The Federal Reserve’s upcoming decision on interest rates is poised to significantly influence Bitcoin’s price trajectory, with potential for a surprising rate cut to propel the cryptocurrency to new heights.
The fraud prevention firm ThreatFabric says an alarming new banking malware is evolving to more effectively avoid detection and steal personal data. Security researchers at ThreatFabric say Crocodilus, a new and sophisticated strain of malware that targets mobile banking apps and crypto wallets on Android phones. “Crocodilus enters the scene not as a simple clone, but as a fully-fledged threat from the outset, equipped with modern techniques such as remote control, black screen overlays, and advanced data harvesting via accessibility logging.” ThreatFabric says Crocodilus is emerging as a major threat since it first detected the malware in March. “Notably, its campaigns are no longer regionally confined; the malware has extended its reach to new geographical areas, underscoring its transition into a truly global threat.” One alarming evolution detected in Crocodilus is its ability to infiltrate the user’s contact list and add itself to it, bypassing fraud detection programs that flag callers not in a user’s contacts. “…Crocodilus demonstrates a level of maturity uncommon in newly discovered threats. Already observed targeting banks in Spain and Turkey and popular cryptocurrency wallets, Crocodilus is clearly engineered to go after high-value assets. The rise of new threats like Crocodilus shows that basic, signature-based detection methods are no longer enough—especially in the early stages when the malware first starts spreading. To stay protected, financial institutions should adopt a layered security approach that includes thorough device and behaviour-based risk analysis on their customers’ devices.” Follow us on X , Facebook and Telegram Don't Miss a Beat – Subscribe to get email alerts delivered directly to your inbox Check Price Action Surf The Daily Hodl Mix Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any losses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing. Generated Image: Midjourney The post Hackers Target Android Users’ Bank Accounts As New Malware Becomes ‘Global Threat’: Report appeared first on The Daily Hodl .
According to Onchain Lens data reported by COINOTAG News on June 6th, a significant whale transaction involved the acquisition of 700 ETH, equivalent to approximately 1.72 million USD, to purchase
Key Takeaways: A Trump family-linked entity, World Liberty Financial (WLFI), has issued a cease-and-desist to block the launch of a Trump-branded crypto wallet by Fight Fight Fight LLC. The wallet, promoted in partnership with NFT marketplace Magic Eden, was announced without the approval of the Trump Organization or WLFI. Donald Trump Jr. and other family members have publicly disavowed the project and reaffirmed support for WLFI’s forthcoming official crypto product. Tensions are rising inside Donald Trump’s growing crypto orbit as a Trump family-backed organization moves to block a crypto wallet launch tied to the former president’s name. According to a Bloomberg report published Thursday, World Liberty Financial (WLFI), a company linked to the Trump family, has sent a cease-and-desist letter to Fight Fight Fight LLC. The letter challenges the firm’s plans to launch a Trump-branded crypto wallet in partnership with NFT marketplace Magic Eden. Fight Fight Fight is the same company that helped launch the $TRUMP memecoin earlier this year. The firm is led by Bill Zanker, a longtime friend and promoter of Donald Trump. Zanker’s company also owns the website GetTrumpMemes.com, which promotes the TRUMP token. Trump Family Disavows $TRUMP Wallet Project as Legal Battle Erupts Over Crypto Branding The cease-and-desist comes after Fight Fight Fight and Magic Eden opened a waitlist for the Trump-branded wallet earlier this week. The project appeared to move forward without involvement from the Trump Organization or approval from WLFI. BREAKING NEWS: BLOOMBERG REPORTS TRUMP FAMILY-BACKED @WORLDLIBERTYFI SENT CEASE-AND-DESIST TO “FIGHT FIGHT FIGHT” TEAM BEHIND $TRUMP MEMECOIN Letter targets plan to launch “$TRUMP Wallet” with @MagicEden ; both named in the notice Source: @Bloomberg https://t.co/YtYKV2DVBX pic.twitter.com/oixIC3FrTz — Mario Nawfal’s Roundtable (@RoundtableSpace) June 5, 2025 Donald Trump Jr., who serves as a Web3 ambassador for WLFI, addressed the issue on social media on June 3. “The Trump Organization has zero involvement with this wallet,” he said, adding that WLFI is planning its own official launch “soon.” Magic Eden confirmed its collaboration with Fight Fight Fight and had verified the @TrumpWalletApp account on X. That account has since been deleted. A cease-and-desist was also sent to Magic Eden , according to the Bloomberg report. Magic Eden’s Trump wallet launch sparks backlash as the Trump family denies ties and warns against unauthorized branding. #TrumpWallet #MagicEden https://t.co/aYRjHDwUzB — Cryptonews.com (@cryptonews) June 4, 2025 Other members of the Trump family, including