FTX creditor repayments are underway, marking a significant milestone in the aftermath of the exchange’s historic collapse over two years ago. Industry experts view these developments as a positive sign
On March 1st, COINOTAG News reported that on-chain analyst Wu Jinyan has identified a notable change in the activity of the Bybit hacker. As of yesterday at 3 p.m., the
South Korean investors, known for their bold approach to high-risk trading, are now facing the consequences of their speculative bets on Tesla-linked leveraged products. As Tesla Inc.’s stock has plummeted, so too have the fortunes of many retail investors in South Korea, who placed their bets on exchange-traded products (ETPs) designed to amplify gains. Tesla, which had become a beloved stock among South Korean investors, has seen its value decrease significantly in recent months. This has affected thousands of retail investors who were banking on ETPs that mirror Tesla’s daily price movements—particularly the Leverage Shares 3x Tesla product. According to data from South Korea’s top three brokerages, as of February 21, Korean investors owned a significant share of this product, which seeks to triple Tesla’s daily returns. That strategy, however, has not paid off, as the leveraged product is down over 80% from its high in December, while Tesla stock itself has “only” dropped by 41% in that time. Leveraged ETPs — designed to maximize gains by utilizing derivatives and rebalance daily — frequently incur deadly losses when the market moves against them. These products at times will lag their underlying assets during volatile periods. That’s precisely what we’re seeing right now, with Tesla-linked products and other high-risk assets such as Bitcoin and Chinese market-linked structured notes also plunging sharply. Korean investors reel from heavy losses in risky leveraged ETPs The huge losses among Korean investors highlight their appetite for high-risk trading that, at times, has alarmed regulators and brokers. In response to the big losses in some of the riskiest leveraged ETPs listed overseas, Mirae Asset Securities Co., one of South Korea’s largest brokerages, said it would suspend orders for such ETPs last week. Another leveraged exchange-traded fund, listed in the U.S. and offering twice the daily return on Tesla shares, has lost nearly 70% of its value since peaking on Dec. 17. According to depository data, Korean investors owned about $1.5 billion of the fund on Wednesday, or 43% of its total assets. Leveraged ETPs have become all the rage worldwide, issued in huge numbers by Wall Street firms after post-U.S. election market euphoria. But after a recent pullback in the so-called “Magnificent Seven” stocks — over the summer, stocks like Nvidia, Microsoft, Apple, Amazon and Alphabet surged on a wave of economic uncertainty and competition from Chinese tech companies — many of these speculative products are souring. South Korean retail investors, who make up a large share of the trading volume in these kinds of instruments, are feeling the pinch amid this downturn. Many have already suffered painful losses on speculative assets, including Bitcoin and structured notes linked to the Chinese market. Tesla has been particularly popular with South Korean investors since the onset of the pandemic. As of February 21, local traders held approximately 358 billion won ($245 million) in the London-listed Leverage Shares 3x Tesla product. This represented over 90% of the fund’s assets that day. Tesla mania persists in Korea despite heavy losses in leveraged ETPs Some experts believe that despite this downturn, the appetite for leveraging Tesla-specific products remains strong. “Tesla has always been one of the most favourable stocks among Korean investors, and this craze has also naturally led to the purchase of leveraged Tesla products such as TSL3,” said Bora Kim, APAC head of strategy of ETP provider Leverage Shares. He also said the extreme volatility of Tesla shares makes them appealing to short-term traders. Tesla-linked ETPs are not alone in struggling, as leveraged ETFs across the board have had a tough time. The T-REX 2X Long MSTR Daily Target ETF (MSTU), an exchange-traded fund that offers investors leveraged exposure to the stock of Strategy (formerly MicroStrategy), is also down about 81% since its November peak, according to The Kobeissi Letter . In just three trading days, it was down 40%—the same devastating trend plaguing funds tied to Tesla. Source:Kobeissi Letter Leveraged ETFs are always riskier, and in volatile periods, they do worse than plain old ETFs because of the costs associated with daily rebalancing and the use of derivatives instead of the underlying stocks. In a study by GSR Markets, leveraged ETFs often lag similar strategies in volatile markets by more than 20%. South Korean