Bitcoin Struggles Below $105K: Market Assessment Bitcoin’s price has been languishing beneath the critical $105,000 threshold, with traders keenly awaiting fresh catalysts for potential movement. The current consolidation could hint
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BitcoinWorld DeFi Trends: Unlocking Astonishing Opportunities in Decentralized Finance Have you been keeping an eye on the rapid evolution of finance? If so, you’ve likely encountered the term DeFi, or Decentralized Finance. It’s not just a buzzword; it’s a revolutionary movement reshaping how we think about money, banking, and financial services. Understanding the latest DeFi trends is crucial for anyone navigating the crypto landscape today. DeFi leverages blockchain technology, primarily Ethereum, to create open, permissionless, and transparent financial protocols. Instead of relying on traditional intermediaries like banks, DeFi allows users to interact directly through smart contracts. This opens up a world of possibilities, from borrowing and lending to trading and earning yield, all without a central authority. What Exactly is Decentralized Finance and Why Does it Matter? At its core, Decentralized Finance aims to replicate traditional financial services in a decentralized manner. Think of it as taking services like savings accounts, loans, insurance, and trading platforms and rebuilding them on a blockchain. This approach offers several compelling advantages: Accessibility: Anyone with an internet connection and a crypto wallet can participate, regardless of location or socioeconomic status. Transparency: Transactions are recorded on a public ledger, making them auditable and transparent. Security: Powered by robust blockchain cryptography. Innovation: The open nature allows for rapid development of new financial products and services. Why does it matter? Because it promises to create a more inclusive, efficient, and resilient global financial system. While still nascent, DeFi is growing at an incredible pace, attracting billions in value and countless users. Exploring the World of Crypto Lending One of the foundational pillars of DeFi is crypto lending . This allows users to lend out their digital assets to earn interest or borrow assets by providing collateral. Unlike traditional banking, where you need to pass credit checks, DeFi lending platforms typically require over-collateralization. How does it work? A user deposits cryptocurrency (e.g., ETH, USDC) into a lending protocol’s liquidity pool. Borrowers can then take out a loan from this pool, typically needing to deposit more value in collateral than the value of the loan (e.g., deposit $150 in ETH to borrow $100 in USDC). Lenders earn interest from the fees paid by borrowers. If the value of the borrower’s collateral falls below a certain threshold relative to the loan value, the collateral is liquidated to repay the loan and protect lenders. Popular platforms like Aave and Compound have become synonymous with crypto lending, enabling a global market for borrowing and lending digital assets around the clock. Diving into Yield Farming Strategies If crypto lending is like earning interest on a savings account, then yield farming is like maximizing returns through various investment strategies within DeFi. It’s a more advanced practice where users deposit crypto into liquidity pools or lending protocols and earn rewards, often in the form of additional tokens. Yield farmers seek to maximize returns by moving assets between different protocols to chase the highest yields. These yields can come from transaction fees, lending interest, or newly minted governance tokens distributed as incentives. Key concepts in yield farming include: Liquidity Providing: Depositing two different tokens into a Decentralized Exchange (DEX) pool to facilitate trading and earn a share of transaction fees. Staking: Locking up tokens to support a network’s operations (like in Proof-of-Stake blockchains) or within a protocol to earn rewards. Automated Market Makers (AMMs): Protocols like Uniswap or Curve that use algorithms to determine asset prices based on the ratio of tokens in a liquidity pool. While potentially lucrative, yield farming involves significant risks, including smart contract bugs, impermanent loss (in liquidity providing), and volatile token prices. It requires careful research and understanding. Innovative DeFi Protocols and Their Impact The DeFi ecosystem is a hotbed of innovation, constantly giving rise to new DeFi protocols pushing the boundaries of what’s possible. Beyond lending and trading, these protocols are venturing into areas like decentralized insurance, asset management, derivatives, and even prediction markets. Consider these examples: