Chainlink (LINK), one of the world’s largest altcoins, has left behind a massive previously planned token unlock. In recent hours, the Chainlink development team has added 19 million LINK, or approximately $269 million worth of assets, to circulation in the token unlocking operation it regularly carries out every quarter. According to the data, he transferred 14.875 million LINK, worth $212.9 million, to Binance. On the other hand, the remaining 4.125 million LINK, or $56.2 million, was transferred to a multisig wallet with the short address 0xD50. Related News: Important Development for Surprise Altcoin - Coinbase Files Application with CFTC According to the data, the Chainlink development team has unlocked a total of 176 million LINK since August 2022. This amount corresponds to $ 2 billion at the time, and currently it is equivalent to $ 2.43 billion. 151.3 million of these unlocked tokens were transferred to Binance for an average of $ 11.41. The Chainlink development team currently holds 342.5 million LINK worth $4.7 billion locked in uncirculated supply contracts. Following today’s token unlock, the LINK price reacted with a loss of approximately 5%. Chart showing the decline in LINK price. *This is not investment advice. Continue Reading: Anticipated Altcoin Token Unlocking Hits Huge Token Unlock, Tokens Go Into Circulation – Here’s the Initial Price Reaction
Mike Novogratz highlights rapid growth in tokenization of real-world assets. BlackRock's BUIDL fund surpasses $1 billion, indicating industry momentum. Continue Reading: Mike Novogratz and BlackRock Propel the Future of Tokenization in Finance The post Mike Novogratz and BlackRock Propel the Future of Tokenization in Finance appeared first on COINTURK NEWS .
A Bank of America insider is pleading guilty to boosting a global money laundering conspiracy that aided drug traffickers and other illegal businesses, according to the U.S. Department of Justice (DOJ). The DOJ says former Bank of America employee Rongjian Li was a member of a money laundering and drug trafficking outfit headed by Jin Hua Zhang. According to prosecutors, Li used his position at the bank from 2021 through 2022 to help the criminal organization open several accounts. Zhang’s organization then used the BofA accounts, some of which were registered using forged passports, to launder illicit funds. “As part of his involvement, when the bank’s financial auditing systems flagged or froze accounts for suspicious activity, Li helped Zhang circumvent the bank’s anti-money laundering protocols and move illicit funds elsewhere. In addition, Li was observed sitting next to Zhang at a dinner in New York, where Zhang discussed the different fee percentages he charged various criminal groups for drug trafficking and scams.” Zhang’s organization is believed to have laundered millions of dollars in a span of months, according to the DOJ. “The investigation revealed that, for a fee, Zhang laundered bulk cash for drug dealers and laundered profits from other illegal businesses. In less than a year, Zhang and his organization laundered at least $25 million worth of drug proceeds and funds from other illegal businesses through undercover agents.” Li has pleaded guilty to the charge of conspiracy to commit money laundering. He faces a monetary fine and a prison sentence. “The charge of money laundering conspiracy provides for a sentence of up to 20 years in prison, up to three years of supervised release and a fine of up to $500,000, or twice the amount involved, whichever is greater.” Follow us on X , Facebook and Telegram Don't Miss a Beat – Subscribe to get email alerts delivered directly to your inbox Check Price Action 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 Bank of America Insider Helps Criminals and Illicit Businesses Launder Funds in Massive Global Conspiracy: US Department of Justice appeared first on The Daily Hodl .
Much more support for market is needed
Once the stars of the crypto market, metaverse tokens like MANA, SAND, and AXS have struggled lately.