traders face reckoning as Tesla’s decline tests high-stakes bets With pressure on Tesla’s stock, South Korean retail investors may have to re-evaluate their highly leveraged trading habits. The maker of electric vehicles is in choppier waters, facing headwinds that include increased competition, patchy demand, and macroeconomic pressures. With regulators taking more precautionary steps and brokerages pulling back on risky products, South Korean investors may need to reassess their approach. Will they double down on their aggressive bets on Tesla and other leveraged assets, or will they seek safer, more conservative investments moving forward? If the slide continues, more Korean investors may be staring at steep losses, adding to wider concern about speculative trading in the country. With regulatory scrutiny mounting and brokers taking preventative measures, it will be interesting to see if South Korean investors will continue their all-out assault on leveraged bets on Tesla or temper their approach for more conservative investments. Cryptopolitan Academy: Want to grow your money in 2025? Learn how to do it with DeFi in our upcoming webclass. Save Your Spot
Boerse Stuttgart collaborates with DekaBank to offer crypto transactions for institutional clients. This partnership emphasizes security and compliance in cryptocurrency infrastructure. Continue Reading: Boerse Stuttgart Partners with DekaBank to Offer Crypto Transactions for Institutions The post Boerse Stuttgart Partners with DekaBank to Offer Crypto Transactions for Institutions appeared first on COINTURK NEWS .
In a development capturing global attention, reports are surfacing about a planned White House meeting between U.S. President Donald Trump and Ukrainian President Volodymyr Zelensky. This significant encounter comes at a crucial juncture, given the existing geopolitical landscape and the importance of US Ukraine relations . What could be the potential implications of this summit, and how might it reshape international dynamics? Let’s delve into what we know so far and what to expect from this high-stakes diplomatic engagement. Why is the White House Meeting Important? A White House meeting between the leaders of the United States and Ukraine carries considerable weight on the international stage. Here’s why this particular meeting is generating buzz and anticipation: Strengthening Bilateral Ties: Meetings at this level are fundamental for reinforcing and nurturing US Ukraine relations . They provide a platform for direct dialogue, allowing both nations to address mutual interests, concerns, and opportunities for collaboration. Geopolitical Significance: Ukraine’s strategic location makes it a key player in Eastern European geopolitics. Discussions during the White House meeting are likely to touch upon regional security, stability, and the ongoing dynamics with neighboring countries. International Diplomacy in Action: Such summits are prime examples of international diplomacy at work. They represent a commitment to dialogue and negotiation as tools for resolving complex issues and fostering understanding between nations. Economic and Political Agendas: Beyond the symbolic importance, the Zelensky Trump summit will likely involve concrete discussions on economic cooperation, political reforms in Ukraine, and U.S. support for Ukraine’s sovereignty and territorial integrity. What Could Be on the Agenda of the Zelensky Trump Summit? While the official agenda is yet to be fully disclosed, we can anticipate several key topics to be at the forefront of the Zelensky Trump summit . These discussions are crucial for shaping the future trajectory of US Ukraine relations and broader geopolitical stability . Potential Agenda Items Why It Matters Security and Defense Cooperation Addressing ongoing regional conflicts and ensuring Ukraine’s security is paramount for geopolitical stability in Eastern Europe. Economic Assistance and Investment U.S. support can play a vital role in bolstering Ukraine’s economy and attracting foreign investment, strengthening US Ukraine relations on economic fronts. Political Reforms and Anti-Corruption Efforts The U.S. often emphasizes democratic reforms and anti-corruption measures in its international diplomacy , and Ukraine is likely to be no exception. Energy Security Discussions around energy independence and diversification are crucial for Ukraine’s sovereignty and its role in European energy markets, impacting regional geopolitical stability . Challenges and Opportunities in US Ukraine Relations The relationship between the United States and Ukraine, while generally positive, is not without its complexities. Understanding both the challenges and opportunities is essential in assessing the potential outcomes of the White House meeting and the future of US Ukraine relations . Challenges: Historical Context: Navigating historical complexities and past political dynamics is always a factor in international diplomacy . Internal Reforms in Ukraine: The pace and depth of reforms within Ukraine are constantly under scrutiny, impacting the nature of US Ukraine relations . External Pressures: Both nations operate within a complex web of international pressures and influences, affecting their bilateral engagements and broader geopolitical stability . Opportunities: Deepening Strategic Partnership: The White House meeting offers a chance to solidify and deepen the strategic partnership between the U.S. and Ukraine. Economic Growth and Collaboration: Increased economic cooperation can bring mutual benefits and strengthen US Ukraine relations . Contribution to Global Security: Joint efforts can contribute to regional and global security, enhancing geopolitical stability and demonstrating effective international diplomacy . Actionable Insights and Future Outlook As we await further details and the actual unfolding of the Zelensky Trump summit , here are some actionable insights to consider: Monitor Official Statements: Pay close attention to official statements and readouts from both the U.S. and Ukrainian governments following the White House meeting . These will provide the most accurate insights into the outcomes and agreements reached. Analyze Expert Commentary: Seek out analysis from foreign policy experts and think tanks specializing in US Ukraine relations and Eastern European affairs. Their perspectives can offer deeper understanding and context. Observe Geopolitical Reactions: Keep an eye on how other nations and international bodies react to the summit and its outcomes. This will provide a broader picture of the impact on geopolitical stability and international diplomacy . In conclusion, the upcoming White House meeting between President Trump and President Zelensky is a pivotal event with the potential to significantly shape US Ukraine relations and influence geopolitical stability in the region. As details emerge from this crucial act of international diplomacy , the world will be watching closely to understand the implications for global affairs and the future of this important bilateral partnership. The Zelensky Trump summit represents more than just a meeting; it’s a moment that could redefine alliances and strategies on the world stage. To learn more about the latest geopolitical trends, explore our article on key developments shaping global economic stability and international relations.
FTX creditor repayments being facilitated a little over 2 years after FTX’s shock collapse is a “win” given all the jurisdictional issues that were involved, an industry pundit said.
The popular payments platform Zelle is preparing to implement a major change to its mobile app services. The platform says it’s preparing to terminate all transaction capabilities for businesses and consumers on the firm’s standalone mobile app, officially ending all services after March 31st. The app, which processed approximately $20 billion in transactions in 2024, will still be available for download – but it will only offer educational details about scams and fraud and provide a list of the more than 2,200 banks and credit unions that utilize Zelle. Customers’ transaction records will also be removed from the app. The change will particularly affect customers at financial firms like Fidelity, which does not offer Zelle to people with cash management accounts. Zelle says it’s making the change due to the popularity of Zelle within US banks and financial institutions. “When Zelle first launched, we also created a standalone Zelle-branded app for consumers whose banks or credit unions had not yet joined the network. With the strong growth of adoption by banks and credit unions, we now see just ~2% of transactions on the standalone app. As a result of our growth, and because most people are now using Zelle in their financial institution’s mobile app or website, we are making a change to the Zelle standalone app.” Early Warning Services (EWS), which is owned by seven major US banks including JPMorgan Chase, Bank of America and Wells Fargo, says it’s reaching out “directly and repeatedly” to users of the standalone app to make sure they’re are aware of the pending changes. Don't Miss a Beat – Subscribe to get email alerts delivered directly to your inbox Check Price Action Follow us on X , Facebook and Telegram Surf The Daily Hodl Mix Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any losses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing. Generated Image: Midjourney The post Zelle Prepares To Terminate Transactions on Mobile App, Pushing Popular Service Exclusively To Major US Banks and Financial Institutions appeared first on The Daily Hodl .
