Category: CryptoX News

Sam Bankman-Fried’s Appeals Court Hearing Saw Skeptical Judges

This week saw the Second Circuit Court of Appeals hear arguments in Sam Bankman-Fried’s appeal of his criminal conviction. The three-judge panel appeared very skeptical of his attorney’s arguments. You’re reading State of Crypto, a CoinDesk newsletter looking at the intersection of cryptocurrency and government. Click here to sign up for future editions. The narrative FTX founder Sam Bankman-Fried’s appeal was always going to be an uphill journey. Senior Judge Lewis Kaplan, the Southern District of New York jurist who oversaw the trial, is generally well-respected and the bar for…

Whales Dump While the Rest Accumulate

Bitcoin BTC$102,272.80 remains only marginally positive year-to-date, suggesting 2025 has been a period of consolidation as the asset stabilizes around the $100,000 level. Much of the recent price weakness appears linked to previously dormant coins re-entering circulation, per onchain data. Large holders, commonly known as whales, have been the primary distributors, driving the current downward pressure on price, according to The Accumulation Trend Score (ATS) by Glassnode. ATS measures the relative accumulation or distribution behavior across different wallet cohorts, accounting for both the size of entities and the volume of…

The UK might still win the digital asset race

Disclosure: The views and opinions expressed here belong solely to the author and do not represent the views and opinions of crypto.news’ editorial. London’s fintech revolution transformed its financial landscape. Yet despite success stories like Monzo, which have scaled to over 13 million customers and over $1 billion in annual revenue since forming in 2017, broader indicators reveal a concerning trajectory. UK tech funding dropped 35% to £16.2 billion in 2024, London Stock Exchange delistings reached 88 last year, compared to just 18 new listings, and perhaps most troublingly, Revolut,…

What To Watch Out For To Mark The Bottom

Coming out of weeks of downtrend, the Ethereum price could be looking to establish the next bottom as it sets up for a campaign toward new all-time highs. This is highlighted by crypto analyst MMBTtrader, who explained that the Ethereum price crash could be coming to an end. This is evidenced by a number of formations on the Ethereum price chart that suggest where the next lift-off might begin. Ethereum Price Is Testing The Next Major Support In an analysis shared on the TradingView website, the crypto analyst explained that…

Judge Orders Detention of ‘Cryptospain’ in $300M Pyramid Scheme Case

A Spanish High Court judge has ordered cryptocurrency entrepreneur Álvaro Romillo Castillo into provisional detention without bail over allegations that he orchestrated a $300 million pyramid scheme. Political Connections and Arrest A Spanish High Court judge has ordered Álvaro Romillo Castillo, the cryptocurrency entrepreneur known as “Cryptospain” and “Luis Crypto,” into provisional detention without bail. […] Source CryptoX Portal

Cathie Wood’s ARK Invest Buys $2M in BitMine Shares, Sells $30M in Tesla

Cathie Wood’s ARK Invest has increased its exposure to Tom Lee’s Ether treasury firm BitMine while reducing its position in Tesla. According to the firm’s daily trading disclosures dated Friday, ARK purchased a combined 48,454 shares of BitMine (worth around $2 million) across three of its exchange-traded funds (ETFs), including the ARK Innovation ETF (ARKK), the ARK Fintech Innovation ETF (ARKF) and the ARK Next Generation Internet ETF (ARKW). Wood’s investment funds have been increasing their exposure to BitMine since it started accumulating Ether (ETH) as a treasury asset in…

Canada Quietly Funds New Stablecoin Legislation in New Federal Budget

The budget introduces a massive deficit and still requires a vote of confidence from Parliament; otherwise, another federal election will be triggered. Canada’s New Budget Channels Resources into Developing Stablecoin Governance It’s hard to believe, but for much of 2025, Canada operated without a budget after its new Prime Minister, Mark Carney, narrowly won a […] Source CryptoX Portal

ETF Catalyst Positions Ripple for Next Leg Higher Toward $2.80

XRP climbed 3.6% to $2.31 in Saturday trading, breaking above key resistance at $2.28 as ETF momentum and network growth drove renewed institutional interest. Volume surged 86% above the 24-hour average during the breakout, lifting the token to its strongest close in over a week while outperforming Bitcoin and Ethereum amid subdued broader market activity. News Background Canary Capital Group filed an amended prospectus for its proposed Canary XRP ETF, moving the fund closer to potential SEC approval under Section 8(a). The ETF would trade on Nasdaq under ticker XRPC…

Bitcoin Erases Recovery As Coinbase Users Relentlessly Sell

Bitcoin has retraced its recent recovery above $104,000 as data shows the Coinbase Premium Gap has continued to be negative. Bitcoin’s Coinbase Premium Gap Has Been Red Recently As pointed out by CryptoQuant community analyst Maartunn in a new post on X, investors on Coinbase keep selling Bitcoin. The indicator of relevance here is the “Coinbase Premium Gap,” which measures the difference between the BTC price listed on Coinbase (USD pair) and that on Binance (USDT pair). When the value of this metric is positive, it means the asset is…

Brazil to Tighten Crypto Rules, Attacking the ‘Financial Arm’ of Organized Crime

Fernando Haddad, Brazil’s Minister of Finance, said it is preparing a regulatory overhaul to attack the use of cryptocurrency to finance organized crime. This overhaul includes tougher rules on crypto usage and the revamp of the CVM, the Brazilian equivalent of the SEC. Brazil Aims To Tighten Crypto Controls To Tackle Organized Crime Financing The […] Source CryptoX Portal