A 9 million UNI transfer to Coinbase Prime—after 3½ years of silence—has traders on edge...
Binance has unveiled an innovative fund management solution, reflecting the increasing integration of traditional finance principles within the cryptocurrency sector. This launch underscores Binance’s commitment to improving operational efficiency, allowing
Raydium (RAY), the largest automated market maker (AMM) platform on the Solana network, has sparked speculation among users with an encrypted message shared via its official X account. The official Raydium account has sparked discussions about a potential airdrop to be distributed to its users by sharing an “airdrop” emoji. RAY, which is currently traded on major cryptocurrency exchanges including Binance, may likely airdrop not its own token but a newly released token. The platform recently launched an altcoin launch platform called LaunchLab, with the aim of competing with memecoin launch platform PumpFun. The latest airdrop claims are thought to be related to this platform. — Raydium (@RaydiumProtocol) April 24, 2025 Related News: Onchain Data Shows Fresh Whales Have Started Accumulating Massive Amounts of This Altcoin The PumpFun development team is making millions of dollars in profits every month, and is transferring the SOL coins it earns to various centralized cryptocurrency exchanges and presumably selling them. Raydium also introduced its new platform initiative last week, aiming to get a share of the memecoin launch market. Following the emoji shared by Raydium, the value of the token jumped by approximately 4%. Graph showing the rise in RAY price following the development. *This is not investment advice. Continue Reading: This Binance-Listed Altcoin Shared a Mysterious Message from its Official X Account: Price Reacts
The Chicago Mercantile Exchange (CME) is set to revolutionize the crypto trading landscape by launching XRP futures on May 19, a significant move that could amplify liquidity. This introduction of
The post Cardano (ADA) Enters a Decisive Phase: Will a Golden Cross Trigger a Move Above $1? appeared first on Coinpedia Fintech News The crypto market is in a pivotal phase, marked by trend reversals, mixed short-term performance and total capitalization at $2.89 trillion. While Bitcoin, Ethereum, XRP, etc., and a few more have slid down, Cardano (ADA) price has managed to keep up the bullish momentum. The third-generation token witnessed a robust rally this week, delivering over 16% gains as it surged from a low of $0.62 to $0.73. With the rise in the investors sentiments, the ADA price appears to be gearing up for its next big move. The ADA price began the week consolidating near the $0.62 to $0.63 zone but broke out strongly mid-week and climbed past the resistance at $0.68. Besides, the retail participation surged, with wallet and address activity increasing by double digits week-over-week. As per some reports, more than $16 million in ADA exited exchanges, indicating the investors moving tokens to cold storage, typically a bullish signal. The open interest in ADA-related derivatives soared alongside spot price appreciation, confirming growing market engagement. Now that the ADA price has reached an important price zone, a breakout may lead the price to trigger a rise close to $1. As seen in the above chart, the ADA price is stuck between the pivotal resistance and support levels at the 200- and 50-day MA, respectively. On the other hand, the MAC shows a drop in the selling pressure, including a bullish crossover, which could reinforce the upward momentum. Although the RSI has not yet reached the overbought range, the rise in the levels hints towards an increase in the buying interest. With the bullish technicals surrounding the ADA price rally, the next critical resistance could be around $0.77 and if the price rises above the range, a rise above $1 could be imminent. Moreover, a potential Golden cross may also ease the bullish activity in the next couple of days. The bullish sentiment has been dominating the ecosystem, supported by social chatter forecasting upside towards $1 or, optimistically, even $4 in the coming months. The crypto is in a technical and sentiment-driven upswing with key resistance levels at $0.77 and $0.1.1 as the next focus for the bulls. Therefore, sustained momentum and supportive macro conditions could propel the Cardano (ADA) price to new yearly highs.
Crypto Scammer Hugh Austin Sentenced to 18 Years for $12M Fraud Scheme Eugene William Austin Jr., also known as “Hugh Austin,” has been sentenced to 18 years in federal prison for orchestrating a cryptocurrency scam that conned investors out of more than $12 million. The Justice Department this week confirmed the sentencing, with Austin, 62, operating the scheme for several years and conning more than two dozen victims. Bogus Crypto Offers and Pretended Promises U.S. Attorney Jay Clayton accuses Austin of deceiving entrepreneurs and investors into sham businesses. He provided fake cryptocurrency investments, short-term trading, and pretended brokerage services. Some thought their funds were being invested effectively, but they were used for Austin’s excessive personal expenditures—from high-end hotels to fine restaurants and air travel. To further the deception, Austin feigned having wealthy financial supporters who never materialized. This fictional support helped build the aura of legitimacy, and additional victims parted with their funds. Conviction and Sentencing Details Austin was found guilty in September 2024 by a federal jury of conspiracy to commit wire fraud, money laundering, and interstate transportation of stolen property. Austin was sentenced by U.S. District Judge P. Kevin Castel to 18 years in prison, followed by three years of supervised release. Austin also had to forfeit more than $6 million and pay more than $12.6 million in restitution to victims. “This Office will continue to pursue those who exploit trust and use cryptocurrency as a veil for fraud,” Clayton said, commending Homeland Security Investigations and the DOJ’s Complex Frauds and Cybercrime Unit. Co-Conspirator Brandon Austin Sentenced Brandon Austin, Hugh’s son, was already sentenced to four years in prison for his role in the scheme. His actions helped further the scam, prosecutors stated. Assistant United States Attorneys Olga Zverovich, Matthew Weinberg, and Andrew Chan prosecuted the case.
