GameStop has announced a significant increase in its planned private offering of convertible senior notes, coinciding with its recent major investment in Bitcoin. The company raised its target from $1.75
CoinOtag 2025-06-13 15:34
Disclosure: This article does not represent investment advice. The content and materials featured on this page are for educational purposes only. As Bitcoin edges toward $110k, a new contender, XYZVerse, is drawing attention for its blend of sports fandom and memecoin momentum. Table of Contents XYZ claims G.O.A.T. status: Early investors eye massive returns Bitcoin continues to climb Conclusion As Bitcoin aims for a staggering $110,000, investors are watching closely. Yet, there’s a new meme-inspired token on the horizon that might offer even greater returns. XYZVerse is generating buzz for its immense potential. Could this be the next big thing in cryptocurrency? The following article explores the prospects of XYZVerse and why it might outshine even Bitcoin’s impressive rally. XYZ claims G.O.A.T. status: Early investors eye massive returns XYZVerse (XYZ) is redefining the memecoin space by merging the passion of sports fandom with the explosive world of crypto. Tailored for die-hard fans of football, basketball, MMA, and esports, XYZVerse is more than just a token, it’s a movement built around the spirit of competition and community. With its bold Greatest of All Time (G.O.A.T.) vision, XYZ is rising far above the typical memecoin hype. Its momentum hasn’t gone unnoticed, XYZVerse was recently crowned Best New Meme Project, solidifying its status as a top contender. What makes XYZ stand out? It’s not a fleeting meme, it’s a fully backed project with a committed community and a long-term roadmap designed for real growth. Fueled by the grit and intensity of the sports world, XYZ is charging ahead as the champion-in-the-making. For fans who live at the intersection of sports and crypto, this token is becoming the ultimate badge of honor. XYZ delivers big before listing The presale is heating up, giving early adopters a shot at huge gains: Launch price: $0.0001 Current price: $0.003333 Next stage: $0.005 Final presale price: $0.02 Target listing price: $0.10 With over $14 million already raised, demand is skyrocketing. Those jumping in early stand to benefit the most, with potential returns up to 1,000x once the token hits exchanges. As momentum builds, XYZ is speeding through its presale stages. Early investors are locking in prime prices before the final push. You might also like: Analysts say XYZVerse beats Shiba Inu for new investors Bitcoin continues to climb Source: TradingView Bitcoin ( BTC ) has shown steady growth over the past six months. Its price has increased by 5.89% in that period. In the last month, Bitcoin rose by 4.48%, and over the past week, it gained 2.47%. Currently, Bitcoin trades between $101,837 and $108,318. Technical indicators suggest Bitcoin might rise further. The Relative Strength Index is at 28.41, which means the coin is oversold. The Stochastic oscillator is at 8.47, also indicating oversold conditions. When assets are oversold, they often rebound. The MACD level is negative at -459.49, but may reverse if momentum improves. Bitcoin’s nearest resistance level is at $110,851. If it breaks this level, it could reach the second resistance at $117,332. That would be gains of about 6% and 13% from current prices. On the downside, support levels are at $97,889 and $91,408. These levels could limit losses to around 4% and 10%. The price is close to the 10-day and 100-day simple moving averages, suggesting potential for upward movement. Conclusion Bitcoin targets $110k in the bull run, but XYZVerse’s unique sports memecoin and community focus could offer even greater growth potential. To learn more about XYZVerse, visit the official website , Telegram , and Twitter . Read more: XYZVerse just hit $14m: Analysts say it could flip Solana with a massive surge Disclosure: This content is provided by a third party. crypto.news does not endorse any product mentioned on this page. Users must do their own research before taking any actions related to the company.
