A customer opens an exchange account, copies a string of numbers and follows a path through a Merkle tree. The page processes the request and returns a reassuring result: the customer’s balance was included in the exchange’s proof of reserves. The verification is most likely technically sound, establishing that the account appeared in a dataset […]
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Only creditors who cleared the June 16 requirements and can onboard with BitGo, Kraken or Payoneer are on the July 31 clock.
The post FTX begins $900M payout as creditors in 45 countries could lose their claims within 6 months appeared first on CryptoSlate.
So far the company's bankruptcy estate has distributed nearly $10 billion to creditors and other claimants since repayments began in 2025.
A Manhattan judge ordered that Michelle Bond’s criminal trial start in November after he denied a motion to dismiss the indictment based on claims that prosecutors misled her husband over her charges.
A federal judge has denied Michelle Bond’s bid to dismiss campaign finance charges tied to alleged FTX-linked contributions.
A federal judge has denied a bid from Michelle Bond, the wife of former FTX executive Ryan Salame, to have campaign finance charges against her dismissed.
Sam Bankman-Fried was found guilty on all seven counts related to defrauding FTX customers, lenders, and investors.
Sam Bankman-Fried lost his appeal to overturn his 25-year sentence after accusing the original court of not giving him a fair chance.
The upheld sentence underscores the judiciary's firm stance on financial misconduct, potentially deterring future crypto-related fraud.
The post Sam Bankman-Fried appeal denied as court backs 25-year sentence for FTX collapse appeared first on Crypto Briefing.
Sam Bankman-Fried (SBF), the disgraced founder of the bankrupt FTX exchange, is serving a quarter-century in federal prison for orchestrating one of the largest financial frauds in US history. Yet, crypto speculators are wagering that a newly filed presidential pardon application could somehow reverse his fortunes. This week, the disgraced FTX founder officially requested executive […]
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Sam Bankman-Fried is pressing ahead with his bid for a presidential pardon, even after President Trump said he has no plans to grant clemency.
Bitcoin closed the week of June 5, 2026 down by almost 20%, its highest single-week percentage decline since the collapse of FTX in November 2022. The last time the market saw a candle this red, it was during the cycle bottom. This time, however, the current setup is more complicated, as Bitcoin is reacting to a combination of institutional selling pressure, ETF weakness, and fading confidence after a failed recovery attempt above $82,000. Related Reading: XRP Monthly RSI Drops To All-Time Low As Market Watches For Confirmation Bitcoin’s Drop Brings Back The FTX Comparison Bitcoin’s price action in the first week of June was one of its most notable weeks in history. BTC opened the week around $73,760, briefly pushed as high as $74,092, and then fell to a low of about $59,130, according to data from TradingView. The move translates to a decline of about 19.5% from the weekly open to the low and 20.1% from the high to the low, making it Bitcoin’s worst weekly percentage drop since the FTX crash in 2022, when the price fell by roughly 22% in a single week. However, there is also a note about where the candle is showing up in the market structure. During the FTX collapse, the violent weekly move came after months of selling pressure and ended up happening close to the final bear-market bottom. The current decline is also appearing after Bitcoin has already lost a major portion of its value from the October 2025 all-time high above $126,000. Bitcoin Price Chart. At the time of writing, Bitcoin is trading at $62,150, placing it about 50.7% below that peak. The similarity does not guarantee that the market has reached a bottom, but it does raise the possibility that the latest weekly price crash is