Three former executives of the now-defunct crypto lender Cred faced indictments for alleged involvement in wire fraud and illicit financial transactions. Daniel Schatt, ex-CEO and co-founder, alongside Joseph Podulka, former CFO, and James Alexander, former chief capital officer, were indicted by the U.S. Attorney's Office in California. Schatt and Podulka were apprehended, appearing in a San Francisco court following their arrests.
23,367 Bitcoin contracts worth $1.39 billion approach expiration. Market dynamics reveal a put-to-call ratio of 0.50, signaling a balanced sentiment. The maximum pain point stands at $61,000, a crucial threshold where financial losses could be significant for many holders. Alongside Bitcoin, nearly 334,248 Ethereum contracts, with a notional value of around $1 billion, are set to expire. Ethereum's put-to-call ratio is 0.36, suggesting a more bullish sentiment compared to Bitcoin. The maximum pain point for Ethereum is $3,000, highlighting a key price level where market participants may experience significant losses.
On Wednesday, the U.S. central bank stood firm, maintaining an unchanged federal funds rate amidst economic uncertainty. FOMC members, in a press release, underscored their vigilant stance on inflation risks, describing the economic outlook as "uncertain". Emphasizing their commitment to bolstering economic stability, the committee opted to sustain the target range for the federal funds rate at 5-1/4 to 5-1/2 percent.
Australia's ASX stock exchange aims to introduce its first batch of spot bitcoin exchange-traded funds (ETFs) by the end of 2024. Leading issuers, including VanEck and local firms BetaShares and DigitalX, have already filed ETF applications. According to an ASX spokesperson, ASX, commanding 80% of local trades and having a market capitalization of $2.7 trillion as of March, is in discussions with issuers keen on crypto asset-based ETFs.
Ethereum's gas fees hit a six-month low at $1.12 despite ETH's slight weekend rally to $3,191. Santiment suggests this drop could herald an altcoin surge, as traders' sentiments fluctuate between optimism and pessimism, reflected in transaction fees.
Whale Alert, a blockchain tracking platform, reported two significant DOGE whale transactions totaling 456.82 million DOGE, transferred to Coinbase, a leading cryptocurrency exchange. The first transaction involved 228.10 million DOGE valued at $34.34 million, followed by a second transfer of 228.72 million DOGE worth $34.43 million.
BlackRock iShares Bitcoin Trust (IBIT) has seen its first day of $0 inflows since Bitcoin ETFs were established in the United States in January. Since its inception, IBIT has continually attracted multimillion-dollar contributions, totaling approximately $15.5 billion in just 71 days.
Chainlink officially announced on Wednesday that the Cross-Chain Interoperability Protocol (CCIP) has entered general availability (GA). This new development eliminates the need for developers to seek permission to transfer tokens, send messages, and combine data and value transfers across different blockchains. The protocol could now support programmable token transfers with the supported blockchains, including Arbitrum, Avalanche, and Ethereum.
Changpeng Zhao, Binance's founder, has admitted to breaching U.S. anti-money laundering laws, with the Department of Justice recommending a 36-month prison sentence. The plea follows the revelation that Binance, under Zhao's direction, neglected to report over 100,000 suspicious transactions, including those tied to terrorist groups like Hamas, al Qaeda, and ISIS.
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