The United States government has recently announced a substantial reward of up to $5 million for any information leading to the arrest of Ruja Ignatova, the founder of OneCoin. This development comes as part of a joint investigation conducted by Bulgarian and American authorities into a large-scale financial fraud and money laundering scheme. One Of The FBI’s Most Wanted Bulgaria’s temporary chief prosecutor, Borislav Sarafov, highlighted the collaborative efforts between Bulgarian and US law enforcement agencies in tackling the case. Sarafov emphasized the ongoing investigations in both countries against Ignatova, who is facing charges related to the notorious OneCoin financial pyramid scheme. Furthermore, Sarafov revealed plans to initiate legal proceedings in Bulgaria, aiming to charge Ignatova in absentia and facilitate the seizure of assets acquired through illicit means. Related Reading: Can Terra Classic Rise From The Ashes? Analyst Foresees 1,500% Price Increase US Ambassador Kenneth Merten underscored the gravity of the charges against Ignatova, labeling the OneCoin scheme as one of the largest frauds in history. Victims of this scheme have allegedly been defrauded of over $4 billion. Plamen Tonchev, the head of Bulgaria’s State Agency “National Security” (SANS), shed light on Ignatova’s role in the OneCoin scheme, describing it as a “fraudulent financial operation” closely resembling a pyramid scheme. The Rise And Fall Of OneCoin The story of OneCoin dates back to 2014, when Ruja Ignatova founded the company, claiming that it functioned just like any other cryptocurrency. However, it was revealed that there was no authentic OneCoin blockchain model or payment system. As questions and investigations started to arise in multiple countries, with some labeling it a pyramid scheme, the credibility of OneCoin began to crumble. The Norwegian Direct Selling Association was among the first to denounce the fraud as a pyramid scheme in March 2016, followed by a warning from the Hungarian Central Bank in May of the same year. Related Reading: Bitcoin Selloff: German Gov’t Offloads Another $67 Million As Price Wobbles In 2017, OneCoin falsely claimed to be the first company licensed by the Vietnamese government for use as a digital currency, a claim that Vietnam promptly refuted. The following year, the Bulgarian police raided OneCoin’s office, resulting in Ignatova’s disappearance when an arrest warrant was issued. Ignatova’s brother, Konstantin Ignatov, subsequently assumed company leadership, while co-founder Sebastian Greenwood was arrested in 2018. Konstantin himself was apprehended in November 2019 and later pleaded guilty to fraud and money laundering charges. Ignatova, a fugitive since evading arrest by fleeing from Sofia to Athens in 2017, was added to the FBI’s 10 Most Wanted Fugitives list in 2022. Featured image from DALL-E, chart from TradingView.com
North Carolina Governor Roy Cooper will now either sign or veto the law that bars the state’s government from accepting a Federal Reserve CBDC, potentially joining Louisiana.
Nearly all UMA voters said that the son of Donald Trump was not involved in the creation of the DJT token
In a recent surge of online discussion, renowned crypto analyst and entrepreneur Willy Woo has made headlines with his optimistic prediction for Bitcoin’s future on Elon Musk’s social media platform, X. Woo suggests that Bitcoin, already gaining traction among traditional financial circles as an emerging asset class, could see exponential growth. He argued that if Bitcoin continues to be perceived at the scale of major asset classes, traditionally valued in the tens of trillions of dollars, it could potentially increase in value tenfold in the coming years. Related Reading: Bitcoin’s Correction Is Not Done: $54K Could Be On The Horizon, Says Top Analyst Current Market Dynamics and Predictions Woo’s insight comes at a critical time for Bitcoin, which currently faces fluctuating market conditions. Despite the downturn, he projects that Bitcoin could rival the US dollar and emerge as a global reserve asset by the 2030s, aligning with a projected 25-40% global adoption rate. His stance is rooted in the growing recognition of Bitcoin on Wall Street, highlighting