Hold onto your hats, crypto enthusiasts! The Bitcoin market just witnessed a massive movement that has everyone talking. In a jaw-dropping hour, over $1 billion worth of Bitcoin vanished from major cryptocurrency exchanges. According to data from CryptoQuant, a staggering 9,148.64 BTC – equivalent to a cool $1 billion – was pulled out of these platforms. This isn’t just pocket change; it’s a monumental shift that’s got analysts and investors alike scratching their heads and wondering, “What does this mean for Bitcoin?” Let’s dive into the details of these significant Bitcoin withdrawals and explore the potential implications for the crypto market. Why are These Massive Crypto Exchange Outflows Happening? The numbers are truly eye-opening. CryptoQuant’s data reveals a breakdown of where this Bitcoin leaving exchanges action originated: Coinbase Prime: A hefty 3,074 BTC departed from Coinbase Prime. Binance: Binance saw 2,652 BTC move out. Coinbase Advanced: Another 1,827 BTC was withdrawn from Coinbase Advanced. These aren’t your average retail traders making small withdrawals. CryptoQuant suggests that these large-scale crypto exchange outflows from platforms that don’t typically handle custody or OTC (Over-The-Counter) trading could indicate new wallet transfers. But what does that actually mean? Here’s a simplified breakdown of potential reasons behind such significant BTC withdrawals : Institutional Accumulation: Large entities or institutions might be accumulating Bitcoin, moving it off exchanges into their own secure wallets for long-term holding. This is often seen as a bullish signal, suggesting strong conviction in Bitcoin’s future. Shifting to Cold Storage: Investors might be moving their Bitcoin to cold storage solutions for enhanced security. Cold storage, like hardware wallets, keeps your crypto offline, significantly reducing the risk of online hacks. OTC Deals: While CryptoQuant mentioned exchanges not supporting OTC, it’s still possible that these withdrawals are related to larger OTC deals being settled off-exchange. De-risking from Exchanges: In light of past exchange collapses and security concerns, some investors may be proactively removing their Bitcoin from exchanges to minimize potential risks associated with platform vulnerabilities or regulatory uncertainties. What Does a Billion Dollar Bitcoin Outflow Signify for the Market? A billion dollar Bitcoin outflow in a single hour is not just a blip on the radar; it’s a seismic event that can ripple through the entire crypto market. So, what are the potential implications? Reduced Selling Pressure: When Bitcoin is withdrawn from exchanges, it’s generally considered to be moving into longer-term storage, effectively reducing the immediate supply available for trading. This decrease in supply can potentially lead to reduced selling pressure and, consequently, upward pressure on Bitcoin’s price. Bullish Sentiment Indicator: Large withdrawals are often interpreted as a sign of bullish sentiment. Investors wouldn’t move significant amounts of Bitcoin off exchanges unless they anticipated holding it for the long term and potentially expecting price appreciation. Potential Price Volatility: While reduced supply can be bullish, such large movements can also contribute to price volatility, especially in the short term. The market may react to these outflows with uncertainty before settling into a new equilibrium. Institutional Interest Confirmation: Sustained periods of large Bitcoin withdrawals could be a strong indicator of growing institutional interest and adoption. Institutions tend to make larger, longer-term investments, and moving Bitcoin into custody solutions is a characteristic of their investment strategy. Could This Be a Bullish Signal for Bitcoin? Many analysts are indeed viewing these massive Bitcoin withdrawals as a potentially bullish signal. The logic is straightforward: if large holders are removing Bitcoin from exchanges, they are likely not planning to sell it anytime soon. This reduces the available supply on exchanges and signals a longer-term holding strategy. However, it’s crucial to remember that the crypto market is complex and influenced by numerous factors. While these crypto exchange outflows are noteworthy, they are just one piece of the puzzle. Other factors, such as macroeconomic conditions, regulatory developments, and overall market sentiment, also play significant roles in Bitcoin’s price action. Actionable Insights: Monitor Exchange Balances: Keep an eye on exchange balances and withdrawal trends. Significant and sustained outflows can be an indicator of shifting market sentiment and potential price movements. Track Institutional Activity: Look for news and data related to institutional Bitcoin adoption and custody solutions. Increased institutional involvement often correlates with bullish market phases. Stay Informed, Stay Vigilant: The crypto market is dynamic. Stay updated on market news, analyze data from reputable sources like CryptoQuant, and make informed decisions based on a comprehensive understanding of the market landscape. Conclusion: A Billion Dollar Question – Where is Bitcoin Headed? The billion dollar Bitcoin question remains: where is all this Bitcoin going, and what does it truly mean for the future? While the immediate impact of these Bitcoin leaving exchanges is still unfolding, the sheer magnitude of these withdrawals cannot be ignored. It’s a potent reminder of the ever-evolving dynamics of the cryptocurrency market and the significant shifts that can occur in the blink of an eye. Whether this is the start of a new bullish phase, a strategic repositioning by large holders, or something else entirely, one thing is certain: the crypto world will be watching closely to see what happens next. This massive outflow certainly injects a dose of excitement and speculation into the market, leaving us all pondering the next chapter in Bitcoin’s incredible journey. To learn more about the latest Bitcoin trends, explore our article on key developments shaping Bitcoin price action.
