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Gotbit founder sentenced to 8 months for crypto wash trading scam
Aleksei Andriunin, founder and CEO of crypto market maker Gotbit, has been sentenced to eight months in prison for his role in a multi-million-dollar wash trading scheme that inflated trading volumes for various cryptocurrencies. The sentencing was handed down by U.S. District Court Judge Angel Kelley in Boston, following Andriunin’s guilty plea in March 2025 to wire fraud and conspiracy to commit market manipulation. The 26-year-old, a dual citizen of Russia and Portugal, was arrested in Portugal in October 2024 and extradited to the U.S. in February 2025. As part of a plea agreement, Andriunin agreed to forfeit $23 million in stablecoins held in crypto wallets linked to Gotbit. Gotbit Consulting LLC, the firm he founded, was also sentenced to five years’ probation and is required to cease operations. The company admitted to offering wash trading services between 2018 and 2024, manipulating trading volumes to help client tokens appear more active and gain listings on exchanges and CoinMarketCap. You might also like: $8.2 million company with stock down 99.8% to invest $500 million in crypto, 50% down since Jan. What could possibly go wrong? Gotbit’s blockchain evasion Prosecutors said Gotbit used multiple accounts to avoid blockchain detection and received tens of millions of dollars in client payments for these services. Tokens involved in the scheme included Robo Inu and Saitama. Company directors Fedor Kedrov and Qawi Jalili were also indicted. Gotbit is the third crypto market maker charged in relation to illegal trading practices, following actions against MyTrade and CLS Global, according to the Justice Department. The Securities and Exchange Commission has filed a separate civil enforcement action against Gotbit for securities law violations. As part of his sentence, Andriunin will also serve one year of supervised release and is barred from crypto-related activity during that period. You might also like: Invesco and Galaxy register Solana ETF trust in Delaware

crypto.news 2025-06-13 19:11
Pi crypto value rebounds: key levels to watch
After a dramatic drop below the value area low, Pi Network has shown strong signs of recovery, bouncing from its swing low with aggressive demand. The buying wick printed on the latest daily candle confirms a strong reaction from what appears to be a maximum value zone. Pi Network’s ( PI ) price action took a steep hit as it fell below the value area low and traded directly into a macro swing low support. However, this flush was met with immediate demand, leading to a sharp intraday recovery and a strong close back above high-timeframe support. The technical bounce was characterized by a prominent buying tail, a classic signature of value-based demand, now placing Pi in a potential reversal zone Key technical points Break Below Value Area Low: Price dipped under the VAL and found strong buy-side pressure at the swing low region. Impressive Recovery Candle: The wick and close above support confirm aggressive market interest and demand. Reclaiming the Value Area Low: Sustained closes above this level confirm validation of the demand zone. Key Resistance at $0.65: Breaking this dynamic resistance would confirm a trend shift and open room for a move toward $0.80. PiNetwork (6H) Chart, Source: TradingView The drop below the value area low initially looked like a breakdown, but Pi Network’s price quickly reversed after reaching a key swing low, a high-interest liquidity pocket. The strong buying tail formed on the candle reflects not only rejection of lower prices but also signals the presence of maximum value buyers stepping into the market. Price has now closed back above the high-timeframe support and is showing signs of acceptance above the value area low. This reclaim is critical. From a market profile perspective, acceptance back above the value area low after a failed breakdown often signals a trap and provides high-probability long setups. You might also like: Bitcoin is oversold after Israeli strike on Iran: analyst The next obstacle for bulls is clear: dynamic resistance near $0.65. A clean break above this level would shift short-term market structure into a higher high formation, signaling early-stage reversal potential after the sharp sell-off. If Pi Network can breach this resistance and sustain momentum, the next magnet will likely be the $0.80 level, aligning with the upper boundary of the trading range and value area high. What to expect in the coming price action As long as Pi Network holds above the value area low and builds support on higher time frames, price remains positioned for a move toward $0.65 and then $0.80. The sharp bounce from maximum value confirms that buyers are active, and a structural reversal could be underway if dynamic resistance breaks. Read more: SharpLink bets big on ETH with $463M treasury pivot

