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Bitcoin Traders Sell Puts as Long-Term Holders Add 635K BTC Since January
The Bitcoin market is experiencing a fascinating divergence between long-term holders (LTHs) and short-term holders (STHs), with strategic maneuvers across spot and derivatives markets showing growing confidence in Bitcoin’s future. Since January, long-term holders, defined by blockchain data as those who have held BTC for over 155 days, have accumulated over 635,000 BTC, even as short-term holders continue to offload their positions. Analysis: Long-term Bitcoin holders step up buying as short-term holders sell off Long-term Bitcoin holders (LTHs) have been steadily accumulating Bitcoin $BTC , buying 1.38 coins for every 1 BTC sold by short-term holders (STHs), according to CoinDesk, citing data from… — CoinNess Global (@CoinnessGL) April 24, 2025 At the same time, traders are showing increased bullish sentiment through advanced options strategies, while rising spot demand and unusual behavior in funding rates further complicate the near-term outlook. BTC has surged above $94,000, driven by aggressive buying activity on Binance and institutional accumulation, yet some analysts still caution against assuming the bull cycle has returned. Source: Cryptonews Options Market Shows Bullish Conviction Despite Volatility According to Deribit’s Asia Business Development Head Lin Chen in a report, Bitcoin traders have increasingly turned to cash-secured put writing strategies, selling put options, and securing their positions with stablecoins. This is similar to providing insurance against BTC price drops, collecting premiums now while being prepared to buy the asset if the market dips. Such a move highlights not just optimism, but a calculated, long-term approach to accumulation. Simultaneously, BTC holders are writing call options at higher strike prices to earn additional yield, pressuring Deribit’s DVOL index, which measures implied volatility. Source: Deribit The index has fallen from 63 to 48 following the April 7 sell-off, suggesting traders expect reduced volatility moving forward. The bullish tilt is further evident in risk reversals resetting in favor of calls, along with a surge in open interest in options with strike prices of $95,000, $100,000, and $135,000. BTC Open Interest Source: Coinalyze Deribit’s $100K strike call has amassed over $1.6 billion in notional open interest, reinforcing bullish momentum. According to Volmex, the cumulative delta across BTC options on Deribit and ETFs, such as BlackRock’s IBIT, has reached $9 billion, indicating a high sensitivity to BTC price changes. Massive delta in BTC options! The total delta of BTC options (crypto-native + ETFs) has surpassed $9B, with total open interest reaching $43B. Option market makers are actively hedging this delta exposure, driven by substantial new positions and notable shifts in strike… https://t.co/0KQnqWj2Rz pic.twitter.com/3MoVNDTEtj — Volmex σ (@volmexfinance) April 23, 2025 Such figures imply that market makers are actively adjusting hedges, potentially amplifying short-term volatility. Spot Buying on Binance and Whale Accumulation Drive Market Momentum While derivatives markets paint a picture of calculated optimism, the spot market, especially on Binance, has become the epicenter of aggressive buying activity. CryptoQuant analyst Crazzyblockk highlighted a sharp increase in the taker buy/sell ratio on Binance, with a 30-day rise of 18.9% and a 7-day gain of 6.2%. Big spike in Binance taker buy/sell ratio: +18.9% (30d) +6.2% (7d) Aggressive buyers are stepping in, filling sell orders with urgency on Binance. Takers are driving the speculation—hard. Full analysis: https://t.co/Ph9xQcZcGm pic.twitter.com/dqqfSTwafY — Crazzyblock (@Crazzyblockk) April 23, 2025 This suggests that traders are placing market buy orders with urgency, a signal of strong conviction. This aggressive taker activity implies that buyers are no longer waiting for better prices; they’re stepping in decisively. According to Crazzyblockk, “the taker buy/sell ratio isn’t just a reflection of who’s buying or selling—it’s a real-time indicator of conviction and pressure.” Curiously, despite the surge in BTC’s price, Binance funding rates have turned negative, suggesting that perpetual futures traders remain skeptical. CryptoQuant analyst Darkfost observed that these negative rates, now at -0.00, mirror setups from October 2023 and