Eric and Barron Trump, also posted messages distancing themselves from the wallet project and reaffirming support for WLFI’s version. The dispute indicates deepening divisions within Trump’s expanding digital asset efforts. While WLFI is directly linked to the Trump family, Fight Fight Fight maintains control of the memecoin that bears his name. Despite the pushback, the TRUMP token has seen massive financial success. According to Chainalysis, the project has generated over $300 million in fees for its owners. Fight Fight Fight reportedly shares 80% of the token’s supply with CIC Digital LLC, another Trump-affiliated group. Zanker’s company takes its name from Trump’s “Fight, fight, fight” slogan, coined after his first assassination attempt. But now, it finds itself at odds with Trump’s own inner circle. The cease-and-desist letters add legal weight to an increasingly public split over who controls the Trump brand in crypto and how far each side is willing to go to claim it. $TRUMP Token Tanks $130M as Cease-and-Desist Sparks Market Chaos Minutes after the World Liberty Foundation issued a cease-and-desist to the creators of the Trump Wallet, the meme coin $TRUMP lost over $130 million in market cap. The token dropped 11% in 24 hours and is now trading at $9.61, with a total market cap of $1.92 billion, according to Coingecko. Trading volume, however, surged 129% to over $713 million, reflecting a sudden spike in activity following the news. JUST IN: Donald Trump's memecoin $TRUMP lost $130M in market cap in 5 minutes after receiving a cease and desist letter from @worldlibertyfi https://t.co/fVVtH63qnC pic.twitter.com/nBdKaM1rbG — BlockNews (@blocknewsdotcom) June 5, 2025 The Trump Wallet’s website claims the project is the “Official $TRUMP Wallet by President Trump,” and lists Magic Eden and GetTrumpMemes.com as launch partners. GetTrumpMemes.com is owned by Fight Fight Fight LLCa company linked to CIC Digital LLC, an entity affiliated with the Trump Organization. Together, the two firms reportedly hold a majority of the $TRUMP supply. Bill Zanker, who helped launch the TRUMP memecoin and several Trump-branded NFT collections, is listed in documents for Fight Fight Fight LLC and also holds a large stake in TRUMP tokens through CIC Digital. He’s currently working on a crypto-themed, Monopoly-style game. This isn’t the first time Trump-linked crypto ventures have stirred confusion. Last year, Trump Media and Technology Group initially denied reports it was raising capital to buy Bitcoin, only to later confirm a $2.5 billion raise for that exact purpose. https://twitter.com/cryptonews/status/1928565037028851943?s=46 World Liberty Financial, which called Trump its “chief crypto advocate,” recently announced plans for a dollar-backed stablecoin, USD1 , with BitGo as custodian. The project lists Trump’s sons and youngest son Barron as platform ambassadors. The post Trump-Backed World Liberty Foundation Sends Cease-and-Desist Over $TRUMP Wallet Plans appeared first on Cryptonews .
BitcoinWorld CME CEO Questions Cryptocurrency Use Case, Champions Stablecoin Potential In the rapidly evolving landscape of digital assets, opinions from leaders in traditional finance carry significant weight. Terry Duffy, the influential CEO of the Chicago Mercantile Exchange (CME), recently shared his perspective, offering a cautious view on the broader cryptocurrency space while highlighting a specific area he believes holds substantial promise: stablecoins. CME CEO’s View on Cryptocurrency Use Case Terry Duffy, at the helm of one of the world’s largest derivatives marketplaces, is no stranger to innovation in financial markets. However, when it comes to the general utility of cryptocurrencies beyond speculation, Duffy expressed reservations in a recent interview reported by BlockBeats. He stated that the ultimate use case for crypto has not yet been definitively established or confirmed. This perspective from a major player in traditional finance is noteworthy. While many proponents champion cryptocurrencies like Bitcoin and Ethereum for various applications – from digital gold and decentralized finance (DeFi) to smart contracts and NFTs – Duffy’s comment suggests that from a traditional market infrastructure standpoint, a clear, widespread, and enduring practical application for many cryptocurrencies remains elusive or unproven on a large scale. What might contribute to this perceived lack of clarity regarding the ultimate Cryptocurrency Use Case ? Several factors could be at play: Volatility: The significant price swings inherent in many cryptocurrencies make them challenging for everyday transactions or as a stable store of value for many traditional businesses and consumers. Scalability Issues: Some blockchain networks face limitations in processing high volumes of transactions quickly and cheaply, hindering widespread adoption for payments. Regulatory Uncertainty: The lack of clear, consistent global regulations creates a hesitant environment for large institutions and businesses to fully commit to integrating cryptocurrencies. Complexity: For the average