The bankrupt crypto exchange FTX has begun distributing more than $5.4 billion to creditors. The payouts represent the exchange’s second round of distributions after smaller creditors categorized in FTX’s “Convenience Class” started receiving repayments in February. Creditors in this round include “convenience class” members and larger claims. They will all receive funds via BitGo or Kraken within one to three business days from Friday, per a new press release . FTX will make payouts from its $11.4 billion cash reserves, and the exchange says subsequent distributions will be announced “in due course.” In October, a US bankruptcy court greenlit FTX’s plan to distribute between $14.7 billion and $16.5 billion worth of payouts to the crypto exchange’s former customers. The plan calls for 98% of the exchange’s creditors to receive approximately 119% of the value of their holdings on the day FTX filed for bankruptcy in November 2022. The increased payouts are thanks to crypto prices and FTX’s 8% stake in the AI (artificial intelligence) safety and research company Anthropic. FTX imploded and filed for bankruptcy amid accusations that its then-chief executive, Sam Bankman-Fried, mishandled the exchange’s funds by loaning out billions of dollars worth of customer deposits to Alameda Research, the firm’s trading arm. A US judge sentenced Bankman-Fried to 25 years in prison last year after he was convicted of fraud charges in 2023. 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. Featured Image: Shutterstock/graphicsbydeepak The post Bankrupt Crypto Exchange FTX Officially Kicks Off Second Round of Creditor Repayments With $5,400,000,000 Distribution appeared first on The Daily Hodl .
Bitcoin’s ( BTC ) ongoing sell-off may be nearing its end, with key technical indicators signaling a potential rebound after recent selling pressure. Notably, prominent trading expert Ali Martinez highlighted that the TD Sequential indicator is flashing a major buy signal on Bitcoin’s 12-hour chart. This setup suggests a possible move above $105,000, he said in an X post on May 31. Bitcoin price analysis chart. Source: TradingView The TD Sequential is a time-based indicator that identifies trend reversals or price exhaustion. When the system counts to “9,” it often signals that the current trend is weakening and that a reversal or correction may be imminent. Notably, Bitcoin has printed a bullish “9” candle, hinting that the recent downtrend could end and a short-term rally might be underway. If the signal plays out, Martinez believes Bitcoin could retest $105,000, a level that recently flipped from support to resistance. Bitcoin record high price target Supporting the bullish outlook, analyst Ted Pillow pointed out that the global M2 money supply, offset by 90 days, reliably forecasts Bitcoin price moves. His model predicted the May dip and now projects a sharp upward move, potentially pushing Bitcoin above $125,000 by late summer. Bitcoin price analysis chart. Source: Ted Pillows Will Bitcoin rally pause? While the long-term outlook remains bullish, on-chain data suggests a possible pause before further gains. According to analytics platform CryptoQuant, several demand indicators are nearing peak levels, resembling past market slowdowns. CryptoQuant indicated that Bitcoin demand has grown by approximately 229,000 BTC over the past 30 days, approaching the December 2024 peak of 279,000 BTC, an area that previously marked a local top. Additionally, Bitcoin balances held by whales have risen 2.8% in the past month. Historically, such accumulation often precedes a cooling period in large-holder activity. Bitcoin demand zone. Source: CryptoQuant These signs point to the possibility of a consolidation phase before the next significant move. Bitcoin price analysis As of press time, Bitcoin was trading at $104,680, down 0.75% in the last 24 hours and over 4% in the past seven days. Bitcoin seven-day price chart. Source: Finbold Nevertheless, Bitcoin remains above key support levels, trading above its 50-day ($98,083) and 200-day ($86,943) moving averages ( SMA ), indicative of continued bullish momentum. The 14-day relative strength index ( RSI ) stands at 50.28, suggesting neutral sentiment. Featured image via Shutterstock The post Bitcoin set to rebound as BTC flashes major ‘buy signal’ appeared first on Finbold .
