Bit Global has officially dropped its $1 billion lawsuit against Coinbase, with both firms agreeing to dismiss the case with prejudice, according to a joint court filing submitted Friday. Antitrust Accusation Dropped The joint stipulation, filed in the U.S. District Court for the Northern District of California, confirms that the dispute between Bit Global Digital
Prominent attorney and cryptocurrency legal expert Bill Morgan has addressed claims made by market participants regarding the legal status of the XRP token. The lawyer fired back at an X user who made several claims about the token, including a statement that XRP’s legal status remains undefined. Bill Morgan retorted, explaining that the Judge had in fact established that XRP was not a security. Notably, the U.S. Securities and Exchange Commission did not counter the Judge’s assertion during the legal battle between the regulator and Ripple. “This is a lie. XRP has been found by a judge not itself to be a security. The SEC Appeal did not challenge that finding. To say XRP has no legal clarity is the biggest lie I have seen in crypto this year.” The attorney wrote . Analisa Torres, the judge of the United States District Court for the Southern District of New York, remarked that XRP was not an investment contract. However, Morgan said the judge’s opinion, also known as a “dicta,” does not qualify as a formal ruling. “Dicta does provide a degree of legal clarity. It is persuasive authority, and there is no finding to the contrary that XRP is a security. Also persuasive is the reasoning that led to the funding that XRP is not a security. It has more judicial clarity than Bitcoin which has none.” He added. The attorney countered other Bitcoin-related claims, further establishing Bitcoin’s position in the market. “Bitcoin has not been deemed to be a commodity. Courts don’t deem things, they make findings.” He wrote. While there might have been an instance of an obiter, an in-passing statement made by a Judge, describing Bitcoin as a commodity, the attorney maintains that there is yet to be a court case in which Bitcoin has been declared a commodity.
Yuga Labs has unveiled a significant proposal to restructure the ApeCoin governance model by dissolving the ApeCoin DAO and transferring $168 million in assets to a newly formed entity, ApeCo.
In about nine months, the President of the United States (POTUS), Donald Trump, has successfully amassed up to $1 billion in cryptocurrencies. This bag has significantly supercharged his net worth, but not without some controversies. In clear terms, Trump’s net worth, including real estate, is approximately $5.6 billion. President Donald Trump Holds $900 Million in Liquid Assets Trump entered new crypto-related ventures just before the US presidential elections, which he eventually won in November. Since then, he has accumulated up to $1 billion in crypto assets. According to a Forbes report, he currently holds about $900 million worth of liquid assets, and up to half of this amount comes from his crypto pursuits. From Forbes’ calculation , crypto has done more than elevate Trump’s net worth. It has equally made liquidity available for him. For context, the US president was drowning in cash scarcity as of a year ago. At the time, he could only boast of having $400 million on his balance sheet while he had more than $500 million in legal judgments against him. TRUMP Memecoin Gains Industry Traction Trump launched his memecoin, TRUMP, just before he assumed office as the POTUS. In such a short while, the crypto asset has become a phenomenon in the digital currency space. He recently highlighted the idea that TRUMP serves as a reflection of public sentiment toward his leadership. Tokenomist data suggests that only 26.48% of TRUMP’s total supply has been unlocked. This leaves about 73.52%, approximately 735 million tokens, on lock. Per a scheduled unlock, another 50 million TRUMP tokens will hit the market by July 18. This holding is valued at over $520 million. Trump Receives Criticism Over Crypto Involvement Some critics are concerned about Trump’s involvement with crypto and foreign investors. In April, the European Central Bank (ECB) raised concerns about the possible impact of Trump’s support for cryptocurrencies. This sect believes that U.S. laws supporting stablecoins could affect Europe’s financial markets. On this basis, the ECB urged EU lawmakers to make the Market in Crypto Assets (MiCA) regulation tougher to reduce these potential risks. While the impact on potential Web3 businesses are high, the safety of consumers remain the top priority for EU lawmakers. The post President Trump Holds $1 Billion in Crypto Assets appeared first on TheCoinrise.com .