crypto.news 2025-06-13 15:31
XRP's recovery could be question of time
U.Today 2025-06-13 15:31
Bitcoin’s institutional narrative looks to be back on track, with spot BTC ETFs attracting more than $1 billion in fresh capital against a backdrop of significant market upheavals triggered by Middle East tensions. On-chain data shows a four-day inflow streak into U.S. spot Bitcoin ETFs, decisively reversing a brief period of outflows and signaling strong institutional appetite. Over $1B in Four Days According to the market intelligence platform Santiment, between June 9 and June 11, the BTC-backed financial instruments raked in north of $970 million . Data from the crypto investment research website SoSoValue corroborated this, revealing that spot Bitcoin ETFs flipped from notable outflows late last week to four straight days of positive inflows. The reversal started on Monday this week, when the ETFs absorbed $386.27 million, followed by a much heftier $431.12 million on Tuesday. This coincided with the news that BlackRock’s IBIT had shattered records by becoming the fastest exchange-traded fund to reach $70 billion in assets under management (AUM), having done it in just 341 days. Flows stayed positive on Wednesday, with an additional $164.57 million entering the regulated BTC investment products. Thursday’s more modest $86.31 million brought the four-day total inflow to $1.07 billion. The surge effectively erased the $278.44 million and $47.82 million in outflows recorded on June 5 and June 6, respectively, pushing cumulative net inflows for all spot Bitcoin ETFs to $45.31 billion and total net assets to $130.26 billion as of June 12. Bitcoin Stumbles Amid Middle East Flare-Up Interestingly, the bullish flows arrived during a sharp market shakeup. On June 13, details emerged, confirming Israel’s missile strike on Iranian nuclear sites, triggering fears of wider conflict in the Middle East. The immediate fallout wiped out more than $190 billion in total crypto market capitalization. Bitcoin alone tumbled from an intraday high of $108,369 to a low of $103,081 within hours. It has since clawed back slightly to about $103,971, but was still down 3.6% over 24 hours at the time of this writing. Despite the turmoil, BTC remains 1% higher than a week ago, edging out a global crypto market that dipped 0.6% over the same period. Still, there are signs the king cryptocurrency’s crown may soon face a challenge. Spot Ethereum ETFs have now posted 19 straight days of net inflows, even overtaking Bitcoin for the first time with a record $240 million in daily net additions on June 11. According to some market watchers, this flip may hint at a subtle shift in investor preference as traders diversify into Ethereum following growing regulatory optimism regarding decentralized finance (DeFi) and clarity around ETH’s classification. The post Institutional Appetite Grows as Bitcoin ETFs Rebound with $1.07B in 4 Days appeared first on CryptoPotato .
Crypto Potato 2025-06-13 15:30
BitcoinWorld Major Leap: Upbit’s Banking Partner Joins Forces for South Korea Blockchain Advancement and Stablecoin Study Big news from South Korea! Kbank, the innovative neobank that serves as the crucial banking partner for the nation’s leading crypto exchange, Upbit, has officially joined the Open Blockchain & Decentralized Identifier Association (OBDIA). This move signals a growing interest from traditional financial institutions in the burgeoning world of blockchain technology and its potential applications, particularly concerning stablecoin regulation Korea . What is the Open Blockchain & Decentralized Identifier Association (OBDIA)? Founded in 2018 with backing from the Ministry of Science and ICT, OBDIA is a non-profit organization dedicated to fostering blockchain development Korea . Its mission revolves around exploring and promoting the use of blockchain technology and decentralized identifiers (DIDs) across various sectors. By bringing together diverse stakeholders, OBDIA aims to facilitate discussion, collaboration, and research in this rapidly evolving field. Purpose: Promote blockchain and DID technology. Establishment: Founded in 2018 with government approval. Membership: Composed of various entities interested in blockchain. Focus Areas: Research, development, policy discussion. Why is Kbank’s Membership Significant for South Korea Blockchain? Kbank is not just any bank; it’s a prominent Korean neobank known for its digital-first approach and, critically, its partnership with Upbit, one of the largest cryptocurrency exchanges globally by trading volume. This partnership is essential for Upbit’s operations, allowing users to deposit and withdraw Korean Won. Kbank’s decision to join OBDIA is significant for several reasons: Bridging Traditional Finance and Crypto: It represents a tangible step by a traditional financial institution into a dedicated blockchain industry group. Direct Engagement: Kbank will now have a direct seat at the table for discussions on blockchain policy and technology alongside other industry players. Focus on Key Areas: Kbank explicitly mentioned that its membership will enable participation in broader discussions, specifically highlighting stablecoin technology and regulatory policy. This engagement is