SUI price rallies to $3.68 on ETF speculation, showing strong potential to break past $4.50 in June. Ripple remains stagnant despite legal win, as the SEC's silence adds pressure on market sentiment. XRP news sparks investor caution as legal uncertainty weighs on short-term price movement. Unilabs attracts $1.6M in early investment as its affordable, AI-driven crypto tools gain momentum. The SUI price has recaptured the confidence of market followers after a shaky start to last week. Ripple, on the other hand, is looking for a stagnant June, with the recent XRP news triggering bearish outlooks. Meanwhile, Unilabs is attracting crypto fans with its affordability, solid fundamentals, and potential for upside. Read on to find out what makes UNIL stand out in this current cycle. SUI Price Rebounds Amid ETF Hopes The SUI price has rallied over the past day after news emerged that Nasdaq has submitted an ETF proposal. If the SEC approves this proposal, SUI will join Bitcoin and Ethereum as the only assets with spot ETFs. Source: CoinCode At the time of writing, the SUI price is around $3.68 after rallying 4% in the past session. The recent surge in SUI price indicates that the network has regained customers after it was breached last week. Meanwhile, recent XRP news, which borders on legal concerns, has caused investors to be cautious of the asset. Right now, the sentiment is shifting in favor of better-performing assets like SUI and Unilabs. This could cause SUI to rally faster than Ripple, potentially reaching $4.50 by June. But with ICOs known to offer explosive upsides, Unilabs could surpass SUI as a low-cost gem in 2025. Its current fast-growing presale and low price of just $0.0051 give early adopters a chance for explosive gains, considering the rapid growth of the AI-themed crypto sector. XRP News Triggers Investor Caution as Watchers Awaits SEC Response While the SUI price initiated a recovery, crypto enthusiasts are still awaiting the outcome of the recent XRP news. After Judge Torres' latest ruling in favor of Ripple, the SEC has gone quiet on its next move.Unfortunately, this latest development has caused tension among Ripple holders. At the time of writing, XRP is facing resistance at $2.36, with support at $2.28. Source: CoinCodex Meanwhile, staked XRP assets in AMM pools have dropped significantly, a sign that XRP news has sparked cautious moves.Although Ripple offers fast transactions, its price trend hasn't hit $3, which has discouraged investors seeking short-term gains. This is where Unilabs steps in as a stable and cheaper alternative. Its AI-backed products and massive adoption position the project for more gains in this current cycle. Unilabs Emerges as an Affordable, AI-Driven Alternative Unilabs’ edge over established assets like Ripple is its affordability and potential for high returns. With the recent XRP news sparking unease, crypto investors are already swarming the UNIL token. At present, buyers have added over $1.6 million to the project by scooping up nearly 300M UNIL tokens. After all, the hedge fund is pioneering the next wave of AI-backed asset managers. With its AI Market Pulse tool, investors no longer have to manually scan the market for profitable opportunities. It generates an actionable overview by using artificial intelligence to monitor data points and onchain trends. The result? Precise insights for portfolio adjustment.Memecoin traders can also use the platform’s Memecoin Identification Tool to pounce on promising projects. The protocol reduces the risk of memecoin investment by ranking viable tokens based on liquidity, virality, and listing chances. Furthermore, crypto newbies do not require extensive technical knowledge to begin trading on the platform. Its AI-powered portfolio management feature optimizes an investor’s portfolio according to their goal and market conditions. Unilabs not only offers real-world applications, but it is also affordable. Given its market fundamentals, the project shows a trend that could surpass the SUI price action in June. Conclusion The SUI price has overcome the bearish storm to mount a price rally. But the recent wave of unfavorable XRP news has cast doubt over the potential of Ripple in the short term. For investors seeking gains, Unilabs offers a high return ceiling and real-world usage. At $0.005, investors can take part in this rare chance for explosive returns. Even better, buyers who use the “UNIL30” code upon checkout will get a 30% bonus on deposits.Discover the Unilabs (UNIL) presale: Presale: https://www.unilabs.finance/ Telegram: https://t.me/unilabsofficial/ Twitter: https://x.com/unilabsofficial/ Disclaimer: This is a sponsored article and is for informational purposes only. It does not reflect the views of Crypto Daily, nor is it intended to be used as legal, tax, investment, or financial advice.
