JPMorgan predicts a stablecoin market worth 500 billion dollars by 2028. Contrastingly, Standard Chartered sees potential for 2 trillion dollars if regulations pass. Continue Reading: The Stablecoin Market’s Cautious Growth Projections Diverge at JPMorgan The post The Stablecoin Market’s Cautious Growth Projections Diverge at JPMorgan appeared first on COINTURK NEWS .
FTX is seeking court approval to dispute claims from 49 restricted jurisdictions, with Chinese users accounting for 82% of the total value, despite constituting only 5% of the allowed claims in these territories. The move creates a new hurdle for creditors in countries where crypto trading is subject to legal restrictions or where FTX lacked proper distribution licenses. According to Sunil , a FTX Creditor Activist, the FTX Recovery Trust plans to treat claims from potentially restricted foreign jurisdictions as disputed until legal opinions determine the feasibility of distribution. FTX: Restricted countries Disputed claims 49 Jurisdictions -5% allowed claims in restricted countries 82% of value in China Due to local laws that 1) crypto currency trading is not permitted or 2) distributors not allowed pic.twitter.com/wCEfAOFyaD — Sunil (FTX Creditor Champion) (@sunil_trades) July 3, 2025 Countries on the restricted list include China, Russia, Iran, North Korea, and 45 other nations where local laws either prohibit crypto trading or where FTX operated without proper licensing. Under the proposed framework, affected creditors will receive 45-day notice periods to object to their jurisdiction’s restricted status. Those who fail to respond within the deadline will forfeit their distribution rights entirely. Source: Sunil on X The Trust must file sworn statements waiving service of process and submitting to court jurisdiction for any objections. The development threatens to delay or eliminate payouts for thousands of creditors who have already waited over two years since FTX’s collapse in November 2022. The exchange has distributed $6.2 billion across two major payment rounds, with the latest $5 billion distribution reaching eligible creditors in May 2025 . Chinese Creditors Face Legal Hurdles Despite Regulatory Clarity Chinese creditors are mobilizing legal challenges against the restricted jurisdiction designation, arguing that mainland China recognizes the commodity attributes of cryptocurrency and permits its residents to hold digital assets. One creditor contacted a New York lawyer to raise objections at every procedural stage. “ While mainland China does not support cryptocurrency trading, residents of mainland China are allowed to hold cryptocurrencies ,” the creditor stated. “ The law recognizes the commodity attributes of virtual currencies. “ The claims process uses USD for settlement, and Chinese residents can legally hold USD overseas despite foreign exchange controls limiting annual USD receipts. I’ve already contacted my lawyer in New York and am waiting for her response. I will definitely take action and will raise objections at every stage. I also hope more people will step up. We can’t just sit and wait—this is absolutely unreasonable. While mainland China does not… — Will的折腾纪 (@zhetengji) July 3, 2025 The FTX user further questions why wire transfer settlements aren’t supported given these legal frameworks. FTX’s restricted jurisdiction list encompasses Afghanistan, Algeria, Belarus, Cambodia, Egypt, Libya, Myanmar, Pakistan, Syria, and Zimbabwe, among others. The Trust argues local laws create compliance risks that justify the disputed claim treatment. With this new development, creditors in these jurisdictions must demonstrate legal standing through sworn affidavits and subject themselves to the jurisdiction of U.S. courts. The process requires significant legal resources that many individual creditors cannot afford. Ongoing Distribution Challenges Complicate Recovery Process FTX has distributed funds through two major rounds since beginning payouts in February 2025. The first distribution totaled $1.2 billion for convenience class creditors with claims under $50,000, while the second distribution reached $5 billion for larger claimants. FTX has announced that distribution of payments will resume on May 30, 2025. #FTX #FTXDistribution https://t.co/hnNZWkyMiE — Cryptonews.com (@cryptonews) May 15, 2025 Dotcom Customer Entitlement Claims received 72% distributions , while US Customer Entitlement Claims received 54% payouts. General Unsecured Claims and Digital Asset Loan Claims both received 61% distributions. Convenience Claims received full 120% reimbursement, including 9% annual interest. Moreover, the exchange added Payoneer as a third official distributor alongside BitGo and Kraken to expand payment accessibility across 93 jurisdictions. However, creditors in restricted territories remain excluded from these distribution channels. In a development surrounding the collapse of the crypto exchange, FTX lawyers successfully defended against Three Arrows Capital’s $1.5 billion claim , arguing the hedge fund’s losses resulted from failed trading strategies rather than improper liquidations. @FTX_Official ’s legal team is pushing back against a $1.5 billion claim from defunct hedge fund Three Arrows Capital (3AC), calling it baseless. #FTX #3AC https://t.co/WBTcGD1NEJ — Cryptonews.com (@cryptonews) June 23, 2025 The court filing dismissed 3AC’s claim as “baseless and rooted in the firm’s own trading missteps.” Sam Bankman-Fried, the former CEO of FTX, remains imprisoned until December 2044 after receiving a 25-year sentence for fraud charges . He was recently moved to an Oklahoma transfer facility following solitary confinement for an unauthorized interview. However, for accomplices like Basketball legend Shaquille O’Neal, who settled his FTX promotional lawsuit for $1.8 million , becoming the first celebrity to finalize litigation tied to the exchange’s collapse. Other celebrity endorsers, including Tom Brady and Kevin O’Leary, face ongoing legal challenges. The post FTX Seeks Court Approval for Restricted Jurisdiction Claims as 82% of Value Comes from Chinese Users appeared first on Cryptonews .
