Crypto News

Whales move over 28,000 BTC into accumulation addresses

February 19, 2025 1 min read

CryptoQuant reported that over 28,000 BTC have moved into accumulation addresses. These addresses are usually used by OTC trading desks, institutional investors, and long-term holders, often called whales. Accumulation addresses are not tied to exchanges, showing that Bitcoin is being taken off the market instead of being readied for sale. Big Bitcoin transfers indicate that major investors are buying for the long haul. This activity usually involves OTC deals, meaning

Argentina President Denies Promoting LIBRA

February 19, 2025 2 mins read

President Javier Milei recently addressed the controversy surrounding LIBRA, a meme coin project. In an interview, he denied promoting LIBRA, stating he only shared information about it to help Argentine entrepreneurs. He described the situation as a harsh lesson and plans to tighten access to him in the future. Milei claimed that most investors affected by the LIBRA incident were experienced traders from the U.S. and China, not Argentinians. He

As a shareholder, “Binance is not for sale,” CZ

February 18, 2025 1 min read

The former CEO of Binance, now leading YZi Labs, addressed rumors about the exchange being for sale. He attributed these rumors to fear, uncertainty, and doubt (FUD) from a competitor in Asia. On February 17, he stated on X that as a shareholder, Binance is not for sale. Yi He, Binance’s co-founder, echoed these sentiments. She dismissed the claims as originating from a rival. Yi mentioned that Binance regularly receives

U.S. states invest in Strategy stock to gain indirect exposure to Bitcoin

February 18, 2025 1 min read

Several U.S. states, such as California, Florida, Wisconsin, and North Carolina, are investing in Strategy stock, previously known as MicroStrategy. This investment allows them to gain indirect exposure to Bitcoin. Strategy’s aggressive approach to acquiring Bitcoin has boosted its stock performance. State pension funds view this as a way to benefit from Bitcoin’s long-term potential without directly buying the cryptocurrency. California is leading these investments. The State Teachers Retirement System

Ripple rebrands to focus on cross-border payments and stablecoins

February 18, 2025 1 min read

Ripple has announced a significant rebrand to align with the Internet of Value. The company is shifting its focus to cross-border payments and stablecoins. This change reflects Ripple’s goal to transform global value transfer. On February 14, Ripple shared its rebranding news on X. The company emphasized its commitment to innovation in financial transactions. Ripple’s vision remains the same: to create seamless value transfer worldwide. A key part of this

Pi Network faces criticism over scam claims

February 17, 2025 2 mins read

Pi Network is facing criticism as it approaches its Mainnet launch. Critics question its legitimacy, but analyst Kim Wong defends the project. He highlights its widespread adoption, decentralized blockchain, and compliance with Know Your Customer (KYC) regulations as signs of credibility. Despite his defense, concerns linger about its referral-based mining system, past data breaches, and potential legal issues. In a post on X (formerly Twitter), Wong emphasized the benefits of

Indian officials seize $190M in assets amid BitConnect Ponzi scheme

February 17, 2025 1 min read

Indian officials have seized around $190 million, or approximately Rs 1,646 crore, during an investigation into the BitConnect cryptocurrency fraud. This investigation is led by the Enforcement Directorate (ED) in Ahmedabad. It is part of a broader inquiry into a global Ponzi scheme that collapsed in 2018. The ED announced that it began its investigation under the Prevention of Money-Laundering Act (PMLA). This inquiry is based on FIRs filed by

Argentina’s President Javier Milei faces an investigation after endorsing LIBRA

February 17, 2025 2 mins read

Argentina’s President Javier Milei is facing an investigation for promoting the cryptocurrency LIBRA. His support led to a temporary increase in the token’s value, but it soon crashed. Critics accuse Milei of being involved in a pump-and-dump scheme, where the price is artificially inflated before insiders sell off their holdings for profit. Some are even calling for his impeachment. On February 14, Milei endorsed LIBRA on social media, claiming it

ByBit launches Avalon Token (AVL) on Bybit Spot.

February 17, 2025 1 min read

Avalon Labs has partnered with Bybit, the second-largest crypto exchange, to launch Avalon Token (AVL) exclusively on Bybit Spot. This partnership introduces an incentive-based savings plan through Bybit Earn. Participants can earn annual percentage rates (APRs) of up to 50% during a structured staking period. Approximately 10,000 USDT worth of AVL tokens will be distributed to qualified users as rewards. Avalon Labs is the largest issuer of Bitcoin-backed stablecoins. Their

Argentina’s LIBRA token drops by over 90%

February 16, 2025 1 min read

Argentina’s recent launch of the $LIBRA token has caused a stir in the cryptocurrency market. Promoted by President Javier Milei, the Solana-based meme coin initially soared to a market cap of $4.5 billion. However, it quickly collapsed by about 90% due to doubts about its legitimacy. After reaching a peak price of $4.50, LIBRA’s value fell to around $0.50, with a trading volume of $1.1 billion. Following this drastic drop,

The SafeMoon team launches a memecoin on Solana (SOL)

February 15, 2025 1 min read

The SafeMoon team is set to launch a new memecoin on the Solana blockchain. This event will take place on Saturday at 1:00 AM UTC. The team has taken significant steps to manage their existing tokens. They have burned 2.2 trillion SFM tokens across three networks: Ethereum, Polygon, and Binance Smart Chain. Most of the tokens on Ethereum and Polygon have been eliminated. Additionally, about 60% of the Binance Smart

Ethereum Foundation sends $120 million worth of ether to DeFi lending protocols

February 15, 2025 1 min read

The Ethereum Foundation has recently moved some of its ether holdings into decentralized finance (DeFi) protocols. This decision involves transferring a total of 30,800 ether, valued at $81.6 million, into Aave, which is the largest DeFi lending platform. From its multi-signature wallet, the foundation deposited 20,800 ETH, worth $55 million, into Aave’s core market. Additionally, 10,000 ETH, valued at $26 million, was placed in Aave Prime. Moreover, the foundation allocated