September 2024, both of which preceded significant rallies. BINANCE TRADER IN DISBELIEF ! Don't sleep on this, we don’t get setups like this very often. While Bitcoin is delivering a daily performance of nearly 5%, investors on Binance don't seem to believe this rally will last. Whiereas BTC continues to climb, funding rates on… pic.twitter.com/l9PDV8IhtY — Darkfost (@Darkfost_Coc) April 22, 2025 This divergence between rising prices and trader disbelief could fuel a short squeeze if bears are forced to close positions. Meanwhile, on-chain data from Glassnode confirms that long-term holders have added 635,340 BTC since January, bringing their total holdings to 13.76 million BTC. These investors typically accumulate during dips and are widely seen as the backbone of any long-term bull run. In contrast, short-term holders have sold over 460,000 BTC, reducing their holdings to around 3.5 million BTC. Cycle Theory Under Pressure as Market Sentiment Evolves With Bitcoin pushing toward the $95,000 mark, debate is intensifying over whether the current rally marks the beginning of a renewed bull market or merely a temporary bounce. CryptoQuant CEO Ki Young Ju, who had recently called a market top, is now reconsidering his stance. In a post on April 23, Ju admitted that BTC’s rebound, now trading 10% higher than when he made his bearish prediction, could be a sign that the traditional cyclical model is breaking down. “If Bitcoin hits new ATH before Q4, I’m ready to throw out the cycle theory,” Ju tweeted. After I said the bull cycle was over, #Bitcoin dropped 10%—but now it’s 10% above where it was when I made that call. I still think we’re moving within a wide range. If it breaks above $100K, I’ll gladly admit I was wrong. Until then, I’m keeping an eye on the data for a few… — Ki Young Ju (@ki_young_ju) April 23, 2025 This shift in narrative has been fueled by institutional buying, as entities like Strategy and others continue to purchase large amounts of BTC. Bloomberg ETF analyst Eric Balchunas linked Bitcoin’s recent strength to a changing investor base, where large institutional players are absorbing supply and replacing the previous dominance of retail investors. Bitcoin ETFs have eked out positive inflows past month and YTD and $IBIT is +2.4b YTD (Top 1%). Impressive and IMO helps explain why btc's price has been relatively stable: bc it's owners are more stable! For the past 15mo the ETFs and Saylor have been buying up all 'dumps' from… pic.twitter.com/X40b2bgjEL — Eric Balchunas (@EricBalchunas) April 16, 2025 Even as short-term holders lock in profits or exit positions, long-term holders are returning to accumulation mode. The drop in BTC held at a loss, from over 5 million coins earlier this month to 2.6 million, suggests improving sentiment and healthier market structure. Much of the selling came from buyers who entered at high prices, particularly during BTC’s push past $100,000, resulting in unrealized losses. Ultimately, it remains to be seen whether BTC will break new all-time highs before the end of Q4. The post Bitcoin Traders Sell Puts as Long-Term Holders Add 635K BTC Since January appeared first on Cryptonews .

2025-04-24 13:59
BlackRock’s IBIT Sees $643M Daily Inflow as Bitcoin ETFs Hit $917M High; Ethereum ETFs Blee
In one of the strongest institutional turnarounds since January, BlackRock’s iShares Bitcoin Trust (IBIT) recorded a staggering $643 million in net inflows on Wednesday, marking its highest single-day surge since January 21. According to SosoValue , this impressive uptick contributed to a total of $917 million flowing into all U.S.-listed spot Bitcoin exchange-traded funds (ETFs) in a single day. Source: SosoValue For context, this four-day streak of inflows has seen $2.3 billion pour into these funds, double the amount seen during a comparable 10-day streak in March. This sharp rebound has been attributed to renewed investor confidence amid macroeconomic tensions, with analysts highlighting Bitcoin’s emerging role as a hedge against inflation and geopolitical risk. IBIT’s stellar performance also came on the same day it was crowned “Crypto ETP of the Year” by etf.com. Winner of the “Crypto ETP of the Year” award goes to iShares Bitcoin Trust (IBIT). Congratulations, @iShares and @BlackRock ! #etfcomAwards pic.twitter.com/A5auFcdf0f — etf.com (@etfcom) April 24, 2025 The accolade came as IBIT’s assets under management soared to $53.77 billion, making it the largest among