Bitcoin steadied above the $100,000 mark on Friday, buoyed by renewed investor optimism following a trade agreement between the US and UK . The world’s largest cryptocurrency hovered near $102,000, as traders welcomed signs of easing global trade tensions. The rally gained momentum after US President Donald Trump and British Prime Minister Keir Starmer announced what they described as a “breakthrough deal” on Thursday. The agreement maintains a 10% tariff on British goods entering the US but includes a reduction in UK tariffs on American imports from 5.1% to 1.8%. Analysts interpreted the move as a signal that Trump may be ready to backtrack on some of the aggressive trade measures that have rattled global markets since his return to the White House earlier this year. JUST IN: $BTC reclaims $100K. Will it test $105K by this week? pic.twitter.com/l8LnUyKbyA — CoinGecko (@coingecko) May 8, 2025 Trump’s Trade Softening Boosts Bitcoin, ETH, XRP and SOL This is the first formal agreement since Trump began imposing tariffs in February, launching what many described as a fresh round of trade hostilities. However, the administration’s recent 90-day pause on new tariffs, aimed at opening room for negotiations, has created optimism among investors hoping for further deals. Bitcoin was not alone in its climb. Ether jumped 16.4% to $2,218, while XRP rose 6.3% to$2.31. Solana also posted a 7.3% gain, trading at $162.07. Analysts attributed the broader crypto rally to both macroeconomic tailwinds and increasing institutional involvement. Bitcoin Still Holds Bullish Trajectory With Geopolitical Risks Looming Standard Chartered’s Geoffrey Kendrick said risk sentiment no longer drives Bitcoin’s price . “It is now all about flows, and flows are coming in many forms,” he said, pointing to strong buying from institutional players and inflows into spot Bitcoin ETFs. Kendrick added that his earlier target of $120,000 for the second quarter may have underestimated Bitcoin’s momentum. Other experts pointed to the Federal Reserve’s recent decision to hold interest rates steady. James Toledano, chief operating officer of Unity Wallet, said the move has pushed investors to look for alternative assets in an uncertain economic landscape, with Bitcoin being “attractive.” Toledano also noted that the US-UK deal has strengthened confidence across global markets. “The sense is that if President Trump is doing a deal with the UK then this will be rolled out to others soon,” he said. “But this certainly gives us reason for optimism which will foster a risk-on environment that benefits assets like Bitcoin.” While the outlook has improved, risks remain. Ongoing geopolitical tensions, including the recent flare-up between India and Pakistan, could still weigh on market sentiment. For now, however, Bitcoin’s return to six figures has renewed bullish expectations across the digital asset space. The post Bitcoin Holds Ground at $102K; XRP, ETH, SOL Push Higher After Trump-UK Trade Boost appeared first on Cryptonews .
In a recent statement on X, Binance founder CZ emphasized the critical importance of understanding the underlying principles of Bitcoin investment. He articulated that many investors struggle to hodl due
The hammer has fallen in a high-profile case shaking the cryptocurrency world. Alex Mashinsky, the former chief executive officer of the now-bankrupt crypto lending platform Celsius Network, has been sentenced to a significant prison term. This development marks a critical moment for accountability in the digital asset space and brings some closure, albeit painful, to the thousands of investors impacted by Celsius’s dramatic collapse. What Led to the Alex Mashinsky Sentencing? The journey to the Alex Mashinsky sentencing is a story of rapid ascent followed by a precipitous fall. Celsius Network positioned itself as a revolutionary platform offering high yields on cryptocurrency deposits, promising users the ability to ‘unbank yourself’. Mashinsky was the public face of this vision, charismatic and highly visible, often appearing in interviews and online, promoting the platform and its services. However, beneath the surface, prosecutors alleged a pattern of deception. The core accusations centered on Mashinsky misleading investors about the financial health and business practices of Celsius Network. Specifically, the U.S. Department of Justice (DoJ) charged him with: Wire fraud Commodities fraud Securities fraud Conspiracy to commit wire fraud, commodities fraud, and securities fraud These charges stemmed from allegations that Mashinsky and other Celsius executives made false and misleading statements about the safety of customer assets, the profitability of the company, and the risks associated with its lending and investment strategies. They were accused of manipulating the price of Celsius’s native token, CEL, and engaging in risky investments with customer funds without disclosing the full extent of the danger. The Rise and Fall of Celsius Network To understand the gravity of the situation, it’s essential to look at the trajectory of Celsius Network . Launched in 2017, Celsius quickly grew into one of the largest crypto lending platforms. It attracted millions of users by offering attractive yields on deposited cryptocurrencies, far exceeding