crypto.news 2025-06-13 19:11
Anthony Pompliano’s ProCapBTC Pursues Massive $750M Bitcoin Investment via SPAC
BitcoinWorld Anthony Pompliano’s ProCapBTC Pursues Massive $750M Bitcoin Investment via SPAC Big news is circulating in the crypto world, and it involves a familiar name: Anthony Pompliano . The founder of Pomp Investments is reportedly embarking on an ambitious venture aimed squarely at acquiring a substantial amount of Bitcoin. This development signals a potential new avenue for significant Bitcoin investment , particularly through traditional financial structures. Who is Anthony Pompliano and What’s ProCapBTC’s Plan? Anthony Pompliano, widely known as “Pomp,” is a prominent figure in the cryptocurrency space. He’s an entrepreneur, investor, and commentator who has been a vocal advocate for Bitcoin and digital assets for years. His firm, Pomp Investments, focuses on building and investing in companies within the crypto industry. Now, according to a report by the Financial Times, Pomp is set to take the helm as CEO of a new public entity called ProCapBTC . The core mission of ProCapBTC is straightforward yet significant: to raise a substantial war chest specifically for purchasing Bitcoin. The target amount is a staggering $750 million. This move positions ProCapBTC as a dedicated vehicle for large-scale exposure to the leading cryptocurrency, potentially attracting investors who prefer accessing digital assets through publicly traded companies. Leveraging a Crypto SPAC for the Bitcoin Investment How does ProCapBTC plan to raise this considerable sum? The strategy involves merging with a special purpose acquisition company (SPAC) named Columbus Circle Capital 1. This mechanism is essentially a shortcut for a private company (ProCapBTC) to become publicly traded without going through the traditional initial public offering (IPO) process. The SPAC merger is intended to facilitate the capital raise in two parts: $500 million: Expected to be raised through equity, likely from investors participating in the SPAC transaction. $250 million: Planned through convertible debt, which can later be converted into equity under certain conditions. This approach highlights the increasing use of financial engineering, including the Crypto SPAC structure, to bridge the gap between traditional finance and the burgeoning digital asset market. SPACs offer speed and a degree of certainty compared to traditional IPOs, although they also come with their own set of risks and complexities. The Significance of a $750M Institutional Bitcoin Purchase A planned $750 million purchase of Bitcoin is a significant event, regardless of who is behind it. When a public company is specifically formed and capitalized with the explicit goal of holding Bitcoin, it underscores the growing trend of Institutional Bitcoin adoption. This isn’t just another fund allocating a small percentage; it’s a company built around the asset itself. Why is this happening? Several factors likely contribute: Demand: There is clear and growing demand from institutional investors and potentially retail investors via public markets for exposure to Bitcoin. Accessibility: A public company structure makes it easier for many types of investors, including institutions with strict mandates, to gain exposure compared to buying and holding Bitcoin directly. Belief in Bitcoin: Pomp and his associates are strong believers in Bitcoin’s long-term value proposition as a store of value and digital gold. If successful, ProCapBTC would join a growing list of publicly traded companies holding substantial amounts of Bitcoin on their balance sheets, although its model appears to be primarily focused on being a Bitcoin acquisition vehicle rather than an operating business that happens to hold Bitcoin. Challenges and Opportunities for ProCapBTC While the plan is ambitious, executing a $750 million Bitcoin investment through a SPAC merger isn’t without its hurdles. Potential challenges include: Market Volatility: The price of Bitcoin is notoriously volatile. The value of ProCapBTC’s holdings would fluctuate significantly, impacting its share price. Regulatory Environment: The regulatory landscape for cryptocurrencies and public companies dealing with them is still evolving. Execution Risk: Completing the SPAC merger and successfully raising the targeted $750 million requires navigating complex financial and legal processes. Premium to NAV: Publicly traded Bitcoin holding companies often trade at a premium or discount to the actual value of the Bitcoin they hold (Net Asset Value – NAV), which can add another layer of complexity for investors. However, the opportunities are also significant. If successful, ProCapBTC could become a major player providing accessible exposure to Bitcoin for a wide range of investors. The involvement of a well-known figure like Anthony Pompliano could lend credibility and attract investor interest. What to Watch For For those interested in this development, several key milestones are worth monitoring: Completion of the SPAC merger with Columbus Circle Capital 1. Successful execution of the $750 million capital raise (equity and debt). Confirmation of Pomp’s role as CEO. Details regarding the timing and strategy for the actual Bitcoin investment purchases. This initiative by ProCapBTC , led by Pomp, is a clear indicator of the continued drive to integrate digital assets into traditional financial frameworks and facilitate large-scale Institutional Bitcoin adoption. Conclusion The reported plan for Anthony Pompliano to lead ProCapBTC in a $750 million Bitcoin investment via a Crypto SPAC merger is a compelling development in the ongoing story of Institutional Bitcoin adoption. It represents a bold attempt to create a dedicated, publicly traded vehicle for significant Bitcoin exposure. While challenges exist, the potential for providing traditional investors with easier access to the world’s leading cryptocurrency is substantial. This move underscores the growing confidence in Bitcoin as a long-term asset and the innovative ways the market is finding to meet investor demand. To learn more about the latest Bitcoin trends, explore our article on key developments shaping Bitcoin institutional adoption. This post Anthony Pompliano’s ProCapBTC Pursues Massive $750M Bitcoin Investment via SPAC first appeared on BitcoinWorld and is written by Editorial Team

