Bitcoin’s upcoming network upgrade will eliminate restrictions on transaction data, aiming to enhance efficiency and accommodate the growing needs of blockchain applications. This pivotal change addresses criticisms regarding outdated limitations
On May 6th, COINOTAG reported significant developments in the crypto trading landscape, with Binance Alpha 2.0 achieving a remarkable trading volume of $274 million on May 5th. This milestone marks
Bitcoin Core developers have decided to remove a limit on transaction data in the next network upgrade, enabling more data to be included in a more efficient way. “Bitcoin Core’s next release will, by default, relay and mine transactions whose OP_RETURN outputs exceed 80 bytes and allow any number of these outputs,” read the announcement on GitHub by Bitcoin developer Greg Sanders on May 5. The long-standing limit was originally a “gentle signal that block space should be used sparingly for non-payment proof of publication data,” has outlived its utility, he added. The proposal ( PR 32359 ) was created by Bitcoin pioneer Peter Todd at the request of Chaincode Labs. OP_RETURN is a special type of Bitcoin ( BTC ) transaction output that allows storing small amounts of data on the blockchain, popularized during the ordinals inscriptions craze in early 2024. Unlike regular transaction outputs, OP_RETURN outputs are not spendable and don’t bloat unspent transaction outputs ( UTXOs ). The original limit is no longer effective as people found ways around it, such as using fake output addresses, which are actually worse for the network, while some mining services were already ignoring the limit, said Sanders. “Large-data inscriptions are happening regardless and can be done in more or less abusive ways; the cap merely channels them into more opaque forms that cause damage to the network.” Related: Bitcoin block size could grow to 4 MB with inscriptions: Research Benefits of removing the limit include a cleaner UTXO set, or database of spendable outputs, more consistent behavior across the network, and better alignment with how Bitcoin is actually being used, he added. Three possible paths were considered: keeping the cap, raising the cap and removing the cap, which was ultimately decided upon after earning “broad, though not perhaps unanimous, support.” A controversial change to Bitcoin “Many users find this to be an undesirable change for a number of reasons,” said Bitcoiner Samson Mow on X on May 5. He added that users “can refuse to upgrade and stay on 29.0 or run another implementation” of the network. Critics said that the proposal was introduced without a proper consensus process. “I think one thing is pretty clear, there is no consensus at the moment on this OP_RETURN issue,” said Ten31 Fund managing partner Marty Bent. Some also expressed concerns about deprioritizing Bitcoin’s financial utility and raised questions about undisclosed conflicts of interest. Critics of OP_RETURN limit removal. Source: moonsettler Magazine: Bitcoin to $1M ‘by 2029,’ CIA tips its hat to Bitcoin: Hodler’s Digest
Ripple stops publishing XRP Markets reports in their existing format from 2025. New reports will focus on comprehensive data analysis for institutional investors. Continue Reading: Ripple Elevates Market Reporting with a New Comprehensive Format The post Ripple Elevates Market Reporting with a New Comprehensive Format appeared first on COINTURK NEWS .
The recent downturn in the Shiba Inu market highlights shifting investor sentiments, with bearish trends gaining traction amidst fluctuations in on-chain activities. Shiba Inu’s recent price action demonstrates a significant
Alex Mashinsky, the founder and former CEO of bankrupt crypto lending platform Celsius, has blasted the government's 20-year “venom-laced” sentence request, declaring it a “death-in-prison sentence.” The US Department of Justice requested Mashinsky receive at least 20 years behind bars in the May 8 sentencing for his role in misleading Celsius users and profiting from the price manipulation of Celsius ( CEL ), which would make the 59-year-old 79 if he serves the whole sentence. Lawyers acting for Mashinsky argued in a May 5 reply memorandum filed in a New York district court that he should receive no more than 366 days, because the DOJ hasn't taken into account his status as a nonviolent first-time offender with a previously unblemished 30-year history in business. “The government's venom-laced submission recasts this case as one involving a predator with an intent to target victims, harm them, and steal their money,” they said. “It concludes by recommending that a first time, nonviolent offender who pled guilty and accepts responsibility receive a death-in-prison sentence.” Lawyers acting for Mashinsky argue the DOJ has ignored their client's background in its sentencing request. Source: Court Listener Mashinsky pleaded guilty to two out of seven charges As part of a plea agreement, Mashinsky pleaded guilty in December 2024 to commodities fraud and manipulating the price of CEL, earning $48 million by selling his holdings before Celsius collapsed in June 2022. Prosecutors