crucial for the future of South Korea blockchain adoption, as it helps build understanding and bridges between the established financial system and the decentralized world. Exploring Stablecoins: What Does This Mean for Upbit’s Banking Partner? The mention of stablecoins is particularly noteworthy. Stablecoins, cryptocurrencies designed to minimize price volatility, often by being pegged to a fiat currency like the Korean Won or the US Dollar, are gaining traction globally. However, they also present complex challenges, especially regarding regulation, consumer protection, and financial stability. By joining OBDIA, Kbank can actively contribute to the dialogue surrounding stablecoin regulation Korea . This involves understanding different stablecoin models (fiat-backed, crypto-backed, algorithmic), assessing their risks and benefits, and exploring how they might integrate with existing financial infrastructure. Kbank’s unique position as Upbit banking partner gives it valuable insight into the practical aspects of crypto-related transactions and user needs, which can inform these discussions. Challenges and Opportunities in Blockchain Development Korea Kbank’s participation in OBDIA underscores both the opportunities and challenges facing blockchain development Korea . Opportunities lie in leveraging blockchain for more efficient payments, identity verification (DIDs), supply chain management, and potentially new financial products like regulated stablecoins. However, significant challenges remain, including: Regulatory Uncertainty: The regulatory landscape for cryptocurrencies and stablecoins is still evolving in South Korea and globally. Technological Integration: Integrating blockchain solutions with legacy banking systems requires significant investment and expertise. Public Perception: Building trust and understanding among the general public is essential for widespread adoption. Kbank’s active involvement in OBDIA’s policy discussions could play a vital role in navigating these challenges and helping shape a clearer path forward for innovation. Actionable Insights: What Should Stakeholders Watch For? This development is a key indicator of the increasing convergence between traditional finance and the crypto space in South Korea. Stakeholders, including crypto users, businesses, and policymakers, should watch for: OBDIA’s Recommendations: Pay attention to any policy recommendations or research papers published by OBDIA, particularly those influenced by Kbank’s input on stablecoins and banking integration. Kbank’s Future Initiatives: Observe if Kbank launches any pilot programs or services leveraging blockchain or stablecoins in the future, potentially in collaboration with Upbit or other partners. Regulatory Updates: Keep informed about regulatory developments regarding stablecoins in South Korea, as input from groups like OBDIA could influence future legislation. A Glimpse into the Future Kbank’s membership in OBDIA is more than just a formality; it’s a strategic move that positions a major Korean neobank at the forefront of blockchain and stablecoin discussions. As the Upbit banking partner , Kbank has a vested interest in the healthy development of the crypto ecosystem. Their engagement with a group focused on blockchain development Korea , particularly on the complexities of stablecoin regulation Korea , suggests a proactive approach to understanding and potentially shaping the future of digital finance in the country. This collaboration between traditional finance and blockchain proponents is a promising sign for the industry’s maturity and integration. To learn more about the latest South Korea blockchain trends, explore our article on key developments shaping blockchain development Korea institutional adoption. This post Major Leap: Upbit’s Banking Partner Joins Forces for South Korea Blockchain Advancement and Stablecoin Study first appeared on BitcoinWorld and is written by Editorial Team
Bitcoin World 2025-06-13 15:30
The Singapore High Court has dismissed a proposed restructuring plan for WazirX. The plan was submitted by Zettai Technologies to address creditor and user claims. Zettai has since filed for a rehearing and is exploring other legal options. The Singapore High Court has declined to approve a proposed restructuring plan for the embattled crypto platform WazirX, marking a major setback for the recovery efforts led by Zettai Technologies. The decision relates to an application for a Scheme of Arrangement that Zettai claimed would address creditor concerns. Update on Proposed Scheme of Arrangement As we shared last week, the Singapore Court has declined Zettai’s application in HC/SUM 940/2025 (“SUM 940”) for the Court’s sanction of Zettai’s proposed Scheme. While we understand this news may bring disappointment to our… pic.twitter.com/fvF5Skl002 — WazirX: India Ka Bitcoin Exchange (@WazirXIndia) June 13, 2025 The application was formally dismissed during a court hearing on June 4, 2025. The court has not yet released the full written grounds for its decision, leaving the path forward for the company and its creditors uncertain. Related: WazirX R… The post Zettai Technologies to Fight Singapore Court’s Rejection of Its WazirX Restructuring Plan appeared first on Coin Edition .