Bitcoin World 2025-06-13 19:10
Dogecoin Eyes $10 Target Amid Emerging Competition from Little Pepe’s Innovative Meme Coin Project
Dogecoin (DOGE) is capturing renewed attention with ambitious $10 price targets amid growing ETF speculation and social media momentum. Meanwhile, Little Pepe (LILPEPE), a zero-tax meme token launching on a

CoinOtag 2025-06-13 19:07
XRP Leaves Solana in Dust Amid This Metric Surge: Details
Capital rotating faster into XRP

U.Today 2025-06-13 19:07
SharpLink Acquires $463M in Ether, Shares Remain 66% Lower
SharpLink Gaming (SBET), the public firm pivoting to a crypto treasury strategy focused on Ethereum, revealed on Friday it acquired 176,271 ether ETH for nearly $463 million. The purchase makes the firm the largest ETH holder among publicly traded companies, SharpLink said in a press release . The company tapped its $1 billion at-the-market (ATM) common stock share facility for $79 million to help fund the ETH acquisition. The ETH purchase announcement came on the heels of a Thursday regulatory filing that potentially enabled investors in the firm's private placement round to sell shares, sending stock prices down 70% after market hours. Some speculated that the firm might leaned more heavily into the ATM to announce a bigger larger crypto purchase. Shares remain lower by 66% in Friday action. SharpLink in one of the growing roster of public companies that recently pivoted to add cryptocurrencies to their balance sheets. It raised $450 million earlier this month through a private round from a wide range of investors, including ConsenSys, Galaxy, and Pantera Capital, to buy ETH. Ethereum co-founder and ConsenSys CEO Joseph Lubin also joined the firm as board chairman. Shares exploded 4,300% higher in a bit more than a week following the firm's crypto strategy in May, but have given back more than 90% of the rally this month. After the massive price swings and today's decline, shares still trade around 500% higher than before the treasury pivot. Read more: Ethereum Treasury Firm SharpLink Gaming Plunges 70% – But There May Be a Twist

