A Massachusetts man who ran an unlicensed cash-to- Bitcoin operation that prosecutors say facilitated money laundering for scammers and a methamphetamine dealer has been sentenced to six years in federal prison. Trung Nguyen, 48, of Danvers, received the sentence in Boston federal court on Thursday. In addition to the prison term, US District Judge Richard G. Stearns ordered Nguyen to serve 3 years of supervised release and to forfeit over $1.5m in illegal proceeds. Nguyen, who also went by the alias “DCS420,” was convicted in Nov. 2024 of money laundering and operating an unlicensed money transmitting business. Image Source: DoJ Fake Business Masked $1M Bitcoin Laundering Operation Prosecutors said Nguyen ran his scheme through a company called National Vending, LLC, which he presented as a vending machine business. In reality, it served as a front for a Bitcoin exchange service that bypassed federal anti-money laundering requirements. Between 2017 and 2020, Nguyen converted over $1m in cash to Bitcoin, including $250,000 for someone who told him they were a meth dealer. Under federal law, virtual currency exchangers are classified as money transmitters and must register with the Financial Crimes Enforcement Network, or FinCEN. They are also required to maintain anti-money laundering programs and file reports on large or suspicious transactions. Nguyen did neither, despite handling multiple six-figure sums for clients involved in criminal activity and scams. Federal Jury Found Nguyen Knowingly Bypassed Laws Protecting Fraud Victims The Justice Department revealed that Nguyen processed hundreds of thousands of dollars for romance scam victims. These victims had been tricked into sending Bitcoin to fraudsters overseas. In addition, Nguyen used encrypted messaging to communicate with clients. He also avoided reporting thresholds by breaking up large deposits. Further, he took a course that advised him to create a cover story and never mention Bitcoin. Nguyen was indicted in May 2023 and convicted more than a year later after a federal jury found he deliberately flouted laws designed to prevent financial crimes. Authorities said his actions not only helped criminals hide their tracks, but also put vulnerable victims at further risk. Separately this week, a federal jury in the Eastern District of New York convicted former SafeMoon CEO Braden Karony of conspiracy to commit securities fraud, wire fraud and money laundering. The 12-day trial began on May 5. Karony now faces up to 45 years in prison and the forfeiture of illicit gains. The post Illicit Bitcoin Service Lands US Man 6-Year Sentence, Must Surrender $1.5M appeared first on Cryptonews .
Leading U.S. banks collaborate on a potential stablecoin project. Continue Reading: Major Banks Collaborate on a Groundbreaking Stablecoin Project The post Major Banks Collaborate on a Groundbreaking Stablecoin Project appeared first on COINTURK NEWS .
The Uniswap Foundation announced $140.3 million in revenue and $12.4 million in new grant commitments in its Q1 2025 financial report. A report by Uniswap ( UNI ) Foundation on May 23 stated that the majority of the revenue came from a $140 million donation that was authorized by Uniswap governance, with the remainder coming from interest and dividends. As of Mar. 31, the Foundation held $53.4 million in USD and stablecoins, 15.8 million UNI tokens, and 257 Ethereum ( ETH ), totaling about $95 million. Another 5 million UNI was used as collateral for a $29 million loan, giving the Foundation access to cash while limiting market impact. A total of $115.1 million has been set aside for grants, $99.8 million for 2025 and 2026, and $15.3 million for earlier commitments. The Foundation also earmarked $33.3 million to cover operations and staff compensation through January 2027. Of the $12.4 million in new Q1 grants, $9.9 million was dedicated to multi-year programs running through 2029. Some grants include repayment options from Unichain Partners, depending on performance goals. You might also like: Unichain could raise $468m a year for Uniswap Labs and UNI token holders: DeFi Report The Foundation’s Q1 strategy focused on strengthening Uniswap and its layer-2 network, Unichain, as key infrastructure for global digital finance. Priorities included improving capital efficiency across EVM chains, funding developer tools and education, expanding sustainable revenue models, and supporting long-term contributors. Excluding $100,000 in UNI tokens given to staff, operating costs for the quarter came to $1.9 million. Expenses included marketing, software, events, legal and consulting fees, and salaries. The update comes after Uniswap achieved several significant milestones, such as the launch of Unichain in early 2025 and the achievement of a $3 trillion lifetime trading volume . In February, the Securities and Exchange Commission closed its investigation into Uniswap Labs without taking action, a move widely seen as positive for the decentralized finance ecosystem. A Q2 financial update will follow with more data on grants, spending, and the Foundation’s financial position. Read more: Bancor sues Uniswap for patent infringement
The H4 RSI was at 87, a high that has not been matched in recent weeks.
Coinbase Asset Management (CBAM) President Sebastian Pedro Bea discussed the launch of the Bitcoin Yield Fund, designed to offer institutional investors a conservative yield on long bitcoin positions with minimized risk. He also explores evolving institutional attitudes, the impact of bitcoin ETFs, and how macroeconomic trends are accelerating crypto adoption as a strategic store-of-value asset.