Coin Edition 2025-06-13 15:30
Coinbase Institutional outlines three pivotal trends set to influence the crypto market in the second half of 2025, emphasizing improved macroeconomic conditions, heightened corporate crypto demand, and enhanced regulatory clarity.
CoinOtag 2025-06-13 15:28
TL;DR Meme coins suffered a significant decline today (June 13), with their total market capitalization dropping by 8% in hours. DOGE and SHIB are among the affected ones, heading south by 6-7% each, but SPX and FARTCOIN lead the adverse trend. Memes Bleed Out The cryptocurrency sector and the meme coin niche recorded a substantial resurgence earlier this week. According to CoinMarketCap’s data, the market cap of all the memes reached almost $65 billion on June 11 , but currently , it is hovering around $55 billion. The downtrend was most likely triggered by the latest geopolitical tension caused by the military conflict between Israel and Iran. Some of the worst-affected meme coins include SPX6900 (SPX) and Fartcoin (FARTCOIN). The former is down 22% on a daily scale, while the latter retraced by 17% within that timeframe. SPX Price, Source: CoinGecko Interestingly, those assets were among the best performers during the recent rally. As CryptoPotato reported , SPX became the fifth-biggest meme coin, with its market cap surging well above $1 billion. Other tokens of that type that have posted double-digit losses on a 24-hour basis are Pepe (PEPE), Bonk (BONK), dogwifhat (WIF), Floki (FLOKI), Pudgy Penguins (PENGU), Peanut the Squirrel (PNUT), and many more. On the other hand, lesser-known meme coins such as REKT, AURA, and TST have charted some gains. How Are the Big Shots Doing? Dogecoin (DOGE) – the undisputed leader in the meme coin sector – has also nosedived, albeit posting less substantial losses than the aforementioned tokens . It currently trades at around $0.17, representing a 7% decline for the past 24 hours. Shiba Inu (SHIB) – DOGE’s biggest contender – briefly dipped to as low as $0.0000114, the lowest point since April. As of this writing, the self-proclaimed Dogecoin killer is worth roughly $0.00001170, or a 6% decrease on a daily scale. Meme coins are notorious for their heightened volatility and typically decline more significantly and rapidly than well-established cryptocurrencies like Bitcoin (BTC) or Ethereum (ETH) during periods of uncertainty and market turmoil. Having that said, investors should tread carefully with them, conduct proper research before committing funds, and invest only as much as they are ready to lose. The post Friday the 13th Meme Coin Massacre: SPX and FARTCOIN Plunge by Double Digits appeared first on CryptoPotato .
Crypto Potato 2025-06-13 15:27
BitcoinWorld Stablecoin Regulation: Crucial US Senate Vote Set for June 17 Get ready, the cryptocurrency world is watching closely. A pivotal moment for digital assets is approaching on Capitol Hill. The U.S. Senate has officially scheduled the final vote on key legislation aimed at regulating stablecoins, known as the GENIUS Act, for June 17. This development, reported via Cointelegraph on X, marks a significant step forward in the ongoing effort to integrate digital assets into the existing financial framework while addressing potential risks. The exact timing on June 17 will be determined by Majority Leader John Thune, adding a layer of anticipation to this critical legislative event. What is This US Senate Vote Really About? At its core, this upcoming US Senate vote centers on the GENIUS Act, a piece of crypto legislation designed to bring clarity and structure to the stablecoin market. Stablecoins are a vital part of the digital asset ecosystem, intended to maintain a stable value relative to a specific asset, typically a fiat currency like the U.S. dollar. Unlike volatile cryptocurrencies such as Bitcoin or Ethereum, stablecoins aim to offer price predictability, making them useful for trading, payments, and lending within the crypto space. However, the rapid growth and increasing use of stablecoins have raised concerns among regulators regarding consumer protection, market integrity, and potential risks to broader financial stability. The lack of a clear regulatory framework in the U.S. has been a significant point of discussion for years. The GENIUS Act, if passed, is expected to establish rules for stablecoin issuers, potentially covering areas such as: Reserve Requirements: Mandating what assets stablecoin issuers must hold as reserves and how frequently they must report on these reserves. Licensing and Oversight: Requiring stablecoin businesses to obtain specific licenses and submit to regulatory supervision. Consumer