Ethereum, being a top altcoin, lost its key support level of $2,600 and has fallen below its next crucial level. Ripple’s price also failed to trade above the $2.35 resistance zone, which has seen the XRP price movement start a fresh dip. On the other hand, Binance Coin has shown impressive resilience amid the recent market downturn. Meanwhile, a new DeFi is already attracting massive interest from investors. The blockchain-based payment platform Remittix (RTX) maintains its position as a potential top altcoin to buy by addressing real-world payment hurdles globally. Its PayFi features and functional orientation have seen the RTX price rally to $0.0694, having surged by over 362%. Ethereum Price Prediction: Will ETH Fall Below $2,100 As the second largest crypto by market cap, Ethereum's attempts to hold its current range are failing as analysts predict more incoming dips. Following the recent Bybit hack, the crypto sector market experienced a market correction that sent many cryptos below key support levels. Bitcoin price dipped below the $90,000 level for the first time since November 2024. Ethereum, a top altcoin, was also not left out, recording a weekly dip of over 22% and it failed to sustain its key $2,600 support level after the market crash resumed on Monday. Crypto analyst Ali Martinez had previously warned that this support level was key for the altcoin’s bullish trend continuation, and failing to hold it could send the price of Ethereum to the $2,400 mark and below. Ethereum bearish flag risks dipping to $2,100 | Source: Carl Runefelt on X After the dip, the analyst stated that the $2,345 level was Ethereum’s next critical support zone. However, the ETH token failed to hold this level on Wednesday, dropping to $2,300. Analyst Carl Runefelt also cautioned about the top altcoin dipping nature, suggesting that Ethereum risked dropping below the $2,180 level with support near the $2,000 level. Ripple Price Wobbles at $2.00: Will Bulls Step In? The price of XRP has dipped below the $2.12 support level to enter a bearish zone. A low has been formed at $2.02 as the altcoin price struggles to remain above the $2.00 level. This Ripple price movement points at many bearish signals that could see the XRP token deep even further. XRP price movement | Source: CoinMarketCap On the upside, the price of XRP could face resistance near the $2.12 level, with the first major resistance near the $2.20 level. However, there is also a key bearish trend line forming with resistance at $2.20 on the hourly chart. If XRP fails to clear this resistance level, it could continue dipping further with support near the $2.02 level with major support at $2.00 If the downside break and a close below the $2.00 level is achieved, the price of Ripple might witness another decline towards the $1.96 support. However, crypto analyst Ali Martinez also suggests that the altcoin could be gearing up for a relief rally as the TD sequential indicator flashes a buy signal. Binance Coin Shows Resilience Amid Market Dip Despite a significant dip in Binance Coin price movement after struggling to surpass the $700 level earlier this month, the BNB token has demonstrated key indicators that suggest it might be primed for a rebound. In the 2024 bull market, BNB faced several key market events, including the Grayscale GBTC sell-off and the Federal Reserve policy adjustments. Despite these hurdles, Binance Coin demonstrated resilience. Recently, the price of Binance Coin faced significant selling pressure, as its price dropped below the $600 level, touching a low of around $578, with Ali Martinez's previous post suggesting it could retrace to $380 or drop to $214. However, buyers quickly stepped in, pushing the price above the $580 level. Binance Coin price movement | Source: CoinMarketCap If the price of Binance Coin maintains the $580 level, there could be a rally towards higher resistance levels, such as the $647 and $685. However, the RSI has dipped to 36, suggesting the altcoin is nearing an oversold threshold. If the selling pressure intensifies and the BNB price fails to sustain a move above $565, a critical support level, it could face more dips toward $500. Remittix (RTX) Price Records An Over 362% Rally While crypto was meant to redefine global finance, spending digital assets in the real world is still a challenge. Financial institutions globally are tightening restrictions on crypto transactions, making it hard for users to access funds. However, Remittix (RTX) offers a solution