moving into the kind of final-washout zone that followed FTX’s crash. That angle is being overlooked by many analysts, especially as several forecasts still point to a prolonged bear market that could stretch into at least Q4 2026 Bitcoin Enters Extreme Undervaluation Crypto analyst Darkfost noted that Bitcoin has now fallen below the 4% quantile on the Bitcoin Porkopolis Power Law Quantile Regression model. The chart places Bitcoin’s current quantile around 3.9%, meaning the asset is trading in a zone that has appeared during less than 4% of its historical price action relative to its long-term growth curve. The Power Law model is a long-term valuation model that can also be used for a reversal signal. Every prior instance in which the quantile oscillator reached this level, visible in the chart across 2015, 2018/2019, and the 2022 bottom, preceded notable multi-year recoveries. Bitcoin Power Law Regression. Source: @Darkfost_Coc On X Related Reading: Bitcoin Price Plunges To $59K, Sparking Fears Of Deeper Decline Bitcoin can stay undervalued for longer than traders expect, especially if the momentum is weak and there’s forced selling. Still, the metric does show that Bitcoin is now much closer to the lower regression bands than the overheated upper bands in previous cycle peaks. Featured image from Pexels, chart from TradingView
Bitcoin has bounced back from the $70,000 zone multiple times in 2026, but analysts are warning that the next test of that level could end differently. A Line That Has Held Since 2017 The lower boundary of a rising wedge pattern — a trendline that first appeared as support in mid-2017 — has absorbed several sharp drops over the years. Bitcoin touched it during the FTX-driven crash of November 2022, when prices fell to $15,400, and the line held. It held again three times in the opening months of 2026, at $60,000 in February, then at $64,900 and $65,000 in March and April. Related Reading: Bitcoin’s 4-Year Rhythm Is Still Playing Out, Says Crypto CEO Crypto market commentator MichaelXBT brought renewed attention to the pattern after Bitcoin dropped below $74,000 for the first time in over a month. Based on his chart analysis, the support trendline now sits around the $70,000 mark, and a confirmed break below it would be historically significant. Bitcoin 10-Year Wedge Support: $70k If that level breaks, bears will be handsomely rewarded. It will ignite the largest red weekly candle Bitcoin has seen in years. History will be made. pic.twitter.com/0HqImRTD4s — Crypto Michael (@MichaelXBT) May 27, 2026 “If that level breaks, bears will be handsomely rewarded,” he said. What A Break Could Mean MichaelXBT says a breakdown would trigger the largest weekly red candle Bitcoin has seen in years. He stopped short of naming a price target or estimating how far a drop might extend, but his view is that the event would be a notable moment in the asset’s history. The wedge pattern at the center of his analysis is formed by two converging trendlines moving upward, with the lower one rising faster than the upper. When prices break below the lower line, the pattern is generally read as a sign that bullish momentum has run out. Not Everyone Sees Collapse Coming Michaël van de Poppe, a veteran crypto market analyst, pushed back on the more bearish readings. He described what markets are going through as a standard end-of-month correction, driven largely by asset managers rebalancing their portfolios. Related Reading: Unknown Wallet Destroys $8.5 Million In Bitcoin In Shocking Burn Bitcoin faced rejection at $77,000, he said, and the pullback that followed fits a familiar pattern rather than a breakdown signal. Van de Poppe acknowledged that if Bitcoin fails to hold his key support area, prices could slide toward the lower range of the $60,000s. But he was direct in saying current weakness alone is not enough to call a new low. Featured image from Pexels, chart from TradingView
The law firm, Fenwick & West, denied wrongdoing and still faces a separate $525 million suit in Washington that is not covered by Friday's deal.