Decentralized Exchanges (DEXs): Platforms like Uniswap and SushiSwap allow peer-to-peer trading directly from your wallet, eliminating the need for a centralized exchange. Decentralized Autonomous Organizations (DAOs): Many DeFi protocols are governed by DAOs, allowing token holders to vote on proposals and steer the future development of the protocol. This embodies the decentralized spirit. Synthetics and Derivatives: Protocols like Synthetix allow users to create and trade synthetic assets that track the value of real-world assets (like stocks or commodities) or cryptocurrencies, all on-chain. Insurance Protocols: Projects like Nexus Mutual offer decentralized coverage against smart contract risks. These protocols are not just rebuilding existing finance; they are creating entirely new financial primitives and markets that were previously impossible in the traditional system. This continuous innovation is a defining characteristic of DeFi trends. Learn more about how these innovative protocols are changing finance. Navigating the Challenges and Risks in Decentralized Finance While the opportunities in Decentralized Finance are immense, it’s crucial to approach the space with caution. The rapid growth also comes with significant challenges and risks that users must be aware of. Key risks include: Smart Contract Risk: Bugs or vulnerabilities in the code of smart contracts can lead to loss of funds. While audits help, they don’t guarantee security. Impermanent Loss: A risk faced by liquidity providers in AMM pools, where the value of deposited tokens can decrease relative to simply holding them due to price fluctuations. Liquidation Risk: In lending protocols, if the value of your collateral drops significantly, it can be automatically sold to cover the loan, potentially resulting in losses. Regulatory Uncertainty: The lack of clear regulations globally poses a risk, as new rules could impact the operation or accessibility of certain protocols. User Error: Managing private keys and interacting directly with protocols requires technical understanding; mistakes can be costly. Understanding these risks is the first step towards mitigating them. Always do your own research (DYOR) before interacting with any DeFi protocol. Actionable Insights for Engaging with DeFi Trends Ready to explore the world of DeFi trends ? Here are some actionable insights to get you started safely and effectively: Start Small: Don’t invest more than you can afford to lose. Begin with small amounts to understand how protocols work. Educate Yourself: Read documentation, watch tutorials, and understand the specific risks of each protocol you interact with. Use Reputable Protocols: Stick to well-established protocols with proven track records and successful audits, especially when starting. Understand Gas Fees: Transactions on blockchains like Ethereum require gas fees, which can be high during peak times. Factor this into your strategy. Secure Your Wallet: Use a hardware wallet for significant amounts and be vigilant against phishing attempts. Monitor Your Positions: Keep an eye on your lending positions to avoid liquidation and your yield farming strategies to manage impermanent loss. Engaging with DeFi requires a proactive approach to learning and risk management. But with careful planning, it can offer exciting new ways to participate in the financial ecosystem. The Future of DeFi Protocols: What’s Next? Looking ahead, the evolution of DeFi protocols is expected to continue at a rapid pace. Several key areas are likely to see significant development: Scalability Solutions: Layer 2 solutions are becoming increasingly important to reduce transaction costs and increase speed, making DeFi more accessible. Interoperability: Connecting DeFi protocols across different blockchains will create a more unified and liquid ecosystem. Real-World Assets (RWAs): Bringing traditional assets like real estate, stocks, and commodities onto the blockchain could unlock massive new markets for DeFi. Improved User Experience: As the technology matures, interfaces will become more user-friendly, lowering the barrier to entry for mainstream users. Decentralized Identity and Reputation: Developing on-chain identity systems could allow for under-collateralized lending and more sophisticated financial products. The journey of Decentralized Finance is far from over. It represents a fundamental shift that could redefine finance for generations to come. Concluding Thoughts: Embracing the Decentralized Future The latest DeFi trends paint a picture of a dynamic, innovative, and rapidly expanding financial frontier. From the accessibility of crypto lending to the complex strategies of yield farming and the continuous emergence of novel DeFi protocols , the ecosystem offers compelling opportunities for those willing to learn and engage. While challenges like smart contract risk and regulatory uncertainty remain, the potential for creating a more open, transparent, and efficient global financial system is immense. By understanding the core principles, staying informed about developments, and practicing diligent risk management, you can confidently explore and participate in the exciting world of Decentralized Finance. The future of finance is being built, and DeFi is at the forefront. To learn more about the latest DeFi trends, explore our article on key developments shaping Decentralized Finance future oriented activity. This post DeFi Trends: Unlocking Astonishing Opportunities in Decentralized Finance first appeared on BitcoinWorld and is written by Editorial Team
Key takeaways: Bitcoin price consolidates as resistance at $105,000 prevents rally to new all-time highs. Traders are slightly bearish, but historical data suggests that a sudden bullish move should not be ruled out. Bitcoin ( BTC ) price has been consolidating within a roughly $3,500 range over the past seven days as the $105,000 level remains the overhead resistance to break. BTC/USD weekly chart. Cointelegraph/ TradingView Bitcoin unable to crack $105,000 Data from Cointelegraph Markets Pro and Bitstamp shows that BTC's price has been oscillating between its resistance level at $105,000 and $101,500, where it has found support. “$BTC is stuck in a narrowing $101.5K–$104K range,” said Swissblock in a May 16 post on X. The onchain data provider said that Bitcoin began consolidating after two failed attempts to break above the resistance at $105,000. “With the weekend ahead, resolution will likely be delayed, unless we get a Friday break.” BTC/USD chart. Source: Swissblock For market intelligence firm Santiment, failure to grow past the $105,00 level has seen traders flip slightly bearish again. “Markets generally tend to move opposite to the crowd's expectations, suggesting there is a heightened probability of crypto markets rising due to this increased fear,” the firm explained in an X post, adding: “Retail traders are beginning to show impatience, which historically is a bullish sign for prices.” Bitcoin social volume. Source: Santiment BTC price lacks “serious catalyst” Bitcoin has managed to sustain $100,000 as support for over a week while hitting 14-week highs of $105,700 on May 12. Despite following broad volatility across risk assets, BTC/USD may have gone even higher were it not for maneuvers of large-volume trading entities on exchange order books, according to trading resource Material Indicators. Related: Bitcoin hitting $220K 'reasonable' in 2025, says gold-based forecast Looking at the Binance exchange, Material Indicators argued that large blocks of ask liquidity were stacked above the spot price, pinning the BTC price in range. An accompanying chart shows that these liquidity clusters currently sit between $105,000 and $110,000. “Unless we have a serious catalyst, I’m not expecting to see a sustainable breakout to the all-time high territory until BTC has a legit support test at $100,000,” it summarized in a May 16 post on X. BTC/USDT order book liquidity data. Source: Material Indicators Material Indicators added that a key level to watch on the downside was the $98,000-$100,000 range. “With all of the above in mind, be prepared for a support test in the $98,000-$100,000 range, but beware of short squeezes and bull traps until that happens.” Bitcoin bulls fight to hold key support levels Meanwhile, popular trader Daan Crypto Trades said that the “start of the recent move” at $93,000 was essential for Bitcoin traders going forward. Bitcoin is trading “far away from any large liquidity clusters. The price didn't trade for a long time up here just yet. So, after the initial squeeze of shorts, there are not that many new positions built up around this area,” part of his own X post explained , adding: “The main level to look out for would be local highs above $106,000 and below all the way down to $93,00, which was the start of the recent move.” BTC/USDT liquidation heatmap. Source: Daan Crypto Trades Material Indicators meanwhile paid additional attention to the 50-day and 100-day simple moving averages (SMAs), key longer-term trendlines that formed a bullish cross, indicating a “strong upward momentum for the macro trend.” For MN Capital founder Michael van de Poppe, $98,000 is a “crucial area to hold on to” in order to ensure continuation upward. Source: Michael van de Poppe This article does not contain investment advice or recommendations. Every investment and trading move involves risk, and readers should conduct their own research when making a decision.