The post BlackRock XRP ETF Could Be Risky for Retail Investors: Warns Van Dell, co-founder of Black Swan Capitalists appeared first on Coinpedia Fintech News Amid growing speculation around a potential XRP exchange-traded fund (ETF), Van Dell, co-founder of Black Swan Capitalists , cautions investors against joining the celebration too quickly. While the possibility of BlackRock launching an XRP ETF seems like a milestone for mainstream crypto adoption, Dell suggests it may ultimately serve Wall Street’s interests more than those of everyday investors. “People are excited about the idea of an XRP ETF, especially if it’s backed by BlackRock,” Dell stated in a recent video. “But the real question should be—who benefits most from it?” A Calculated Move by Wall Street BlackRock, the world’s largest asset manager with over $10 trillion in assets under management, has a significant influence over global finance. Dell argues that their move toward an XRP ETF isn’t about democratizing access to digital assets, but rather about controlling and profiting from them. “It’s about wrapping disruptive digital technology like XRP in a suit and tie that Wall Street understands and dominates,” he said. Dell emphasized that while an ETF would make XRP more accessible to traditional investors—who prefer not to deal with wallets, private keys, or exchanges—it strips away the token’s actual utility. ETF holders wouldn’t own the asset itself, which means missing out on the advantages of participating in the XRP network directly. Ownership Without Ownership According to Dell, owning an XRP ETF doesn’t equate to owning XRP. “An ETF offers price exposure, not true ownership,” he said. “You can’t send your ETF to another wallet, use it for transactions, or tap into the protocol’s full potential.” He compared this to owning a piece of the protocol itself—which only comes from holding the actual digital asset, not a financial product that tracks its value. ETFs Favor Institutions, Not Retail Investors Dell outlined several reasons why BlackRock and similar firms would prefer an ETF model over promoting direct XRP ownership: Regulatory Comfort Zone : ETFs operate within the SEC’s framework, minimizing legal risks for institutions. Steady Management Fees : ETFs generate predictable income through annual fees, unlike direct crypto purchases. Price Control and Market Influence : Institutions can manipulate ETF share creation and redemption to influence price and volatility. BlackRock’s Bitcoin ETF, for instance, reportedly brought in over $356 million in daily inflows as of May 2025. Dell argues that firms like BlackRock use insider knowledge and media timing to spark price surges and dips, profiting from market volatility while retail investors react emotionally to headlines. A Broader Perspective While acknowledging the convenience ETFs offer to traditional investors, Dell warned of their limitations and long-term consequences. “It’s business as usual for them—more control, more profit, and less operational hassle,” he said. “But for retail investors, it means less ownership, less utility, and more exposure to market manipulation.” He concluded by urging investors to critically examine both sides of the ETF debate. “Don’t get swept up in the hype,” he said. “Understand the macro picture—and remember that true crypto ownership still lies in holding the native token.”
On May 23rd, the Aergo community unveiled an ambitious proposal to transition the House Party Protocol (HPP) Layer 2 infrastructure from the Optimism (OP) Stack to the Arbitrum (ARB) tech
Some of the biggest banking companies in the US are reportedly exploring a team-up to launch a crypto stablecoin. Companies owned by JPMorgan, Bank of America, Citigroup and Wells Fargo have discussed the possibility of jointly issuing a stablecoin The Wall Street Journal reported on May 22, citing people familiar with the matter. Other financial institutions linked to the potential stablecoin include Early Warning Services, the parent company of digital payments network Zelle, and the payment network Clearing House. The discussions are still in the early stages, and a final decision on the project could change depending on the regulatory environment and the demand for stablecoins. A JPMorgan spokesperson told Cointelegraph the company had no comment. Bank of America, CitiGroup, and Wells Fargo did not immediately respond to requests for comment. On May 20, the US Senate voted 66-32 in favor of advancing discussion on the stablecoin-regulating Guiding and Establishing National Innovation for US Stablecoins (GENIUS) Act. The bill outlines a regulatory framework for stablecoin collateralization and mandates compliance with Anti-Money Laundering laws. The bill is now headed to debate on the Senate floor. Earlier this week, White House crypto czar David Sacks said he expects the bill will be passed and that it will receive bipartisan support. However, high-ranking Democrats plan to amend the bill to include a clause prohibiting President Donald Trump and other US officials from profiting off of stablecoins. Trump and his family launched the crypto platform World Liberty Financial, which crated the USD1 stablecoin in March. Critics argue that President Trump stands to personally benefit from passing favorable stablecoin regulation. Related: World Liberty Financial brushes off oversight concerns from Congress Stablecoin demand surges The demand for stablecoins has been on the rise, with nation state adoption and institutions wanting to incorporate stablecoins. The total market capitalization of stablecoins has shot up to $245 billion from $205 billion at the start of the year, representing a 20% increase. Earlier this week, it was reported that yield-bearing stablecoins now account for nearly 4.5% of the entire stablecoin market, with a circulating supply of $11 billion. Austin Campbell, a New York University professor and founder of Zero Knowledge Consulting, said the American banking lobby is “panicking,” as stablecoins can disrupt the traditional banking business model. Earlier this month, it was reported that tech giant Meta is exploring ways to incorporate stablecoin payments into its platforms. Magainze: Crypto wanted to overthrow banks, now it’s becoming them in stablecoin fight