the eleven spot Bitcoin ETFs launched in January 2024. BlackRock wasn’t the only winner on the day. ARK & 21Shares’ ARKB brought in $129.5 million, Fidelity’s FBTC followed closely with $124.37 million, and even VanEck’s HODL ETF added positive net flows. Meanwhile, Bitwise’s BITB was an outlier, reporting a $15 million net outflow. IBIT’s Awards Day and Bitcoin ETF Inflows Signal Institutional Maturity April 23 proved to be a landmark day not just for IBIT’s inflows but also for its recognition in the broader ETF industry. The fund was honored with two major awards: “Best New ETF” and “Crypto ETP of the Year.” Winner of the “Best New ETF” award goes to iShares Bitcoin Trust (IBIT). Congratulations, @iShares and @BlackRock ! #etfcomAwards pic.twitter.com/NNY4TGOn0r — etf.com (@etfcom) April 24, 2025 According to Bloomberg analyst Eric Balchunas , the recognition was well deserved. “Feels right to me. I’m pretty sure this is how I voted,” he said in an X post. Feels right to me. I’m pretty sure this is how I voted. Both of them did things no one has seen bf. https://t.co/UMnivxtDEV — Eric Balchunas (@EricBalchunas) April 24, 2025 IBIT’s $643.2 million inflow on the same day was its highest since January 21, when it recorded $661.9 million, coinciding with Bitcoin’s all-time high of $109,000 following President Trump’s inauguration . With over 45 million shares traded daily on average and each share priced at $53.20, IBIT remains the dominant vehicle for institutional Bitcoin exposure. VanEck’s HODL ETF, while less pronounced in assets, won “Best New ETF Ticker,” adding flavor to the emerging ETF ecosystem. Winner of the “Best New ETF Ticker” award goes to VanEck Bitcoin ETF (HODL). Congratulations, @vaneck_us ! #etfcomAwards pic.twitter.com/YrueH3vHkV — etf.com (@etfcom) April 24, 2025 While these inflows are noteworthy, skeptics are wondering if this is the beginning of a structural shift or merely a temporary divergence from equity markets. Bitfinex analysts noted in their April 23 report, “We’re not quite there yet, but if Bitcoin holds strength through the upcoming CPI, as well as ongoing Powell-related and equity earnings volatility, the decoupling narrative could evolve from ‘temporary divergence’ to ‘regime change.’” Bitcoin’s recent surge above the short-term holder realized price of $91,000 has also sparked debate. Currently trading at nearly $93,754, Bitcoin has risen 5.6% in the past 24 hours and nearly 8% over the last month, significantly outperforming the S&P 500 and the Nasdaq. Source: Cryptonews Double Top Concerns and Liquidity Headwinds Despite the ETF-driven optimism, not all analysts are convinced that the rally is sustainable. CryptoQuant contributor Avocado_onchain warned that the number of short-term holders (1-3 months) is increasing, a pattern often observed before price corrections. 비트코인 1-3개월 투자자의 실현가격 돌파, 더블탑 혹은 불마켓의 신호일까?(Bitcoin Breaks Above the Realized Price of 1–3 Month Holders — A Signal for a Double Top or a Bull Market?) 비트코인의 가격이 반등하며 1~3개월 투자자들의 평균 실현가격인 91,000달러를 돌파했습니다.… pic.twitter.com/PHNmLeLwNl — Avocado (@avocado_onchain) April 23, 2025 In the previous market cycle, this cohort transitioned into longer-term holders only after prices had sharply corrected, leading some to suspect that a similar double-top scenario may be unfolding. “When Bitcoin hit its all-time high of $109,000 in January 2025, it significantly exceeded this realized price level, suggesting that may have been the first top of a potential double top formation,” the analyst warned. “Rather than chasing the rally, it may be wiser for current holders to adopt a more cautious approach.” Meanwhile, macroeconomic uncertainty remains a persistent threat. President Trump’s recent indication that tariffs on Chinese goods would be “substantially” lower than previously proposed spurred a rally across risk-on assets, but analysts like Xanrox caution that this may be a “whale-driven trap.” Source: TradingView Looking ahead, the April Consumer Price Index (CPI), due to be released on May 13, will be a pivotal moment. March’s CPI showed a cooling trend at 2.4%, the lowest since February 2023. In sum, while the massive ETF inflows and institutional interest signal a possible new chapter for Bitcoin, underlying risks and macro headwinds suggest that caution is still warranted. The post BlackRock’s IBIT Sees $643M Daily Inflow as Bitcoin ETFs Hit $917M High; Ethereum ETFs Blee appeared first on Cryptonews .