Recent reports revealed that another member of the US House of Representatives will introduce a new bill on March 14 to codify US President Donald Trump’s executive order for a Strategic Bitcoin Reserve (SBR). This move follows recent efforts by several US lawmakers to formalize and protect Trump’s crypto plan. New Bill Proposes US Bitcoin Reserve’s Protection On Friday, Bloomberg reported that US Representative Byron Donalds will introduce a bill to codify President Trump’s executive order to establish a national Bitcoin (BTC) reserve. The proposed legislation reportedly seeks to formalize Trump’s plan and protect the strategic reserve from potential industry-adverse administrations in the future. According to the report, the bill “would ensure that the reserve and stockpile could not be eliminated by executive action from a future president.” The US President signed an executive order on March 6 to create a strategic BTC reserve and a “Digital Asset Stockpile” within the US Department of the Treasury. The order indicates that these initiatives would be funded by crypto seized from government criminal and civil forfeiture proceedings, including the US’ 200,000 BTC holdings and other digital assets already owned by the Treasury Department. In a statement to Bloomberg, Donalds affirmed that the “Democrats waged a war” on the crypto industry and it “is the time for Congressional Republicans to decisively end.” The legislation requires at least 60 votes in the US Senate and a House majority to pass. The US Representative’s move is the latest in the recent efforts from various US lawmakers to give Bitcoin recognition as a strategic asset at the state and national levels under the new crypto-friendly administration, including Senator Cynthia Lummis’s actions to codify President Trump’s recent executive order. On Tuesday, US Senator Lummis reintroduced her reserve bill, initially introduced last July, in the Senate to implement a BTC purchase program. As reported by Bitcoinist, the bill is co-sponsored by Republican Senators Jim Justice, Marsha Blackburn, Bernie Moreno, Roger Marshall, and Tommy Tuberville. The Boosting Innovation, Technology, and Competitiveness through Optimized Investment Nationwide (BITCOIN) Act, or Bill S954, aims to “ensure the transparent management of Bitcoin holdings of the Federal Government, to offset costs utilizing certain resources of the Federal Reserve System, and for other purposes.” The US Senator highlighted the “landmark legislation that will codify President Trump’s bold vision to establish the United States Strategic Bitcoin Reserve and strengthening our nation’s economic foundation for generations to come.” Lawmakers Split Over Trump’s Crypto Reserve Meanwhile, US Representative Nick Begich also introduced the “Bitcoin Act on 2025,” a companion bill to Senator Lummis’ legislation, to the US House on Tuesday. The legislation, co-sponsored by six Republican Representatives, is “designed to ensure the United States secures its financial independence and maintains its leadership in the global digital economy.” Begich emphasized the need for the United States to establish a formal Bitcoin reserve, like its gold reserves, as “America cannot afford to fall behind in this financial revolution.” Nonetheless, recent reports revealed that other Congress members are opposing President Trump’s crypto plan. Democratic Representative Gerry Connolly recently wrote a letter to Treasury Secretary Scott Bessent, pushing to abandon the strategic reserve plans. The congressman considers , “Such a reserve provides no discernible benefit to the American people but would significantly enrich the President and his donors. It would also constitute unsound fiscal policy by picking winners among currencies via social media and wasting taxpayer dollars.” The letter also asks for the documents and communications about the reserves, soliciting a “detailed list of safeguards that are in place to protect against government officials financially benefiting from the strategic cryptocurrency reserve.”
The recent sentencing of Brooklyn-based podcaster Thomas John Sfraga, known as “TJ Stone,” underscores the ongoing challenges in the cryptocurrency sector. On March 15, a US Federal Court imposed a
A whale, who recently opened a 50x long position on Ethereum (ETH) and was known for intentionally liquidating it, seems to have set his sights on Chainlink (LINK) this time. According to the data, the whale wallet sold 18.36 million LINK worth $1.34 million in the last two hours, incurring a total loss of $512,000, or 2.7%. On-chain data reveals that the average LINK price for the sale was $13.7. In addition, the data shows that this whale also closed long positions for LINK on GMX, and on this platform the whale made a profit of $195,000. On the Hyperliquid platform, the cryptocurrency whale, the LINK whale, closed long positions and converted them into Bitcoin short positions with 40x leverage, and at the time of writing this article, it has an unrealized profit of $290,000. Related News: There is a New Development in the Government Shutdown Crisis in the US This behavior by the whale wallet came after the tokens from Chainlink’s major token unlock entered the market and the BTC price increased by 4%. *This is not investment advice. Continue Reading: The Mystery Giant Whale that Deliberately Liquidated Ethereum with 50x Leverage Closes Long Positions, This Time in Another Altcoin
