Business

6 May

Crypto Snapshot: Top Stories and Trends You Need to Know Today

As the cryptocurrency market continues to evolve, staying informed on the latest developments is key to navigating its volatility and seizing opportunities. Here’s a quick snapshot of today’s top stories and trends impacting the crypto world: 1. Bitcoin Faces Resistance as Price Struggles to Break $30,000 Bitcoin’s price has remained largely range-bound, hovering around the $29,500-$30,000 mark. Despite strong institutional …

6 May

Cracking Down on Crypto Fraud: $3.5B ‘Pig-Butchering’ Scheme Linked to Karen National Army

The U.S. Treasury Department has launched a significant crackdown on a sprawling crypto fraud empire, exposing a shocking $3.5 billion “pig-butchering” scam operation with ties to the Karen National Army (KNA), a Myanmar-based ethnic militia group. This groundbreaking investigation reveals how a sophisticated web of deceptive schemes has targeted vulnerable individuals across the globe, funneling billions of dollars into criminal …

6 May

High Stakes: Bybit’s 500x Leverage on Stocks and Gold—Breakthrough or Blowback?

Bybit, one of the leading cryptocurrency exchanges, has recently made waves by introducing 500x leverage on U.S. stocks and gold—a move that could revolutionize retail trading, but not without serious risks. The offering, which allows traders to control positions worth up to 500 times their initial investment, is raising questions about whether this is a breakthrough for the financial industry …

6 May

Trump’s Crypto Prediction Under Fire as $800M Volume Surge Shakes Markets

A dramatic shift in cryptocurrency markets has placed former President Donald Trump’s price prediction for digital assets under scrutiny, following an unexpected $800 million surge in trading volume. The massive dump has left investors and analysts questioning the accuracy of Trump’s forecast, as well as the stability of the market in the face of such volatility. Trump, who has recently …

6 May

GOP to Democrats: Catch Up or Step Aside—GENIUS Act Hits the Floor Thursday

Republican lawmakers are pressing forward with the long-awaited GENIUS Act, a landmark bill aimed at establishing a federal regulatory framework for stablecoins, as it heads to a floor vote in the House on Thursday—despite mounting objections from Democratic members. The bill, formally known as the Guaranteed Essential Neutrality in the Issuance of Stablecoins (GENIUS) Act, seeks to clarify the roles …

6 May

CBDC Slowdown: Russian Economist Expects Digital Ruble Delay

The rollout of Russia’s central bank digital currency (CBDC), the digital ruble, may be postponed until 2027, according to comments from a prominent Russian economist. The delay could signal broader challenges in the country’s efforts to modernize its financial infrastructure amid shifting geopolitical and economic conditions. Speaking to Russian media, economist Vladislav Ginko noted that although the Central Bank of …

6 May

Waters Says No: Top Democrat to Object to Upcoming Crypto Hearing

Rep. Maxine Waters (D-CA), the Ranking Member of the House Financial Services Committee, has announced her intention to object to an upcoming congressional hearing focused on cryptocurrency policy, signaling continued partisan division over how the U.S. should regulate the digital asset industry. The hearing, scheduled by the Republican-led committee, is expected to explore various legislative proposals aimed at establishing a …

6 May

BTC Flight: KuCoin Faces Turmoil as Reserves Collapse and 14K Coins Exit

KuCoin, one of the world’s largest cryptocurrency exchanges, is experiencing a significant crisis of confidence as its Bitcoin (BTC) reserves have reportedly plummeted by 77% over recent weeks. According to on-chain data, more than 14,000 BTC—worth hundreds of millions of dollars—have been withdrawn from the platform, raising concerns about the exchange’s liquidity and solvency. The mass outflow follows heightened regulatory …

6 May

Samourai vs. the State: Wallet Devs Allege Fed Suppression of Exculpatory Crypto Rules

In a bold legal counteroffensive, developers behind the privacy-focused Samourai Wallet have accused the U.S. federal government of suppressing guidance that could have cleared them of wrongdoing related to their crypto mixing technology. The allegations come amid a growing legal battle following the arrest of Samourai Wallet developers Keonne Rodriguez and William Hill, who face charges for allegedly operating an …

5 May

The Maldives Gets a Blockchain Boost with $8.8B Investment from Dubai Firm

In a groundbreaking move that is set to reshape the financial landscape of the Indian Ocean, a Dubai-based firm has announced plans to invest $8.8 billion into developing a blockchain-powered financial hub in the Maldives. The ambitious project aims to position the Maldives as a leading center for blockchain innovation, offering a mix of state-of-the-art technology and a favorable …