FTX has announced its intention to permanently withhold payments to creditors across 49 jurisdictions, intensifying concerns within the crypto finance sector. This strategic decision underscores the complexities surrounding the exchange’s
Binance Futures, one of the leading platforms in the crypto derivatives markets, continues to expand its trading range. Binance Futures Launches BULLAUSDT and IDOLUSDT Perpetual Futures The exchange announced that it will launch USDⓈ-margined perpetual futures contracts on the BULLAUSDT and IDOLUSDT trading pairs in an effort to enhance user experience. The starting dates of the new futures contracts are as follows: BULLAUSDT Perpetual Futures Contract: As of July 4, 2025, 12:00, it will be traded with a maximum leverage of 50x. IDOLUSDT Perpetual Futures Contract: Will be offered as of July 4, 2025, 12:15, again with a maximum leverage of 50x. Both tokens BULLA and IDOL were previously listed on Binance Alpha Market. Binance stated that these new contracts will also be included in the Futures Copy Trading feature within 24 hours. With this feature, users will be able to trade by following the trades of experienced traders one-on-one. The initial maximum funding rate for new contracts is +2.00% / -2.00%. Funding fees will be collected every four hours. Binance warns that these products may have high volatility and recommends users to trade with caution. *This is not investment advice. Continue Reading: Binance Futures Announces Listing of Two Altcoin Trading Pairs with Up to 50x Leverage! Here Are the Details
The global digital assets market recorded a minor pullback on Friday as Bitcoin was unable to hold the $109K mark. Amid this drawdown, on-chain data shows that two resting BTC whale wallets woke up and chose to move around 20,000 Bitcoin (approx. $2.18 billion). Bitcoin price is now up by 89% over the past year. This move comes in when US lawmakers prepare for a landmark legislative blitz, “Crypto Week.” The event is scheduled for July 14–18, when the House is set to review and potentially pass three key bills that could reshape the American crypto landscape. Dormant Bitcoin wallets move $2.18b+ As per the data shared by Lookonchain, one wallet (12tLs9c9Rs) first bought 10,000 BTC for a mere $7,805 back in April 2011 when Bitcoin was trading at $0.78, and moved its holding just a few hours ago. Now, that same haul is worth over $1 billion. Just moments later, a second wallet (1KbrSKrT3Ge) was caught moving another 10,000 BTC, bringing the total to $2.18 billion moved in a single morning. That’s a jaw-dropping 140,000x return on the original investment of $7,805. However, it is still not confirmed that these two wallets are linked to one person or entity. Another wallet of this Bitcoin OG also transferred out 10,000 $BTC ($1.09B) just now after being dormant for 14+ years. 14 years ago, $BTC was only $0.78 — that’s a mind-blowing 140,000x return! https://t.co/e2m8AunEMc https://t.co/G0YXqPi4mK pic.twitter.com/E1fgGlYA4u — Lookonchain (@lookonchain) July 4, 2025 All this comes as markets are still hesitating. Bitcoin rallied past $110,000 overnight, then pulled back to $108K levels. Despite US Bitcoin Exchange-traded funds (ETFs) continuing to accumulate, corporate treasuries stacking BTC, the market seems split between bullish momentum and macro caution. Bitcoin price is up by more than 3% in the last 30 days and is trading at an average price of $108,895 at press time. The biggest crypto is just inches away from reclaiming its recently made all-time high of around $112K. GOP pushes crypto bills The timing of this on-chain event comes when Republicans are planning to bring three major crypto bills to the floor. Every investor’s eyes are on the CLARITY Act (market structure), the Anti-CBDC Surveillance State Act, and the Senate’s recently passed GENIUS Act, which aims to put stablecoins under a federal regulatory framework. In a coordinated announcement on Thursday, House Financial Services Chair French Hill, Agriculture Chair Glenn “GT” Thompson, and Speaker Mike Johnson declared their intent to move forward with these acts. “House Republicans are taking decisive steps to deliver the full scope of President Trump’s digital assets and cryptocurrency agenda,” Johnson said in a statement. The push indicates the most aggressive legislative effort yet to align US crypto regulation with the GOP’s pro-business platform. This includes placing privacy, decentralization, and market freedom at the heart of the nation’s digital asset framework. Republican leaders say the goal is to make the US the crypto capital of the world, while protecting financial sovereignty in the face of growing global CBDC adoption. “This is a historic opportunity,” said Majority Whip Tom Emmer, a longtime crypto advocate. “By sending these three pieces of legislation to President Trump’s desk, we will protect Americans’ right to financial privacy.” The cumulative crypto market stood at $3.35 trillion, with the 24 hour trading volume of $109.4 billion. The stablecoin market cap is at just $264.4 billion, where Tether’s USDT is leading the race with $158.4 billion cap. Cryptopolitan Academy: Want to grow your money in 2025? Learn how to do it with DeFi in our upcoming webclass. Save Your Spot