a significant shift in how traditional financial markets are beginning to view digital currencies. Everyone asking “when?” I’d say when we into the range of 25-40% world adoption. I.e. 2030s pic.twitter.com/Sdsw5PNrZM — Willy Woo (@woonomic) June 25, 2024 Despite Woo’s long-term optimism, Bitcoin’s immediate trajectory remains challenged, with recent data indicating a decline. Over the past week, Bitcoin has seen a reduction of 5.3% in value, with a slight 0.1% drop in the last 24 hours, stabilizing at a market price of $61,486. Keith Alan, Co-founder of TeamBlacknox, remains cautiously optimistic, noting that while Bitcoin could retest its lows, the broader trend could remain “intact” if monthly closures stay between $56.5k and $61.8k. Gauging Bitcoin Potential Rebound and Future Growth Adding to the discourse, CryptoQuant analyst Gustavo Faria highlighted signs that Bitcoin might have reached a local bottom. The analysis pointed out a reduction in open interest in the futures market and a drop in funding rates for perpetual contracts, suggesting a balance restoration between buyers and sellers. This equilibrium is crucial for maintaining a healthy market structure without excessive optimism that typically leads to sharp corrections. Signs of a Local Bottom? After a 15% correction, #Bitcoin shows potential signs of a local bottom. Open interest has declined, funding rates are near zero, suggesting a more balanced market. Crucial U.S. economic data incoming. Is the tide turning? – By Gustavo Faria Full post… pic.twitter.com/nRCDVawmFa — CryptoQuant.com (@cryptoquant_com) June 26, 2024 The ongoing discussion around Bitcoin’s future also considers broader economic indicators such as upcoming US macroeconomic data, including GDP, initial jobless claims, and inflation data. These factors are poised to influence market sentiment significantly in the near term. Furthermore, Bitcoin’s positioning on the Bitcoin Rainbow Chart, which currently indicates a “Buy” zone, and historical price cycles following Halving events suggest further potential for growth. Related Reading: True Correction Underway? Over $500 Million Exits Bitcoin ETFs — Coinshares Analysts anticipate that these technological and market cycles could propel Bitcoin’s price to as high as $260,000 by around September-October 2025. Featured image created with DALL-E, Chart from TradingView
Hong Kong is positioning itself as a leader in the global fintech landscape by focusing on crypto-related sectors such as decentralized finance (DeFi) and the Metaverse. Recent government-backed studies conducted by the Hong Kong Institute for Monetary and Financial Research (HKIMR), part of the Hong Kong Academy of Finance (AoF), have underscored the importance of […]
Marathon is looking to “capitalize on higher margins” possible with Kaspa mining — but one executive stressed the firm is in no way “pivoting” from its main focus, Bitcoin.
The post Bitcoin Price Prediction : Historical Data Hints BTC Price To See Double Gains in July appeared first on Coinpedia Fintech News
The cryptocurrency industry, led by Bitcoin (BTC), has registered heightened selling pressure in the past few weeks. Although most of the altcoins have experienced a relief rebound in the past few days, further crypto market correction could be registered ahead if the buyers do not regain control. Bitcoin Whales’ Activity on the Rise The German …
Nearly a month after Caitlyn Jenner launched her JENNER token, the celebrity memecoin frenzy continues. This time, iconic heavy metal band Metallica joined the list of public figures involved with Solana tokens. However, the band’s participation in the crypto industry was yet another X account hack targeting investors. Related Reading: Will Bitcoin Have A ‘Red Monday, Green Week’? Analyst Sets $63,500 Target Solana-Based METAL Takes Over Crypto The iconic heavy metal band Metallica recently announced a collaboration with the popular videogame Fortnite. The collaboration seemingly aims to bring the band’s music to a new demographic of music enjoyers. Nonetheless, the announcement was eclipsed by the Metallica X account’s failed “attempt” to “join” a different community. On Tuesday night, the account shared a post offering a Solana-based token