Following recent enhancements in Ethereum, a new exploit is emerging as hackers utilize the EIP-7702 feature to drain wallets with stolen keys. This alarming trend underscores how cybercriminals are swiftly
BitcoinWorld US Japan Trade Deal: Trump Talks Signal Crucial Economic Shifts Recent comments from former U.S. President Donald Trump have put the spotlight back on international trade negotiations, specifically mentioning that Japan is keen on forging a new US Japan Trade Deal . This revelation, initially reported by Walter Bloomberg on X, signals potential shifts in the global economic landscape. While the cryptocurrency market often seems distinct from traditional trade agreements, these high-level discussions can have ripple effects that influence investor sentiment, capital flows, and overall market stability. Understanding the dynamics of these Trump Trade Talks is crucial for anyone navigating the complexities of today’s interconnected financial world, including the volatile realm of digital assets. Unpacking the US Japan Trade Deal Revelation The news that Japan is reportedly seeking a trade deal with the United States, as stated by Donald Trump, brings a significant economic relationship into focus. The U.S. and Japan are two of the world’s largest economies and key trading partners. A new comprehensive trade agreement could reshape various sectors, from agriculture and automotive to technology and finance. While details on the specifics of Japan’s reported proposal or the potential scope of such a deal remain limited based on Trump’s brief comment, the willingness to negotiate signals a potential evolution in bilateral economic ties. Historically, trade deals between major economies aim to reduce tariffs, eliminate non-tariff barriers, harmonize regulations, and establish frameworks for investment and intellectual property protection. The outcomes of such negotiations can: Impact the competitiveness of industries in both countries. Influence currency exchange rates. Affect consumer prices. Stimulate or constrain economic growth. For market participants, including those in the crypto space, these potential shifts create a layer of macroeconomic context that is essential to monitor. A favorable trade deal could be seen as a positive for global economic stability, potentially encouraging risk-on sentiment. Conversely, difficult negotiations or the threat of trade barriers could introduce uncertainty, potentially leading investors towards assets perceived as safer havens. How Do Trump Trade Talks Impact Global Stability? Beyond the potential US Japan Trade Deal , Donald Trump’s comments also reportedly touched upon discussions with other nations, specifically mentioning India and Pakistan. This broader context of Trump Trade Talks highlights his continued interest and potential influence on international economic relations, even outside of a presidential capacity. While the nature and depth of these reported talks are not fully clear, any dialogue involving major global players like the U.S., Japan, India, and Pakistan carries geopolitical weight. Global stability is a critical factor influencing financial markets. Trade disputes, diplomatic tensions, or shifts in international alliances can trigger volatility across asset classes. During periods of heightened geopolitical uncertainty, investors often re-evaluate their portfolios, sometimes moving away from riskier assets towards more traditional safe havens like gold or certain government bonds. The narrative around cryptocurrencies, particularly Bitcoin, as a potential ‘digital gold’ or hedge against traditional financial system instability, means they are not immune to these global dynamics. Consider the potential scenarios: Successful Negotiations: Deals reached smoothly could signal cooperation and stability, potentially boosting overall market confidence. Protracted or Difficult Talks: Lingering uncertainty or the threat of failed negotiations can create market jitters. New Trade Barriers: Imposing tariffs or restrictions can disrupt supply chains and economic growth, often leading to negative market reactions. These outcomes directly feed into the overall risk appetite of investors, which in turn influences capital allocation decisions, including exposure to cryptocurrencies. The Global Trade Impact on Financial Markets Major trade agreements and the discussions surrounding them have a tangible Global Trade Impact that resonates across traditional financial markets before potentially influencing crypto. Stock markets often react to news about trade deals, with sectors poised to benefit seeing gains and those potentially harmed experiencing declines. Currency markets are particularly sensitive, as trade balances and capital flows directly affect exchange rates. Bond yields can also fluctuate based on expectations of economic growth and inflation influenced by trade policies. Let’s look at some direct and indirect impacts: Currency Strength: A trade deal perceived as beneficial for the U.S. economy could strengthen the