person, understanding and securely using cryptocurrencies can be complex compared to traditional financial systems. Identifying Stablecoin Potential While expressing caution about the general cryptocurrency landscape, Duffy drew a clear distinction when discussing stablecoins. Specifically, he pointed to U.S. dollar-pegged stablecoins as having significant Stablecoin Potential . Unlike volatile cryptocurrencies, stablecoins are designed to maintain a stable value, typically pegged to a fiat currency like the U.S. dollar, or sometimes to commodities or algorithms. Duffy believes these digital assets can play a crucial role in reducing friction within the existing financial system. What kind of friction are we talking about? Think about the inefficiencies, delays, and costs associated with traditional cross-border payments, interbank transfers, or even certain types of domestic transactions. Stablecoins, leveraging blockchain technology, offer the possibility of: Faster settlement times, potentially near-instantaneous. Lower transaction fees, especially for international transfers. Increased transparency on a distributed ledger. 24/7 availability, unlike traditional banking hours. This potential to streamline financial processes is where Duffy sees a clear and valuable application for digital assets, particularly those designed for price stability. Why Banks and Stablecoins Are a Natural Fit? Perhaps one of the most forward-looking comments from the CME CEO was his assertion that banks should possess the capability to issue stablecoins. This aligns with a growing trend where traditional financial institutions are exploring or developing their own digital currency initiatives, often referred to as institutional stablecoins or wholesale central bank digital currencies (CBDCs). The idea of Banks and Stablecoins coexisting or with banks issuing them directly makes sense from several perspectives: Leveraging Existing Infrastructure & Trust: Banks already have the infrastructure, regulatory compliance frameworks, and customer trust necessary to issue and manage financial instruments reliably. Efficiency Gains: Banks could use stablecoins for more efficient interbank settlements, clearing, and potentially even retail payments, reducing operational costs and risks associated with legacy systems. Staying Relevant: As the financial world explores tokenization and digital assets, issuing stablecoins allows banks to remain central players in the evolving Digital Assets Future rather than being bypassed by new entrants. Enhanced Services: Banks could offer new services built on stablecoin rails, such as programmable payments or instant payroll. While the concept is compelling, the path for banks to widely issue stablecoins involves navigating complex regulatory hurdles, technological integration challenges, and ensuring interoperability with existing financial systems. The Broader Implications for the Digital Assets Future Terry Duffy’s comments underscore a key debate within the financial world: the distinction between speculative digital assets and utility-focused digital currencies. His view, coming from a leader in traditional derivatives markets which have listed Bitcoin and Ether futures, suggests that while there’s institutional interest in providing exposure to crypto volatility, the focus for practical, systemic integration might lean towards stable, regulated digital currencies. The emphasis on Stablecoin Potential and the role of Banks and Stablecoins highlights a potential path for digital assets to become more deeply embedded in mainstream finance. This isn’t necessarily about replacing fiat currency but creating a more efficient digital layer on top of it, facilitated by trusted financial institutions. What Does This Mean for You? Whether you are an investor, a business owner, or simply interested in the future of money, these insights offer valuable perspective: For Investors: Understand the difference between volatile cryptocurrencies and stablecoins. Duffy’s comments suggest that the long-term value proposition for different types of digital assets might vary significantly, influenced by their practical application and regulatory treatment. For Businesses: Explore how stablecoins could potentially improve payment processing, supply chain finance, or treasury management efficiency in the future, especially as banks become more involved. For Policymakers & Regulators: Duffy’s call for banks to issue stablecoins implicitly advocates for a regulatory framework that allows and governs such activities, ensuring stability and consumer protection. Conclusion: A Pragmatic View on Digital Assets Terry Duffy’s perspective from the CME offers a pragmatic, institution-focused view on the digital asset space. While acknowledging that the ultimate, widespread Cryptocurrency Use Case for many digital assets remains under development or unclear from his vantage point, he clearly identifies significant Stablecoin Potential . His vision of Banks and Stablecoins working together, with banks issuing these digital currencies, points towards a future where regulated, stable digital assets play a crucial role in enhancing the efficiency of the existing financial system. This focus on practical application and integration within established frameworks provides a compelling insight into how traditional finance leaders view the evolving Digital Assets Future . To learn more about the latest crypto market trends, explore our article on key developments shaping digital assets future institutional adoption. This post CME CEO Questions Cryptocurrency Use Case, Champions Stablecoin Potential first appeared on BitcoinWorld and is written by Editorial Team