BitcoinWorld Y Combinator Alum Unleashes $34M Fund to Propel Next-Gen Startups The world of startup investment is constantly evolving, and at its core lies the transformative power of accelerators like Y Combinator . For those tracking high-growth opportunities, a significant development has emerged: a new, dedicated fund poised to capitalize on the unparalleled success of YC companies. This initiative, spearheaded by a seasoned YC alum, promises to reshape the landscape for emerging ventures, particularly within the burgeoning tech sector. The Enduring Power of Y Combinator: A Goldmine for Investors? For decades, Y Combinator has stood as a beacon of innovation, a launchpad for some of the world’s most successful companies. Its rigorous program and expansive network have consistently delivered exceptional returns to investors. Kulveer Taggar, a two-time YC alum and a figure well-versed in the startup ecosystem, underscores this potential. “If you look at the data: 6% of YC companies become unicorns, and of that 6% a quarter become decacorns,” Taggar shared with Bitcoin World. This impressive track record highlights why investment in YC-backed ventures is often seen as a strategic move. Taggar, best known for founding Zeus Living, a property management startup that secured over $150 million in funding, has channeled his confidence in YC’s continued return potential into a new venture: Phosphor Capital. This firm is uniquely dedicated solely to investing in YC companies. Since its inception last year, Phosphor Capital has successfully raised $34 million in capital across two distinct funds, signaling strong investor belief in its focused strategy. Navigating the Landscape of Venture Capital with a Unique Edge In the competitive realm of Venture Capital , differentiation is key. While Phosphor Capital is not the sole firm concentrating on YC startups—Pioneer Fund and Rebel Fund employ similar strategies—it distinguishes itself as the only dedicated YC fund led by a solo General Partner. This structure allows for streamlined decision-making and a highly personalized approach to portfolio companies. Phosphor Capital’s investment strategy involves writing checks ranging from $100,000 to $500,000, providing crucial early-stage capital to promising YC graduates. This targeted investment size enables the fund to build a diverse portfolio, mitigating risk while maximizing exposure to high-potential startups. The firm has already backed over 200 YC companies, a testament to its active engagement and rapid deployment of capital. Several of these early investments have already progressed to successfully raise Series A funding, demonstrating the efficacy of Phosphor’s selection process and support. Why Garry Tan’s Backing Signals a New Era for YC Startups A significant vote of confidence for Phosphor Capital comes from an influential figure within the YC ecosystem: Garry Tan , the current CEO of Y Combinator. Taggar’s deep and enduring relationship with YC played a pivotal role in securing Tan as an investor in the fund. Their connection dates back to 2007 when Taggar, alongside his cousin Harj Taggar and future Stripe founders Patrick and John Collison, brought their startup, Auctomatic, through the accelerator program. This early experience forged a strong bond with the top accelerator. Their paths intertwined again in 2011 when Taggar returned to YC with Zeus Living. Initialized Capital, co-founded by Garry Tan, led Zeus Living’s Series A funding round and joined its board, further cementing their professional relationship. Taggar views Tan’s leadership at Y Combinator as transformative. “You could view this as a bet on Garry. I think he is taking Y Combinator to new levels,” Taggar stated, emphasizing the strategic alignment and shared vision between the two. Propelling Innovation: The Focus on AI Startups One of the most exciting areas of focus for Phosphor Capital is the burgeoning field of AI Startups . Taggar expressed particular enthusiasm for the opportunities presented by young companies leveraging artificial intelligence. The rapid advancements in AI technology are creating fertile ground for disruptive innovations across various industries, making