to their fans. The post announced the launch of METAL, an alleged collaboration between the band and Ticketmaster. The token was described as a “dynamic new token on the Solana blockchain poised to revolutionize how you experience events and online shopping.” Unlike other celebrity memecoin scams, the token offered utility from the get-go. Users who used METAL to buy concert tickets would receive exclusive Ticketmaster discounts of up to 25%. METAL holders would also get the chance to win free tickets through “exclusive airdrops.” The X posts announced three signed “insanely rare Metal Token Xbox Series X consoles” for the token holders. Additionally, it promised the METAL token would “seamlessly integrate into your shopping experience, powered by the reliability of Solana for effortless transactions.” Master Of Tokens Or Master Of Nothing? Metallica fans and crypto investors quickly became wary of the posts. Users began debating whether the announcements were fake and if the account had been hacked. One X user suggested the band would not “ruin their reputation by launching a shitcoin” and rugging it. Despite the user’s initial suspicion, several users fell into the meticulously planned scam. As a community member pointed out, the graphics for the posts, and the posts themselves, were “pretty well done.” The attackers also assured users that METAL was not a scam and the band was “in it for the long haul.” The hacker also claimed that the crypto payment company MoonPay was collaborating with the band. However, the company quickly denied their involvement, stating that the responsible for the hack was not the master of puppets but the “master of scams.” As an X user pointed out, the Solana-based token’s market capitalization surpassed $2 million. However, it quickly plummeted after the band recovered access to the X account and deleted the promotional posts. Related Reading: Fact Or Fantasy? Decoding The Bitcoin Rainbow Chart’s $250,000 Prediction Nonetheless, one investor managed to become a master of tokens. Online reports revealed that a trader turned a $3.380 investment into $24,600. The “lucky” investor bought the tokens at a $50,000 market cap and sold at the high of the scam. As of this writing, the token is trading at $0.00002031, a 99.3% decrease from its highest price of $0.003353. Furthermore, METAL’s market cap is $20,000, representing a 9000% drop. Featured Image from Unsplash.com, Chart from TradingView.com
An analyst has explained when Bitcoin could grow large enough to rival even the US Dollar (USD) based on its historical adoption curve. Bitcoin Needs To Grow Its Adoption This Much To Challenge The USD In a new post on X, analyst Willy Woo has discussed what the expectation around the original cryptocurrency has been […]
Chiliz, a leading blockchain platform specializing in sports and entertainment fan tokens, is embroiled in a legal dispute with a former Korean employee who claims the company failed to deliver $10 million worth of promised tokens as part of his compensation package. Local media reported on June 26 that the former employee — identified as […]
The post Chiliz facing lawsuit filed by former employee over $10 million unpaid tokens, wrongful termination appeared first on CryptoSlate.
OpenAI pushed back the release of its Voice Mode for ChatGPT, and users are not happy.
Coinbase said it would not facilitate the migration of two assets related to the Artificial Superintelligence Alliance (ASI) token merger in a June 26 statement. Instead of executing migrations for Ocean Protocol (OCEAN) and Fetch.ai (FET) on behalf of users, the exchange plans to continue supporting trading for each asset until further notice. Coinbase said […]
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Bitcoin, Ethereum, and top altcoins are falling at spot rates. As of writing, Bitcoin is teetering around the $60,000 level and still unable to reverse the sharp losses of June 24, when prices cratered, dipping to the $50,000 territory. Bitcoin And Ethereum Put-Call Ratio Falling Even so, there appear to be changes. According to Kaiko, […]
According to Yuri Group, the Yamakoshi village’s experimental NFT strategy could attract attention from other nations facing declining birth rates.