2025-04-24 13:03
Revolut Profits Spike More Than Double in 2024 to £1.3B Thanks to Crypto Trading Boom
Revolut has reported a record-breaking financial year, surpassing $1 billion in annual profit for the first time as the fintech giant prepares to launch its full banking operations in the U.K. later this year. The London-based firm announced on Thursday that its net profit for 2024 reached £1.1 billion ($1.5 billion), marking a 149% increase compared to the previous year. Total revenue also soared by 72%, climbing to £3.1 billion, driven by robust growth across multiple business segments. Revolut’s Wealth Division Soars 298% on Crypto Trading Resurgence A standout performer was Revolut’s wealth division, which includes stock and crypto trading services. The unit saw a 298% surge in revenue, generating £506 million amid a resurgence in cryptocurrency activity. Subscription services also contributed significantly, with turnover rising 74% to £423 million. Additionally, Revolut’s loan book expanded by 86% to £979 million, while a sharp rise in customer deposits fueled a 58% increase in interest income, totaling £790 million. This financial momentum comes at a pivotal time as Revolut transitions into a fully licensed bank in its home market. After a three-year application process, the company secured a restricted banking license from the U.K.’s Prudential Regulation Authority (PRA) in July 2024. Revolut awaits final regulatory approval to migrate its 11 million U.K. customers to its new banking entity. Revolut is the #1 finance app in Europe — once again (a thread ) Thanks to your trust, we set a new benchmark in 2024. pic.twitter.com/lf7fAMMoel — Revolut (@RevolutApp) April 24, 2025 Once operational, the firm will offer traditional banking products such as loans, overdrafts, and mortgages, unlocking new revenue streams. However, Revolut faces stiff competition from established digital banks like Monzo and Starling, both of which secured full licenses years earlier. “We improved our economics and accelerated product adoption, resulting in our 4th consecutive year of profitability, and earning us the status of most valuable private technology company in Europe,” Founder and CEO Nik Storonsky said. “We welcomed new investors through a secondary share sale at an implied $45 billion valuation.” Revolut Launches Crypto Trading Platform Revolut X In May last year, Revolut introduced its standalone crypto trading platform called Revolut X , catering to UK retail customers. At the time, the company said it designed the new platform to compete with leading crypto exchanges by providing easy on/off-ramping and low fees. Although initially targeted at professional traders, Revolut X is accessible on desktop for all UK users with a Revolut retail account. Traders on Revolut X can engage in more than 100 token trades with fixed fees of 0% for makers and 0.09% for takers, irrespective of trading volume. Revolut’s introduction of Revolut X came after the launch of Revolut Ramp in March , which enables users to purchase crypto directly in their Web3 wallets through a partnership with MetaMask developer Consensys. In November, the firm expanded its crypto exchange Revolut X to serve customers in 30 additional European countries. The post Revolut Profits Spike More Than Double in 2024 to £1.3B Thanks to Crypto Trading Boom appeared first on Cryptonews .

2025-04-24 12:54
Strike CEO to Lead New Tether, SoftBank-Backed Bitcoin-Centric Venture
Crypto payments firm Strike founder, Jack Mallers, has joined as the CEO of a newly formed Bitcoin-centric company Twenty One. Backed by Tether and SoftBank Group, the company is expected to hold over 42,000 Bitcoin at launch, making it the third-largest BTC treasury, after Strategy and Mara Holdings. Jack Mallers to Bring Bitcoin Expertise According to an official release , Mallers would bring his expertise in digital global payments to Twenty One, while intending to continue his role at Strike. Last year, Mallers predicted that Bitcoin would skyrocket 870%, reaching $1 million if the U.S. government acquires four million BTC. He highlighted Bitcoin’s unique scarcity and resistance to inflation as key factors, driving the growth. Mallers founded Strike in 2020, the payments app built on the Bitcoin Lightning Network, pioneering BTC as a global payment tool. Notably, Mallers “Orange Pilled” El Salvador President Nayib Bukele in 2021. The same year, President Bukele announced that the country would become the first to make Bitcoin an official currency. “With Jack at the helm, we are proud to support this effort to further Bitcoin’s adoption and reinforce its role as the ultimate store of value,” said Paolo Ardoino, Tether CEO. Ardoino highlighted that Twenty One would take a Bitcoin-first approach, prioritizing accumulation over speculation and building long-term value. "We want our shareholders to get wealiter, to get richer in Bitcoin terms," says Jack Mallers CEO of Twenty One Capital, the newly formed crypto firm backed by Cantor, Tether and SoftBank https://t.co/wYXkjTlitC pic.twitter.com/glLTvpU9JL — Bloomberg TV (@BloombergTV) April 23, 2025 Tether to Contribute $1.5B Worth Bitcoin to Twenty One As reported by Cryptonews , the multibillion-dollar Bitcoin investment vehicle Twenty One Capital, would see a contribution of $1.5 billion in Bitcoin from Tether. Meanwhile, SoftBank would add $900 million and Bitfinex would provide $600 million to the venture, an FT report noted. “Twenty One is structured to be a day one Bitcoin-native company that will strategically allocate capital to increase Bitcoin per share,” the release read. Besides, the new venture is also planning to support “financial products built with and on Bitcoin,” which includes native lending models and capital market instruments. “We believe that Bitcoin is the answer, and Twenty One is how we bring that answer to public markets,” Mallers noted. “We’re not here to beat the market, we’re here to build a new one. A public stock, built by Bitcoiners, for Bitcoiners.” The post Strike CEO to Lead New Tether, SoftBank-Backed Bitcoin-Centric Venture appeared first on Cryptonews .