Cryptocurrency exchange Binance has introduced a new fund management solution designed to simplify asset management for portfolio managers, highlighting the growing sophistication of institutional tools in the digital asset space. On April 24, Binance launched Fund Accounts, a tool commonly used by traditional asset managers and brokerage firms to consolidate client assets and streamline portfolio management. Binance said Fund Accounts allow portfolio managers to “consolidate externally-raised investor assets into one or multiple omnibus accounts,” which can reduce operational complexity and enable more efficient trading execution. Presumably, these omnibus accounts operate under a single custodian who executes trades on behalf of their clients. The new program is only available to eligible fund managers who must contact their Binance VIP representative for more information. A Binance spokesperson informed Cointelegraph that fund managers and their investors must pass Know Your Customer and Know Your Business requirements and be licensed or exempted in their jurisdictions to use the Fund Accounts product. Binance is the world’s largest crypto exchange by trading volume, according to CoinMarketCap data. In December, the exchange updated the requirements for its VIP program, which is geared toward institutional investors and private clients. Top crypto spot exchanges as of April 24 based on daily trading volume. Source: CoinMarketCap Related: Crypto Biz: Ripple’s ‘defining moment,’ Binance’s ongoing purge TradFi and crypto continue to merge Binance’s Fund Accounts is another example of traditional finance solutions merging with cryptocurrency, signaling growing institutional involvement. After spending the first decade of crypto largely on the sidelines, institutional investors are now entering the space, driven by the launch of Bitcoin exchange-traded funds (ETFs), the rise of real-world asset tokenization , and attractive yield opportunities in onchain lending. Blockchain companies are also working to bring institutional trading solutions to crypto-native users. On April 24, onchain trading infrastructure provider Theo announced it had raised $20 million to expand its institutional-grade trading platform aimed at serving retail investors. Seventeen investors participated in the funding round, including angel investors from Jane Street, JPMorgan and Citadel. Magazine: Altcoin season to hit in Q2? Mantra’s plan to win trust: Hodler’s Digest, April 13 – 19
Disclosure: This is an op-ed. The opinions expressed in this article are solely those of the author and do not reflect the views and opinions of The Defiant. On the surface, Ethereum may appear to have lagged behind some of its peers over the last few months, but in reality the birth chain of smart contracts and decentralized applications is getting ready to steal the spotlight. Don’t let the cheap memes cloud your vision — ETH ETFs’ just had their biggest day since February, bringing in $38.7M on April 22nd alone. Ethereum co-founder Vitalik Buterin also recently noted in an X post about Ethereum developments that so-called based rollups, a type of layer 2 scaling solution, were “making rapid progress.” Not to mention the potential of the fast approaching Pectra upgrade , slated for early May, to level up the network, including improved staking. To continue reading this as well as other DeFi and Web3 news, visit us at thedefiant.io
Bitcoin has gained significant momentum over the past week, surging 10% against the US dollar after a relatively quiet and often painful spring. After recently hitting two-month high, the world’s leading cryptocurrency appears to be setting its sights on a new all-time high, and this signals a potential new phase for the asset. Experts point to several factors contributing to Bitcoin’s resurgence. Bitcoin’s Decoupling Cycle According to CryptoQuant’s latest analysis , the weakening of the US dollar, which has historically shown an inverse correlation, is a factor. As the dollar drops, Bitcoin typically strengthens, a trend that seems to be playing out once again. Another potential catalyst for BTC’s rise is the ongoing geopolitical situation. Market uncertainties, particularly due to trade tariffs imposed by the Trump administration, have recently shown signs of de-escalation. Reports indicate that the tariffs, which have weighed on markets, could be moderated as political leverage shifts. In addition, talks surrounding a possible peace deal in Ukraine have sparked optimism. Should these negotiations result in a resolution, high-risk assets like cryptocurrencies could benefit significantly. Perhaps the most significant trend in Bitcoin’s performance is its decoupling from traditional markets. Over the past seven days, Bitcoin has notably separated from both the S&P 500 and Nasdaq Composite, indicating a weakening correlation with traditional stocks. The correlation coefficient with the S&P 500 has dropped from 0.88 in late 2024 to 0.77, while the Nasdaq correlation has fallen from 0.91 to 0.83 in the same period. Digital Gold Narrative Interestingly, Bitcoin’s relationship with gold has been strengthening. The correlation coefficient with gold has improved from -0.62 earlier this month to -0.31 currently. This suggests that Bitcoin may be increasingly viewed as a store of value similar to gold. Such a shift could signal that Bitcoin is emerging as “digital gold,” with gold potentially serving as a leading indicator for Bitcoin’s price movements in the near future. The post Bitcoin (BTC) Shows Resilience as It Strengthens and Decouples from Stock Markets appeared first on CryptoPotato .
If you’re paying attention to crypto social media, it’s hard not to see an Ethereum in crisis. Criticism of the Ethereum Foundation’s leadership, and even co-founder and chief scientist Vitalik Buterin himself, runs rampant. After growing pressure born out of ETH’s underperformance against other cryptocurrencies and the broader market, Ethereum is shifting its strategy. Specifically, the result has been a change in leadership at the Ethereum Foundation, which has two new co-executive directors, a council of community members to advise the EF, a new Ethereum marketing arm, and a new, simpler roadmap refocused on scaling the Layer 1. To continue reading this as well as other DeFi and Web3 news, visit us at thedefiant.io