A US federal court has ordered the freezing of approximately $57.65 million in USDC linked to the embattled LIBRA meme coin. The latest development is a significant move in an ongoing class-action lawsuit targeting alleged fraud. The freeze, executed on May 28 via a Temporary Restraining Order (TRO) issued by the Southern District of New York, affects two Solana-based wallets tied to Kelsier Ventures – the firm behind LIBRA’s controversial launch. The legal action was initiated by Burwick Law, representing investors who claim they were misled by LIBRA’s promoters. The lawsuit, filed on March 17, names Kelsier’s co-founders Gideon, Thomas, and Hayden Davis, as well as Julian Peh of KIP Protocol and Benjamin Chow of Meteora. Plaintiffs allege the team orchestrated a deceptive scheme that lured retail investors into one-sided liquidity pools, only to drain over $100 million in value through coordinated token dumps. LIBRA briefly surged to a $4 billion market cap in February, following a public endorsement by Argentine President Javier Milei. The rally, however, was short-lived. Within hours, the token plummeted over 90%, triggering investor panic and political fallout in Argentina. Milei later deleted his social media posts and on May 19, dissolved the national task force that had been set up to probe the incident. According to on-chain data, the two wallets, containing over $44 million and $13 million , respectively, were frozen through Circle’s infrastructure following the court’s order. A hearing on June 9 will determine whether the freeze remains in place as the case unfolds. The ruling could set an important precedent for asset protection in crypto-related lawsuits and signal stricter oversight for hype-driven token launches going forward. The post LIBRA Token Fallout: Court Blocks $57.65M in USDC Linked to Kelsier Ventures appeared first on CryptoPotato .
DeFi Development Corp. has become the first publicly traded company to adopt Solana-based liquid staking tokens (LSTs), integrating Sanctum’s technology to enhance its SOL treasury management and validator operations. Sanctum Partnership Sees DeFi Dev Corp. Embrace Solana LSTs DeFi Development Corp. (Nasdaq: DFDV) has announced the adoption of liquid staking token (LST) technology, marking a
Pakistan is making significant strides in the crypto space with plans to establish a Strategic Bitcoin Reserve (SBR), aiming to secure its future in digital assets. Pakistan unveiled plans to
According to the court filing, the SEC has dropped the lawsuit against Binance. This news is a hot development, details will be added shortly. *This is not investment advice. Continue Reading: BREAKING: SEC Drops Lawsuit Against Binance – Here Are the Details
SKI appeared to have reached a critical trading level after two weeks of retracement. The next major move looks indecisive as the price now sits at a crucial support line. A sudden surge should be expected soon! Following the recent price recovery, SKI is still looking bullish on the daily chart. Although it has taken a slight break in the rally following a noticeable drawdown from around the $0.12 level two weeks ago. Looking at the price action, the drawdown looks more like a retracement phase of the previous impulsive move. As we can see on the daily chart, it appears to have reached a critical trading level while testing a rising trendline, which has been serving as dynamic support since April. However, due to a serious drop in volatility over the past days, it traded indecisively with little-to-no movement since the start of the week. A break below this trendline could invalidate the existing bullish trend in the form of higher high and higher low patterns. If such a scenario comes into play, we may see a roll back to the recent bottom tested last month. Rebounding from this crucial support trendline could reinforce more buy actions capable of bringing the bulls back on track. Currently, there are no signs of a major move in the market due to lack of interest. SKI’s Key Levels To Watch Source: Tradingview If the price breaks lower from the current trading level, SKI will most likely navigate the monthly $0.46 low for support. More dips could slip the price through $0.035 before revisiting the bottom level of $0.0245. For a rebound, it must reclaim $0.09, along with the monthly $0.119 resistance before rallying hard to the $0.245 level. Failure to reject this level could advance buying to the $0.45 level. Key Resistance Levels: $0.09, $0.119, $0.245 Key Support Levels: $0.046, $0.035, $0.0245 Spot Price: $0.074 Trend: Bullish Volatility: Low Disclosure: This is not trading or investment advice. Always do your research before buying any cryptocurrency or investing in any services. Follow us on Twitter @nulltxnews to stay updated with the latest Crypto, NFT, AI, Cybersecurity, Distributed Computing, and Metaverse news !