initially filed seven charges in July 2023. Lawyers acting for Mashinsky allege the DOJ’s push for a 20-year sentence is because their client is unwilling to “capitulate to the government’s exaggerated characterizations of his actions,” specifically that he was a “fraud from the get-go.” “Alex is inserted as the scapegoat for every corporate action, every group decision, every unanimous vote, every market fluctuation, and every employee's watercooler speculation,” they said. As part of its April 28 sentencing request, the DOJ said Mashinsky’s guilty plea showed that his crimes were deliberate, calculated decisions to lie, deceive and steal. Days earlier on April 23, US federal prosecutors also filed statements from hundreds of victims who lost money due to the Celsius collapse. They detailed how some had entrusted their life savings to the protocol, believing Mashinsky’s assurances that it was safe. Related: What do crypto users want to happen to Alex Mashinsky? Celsius filed for Chapter 11 bankruptcy on July 13, 2022, owing $4.7 billion to creditors after halting withdrawals in June, citing volatile market conditions. In November 2023, a US bankruptcy court approved Celsius' restructuring plan to repay customers, and in August 2024, $2.53 billion was paid to 251,000 creditors. Former Celsius chief revenue officer Roni Cohen-Pavon also pleaded guilty in September 2023 to similar charges, but his Dec. 11 sentencing has been delayed until after Mashinsky is sentenced. Magazine: Crypto wanted to overthrow banks, now it’s becoming them in stablecoin fight
The US Commodity Futures Trading Commission (CFTC) will watch tokenization pilots to assess crypto’s real-world impact. Caroline D. Pham, acting chairperson of the CFTC, spoke at the Medici Conference, and she said they intend to monitor multiple tokenization pilot schemes . She noted that they must understand how tokenized securities can function within legacy financial infrastructure and ensure that laws are written to support that vision. Through studying these pilots, the CFTC wants to gain technological expertise that could help provide input on future regulations. The agency’s observer role signifies a proactive approach to engaging with emerging financial technologies without direct market intervention. The approach permits the CFTC to closely watch developments without giving up its regulatory oversight. Crypto community members are pleased with the CFTC’s planned tokenization pilot initiative The CFTC wants to learn more about the practical impact of tokenized assets and how they operate in the real world. In an interview at the Medici Conference with Journalist Eleanor Terett, Pham argued that they wanted to understand tokenization tech. Terett even posted on X: CFTC plans to be an observer on a handful of industry tokenization pilot programs in order for the agency to learn first hand how well-tokenized assets can function in the real world and gain experience with the technology. Eleanor Terett Responding to Terett’s post, most crypto members seemed pleased with the CFTC’s initiative, with some arguing that it’s the best approach. The Department of Government Efficiency also commented on the matter, posting an automated message on X. It described the CFTC’s decision as smart, saying that using stablecoins as collateral could modernize financial systems and reduce bureaucratic insufficiencies. The CFTC declared it would host a CEO forum to talk about a pilot program for stablecoins In February, the CFTC announced it would hold a CEO forum to discuss a pilot program focused on non-cash collateral like stablecoins. The forum would include Circle, Coinbase, Crypto.com, MoonPay, and Ripple’s leaders. Back then, Pham insisted that the agency was geared toward innovation and would engage with market participants to achieve Trump’s crypto agenda. In September 2023, she also suggested having a pilot initiative focused on regulating crypto. In her proposal, she detailed they would start discussions with multiple stakeholders, and then the agency would propose and adopt rules around registration requirements and risk management. Then, the agency would assess whether to modify the rules permanently. Last year, The CFTC’s Global Markets Advisory Committee (GMAC), sponsored by Acting Chairman Pham, also proposed expanding the use of non-cash collateral through distributed ledger technology. At the time, Pham believed the GMAC’s recommendation on tokenized non-cash collateral represented a meaningful first step toward achieving regulatory clarity for digital assets in the U.S. She said this development would help unlock opportunities for the derivatives markets while maintaining the same guardrails and protections already in place. Cryptopolitan Academy: Want to grow your money in 2025? Learn how to do it with DeFi in our upcoming webclass. Save Your Spot
Funding rate data revealed that the past few days saw a hike in bearish sentiments