CoinDesk 2025-06-13 19:05
Bitcoin Remains Above $100K For a Month: Nexchain Gains Huge Momentum in Crypto Presale
Bitcoin’s sustained price above $100K has sent a wave of bullish energy across the entire crypto market. While Bitcoin continues to solidify its position as a store of value, altcoin investors are hunting for the next big breakout. One presale project making waves during this bull run is Nexchain, an AI-powered Layer 1 blockchain that has raised over $4.4 million and is emerging as a standout name in the crypto presale space. Nexchain Crypto Presale Momentum Grows With $4.4M Raised In a sea of token sales, Nexchain is rapidly becoming the leading crypto presale to watch in 2025. The project has already raised $4.4 million in its Stage 18, offering tokens at $0.07 with a projected listing price of $0.30. That’s a promising 429% return on investment (ROI) for early adopters. But Nexchain isn’t just about numbers; it’s built on solid fundamentals. It’s an AI-integrated Layer 1 blockchain capable of processing 400,000 transactions per second, thanks to its hybrid consensus mechanism. It also introduces a unique reward system: holders earn daily gas fee revenue, creating a sustainable incentive model. From a security perspective, Nexchain scores major credibility points. Certik , a leading blockchain security firm, audits the platform. The doxxed team, public roadmap, and an active Telegram and X (formerly Twitter) community demonstrate that Nexchain is here for the long term. With an intuitive 3-click buy process, Nexchain has made it incredibly simple for retail investors to participate in its crypto presale, eliminating the need for technical expertise. In an era where scam concerns prevail, Nexchain stands out with its transparency, usability, and tangible progress. Bitcoin Above $100K Creates Bullish Environment Bitcoin’s strong performance has long been a bellwether for broader market behavior. Now, as it holds above the $100,000 mark for over a month, confidence in the crypto space is soaring. Institutional capital is flowing in again, and retail investors are returning with optimism. In this bullish climate, presales are gaining renewed attention. Investors who missed the early Bitcoin gains are now turning to high-potential ICO opportunities with strong fundamentals and promising upside. This is where Nexchain fits perfectly. The current Bitcoin rally isn’t just boosting BTC; it’s revitalizing the entire altcoin ecosystem. And among hundreds of presales, Nexchain’s performance stands out. While other projects hype up vague promises, Nexchain already offers a testable framework, ongoing development, and verified team credentials. It’s in the right place at the right time, and that’s creating serious momentum in its crypto presale. Why Nexchain May Be a Smart Diversification Move Smart investors know the value of diversifying during bull markets. While Bitcoin remains a blue-chip asset, the real gains in 2025 may come from well-positioned early-stage projects with utility, and that’s exactly what Nexchain offers. Being early in a project like Nexchain means maximizing upside. At $0.07 per token, the potential for exponential growth is substantial, especially when considering the $0.30 listing price and the limited token supply. That’s a powerful incentive for both short-term speculators and long-term believers. Nexchain also brings something BTC doesn’t: real-world blockchain utility. From daily gas-sharing rewards to high-speed Layer-1 architecture, this isn’t a meme token. The transparent roadmap, steady progress updates, and Certik audit give it the credibility many presales lack. In today’s market, many tokens are fueled purely by speculation. Nexchain, however, is a functioning tech with visible milestones, backed by a real team. For those already holding BTC, adding Nexchain to the portfolio may be a smart hedge with huge growth potential. It’s more than hype, it’s a solid diversification play in an increasingly bullish market. Conclusion: Don’t Miss the Final Window Before the Listing Bitcoin’s continued strength has reignited investor interest across the board. But the biggest opportunity may lie in early-stage projects that are already delivering results, and Nexchain is proving to be one of them. With over $4.3 million raised, a working blockchain product, and a Certik-audited foundation, Nexchain is building a track record of transparency and real progress. As its crypto presale nears its final stages, experts are urging investors not to miss out on what could be the last opportunity before its listing on major exchanges. The time to act is now, before Nexchain moves out of presale pricing and into the spotlight. The post Bitcoin Remains Above $100K For a Month: Nexchain Gains Huge Momentum in Crypto Presale appeared first on TheCoinrise.com .