traditional savings accounts. At its peak, Celsius managed billions of dollars in customer assets. The business model relied on taking customer deposits and lending them out to institutional borrowers or engaging in decentralized finance (DeFi) protocols to generate yield. The promise was that a significant portion of this generated revenue would be returned to depositors in the form of high interest rates. However, this model faced significant challenges: Market Volatility: The crypto market is inherently volatile, making high-yield strategies risky. Counterparty Risk: Lending to institutions or participating in DeFi exposed Celsius to the risk of borrowers defaulting or protocols failing. Liquidity Crunch: As crypto prices plummeted in early 2022, combined with withdrawals, Celsius faced a liquidity crisis, unable to meet withdrawal demands. Lack of Transparency: Critics argued that Celsius was not fully transparent about its investment strategies and the risks involved. In June 2022, facing severe financial distress, Celsius froze customer withdrawals, citing “extreme market conditions.” This move effectively locked users out of their funds, leading to widespread panic and anger among its global user base. A month later, in July 2022, Celsius Network filed for Chapter 11 bankruptcy protection, leaving hundreds of thousands of customers in limbo, uncertain if they would ever recover their deposited assets. Navigating the Complexities of Crypto Fraud The charges against Mashinsky highlight the growing challenge of combating Crypto fraud . The decentralized and often pseudonymous nature of cryptocurrency, combined with the rapid pace of innovation and a lack of clear regulatory frameworks in many jurisdictions, creates fertile ground for fraudulent schemes. Cases like Celsius involve complex financial maneuvers across various blockchains and platforms, making investigations challenging. Proving intent to defraud requires meticulous tracing of funds and analysis of communications and financial records. The legal proceedings often break new ground as courts grapple with applying existing laws to novel digital assets and business models. Key elements often seen in crypto fraud cases include: Misleading marketing and promises of unrealistically high returns. Lack of transparency regarding how customer funds are used and the risks involved. Manipulation of token prices or trading volumes. Using new investor funds to pay off earlier investors (Ponzi-like schemes). Operating without proper licenses or regulatory compliance. The Mashinsky case serves as a stark reminder that even seemingly legitimate and large-scale operations in the crypto space are not immune to allegations of fraud and subsequent legal consequences. The Battle Over Sentencing: 20 Years vs. 1 Year During the legal process, the disparity between the prosecution’s demand and the defense’s argument for the Alex Mashinsky prison sentence was significant. The U.S. Department of Justice sought a lengthy sentence of 20 years, arguing that Mashinsky’s actions caused immense financial harm to a large number of victims and that a severe penalty was necessary for deterrence and punishment. The defense, on the other hand, argued for a much lighter sentence, suggesting a maximum of one year. They likely presented arguments related to Mashinsky’s character, lack of prior offenses, potential remorse (if any was expressed), and perhaps mitigating circumstances surrounding the market collapse. They might have argued that the bankruptcy was primarily a result of market forces rather than deliberate fraudulent intent. Here’s a simplified comparison of the positions: Party Requested Sentence Argument Basis U.S. Department of Justice 20 years Severity of fraud, number of victims, financial harm, deterrence Defense Team Maximum 1 year Mitigating factors, character, potential market factors, alleged lack of intent (likely) U.S. Court 12 years Consideration of evidence, sentencing guidelines, arguments from both sides The court ultimately settled on a 12-year sentence, indicating that while not accepting the DoJ’s full request, it found the actions serious enough to warrant a substantial prison term, rejecting the defense’s plea for a minimal sentence. What Does This Mean for Celsius Bankruptcy Creditors? The Celsius bankruptcy process has been long and arduous for those who had funds on the platform. The sentencing of Alex Mashinsky, while a significant legal outcome, does not automatically mean creditors will recover all their lost funds. The bankruptcy proceedings are separate, focusing on the distribution of remaining assets to creditors. However, a finding of fraud and the subsequent sentencing can potentially impact the bankruptcy process in several ways: Asset Recovery: Legal actions related to fraud might uncover assets that could be used to repay creditors. Claims Priority: While complex, findings of fraud can sometimes influence how claims are prioritized in bankruptcy. Civil Litigation: The criminal conviction could strengthen the position of creditors pursuing civil lawsuits against Mashinsky or other parties involved. Closure: For many victims, the sentencing provides a sense of justice and accountability, even if financial recovery is incomplete. Creditors have been following