that will ensure users can easily move their crypto tokens into fiat without the existing banking limitations. Remittix holds the potential to operate outside centralized financial control. Moreover, businesses also get to benefit from Remittix Pay API. This feature will allow businesses to embrace crypto payments and convert them to over 30-plus fiat currencies. This move could position Remittix as a top altcoin in 2025, having already recorded an over 362% price rally. Moreover, Remittix distinguishes itself through its functional merits. The asset delivers real-tangible service besides holding a significant market value. This platform exists to provide meaningful benefits to users who need its services. To start with, it eliminates intermediaries from international money transfers while delivering faster and more affordable services. Its presale success demonstrates the project’s rising consumer base. With such momentum, Remittix price could record 5000% gains in 2025, with over 500M RTX tokens already sold. Its scalability also makes it stand out from other altcoins, including Ethereum, which suffers from network congestion. With a current price tag of $0.0694 and over $13M in presale funding, Remittix is set to continue recording more gains in 2025, offering early investors the opportune chance to earn higher ROI. Will Remittix Grab The Top Altcoin Throne from Ethereum Ripple, and Cardano Ethereum and Ripple's bearish outlook could lead to more dips in the coming days as the two altcoins near an oversold level. However, Binance Coin's market resilience despite the bearish outlook could help the token regain an uptrend momentum backed by its bulls. Similarly, Remittix presents itself as the ideal choice among elite altcoins like Ethereum, Ripple and Binance coins, as it delivers both promising value and real-world usefulness. Join the Remittix (RTX) presale and community: Join Remittix (RTX) Presale Join the Remittix (RTX) Community Disclaimer: This is a sponsored press release and is for informational purposes only. It does not reflect the views of Crypto Daily, nor is it intended to be used as legal, tax, investment, or financial advice.
Market Overview: Bitcoin and XRP Show Resilience Amid Market Fluctuations Bitcoin (BTC) is trading at $84,743, reflecting a 2.54% decrease. Similarly, XRP has declined to $2.18, marking a 3.54% drop. In contrast, OFFICIALMAGACOIN is capturing significant attention, with its presale successfully raising over $3.7 million, indicating robust investor confidence. THE NEXT 1000X CRYPTO – CLICK HERE TO JOIN NOW! Altcoins with Potential for Exponential Growth While established cryptocurrencies like Solana (SOL) and XRP have shown resilience, emerging altcoins present opportunities for exponential gains. Here are five altcoins to watch: OFFICIALMAGACOIN : With a presale price of $0.0002165, OFFICIALMAGACOIN has garnered significant investor interest, raising over $3.7 million. Analysts project a potential surge to $1 by 2025, representing a remarkable growth opportunity. Solana (SOL): Currently trading at $137.25, Solana offers a high-performance blockchain platform known for its scalability and speed. Kaspa (KAS): Valued at $0.084781, Kaspa is a proof-of-work cryptocurrency focusing on rapid block intervals and high throughput. TRON (TRX): At $0.226512, TRON aims to decentralize the internet with its blockchain-based operating system. XRP (XRP): Priced at $2.18, XRP facilitates fast and low-cost international money transfers. Comparative Snapshot Cryptocurrency Current Price Growth Potential OFFICIALMAGACOIN $0.0002165 High Solana (SOL) $137.25 Moderate Kaspa (KAS) $0.084781 Moderate TRON (TRX) $0.226512 Moderate XRP (XRP) $2.18 Moderate Why OFFICIALMAGACOIN Stands Out Record-Breaking Presale: Surpassing $3.7 million, reflecting strong market trust. Strategic Positioning: Poised to capitalize on current market trends and investor sentiment. Exclusive Bonuses: Early participants can leverage the MAGA50X code for a 50% bonus on investments. DON’T MISS OUT ON THIS OPPORTUNITY—INVEST IN OFFICIALMAGACOIN TODAY! As the crypto landscape evolves, while established players like Solana and XRP prepare for potential surges, OFFICIALMAGACOIN presents a compelling case for investors aiming to capitalize on emerging opportunities with high growth potential. Website: officialmagacoin.io X/Twitter: https://x.com/officialMAGAx Continue Reading: $500 Investment to 7 Figures? BITCOIN, XRP, and OFFICIALMAGACOIN Are the Top Picks for 2025!