dollar, while benefits for Japan could boost the Yen. Currency fluctuations impact the purchasing power of international investors looking at dollar-denominated assets like many cryptocurrencies. Inflation Expectations: Reduced tariffs can lower import costs, potentially easing inflationary pressures. Conversely, trade barriers can increase costs. Inflation expectations are a key driver for assets like Bitcoin, which some view as an inflation hedge. Economic Growth Projections: Trade deals aim to stimulate economic activity. Positive growth outlooks generally favor risk assets, including equities and potentially cryptocurrencies. Supply Chain Adjustments: Companies may restructure supply chains based on new trade rules, impacting global logistics and costs, which can have broader economic implications. The sensitivity of traditional markets to trade news means that significant developments in Trump Trade Talks or the potential US Japan Trade Deal will likely be priced into stocks, bonds, and currencies first. These movements then contribute to the overall market sentiment that spills over into the crypto space. What Does Crypto Market Geopolitics Mean for Your Portfolio? The concept of Crypto Market Geopolitics explores how international relations, political events, and economic policies influence the cryptocurrency landscape. While often touted as decentralized and independent, the crypto market operates within the real world’s financial ecosystem and is subject to the forces that shape it. Trade deals and geopolitical events like those hinted at by Trump’s comments can affect the crypto market in several ways: Geopolitical/Trade Factor Potential Crypto Impact Explanation Increased Global Uncertainty (e.g., trade tensions) Increased demand for perceived safe havens (Bitcoin) OR flight from risk assets (altcoins, even BTC) Depending on the narrative at the time, investors may seek BTC as ‘digital gold’ or simply reduce exposure to all volatile assets. Positive Economic Outlook (e.g., successful trade deal) Increased risk-on sentiment, potential capital inflow into crypto Stronger global economy can encourage investment in growth-oriented or speculative assets. Currency Volatility Increased interest in stablecoins or non-sovereign assets like BTC People in regions experiencing currency devaluation may turn to crypto as an alternative store of value or medium of exchange. Regulatory Responses Potential shifts in crypto regulation driven by national economic interests Countries might accelerate or alter crypto regulations based on their position in the global economic order and trade relationships. Therefore, staying informed about major geopolitical and trade developments, such as the potential US Japan Trade Deal and other Trump Trade Talks , is not just for traditional investors. It’s an integral part of understanding the broader market context that can significantly influence crypto prices and trends. Navigating Economic Policy Shifts: Actionable Insights for Crypto Investors Given the interconnectedness of global finance, changes in Economic Policy , whether through trade deals, monetary policy, or fiscal stimulus, inevitably create ripples that reach the crypto market. For crypto investors, this isn’t about becoming a trade expert, but rather recognizing how these macro forces can impact investment decisions and portfolio management. Here are some actionable insights: Stay Informed on Macro News: Pay attention to major economic announcements, central bank decisions, and significant geopolitical developments like trade negotiations. Resources like reputable financial news outlets and economic calendars are valuable. Understand Correlation Dynamics: Observe how cryptocurrencies, particularly Bitcoin, are correlating with traditional assets (like stocks or gold) during different economic climates. Sometimes Bitcoin acts like a tech stock, sometimes like a safe haven. Diversify Your Portfolio (Within Crypto and Beyond): Don’t put all your eggs in one basket. Consider diversifying across different crypto assets with varying use cases and market caps. Also, think about your overall asset allocation across traditional and digital assets based on your risk tolerance and view of the macroeconomic environment. Develop a Long-Term Perspective: While short-term volatility can be driven by news events, the long-term trajectory of cryptocurrencies is more likely to be influenced by fundamental adoption, technological development, and broader shifts in the financial system. Avoid making impulsive decisions based solely on immediate reactions to trade news. Consider Hedging Strategies: Depending on your expertise and risk profile, explore strategies that might help hedge against potential market downturns driven by macroeconomic factors. The potential for a new US Japan Trade Deal , alongside other reported Trump Trade Talks , serves as a reminder that external economic and political factors are powerful forces in the global financial system. Ignoring them means missing a significant part of