Australia’s financial regulator will seek the High Court’s permission to appeal a lower court’s ruling favoring fintech firm Block Earner, which found the company’s crypto-linked fixed-yield earning service is not a financial product. The Australian Securities and Investment Commission (ASIC) said on May 21 that it wants to ask the High Court of Australia to clarify what the definition of a financial product is and clarify the circumstances when an interest-earning product and conversion of assets from one form to another are regulated. “The definition of financial product was drafted in a broad and technology-neutral way, and ASIC believes it is in the public interest to clarify this,” the watchdog said. “This clarification is important as it applies to all financial products and services whether they involve crypto-assets or not.” On April 22, Federal Court Justices David O’Callaghan, Wendy Abraham and Catherine Button found that Block Earner’s crypto-linked fixed-yield earning product is not a financial product , a managed investment scheme or a derivative under the Corporations Act. ASIC said the court will consider its application. Special leave is required in an appeal to the High Court, and it’s only granted in cases where it would answer significant legal questions or matters of public interest. A Block Earner spokesperson told Cointelegraph the matter has now escalated to a “broader legal question” around the definition of a financial product, which extends “well beyond Block Earner, and the crypto sector.” “We believe the Full Federal Court’s April ruling was a strong and well-reasoned decision that upheld the integrity of our operations,” the spokesperson said. “We remain confident in the soundness of that judgment and will respond to ASIC’s application through the appropriate legal channels.” Legal saga ongoing since 2022 ASIC first launched legal proceedings against Block Earner in November 2022, arguing the company needed a financial services license to offer its yield product which was available from March 17, 2022, until the company shut it down on Nov. 16, 2022. Related: Australia outlines crypto regulation plan, promises action on debanking ASIC was arguing Block Earner needed a financial services license to offer its crypto-linked fixed-yield earning product. Source: ASIC In February 2024, an Australian court initially ruled the fintech firm would need a financial services license to operate its crypto yield-bearing products . Another June 2024 ruling in Australia’s Federal Court released Block Earner from any financial penalties because it had “acted honestly” and pursued its legal opinions before launching the products, which ASIC appealed. Block Earner appealed the Federal Court’s decision that it needed a financial services license on July 9, 2024. Magazine: SEC’s U-turn on crypto leaves key questions unanswered
With Solana’s price eyeing a four-figure milestone, the spotlight is shifting to a handful of tokens that are drawing heavy whale accumulation and analyst attention for 2025. MAGACOIN FINANCE is leading the charge as Stage 8 nears completion, while XRP and Bitcoin continue to build institutional momentum. NEAR Protocol is also gaining traction, but it’s MAGA, XRP, SOL, and BTC that are now at the center of the next big crypto cycle. CLICK HERE – ROI TARGET: 18,500% AND COUNTING Why MAGACOIN FINANCE Is the Coin to Watch Before Stage 9 MAGACOIN FINANCE is capturing serious attention as Stage 8 approaches its final phase, with over $8 million raised and a hard listing target of $0.007. Unlike legacy coins where much of the upside is already priced in, MAGA offers structured scarcity, surging demand, and transparent price discovery. Analysts are projecting a 35x–40x ROI from current levels, with some models suggesting even greater upside if listing momentum continues. Whale allocations, rapid presale sellouts, and a capped 100 billion token supply audited by HashEx are positioning MAGACOIN FINANCE as a rare ground-floor opportunity for Q2 and Q3 2025. Bitcoin: Macro Momentum and Whale Accumulation Bitcoin (BTC) is trading at $103,405, having gained over 14% in the past 30 days and holding well above $100,000 7 . On-chain data shows major wallets accumulating, with ETF inflows stabilizing and analysts forecasting a plausible rally toward $150,000 if current trends hold. As Bitcoin’s macro narrative strengthens, early-stage tokens like MAGACOIN FINANCE are benefitting from increased capital rotation. XRP: Derivatives, ETFs, and Global Settlement XRP is trading at $2.35, with whales accumulating over 880 million tokens in May alone. The launch of CME futures and growing ETF speculation are fueling institutional interest, while legal clarity and Ripple’s expanding partnerships are setting the stage