allows federally permissible donors to contribute using any cryptocurrency that is accepted on the Coinbase platform. This can be seen as a sign of Trump’s growing acceptance of financial technology, and his continued stance of lowering government control over individual financial decision-making. Trump’s new stance contrasts…

Jupiter Exchange launches Giant Unified Market initiative

Jupiter Exchange launched the Giant Unified Market (GUM) initiative to combine different types of investments into one market on the Solana blockchain. The GUM Alliance aims to bring together investments like meme coins, real-world assets, stocks, and forex into a single market, making trading between them easier and more direct. The alliance, comprised of leading teams in asset handling, liquidity, and distribution, plans to add more types of investments to Solana (SOL), ensuring the markets have enough cash flow to operate smoothly and integrating the markets into Jupiter’s platform to…

DOJ Captures Alleged ‘Architect’ of Darknet Marketplace Incognito

According to the U.S. Department of Justice (DOJ), the operator of the darknet marketplace Incognito was apprehended at John F. Kennedy Airport on May 18. Law enforcement officials claim Rui-Siang Lin allegedly constructed the DNM and facilitated the sale of over $100 million worth of illegal drugs through the platform. Federal Authorities Nab Alleged Darknet […] Source CryptoX Portal

Nearly $300 million in crypto short positions obliterated 

The latest upswing in the crypto market rattled leveraged positions on both sides of the aisle, but short traders took the day’s biggest hit.  Bitcoin (BTC) rallied over 13% in the past week, breaking above $70,000 for the first time since before the halving event last month. According to CoinMarketCap, the leading blockchain asset was less than 5% below its all-time high (ATH) set in March.  Ethereum (ETH), the second-largest cryptocurrency, surged 30% over the week, reclaiming a $450 billion market and can soon test the $4,000 level. BTC and…

Bitcoin On The Verge? Analyst Breaks Down What A $71,500 Weekly Candle Close Means For BTC

Both Bitcoin (BTC) and Ethereum appear to currently be the center of attention in the crypto market so far, with Bitcoin recently hitting just above a 24-hour high of $71,650 mark, marking a 6.4% increase in the past 24 hours and nearly 20% over the past week. A prominent Crypto Analyst who has since been tracking Bitcoin’s movements has recently revealed insights into the asset’s latest trends, signaling a notable move ahead for BTC. Related Reading Bitcoin’s Path Analyzed: What’s Coming? Crypto analyst Rekt Capital earlier today highlighted on the…

Bittrex Global CEO commends Thailand’s firm regulatory approach towards crypto

In an interview with crypto.news Oliver Linch, CEO of Bittrex Global, discussed Thailand’s regulatory direction regarding the cryptocurrency sector. Thailand’s Securities and Exchange Commission (SEC) has intensified its regulatory framework to curb unlicensed crypto activities, citing fraud and money laundering concerns. “The SEC warns people and investors to be cautious about using unauthorized digital asset operators because they do not receive legal protection,” the regulator said in a statement. The commission banned access to unlicensed crypto exchanges last month and introduced significant changes aimed at fortifying the digital asset market.…

Avalanche Price Prediction | Is AVAX a Good Investment?

On May 21, 2024, the Avalanche (AVAX) coin saw a 12% jump, hitting $41.02, according to CoinMarketCap. This uptick came after Avalanche announced the successful tokenization of the Wine Capital Fund by Oasis Pro, now listed on ATS via the Avalanche C-Chain. While the current price is far from its peak of $146.22 in 2021, it still marks a significant achievement. In March 2024, AVAX surged by 34% within a week. As of May 21, 2024, AVAX held the 11th spot among top cryptocurrencies, with a market cap exceeding $15.56…