The post Dave Portnoy Now Backs XRP: “Meme Coins Won’t Last, It’s Gambling” appeared first on Coinpedia Fintech News When has Dave Portnoy been known to play it safe? And he doesn’t plan to start now. At Consensus 2025, the Barstool Sports founder cracked open the chaotic world of meme coins with Bullish CEO Tom Farley, offering a raw, unfiltered take on the highs, crashes, and sheer absurdity of crypto’s most “unhinged” corner. And true to form, Portnoy didn’t hold back. “I don’t think it’s here to stay,” he said about meme coins – despite being one of their loudest cheerleaders during peak mania. Why the U-turn? Let’s understand his stance. A Flurry of Chaos and Lawsuits Portnoy’s meme coin saga began, unsurprisingly, with FOMO. Hooked by viral claims of “9,000,000,000%” gains, he jumped into SafeMoon and made a video mocking its lack of fundamentals – only to get hit with a lawsuit. “They basically said SafeMoon paid me to promote them. Total lie. Cost me $20k to get out of the lawsuit.” Instead of backing off, he doubled down. Then,there was the wild $4.5 million bet on a token called Libra, supposedly backed by Argentina’s president. “I was at SNL with Lady Gaga. I was just typing. I’m like, what the hell is going on here?” he recalled. He lost everything – until, bizarrely, the dev returned the funds. “I’m one of the lucky ones.” The Greed Coin Experiments (Yes, There Was a Greed 2) Portnoy leaned into the absurdity. He launched Greed and Greed 2 , while others capitalized on the chaos with JailStool – a satire token born from public outrage. Portnoy embraced that one too. In one wild swing, he claims a $1,000 meme coin buy turned into $7 million in an hour. “It took me 13 years to make that kind of money at Barstool,” he said. But reality hits hard. In Vegas, an angry man confronted him for losing $200,000. That stuck. “It’s all fun and games behind the computer… but people are losing and making real money.” Why He’s Betting on XRP Now Dave Portnoy is leaning into XRP now. Speaking at Consensus 2025 , he admitted that his interest in the token has less to do with fundamentals and more with the thrill of catching a potential breakout asset. “I don’t know if there’s as much FOMO in Bitcoin now; it’s so established. But that’s why I’m in XRP. It’s FOMO,” he said. “It’s just $2.40. What if that’s the next Bitcoin?” Portnoy made it clear: he’s not making a technical argument for XRP. It’s the price point, underdog energy, and the possibility of repeating Bitcoin’s trajectory that pulled him in. According to him, XRP still feels like one of the few tokens left that can spark real retail hype – especially now that Bitcoin has crossed into the $2 trillion market cap. Meme Coins: Easy to Mock, Harder to Understand Meme coins might be the most hated – and misunderstood – corner of crypto. They get written off as scams, jokes, or hype-driven noise. Yes, there are plenty of rug pulls and zero-utility tokens floating around. But lumping all meme coins into that category misses the bigger picture. At the heart of it, meme coins are just a reflection of how financial markets actually work: speculation, hype, community, and a bit of chaos. They’re not pretending to be tech revolutions – and that’s kind of the point. Tokens like Dogecoin and Shiba Inu started off as jokes but have grown into full-blown ecosystems with massive followings and actual use cases. The harshest critics often overlook their own role in the dynamic. Many people jump into meme coins expecting life-changing gains overnight. When that doesn’t happen, the coin gets blamed instead of the lack of a real investment strategy. What does that say about market sentiment? Some food for thought.
The post Bitcoin Price Prediction As Crypto Fear and Greed Index Hits 69 appeared first on Coinpedia Fintech News The cryptocurrency market is seeing a slight dip today, with Bitcoin hovering around $103,922. According to on-chain analytics firm Santiment, Bitcoin recently faced strong resistance between the $104K and $105K levels. Whenever fear starts building up like this, people usually expect prices to drop — but interestingly, markets often do the opposite and bounce back. So, this could actually be a sign that another price push might be coming soon. At the same time, the Crypto Fear and Greed Index is sitting at 69, which means there’s a lot of greed in the market right now. While that kind of excitement can fuel rallies, it also means prices might be getting a bit too hot. It’s one of those moments where it’s smart to stay hopeful but cautious. Bitcoin has seen some resistance over the past week, being challenged to grow past the $104K to $105K level. This temporary "pumping of the brakes" has been enough to swing traders slightly bearish once again. Markets generally tend to move opposite to crowd's expectations,… pic.twitter.com/7toBDE5y6f — Santiment (@santimentfeed) May 15, 2025 Bitcoin is currently struggling to break past the $105,000 resistance level. If the conditions worsen, Bitcoin could further fall towards $100,000, delaying further gains. On the other hand, if it manages to breach the $105,000, it could set the stage for a rally towards $110,000, lifting the entire market and pushing for new all-time highs. However, analysts say the market is staying strong, even though spot Bitcoin ETF inflows have fallen from $3 billion in late April to $228 million this week. XRP Slips While Ethereum Holds Strong As for altcoins, XRP led the losses, down over 3% in the past day. Ethereum is holding steady above $2,500, showing bullish signs. Other altcoins like Binance Coin, Solana, Cardano, and Doge stayed relatively neutral. Tether (USDT) also stayed steady at $1. Analyst Michaël van de Poppe said that small corrections are happening in altcoins, but with gold showing a downtrend, he expects more gains soon. Unlike previous rallies driven by massive central bank money injections, analysts believe that this crypto rally is supported by a quiet boost from private bank credit growth in the US and Europe. This slow and steady support is helping push Bitcoin higher. It could continue rising due to a weaker USD, however, it could face challenges after July.