Solana rallied nearly 5% on Friday, down almost 10% in the past week. The Ethereum competitor will likely rally towards its $165 target, a 13% rally within the next week. While Ethereum draws the interest of institutional investors, Solana is competing through partnerships and decentralized applications on the blockchain. Table of Contents Solana price forecast SOL could rally for these three reasons Solana derivatives analysis How Trump-Musk tussle influenced Solana price Solana: A one-trick pony or not Solana price forecast According to technical indicators on the SOL/USDT daily price chart, Solana ( SOL ) could soon observe a trend reversal. SOL is trading at $149.92, and the Ethereum ( ETH ) competitor could rally 13% and test resistance at $170, the upper boundary of the FVG on the daily price chart. Above $170, there are two key resistances: R1, which is the psychologically important price level of $200, and R2, which is the lower boundary of an FVG on the daily price chart, at $218.40. The RSI on the SOL/USDT price chart reads 39 and slopes upwards. MACD flashes red histogram bars under the neutral line. The OBV indicator shows a bullish divergence, with the price heading downwards while the OBV indicator slopes upward. The divergence is typically a sign of a potential trend reversal. In this case, the consolidation likely ends and SOL price changes in the coming week. SOL/USDT daily price chart | Source: Crypto.news Conversely, SOL could find support at $143.25, the lower boundary of an FVG on the daily price chart. You might also like: Top 3 reasons why the crypto market is down today SOL could rally for these three reasons Bybit, one of the key crypto exchanges, has partnered with Circle, Tether, Solana, and Sui to introduce a collaborative blockchain ecosystem. The project, Ecopedia, is set to provide structured and accessible crypto education. Solana’s meme coin ecosystem tanked in response to the tussle between U.S. President Donald Trump and Tesla Chief Elon Musk. In the past week, the past 24 hours, and on Friday, the sector’s market capitalization has declined. The market cap of the Solana meme coin ecosystem has fallen 5% in the past 24 hours to nearly $10 billion. It is likely that once the tussle settles, Solana could resume its uptrend. According to data from The Block, the seven-day daily average of the number of transactions on the Solana blockchain has been steadily upward. Number of active addresses on the Solana Network | Source: TheBlock You might also like: Bitcoin, Ethereum going mainstream as JPMorgan, SEC open doors: Binance Research Solana derivatives analysis Solana derivatives analysis data from Coinglass shows nearly $40 million in long positions were liquidated in the last 24 hours. Less than $5 million in short positions were liquidated in the past 24 hours. The options volume has climbed nearly 50% in the same timeframe, while open interest slips nearly 7%. The long/short ratio exceeds one on Binance and OKX meaning traders are taking more bullish bets on Solana, expecting the token’s price to rally. Solana derivatives data analysis | Source: Coinglass How Trump-Musk tussle influenced Solana price The public spat between the U.S. President and Tesla Chief made headlines for its impact on Nasdaq, Tesla stock price, and Bitcoin ( BTC ), among other things. Solana’s price slipped, alongside other altcoins, as traders turned risk-off. Sentiment shifted from neutral to fear in the past day. Solana has made strides with gains on Friday, it remains to be seen whether the token can wipeout the losses from the past seven days, in the coming week. The Trump-Musk tussle’s impact is felt in the Solana meme coin ecosystem, with a steep decline in market capitalization. A 5% drop within a 24-hour timeframe is significant, and a recovery is less likely unless led by a catalyst. Solana: A one-trick pony or not Analysts at Standard Chartered, the banking giant, labeled Solana a one-trick pony for the meme coin ecosystem’s role in pushing SOL’s price and value higher in the past year. However, it is likely that there is more to SOL with stablecoins, DeFi protocols and partnership announcements in 2025 alone. Standard Chartered meme coins have stress-tested the blockchain in the past, proving its scalability and throughput are effective and paving the way for higher adoption and partnerships. In their report, Standard Chartered suggests Solana expand to other sectors to boost its utility, however SOL generates higher volume and utility from meme coin transactions in the past year. While usage may have declined since the peak of the meme coin rally. Meme coin utility peak | Source: Standard Chartered Solana trades at $150 at the time of writing on Friday. Depending on the catalysts, the price could steer upwards or downwards and end the state of consolidation, bordered by resistance at $187 and support at $141. Disclosure: This article does not represent investment advice. The content and materials featured on this page are for educational purposes only.
Following Bitcoin’s break above $111,000, market participants have been more bullish than ever, anticipating a continuous upward movement for the asset. Notably, one prominent analyst whose bullish sentiments remain untested is predicting that Satoshi Nakamoto, the pseudonymous founder of Bitcoin, could record a massive increase in his net worth. In the near term, Nakamoto’s net worth could topple that of longtime Billionaires Warren Buffett and Mark Zuckerberg , he asserted. Eric Balchunas, the senior ETF analyst at Bloomberg who took to X to share his outlook, is painting a bullish scenario for Bitcoin to validate this prediction. Balchunas outlined the possibilities in a post shared with his 357,000 followers, remarking that Satoshi Nakamoto could be catapulted to a new position in the world’s billionaire list if Bitcoin follows its historical yearly trend of attaining a 50% increase in price value. This year, Nakamoto could replace Warren Buffett and go on to knock out Mark Zuckerberg to become the second richest billionaire, he asserted. At report time, Bitcoin is trading at $105,422. A 50% increase in Bitcoin’s current price will result in a total value of $158,133. “If bitcoin does its normal 50%, then Satoshi will pass Buffett this year and Zuck sometime next year-ish to be #2 richest in the world (Elon has a huge lead). It’s fascinating to ponder that the founder of something so successful never cashed in. It echoes Jack Bogle in that regard.” The analyst wrote . His sentiments come as market participants revisited the famous Satoshi Nakamoto Bitcoin wallet addresses “1A1zP1eP5QGefi2DMPTfTL5SLmv7DivfNa,” to find that the Bitcoin founder’s holdings had risen to $120 billion worth of Bitcoin. Satoshi Nakamoto now holds $120 billion worth of #Bitcoin , making him the 11th richest person in the world pic.twitter.com/oCzo7rOg4v — Bitcoin News (@BitcoinNews21M) May 31, 2025 While it remains uncertain who is in charge of the wallet, Nakamoto reportedly received a 50 BTC reward from mining the first block on the Bitcoin blockchain. As of June 3, Buffett’s net worth of $154 billion made him the sixth richest billionaire on the Forbes list , while Zuckerberg holds the second position with a net worth of $216 billion. Satoshi Nakamoto’s $120 billion holding would have earned him the 10th position, currently occupied by Microsoft’s Steve Ballmer, whose net worth totals $118 billion.
