Category: crypto

Japanese authorities arrested a senior figure linked to Cambodia’s Prince Group, allegedly involved in a multibillion-dollar cryptocurrency fraud and money laundering network. Hu Xiaowei was arrested for filing false residency information in Tokyo. Investigations are ongoing into Hu’s activities and his connection to the conglomerate. This follows international enforcement actions against other Prince Group figures.

Ethereum bounced back from $1,704, reclaiming resistance near $1,733 with improving macro sentiment and institutional accumulation. Market sentiment improved due to falling oil prices and progress in U.S.-Iran talks. Whale accumulation and technical breakout have traders targeting $1,850. Institutional interest and on-chain activity indicate strong support for Ethereum’s price.

Rotki founder and Ethereum developer Lefteris Karapetsas opposes a proposal to fund Ethereum ecosystem work through validator rewards. He believes the proposal could lead to top stakers forming a cartel and diverting up to 10% of validator rewards. Karapetsas also criticizes the current state of Ethereum core development and suggests alternative funding mechanisms.

MoneyGram has joined the Solana ecosystem as a network validator and participant in the Solana Developer Platform. The company now operates official validator nodes on Solana, Tempo, and Midnight while continuing to build stablecoin-based payment services. This move is part of MoneyGram’s broader efforts to integrate blockchain infrastructure into global money transfers.

Strategy has purchased 520 Bitcoin for $35 million, increasing its total holdings to 847,363 BTC. The company also raised its cash reserves by $300 million to $1.4 billion. Debate over Strategy’s capital structure continues, with critics questioning the focus on liquidity alongside cryptocurrency purchases.

XRP Ledger upgraded to version 3.2.0 to fix software issues found during a security review by Common Prefix. The collaboration will continue with formal verification of the Single Asset Vault and Lending Protocol proposals. Ripple’s XRP escrow strategy is debated, while XRP price rose after the upgrades were implemented.

Crypto-backed political groups have spent $7 million supporting Democratic candidates in key primary races. Lawmakers are negotiating the CLARITY Act amidst a busy congressional calendar. Candidates like Adrian Boafo and Ritchie Torres have received significant support, while industry groups push for progress on digital asset legislation before upcoming recess deadlines.

SpaceX stock dropped over 10% after analysts at KeyBanc initiated coverage with a neutral rating and no price target. Concerns about the company’s valuation following its market debut were raised, with analysts suggesting that current growth prospects may already be reflected in the stock’s price. SpaceX also entered the debt market for the first time…

Strategy CEO Phong Le invested $1 million in the company’s STRC preferred stock, which is trading below its $100 par value. The investment comes amid concerns about Strategy’s financing model and the sustainability of its Bitcoin acquisition strategy. Critics, including Peter Schiff and Jeff Dorman, have raised questions about the company’s capital structure.

Fomo raised $75 million in a Series B round led by Index Ventures, with a valuation of $550 million. The platform has 625,000 users and $4 billion in trading volume. The funding comes as venture activity in the crypto space remains strong, with Fomo offering social trading features that have attracted users.