News
Stay up-to-date on the most trending topics in crypto with our professional and in-depth news.
Analyst points to one key factor which will lead how the market evolves long-term, noting Solana at the forefront.
Analysts said they predict that Ethereum could bottom in the next 2-4 months.
Bitcoin price experienced a sudden rise and reached the $60,000 area, which it has been struggling to reach for a while. Here are the details.
Share link:In this post: USDC issuer Circle will move its global headquarters to the World Trade Center in New York City. Circle said it chose New York to be closer to regulators and be at the center of the US financial system. Stablecoins gain global adoption from individuals and institutions.
Quick Take Four stablecoin issuers—Paxos, Tether, Techteryx, and Circle—have frozen nearly $5 million in stablecoins in two wallet addresses tied to the infamous North Korean state-sponsored Lazarus hacking group after an investigation by blockchain sleuth ZachXBT. ZachXBT also took aim at Circle for taking longer than the other issuers to freeze the tokens, a total of 4.5 months.
Despite fewer cases, the SEC’s enforcement strategy shifted to larger fines, with average penalties jumping to $426 million per action.
Share link:In this post: OpenAI intends to transition from a non-profit organization to a for-profit entity by 2025. Pressure from investors such as Apple has forced the company to consider lifting the cap on profits. OpenAI will retain the nonprofit branch but will focus on profitability as it grows.
- 15:04Singapore Police Join Forces with Crypto Platforms to Combat Money Laundering, 49 Suspected of Lending Crypto Accounts and Singaporean IdentitiesAccording to a report by Lianhe Zaobao, the Singapore Police Force announced that its Anti-Scam Command, in collaboration with the cryptocurrency platform StraitsX, conducted a joint enforcement operation from May 13 to 30 to combat money laundering activities involving cryptocurrencies. During the operation, the police seized over SGD 200,000 in cash. A total of 35 men and 14 women, aged between 18 and 58, are assisting with the investigation. Preliminary investigations indicate that these individuals are suspected of handing over cryptocurrency accounts or Singpass accounts they had opened to others in exchange for rewards ranging from SGD 400 to 3,000. The accounts in question are believed to have been used for money laundering. The police noted that most suspects were contacted by unknown individuals via Telegram or WhatsApp and handed over their personal information as instructed. The police emphasized that working with StraitsX, which is registered as a legitimate digital payment provider, helps leverage technological solutions to detect suspicious accounts and take swift action. Under Singapore’s Corruption, Drug Trafficking and Other Serious Crimes (Confiscation of Benefits) Act, assisting others in retaining criminal proceeds is punishable by up to three years’ imprisonment, a fine of SGD 50,000, or both. The police urge the public not to lend their bank or cryptocurrency accounts to others to avoid becoming involved in criminal cases.
- 14:48ConsenSys Founder: LINEA to Launch Token First, Multiple Protocols to Issue TokensJoseph Lubin, founder of ConsenSys, responded to user inquiries about whether MetaMask would issue a token by stating that ConsenSys has developed short-term and mid-term strategic plans, which involve the protocolization of existing products as well as several new projects. Given that Web3 protocols typically rely on tokens to operate, multiple protocols will gradually launch their own tokens in the future. Lubin revealed that the first to issue a token will be LINEA, and that subsequent protocols will also achieve coordinated development.
- 14:18DRW Investments acquires nearly 4 million shares of Trump Media & Technology Group worth $100 millionAccording to the Financial Times, DRW Investments, an investment firm founded by American financial magnate Don Wilson, has acquired nearly 4 million shares of Trump Media & Technology Group, valued at approximately $100 million, making it one of the leading investors in Trump Media & Technology Group’s cryptocurrency ventures. However, its competitor Jane Street is the largest investor in Trump Media & Technology Group’s cryptocurrency bets, having invested around $375 million. DRW Investments is a major institutional participant in the crypto asset sector and is also an investor in Cumberland, a prominent liquidity provider. They hope that a Trump administration would reconsider the regulatory authority over the U.S. securities industry. Previously, they have called for the establishment of a new regulatory body to replace both the U.S. Securities and Exchange Commission and the Commodity Futures Trading Commission. As of now, Trump Media & Technology Group has not responded to DRW Investments’ request for comment regarding the investment.