Cardano is positioning itself as a pivotal platform in the emerging Bitcoin DeFi ecosystem, aiming to unlock significant untapped potential beyond Ethereum and Solana. Charles Hoskinson highlights Bitcoin’s DeFi market
According to a recent market report, the U.S. federal debt has skyrocketed, marking a significant increase over four years. As a ratings platform, Weiss Ratings reported that interest levels make up 50% of the federal deficit. “Total U.S. federal debt is $34 trillion. That’s an increase of $11 trillion in just four years, the fastest pace in history. At roughly $1 trillion a year, interest alone now accounts for half the federal deficit.” The report read. Speaking on the dangers of the new development in the U.S. economy, Jamie Dimon, the CEO of JPMorgan Chase, brought attention to the emerging U.S. debt market crisis. “It’s a big deal, it is a real problem,” he remarked. Bitcoin as an antidote to economic collapse In a follow-up response, Weiss’s Crypto rating outlined a bullish scenario that could unfold if the current market pattern continues. Should the Treasury market collapse with the introduction of new issuance, the Federal Reserve system could kick off a fiat currency printing spree; a move that could position Bitcoin and other crypto assets as better alternatives. “The moment the Treasury market cracks under a mountain of new issuance, the Fed will ride to the rescue to buy U.S. government debt. They will print with reckless abandon, debase the currency, launching crypto (and other assets) straight into the stratosphere.” The report read. Cryptocurrencies like Bitcoin are increasingly considered alternative assets capable of combating inflation for traditional market players. Notably, Ryan Cohen, the CEO of GameStop referred to Bitcoin as an inflation hedge against traditional currencies. Cohen, who has successfully snapped up $512 million worth of Bitcoins is quoted saying; “If Bitcoin becomes digital gold, its upside will be even greater.”
Solana (SOL) is showing signs of a potential market reversal as a major whale unstaked and moved significant holdings, signaling shifting sentiment among long-term investors. Despite recent selling pressure and
As Bitcoin surged to a new all-time high in May, sparking momentum across cryptocurrencies, the decentralized app industry also saw a revival. In fact, DappRadar’s latest findings identify May 2025 as a turning point for the dapp sector. During the same period, the NFT market also saw signs of life. Turning Point for the Dapp Ecosystem In May, the dapp industry exhibited renewed optimism as the daily Unique Active Wallets (dUAW) rose 8% to 25 million, amid broader positive market trends. Notable growth was seen in three key sectors: AI dapps surged 23% to 4.8 million dUAW, social dapps grew 21% to 4.3 million, and NFT dapps increased 9% to 3.9 million. These sector-specific gains indicate stronger user engagement and contribute to a more balanced dapp ecosystem, according to DappRadar’s report . Meanwhile, AI, DeFi, and gaming dapps were found to have been converging in terms of user activity, and each captured a similar share, which evidenced a diversified and maturing market The DeFi sector also maintained strong growth as the Total Value Locked (TVL) surged by 25% to around $200 billion. This growth aligns with the overall market rally, driven by Bitcoin’s new all-time high and Ethereum’s 40% price increase, which boosted DeFi asset values and liquidity. Decentralized exchange Hyperliquid stood out by reaching $244 billion in trading volume, capturing about 10% of Binance’s market share despite massive criticism from prominent industry players after the controversial handling of a market manipulation incident. This achievement positioned Hyperliquid among the top 5 exchanges by trading volume, across both centralized and decentralized platforms, and within the top 10 by TVL across all blockchain networks. NFT Market Rebounds Meanwhile, the NFT market showed renewed activity in May, with trading volume rising 40% month-over-month to $280 million. Transaction counts also climbed 35%, totaling 2.7 million. Although these figures signal improving momentum, DappRadar said that it is premature to call it a full recovery. Continued growth over the coming months will be crucial, but the recent gains still offer a promising sign for the sector. Ethereum regained its lead in the NFT market in May, with a 30% jump in trading volume and a 53% market share. It was followed by Immutable zkEVM at 13% and Abstract at 10%. Abstract’s 1200% surge was largely driven by speculation tied to farming incentives and potential airdrops. The post DappRadar: DeFi and NFT Upticks in May Could Mark Start of Recovery appeared first on CryptoPotato .