for XRP to serve as a global settlement infrastructure asset. Analysts forecast a move to $2.85 by June and $5.50 by year-end, with $15 as a stretch target if ETF adoption accelerates. As institutional flows grow, many investors are also rotating into early-stage projects like MAGACOIN FINANCE for greater upside. Solana: Whale Accumulation and Technical Breakout Solana (SOL) is trading at $169.25, up 1.84% in the last 24 hours, and has rebounded over 50% from recent lows. Whale accumulation is accelerating, with large wallets withdrawing over 145,000 SOL from exchanges and analysts now eyeing the $200 level as a short-term target. While $1,000 remains a bold call, Solana’s bullish momentum is undeniable, but the most aggressive capital is also moving into MAGACOIN FINANCE for earlier, higher-multiple potential. NEAR Protocol: Quiet Growth and Breakout Potential NEAR Protocol (NEAR) is trading at $2.76, up 1% in the past 24 hours. Its developer ecosystem and integrations are expanding, but NEAR still lags the market leaders in momentum. As capital seeks undervalued networks, many NEAR holders are also looking to MAGACOIN FINANCE for early-stage, high-upside exposure. HIGH DEMAND, LOW SUPPLY – ACT NOW Conclusion Smart capital is converging around MAGACOIN FINANCE, XRP, Solana, and Bitcoin as the top altcoin picks for the 2025 bull run. With Stage 8 nearly full, robust demand, and a clear listing roadmap, MAGACOIN FINANCE stands out as the most compelling early-stage opportunity of the year. The window for entry is closing—and those watching closely know this could be the cycle’s defining moment. To learn more about MAGACOIN FINANCE, please visit: Website: https://magacoinfinance.com Twitter: https://x.com/magacoinfinance The post Solana Eyes $1,000 — But MAGACOIN FINANCE, XRP, and Bitcoin May Hit Their Targets First appeared first on TheCoinrise.com .
Bitcoin is charging toward a potential $150K by August as explosive chart formations signal unstoppable momentum and historic upside. Peter Brandt Says Bitcoin May Hit $150K by August—Chart Signals Align Veteran trader Peter Brandt offered a technical perspective on bitcoin’s recent price surge on May 21, following the cryptocurrency’s breakout to a new all-time high
A US federal jury has convicted Braden Karony, former CEO of digital asset company SafeMoon, on all charges in a cryptocurrency fraud case. Prosecutors argued that Karony’s actions resulted in the misappropriation of millions of dollars from investors. Following a 12-day trial before US District Judge Eric R. Komitee, Korony was convicted of conspiracy to commit securities fraud, wire fraud, and money laundering. He faces up to 45 years in prison when sentenced. The jury took only a few hours to reach their decision after a trial that lasted about two weeks, during which Karony insisted he was innocent. A jury also ordered the forfeiture of one residential property and the proceeds from the sale of another, amounting to roughly $2 million. According to prosecutors, the scheme undermined investor confidence in digital assets and contributed to broader concerns about fraud in the crypto market. “The SafeMoon digital asset was anything but safe and turned out to be pie in the sky for investors who were deliberately misled by Karony, a man who sought to get rich quick by stealing and diverting millions of dollars,” US Attorney Joseph Nocella, Jr. said in a statement . Jury finds Karony guilty of conspiracy, money laundering, and wire fraud In the US District Court for the Eastern District of New York, the jury determined that Karony was involved in a conspiracy to defraud the United States, as well as money laundering and wire fraud. Both prosecutors and defense attorneys presented their arguments during the trial that began with jury selection on May 5. The criminal trials against the executive of a cryptocurrency company were widely viewed as a bellwether for how Joseph Nocella, the acting US Attorney for the district, would approach cases of digital assets and fraud. Nocella, a Donald Trump nominee, began serving duty this month. The case began in 2023 with the arrests of Karony, former Chief Technology Officer Thomas Smith, and SafeMoon founder Kyle Nagy. Prosecutors alleged Karony and his “co-conspirators” misled investors about the structure and safety of SafeMoon, a token issued in 2021 that applied a 10% transaction tax on transfers. Half of that fee was purportedly redistributed to token holders, while the remainder was said to be locked in a liquidity pool to support trading. The Justice Department said Karony and others retained access to the liquidity pool and diverted substantial funds for personal use. During the trial, Smith testified against Karony, while Nagy reportedly fled to Russia and remained at large