2025-04-24 11:04
US Prosecutors Seek 6.5-Year Sentence for Mango Markets Hacker Avi Eisenberg
U.S. federal prosecutors are pushing for a prison sentence of up to 6.5 years for Avraham “Avi” Eisenberg, who was convicted for his role in the $110 million exploit of decentralized exchange Mango Markets in 2022. In an April 22 court filing , prosecutors requested that Judge Arun Subramanian impose a sentence between 78 and 97 months ahead of Eisenberg’s scheduled sentencing hearing on May 1. Eisenberg was found guilty in April 2024 of wire fraud, commodities fraud, and market manipulation linked to the Mango Markets attack. He also faces separate charges related to possession of child pornography, which prosecutors argue further justifies a lengthy prison term. Prosecutors Highlight $100M Fraud and Mango Markets Shutdown In their filing, prosecutors emphasized the severity of Eisenberg’s actions, stating that his scheme not only defrauded investors of over $100 million but also forced Mango Markets to shut down. “This sentence is necessary to reflect the gravity of the defendant’s crimes, deter future misconduct, and protect the public,” the filing read. Mango Markets, which launched in August 2021, announced in January 2024 that it would cease operations, citing the lasting impact of the exploit. The platform officially shut down on February 3. Mango Markets Shutdown Update Mango is closing on February 3rd, 2025 We ask all users to close their positions before this time to avoid liquidation and penalty fees The range of liquidation fees can be found here: https://t.co/SdefuLCCAj — Mango (@mangomarkets) January 18, 2025 During his trial, Eisenberg’s defense maintained that his actions were part of a legal trading strategy. While he did return approximately $67 million following a community governance vote, he retained over $40 million from the exploit. In a victim impact statement, Mango Markets requested $47 million in restitution, arguing that the return of funds is essential to mitigate the financial damage caused by Eisenberg. “No amount of money will repair the reputational harm or the suffering inflicted, but restitution will help make the community whole,” the statement noted. Eisenberg was arrested in December 2022, and his sentencing has faced multiple delays due to what his legal team described as complex legal considerations. Originally set for late 2024, the hearing was postponed several times before being scheduled for May 2025. If the court agrees with prosecutors, Eisenberg could face one of the harshest sentences handed down for a DeFi-related exploit to date. How Eisenberg Manipulated Mango Markets Contracts On October 11, 2022, Mango Markets was the victim of an attack in which approximately $110 million was drained from its treasury. Shortly after the attack, Avraham Eisenberg came forward as the perpetrator , asserting that the exploit was merely a “highly profitable trading strategy” and claiming it was conducted within the bounds of legality and the protocol’s intended design. According to prosecutors , Eisenberg utilized two accounts to engage in manipulative trading involving futures contracts tied to the values of Mango’s token MNGO and the stablecoin USD Coin . Last year, Eisenberg also faced additional charges of possessing child pornography . At the time, Court documents alleged that Eisenberg had images in his possession depicting prepubescent minors under the age of 12. Earlier court documents filed in August revealed that the material was initially discovered on Eisenberg’s cell phones and laptops during a search related to the charges of market manipulation and fraud. The post US Prosecutors Seek 6.5-Year Sentence for Mango Markets Hacker Avi Eisenberg appeared first on Cryptonews .