Bitcoin continues to dominate headlines after smashing through a new all-time high of $112,000 last week, reinforcing bullish sentiment across the crypto markets . Yet, despite the hype, on-chain data from CryptoQuant suggests traders should tread with caution—a cooling period may be on the horizon. Bull Score Index Points to Bull Market Continuation According to CryptoQuant , Bitcoin remains solidly in bull market territory. The Bull Score Index—a key measure of on-chain activity—currently stands at 80. Historically, this index has reliably indicated that Bitcoin continues to trend upwards as long as it remains above 50. This strong score reflects robust participation from retail and institutional investors, further fueled by macro tailwinds and increasing global adoption. The market’s optimism is backed by substantial demand: in the past 30 days alone, Bitcoin demand grew by an estimated 229,000 BTC. While this is still under the 279,000 BTC peak seen in December 2024, it’s getting close—a potential indicator that the current buying frenzy might be losing steam. Whale Accumulation Slows, Demand Nears Historical Top Though investor enthusiasm is still evident, there are early signs that the rally could be approaching a plateau. Whale-held Bitcoin balances have climbed 2.8% in the last month—a pace that has historically preceded a slowdown in large-scale accumulation. With buying activity nearing levels associated with local tops, Bitcoin may enter a period of consolidation. CryptoQuant’s data implies that while the bull market isn’t over, the current growth rate may not be sustainable without a short-term correction or pause. Traders’ Profit Margins Hint at Imminent Resistance Another key metric to watch is the Trader’s Unrealized Profit Margin, which rose to 32% last week. When this figure nears 40%, or drops below its 30-day moving average—currently at 19%—price momentum often weakens. If Bitcoin does maintain its upward trajectory, $120K could act as the next major resistance. This level coincides with the upper band of the On-chain Traders’ Realized Price—a historical ceiling during past bull runs. In short, while the broader outlook remains bullish, CryptoQuant’s indicators suggest caution. As Bitcoin scales new heights, savvy investors should watch the metrics closely—the next few weeks could determine whether this rally continues or cools off. The post Bitcoin Powers to $112K, But On-Chain Metrics Warn of Potential Pause: CryptoQuant appeared first on Cryptonews .
Emily Mason takes a look at a new risk to the traditional banking industry as stablecoin legislation progresses in Congress.
Ethereum is showing signs of renewed strength as it continues to trade above the $2,700 level, reaching as high as $2,790 in recent hours. The price action has energized the market, with many analysts now calling for a major breakout that could not only lift ETH further but also trigger the long-awaited altseason. Related Reading: Altseason Loading? Analyst Explains How FTX $5B Distribution May Trigger The Next Bull Leg While Bitcoin has led the rally for most of the year, Ethereum appears to be catching up. According to top analyst Daan, the ETH spot premium remains firm, signaling sustained demand even in the absence of ETF-level inflows. “It doesn’t have as many ETF inflows as BTC does,” Daan noted. This relative strength, combined with growing optimism around altcoins, is fueling speculation that Ethereum could soon test—and possibly break—critical resistance levels. With sentiment turning bullish across the market and ETH gaining momentum, all eyes are now on whether it can push past key resistance and lead the charge into a broader altcoin breakout. The coming days could prove pivotal as Ethereum sets the tone for the next phase of crypto market expansion. Ethereum Tests Critical Resistance As It Faces A Pivotal Moment Ethereum is now confronting what many analysts consider the most important resistance level of the current cycle. The zone between $2,700 and $2,800 has become the battleground for ETH’s next major move. A successful breakout could trigger a run toward all-time highs, while rejection may lead to a healthy—but deeper—retracement. Global macro conditions are adding weight to this moment. Rising U.S. Treasury yields and persistent inflation continue to rattle traditional markets, increasing systemic stress. Yet, in this uncertain environment, Ethereum and Bitcoin have shown resilience, suggesting that investors are increasingly viewing them as alternatives or hedges against traditional financial risks. Daan shared insights reinforcing this bullish outlook. According to his analysis, the ETH spot premium remains firm despite lacking the ETF-driven inflows seen with Bitcoin. ETH doesn’t require as much inflow relative to its market cap to sustain bullish momentum. However, the $2,800 level remains a significant barrier. It represents a key inflection point for Ethereum’s price action and overall market sentiment. The coming days are crucial, as Ethereum’s ability to either break above or get rejected at this resistance could shape the altcoin market’s direction for the rest of the quarter. Related Reading: Dogecoin Flashes Buy Signal – Key Indicator Hints At Rebound ETH Price Analysis: Testing Key Liquidity Levels Ethereum is currently trading at $2,731 on the 4-hour chart, showing strong bullish momentum as it tests the key $2,800 resistance level. After weeks of consolidation between $2,500 and $2,700, ETH has broken out with conviction, riding higher moving averages and increased volume. The 34 EMA at $2,622 and the 50 SMA at $2,598 continue to act as dynamic support, confirming the strength of the uptrend. This breakout attempt follows a long period of compression, where ETH built a base of higher lows. Price has now surged to challenge a major resistance zone that has historically capped upward momentum. If bulls manage to flip this level into support, it could open the door to a sharp move toward $3,000 and higher. Related Reading: Solana Funding Rates Turn Negative – Early Sign Of Selling Pressure? Volume has picked up on the most recent push, a positive sign that buyers are stepping in with more confidence. Still, traders should watch closely for potential rejection or profit-taking at this key zone. If Ethereum fails to break and hold above $2,800, a short-term pullback toward the 34 EMA could follow. Featured image from Dall-E, chart from TradingView
Here's what you should know about Pakistan crypto and Bitcoin plans.