Safeguards: Implementing rules to protect users from potential failures or mismanagement by issuers. Interoperability: Potentially addressing how stablecoins can interact across different platforms and systems. This vote isn’t just procedural; it represents the culmination of extensive discussions, debates, and negotiations among lawmakers, industry stakeholders, and regulatory bodies. Passing this legislation could set a precedent for how other forms of digital asset regulation are approached in the future. Why is Stablecoin Regulation So Crucial Now? Stablecoin regulation has moved from a niche topic to a priority for policymakers globally. Several factors contribute to this urgency: 1. Market Growth and Adoption: The stablecoin market cap has grown significantly, with billions of dollars in value and daily transaction volumes often exceeding those of traditional payment systems. This scale means potential issues could have wider impacts. 2. Potential for Systemic Risk: If a major stablecoin were to fail or lose its peg due to inadequate reserves or poor management, it could trigger instability within the crypto market and potentially spill over into traditional finance, impacting financial stability. 3. Consumer and Investor Protection: Without clear rules, users face risks, including lack of transparency regarding reserves, potential for fraud, or difficulty redeeming stablecoins for fiat currency. Regulation aims to build confidence and protect users. 4. Preventing Illicit Finance: Regulators are concerned that stablecoins could be used for money laundering or other illegal activities. Legislation can impose Know Your Customer (KYC) and Anti-Money Laundering (AML) requirements on issuers. 5. International Harmonization: Other jurisdictions, such as the European Union with its MiCA regulation, are moving forward with comprehensive crypto frameworks that include stablecoins. The U.S. is keen to establish its own rules to maintain competitiveness and influence in the global digital asset landscape. The scheduled US Senate vote on June 17 reflects a recognition that the current regulatory uncertainty is unsustainable. Clarity is needed for businesses operating with stablecoins and for consumers using them. What Could This Digital Asset Regulation Mean for the Market? The passage of the GENIUS Act or similar digital asset regulation could have profound effects across the crypto ecosystem: For Stablecoin Issuers: Increased compliance costs and operational requirements. Potential need to adjust reserve management practices to meet new standards. Enhanced legitimacy and trust, potentially attracting more institutional participation. Clearer rules of the road for innovation and growth. For Users and Investors: Greater confidence in the stability and reliability of regulated stablecoins. Improved transparency regarding reserves and issuer practices. Potential for wider acceptance and use of stablecoins in payments and commerce. Understanding which stablecoins meet regulatory standards will become important. For the Broader Crypto Market: A clear framework for stablecoins could pave the way for regulation of other digital assets. Increased institutional adoption of stablecoins could lead to more capital flowing into the crypto market. Unregulated stablecoins might face significant challenges or be pushed out of the U.S. market. This crypto legislation could reduce perceived risks associated with the asset class as a whole. The outcome of the US Senate vote will be a critical indicator of the U.S.’s approach to integrating digital assets into its financial system. While regulation brings challenges, many in the industry believe that responsible stablecoin regulation is necessary for the long-term health and adoption of the technology, contributing to overall financial stability. What Actionable Insights Should You Consider? As the June 17 date approaches, what should market participants and interested individuals keep in mind? 1. Monitor the Vote Closely: The exact timing determined by Majority Leader John Thune will be key. The vote’s outcome will immediately influence market sentiment and expectations for future crypto legislation. 2. Understand the Details (Once Available): If the GENIUS Act passes the Senate, the specific provisions will matter. How strict are the reserve requirements? What is the role of different regulators (e.g., Federal Reserve, Treasury, state regulators)? 