Dogecoin (DOGE) whales look to have used this recent price crash as an opportunity to accumulate the foremost meme coin. This provides a positive development for Dogecoin, and the meme coin has already reacted positively, seeing how its price has recovered in the last 24 hours. Dogecoin Whales Accumulate More DOGE Data from the market intelligence platform IntoTheBlock shows that Dogecoin witnessed $1 billion in large transactions these past few days. Large transactions refer to ones that involve $100,000 worth of Dogecoin or more being traded. An increase in the large transactions suggests that whales are either accumulating more Dogecoin or looking to offload their tokens. Related Reading: Shiba Inu Enters Accumulation Zone Amid 493% In Shibarium Transaction Fees Further data from IntoTheBlock suggests that these whales are indeed accumulating more Dogecoin following this recent market decline. The net flows to exchanges metric has been negative over the past seven days, which shows that these whales have been buying the dip rather than moving their holdings to exchanges to offload their tokens. This presents a bullish outlook for DOGE and again highlights these investors’ conviction in the foremost meme coin. This wave of accumulation by Dogecoin whales is also significant as it could help spark a price recovery for Dogecoin, which had dropped to as low as $0.11 following the recent market decline. Besides this wave of accumulation, Dogecoin already looked poised to rebound to the upside as the market value to realized value (MVRV) ratio showed that the meme coin was greatly undervalued at its current price levels. Crypto analyst Kriss Pax also recently predicted that Dogecoin should enjoy a massive bounce from here and significantly move to the upside. The analyst alluded to DOGE’s relative strength index (RSI) which he noted painted a bullish picture for the meme coin. Interestingly, he suggested this was the right time to buy Dogecoin as he didn’t foresee the meme coin going lower than its current price level. Pax also alluded to the growing altcoin dominance, which could usher in the altcoin season when coins like Dogecoin are expected to enjoy a massive rally. DOGE Will Still Reach As High As $2 In This Market Cycle Crypto analyst Crypto Kaleo recently provided a bullish narrative for Dogecoin, predicting that the foremost meme coin can rise to $1 and $2 in this bull run. He noted that the foremost meme coin has traded sideways for most of its existence, but when it pumps, it is always parabolic, alluding to how the meme coin had rallies where it enjoyed a 6,000% and 30,000% price gain in the past. Crypto Kaleo mentioned that these moves occurred 8 to 9 months after the previous halvings. Based on historical trends, it is fitting that DOGE doesn’t enjoy a real breakout until sometime between December this year and February next year. Related Reading: Spot Bitcoin ETFs See 7 Consecutive Days Of Outflows, Here’s What Happened Last Time Crypto Kaleo predicts that Dogecoin could drop to as low as $0.08, retracing its price levels before the massive rally it enjoyed this year. He claims that such a move would be similar to the -30% drawdown and retrace that occurred in August 2020, several months before Dogecoin wet mainstream and began to pump massively. Featured image created with Dall.E, chart from Tradingview.com
The collective entities known as “Abra” and CEO William “Bill” Barhydt have reached a settlement with 25 US state regulators for offering crypto trading services without securing appropriate licenses, according to the Conference of State Bank Supervisors (CSBS) June 26 press release. As part of the settlement, the 25 state regulators agreed to forgo monetary […]
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Onchain Highlights DEFINITION: The Bitcoin Power-Law Model provides a mathematical description of Bitcoin’s historical price trends, revealing a power-law distribution on a log-log scale. This analysis suggests a correlation between time and price. However, the model’s foundation on historical data and the issue of non-independent sequential price points raise questions about its broader applicability. Bitcoin’s […]
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Other states can join in the settlement, which will see up to $82.1 million returned to customers.
Popular cryptocurrency exchange, Bitrue has urged investors to go all in on XRP, suggesting the cryptocurrency’s potential to surge dramatically to new levels. The crypto exchange’s promotion of the declining digital asset has triggered a significant backlash from various crypto community members. Bitrue Advocates Full Investment In XRP Bitrue has advocated for crypto community members […]
The Bitcoin halving hype has long passed, and this month’s massive options expiry provides insight into the future of the current BTC bull market.