as of May 21. It was, however, unclear when Karony will be back in court for a sentencing hearing. He could spend over 40 years in prison for his role in defrauding and money laundering activities. On the other hand, Smith, who is said to have agreed to a plea deal with prosecutors, stands to get a lighter sentence. Karony’s trial came after a sentencing hearing for former Celsius CEO Alex Mashinsky in the Southern District of New York; a judge sentenced him to a 12-year prison term following a guilty plea. Former FTX CEO Sam Bankman-Fried was sentenced to 25 years in prison after going to trial, having previously maintained his innocence. Karony takes to social media to proclaim innocence as trial unfolds Karony turned to social media to defend himself, claiming he was innocent as his trial for fraud and money laundering charges started in New York. This came after he shared an X post on May 6, likely after the court proceedings had concluded for the day. He declared that he was innocent and did not commit fraud in response to news coverage about his trial. The trial, which is expected to last until May 26, has received less media coverage than other crypto cases, like the sentencing of former Binance CEO Changpeng Zhao. Following Karony’s pleading not guilty to charges of securities fraud conspiracy, wire fraud conspiracy, and money laundering, he had been out on a $3 million bond since February 2024. As the public eagerly waits for Karony’s sentencing hearing in court, fear has struck them as this is yet another crypto executive’s involvement in a fraud case. Investors may, therefore, decide to hold back, their investment dragging crypto space development behind. Cryptopolitan Academy: Coming Soon - A New Way to Earn Passive Income with DeFi in 2025. Learn More
In recent developments highlighted by COINOTAG News on May 22nd, investor James Wynn has significantly expanded his **Bitcoin** (BTC) long position to an impressive 10,200 coins, totaling a valuation of
Canary Capital updated their Solana ETF application with a new partnership. The update integrates Marinade Finance and allows SOL token staking. Continue Reading: Canary Capital Enhances Solana ETF with Strategic Partnership The post Canary Capital Enhances Solana ETF with Strategic Partnership appeared first on COINTURK NEWS .
On May 22nd, the cryptocurrency community celebrates the **14th anniversary** of “**Bitcoin Pizza Day**,” marking a pivotal moment in the history of digital assets. This year, Bitcoin has once again
Worldcoin is making headlines by securing $135 million in funding through a strategic sale of its WLD tokens, aimed at expanding its biometric operations in the US. The investment, featuring
The post BSC-based Memecoin BUILDon (B) Surges 150% After Support from World Liberty Financial (WLFI) appeared first on Coinpedia Fintech News The WLFI team did not specify the financial details of the $B support but its impact was palpable. The rising optimism of an altseason amid the re-emergence of FOMO traders will help $B sustain bullish sentiment. A recently launched memecoin on the BSC chain dubbed BUILDon (B) rallied over 150 percent in the last 24 hours to trade above $0.1 on Wednesday, during the late North American trading session. The small-cap memecoin, with a fully diluted valuation of about $102 million and a 24-hour average traded volume of about $60 million, recorded staggering gains after an endorsement from Donald Trump-backed World Liberty Financial (WLFI). According to an X post, the WLFI project purchased an undisclosed amount of $B tokens following its recent move to use the USD1 stablecoin as its base pair. “We just bought some $B to support the BUILDon team. Love seeing projects choose $USD1 as their base pair — faster settlement, deeper liquidity, and growth every day. We hope to see more tokens make the switch,” the announcement noted . What Next for BUILDon Following the WLFI Support The BUILDon memecoin has attracted more than 13k on-chain holders after a net pooled USD1 of over 842k to provide liquidity. The BSC mascot is well positioned to rally further in the coming days amid the rising demand for memecoins following the Bitcoin price pump towards a new all-time high. https://twitter.com/buildonbsc_ai/status/1925314302292238396?s=46 Furthermore, the memecoin culture on the BNB chain has gained significant traction in the recent past following the deliberate decision by Binance to support project developers. However, the $B price faces significant volatility ahead amid heightened crypto speculation, thus prone to pump and dump schemes.
Bitcoin’s long-term holders move 8,511 BTC on-chain, signaling potential market shifts amid price surge. 8.511 BTC, held for 3-5 years, was on the move. Bitcoin was experiencing a strong bullish