The Coin Rise 2025-06-13 19:04
The $500 mln XRP treasury bet: Will Ripple’s long-term bet pay off?
Ripple’s long-term play is all about utility over hype, and it's finally starting to show.

AMB Crypto 2025-06-13 19:00
Corporate XRP Treasuries Near $1B as Institutions Embrace Crypto
A growing number of public companies are making large investments in XRP, bringing total corporate commitments close to $1 billion. This trend shows rising interest in using blockchain-based assets as part of corporate financial strategies. Trident Digital Leads with Massive XRP Treasury Plan On June 12, Singapore-based Web3 company Trident Digital announced it aims to raise up to $500 million to create a corporate treasury based on XRP. CEO Soon Huat Lim said the move reflects the company’s strong confidence in blockchain technology. He believes it can transform how businesses manage capital and transfer funds across borders. Lim said this initiative will also guide how public companies can responsibly participate in decentralized finance (DeFi). Trident plans to earn returns on its XRP holdings by staking and using them within Ripple’s growing ecosystem. A Growing List of Ripple Treasury Adopters Trident Digital is not alone; other corporate companies have recently made similar moves. Webus International said it would raise $300 million through non-equity funding in May. This capital will be used to build an Ripple treasury for its global chauffeur payments system. VivoPower International recently raised $121 million in private funding to support its XRP-based treasury plan. The company has already invested $100 million in XRP on the Flare Network to broaden its digital asset portfolio. Likewise, US pharmaceutical logistics company Wellgistics secured a $50 million credit line for Ripple-related projects. These actions have brought total Ripple treasury commitments to $971 million, just $29 million away from the $1 billion milestone. These moves are coming as the XRP Ledger gains more traction. The open-source network now supports stablecoins like USDC and tokenized real-world assets. The team behind XRPL is also working to make it more compatible with other blockchains like Ethereum (ETH). At the same time, institutional interest is growing. The U.S. Securities and Exchange Commission (SEC) is reviewing several spot XRP ETF applications, including one from Grayscale. Others like ProShares are also planning to launch a spot XRP ETF . Experts say approval could boost institutional investment and increase XRP’s practical use. XRP Price Remains Flat Despite Activity Despite growing activity in its ecosystem, the coin’s price has stayed mostly flat. According to CoinMarketCap data , it is currently trading at $2.15, down 4.16%, and still 45% below its January peak of $3.80. However, the increasing number of companies holding XRP in their treasuries shows a shift in how businesses view blockchain assets. Firms are starting to treat blockchain assets not just as investments, but as important tools for business and finance. As corporate investments in the Ripple coin approach $1 billion, its adoption in global finance could grow. The post Corporate XRP Treasuries Near $1B as Institutions Embrace Crypto appeared first on TheCoinrise.com .

The Coin Rise 2025-06-13 19:00
Ethereum Foundation’s $2.47 Million ETH Transfer Sparks Speculation on Possible Ecosystem Support Moves
The Ethereum Foundation recently executed a significant blockchain transaction, moving 1,000 ETH valued at approximately $2.47 million, drawing attention across the crypto community. This transfer highlights the Foundation’s ongoing role

CoinOtag 2025-06-13 19:00
SEC Appoints Crypto-Savvy Leaders Signaling Potentially More Bitcoin-Friendly Regulatory Approach
The U.S. Securities and Exchange Commission (SEC) has recently appointed four senior executives, including two with significant expertise in digital assets, signaling a strategic shift under Chairman Paul Atkins. Effective