The crypto market in May 2025 is showcasing a new investment pattern: while meme coin titans like Dogecoin (DOGE) and TRUMP coin surge on media buzz and political exposure, a quieter shift is underway. A growing share of capital is being rotated into MAGACOINFINANCE, a new altcoin combining political branding with structured tokenomics—appealing to traders who want more than hype. CLICK HERE – FINAL CHANCE BEFORE PRICE JUMPS 35x DOGE and TRUMP: Momentum and Risk Collide Dogecoin is currently trading at $0.224 , bolstered by 9% daily growth and fresh institutional interest. The launch of Coinbase Dogecoin futures and the Grayscale Dogecoin Trust has revived retail enthusiasm. Elon Musk’s recent posts hinting at DOGE integration into X (formerly Twitter) payments continue to drive speculative volume. TRUMPCOIN, meanwhile, remains a political force. Riding on endorsements from Trump-affiliated platforms and announcements of strategic crypto partnerships, the token has seen significant inflows. However, concerns are mounting around regulatory scrutiny and centralized influence—especially as Trump’s camp pushes for a Bitcoin reserve tied to U.S. policy. MASSIVE DEMAND, LIMITED SUPPLY – ACT NOW MAGACOINFINANCE Gains Ground as a Strategic Alternative As speculation around DOGE and TRUMP rises, MAGACOINFINANCE is quietly building its base. Still in pre-listing , the project has raised over $8 million and recently entered Stage 7 of its presale. Analysts forecast a 25x to 35x upside , with a target listing price of $0.007 . The MAGA50X bonus code adds another 50% token allocation , making it a high-leverage entry. Unlike DOGE or TRUMP, which move on media cycles, MAGACOINFINANCE is drawing attention through: A capped supply and anti-whale tokenomics Community-first messaging rooted in American political identity Verified smart contract and third-party audit A growing base of over 50,000 wallet holders Market Behavior Reflects Investor Rotation On-chain data shows 14% monthly growth in MAGACOINFINANCE wallets . While DOGE and TRUMP remain volatile and dependent on public sentiment, MAGACOINFINANCE has shown steady daily transaction growth and liquidity increases across DEX listings. It’s attracting a class of buyers looking to front-run the next major rotation—before the CEX listings and media exposure hit. LIMITED TIME OFFER-GET 50% EXTRA BONUS WITH MAGA50X Conclusion: Three Tokens, Three Strategies DOGE is riding technical strength and cultural branding. TRUMP is leveraging political shock value. But MAGACOINFINANCE is building the case for long-term sustainability, blending narrative with structure. In a market driven by attention and alignment, it’s emerging as the “thinking investor’s meme coin.” To learn more about MAGACOINFINANCE , please visit Website: https://magacoinfinance.com Twitter/X: https://x.com/magacoinfinance Continue Reading: Why DOGE and TRUMP Investors Are Moving Capital Into MAGACOINFINANCE Before Its 2025 Push
SUI DEX volume hit $90.79B, with social sentiment and dominance rising sharply. Liquidation clusters above $3.7 and channel support hint at possible bullish continuation. Sui’s [SUI] decentralized exchange (DEX) activity has experienced significant growth, with total volume reaching $90.79 billion as of the 15th of May. This marked an 89.88% year-to-date increase in DEX trading volume. Notably, Cetus Protocol alone accounted for 58.83% of the total, positioning it as the dominant player in the ecosystem. This uptick reflected intensified on-chain participation, particularly on native platforms. At press time, SUI traded at $3.72 after a 5.36% daily drop, yet ecosystem usage continues to build. Retail buzz grows, but traders hesitate Social dominance for SUI has climbed to 1.24%, while Weighted Sentiment has risen to 2.30, according to Santiment data. These spikes suggest increasing interest and discussion surrounding SUI across social channels. Historically, such moves often precede or accompany speculative rallies, especially when aligned with network activity growth. Source: Santiment SUI’s derivatives metrics showed a notable cooldown. Derivatives volume dropped 19.65% to $3.57 billion, while Open Interest fell 12.18% to $1.61 billion. This decline signaled reduced trader participation and lower speculative positioning. In many cases, this reflects uncertainty or profit-taking following price volatility. Can flat Funding Rates ignite a squeeze? Binance’s liquidation map revealed a dense cluster of short liquidations between $3.75 and $4.00. SUI’s press time price at $3.709 sat just below this region, indicating that a modest upward push could trigger forced short