2025-04-24 10:56
Can Bitcoin Price Hit $96.5K? SEC & El Salvador Fuel Optimism
Bitcoin is hovering near $92,536 after a modest 1% dip in Thursday’s Asian session, marking a pause in what’s otherwise been a strong uptrend. But beyond the charts, something more important is brewing. In a first-of-its-kind move, the U.S. Securities and Exchange Commission is in early discussions with El Salvador’s National Commission on Digital Assets (CNAD) to explore a cross-border crypto sandbox. The idea? Allow U.S. brokers to issue non-security tokens under El Salvador’s friendlier legal framework and apply for digital asset licenses. El Salvador says it shares gang intel with the US, provides full records— requests specific people for deportation. “We raise our hands and say, Look, this guy… it’s not random.” – Security and Justice Minister Gustavo Villatoro The media try to claim the US is deporting… pic.twitter.com/Rt6q5t4BCQ — Libs of TikTok (@libsoftiktok) April 10, 2025 The proposal —reportedly backed by SEC Commissioner Hester Peirce—comes at a time when crypto is increasingly seen as a tool of economic diplomacy. It ties into President Nayib Bukele’s long-standing Bitcoin-first policies and reflects a subtle but significant shift in U.S. regulatory tone. ✦ SEC explores strengthening ties with El Salvador amid deportation concerns: The SEC's crypto task force recently engaged with El Salvador's National Commission on Digital Assets (CNAD) to discuss regulatory collaboration and a cross-border sandbox initiative. An April 22 memo… — ZoneCrypto (@_ZoneCrypto_) April 23, 2025 If approved, this sandbox could pave the way for institutional access to token issuance outside the traditional SEC chokehold—without violating U.S. law. For Bitcoin, this is more than symbolic. It’s structural. Russia’s Crypto Exchange for the Elite and Institutional Bets Stack Up Meanwhile, Russia is taking its own step toward crypto legitimacy. The country’s Central Bank and Finance Ministry have approved the launch of a digital asset exchange tailored for “super-qualified investors” in 2025. To participate, individuals must meet steep thresholds—₽100 million in assets or an annual income above ₽50 million. JUST IN: Russia to launch crypto exchange for "super-qualified investors", RBC News reports pic.twitter.com/pa0WdaTh00 — Bitcoin Magazine (@BitcoinMagazine) April 23, 2025 Operated by the Moscow and St. Petersburg exchanges, the platform will fall under a regulatory sandbox, reinforcing Bitcoin’s growing appeal as a hedge for high-net-worth players—especially in politically sensitive economies. Jack Mallers-led Twenty One is positioning themselves as a “potentially superior vehicle” to MSTR “for investors seeking capital-efficient Bitcoin exposure.” pic.twitter.com/BC4IYYdXLs — Bitcoin News (@BitcoinNewsCom) April 23, 2025 And the private sector is piling in too. Strike CEO Jack Mallers just announced Twenty One Capital—a Bitcoin-native treasury vehicle modeled on MicroStrategy. With $3.9 billion in seed BTC and backing from SoftBank and Bitfinex, it will trade under ticker XXI. As Mallers puts it: “A public stock built by Bitcoiners, for Bitcoiners.” Bitcoin Pulls Back to $92.5K—Eyes on $91.6K Support for Fresh Entry From a trading perspective, Bitcoin is digesting gains. The price is consolidating above the 0.236 Fibonacci level at $92,800, with stronger support at $91,600. Momentum is softening but hasn’t flipped bearish—MACD histogram bars are shrinking, not reversing. Key Levels: Support: $91,600 (0.382 Fib), $90,610 (0.5 Fib), $89,600 Resistance: $94,737 and $96,525 (channel top) Trade Setup: Entry 1: Bounce from $91,600 with confirmation Entry 2: Breakout above $94,800 with strong volume Targets: $94,737 → $96,525 Stop Loss: Below $89,600 Bottom Line While short-term volatility remains, the bigger story is structural. Bitcoin is gaining ground not just in price—but in regulatory legitimacy. The SEC’s outreach to El Salvador and Russia’s crypto sandbox for elites show that traditional gatekeepers are adjusting to a Bitcoin-driven world. And as capital continues to move into ETFs and treasury strategies, this pullback may well be the pause before the next breakout. BTC Bull Token Presale Nears $4.92M with 84% Staking Yield—Price Hike Ahead With Bitcoin trading around $95,000, investor appetite for BTC Bull Token ($BTCBULL) continues to surge. The Ethereum-based meme coin—backed by real Bitcoin reward mechanics—has now raised $4.8 million, approaching its next price milestone at $5.64 million. This is not the end of the presale, but a checkpoint before the token price rises again from the current $0.002475. Staking Offers 84% APY + Bitcoin Payouts One of the biggest draws of $BTCBULL is its 84% APY staking program. Investors can stake tokens at any time, earn high-yield rewards, and still maintain flexibility by unstaking whenever they choose. Current Staking Stats: Annual Yield: 84% APY Total Staked: 1,252,015,807 BTCBULL Unstake Anytime: Yes This dual-reward model—staking yield plus Bitcoin airdrops—makes $BTCBULL more than just another meme coin. It’s earning utility with upside exposure, and that has helped it gain traction among seasoned crypto investors and meme coin enthusiasts alike. Staking Snapshot: Annual Yield: 85% APY Total Staked: 1,235,352,755 BTCBULL Unstake Anytime: Yes Whether you’re a long-term holder or a passive earner, this dual-reward structure enhances the token’s appeal beyond just meme coin hype. Latest Presale Stats: Token Price: $0.002475 Raised So Far: $4.92M With limited time remaining and demand accelerating, this is a key window to secure BTCBULL at presale rates before the next price jump. The post Can Bitcoin Price Hit $96.5K? SEC & El Salvador Fuel Optimism appeared first on Cryptonews .