the picture that influences the environment in which cryptocurrencies trade. Benefits of Monitoring Global Trade Developments: Better understanding of overall market sentiment (risk-on vs. risk-off). Ability to anticipate potential shifts in currency strength or inflation expectations. Insight into factors that might drive institutional investment decisions. Improved context for analyzing price movements in relation to external catalysts. Challenges: News can be speculative or lack detail, making it hard to assess true impact. The relationship between trade news and crypto can be indirect and complex. Market reactions can be unpredictable and driven by multiple factors simultaneously. Ultimately, successful navigation of the crypto market involves more than just analyzing blockchain data or project whitepapers. It requires a holistic view that includes understanding the major macroeconomic and geopolitical forces at play. The reported desire for a US Japan Trade Deal and the mention of broader Trump Trade Talks are prime examples of the kind of global developments that warrant attention from the informed crypto investor. Conclusion: Staying Ahead in a Connected World The revelation that Japan is reportedly seeking a US Japan Trade Deal , as mentioned by Donald Trump alongside other Trump Trade Talks , underscores the constant movement in global economic and political spheres. These discussions have a direct Global Trade Impact on traditional markets and contribute to the broader environment that shapes Crypto Market Geopolitics . While the direct line between a trade negotiation and the price of Bitcoin or Ethereum might not always be immediately obvious, the indirect influences through changes in market sentiment, economic outlook, and regulatory considerations are undeniable. Understanding how major shifts in Economic Policy and international relations can affect financial stability and investor behavior is crucial for anyone participating in the digital asset space. As the crypto market matures, its integration with the traditional financial system increases, making it more susceptible to the same macroeconomic winds that have always driven global markets. Staying informed, maintaining a diversified perspective, and focusing on long-term trends while being aware of potential short-term catalysts from global events are key strategies for navigating this complex and ever-evolving landscape. To learn more about the latest Crypto Market Geopolitics trends, explore our article on key developments shaping Economic Policy and its impact on market volatility. This post US Japan Trade Deal: Trump Talks Signal Crucial Economic Shifts first appeared on BitcoinWorld and is written by Editorial Team
Wells Fargo reportedly refused to refund customers who recently had their accounts drained by scammers – until the bank began facing questions from the media. Houston resident Heather Sanders was defrauded for $4,000, while in a separate incident, Texas couple Jose and Amanda Vasquez had $40,000 stolen from their business account, reports FOX 26. In both cases, Wells Fargo reportedly denied the victims’ claims until the media investigated the incidents. The bank changed its rulings on both cases and has now reimbursed what was stolen from the accounts. Sanders says she received a call bearing Wells Fargo’s phone number. Sanders says the person on the other line convinced her that her account was at risk, with someone trying to move funds out of her account and into Zelle. During the call, Sanders says the thief asked her to input her old PIN into her phone and enter a new PIN twice before hitting the pound sign. She also says that the scammer told her to cut her debit card, place it inside an envelope and wait for a courier to pick it up. “I made the mistake, I didn’t cut the chip in half. I just cut the card in half like he said.” The thieves ended up plundering her account, withdrawing over $4,000 from different locations, including a Wells Fargo ATM. Sanders abruptly sought the assistance of Wells Fargo to recover her funds, but the bank denied her request for reimbursement. However, Wells Fargo reopened the matter after the media reported on the story and then reimbursed her. In the Vasquez case, the couple noticed someone had attempted to set up a direct transfer for $20,000 and asked the bank to stop the transfer. Not only did the transfer go through, but another $20,000 transfer did as well. The couple says they don’t understand why Wells Fargo allowed the second $20,000 transfer to go through when they had already been alerted of the first fraudulent transaction. After filing a claim, Wells Fargo said it detected no fraud in the disappearance of their money, declaring the investigation closed. But soon after the media reported on the incident, the couple says the bank made them whole. 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 Wells Fargo Reportedly Rejects Reimbursement After $44,000 Drained From Accounts – Until Questions Surface in the Media appeared first on The Daily Hodl .
