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The selling pressure from short-term holders may exasperate a potential dip in September.
This growth is notable, especially since just two months ago, surpassing 100,000 subscribers had already spiked HNT's price by 40%.
The Ethereum Foundation plans to release a financial report “relatively soon” to address community concerns surrounding its spending, according to researcher Justin Drake.Japan’s three major banks, MUFG, SMBC and Mizuho, are set to test a cross-border stablecoin transfer platform dubbed “Project Pax.”U.S. spot Bitcoin ETFs saw $211.1 million in net outflows on Thursday, marking the seventh consecutive day of negative flows totaling over $1 billion.The following article is adapted from The Block’s newslette
DOGS has dipped after its team airdropped 40 billion tokens over the past two days, yet its recent momentum should help it recover soon.
UTB faces a 90-day deadline to overhaul its AML and risk management programs, following an investigation into its crypto clientele practices.
- 07:11South Korean Presidential Candidate Lee Jae-myung: Proposes Issuing a Korean Won StablecoinDemocratic presidential candidate Lee Jae-myung proposed the introduction of a stablecoin pegged to the Korean won. However, there is currently no clear answer on whether a license is required for stablecoins or if registration alone suffices. Even the question of who will regulate it—whether the Bank of Korea or the Financial Services Commission—remains unresolved.
- 07:10Former Executive of Crypto Lending Firm Cred Admits to Wire Fraud ChargesAccording to Cointelegraph, former CEO Daniel Schatt and CFO Joseph Podulka of the bankrupt crypto lending platform Cred have admitted to charges of wire fraud in a federal court in California. As per the plea agreement, both acknowledged inducing customers to lend funds through selective information disclosure, resulting in user losses ranging from $65 million to $150 million. The judge is set to sentence on August 26, with the prosecution recommending prison terms of 72 months and 62 months, respectively. After Bitcoin plummeted 40% in March 2020, Cred was on the brink of bankruptcy due to its inability to meet margin requirements, yet executives continued to conceal risks from new customers. Investigations revealed that the platform actually relied on MoKredit's unsecured microloan business, contrary to its claimed "fully collateralized lending" model. When Cred went bankrupt in November 2020, customer losses exceeded $150 million, but some assets are now valued at $783 million.
- 07:10New Hampshire Treasury Department Warns Residents of Bitcoin Scam Calls Impersonating Government OfficialsAccording to Bitcoin.com, on May 13, the New Hampshire Treasury Department issued a notice reminding residents to be wary of Bitcoin scam calls impersonating government officials. Scammers use fake official phone numbers, falsely claiming that the victim's identity has been stolen, and induce them to transfer "protective funds" via Bitcoin. The state treasury emphasized that government agencies will never request payments or transfers in Bitcoin and advised the public to hang up immediately and report such calls to the FBI's Internet Crime Complaint Center. A week before this warning was issued (May 6), New Hampshire had just passed the nation's first "Strategic Bitcoin Reserve" bill, allowing the state treasury to allocate up to 5% of public funds to Bitcoin and other cryptocurrencies with a market value exceeding $500 billion.