On June 12, in a latest filing in the long-running legal battle between the U.S Securities and Exchange…
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Reports emerged this week that basketball icon Shaquille O’Neal is settling his FTX class-action lawsuit by agreeing to pay investors of the doomed crypto exchange nearly $2 million. Shaquille O’Neal Becomes First Celebrity Set To Finalize FTX Lawsuit Filed in the U.S. District Court for the Southern District of Florida, the proposed settlement would see the former Los Angeles Lakers player pay $1.8 million to affected FTX investors. O’Neal was hit with the lawsuit by users of the crypto exchange in May 2023 after he appeared in an FTX commercial in 2022, just months before the brainchild of Sam Bankman-Fried became insolvent. You may have thought the FTX litigation involving athletes and celebs was mostly over. It’s not. Shaq escaped with a $1.8M settlement. Others, like Steph Curry and Tom Brady, are betting on beating all the allegations. The plaintiffs’ atty tells @FOS that could be costly. https://t.co/BQwW4Pw6Li — Ben Horney (@BenHorney) June 11, 2025 “We are pleased to have this matter behind us,” O’Neal’s lawyers told CNBC. Tom Brady, Kevin O’Leary, and More Dragged Into SBF Drama O’Neal’s settlement marks the first litigation closure in what could be a series of high-profile lawsuits tied to FTX’s years-long crypto fraud scheme. Just last month, a Florida federal judge dismissed several claims against celebrities who promoted FTX ahead of its November 2022 downfall, including Gisele Bündchen, Tom Brady, Stephen Curry, and Kevin O’Leary. O’Neal cleared up any involvement in FTX’s multibillion-dollar fraud scheme shortly after the crypto exchange’s collapse. “A lot of people think I’m involved, but I was just a paid spokesperson for a commercial,” he said in a statement at the time. Where Is SBF Now? Bankman-Fried is serving a 25-year prison sentence for orchestrating the digital asset scheme after a whirlwind 2023 trial that saw several key associates, including his ex-girlfriend, Caroline Ellison, testify against him. The one-time “king of crypto” is currently behind bars at FCI Terminal Island in his home state of California after his appeal was rejected in late 2024. “He was presumed guilty—before he was even charged,” lawyers for Bankman-Fried said in the 2024 brief. Ellison, meanwhile, is serving a two-year sentence at Danbury FCI in Connecticut after she struck a cooperation deal with the federal government in a bid to receive a reduced sentence. The post Shaquille O’Neal Shells Out $1.8M in First Celebrity FTX Settlement appeared first on Cryptonews .
Ripple and the SEC have joined forces to file a motion in a Manhattan district court, hoping for a decision that will support the settlement agreement. This is an unexpected turn in the XRP case. The court has been asked by both sides to lift the injunction and release the money order. In the XRP case, Rule 60 says that the parties want the court to get rid of the injunction and lower Ripple’s civil fine to $50 million. This is what Judge Analisa Torres said should be done, which is to file under Rule 60, which says that authorization is needed in certain situations. Ripple and the SEC’s new direction on years-long battle In an X post , Journalist Eleanor Terrett revealed that both parties have jointly asked the Manhattan District Court to release the $125 million civil penalty against Ripple from escrow. 🚨NEW: The @SECGov and @Ripple have jointly requested a Manhattan District court to dissolve the injunction in their ongoing case and release the $125 million civil penalty held in escrow. They’re proposing that $50 million be paid to the SEC, with the remaining funds returned… pic.twitter.com/UopQuQNG5q — Eleanor Terrett (@EleanorTerrett) June 12, 2025 The deadline for the 2nd Circuit status report is June 16. Therefore, the move is expected to be filed either on Friday or Monday. If submitted, it may persuade the appellate court to provide an additional sixty days to consider the case. The SEC and Ripple are currently facing delays in reaching a final settlement. In their brief to Judge Analisa Torres, Ripple and the SEC point out “exceptional circumstances” as grounds that allow the motion to be granted. According to the lawyers, there has been no progress to report as of yet. Thus, the indicative rule request is crucial for both sides . As long as nothing is done, the appeal process will drag on, adding more time to the lawsuit’s timeframe. Legal analysts believe this motion shows a serious intent to settle important injunctive issues. XRP case blocks Ripple IPO efforts The present injunction limits Ripple’s ability to sell XRP coins, which is a major roadblock on the way to an IPO. According to legal experts, the injunction must be lifted before Ripple can move forward with its initial coin offering (IPO) plans for the next four years. Despite turning down comparable requests under Rule 62.1 in the past, the SEC can finally grant the request under Rule 60. Rule 60 requires evidence of substantial changes in the circumstances, as Judge Torres made plain. So, it’s up to the two sides to convince the court to change its mind. According to legal sources, Ripple and the SEC have agreed to submit this combined motion prior to the continuation of the appeal process. If the motion is granted, the injunction’s status and the sanctions would be changed. Additionally, the motion would postpone the appeals timeline, providing additional time for negotiations on the two sides. KEY Difference Wire : the secret tool crypto projects use to get guaranteed media coverage