3. Consider the Path Forward: A Senate passage is a major step, but it’s not the final one. The bill would still need to pass the House of Representatives (potentially reconciling differences with any House version) and be signed into law by the President. This process can take time. 4. Evaluate Stablecoin Choices: For users and businesses relying on stablecoins, understanding which issuers are proactively preparing for or are likely to meet new regulatory standards will be important. Regulated stablecoins may gain a competitive advantage. 5. Engage with the Conversation: The development of digital asset regulation is ongoing. Staying informed and participating in discussions (where possible) helps shape the future of the industry. This US Senate vote on stablecoin regulation is more than just political news; it’s a critical event that could redefine the landscape for one of the most widely used applications of blockchain technology, with direct implications for financial stability and the future of digital assets. Concluding Thoughts: A Defining Moment? The scheduling of the final US Senate vote on the GENIUS Act for June 17 marks a potentially defining moment for stablecoin regulation in the United States. This move signifies a serious legislative push to address the opportunities and challenges presented by stablecoins, aiming to enhance consumer protection, ensure market integrity, and contribute to overall financial stability. While the path to final law is still uncertain, the outcome of this vote will provide crucial insight into the direction of U.S. digital asset regulation and its potential impact on the broader crypto market. All eyes will be on the Senate floor as June 17 arrives. To learn more about the latest crypto legislation trends, explore our articles on key developments shaping digital assets regulation. This post Stablecoin Regulation: Crucial US Senate Vote Set for June 17 first appeared on BitcoinWorld and is written by Editorial Team
Bitcoin World 2025-06-13 15:20
Polkadot’s latest governance proposal aims to convert 500,000 DOT tokens into Threshold Bitcoin (tBTC), signaling a strategic move to diversify its treasury with Bitcoin exposure. The plan leverages Hydration’s dollar-cost
CoinOtag 2025-06-13 15:17
The darknet marketplace Huione, also known as Haowang Guarantee, is reportedly continuing operations and even growing in volume, despite its public-facing shutdown last month. A new report published by Chainalysis on June 12 reveals that the illicit Chinese-language platform remains active following the closure of its website and Telegram channels. Huione’s Crypto-Laundering Network Still Thriving Under New Domain On May 13, Huione announced it was shutting down after Telegram banned thousands of associated accounts. This followed the U.S. Treasury’s Financial Crimes Enforcement Network (FinCEN) move to designate Huione as a primary money laundering concern under Section 311 of the USA PATRIOT Act. The proposed designation aims to cut the platform off from the U.S. financial system. However, according to Chainalysis, Huione’s transaction volumes have not declined. In fact, they have increased. “Our data shows that the platform continues to process billions of dollars worth of transactions, pointing to a highly resilient system that operates largely independent of its public-facing infrastructure,” the report stated. Following the takedown of its website, Telegram channels, and its officially announced closure, Huione’s operations have have not slowed at all. In fact, our data shows that the platform continues to process billions of dollars worth of transactions. https://t.co/ZhHj81hDU6 — Chainalysis (@chainalysis) June 12, 2025 Despite losing access to the U.S. dollar and facing infrastructure takedowns, Huione’s ability to operate appears largely unaffected. The report highlights that its complex laundering networks avoid mainstream exchanges and rely heavily on a “guarantee” system—a model of laundering services built to bypass traditional scrutiny. Chainalysis says Huione’s survival reveals a deeper issue: the growing sophistication of Chinese-language laundering networks, many of which rely on “guarantee services.” These platforms provide peer-to-peer escrow-like services for illicit money movement, bypassing traditional financial institutions and leaving little trace in regulated systems. Even after losing key infrastructure, Huione’s crypto platform has returned under a new domain, Huione\[.]me, retaining its branding and activity. The company continues to list its own token, XOC, and the Huione-promoted stablecoin USDH. Its Telegram presence has also quietly resumed, with continued engagement between users and administrators. The report details various laundering typologies used by Huione-linked services. These include fiat-to-stablecoin swaps, in-person