closures. Cumulative short liquidation leverage exceeded 25 million USDT in this zone, exposing a vulnerability to sudden price spikes. Source: Coinglass Despite the price swings, Funding Rates remain muted. At the time of writing, the aggregated Funding Rate stood at 0.01%. This flat structure reflected a balanced market, with no extreme bullish or bearish bias among leveraged traders. Such neutral rates reduce the likelihood of sudden reversals triggered by over-leveraged positions. Is SUI gearing up for a breakout within its channel? SUI was trading inside a clear ascending channel at press time, with support near $3.53 and resistance around $4.58. The price recently touched $3.72, hovering near the middle of the channel. The 9 EMA sat at $3.95, while the 21 EMA tracked slightly higher at $3.98. Meanwhile, MACD lines showed weakening momentum, with the signal line at -0.0267 and MACD at -0.0385. While the structure remained intact, bulls must defend the mid-zone to maintain trend continuation. Source: TradingView SUI’s rising DEX usage, elevated social sentiment, and short-side liquidation potential create favorable conditions for bullish continuation. However, weakening derivatives activity and flat Funding Rates highlight a cautious mood among traders. Whether SUI breaks above $3.90 and reclaims upper channel levels will depend on renewed demand and sustained ecosystem engagement.
Summary eToro's IPO saw shares surge nearly 30% on the offering day, but I have significant concerns about the sustainability of its business model. The company is heavily reliant on volatile crypto revenues, which introduces principal risk and differentiates it unfavorably from traditional brokers. Despite strong user growth and a sizable cash position, earnings are highly volatile and limited relative to the current valuation. Given the risks, competition, and questionable earnings power, I am cautious and will not invest, despite the impressive debut. Shares of eToro Group ( ETOR ) have seen a strong public debut, as the online broker saw shares rise by nearly 30% to $67 per share on the first day of trading. While growth and excitement around crypto might drive these returns, I have real concerns about the business model after a look under the hood. While this might have to do with my own conservative thoughts, I am happy to pass on this opportunity. Trading Platform eToro has a vision to open global markets for everyone to trade and invest in both a simple and transparent way. The company was founded back in 2007 on the back of this idea, with markets at the time still dominated by traditional financial institutions which focused on investors with a substantial capital base. Besides simplicity, the company has been focuses on the power of technology, fostering a culture of sharing, innovation and adoption of cryptocurrencies in its offerings. With the passage of time, the company has grown to a base of 3.5 million funded accounts as of year-end 2024, with customers located across 75 countries. The company has been benefiting from the rise of popularity of (crypto) investing and the focus on younger age cohorts which appreciate the learning and collaboration services offered as well. These users have a total of $16.6 billion of assets under administration with average balances coming in at $47k, with typical trades averaging in the hundreds of dollars, both applying to equity trading and crypto trading. Valuation and IPO Thoughts eToro initially aimed to sell 10 million shares at a preliminary price range between $46 and $50 per share, with the share sale split evenly between shares offered by the company and those offered by selling shareholders. Strong demand made that the offer was priced at $52 per share, with the offering upsized to 12 million shares being sold. With nearly 83 million shares outstanding post the public offering, equity of the business was valued at $4.3 billion at the offer levels. Given the rise to $67 per share on the first day of trading, this market value has risen by over a billion to $5.6 billion. Pro forma cash and equivalents stand at $878 million with liabilities reported at $358 million, for a net cash position of roughly half a billion, implying that operating assets are valued at around $5 billion. If we look at the results, we see the complications in the business model. Total revenues were reported at $6.3 billion, $3.9 billion and $12.6 billion, respectively in the year 2022/2023 and 2024. The vast majority of these sales (typically around 90%, or more) has been derived from revenue from crypto assets, with the company reporting trading profits and losses on this category