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Hackers Turn the Tables on LockBit, Leak Thousands of Bitcoin Wallets

Thursday, May 8, 2025 / No Comments

bitcoin hacked illustration
 In a dramatic turn of events, nearly 60,000 Bitcoin addresses linked to the LockBit ransomware group were exposed following a breach of the gang’s dark web infrastructure. The attackers behind the breach published a MySQL database dump containing detailed crypto-related data, potentially aiding authorities and analysts in tracing LockBit’s illicit financial activity.

The breach targeted LockBit’s affiliate panel, revealing 20 database tables, including one containing custom ransomware builds tied to specific targets. Another table, labeled “chats,” held over 4,400 messages documenting negotiations between the cybercriminals and their victims.

Despite the large number of wallet addresses leaked, no Bitcoin private keys were compromised. A LockBit affiliate confirmed the breach in a conversation shared on X (formerly Twitter), while insisting that no sensitive access credentials were lost.

LockBit, considered one of the most dangerous ransomware syndicates globally, has previously been the focus of a multi-nation crackdown. In February 2024, a coalition of 10 countries coordinated an operation that severely disrupted its operations.

Security researchers at Bleeping Computer noted similarities between this breach and a prior compromise of the Everest ransomware site, suggesting a potential connection between the two incidents. The same defiant message “Don’t do crime. CRIME IS BAD xoxo from Prague” appeared in both hacks.

The exposure of these addresses provides investigators with a new avenue to track ransomware payments and potentially link them to real-world identities, underscoring the critical role of cryptocurrency in modern cybercrime.

Bitcoin Daily Profits Hit $1B as Analysts Warn of Possible Market Peak

Wednesday, May 7, 2025 / No Comments

 

BTC coin  illustration

Bitcoin (BTC) investors are realizing approximately $1 billion in profits per day, raising concerns among analysts that the current bull market may be entering its final phase.

According to a new report from on-chain analytics platform CryptoQuant, the recent surge in profit-taking activity mirrors patterns observed in past market cycles just before significant corrections.

BTC/USD climbed to nearly $98,000 earlier this week, marking its highest price level since late 2024. The rally has triggered a wave of profit realization, with traders capitalizing on gains after BTC’s recovery from the March April dip.

“Profit-taking remains aggressive,” said CryptoQuant contributor Kripto Mevsimi. “It’s not as intense as during the November-December 2024 highs, but it still indicates late-stage bull market behavior.”

Historical Parallels

CryptoQuant notes that the 7-day moving average of realized profits is now close to $1 billion  a level last seen in January. This figure, analysts say, closely resembles conditions seen in 2021 and late 2024, when elevated profit-taking was followed by local market tops or sharp downturns.

“In previous cycles, sustained high realized profits often preceded corrections,” the report stated.

Institutional Entry Fails to Shift Investor Mindset

Despite the influx of institutional capital via U.S. spot Bitcoin ETFs  including consistent inflows into BlackRock’s iShares Bitcoin Trust (IBIT) analysts say retail-style market behavior persists.

“The introduction of ETFs has reshaped market structure, but not investor psychology,” Mevsimi added.

Outlook Cautious

While Bitcoin continues to hover near all-time highs, CryptoQuant warns that the balance between bullish momentum and widespread profit-taking could tilt rapidly. The firm advises investors to monitor realized profit trends closely for signs of a potential reversal.

Florida Drops Bitcoin Reserve Bills Amid Legislative Session Wrap-Up

Tuesday, May 6, 2025 / No Comments

 

BTC illustration

Two bills that could have positioned Florida among the pioneering U.S. states investing in Bitcoin have been officially shelved. House Bill 487 and Senate Bill 550, both introduced earlier this year to create a state-run strategic Bitcoin reserve, were "indefinitely postponed and withdrawn from consideration," according to a Florida Senate update on May 3.

The state’s legislative session closed on May 2 without approving the crypto bills, despite lawmakers extending proceedings until June 6 to finalize budget discussions. While the session saw the passage of more than 200 laws ranging from environmental protection to digital restrictions in schools, crypto treasury diversification did not make the cut.