Edoardo Farina, CEO of Alpha Lions Academy and well-known XRP advocate, took to X to outline what he sees as the path ahead for the digital asset. Many notable developments in XRP’s future have the community excited, and Farina highlighted key ones that could be game-changers. The End of XRP’s Legal Troubles The most exciting development in XRP’s immediate future is the resolution of the long-running legal battle between Ripple and the U.S. Securities and Exchange Commission (SEC). In late March, the SEC agreed to withdraw its appeal against Ripple . Both parties have been working to dismiss the lawsuit legally. This agreement will remove the permanent injunction preventing XRP sales to institutions and lower Ripple’s penalty from $125 million to $50 million . They recently faced a setback as Judge Annalisa Torres rejected the settlement agreement filed by the SEC due to a procedural error. The community is eagerly awaiting the next steps and the resolution of the legal battle, as it would provide legal clarity for XRP in the U.S., which most digital assets don’t have. Here's what awaits for $XRP : – SEC lawsuit officially over – Legal clarity in the U.S while most Cryptos are still in limbo – BTC maxis are starting to FOMO in – Set to replace SWIFT as the global payment standard – Helping governments build their CBDCs – Reserve Currency pic.twitter.com/mfgwmxTcJg — EDO FARINA 🅧 XRP (@edward_farina) May 30, 2025 XRP’s Potential Shines Through According to Farina, XRP is gaining traction among skeptics, including Bitcoin maximalists. Davinci Jeremie, a well-known Bitcoin advocate, recently predicted that XRP will rise to $24 by the end of 2025 , showing that even Bitcoin maximalists can see XRP’s potential. We are on twitter, follow us to connect with us :- @TimesTabloid1 — TimesTabloid (@TimesTabloid1) July 15, 2023 A New Global Payment Standard Farina also reiterated the long-standing position among XRP supporters that the asset is poised to challenge or replace SWIFT, the dominant messaging system used by banks for international payments. XRP’s underlying technology enables the direct transfer of value without the delays and fees associated with traditional systems. The increasing demand for faster and more transparent payment networks could open the door for XRP to take on SWIFT’s role. CBDC Infrastructure and Reserve Currency Goals Another significant point made by Farina is XRP’s ongoing involvement with central banks in developing Central Bank Digital Currencies (CBDCs). France has shown interest in the XRP Ledger (XRPL) for this purpose, and Ripple has been working with the National Bank of Georgia on a CBDC project since 2023. The XRP Ledger has been piloting programs and exploratory projects to test the feasibility of CBDC issuance. This process could aid XRP’s global expansion, adoption, and influence. XRP’s role as a CBDC could also enhance its standing as a neutral bridge currency between fiat systems, helping it achieve its goal of becoming a global reserve currency —the final development highlighted by Farina. Disclaimer : This content is meant to inform and should not be considered financial advice. The views expressed in this article may include the author’s personal opinions and do not represent Times Tabloid’s opinion. Readers are advised to conduct thorough research before making any investment decisions. Any action taken by the reader is strictly at their own risk. Times Tabloid is not responsible for any financial losses. Follow us on X , Facebook , Telegram , and Google News The post Expert Outlines Six Big Developments Coming For XRP appeared first on Times Tabloid .