it a prime target for early-stage investment. Phosphor Capital’s portfolio already reflects this strategic emphasis on AI. Among the over 200 YC companies it has backed, several prominent AI-driven ventures stand out. For instance, workflow automation platform Gumloop and AI meeting manager Circleback have both successfully secured Series A funding after receiving initial support from Phosphor. These examples highlight the fund’s ability to identify and nurture promising AI technologies that are poised for significant growth and impact. From Founder to Funder: A Masterclass in Startup Funding Kulveer Taggar’s journey from a two-time YC founder to a dedicated investor provides a unique perspective on Startup Funding . Unlike many emerging managers, Taggar experienced a relatively smooth capital-raising process for Phosphor Capital. His established relationships with previous investors, including those from Zeus Living, proved invaluable. “I had a relationship with them and a track record, so they knew me, and they knew how hard I work,” he explained. Beyond existing relationships, Phosphor’s limited partners (LPs) also include family offices and a large asset manager, who are betting on Taggar primarily due to his deep and long-standing ties to Y Combinator. YC partner Jared Friedman aptly described Taggar as an “OG alum from the early days of YC,” highlighting his close connections within the organization. This insider status provides Phosphor Capital with unparalleled access and insights into the YC ecosystem. Taggar’s background as a founder, complete with the challenges and triumphs of building a company like Zeus Living (which, at its peak, was valued over $200 million with an annual revenue run rate of about $120 million before facing headwinds and being sold), resonates deeply with the founders he now supports. Friedman noted, “Zeus was a really hard company to run. He has a tremendous number of battle scars from doing this hard thing in the physical world.” This firsthand experience fosters incredible empathy. “I hear this from founders that he has incredible empathy for what they are going through, because he went through it all himself,” Friedman added. This founder-centric approach makes Phosphor Capital a highly attractive partner for YC startups navigating their own growth journeys. Conclusion: A Focused Bet on the Future of Innovation Kulveer Taggar’s Phosphor Capital represents a compelling new chapter in the world of venture investment, particularly for the Y Combinator ecosystem. By leveraging deep insider knowledge, a proven track record, and the strategic backing of figures like Garry Tan, Phosphor is uniquely positioned to identify and nurture the next generation of successful startups, with a keen eye on transformative areas like artificial intelligence. This focused approach not only promises significant returns for investors but also provides invaluable support and empathy for founders building the future. To learn more about the latest AI market trends, explore our article on key developments shaping AI features. This post Y Combinator Alum Unleashes $34M Fund to Propel Next-Gen Startups first appeared on BitcoinWorld and is written by Editorial Team
Binance strengthens its European presence by appointing Gillian Lynch as Head of European and UK Operations, emphasizing regulatory engagement and strategic growth. Lynch’s extensive fintech and compliance background is expected
TL;DR Analysts remain bullish on XRP, with some eyeing a move to $2.65 or even $3, while others dream of a historic surge to $30. Binance added NEWT and SAHARA to its VIP Loan program, removed several trading pairs (impacting FIO the most), and launched new staking options for SOL-related tokens. After closing Q2 at a record $107,500, BTC hovers near $109K; while some foresee a rally toward $120K, Arthur Hayes warns of a short-term drop to $90K due to US liquidity shifts – though he stays bullish long term. XRP Forecasts Despite its daily decline of around 2.5%, the XRP price is up 6% on a weekly scale and remains the subject of bullish predictions. XRP Price, Source: CoinGecko Just a few days ago, the X user World of Charts argued that an XRP breakout and retest has already been confirmed , anticipating a pump above $3 sometime in July. For their part, Maxi thinks the token could mirror its impressive performance from the end of 2017 and experience a 1,200% rise in a matter of days. A jump of that type would push the price to a new historic peak of around $30, which, as of the moment, seems quite unlikely. Other popular analysts who made more realistic forecasts include Ali Martinez and Crypto Beast. The former claimed XRP could be forming an inverse head and shoulders