The post Metaplanet Stock Undervalued Despite Bitcoin Surge – Says Investor Richard Byworth appeared first on Coinpedia Fintech News Metaplanet is quickly becoming one of the most talked-about stocks in Japan. It’s the country’s only real stock market play on Bitcoin, and right now, it looks like it’s still undervalued—even after a huge recent price jump. According to Richard Byworth , a well-known crypto investor, Metaplanet’s current price is still low compared to the amount of Bitcoin it holds. At $10.82 per share (in its U.S. OTC version, MTPLF), the stock is trading at just over 5 times its net asset value based on Bitcoin holdings. For comparison, MicroStrategy (MSTR), a U.S. company that also holds a lot of Bitcoin, trades at only 1.75 times its Bitcoin value. Short Sellers Are Getting Trapped Metaplanet is the most shorted stock in Japan, with nearly 30% of its shares sold short. But because the stock price has been rising sharply, short sellers are stuck. The stock has hit its daily price limit up for three days in a row on the Tokyo exchange. This means it can’t be sold at a higher price during trading hours, which is making it even harder for shorts to cover their positions. Some short sellers are now facing losses of more than 300%, unable to buy shares back to close their bets. When the limits are lifted, there could be a big price move—known as a short squeeze—that pushes the stock much higher. Strong Bitcoin Buying and Macro Trends Metaplanet has been buying Bitcoin aggressively, giving it a Bitcoin yield that’s over 11 times higher than MicroStrategy’s based on recent purchases. This shows the company is growing its Bitcoin holdings fast. Global bond markets are showing signs of trouble. U.S. and Japanese government bond yields are rising, which often leads central banks to lower rates again. Lower interest rates tend to be good for Bitcoin and related stocks. Why Japanese Investors Like Metaplanet Holding Bitcoin directly in Japan can be expensive because capital gains are taxed as regular income at rates up to 55%. But investing in Metaplanet through Japan’s NISA accounts lets investors avoid capital gains tax on up to about $25,000 a year. This tax advantage is attracting many retail investors in Japan, since Metaplanet is currently the only easy way for them to get exposure to Bitcoin via the stock market. What’s Next for Metaplanet? Byworth suggests that if Metaplanet’s price doubled to around $21, it would be valued similarly to MicroStrategy on a Bitcoin asset basis. Even then, it would still be below its highest valuation in the past. With short sellers stuck and strong buying interest from investors, the stock could see more big moves soon.
The post Pepecoin (PEPE) Breaks Out of Bullish Pattern: Can It Hit $0.00002379? appeared first on Coinpedia Fintech News Pepecoin has been on the watchlist of many, if not all, meme coin holders and investors. The buzz has been driven by its stupendous growth on the price chart in the past, and its bullish social metrics. Talking about Pepe price, it is up a healthy 72.96% over the past month, and has broken out of patterns to defy odds. In this Pepecoin (PEPE) price analysis, we outline the possible short-term targets for you to mark your positions. Pepe Price Analysis: Pepecoin (PEPE) price has broken out of a rounded bottom formation on its 4-hour price chart, a key bullish pattern that suggests a further upside. After climbing 72.96% over the past month and 12.89% in the past day, PEPE is trading at $0.00001561, just below its local resistance at $0.0000160. Successively, the neckline, which acted as resistance during the pattern’s formation, has now been breached, and PEPE is attempting to establish a higher support zone. The RSI is currently at 67.73 , approaching the overbought territory, indicating strong momentum but also the potential for short-term consolidation at $0.0000165. If the memecoin defies odds to chug up big, it could target its resistance at $0.00001800. Claiming that, the next big milestone is at $0.00002378. However, on the downside, profit taking could plummet the price to $0.0000136. Also read our Pepecoin (PEPE) Price Prediction 2025, 2026-2030 for long-term price targets! FAQs What is the price of Pepe? The Pepecoin price is currently at $0.00001577 with an intraday gain of 12.89%, which is assisted by its $2.42 billion worth of daily trading volume. What does the current chart pattern indicate about PEPE’s trend? The rounded bottom breakout confirms a bullish reversal, suggesting strong upward continuation if volume supports the move. What happens if PEPE fails to hold above $0.00001500? A breakdown below $0.00001500 could lead to a retest of the key support zone at $0.00001360, potentially invalidating the breakout pattern in the short term.