Celsius founder Alexander Mashinsky, who was responsible for the $4.7 billion 2022 crypto crash, has been banned from crypto. This forms part of a $10 million settlement with the Federal Trade Commission (FTC) while the crypto founder continues to serve a 12-year sentence. Celsius Founder Banned From Crypto As Part of $10 Million FTC Settlement A court order filed by the FTC shows that the Celsius founder is permanently banned from crypto. The order stipulates that Mashinsky is not allowed to advertise, market, promote, offer, distribute, or assist in doing any of these things with respect to products or services used to deposit, exchange, invest, or withdraw assets. Related Reading: Here’s What Happened In The Donald Trump Crypto Meeting With $TRUMP Holders This crypto ban forms part of a $10 million settlement with the FTC. The order included a $4.72 billion monetary judgment against the Celsius founder in favor of the Commission. This sum relates to Mashinsky’s role in the 2022 crash of his crypto lending platform, which left customers unable to access $4.7 billion in deposits. However, this monetary judgment is suspended, and Mashinsky has been ordered to pay $10 million to satisfy this monetary relief. The order also noted that the crypto founder shall be deemed to have satisfied the payment obligation if he pays this amount to the Department of Justice (DOJ) pursuant to the forfeiture order entered in his criminal case. It is worth noting that the Celsius founder is currently serving a 12-year sentence for fraud and market manipulation. The crypto founder had pleaded guilty in 2024 to committing commodities fraud and securities fraud at Celsius and was subsequently sentenced last year. The prosecution revealed that Mashinsky had used customers’ assets to place risky bets and to “line his own pockets.” In addition to his prison term, the Celsius founder was also sentenced to three years of supervised release and ordered to pay a $50,000 fine and forfeit $48 million. Crypto Founder Denied New Trial In Fraud Case Sam Bankman-Fried (SBF), who was convicted for fraud like Mashinsky, has had his request for a new trial denied. According to an ABC report, a federal judge denied SBF’s request for a new trial, rejecting the FTX founder’s claims that there are new witnesses in his case who could give evidence that would clear him of any wrongdoing. Related Reading: Crypto Decentralization Myth Busted: ETH And USDT Freezes Unveil A Shocking Truth The judge described this claim as baseless. SBF is currently serving a 25-year prison sentence for his role in the collapse of defunct crypto exchange FTX. Bankman-Fried was found to have used up to $8 billion in customers’ funds for his personal projects. However, he continues to deny any wrongdoing despite being found guilty, stating that his exchange was always solvent. It is worth noting that SBF was also seeking a pardon from U.S. President Donald Trump, but the White House has revealed that Trump has no plans to pardon him. Featured image from iStock, chart from Tradingview.com
U.S. District Judge Lewis Kaplan declined former FTX CEO Sam Bankman-Fried's request for a new trial. An appeal is still pending.
SBF withdrew his motion for a new trial for now in a letter to Judge Lewis Kaplan, adding that he didn't think he would get a "fair hearing."
XRP holders are currently sitting on major losses as the price continues to decline from the 2025 bull run highs. These holders risk larger losses on their investments, as crypto analyst CasiTrades has warned that XRP could still see new lows. XRP Holders Currently Seeing Major Negative Returns On Their Investments On-chain analytics platform Santiment revealed that the average wallets that have been active on the XRP Ledger (XRPL) over the past year are down an average of 41% on their investments. Santiment noted that this is the lowest Mean Value to Realized Value (MVRV) for XRP holders since the FTX crash in November 2022. Related Reading: Don’t Get Trapped In XRP: Analyst Sounds Warning That Price Will Still Crash To This Level Santiment noted that because crypto assets are zero-sum trading games, significantly negative average returns, not just a price drop, but actual trader returns, imply that there is much lower risk than average in buying or adding to one’s XRP positions. The platform explained that this is because competing traders are already in severe ‘blood in the streets’ territory. On-chain analytics platform Glassnode also highlighted how much XRP holders are currently underwater. In an X post, the platform noted that with price trading at $1.33, the percentage of XRP supply in profit has declined to 43.4%, the lowest level since July 2024. Glassnode had previously noted that a large portion of the XRP supply was sitting at a loss even when the price was trading around $2.15. This signaled that the XRP market was a “top-heavy and structurally fragile market,” dominated by late buyers. XRP Preparing For Another Leg Down Crypto analyst CasiTrades has indicated that XRP is preparing for another leg down, which could put XRP holders in further losses. She noted that the bounce from the U.S.