pattern, “potentially setting the stage for a 15% breakout to $2.65.” Crypto Beast expects the price to make a 3x during the ongoing bull run. What’s New Around Binance? The world’s largest crypto exchange recently added Newton Protocol (NEWT) and Sahara AI (SAHARA) as new loanable assets on its VIP Loan program. Despite the support, the tokens witnessed substantial price corrections. Additionally, Binance scrapped the following spot trading pairs: ACT/EUR, FIO/BTC, TNSR/FDUSD, and TST/FDUS. Such actions usually have a negative effect on the involved coins due to reduced liquidity, less visibility, and reputational blow . FIO took the biggest blow, plunging by 8% after the announcement. Earlier today (July 4), Binance came up with another disclosure. It informed its users that they can stake their SOL, HODL BNSOL, sBNSOL, or bzSOL holdings and earn up to 6.5% APR, with boosted LAYER, ACE, and DYM airdrops distributed automatically. “But that’s not all , something new is launching soon,” the exchange teased. How’s BTC Doing? Last but not least, we will delve into the leading cryptocurrency and explore some interesting price forecasts. Bitcoin (BTC) made history in May, reaching a new all-time high of almost $112,000. In the weeks that followed, it saw a slight pullback but still closed Q2 at around $107,500 – the highest quarterly finish in its history. The crypto community remains quite bullish that the asset, currently trading just south of $109,000, could be on the verge of a rally toward a fresh peak. X user CRYPTOWZRD thinks a breakout above $110,500 could push the price to $120,000. On the other hand, Arthur Hayes (co-founder of BitMEX) predicted a short-term pullback to $90,000 due to a potential liquidity drain from the US Treasury issuing new debt following Trump’s “Big Beautiful Bill. “ However, he remains a bull for the long term, viewing the possible pullback as just a temporary event. The post Ripple (XRP) Price Predictions, Recent Binance Changes, and More: Bits Recap July 4th appeared first on CryptoPotato .
On July 4th, the Brussels Criminal Court handed down a significant ruling in a high-profile cryptocurrency kidnapping case. Three perpetrators received 12-year prison sentences each for abducting the spouse of
The post Will XRP Finally Get Legal Clarity? Ripple CEO Testifies in Congress Next Week appeared first on Coinpedia Fintech News The US Congress has scheduled a hearing on crypto market structure next week with industry leaders set to testify, including Ripple CEO Brad Garlinghouse. The initiative is expected to influence future crypto legislation in the United States.Attorney John E Deaton shared a post on X (formerly Twitter), detailing the lack of clarity. Committee Hearing Set to Tackle Market Structure The committee session, which will take place on Wednesday at 10:00 AM ET, will focus on enhancing crypto market structure, a long-awaited legislative proposal that can shape the landscape of cryptocurrency in the US. Eleanor Terret, host of Crypto in America, reported the hearing on X, which aims to define how digital assets are classified and regulated. According to her report via X, confirmed witnesses in the hearing include: Brad Garlinghouse: CEO of Ripple Kristin Smith: CEO of Blockchain Association Jonathan Levin: CEO of Chainalysis Dan Robbinson: General Partner at Pradigm With unique perspectives from the industry leaders, republican lawmakers will push for greater legal certainty, especially in defining the decentralized protocol and how open-source developers should be treated under federal law. John E Deaton’s Comment on Ripple’s Lack of Clarity Ripple had been in a legal battle with the SEC, which resulted in providing some clarity regarding the sales of XRP. However, the crypto exchange still lacks complete legal clarity for XRP. Deaton, an XRP attorney, shed light on Ripple’s legal struggle for legal clarity. He stated “I’ll be there in spirit, Brad.” CLARITY Bill and GENIUS Act The CLARITY and GENIUS Acts are two of the key focuses in the upcoming hearing. The legislation seeks to create a regulatory framework for the CLARITY Bill that separates digital commodities from securities, an issue that has long divided the Securities and Exchange Commission (SEC) and the Commodity Futures Trading Commission (CFTC). Moving in parallel, the GENIUS Act continued its own trajectory towards a potential vote in the House. If passed, the GENIUS Act would proceed to the President’s desk for signing, while the CLARITY bill to move to Senate consideration. The US is currently in a wave of embracing innovation by regulating cryptocurrency and other digital assets. It has also set a ‘crypto week’ in July to further welcome the new legal structure for crypto.