CoinOtag 2025-06-13 19:00
Ethereum Faces Stress As Israel-Iran Conflict Shakes Sentiment – ETH/BTC Support In Focus
Ethereum faced intense selling pressure earlier today as geopolitical tensions flared following Israel’s attack on Iran, shaking global markets and triggering risk-off behavior across crypto. The sudden spike in volatility pushed Ethereum away from its recent highs, as it retraced after failing to break above the critical $3,000 resistance level. This marks a pivotal moment for ETH, which had shown strong momentum in recent sessions before being hit by the broader market downturn. Related Reading: Ethereum Repeats History – Key Support Holds Again Ahead Of Potential Rally Despite the sharp correction, top analyst Quinten Francois remains optimistic. He pointed to the ETH/BTC pair, which continues to look strong relative to other assets. According to Francois, this pair is currently testing the support line of an ascending triangle—a pattern that often precedes a breakout to the upside if support holds. With Bitcoin holding near its range highs, Ethereum’s performance against BTC could serve as a leading indicator for the broader altcoin market. Now, Ethereum stands at a crossroads. A bounce from current levels could renew bullish momentum and re-establish the $2,800–$3,000 range as the launchpad for higher prices. But failure to hold support may trigger another wave of downside pressure. All eyes are on ETH/BTC as markets brace for what comes next. Ethereum Holds Key Level Against BTC Ethereum has been leading the crypto market with impressive strength since April, posting a remarkable surge of over 100% from its lows near $1,400. This steep recovery highlights Ethereum’s growing momentum, positioning it as a potential frontrunner in triggering the next altseason. The asset’s consistent performance above key support levels and its resilience during market dips have renewed bullish sentiment, with traders increasingly focusing on ETH as the key asset to watch. Many analysts believe Ethereum could be the spark that reignites capital rotation into altcoins. Its breakout from a month-long range, combined with increasing DeFi activity and improving on-chain metrics, has added to the bullish case. However, caution remains. Ongoing geopolitical tensions—particularly the recent escalation between Israel and Iran—are injecting volatility into global markets, including crypto. These developments have disrupted otherwise promising technical setups across the board, leading to uncertainty and risk-off sentiment. Quinten Francois commented on the current climate, noting that “some charts don’t look good, others are holding on by a thread.” However, he singled out the ETH/BTC pair as a relative strength signal, stating that it “still looks good.” This pair is currently testing the support line of an ascending triangle—a structure that, if defended, could pave the way for a continuation of ETH’s dominance over Bitcoin. In this environment, Ethereum’s performance—especially relative to BTC—could determine the broader market’s next phase. If ETH/BTC holds and breaks higher, the door opens for a full altseason run. But a failure to hold could reinforce caution and signal a pause across the crypto market. For now, Ethereum remains the most important chart to watch. Related Reading: Ethereum Tests Previous Resistance As Support – Can Bulls Defend This Level? ETH Faces Sharp Rejection After Tagging Range Highs Ethereum is facing a crucial technical test after a strong rejection near the $2,830 resistance level. The chart shows ETH failing to hold above the highlighted supply zone between $2,700 and $2,830, where sellers stepped in aggressively. This resulted in a sharp breakdown that sliced through the 50, 100, and 200 simple moving averages (SMAs) on the 4-hour timeframe, now positioning ETH around $2,512. What’s more concerning is the spike in volume during the breakdown. This confirms the strength behind the move, signaling panic among bulls and potential distribution by short-term holders. ETH is now holding just above a previous support zone from early June, but the current setup suggests uncertainty and risk of further downside. Related Reading: Ethereum Price Tests Ascending Channel Resistance – Breakout Or Breakdown? Unless Ethereum can reclaim the $2,600–$2,620 area soon, the next likely target could be the $2,400 level, where the next strong demand cluster sits. However, if bulls defend current prices and manage a quick recovery back above the SMAs, this recent move could be interpreted as a liquidity sweep before continuation. Featured image from Dall-E, chart from TradingView

NewsBTC 2025-06-13 19:00

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