-Iran ceasefire agreement is over now and that she is watching for a wave-3 down. The analyst also revealed that the ceasefire push over the last 24 hours sent XRP perfectly into the .618 retracement, which gave the market a clean wave-2 relief rally. Related Reading: Forget XRP Price Weakness, Investors Are Still Pouring In, And Wallet Figures Just Hit An Impressive Target CasiTrades acknowledged that the wave-2 move for XRP knocked out one of the smaller subwave counts, but that the bigger structure hasn’t changed. She added that the real move hasn’t happened yet and that she is still expecting a wave-3 move down toward $1.09, which the analyst warned could accelerate fast. The analyst had previously warned that XRP could drop towards $1.08, which is the macro .786 support, and then see another relief bounce before breaking lower into $0.87, which is the macro .854 support, marking the fifth wave of this bearish move down. At the time of writing, the XRP price is trading at around $1.33, down over 3% in the last 24 hours, according to data from CoinMarketCap. Featured image from Freepik, chart from Tradingview.com
On-chain data shows returns of the 1-year XRP buyers have plunged deep into the red, something that has signaled an opportunity in the past. XRP Has Seen Its 1-Year MVRV Ratio Plummet Recently In a new post on X, on-chain analytics firm Santiment has talked about the latest trend in the Market Value to Realized Value (MVRV) Ratio for XRP. The MVRV Ratio is a popular indicator that measures the ratio between the Market Cap and Realized Cap of a given asset. Related Reading: These 3 Signals Mark Bear Market Exits—Bitcoin Has Yet To Trigger Them In short, the Market Cap represents the value that investors are holding in the present, while the Realized Cap is a measure of the capital that they initially invested into the cryptocurrency. As such, the MVRV Ratio, which compares the two, contains information about the profit-loss balance of the network as a whole. In the context of the current topic, the MVRV Ratio of the entire market isn’t of interest, but rather that of two specific holder segments: 1-month and 1-year buyers. Below is the chart shared by Santiment that shows how the XRP MVRV Ratio has changed for these two groups over the last few years. As displayed in the graph, the XRP MVRV Ratio has recently been inside the negative zone for both the 30-day and 1-year investors. Thus, coins purchased over both the past month and past year have been underwater. This loss status among traders is naturally a result of the continued bearish price action that the asset has witnessed over the last few months. The situation has been especially bad for the 1-year buyers, who are in a loss of about 41% right now. This is the lowest level since December 2022, when the market was trading at lows after the FTX crash. Generally, the more are the investors in loss, the more likely is the market to reach a bottom as profit-sellers run out. Currently the 1-year MVRV level for XRP is so deep that it’s inside a region that the analytics firm defines as the “Opportunity Zone.” As Santiment explains: Because cryptocurrencies are zero sum trading games, significantly negative average returns (not just a price drop, but actual trader returns) imply that there is much lower risk than average in buying or adding on to your XRP positions, due to the fact that competing traders are already in severe ‘blood in the streets’ territory. Related Reading: Bitcoin Sharks & Whales Capitulate: Realized Loss Exceeds $200M Given this dominance of loss among the recent buyers, it now remains to be seen whether the market pain is enough for a bottom or if the cryptocurrency will see its bearish phase prolong further. XRP Price At the time of writing, XRP is trading around $1.32, down nearly 2% over the last 24 hours. Featured image from Dall-E, chart from TradingView.com
FTX will begin its fourth creditor distribution on March 31, with about $2.2 billion set to reach eligible customers through BitGo, Kraken, and Payoneer within 1 to 3 business days. On paper, this might look like just another routine bankruptcy milestone. But in practice, this could be a fresh liquidity test arriving as Bitcoin trades […]
The post Bitcoin has to survive a new major liquidity test today as $2.2B hits the market on top of geopolitical pressure appeared first on CryptoSlate.
This marks the fourth distribution for the bankrupt FTX exchange, which has already repaid over $6 billion to former users and investors.
US prosecutors said that Sam Bankman-Fried's motion failed to present any legitimate newly discovered evidence.