The cumulative value of ERC20 tokens on Ethereum has flipped the ETH market capitalization. The Ethereum network secures just over $500 billion of value, with 51% allocated to ERC20 tokens, 46% to ETH, 2.5% to NFTs, according to ultrasound.money. ERC20 tokens issued on Ethereum are worth a cumulative market cap of almost $261 billion, compared with ETH’s market cap of $237 billion. To continue reading this as well as other DeFi and Web3 news, visit us at thedefiant.io
Ethereum (ETH) has been stuck in a tight range, trading below $1,900 and above $1,750 after days of heavy selling pressure. The broader crypto market remains under stress, with fear dominating sentiment and keeping ETH from regaining momentum. Related Reading: Dogecoin Network Activity Surges 47% In A Month – What’s Next for DOGE? The downturn is largely driven by macroeconomic uncertainty and escalating trade war fears, which have shaken both crypto and the U.S. stock markets. As investors brace for further volatility, some fear that the market is setting up for a deeper correction. However, not all analysts are bearish. Some believe that a recovery could be on the horizon in the coming months, especially if technical indicators begin to show strength. Top analyst Daan shared insights on X, revealing that Ethereum has been consolidating since the major sell-off and has formed a falling wedge pattern—a bullish formation that could indicate a local trend reversal. For now, ETH remains at risk of further declines, but if this pattern plays out, Ethereum could soon break out of its consolidation range and start building momentum for a recovery. The next few weeks will be crucial in determining whether ETH can stabilize or if more downside is ahead. Ethereum Falling Wedge Could Signal a Reversal Ethereum has lost over 57% of its value, creating a challenging environment for bulls as selling pressure continues. ETH is now trading below a multi-year support level, which has flipped into strong resistance. As long as Ethereum remains below the $1,900–$2,000 range, bulls will struggle to regain momentum, keeping bearish sentiment intact. The entire crypto market has mirrored this weakness, experiencing a significant breakdown alongside the U.S. stock market. Global trade war fears and uncertainty surrounding U.S. President Trump’s policies have further fueled the sell-off in risk assets. Since the U.S. elections in November 2024, macroeconomic volatility and rising uncertainty have driven markets lower. With the U.S. stock market hitting its lowest levels since September 2024, investors remain on edge, questioning if Ethereum has further downside ahead. Despite this bleak outlook, there is some optimism. Daan’s insights suggest that Ethereum has been consolidating since the major drop and has formed a falling wedge pattern. This bullish formation could lead to a local trend reversal if ETH breaks out and holds above resistance. For this potential recovery to materialize, ETH must break above the white zone and reclaim $2,000. If this happens, bulls could start testing higher levels and build momentum for a broader market recovery. However, the ETH/BTC ratio remains near multi-year lows, showing only minor resilience in recent days. Sustained strength is needed before a real reversal can take place. Related Reading: Ethereum Net Taker Volume Signals Huge Selling Pressure – Can Bulls Hold Key Levels? With Ethereum still struggling, the next few weeks will be crucial in determining whether this falling wedge breakout can lead to a meaningful rally or if the downtrend will continue. Bulls Struggle Around $1,900 Ethereum is currently trading at $1,900, after days of struggling below the crucial $2,000 mark. Bulls have lost control, and ETH is now at its lowest levels since October 2023, reflecting the broader market uncertainty and ongoing bearish sentiment. With macroeconomic volatility and trade war fears weighing heavily on risk assets, Ethereum continues to face selling pressure, making it difficult for bulls to build momentum for a recovery. The longer ETH stays below $2,000, the stronger the resistance at this level becomes, pushing buyers further out of the market. For Ethereum to avoid deeper losses, bulls must reclaim the $2,000 mark as soon as possible and establish it as a new support level. A break and hold above this threshold could trigger a recovery rally, allowing ETH to test higher resistance zones. However, losing current levels would leave ETH vulnerable to another drop, potentially retesting support near $1,750 or lower. Related Reading: Bitcoin Lost And Retested The 200-Day MA As Resistance – Here’s What Happened Last Time The next few days will be critical, as bulls need to step in and defend current demand to prevent further downside. If they fail to do so, Ethereum could extend its bearish trend into deeper territory. Featured image from Dall-E, chart from TradingView