SUI, one of the leading altcoins of this cycle, has recorded an impressive price recovery over the past two months. However, as the cryptocurrency fails to hold some key levels, some analysts warn of a potential drop below the $3.00 support. Related Reading: Ethereum Eyes 15% Move Amid Key Resistance Retest – Breakout Or Rejection Next? SUI Rally Risks Massive Price Drop Since hitting its four-month high of $4.29, SUI’s price has been moving sideways, hovering between $3.40-$4.00 throughout most of May. Amid last week’s market retrace, the altcoin recorded a 14.2% price drop, losing its range and hitting the $3.00 support over the weekend. At the start of this week, SUI saw a mild recovery alongside the rest of the market, surging to the $3.20 area. Nonetheless, the cryptocurrency has failed to hold this level over the past 24 hours and dropped to the $3.10-$3.15 area on Thursday morning. Crypto analyst Carl Runefelt warned that the cryptocurrency’s rally could be in danger as it risks breaking down of a descending triangle pattern. Per the post, the altcoin has been trading within this formation for the past month, also displaying a potential Head & Shoulders setup forming inside of the triangle, and the pattern’s baseline sitting around the $3.10 support. To the analyst, “if it breaks out of this triangle to the downside, then the fall can be very hard,” forecasting a nearly 35% retrace toward the $2.00 mark. On the contrary, a breakout to the upside could propel SUI’s price toward the $4.20 resistance. Analyst Crypto Bullet recently highlighted a “humongous” rising wedge pattern in the cryptocurrency’s chart, which eyes the $8-$10 area as the next major target. According to the chart, SUI has been moving within this pattern since early 2024, hovering between the upper and lower boundaries for over a year. Notably, the cryptocurrency hit the support trendline one more time during the April low, bouncing from this level. Based on this, the analyst considers that the current dip could be “the last opportunity to add to your bags before SUI makes a new ATH.” Can It Repeat Its Late 2024 Playbook? Analyst Rekt Capital noted that SUI was positioned for a bullish Monthly Candle Close in May, aiming to replicate its late 2024 performance. Last year, the cryptocurrency retested the $3.39 level and turned it into support, which acted as a springboard toward its January 2025 all-time high (ATH) of $5.35. This time, May closed below this crucial level, failing to confirm it as support and losing the recent price range. SUI is now “showcasing very early signs of upside wicking into said level to turn it into new resistance.” The analyst warned that June could see the cryptocurrency reject from this level “if things don’t change over the course of this month.” SUI is currently located inside the $2.33-$3.39 price range and is trying to position itself for a reclaim of the Range High to facilitate a breakout. However, it has unsuccessfully attempted to surge to that level, which could send the price toward lower levels if it “continues to float here without covering additional ground.” Related Reading: Bitcoin To Face ‘One Last Speed Bump’ Before Rally To $140,000 – Analyst Therefore, SUI risks dropping 10% toward the $2.81 mid-range area, which acted as support and weak resistance earlier this year, and falling 30% to the $2.33 range low if the previous level doesn’t hold. “If SUI fails to show signs of reclaiming $3.39 as support (at least on the Daily timeframe via Daily Closes above $3.39), then sub-$3 regions could be on the cards,” the analyst concluded. As of this writing, SUI trades at $3.08, a 2.3% decline in the daily timeframe. Featured Image from Unsplash.com, Chart from TradingView.com
CMC Markets analyst Carlo Pruscino recently highlighted that the Federal Reserve is anticipated to maintain current interest rates this month. However, an unexpected rate reduction could potentially propel Bitcoin towards
The post Ross Ulbricht’s $31M Bitcoin Donation Linked to Alphabay appeared first on Coinpedia Fintech News Blockchain analytics firm Chainalysis reported that a crypto wallet linked to the defunct dark web marketplace Alphabay was behind a $31 million Bitcoin donation to Silk Road founder Ross Ulbricht. The 300 Bitcoin, donated earlier this month, likely came from a major Alphabay vendor with access to significant funds. Alphabay, active from 2014 to 2017, was a predecessor to Silk Road, showing continued ties within the dark web crypto ecosystem.