cash pickups, and prepaid card transfers. In some cases, vendors organize motorcades for physical handoffs, demonstrating a blend of digital and real-world logistics. Huione’s operations are believed to be deeply embedded in broader criminal networks. Its continued resilience, despite visible enforcement actions, highlights the limitations of targeting surface-level infrastructure. Chainalysis warns that addressing platforms like Huione will require more than just taking down websites or blocking messaging apps. Huione’s case, the firm argues, shows the need for “multi-vector enforcement strategies” that go beyond surface-level interventions. These strategies would involve international coordination, advanced blockchain intelligence tools, and real-time data sharing between law enforcement and financial regulators. “The question now isn’t whether Huione is still operational — it clearly is — but rather, what kinds of interventions can meaningfully disrupt it,” Chainalysis stated. The findings raise serious questions about current methods to combat sophisticated laundering networks and point to the need for long-term, cross-border collaboration. Telegram Crackdown Fails to Deter Darknet Activity as Huione Remains Operational Despite Telegram’s takedown of thousands of illicit channels in May, Huione Guarantee, a darknet marketplace reportedly tied to Cambodia’s elite, continues to operate, blockchain analytics firm Elliptic says . Telegram shuts down Xinbi & Huione Guarantee revealing how stablecoins & encryption power industrial-scale cybercrime. #CryptoCrime #Telegram #usdt https://t.co/q5dRh8zSvf — Cryptonews.com (@cryptonews) May 14, 2025 The crackdown followed revelations that Huione and its Chinese-language counterpart, Xinbi Guarantee, facilitated over $35 billion in illicit crypto transactions, mostly in Tether (USDT). Elliptic’s analysis shows at least $27 billion in USDT flowed through Huione alone, which offers money laundering services, fake documents, stolen personal data, and even intimidation-for-hire. Xinbi has processed another $8.4 billion since 2022. Both marketplaces use Telegram’s encrypted infrastructure to operate at scale, acting as hubs for cybercriminals. Even after the takedown, Huione reportedly continues to function through alternative channels. The U.S. Treasury labeled Huione Group a major global money laundering concern in May 2025, tying it to $98 billion in crypto flows, some allegedly linked to North Korea’s Lazarus Group. A new United Nations report is calling out Telegram for affecting organized crime in Southeast Asia amid Pavel Durov's legal woes. #Telegram #PavelDurov #UN https://t.co/q0ZEMy6TIU — Cryptonews.com (@cryptonews) October 7, 2024 Telegram remains a hotspot for cybercrime. According to the UN, scams, data theft, and laundering via the platform may total $36.5 billion annually , much of it driven by USDT. As enforcement struggles to keep pace, Elliptic now tracks over 30 similar marketplaces still active across the messaging app. The post Darknet Marketplace Huione Reportedly Still Active Despite Website and Telegram Shutdown appeared first on Cryptonews .
cryptonews 2025-06-13 15:16
The post Bitcoin Price Today Crashes, When Will Crypto Prices Recover? appeared first on Coinpedia Fintech News In the past 72 hours, the Bitcoin price bullish momentum witnessed a short-term halt, due to an increase in bearish pressure involving worsening geopolitical conditions. As a result, Bitcoin price suffered a loss of 7%, as it fell short of bullish strength to surpass the benchmark $112,000 ATH. Moreover, the leveraged long positions were unwound, which further amplified downside momentum for top crypto and altcoins. Similarly, recent on-chain metrics highlight that derivative exchanges saw significant withdrawals of stablecoins. Where these withdrawals are coupled with a notable divergence between BTC price and Binance’s Open Interest. These converging signals strongly indicate a cautious outlook for Bitcoin in the immediate short term. BTC Jumped From Cliff – Down 7%: What Exactly Happened? The global uncertainty has increased recently, which has affected the financial sector, including cryptocurrencies. This happened as Donald Trump plans to put unilateral tariffs in the next two weeks. Alongside the pessimism surrounding Trump’s tariffs, the Israel-Iran Conflict also escalated further, which has triggered aggressive selling. The sudden spike in sell volume closely aligns with Israel’s unexpected military strike on Iran early Friday (June 13), which sent shockwaves through global markets. Crypto is regarded as a high-risk asset and faces immediate