2025-04-24 10:04
Crypto Fraud Reached Staggering $9.3B Losses in 2024, 66% Increase From 2023: FBI Report
The Federal Bureau of Investigation (FBI) received over 149K complaints regarding crypto fraud in 2024. The Bureau recorded $9.3 billion losses spread across various crypto-related investment scams, extortion, ATM and kiosks, among others. Per the FBI’s Internet Crime Complaint Center (IC3) report , cryptocurrency-related fraud last year was up 66% from 2023’s $5.6 billion. “Cryptocurrency has become an enticing means to cheat investors, launder proceeds, and engage in other illicit schemes,” Chad Yarbrough, operations director for the FBI’s criminal and cyber branch, wrote. Further, the report highlighted that ransomware was the most prevalent threat to critical infrastructure, with complaints rising 9% from 2023. Christopher Delzotto, section chief of the Financial Crime Section for the FBI, told Reuters that the agency notified over 5,400 victims who have been targeted via cryptocurrency fraud between January 2024 and April 2025. Most of these victims did not know they were being targeted, Delzotto added. Elderly Americans Suffered Most Losses: FBI The readings noted that elderly Americans aged 60 and older were most vulnerable to such fraud trends, having reported losses of over $2.83 billion. Though the data concerns across all demographics, FBI highlighted the impact on the older age group. Nearly 30% of total crypto fraud losses came from individuals over 60, the report noted. Source: FBI Additionally, victims in the age group from 50 to 59 saw staggering losses amounting to $1.18 billion. Notably, the FBI confirmed that the reported figures are likely less than actual losses. Among the US states, California bore the brunt of maximum losses to crypto fraud, surpassing $1.39 billion, followed by Texas, which recorded $738 million. Crypto Investment Scams Remain Primary Threat The agency report stressed that investment fraud such as pig butchering, remains the largest category for crypto scams. “Subjects target victims online and develop a relationship before introducing a fraudulent investment opportunity in cryptocurrency,” the FBI warned. Further, the Bureau said that it notified 4,323 victims of cryptocurrency investment fraud, with estimated savings to victims of $285 million. Additionally, 42 victims referred to an FBI victim specialist for suicide intervention, it said. Natalie Newson, CertiK’s Senior Blockchain Investigator, told Cryptonews over mail that crypto fraud investment schemes remain a global issue, as regulation is still catching up in many jurisdictions. “The promise of high, fast returns continues to lure investors, while the anonymity and lack of oversight in many crypto transactions make it difficult to trace or prevent such fraud.” The post Crypto Fraud Reached Staggering $9.3B Losses in 2024, 66% Increase From 2023: FBI Report appeared first on Cryptonews .

