Category: Cryptocurrency News

“The whole problem with centralized systems is that there’s a center,” Naoris chief strategy officer David Holtzman told Cointelegraph.

In just 26 days, the Federal Open Market Committee (FOMC) of the U.S. Federal Reserve will gather to deliberate on whether to adjust the federal funds rate. As of Jan. 2, 2025, with the next meeting slated for Jan. 29, the market anticipates no movement in the rate. Fed’s Rate Play: Markets Brace for January […]

Do Kwon, the South Korean cryptocurrency entrepreneur and co-founder of Terraform Labs, pleaded not guilty on Thursday to a series of criminal fraud charges in a Manhattan federal court.  This comes just days after his extradition from Montenegro, where he had been detained for over a year. His case centers around the collapse of TerraUSD and Luna (LUNC), which collectively lost an estimated $40 billion in 2022. Ordered To Remain In Custody Following Court Appearance According to a Reuters report, federal prosecutors unsealed a nine-count indictment accusing Kwon of multiple offenses, including securities fraud, wire fraud, commodities fraud, and conspiracy to commit money laundering.  Related Reading: If Solana Reclaims $210 ‘New Highs Are Next’ – Price Analysis Dressed in an olive green long-sleeved shirt and black sweatpants, Kwon appeared in court alongside his lawyer, Andrew Chesley, who indicated that they would not seek bail at this time.  Following Kwon’s plea, US Magistrate Judge Robert Lehrburger reportedly ordered him to remain in custody. Do Kwon left the courtroom with a copy of the 79-page indictment, and he is scheduled to return for another hearing on January 8. The Fallout From Do Kwon Alleged Fraud And Market Manipulation In June, Kwon reached a civil settlement with the US Securities and Exchange Commission (SEC), agreeing to pay an $80 million fine and accept a ban from participating in cryptocurrency transactions. This settlement was part of a broader $4.55 billion resolution related to alleged misconduct in the management of Terraform Labs. The indictment details how Kwon allegedly misled investors about the stability of TerraUSD, a stablecoin designed to maintain a value of $1. In May 2021, when the stablecoin’s value began to falter, Kwon reportedly claimed that a computer algorithm known as “Terra Protocol” had successfully restored its peg.  In reality, prosecutors allege that Do Kwon orchestrated a scheme involving a high-frequency trading firm to secretly purchase millions of dollars of TerraUSD to artificially inflate its price. Related Reading: Weekly Chart Shows That Dogecoin Price Is Primed To Cross $11 In 2025, Here’s How This reportedly drove both retail and institutional investors to buy Terraform products, significantly boosting the value of Luna, another token linked to TerraUSD, to as high as $50 billion by the spring of 2022. The indictment states, “Much of this growth followed Kwon’s brazen deceptions about Terraform and its technology.” However, the situation took a turn for the worse in May 2022 when TerraUSD’s value began to decline again. The trading firm that had previously propped it up warned Kwon that maintaining its value “wasn’t so simple this time.”  The subsequent crash of both TerraUSD and Luna sent shockwaves through the cryptocurrency market, leading to substantial losses for investors and contributing to a broader downturn that affected other digital assets, including Bitcoin (BTC). While prosecutors have not disclosed the identity of the trading firm involved, SEC lawyers previously indicated that Jump Trading had played a role in supporting TerraUSD during its peak in May 2021. Featured image from DALL-E, chart from TradingView.com

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The crypto market showed signs of revival yesterday, with several assets experiencing significant price surges after weeks of subdued action. Chainlink (LINK) stood out, gaining over 15% in just 24 hours, solidifying its position as one of the stronger altcoins in the current environment. This sharp recovery highlights growing interest in LINK as market sentiment shifts. Related Reading: Shiba Inu Testing A Significant Support Zone – Bullish Breakout Ahead? Renowned analyst Jelle shared a technical analysis on X, revealing a critical development in Chainlink’s price action. According to Jelle, LINK has successfully flipped a key resistance level into support—a bullish signal that often precedes substantial upward momentum. This structural shift could pave the way for Chainlink to target higher price levels as it prepares to test crucial supply zones. The market’s renewed energy and Chainlink’s ability to hold key levels suggest that the coming days could be pivotal. If the bullish momentum persists, LINK could soon challenge overhead resistance, setting the stage for a larger breakout. Amid this awakening market, Chainlink’s recent surge underscores its potential as a standout performer in the altcoin space. Chainlink Investors Waking Up Chainlink has faced notable selling pressure since peaking at $30 on December 13, triggering a pullback that tested the resilience of its bullish structure. However, recent price action suggests a shift in momentum as bulls show signs of waking up. This could mark the beginning of a massive rally, according to analysts closely monitoring the market. Top analyst Jelle recently shared a technical analysis on X, highlighting a crucial development in LINK’s short-term trend. According to Jelle, Chainlink appears to have flipped a key resistance level into support—a structural shift often seen as a precursor to significant upward movement. This bullish signal has reignited optimism among investors, with Jelle suggesting that LINK could target all-time highs in the near future if current momentum continues. The key now lies in LINK’s ability to break through critical supply zones in the coming days. A successful breach of these levels could pave the way for an aggressive rally as buyers look to capitalize on renewed market strength. As the broader crypto market shows signs of recovery, Chainlink’s ability to reverse its recent downtrend positions it as a potential leader in the altcoin space. Related Reading: Ethereum Stays Within Symmetrical Pattern – Analyst Sets ETH Target Testing Crucial Liquidity Chainlink (LINK) is currently trading at $22.55, reflecting a strong bounce from local demand levels. The price is now testing a critical supply zone, which could determine its next major move. Encouragingly, LINK is trading above the 4-hour 200 EMA at $22.27, a key technical indicator that often signals bullish momentum when sustained as support. For bulls, holding this level is essential to confirm the continuation of LINK’s short-term uptrend. If LINK maintains support above the 200 EMA and builds momentum, the next significant hurdle lies at the $24 mark. Reclaiming this level in the coming days would likely trigger a massive breakout, opening the door for LINK to target higher resistance zones and potentially all-time highs. Related Reading: Solana Holds Crucial Level – Can SOL Push Above $200? However, failure to hold the 200 EMA as support could expose LINK to renewed selling pressure, pushing prices back toward local demand. Traders and investors are closely watching these technical levels, as the broader market recovery creates favorable conditions for altcoins to reclaim lost ground. Featured image from Dall-E, chart from TradingView

A friend sent USDT to my Ethereum Classic address in my Trezor account, assuming it was the same network since both addresses start with "0x." I just realized this was a mistake. Is there any way to recover the funds? submitted by /u/Affectionate_Equal82 [link] [comments]

According to RWA.XYZ, BlackRock’s US dollar Institutional Digital Liquidity Fund has over $648 million in assets under management.

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The brokerage reportedly cited expectations of a crypto-friendly regulatory environment under incoming President Trump as a key consideration.