liquidation pressure. Where traders dumped BTC in anticipation of broader market turmoil. What DOes This Divergence Between Bitcoin Price and Binance Open Interest Means For Investors? Recent insights from CryptoQuant reveal a notable divergence between Bitcoin’s price and Binance’s Open Interest (OI). As the Bitcoin price neared its all-time high of $110,000- which was last seen in late May, the OI failed to match the peak levels. This is clearly indicating a weakening interest in futures trading despite strong long-term BTC price momentum. Amr Taha | Source: CryptoQuant This situation suggests a cautious sentiment among investors, highlighting potential shifts in market dynamics. .article-inside-link { margin-left: 0 !important; border: 1px solid #0052CC4D; border-left: 0; border-right: 0; padding: 10px 0; text-align: left; } .entry ul.article-inside-link li { font-size: 14px; line-height: 21px; font-weight: 600; list-style-type: none; margin-bottom: 0; display: inline-block; } .entry ul.article-inside-link li:last-child { display: none; } Also Read : Michael Saylor’s Bitcoin “Hope” Tweet Goes Viral Amid Market Recovery , Should Investors Be Alarmed As Massive Stablecoin Withdrawals Occurred from Derivative Exchanges According to CryptoQuant charts, over $750 million in stablecoins have been withdrawn from derivatives exchanges. This significant movement mirrors a similar withdrawal on May 29, 2025, also around $750 million. Such synchronized outflows often indicate capital rotation or changes in trader behavior. When these occur near market highs, they may signal hedging or de-risking actions. Amr Taha | Source: CryptoQuant Currently, Bitcoin price is struggling near the key psychological level of $110,000, and last three days 7% decline has made the situation more risky for market participants. BTC/USD 1.D. COINBASE | Source: TradingView Therefore, amid the geopolitical chaos, the absence of confirmation from Binance OI, along with repeated large stablecoin outflows, increases the likelihood of a short-term pullback. If the $101,000 support area is breached, BTC price could drop to the support zone around $96,000. The short-term situation urges market participants to “DYOR” and should avoid “FOMO” based future decisions. .article_register_shortcode { padding: 18px 24px; border-radius: 8px; display: flex; align-items: center; margin: 6px 0 22px; border: 1px solid #0052CC4D; background: linear-gradient(90deg, rgba(255, 255, 255, 0.1) 0%, rgba(0, 82, 204, 0.1) 100%); } .article_register_shortcode .media-body h5 { color: #000000; font-weight: 600; font-size: 20px; line-height: 22px; text-align:left; } .article_register_shortcode .media-body h5 span { color: #0052CC; } .article_register_shortcode .media-body p { font-weight: 400; font-size: 14px; line-height: 22px; color: #171717B2; margin-top: 4px; text-align:left; } .article_register_shortcode .media-body{ padding-right: 14px; } .article_register_shortcode .media-button a { float: right; } .article_register_shortcode .primary-button img{ vertical-align: middle; width: 20px; margin: 0; display: inline-block; } @media (min-width: 581px) and (max-width: 991px) { .article_register_shortcode .media-body p { margin-bottom: 0; } } @media (max-width: 580px) { .article_register_shortcode { display: block; padding: 20px; } .article_register_shortcode img { max-width: 50px; } .article_register_shortcode .media-body h5 { font-size: 16px; } .article_register_shortcode .media-body { margin-left: 0px; } .article_register_shortcode .media-body p { font-size: 13px; line-height: 20px; margin-top: 6px; margin-bottom: 14px; } .article_register_shortcode .media-button a { float: unset; } .article_register_shortcode .secondary-button { margin-bottom: 0; } } Never Miss a Beat in the Crypto World! 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Bitcoin’s price is down today primarily due to escalating geopolitical tensions from Israel’s military operation against Iran, alongside global uncertainty stemming from potential new tariffs proposed by Donald Trump. How might upcoming U.S. interest rate decisions influence crypto prices? If the Fed keeps rates high or signals fewer future cuts, it makes riskier assets like crypto less attractive, as investors favor more stable, yield-bearing assets. Conversely, rate cuts can boost crypto appeal. How low can Bitcoin go this month? Bitcoin is currently trading around $104,000. Key support levels to watch are $101,000-$102,000, and if breached, it could potentially drop to $96,000 this month due to ongoing bearish pressure.
coinpedia 2025-06-13 15:15
Bitcoin Price Today Crashes, When Will Crypto Prices Recover?