2025-04-24 10:00
ZKsync Recovers $5M in Stolen Tokens After Hacker Accepts Bounty
The ZKsync Association has successfully recovered $5 million worth of stolen tokens following a security breach on April 15 involving its airdrop distribution contract. The hacker behind the exploit agreed to a 10% bounty in exchange for returning 90% of the stolen assets, transferring nearly $5.7 million back to the ZKsync Security Council across three transactions on April 23. In a statement posted on X , the ZKsync Association confirmed the cooperation, noting that the funds were returned within the designated 72-hour safe harbor window. Matter Labs Confirms No User Funds Were Affected in ZKsync Security Incident Matter Labs, the developer of the ZKsync protocol, also shared the update, reassuring users that no personal funds were compromised during the incident. Blockchain data shows the hacker transferred $2.47 million in ZK tokens and $1.83 million in Ether (ETH) on the ZKsync Era network, along with an additional 776 ETH—valued at nearly $1.4 million—to the Security Council’s Ethereum address. The transfers were completed in under 15 minutes. The breach occurred when the attacker gained access to ZKsync’s admin account and exploited the airdrop contract’s sweepUnclaimed() function, minting 111 million unclaimed ZK tokens valued at around $5 million at the time. The exploit took place during ZKsync’s ongoing airdrop of 17.5% of its token supply to ecosystem participants. We’re pleased to share that the hacker has cooperated and returned the funds within the safe harbor deadline. As stated in the original Security Council message, the case is now considered resolved. The assets are now in custody of the Security Council, and the decision on what… https://t.co/X0oejun9Tx — ZK Nation (@TheZKNation) April 23, 2025 Interestingly, the recovered amount surpassed the original stolen value due to a rise in token prices since the hack. According to CoinGecko, ZK tokens have gained 16.6% and ETH has risen 8.8% since April 15. Despite the positive resolution, ZK’s market response was muted, with the token down 0.2% over the past 24 hours. The ZKsync Association announced plans to release a detailed report on the incident. ZKsync Era, an Ethereum Layer 2 network leveraging zero-knowledge rollups, currently holds nearly $59 million in total value locked (TVL) and over $2 billion in tokenized real-world assets, based on data from DeFiLlama and RWA.xyz. Crypto Lost $1.6 Billion to Hacks in Q1 In the first three months of 2025, the crypto ecosystem lost a whopping $1,635,933,800 across 39 incidents, according to the blockchain security platform Immunefi . The report claimed, “Q1 2025 marks the worst quarter for hacks in the history of the crypto ecosystem.” Most of that was the result of only two hacks of two centralized exchanges. Phemex suffered a $69.1 million loss in January, while Bybit lost $1.46 billion in February. Subsequently, the total number of losses in the first quarter marks a 4.7x increase compared to Q1 2024 . At that time, hackers and fraudsters stole $348,251,217. Notably, experts assume that the infamous North Korean Lazarus Group is behind the two largest attacks. They stole $1.52 billion, or 94% of total losses. The post ZKsync Recovers $5M in Stolen Tokens After Hacker Accepts Bounty appeared first on Cryptonews .

2025-04-24 09:36
Shaquille O’Neal Settles Class-Action Lawsuit Over FTX Promotion
Shaquille O’Neal has reached a settlement with investors who say they lost money in the collapse of crypto exchange FTX, marking the latest legal development in a case that drew widespread attention to the role of celebrity endorsements in the crypto industry. The proposed classwide settlement, disclosed in a filing with the US District Court for the Southern District of Florida, remains confidential for now. Bloomberg reported Thursday that the settlement amount will be revealed when the plaintiffs seek preliminary approval from the court. O’Neal is one of several public figures named in lawsuits over their promotion of FTX before its dramatic collapse in late 2022. Shaqille O’Neal’s Crypto Promotion Lands Him in Legal Battle Over FTX Losses O’Neal, a former NBA champion and now a businessman and media personality, was prominently featured in FTX’s marketing campaigns. He once claimed to be a “paid spokesperson,” urging fans to join the platform through high-visibility advertisements. That involvement drew sharp criticism and ultimately legal scrutiny after the exchange filed for bankruptcy, leaving billions of dollars in customer funds unaccounted for. Investors in the suit are reportedly seeking over $21b in damages. This is separate from the $9.2b estimated to be available through bankruptcy proceedings. The broader litigation names FTX insiders, outside advisers and celebrity endorsers. All lawsuits have been combined into multidistrict proceedings. O’Neal Was Finally Served FTX Lawsuit at NBA Game After Months of Evasion Serving O’Neal legal papers in the FTX case was unusually difficult. Plaintiffs’ lawyers reported several failed attempts to deliver the complaint. One process server claimed O’Neal was actively avoiding service. He was finally served at an NBA playoff game in Miami in April 2023. A court has partially dismissed a class-action lawsuit against Shaquille O'Neal related to his involvement in the NFT project Astrals. #Shaquille #NFTs https://t.co/o1Zd0JJL0x — Cryptonews.com (@cryptonews) August 19, 2024 This settlement comes after O’Neal resolved another class-action lawsuit. That case involved his Solana-based NFT project, Astrals. A Florida court approved an $11m deal . The settlement addressed claims that the NFTs were unregistered securities and were misrepresented to buyers. O’Neal has not admitted wrongdoing in either case. However, the settlements reflect growing legal pressure on celebrities who used their platforms to endorse high-risk crypto ventures during the market’s boom period. The post Shaquille O’Neal Settles Class-Action Lawsuit Over FTX Promotion appeared first on Cryptonews .

2025-04-24 09:32

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