the bankruptcy process closely, hoping for the return of at least a portion of their crypto assets. The outcome of the legal case against Mashinsky is a piece of the larger puzzle, reinforcing the narrative of mismanagement and alleged deception that led to the platform’s downfall. Lessons Learned from the Celsius Collapse and Mashinsky Case The Celsius saga and the resulting Alex Mashinsky prison sentence offer several critical lessons for anyone involved in the cryptocurrency space: For Investors: Do Your Own Research (DYOR): Don’t rely solely on marketing or promises of high returns. Understand the underlying business model and risks. Assess Risk: High yields often come with high risk. Be skeptical of promises that seem too good to be true. Understand Custody: When you deposit crypto on a platform, you often give up direct control. Understand the terms of service and who holds the keys to your assets. Diversify: Don’t put all your funds into one platform or asset. Regulatory Awareness: Understand the regulatory status of the platform you are using and the protections (or lack thereof) available to you. For Crypto Companies: Transparency is Key: Be clear and honest about your business practices, risks, and financial health. Prioritize Risk Management: Implement robust risk management strategies, especially when dealing with volatile assets and leverage. Compliance Matters: Navigate the complex and evolving regulatory landscape diligently. Responsible Marketing: Avoid making misleading claims or guaranteeing returns. The case underscores the increasing scrutiny from regulators and law enforcement on the crypto industry. As the market matures, there is a growing demand for accountability and investor protection. Conclusion: A Landmark Case in Crypto Regulation The sentencing of Alex Mashinsky to 12 years in prison is a landmark event. It sends a strong message that individuals at the helm of cryptocurrency companies can and will be held accountable for fraudulent conduct that harms investors. While it doesn’t erase the losses suffered by Celsius users, it represents a significant step in the ongoing efforts by authorities to police the crypto market and protect consumers. The case serves as a somber reminder of the risks inherent in the unregulated or under-regulated corners of the crypto world and highlights the importance of due diligence for investors. As the industry continues to evolve, the legal precedents set by cases like this will play a crucial role in shaping its future and fostering greater trust and stability. To learn more about the latest crypto market trends, explore our article on key developments shaping cryptocurrency regulation and institutional adoption.
In May 2025, XRP, SHIBA INU (SHIB), and SUI are dominating headlines — and for good reason. XRP is holding strong around $2.20, backed by ETF optimism and market-wide institutional support. SHIBA INU has seen a surge in on-chain activity and token burns, keeping it relevant despite being far from its all-time high. Meanwhile, SUI has emerged as one of the top-performing Layer-1s, with DeFi adoption and bullish technicals pushing it near the $3.50 range. But while those assets continue to perform, many investors are now rotating capital into a new opportunity that offers something the majors currently don’t: early entry at a high-upside stage . That opportunity is MAGACOINFINANCE . CLICK HERE – TIME IS RUNNING OUT Why Are Traders Moving to MAGACOINFINANCE? The answer lies in timing, demand, and narrative . MAGACOINFINANCE is currently in the middle of a rapidly moving token sale , with multiple stages already sold out in quick succession. Each new phase has brought in more participants, and the pace is accelerating. Unlike XRP, SHIB, or SUI — which are already widely traded and heavily held — MAGACOINFINANCE offers investors a chance to get in before major listings , when the playing field is still level. It’s this positioning that’s drawing attention from seasoned traders looking to secure their spot before the rest of the market catches on. Strong Demand and Big Potential at This Stage The structure of the sale , the pace of capital inflow , and the clear message behind the project are driving consistent engagement. As each stage closes, the price adjusts, meaning early participants are being rewarded for moving first. With investor demand increasing every day , it’s becoming clearer that this current phase offers one of the strongest entry points before wider exposure hits. And with new features, partnerships, and listings in the pipeline, many believe now is the moment to act not after everyone else is already talking about it. LIMITED TIME OFFER-GET 50% EXTRA BONUS WITH MAGA50X The Takeaway While XRP, SHIBA INU, and SUI continue to hold investor attention, the smart money is already exploring the next breakout opportunity. With its fast-selling token sale and strong market interest , MAGACOINFINANCE is quickly becoming the token to watch — and for many, the one to buy before it becomes the headline . To learn more about MAGACOINFINANCE, please visit: Website: https://magacoinfinance.com Twitter/X: https://x.com/magacoinfinance Continue Reading: XRP, SHIBA INU, and SUI Traders Are Betting on Something New — MAGACOINFINANCE Is Steadily Becoming the Go-To Pick