The move stems from a 2023 call in which FinCEN reportedly told prosecutors that the wallet did not qualify as a Money Services Business. This critical detail was only disclosed to the defense almost a year later, which prompted calls for case dismissal and hearings over prosecutorial conduct. Meanwhile, OpenSea CEO Devin Finzer criticized the SEC’s past enforcement-heavy tactics under the Biden administration, and described them as stifling innovation. He praised the Trump-era regulatory shift that led to dropped cases against Coinbase, Ripple, and others. At the same time, the trial of former SafeMoon CEO Braden Karony is beginning under new DOJ leadership, adding further complexity. Overall, it seems like there is a growing clash between US federal prosecutors and the crypto industry cross multiple high-profile cases. Samourai Wallet Fights Back Samourai Wallet’s legal team is accusing federal prosecutors of withholding critical information that could have changed the course of the criminal case against its co-founders. In a letter that was submitted to a Manhattan federal court on May 5, attorneys for Keonne Rodriguez and William Hill revealed that prosecutors were informed by the US Treasury Department’s Financial Crimes Enforcement Network (FinCEN) in late 2023 that Samourai Wallet did not qualify as a Money Services Business (MSB) under existing guidance. Despite this, prosecutors still moved forward six months later with criminal charges alleging that the crypto mixing service was operating as an unlicensed money transmitter. The defense claims this guidance should have been disclosed by May 8, 2024, but was only shared with them on April 1, 2025, almost a year late. Rodriguez and Hill were charged in February of 2024 and arrested in April for allegedly facilitating over $2 billion in unlawful transactions, including $100 million linked to online black markets and scams, through Samourai’s crypto-mixing technology. Both men pleaded not guilty. Samourai Wallet website Their lawyers argue that FinCEN explicitly told prosecutors in a call that the Samourai app, which does not take custody of funds or hold private keys, would not be considered an MSB. According to a prosecutor's email summarizing that call, FinCEN representatives said that without custody, Samourai would likely not require a license, and that any attempt to argue otherwise would be legally difficult due to lack of precedent. The defense is now requesting a court hearing to examine the government's delayed disclosure and explore potential remedies. They also plan to renew a motion to dismiss the case, due to the new evidence and a recent Justice Department policy shift. In an April 7 memo , Deputy Attorney General Todd Blanche stated that prosecutors should not pursue cases against crypto mixers for accidental regulatory violations. The defense argues that if Samourai was never required to register as a money transmitter under FinCEN’s own guidance, the entire basis of the criminal charges collapses. Both sides already asked the court for more time on April 28 to consider whether to continue the case in light of the Justice Department’s changing stance on crypto enforcement. OpenSea CEO Slams SEC Others in the industry are also not very happy with how crypto enforcement was treated. OpenSea CEO Devin Finzer recently criticized the US Securities and Exchange Commission’s (SECs) prior approach to crypto regulation, and described it as overly broad and harmful to innovation. In a recent interview , Finzer argued that under the Biden administration, the SEC unfairly targeted legitimate players in the digital asset space, including OpenSea, by treating all digital assets with a one-size-fits-all approach. This, he said, created a persistent regulatory overhang that stifled progress in the sector. OpenSea CEO Devin Finzer OpenSea received a Wells notice from the SEC in 2024, signaling a potential enforcement action over claims that it operated as an unregistered securities exchange. Finzer pushed back against the charge, and called it an example of “regulation by enforcement.” Finzer is very optimistic that the new leadership under SEC Chair Paul Atkins will take a more nuanced and innovation-friendly stance. He firmly believes that there is a need for regulation that protects consumers while still allowing space for experimentation and growth. Since the transition to the Trump administration, the SEC greatly reduced its legal pressure on crypto firms, including dropping cases against Coinbase, Kraken, Uniswap, Yuga Labs, and OpenSea. It even dismissed its years-long battle with Ripple. This change followed strong support from the crypto industry during the 2024 US elections, with pro-crypto candidates receiving over $119 million in donations. While the broader crypto market suffered after the FTX collapse in 2022 , Finzer is still confident in the long-term future of NFTs. He said that despite low trading volumes, innovation in areas like gaming and digital art continues to thrive. OpenSea, meanwhile, is now working to expand beyond NFTs to support a wider range of on-chain assets. SafeMoon Trial Opens During DOJ Shake-Up The US Attorney’s Office for the Eastern District of New York (EDNY) underwent a leadership change just as the criminal trial of former SafeMoon CEO Braden John Karony