A crypto analyst has pinpointed critical price levels from past cycles on the Bitcoin chart that could determine the cryptocurrency’s next moves in this cycle. He has highlighted Bitcoin’s former all-time high target of $65,000 and a distinct 200-week Simple Moving Average (SMA) at $58,000 as key levels to watch. Bitcoin’s 200W SMA Highlighted As Key Watch Zone Crypto analyst VirtualBacon has taken to X to share new technical chart analysis, outlining two critical Bitcoin price levels he believes investors and traders should watch as the cryptocurrency continues its downward slide. Elaborating further in a video, VirtualBacon pointed to $65,000 and $58,000 as the zones worth paying attention to for anyone seeking a good buy opportunity in the current market environment. Related Reading: Elliot Wave Theory Says Bitcoin Price Is Headed To $40,000, But The End Game Will Shock You VirtualBacon highlighted $58,000 as his most closely watched level, where the 200W SMA currently resides. The analyst described this indicator as one of the most consistently reliable buying zones in Bitcoin’s history, citing a track record spanning multiple market cycles. He noted that during the 2015 bear market, Bitcoin’s price touched the 200W SMA four times without ever closing below it on a weekly candle. In 2018, the 200W SMA marked the absolute bottom of that cycle’s sell-off. The COVID-19 crash of 2020 also found support precisely at this same level. The one exception came in June 2022, when the price briefly wicked below the average before consolidating, then declined further by 25% following the collapse of FTX later that year. VirtualBacon acknowledged the 2022 breakdown but emphasized that the 200W SMA near $58,000 remains a highly significant level, given how consistently it has served as a floor throughout Bitcoin’s history. In his view, the $58,000 level represents an area where long-term investors have historically stepped in, often accumulating at the bottom ahead of a strong price rally. Analyst Marks Former Bitcoin ATH As Buying Opportunity In his analysis, VirtualBacon identified $65,000 as the first level to watch, which corresponds to Bitcoin’s previous all-time high from the 2021 bull cycle. The analyst noted that Bitcoin has already reached this area in the current cycle, arguing that, historically, former ATHs often become meaningful support when price revisits them. For investors who agree with this thesis, the analyst has suggested considering $65,000 as a potentially reasonable entry point into the market. Related Reading: Bitcoin Fear Has Been This Low Only 2 Times In History, Here’s What Follows Each Time Notably, VirtualBacon’s Bitcoin analysis comes at a time when sentiment across the crypto market remains fragile, with retail investors unsure whether the decline in the BTC price signals a strategic buying opportunity or the beginning of a deeper pullback. Bitcoin’s prolonged sideways trading has also done little to restore confidence, instead fueling fear among market participants. Earlier this week, the cryptocurrency briefly fell below $64,000 after reports emerged about the US and Israel airstrikes on Iran. The cryptocurrency has since rebounded above $70,000, marking a 24-hour increase of more than 8%. Featured image from Pixabay, chart from Tradingview.com
Former FTX CEO Sam Bankman-Fried's support of a broader cryptocurrency bill isn't sitting well with either side of the aisle in the Senate.
Despite former FTX CEO Sam Bankman-Fried's near-daily posting on X, his efforts to sway President Trump seem not to be working.
XRP’s derivatives markets are still showing signs of bearish pressure, with funding rates across major exchanges now in negative territory. According to real-time data, funding rates have been predominantly below zero in recent trading sessions, with the lowest exchange funding rate recorded around -0.0748%. At the same time, open interest has returned to levels associated with long-term base zones in previous years. Could this environment lead to a turning point, or is further downside still unfolding for XRP’s price action? Bearish Derivatives Positioning Shows In Deeply Negative Funding Real-time funding metrics from Coinglass reveal that XRP’s average funding across major exchanges has dipped into negative readings, and several crypto exchanges are on bearish rates. At the time of writing, the lowest funding observed is at -0.0748%, which is a clear indication that short positions are currently dominating sentiment. Related Reading: Analyst Reveals What XRP Price Will Move Toward In Bid For $4 Negative funding rates mean that perpetual futures shorts are paying longs, and bearish bets outweigh bullish ones across exchanges. In practice, heavily negative funding can reflect overcrowded short exposure. However, this is a condition that sometimes precedes sharp rebounds if the price begins to stabilize, as short sellers may eventually be forced to cover. Technical analysis posted on the social media platform X by crypto analyst Osemka shows that XRP’s aggregated funding rate, weighted by open interest, is in deep negative territory