On May 9th, COINOTAG News reported insights from LD Capital founder Jack Yi, who expressed a resolutely bullish outlook on Ethereum (ETH) priced at $1,700. Yi highlighted several key factors
Coinbase Global Inc. has agreed to acquire Deribit, the world's largest trading platform for bitcoin and ether options, in a deal valued at $2.9 billion. The acquisition, which includes $700 million in cash and 11 million shares of Coinbase Class A common stock, aims to expand Coinbase's presence in the crypto derivatives market. Deribit, founded in 2016, offers options, futures, and spot trading, and holds an 80% market share in crypto options. The deal is set to be announced on Thursday, according to executives cited by the Wall Street Journal. This acquisition positions Coinbase as the number one crypto derivatives platform by open interest and options volume, complementing its existing strengths in spot and futures trading. The transaction is pending regulatory approval. To continue reading this as well as other DeFi and Web3 news, visit us at thedefiant.io
In the fast-paced world of technology and finance, where innovation often intertwines with significant challenges, a notable development is capturing attention. Sankaet Pathak , known for his previous role as Synapse CEO , is reportedly embarking on a new, ambitious venture, aiming to raise substantial funding for his latest project in the cutting-edge field of Humanoid Robotics . This move comes shortly after the widely reported issues surrounding his former company. From Fintech Challenges to Robotics Ambition: The Path of Sankaet Pathak Sankaet Pathak’s name is familiar to many in the fintech and crypto space, primarily due to his leadership at Synapse. Unfortunately, Synapse faced significant difficulties, culminating in a bankruptcy filing in 2024. These issues were linked to problems with partner Evolve Bank & Trust and left tens of millions of dollars in consumer deposits, largely from fintech customers using Synapse’s services, currently unaccounted for. Despite this challenging backdrop, reports suggest Pathak is not slowing down. He is reportedly actively pursuing funding for his new company, Foundation, a Robotics Startup focused on developing humanoid robots. This transition from fintech infrastructure to advanced physical robotics marks a significant pivot in his entrepreneurial journey. Foundation Robotics: Aiming for a $1 Billion Valuation According to reports from The Information, Foundation is currently seeking to raise a substantial $100 million. What makes this fundraising effort particularly noteworthy is the reported target valuation of $1 billion. This valuation target appears highly ambitious, especially considering the relatively early stage of the company. Foundation only recently introduced its first humanoid robot prototype, named Phantom, earlier this year. Furthermore, the company’s last known funding round was a pre-seed round in August of the previous year, securing $11 million from investors including Tribe Capital and several angel investors. Aiming for a tenfold increase in funding and a valuation approaching unicorn status so quickly after a pre-seed round and prototype debut highlights the bold nature of this new venture. What is Foundation Robotics Building? Foundation’s stated mission is to “create advanced humanoid robots that can operate in complex environments.” The company aims to leverage Humanoid Robotics technology to address pressing global issues, specifically focusing on the labor shortage across various industries. By developing robots capable of performing tasks currently done by humans, Foundation hopes to provide a solution to workforce challenges. The focus on creating robots that can navigate and work within complex, unstructured environments is a significant technical challenge in the robotics field. Success in this area could open up numerous applications for Foundation’s technology. The Contrast: Synapse’s Struggles vs. Foundation’s Ambition The reported fundraising efforts for Foundation occur while the situation with Synapse and the missing customer funds remains unresolved. This stark contrast between the past difficulties and the current ambitious pursuit of significant capital for a new Robotics Startup raises questions and is likely to be a point of discussion within the tech and investment communities. For those interested in the intersection of technology, finance, and the future of labor, Foundation Robotics represents an intriguing development. The success or challenges faced by this new venture, led by the former Synapse CEO , will undoubtedly be closely watched. Bitcoin World has reportedly reached out to Sankaet Pathak for comment on these developments, indicating the level of interest this story has generated. In conclusion, Sankaet Pathak, the former head of Synapse, is reportedly pushing forward with significant fundraising plans for his new Humanoid Robotics company, Foundation. Aiming for $100 million at a $1 billion valuation, the Robotics Startup is focused on building advanced robots to tackle labor shortages, presenting a bold new chapter following the challenging period at Synapse. To learn more about the latest AI market trends, explore our article on key developments shaping AI features.