The post James Wynn: How A High-Risk Trader Lost His $100 Million Fortune appeared first on Coinpedia Fintech News James Wynn, a high-risk trader, has taken the crypto world by storm: from turning a few million dollars into a $100 million Bitcoin fortune in just a month, to losing it all in a single week. His wild ride in the world of perpetual contracts (perps) and his confessions about how he handled that success have left many stunned and curious. Let’s dive in and see what happened behind the scenes of James Wynn’s rollercoaster journey. From Meme Coins to Millions In a recent tweet post, James Wynn said that he wasn’t always trading big. Before diving into Bitcoin perps, he was better known for calling out meme coins, where he made headlines by calling out Pepe Coin when it was worth only $600,000. His bet on Pepe turned into a huge success story, earning him an impressive eight-figure profit. This early win gave him confidence and a reputation as a risk-taker in the crypto community. I started trading on perps in March, had never traded perps before, in-fact never really traded properly before, I’ve just traded meme coins. (Before I was known for calling pepe at 600k and making 8 figures). In one month I turned about $3m into $100m and then lost it all in… — James Wynn (@JamesWynnReal) June 6, 2025 In March, James took his trading game up a notch, shifting from meme coins to Bitcoin perpetuals. Surprisingly, in just one month, he turned a starting balance of around $3 million into a jaw-dropping $100 million . His success was widely visible thanks to blockchain tracking, and he quickly gathered hundreds of thousands of followers eager to watch his next move. When Hype Becomes a Trap As James Wynn’s fame grew, so did the pressure. He felt he had to prove himself after turning $3 million into $100 million. But instead of careful trading, he started gambling, trying to get back the money he lost. He didn’t see the huge numbers on the screen as real money anymore. On May 19, Wynn made a risky Bitcoin trade using 40x leverage, starting with 5,520 BTC. He later added more Bitcoin, ending up with over 9,300 BTC, worth over $1 billion. At one point, he was up by $10 million. But when the U.S. tariff news hit, prices dropped fast. Wynn lost $60 million in one day. Even though he still had $25 million from earlier, in just a week, all his $100 million gains were gone, lost on the HyperLiquid platform. Warning and a Wink Despite the pain of losing so much, Wynn hasn’t lost his sense of humor. He even joked about using his affiliate link for those still wanting to trade, but his story is a reminder of the risks and rewards that come with high-stakes trading.
The post Why is Crypto Market Crashing Today? appeared first on Coinpedia Fintech News The crypto market is crashing today as Elon Musk and President Donald Trump’s clash has taken a hard hit on the market. Tesla dropped 15%, Bitcoin keeps sliding, and altcoins are also dropping fast. The crypto market cap is down 4.8% in the last 24 hours and the U.S. stocks also dipped slightly amidst the chaos. Cryptocurrencies Take Big Hit Bitcoin was down over 4% to $100,500 earlier today, and is close to dropping below $100K for the first time in a month. It is currently trading at $102,995. Other coins like Solana and SUI took big hits, falling more than 7%. Ethereum dropped 7.25%, XRP was down 4.35%, and Solana lost 5.2%. However, they have slightly recovered at the time of writing. The TRUMP meme coin crashed 9.3% during the Musk-Trump fight. Crypto stocks like Coinbase also fell 4.6%, MicroStrategy dropped 2.4%, and miners like MARA, Riot, and Core Scientific also fell about 5%. $1 Billion in Crypto Liquidations Nearly $1 billion in crypto positions were liquidated in 24 hours, mostly from long bets. Bitcoin alone saw $341M in daily liquidations, while Spot Bitcoin ETFs saw $278M outflows as institutions pulled back. Data from Glassnode showed that many long-term Bitcoin holders started selling after BTC hit a record $111,970 in May, raising the chances of a short-term price drop. ETH futures also saw a 5.5% drop in open interest and $260M in long liquidations. The sudden sell-off shows investors are getting worried as bigger economic risks and U.S. politics shake the crypto market. Reports hint that the White House is even holding emergency talks to see how this might affect the economy. Politics Getting in the Way? With good news around rate cuts and rising institutional buys, politics is clouding the market mood. Bitcoin is hanging tough around $100K, but if long liquidations continue, it could drop to around $95,000–$98,000 before finding solid support. However, traders are confident that Bitcoin will hit $120,000 by the year-end. The strong corporate buying and low volatility have kept the optimism high, with a 69% chance on the Polymarket betting platform. Corporate investors now hold nearly 810,000 BTC worth $85 billion, almost double from last year. So, experts expect Bitcoin’s momentum to stay strong.