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BitcoinWorld US PPI Data Reveals Unexpected Calm, Boosting Crypto Hopes Hello crypto enthusiasts! Economic data points from the United States often send ripples across global markets, and this week is no different. The latest report on the US PPI , or Producer Price Index, just dropped, and it’s stirring up some discussion about the state of inflation and what it could mean for assets like cryptocurrencies. What Did the Latest US PPI Report Show? The U.S. Department of Labor recently released the figures for the Producer Price Index for May. Here’s a quick breakdown of the key numbers: Month-over-Month (May vs. April): PPI rose by 0.1%. This was slightly below the market expectation of a 0.2% increase. Year-over-Year (May 2024 vs. May 2023): PPI increased by 2.6%. This figure was in line with forecasts and represented a slight uptick from the 2.5% recorded in April. This print, particularly the softer month-over-month figure, provides a slightly different perspective on inflationary pressures compared to some recent data releases. It suggests that the prices producers are receiving for their goods and services aren’t accelerating as quickly as some anticipated. Understanding the Producer Price Index : Why Does it Matter? So, what exactly is the Producer Price Index ? Think of it as a measure of inflation from the perspective of the sellers or producers in the economy. It tracks the average changes in selling prices received by domestic producers for their output. Why is this important? Because changes in producer prices often serve as an early indicator of potential changes in consumer prices. If producers are paying more for raw materials or receiving higher prices for their goods, those costs can eventually be passed on to consumers, showing up later in the Consumer Price Index (CPI). The PPI is often seen as a leading or coincident indicator for the CPI, though the relationship isn’t always perfectly direct or immediate. Tracking the PPI helps economists and policymakers gauge inflationary trends earlier in the supply chain. How Does This Inflation Data Influence the Federal Reserve ? The Federal Reserve , the central bank of the United States, has a dual mandate: to maximize employment and maintain stable prices (control inflation). Economic data like the PPI is crucial for the Fed’s decision-making process regarding monetary policy, specifically interest rates. When inflation data comes in lower than expected, it can provide the Fed with more flexibility. It suggests that the economy might be cooling down, and the urgency to keep interest rates high to combat inflation could lessen. Conversely, hotter-than-expected inflation data puts pressure on the Fed to maintain or even increase rates. While the Fed pays closer attention to the Personal Consumption Expenditures (PCE) price index as its preferred inflation gauge, the PPI and CPI are also significant inputs into their assessment of the overall inflationary environment. A series of softer inflation prints across different measures could pave the way for potential interest rate cuts in the future. What’s the Potential Impact on the Crypto Market ? Now, let’s talk about why this matters to the Crypto Market . Cryptocurrencies are often considered risk assets. Their prices can be influenced by macroeconomic factors, including interest rates and inflation expectations. Here’s the general dynamic: Higher Interest Rates / Strong Inflation Fears: Tend to be negative for risk assets like crypto. Higher rates make traditional investments (like bonds) more attractive, and borrowing becomes more expensive, potentially reducing speculative investment in volatile assets. Lower Interest Rates / Cooling Inflation: Can be positive for risk assets. Lower rates reduce the attractiveness of traditional savings and debt becomes cheaper, potentially encouraging investment in higher-growth or more speculative areas like crypto. The May PPI report, showing a slightly weaker month-over-month increase than anticipated, could be interpreted by markets as a sign that inflationary pressures might be easing. This narrative, if sustained by future data, could support the argument for the Federal Reserve potentially cutting interest rates sooner rather than later. While one data point isn’t a trend, it adds to the overall picture the market is building. Therefore, a softer PPI print is generally seen as a marginally positive signal for risk assets, including Bitcoin, Ethereum, and the broader crypto market, as it aligns with the hope for future monetary easing. Looking Ahead: What’s Next for Economic Indicators ? While the May PPI data provides a piece of the puzzle, markets are always looking ahead to the next major releases. The Consumer Price Index (CPI) is often considered more impactful for direct market reaction, and the May CPI data is also highly anticipated. The CPI report will give us insight into inflation from the consumer’s perspective, which is a critical component the Fed evaluates. Beyond inflation data, market participants will also be closely watching employment figures, retail sales, and manufacturing data to get a comprehensive view of the U.S. economy’s health. The collective picture painted by these economic indicators will heavily influence market sentiment and expectations regarding the Federal Reserve’s future actions. In Conclusion The U.S. May PPI report came in slightly below market expectations on a month-over-month basis, while the year-over-year figure remained stable and in line with forecasts. This data point suggests that inflationary pressures at the producer level might be moderating, which is a piece of potentially good news for those hoping for future interest rate cuts from the Federal Reserve. While not a definitive game-changer on its own, this Inflation Data contributes to the ongoing narrative that could influence the Fed’s path and, consequently, the performance of the Crypto Market and other risk assets. As always, staying informed about key economic releases is vital for understanding the broader market context. To learn more about the latest crypto market trends, explore our articles on key developments shaping the crypto market price action. This post US PPI Data Reveals Unexpected Calm, Boosting Crypto Hopes first appeared on BitcoinWorld and is written by Editorial Team
According to breaking news, Coinbase, the largest cryptocurrency exchange in the United States, has added the Sonic (S) altcoin to its roadmap for listing. S recently replaced FTM, the native cryptocurrency of well-established blockchain Fantom. *This is not investment advice. Continue Reading: JUST IN: Coinbase Adds Expected Altcoin to Its Roadmap
Unstaked’s presale nears $10 million, signaling strong investor interest amid Ripple’s payment innovations and Pi Coin’s significant price decline. While Pi Coin faces a bearish downturn with a 60% drop,