is set to begin. On May 5, the office announced that Joseph Nocella will take over as interim US Attorney for a period of 120 days or until a Senate-confirmed nominee is appointed. Statement from the United States Attorney’s Office Nocella was appointed by President Donald Trump, replacing Acting US Attorney John Durham. He vowed to focus on prosecuting narcotics traffickers, gang members, terrorists, and other serious offenders. The timing of Nocella’s appointment happened as jury selection begins in the high-profile crypto fraud case against Karony. This raised some questions about whether the leadership transition could affect the prosecution’s direction. SafeMoon CEO Braden John Karony Karony, along with co-defendants Kyle Nagy and Thomas Smith, was indicted in November of 2023 on charges of securities fraud conspiracy, wire fraud conspiracy, and money laundering conspiracy. Prosecutors allege the trio misappropriated millions of dollars’ worth of SafeMoon (SFM) tokens between 2021 and 2022. Karony maintained his innocence and has been out on a $3 million bond since February of 2024. Earlier this year, Karony asked the court to consider delaying the trial due to proposed changes to US securities laws under the Trump administration, which he argued could influence the legal grounds of the case. However, jury selection is proceeding as scheduled under US Magistrate Judge James Cho, with District Judge Eric Komitee set to oversee the full trial starting May 6. While EDNY has not traditionally been the focal point for high-profile crypto enforcement actions, it has handled several cases involving digital assets, including a SEC complaint against Hex founder Richard Heart. Its neighboring jurisdiction, the Southern District of New York, will oversee the sentencing of former Celsius CEO Alex Mashinsky on May 8.
Crypto analyst Ali, known for his market insights under the handle @ali_charts, has released a chart showing that most traders on Binance Futures continue to hold long positions on XRP. In a tweet posted on May 3, Ali highlighted that 71.54% of traders with open XRP positions are betting on the price going up. Only 28.46% are taking short positions. The resulting long/short ratio stands at 2.51. 71.54% of traders on Binance Futures with open $XRP positions are leaning bullish! pic.twitter.com/zDHbN1o1sl — Ali (@ali_charts) May 4, 2025 This data indicates a significant bullish bias among traders using the Binance Futures platform. The long/short ratio is a metric that helps gauge market sentiment by comparing the number of accounts holding long positions versus those holding short positions. A ratio above 1 suggests more traders are expecting price appreciation, while a ratio below 1 indicates bearish expectations. At 2.51, the current figure shows that more than twice as many traders are betting on an XRP price increase than a decline. The chart shared by Ali also reflects the movement of this ratio over time. At earlier timestamps, the bullish dominance was slightly lower, with a visible decline before rebounding and stabilizing above the 2.0 mark. This recent shift upward in the long/short ratio shows increasing confidence among long-position holders. Price Performance Diverges from Trader Sentiment Interestingly, this bullish sentiment appears to be forming in contrast to recent price performance. According to CoinMarketCap data, XRP has declined by 4.34% over the past seven days and by 0.37% in the last 24 hours. These figures show that despite the falling price trend, many traders maintain their optimistic outlook. The divergence between market sentiment and price action could be interpreted in many ways. Some traders might view the recent decline as a short-term correction within a broader bullish structure. In contrast, others may expect a price rebound based on technical indicators or anticipated news developments related to XRP or the crypto market. Implications for the Market The dominance of long positions can impact price movements if sentiment begins to unwind or traders begin to take profits. If the price continues to drop despite long-term exposure, there may be an increased risk of liquidations, which could intensify downward pressure in the short term. Conversely, if market conditions begin to favor upward movement, the current positioning could lead to rapid price recovery, amplified by the existing bullish bias. It is worth noting that while the long/short ratio provides useful insights into trader sentiment, it does not predict price direction on its own. It should be interpreted alongside broader market indicators and price trends. Disclaimer : This content is meant to inform and should not be considered financial advice. The views expressed in this article may include the author’s personal opinions and do not represent Times Tabloid’s opinion. Readers are urged to do in-depth research before making any investment decisions. Any action taken by the reader is strictly at their own risk. Times Tabloid is not responsible for any financial losses. The post 71.54% of XRP Futures Traders On Binance Are Bullish appeared first on Times Tabloid .