Steak ‘n Shake recently announced its decision to accept Bitcoin, marking a significant step towards mainstream crypto adoption in the fast-food industry. This bold move signals a growing trend among
Matt Hougan, Chief Investment Officer at Bitwise Asset Management, believes crypto exchange Coinbase (Nasdaq: COIN) will be a $1 trillion company in the future, following its acquisition of Deribit. In a statement on X, Hougan signaled strong confidence in Coinbase’s strategic direction, stating: “This is an insanely great acquisition. Coinbase is going to be a
In the fast-evolving world of technology, where artificial intelligence breakthroughs often ripple across industries, including the blockchain and crypto space, leadership changes at major tech giants like Meta are significant. A recent development highlights Meta’s strategic focus on strengthening its core AI capabilities. Meta has reportedly appointed a former Google DeepMind director to head one of its key research divisions. Who is Robert Fergus and Why Does This Matter? According to Bloomberg, Meta has selected Robert Fergus to take the helm of its Fundamental AI Research (FAIR) lab. This move is particularly noteworthy given Fergus’s background. His LinkedIn profile indicates he spent nearly five years as a research director at Google DeepMind, a leading force in AI innovation. Prior to his tenure at Google, Fergus also held a research scientist position at Meta, making this a return to the company. His return to lead FAIR suggests Meta is leveraging experienced talent with deep roots in both its own AI history and external top-tier research environments like Google DeepMind . This appointment comes at a crucial time for Meta’s AI research efforts. Challenges and the Future of FAIR Lab Meta’s FAIR lab, established in 2013, has been instrumental in the company’s early AI model development, including foundational work on Llama 1 and Llama 2. However, recent reports, including one from Fortune, indicate that the FAIR lab has faced challenges. Specifically, there have been significant departures of researchers, with many moving to other companies, startups, or even Meta’s newer internal GenAI group, which notably led the development of Llama 4. This leadership change also follows the departure of Meta’s previous VP of AI Research, Joelle Pineau, who announced her exit in April for a new opportunity. The appointment of Robert Fergus appears to be a direct response to these shifts, aiming to inject new leadership and potentially revitalize the FAIR lab ‘s position within Meta’s broader AI strategy. Bringing in a leader with extensive experience from Google DeepMind could signal Meta’s intent to double down on fundamental AI research, potentially fostering new breakthroughs that could underpin future models beyond the current Llama series. The success of FAIR under Fergus’s leadership will be crucial for Meta’s long-term competitiveness in the intense AI race. What Does This Mean for Meta’s AI Strategy? The decision to bring Robert Fergus back to lead the FAIR lab underscores Meta’s commitment to foundational AI research despite the rise of more application-focused groups like GenAI. It suggests a recognition that cutting-edge future AI capabilities require continued investment in core research principles. Key implications of this appointment could include: A potential shift in research direction or priorities within FAIR. Renewed efforts to attract and retain top AI talent. Increased collaboration or healthy competition between the FAIR lab and the GenAI group. Influence on the development trajectory of future Llama models and other Meta Meta AI initiatives. The integration of experience from a powerhouse like Google DeepMind into Meta’s core research could lead to exciting new directions in AI development, potentially impacting everything from social media algorithms to virtual reality environments and beyond. Conclusion: A Critical Juncture for Meta AI The appointment of Robert Fergus to lead the FAIR lab marks a critical moment for Meta’s AI research division. Facing internal and external talent pressures, Meta is entrusting a seasoned veteran with experience from both its own history and a top competitor like Google DeepMind to guide its foundational AI efforts. How Fergus navigates the challenges and leverages his expertise will likely shape the future of Meta’s AI capabilities and influence the broader AI landscape for years to come. To learn more about the latest AI research trends, explore our article on key developments shaping AI features.