A federal judge in New York has ordered Eddy Alexandre, founder of the collapsed crypto platform EminiFX, to pay more than $228 million in restitution after ruling that the company was a Ponzi scheme that defrauded tens of thousands of investors. The US Commodity Futures Trading Commission (CFTC) secured summary judgment against Alexandre and EminiFX,…
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Cryptocurrency investment products expanded their losses on Tuesday, with Bitcoin fund outflows surging more than 300% and Ether losses doubling, both ranking as the second-largest outflows this month. Spot Bitcoin (BTC) exchange-traded funds (ETFs) saw $523 million in outflows on Tuesday, rising more than fourfold from Monday, according to Farside Investors data. Ether (ETH) ETFs…
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Retail crypto traders have seemingly flipped bearish after Bitcoin failed to pick itself up from a recent dip below $113,000, clocking a 17-day low. “Retail traders have done a complete 180 after Bitcoin failed to rally and dipped below $113,000,” said analysts at blockchain analytics firm Santiment on Wednesday. Santiment also reported that the past…
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The derivatives arm of trading platform Robinhood has sued regulators in Nevada and New Jersey in a bid to head off potential enforcement action from the states over its sports event contracts. In a pair of complaints on Tuesday against Nevada and New Jersey gaming regulators and their attorneys general, Robinhood Derivatives said it started…
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Global search interest in altcoins plunged significantly this week as Bitcoin and altcoins continued to retrace over the past six days, according to new data. Worldwide searches for the term “alt season” fell to a score of 45 on Tuesday, down from a peak of 100 just a week earlier on Aug. 13, a day…
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Harvard economist Kenneth Rogoff, who once predicted Bitcoin would sooner crash to $100 before it hits $100,000, has admitted a lot has changed since his comments seven years ago — though he seemingly still hasn’t come around to Bitcoin. “Almost a decade ago, I was the Harvard economist that said Bitcoin was more likely to…
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Michael Saylor’s Strategy (MSTR) has dropped to its lowest level in nearly four months amid a broader decline in crypto treasury firms, a Bitcoin dip, and after Saylor indicated the company would lower restrictions on issuing more shares. The stock price has fallen 8% since Monday, and the plunge also comes alongside an 8.6% decline…
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Crypto exchange WazirX users are potentially one step closer to recovering funds more than a year after a $234 million hack of the exchange — with 95% of voting creditors greenlighting a new restructuring plan that had been shot down by the Singapore High Court earlier this year. WazirX lost $234 million of crypto from…
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The Federal Reserve’s top regulatory official says staff from the US central bank should be allowed to invest a small amount in crypto to help them understand the technology. Fed vice chair for supervision Michelle Bowman said at a blockchain event in Wyoming on Tuesday that the regulator should consider allowing its staff “to hold…
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Key takeaways: Bitcoin’s options market signals extreme fear, but historical patterns show potential for significant rebounds. Global economic pressures from US trade tariffs negatively affected traders’ sentiment. Bitcoin (BTC) fell below $113,000 for the first time in over two weeks, surprising traders and triggering the liquidation of $113 million in leveraged long positions. The sharp…
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