Nigeria’s Securities and Exchange Commission (SEC) has issued a 30-day ultimatum for crypto exchanges and digital asset traders to re-register their businesses, warning of enforcement actions against non-compliance. In a statement released on June 21, the SEC announced the initiation of the Accelerated Regulatory Incubation Program (ARIP) for Virtual Assets Service Providers (VASPs). The program […]
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A quant has pointed out how the trends in the BitMEX exchange reserve have affected the Ethereum price during the past few years. BitMEX Ethereum Whales Have Shown Smart Money Behavior In Recent Years In a CryptoQuant Quicktake post, an analyst discussed a pattern in the ETH exchange reserve of the BitMEX platform. The “exchange reserve” here refers to an on-chain metric that keeps track of the total amount of Ethereum that’s sitting in the wallets of any given centralized exchange. When the value of this metric rises, investors will make net deposits to the platform right now. As one of the main reasons investors transfer to exchanges is for selling purposes, this trend can have potential bearish implications for the asset’s price. On the other hand, a decline in the indicator suggests a net amount of the cryptocurrency’s supply is moving off the wallets associated with the exchange. Investors generally take their coins off into self-custody when they plan to hold for extended periods, so such a trend could be bullish for the coin. Related Reading: This Historical Ethereum Top Signal Is Yet To Appear This Cycle Now, here is a chart that shows the trend in the Ethereum exchange reserve for BitMEX over the last few years: As is visible in the above graph, the Ethereum exchange reserve on the BitMEX platform observed a sharp increase back in mid-2022. This would suggest that the investors had made some hefty net deposits into the exchange. According to the quant, the platform houses a significant number of whales, so this large inflow activity would reflect the behavior of these humongous investors. Interestingly, the rapid growth in the indicator had come right before ETH had crashed towards its bear market lows. Thus, it would appear possible that these large holders had anticipated that things were about to get worse for the asset, so they had pulled the trigger on selling while they still had the chance. Another notable shift in the exchange reserve of BitMEX occurred in September 2023, when the whales took out a huge amount of Ethereum, almost completely retracing the earlier bear market increase. From the chart, it’s apparent that soon after these net outflows occurred, the cryptocurrency’s price started on a sharp rally that would eventually take it above the $4,000 level for the first time since December 2021. Related Reading: Shiba Inu, Solana, & Cardano Are All Seeing Buy Signal: Analyst It would appear that these smart money whales were again correct in their intuition about the market, as they could time their buys just in time for the rally. Since these net outflows in September, the indicator hasn’t displayed any significant shifts, as its value has been moving sideways. Given the historical trend, any new deviations that crop up could be worth watching out for, as they could potentially spell another shift for Ethereum. ETH Price Ethereum showed a recovery push from its lows yesterday, but the run has calmed down as ETH is still trading around $3,400 today. Featured image from Dall-E, CryptoQuant.com, chart from TradingView.com
Crypto exchange BloFin believes the imminent launch of spot Ethereum exchange-traded funds (ETFs) in the US will drive a short-term surge in ETH prices as investors shift their attention from Bitcoin to the second-largest crypto asset by market capitalization, according to a June 26 research note shared with CryptoSlate. The exchange, citing various data points such […]
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The launch of spot Ethereum ETFs could trigger massive capital inflows into the market, according to Bitwise CIO Matt Hougan.
In a landmark case brought by the US Department of Justice (DOJ), two individuals have been convicted of manipulating the price of a crypto asset deemed a “security” and allegedly conspiring to defraud investors by purchasing Hydrogen Technology’s HYDRO cryptocurrency. The federal jury’s verdict resulted in significant prison terms for the defendants and established a crucial […]
Onchain Highlights DEFINITION: The mean hash rate is the average estimated number of hashes per second produced by the network’s miners. Bitcoin’s mean hash rate, represented by the 7-day moving average, has exhibited notable fluctuations throughout the first half of 2024. The hash rate peaked above 650 EH/s in mid-April, coinciding with the latest halving […]
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Data from Arkham Intelligence indicates the Bitcoin was seized from Banmeet Singh, a convicted drug dealer, during his January 2024 trial.
Ethereum has outperformed Bitcoin in the recent market downturn, and DiamondSwap's Hank Wyatt shares insights about this movement.
The post Ethereum rebounds post-sell-off while Bitcoin continues to lag; expert explains why appeared first on Crypto Briefing.
This U.S. presidential election has been the first where cryptocurrencies have come up as a major policy issue, and the industry is lobbying (and bracing for) the possibility that President Joe Biden and former President Donald Trump may bring it up when they face off in a Thursday debate.
The US government moved 3,940 Bitcoin to an exchange on June 26, leading to speculation of a sell-off, according to Arkham Intelligence data. The Bitcoins in question were seized from drug trafficker Banmeet Singh and are worth roughly $240 million as of press time. The tokens were moved from the US government’s wallet — which […]
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