on a weekly timeframe. As it stands, this metric is now at its lowest level since late 2022, only bested by the week of the November 2022 FTX crash. However, the interesting thing is that the prolonged period of negative funding back then marked a bottom in 2022. Open Interest Returns to Multi-Year Base Levels Open interest has also dropped significantly alongside funding in negative levels. The weekly aggregated open interest metric is now sitting on levels associated with previous multi-year accumulation bases. This base, shown in the chart above, has been acting as the base level for open interest since October 2022. Each time open interest has revisited this zone since then, it has been followed by a rebound to higher levels. Related Reading: Here’s The Mistake Most People Are Making With XRP; Pundit Reveals In terms of price action, XRP has been struggling to find a sustainable bottom because the wider crypto market is yet to turn bullish. As it stands, XRP now needs to hold above two intermediate supports. The first of these is around $1.45, where recent daily candles have registered wicks. Beneath this lies a larger demand area roughly spanning $1.15 to $1.30. On one hand, the negative funding rate points to bearish positioning stress, but history shows this has always occurred just before lows. At the time of writing, XRP is trading at $1.49, although it recently traded above $1.60 during the weekly open. A weekly close above $1.50 will be the first step to confirming a return to bullish momentum. Featured image from iStock, chart from Tradingview.com
After an extended period of relative stability, Bitcoin has entered a renewed phase of volatility, with price swings accelerating to levels not seen in nearly a year. The sudden shift signals a potential turning point in market dynamics, as tightening liquidity conditions, changing investor sentiment, and increased trading activity drive sharper movements across the crypto market. How Rising Volatility Signals A Change In Market Regime Bitcoin volatility has returned to levels not seen in almost a year. A full-time crypto trader and investor, Daan Crypto Trades, has highlighted on X that ever since the tariff-related market dump, BTC price action has remained unusually slow, and it is rare to see a daily candle move of 5% or more. Over the past few weeks, the broader market breakdown has seen a notable change. Related Reading: Bitcoin Price Holds The Line, But Can Bulls Force A Break Higher? The rise in volatility mirrors broader instability across all other markets, which is definitely not a calm period for markets around the world. Meanwhile, elevated volatility often creates attractive opportunities for short-term traders. Daan emphasized that his primary focus remains on the next larger market swing and accumulating BTC at the lowest possible levels, with a long-term horizon in mind. According to investor Jelle, buying Bitcoin at the bottom of the last cycle is not because he anticipated the exact price, but because the market showed remarkable resilience following the collapse of FTX. When FTX collapsed, BTC sold off roughly 20%, but in a market deep into a bear phase, the price action began moving sideways, sweeping previous lows and eventually forming higher lows. After months of downside, the market had already absorbed so much negative information that even a major systemic shock failed to drive prices significantly lower. Jelle noted that these structural shifts bear losing strength and bulls gradually regaining control are the key signals he is watching for again. While there are price levels where he’s willing to take action, the decision ultimately depends on the broader market context. The focus is on bears losing momentum and bulls starting to show early signs of strength, because the market will eventually show its resilience. From Accumulation To Price Discovery Bitcoin has entered a critical accumulation phase that could define the next nine months of the cycle. Analyst Aralez stated that the price has entered a zone where the market will form a bottom, but growth should not be expected within 3 to 5 months of accumulation before the breakout. Related Reading: Bitcoin Sharpe Ratio Sinks To Historical Lows — Accumulation Next? However, the outlook suggests that this accumulation phase will eventually resolve to a decisive move higher, leading to a new all-time high near $130,000. After a confirmed break above $126,000, it could open the door to $250,000. Under this scenario, Ethereum and other high-cap altcoins are expected to follow BTC’s momentum. Also, altseason and Memecoin season will revive, showing 100 times growth in days. Featured image from Getty Images, chart from Tradingview.com
Resilience built from the debris of 2022 is now shaping the Solana ecosystems future, leaders from Jupiter, Backpack, Kamino and DoubleZero argued at Consensus Hong Kong 2026.
The incarcerated former leader of the failed crypto exchange wants a new chance to defend against fraud charges.
Former FTX CEO Sam Bankman-Fried is seeking a new trial after being found guilty on multiple fraud charges.