Many digital asset investors have decided to ensure safety by investing in kidnapping and ransom (K&R) policies. Crypto investors were seeking K&R policies due to increased physical attacks witnessed in recent months. Insurance firms have been preparing these policies for crypto investors. As per a report by NBC, there has been an increase in violent attacks on crypto investors over the last few months. Investors have sought crypto insurance and security from insurance companies. At least three insurance companies have started preparing kidnapping and ransom policies. Digital asset owners experience physical and digital attacks 🇺🇸CRYPTO INVESTOR TURNED TORTURE KINGPIN IN NYC HORROR PAD A Kentucky crypto bro allegedly turned a $40K/month SoHo rental into a full-blown torture chamber to extort millions from an Italian tourist. Police say John Woeltz bound the man for 2 weeks, electrocuted him,… pic.twitter.com/55pZIm3g3G — Mario Nawfal (@MarioNawfal) May 24, 2025 Rebecca Rubenfeld, AnchorWatch’s Chief Operating Officer, recently said the firm was preparing to offer kidnapping and ransom protection. Rubenfeld added that the fear of violence was a main topic at the recent annual Bitcoin Conference. The COO stated that many crypto investors were nervous due to increased attacks on crypto holders. An Italian tourist was recently tortured for several weeks in Manhattan to access his Bitcoin. John Woeltz, the suspected kidnapper, was arrested and arraigned in court for kidnapping, unlawful imprisonment, and physical assault. Coinbase recently said thieves stole customer information belonging to over 70,000 clients. Coinbase said some customers had already been tricked out of their crypto holdings. In a recent filing with the U.S. SEC, Coinbase revealed that it had received an extortion email from criminals who had accessed customers’ names, government identification, contact information, and addresses. The crypto exchange added that the criminals had also obtained customers’ transactional history and some digits of their Social Security numbers. The crypto exchange revealed that the thieves tried to extort it for over $20 million. Coinbase clarified that it would not pay the amount demanded by the criminals. The exchange said it would instead offer a $20 million bounty for details that would lead to the arrest of the criminals. Insurance firms prepare to offer K&R insurance Ryan Lackey, the CEO of Evertas Insurance, said the right protection for wealthy crypto holders was to have physical security. Lackey added that digital asset wonders should also make it public that they could only access a particular portion of the funds. The CEO stated that most of their digital assets should be guarded with passwords and stored in secure locations such as safety deposit boxes and banks. Lackey said Evertas advises clients to opt for kidnapping and ransom insurance. The CEO revealed that the firm was considering how best to provide K&R insurance. The vice president of executive risk at Hylant Capital, Andrew Kurt, said he was not amazed to see many crypto firms providing kidnapping and ransom insurance. Kurt revealed that K&R insurance was lucrative, given how relatively few digital asset owners get kidnapped. The vice president said K&R has been profitable for insurance firms even though its premiums were very small. Kurt explained that losses in the K&R insurance business were few. The vice president also said that what had happened in the crypto industry would not become a frequent issue. Kurt added that the few kidnapping and ransom cases would just be more of a severity issue. Joseph Ziolkowski, the Chief Executive Officer at Relm, said his firm has been considering launching K&R insurance. Ziolkowski revealed that the process of preparing K&R insurance was a bit complicated. The CEO stated that the firm would need to evaluate the client’s cyber and physical security before offering K&R insurance. Ziolkowski added that there would be a base rate for pricing the K&R coverage. The CEO clarified that the base rate would be debited and credited according to favorable or unfavorable circumstances tied to a particular risk. Ziolkowski said if the client has full-time security details that travel with them at all times, that would obviously be a credit, impacting the premium. Cryptopolitan Academy: Tired of market swings? Learn how DeFi can help you build steady passive income. Register Now
Brazilian fintech Méliuz (CASH3), which serves over 30 million users in the country, is launching a public share offering to raise up to R$450 million ($78 million), with plans to allocate all proceeds to purchasing bitcoin BTC. The offering, announced Friday in a securities filing , consists of an initial issuance of 17 million common shares, with the possibility of expanding to 51 million depending on demand. Shares will be sold exclusively to professional investors in Brazil and abroad under automatic registration rules. Each share purchased will come with a package of free subscription warrants divided into 10 series, allowing investors to buy additional stock at set prices in the future. At current share prices, Méliuz expects to raise around $26 million, but that figure could triple if overallotment options are exercised. Investors participating in the offering will also receive 50.6 million warrants, of which up to 152 million will be issued in total under maximum subscription conditions. Méliuz will use the raised funds to acquire BTC, positioning it as a "primary strategic asset" in its treasury. The firm, known for its cashback and financial services platform, revealed it was allocating 10% of its cash reserves to BTC back in March. Warrant trading is expected to begin on June 16, with share settlement and crediting of the bonus instruments by June 18. The company currently holds 320.2 BTC. Its shares dropped more than 8% in Friday’s trading session.
Bitcoin ETFs saw their 2nd consecutive day of outflows, shedding $616 million in capital, with Blackrock’s IBIT leading the retreat. Meanwhile, ether ETFs extended their winning streak to 10 days, fueled solely by Blackrock’s ETHA. Bitcoin ETFs Slide for Second Day As Blackrock’s IBIT Leads Withdrawals After 10 days of bullish momentum, bitcoin ETFs appear