as well. On the bottom line, an operating loss of $215 million was reported in 2022, followed by a $28 million gain in 2023 and $245 million gain in 2024. While these are large numbers, they are tiny in relation to revenues, but moreover highly volatile and reliant on crypto. Moreover, it is not just reliance on crypto volumes, but also pricing risks, which differentiate eToro from other brokers (as the company also reports inventories on the balance sheet) which is not appealing in my view, to put it mildly. Looking at the preliminary first quarter results for 2025, the company sees the number of accounts rise to nearly 3.6 million, yet adjusted EBITDA for the quarter is seen down slightly from the first quarter of 2024, which was relatively strong in all fairness. In either case, results are very volatile and hard to read into, with volatility largely used by net revenues from crypto assets, complemented by more stable trading income from and equity and other asset classes, net interest income and currency conversion & other income. Concluding Thoughts I have real concerns and questions on the IPO of eToro and its business. Results, including sales and earnings, are very volatile and comprised largely out of net crypto revenues, which are not just very volatile but involve principal risk to the business as well (unlike the true definition of a broker). Given this, there are many risks, including volatility in prices and activity levels, stiff competition, real risks which not only include regular business risks, but also that of cybersecurity, theft, reputation risks, compliance, and others. With earnings power looking to be relatively limited in relation to the current valuation, and me having real concerns on the business and sustainability of the business model, I am erring cautious here. As a result, I refrain from investing, more driven by concerns on business (model) rather than the valuation (which looks high as well) although that my conservative thought could easily be proven wrong. After all, somewhat related and similar platforms like Robin Hood ( HOOD ) and Coinbase ( COIN ) have seen success as well. Given all this, I am erring on the cautious side, not having an interest in getting here, despite and inspire the very successful public debut made by the business.
The post WazirX News: Delhi Court Pushes CBI to Investigate $235M Crypto Hack appeared first on Coinpedia Fintech News A major crypto fraud linked to one of India’s biggest crypto exchanges, WazirX, is now drawing attention at the national level. The Delhi court suggested that the Central Bureau of Investigation (CBI) may need to take over the probe. The case, which involves a massive $235 million (worth ₹2,000 crore) cyber heist, has raised serious concerns about a possible international syndicate behind the attack. What’s the Case About? The case is tied to a massive hack that hit WazirX on July 18, 2024 , when nearly $235 million (roughly ₹2,000 crore) worth of cryptocurrency was stolen. WazirX, operated by Zanmai Labs Pvt. Ltd had quickly filed a complaint with the Delhi Police’s IFSO unit after discovering that their Multi-Signature Wallets, which store customer crypto funds, had been drained. Last year, Delhi Police arrested a man named SK Masud Alam from West Bengal for his role in a major hacking case. He was accused of using a fake name, “Souvik Mondal,” to attack a WazirX account. Court Hands Over The Case To CBI On May 1, Additional Sessions Judge Sumit Dass reviewed the bail application of SK Masud Alam, one of the key accused. Alam, who has been in jail for over eight months, has had previous bail pleas rejected. The judge expressed concern that the case may involve a wider criminal network, potentially with international links or even state support. He noted that the technical nature of the hack and the scale of the theft require deeper investigation, making it more suitable for a central agency like the CBI to take over. More Arrests and No Progress Yet During questioning, Alam reportedly confessed to connecting with someone named M. Hasan via Telegram, who offered him money in exchange for credentials to access WazirX accounts. His account had received crypto deposits worth over ₹91 lakh shortly after being created. 19 May Next Hearing Though the court hasn’t officially handed over the investigation, it has sent its order to the CBI Director for consideration. Meanwhile, the bail application for Alam will be heard again on May 19, when more clarity is expected on whether the central agency will take charge. If proven true, this case could become one of the most significant crypto-related frauds in India.