HB 487 and SB 550 sought to authorize Florida’s chief financial officer and the State Board of Administration to allocate up to 10% of certain state funds into Bitcoin (BTC). With their dismissal, Florida joins a growing list of states including Wyoming, Montana, Pennsylvania and Oklahoma where similar crypto reserve proposals have failed to gain traction.

The withdrawal comes shortly after Arizona’s own Bitcoin reserve push stumbled, with Governor Katie Hobbs vetoing House Bill 1025, citing concerns about the risks of investing in digital assets. Still, Arizona’s legislative push isn't over. Two additional bills, HB 2749 and SB 1373, remain under consideration and could revive the effort.

Crypto advocates, including Satoshi Action Fund founder Dennis Porter, are closely watching Arizona’s next moves. "Arizona has two more chances to be the first in the nation to establish a Bitcoin reserve," Porter noted, pointing to HB 2749’s budget-neutral framework using profits from the state’s unclaimed property fund.

The broader national effort to introduce Bitcoin into state treasuries remains largely symbolic at this stage, with no legislation yet signed into law. However, the debate reflects growing political interest in Bitcoin’s role as a hedge and a long-term strategic asset, even as some lawmakers remain cautious about its volatility.

U.S. Bitcoin ETFs Buy 6x More BTC Than Miners Produced Last Week

Monday, May 5, 2025 / No Comments

 

BTC coin illustration

U.S. spot Bitcoin exchange-traded funds (ETFs) accumulated nearly six times more Bitcoin than was produced by miners over the past week, highlighting growing institutional demand for the asset.

According to data shared by asset allocator HODL15Capital, U.S.-based Bitcoin ETFs purchased 18,644 BTC between April 28 and May 3, while only 3,150 BTC were mined during the same period. With miners currently producing around 450 BTC per day, ETF demand continues to significantly outpace supply.

The surge in buying activity coincides with a broader market recovery. Bitcoin briefly touched a six-week high of $97,700 on May 2 before pulling back to around $94,000, where it traded at the start of the week.

Despite a brief net outflow on April 30, total ETF inflows for the week reached approximately $1.8 billion, according to Farside Investors. Since April 16, the majority of trading days have seen positive inflows into Bitcoin ETFs.

BlackRock’s iShares Bitcoin Trust (IBIT) led the charge, posting $2.5 billion in inflows over the five-day span and extending its streak to 17 consecutive days without outflows. The spot Bitcoin ETF category has now grown to nearly $110 billion in assets under management.

ETF Store president Nate Geraci noted that many U.S. wealth management platforms still restrict access to Bitcoin ETFs, limiting their distribution potential. “Spot Bitcoin ETFs are operating with one hand tied behind their backs,” Geraci said. “Imagine what might happen as these restrictions are lifted.”

Meanwhile, the crypto ETF landscape continues to evolve. The U.S. Securities and Exchange Commission is due to make a second deadline decision on Canary Capital’s spot Litecoin ETF filing by May 5. The firm also submitted a similar application for a spot XRP ETF in October 2024.

Bloomberg ETF analysts suggest that while approval is possible, a delay is more likely. Over 70 U.S. crypto ETF applications are currently awaiting regulatory decisions this year.

Bitcoin Rockets to $94K as $635M in Shorts Get Liquidated -Is $100K Next?

Wednesday, April 23, 2025 / No Comments

 

BTC coin illustrationCryptocurrency markets experienced a dramatic surge in volatility over the past 24 hours, with total liquidations surpassing $635 million. The majority of these losses over $560 million came from traders holding short positions, underscoring increasing pressure on bearish sentiment.

Leading the charge was Bitcoin (BTC), which soared past $94,000 to mark a 6.3% daily gain. According to data from CoinGlass, nearly $293 million in BTC short positions were wiped out during the rally. Ether (ETH) followed suit, climbing nearly 10% to trade around $1,787, triggering over $109 million in short liquidations.

Binance saw the highest liquidation volume among exchanges, accounting for $18.7 million in the last four hours alone 78% of which stemmed from short positions. Bybit and OKX also reported elevated liquidation activity, signaling broad-based volatility across crypto trading platforms.

Analysts Point to Short Squeeze Potential

Market watchers are increasingly pointing to a potential short squeeze, a phenomenon where a rapid price spike forces short-sellers to close their positions, further propelling prices upward. Crypto analyst Mister Crypto noted that significant liquidity is “building up around the $100,000 level,” suggesting the market could be poised for another breakout.

Sharing a Binance BTC/USDT Liquidation Heatmap, the analyst highlighted mounting liquidation orders near the $100K mark an indication that many traders may be forced to buy back into the market if prices continue to climb.

Bitcoin Hits 45-Day High

Bitcoin touched a 45-day high of $94,236 on Tuesday, buoyed by bullish sentiment and ongoing institutional interest. The rally has rekindled speculation around a possible six-figure price target, though opinions remain divided.

Skepticism Remains Over $100K Target

Not all experts are convinced that a $100,000 BTC is imminent. Vincent Liu, Chief Investment Officer at Kronos Research, cautioned that broader macroeconomic developments will heavily influence the asset’s trajectory.

“Bitcoin’s climb to $94K reflects renewed global optimism, but its path to $100K remains uncertain,” Liu told Cointelegraph. He pointed to the upcoming Federal Reserve’s FOMC meeting on May 6, ongoing trade discussions with India and China, and potential shifts in U.S. monetary policy as key variables.

“Any easing in tariffs or a dovish Fed could fuel further gains, while hawkish moves or geopolitical uncertainty may stall momentum,” Liu added.

Bitcoin May Surpass $100K as U.S. Dollar Declines, Says Arthur Hayes

Monday, April 21, 2025 / No Comments

 

btc reachs 100K illustrationBitcoin's next parabolic move may be on the horizon as market conditions align with major macroeconomic shifts. According to BitMEX co-founder and Maelstrom CIO Arthur Hayes, incoming U.S. Treasury buybacks and continued U.S. dollar weakness could send Bitcoin soaring past $100,000.

Seriously fam, this might be the last chance you have to buy BTC under $100K,” Hayes wrote, referring to the Treasury’s planned bond buybacks as a potential “bazooka” for Bitcoin.

Treasury buybacks where the government repurchases its own debt are typically used to boost liquidity, manage interest rates, or reduce outstanding obligations. In doing so, they can inject capital into financial markets, often driving up demand for risk assets like Bitcoin.

Money Supply Growth Could Push BTC to $132K

Hayes isn't alone in his bullish stance. Jamie Coutts, Real Vision's chief crypto analyst, projects Bitcoin could top $132,000 by year’s end, citing M2 money supply expansion as a major tailwind.

Still, not all signals are green. Some analysts warn that global trade tensions, particularly between the U.S. and China, could weigh on investor sentiment.

Dollar Drops, Bitcoin Breaks Out

Bitcoin recently surged past $87,700 its highest level in nearly three weeks as the U.S. Dollar Index hit its lowest point since March 2022. The move followed former President Donald Trump’s announcement of new tariffs on Chinese goods.

“Bitcoin is clearly responding to dollar weakness,” said Bitwise’s André Dragosch.

Bitget Research’s Ryan Lee also sees room for upside: “We’re seeing strong volume, a breakout from a descending wedge, and a macro backdrop that favors Bitcoin as a hedge including rising gold correlation and institutional interest.”

Institutional Momentum Builds

Despite short-term volatility, institutional players continue to accumulate. Firms based in Japan and the UK have poured hundreds of millions into BTC in recent weeks, suggesting confidence in Bitcoin’s long-term role as a financial hedge.


Here’s what happened in crypto today

Wednesday, April 16, 2025 / No Comments

 

crypto coins illustrationToday in crypto, a new report from Coinbase outlines a shrinking crypto market but predicts a potential rebound in late 2025. Meanwhile, Strive Asset Management is urging Intuit to buy Bitcoin after convincing GameStop to add it to their balance sheet, and Ethena Labs is withdrawing from the German market following regulatory concerns over its USDe stablecoin.

Crypto in a bear market, rebound likely in Q3

Coinbase’s April 15 monthly outlook for institutional investors paints a bleak picture of the current crypto landscape. The altcoin market capitalization has dropped 41% since its December 2024 peak of $1.6 trillion, sitting at $950 billion by mid-April. According to BTC Tools, the lowest point reached was $906.9 billion on April 9, with a slight recovery to $976.9 billion at press time. The report also highlights a significant decline in venture capital investment, which has dropped by 50% to 60% from the 2021 to 2022 period. David Duong, Coinbase’s global head of research, warned that the market may be entering a new "crypto winter" due to negative sentiment triggered by global tariffs and economic uncertainty. Duong referenced key indicators like the 200-day moving average and Bitcoin’s Z-score, an analytic tool used to assess overbought or oversold market conditions, to suggest that the most recent bull market ended in February. Coinbase’s model now categorizes the market as neutral but anticipates possible recovery in Q3.

Strive urges Intuit to buy Bitcoin after converting GameStop

Strive Asset Management’s CEO Matt Cole is pushing Intuit, the financial software firm behind TurboTax and QuickBooks, to add Bitcoin to its treasury. In an open letter dated April 14, Cole warned that AI could disrupt Intuit’s core business, especially tax preparation. He pitched Bitcoin as a strategic hedge, citing it as the “best option available” for building a financial buffer amid AI-driven changes. Cole emphasized that a Bitcoin “war chest” would allow Intuit to maintain its position of strength and adaptability. The letter mirrors one Cole sent to GameStop CEO Ryan Cohen in February, which led to the company raising $1.5 billion, partly allocated for Bitcoin purchases.

Ethena Labs exits German market following agreement with BaFin

Ethena Labs, the developer behind the synthetic USDe stablecoin, is shutting down its German operations following regulatory intervention. On April 15, the company announced an agreement with Germany’s Federal Financial Supervisory Authority (BaFin) to cease all local activities through its subsidiary, Ethena GmbH. This move follows BaFin’s March 21 order halting the minting and redemption of USDe due to identified compliance deficiencies and potential securities violations. Ethena confirmed that it had not conducted any minting or redemption since BaFin’s action and will no longer pursue MiCAR (Markets in Crypto-Assets Regulation) authorization in Germany. This marks a broader trend of increasing regulatory scrutiny on stablecoins and crypto operations across Europe.

Mechanism Capital’s Andrew Kang Doubles Down on Bitcoin With $200M Long Position

Monday, April 14, 2025 / No Comments

 

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Andrew Kang, founder of crypto investment firm Mechanism Capital, has significantly increased his bullish bet on Bitcoin, doubling his previous position with an additional $100 million long. The move brings his total leveraged position to $200 million, according to on-chain data from blockchain intelligence platform Arkham.

"Andrew Kang just doubled his Bitcoin position," Arkham stated in an April 12 post on X (formerly Twitter), pointing to wallet activity linked to Kang. The firm reported that the added $100 million position carries a potential profit or loss margin of approximately $6.8 million.

This aggressive market stance follows Kang’s initial $100 million long placed on April 9 coinciding with a post by former U.S. President Donald Trump on Truth Social that read, “THIS IS A GREAT TIME TO BUY!!! DJT.” Shortly afterward, the Trump administration announced a 90-day pause on newly implemented tariffs, a decision that sparked a rally across both crypto and equity markets.

Kang commented on April 12, attributing Bitcoin’s potential trend reversal to what he termed “trade war capitulation” and a “Trump put” the notion that Trump will take measures to boost the stock market. He suggested these developments create ideal conditions for Bitcoin to rebound from its multi-month downtrend.

Meanwhile, political tensions have escalated. Senate Democrats have urged the U.S. Securities and Exchange Commission to investigate Trump and his affiliates for potential insider trading and market manipulation related to the timing of his social media post and the tariff pause announcement.

In the midst of the volatility, Bitcoin has seen sharp price swings. Over the past 24 hours, the cryptocurrency fell to a low of $83,197 before recovering to trade near $85,000, according to CoinGecko. Confusion around U.S.-China tariff policy has added to the market’s uncertainty. Trump later clarified that there was no tariff “exception,” but that certain electronics were reclassified under a 20% tariff rate.

With macroeconomic factors, political headlines, and high-leverage trades converging, Bitcoin markets remain on edge. Investors will be closely watching both the regulatory response and further moves by high-profile traders like Kang.