Articles for category: Crypto

October 31, 2025

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Sam Bankman-Fried Posts Lengthy ‘FTX Was Never Insolvent’ Document

Sam Bankman-Fried, the former CEO of collapsed crypto exchange FTX, has published an extensive document defending his position and disputing the widely accepted narrative behind the company’s downfall. Shared this week on X, the 30-page report asserts that FTX “was never insolvent” and suggests that legal and procedural issues, rather than poor financial health, led to the company’s bankruptcy. The document includes numerous tables outlining theoretical “mark-to-market” valuations of various assets once held by FTX, such as Solana tokens and shares in the AI startup Anthropic. These calculations imply that, had these assets been valued according to current market prices,

October 31, 2025

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Australian Police Crack Complex Crypto Wallet Unlocking $5.9 Million in Assets

Australian Federal Police (AFP) successfully decrypted a highly encrypted cryptocurrency wallet backup holding approximately 9 million Australian dollars (around $5.9 million USD). The accomplishment was praised by AFP Commissioner Krissy Barrett as “miraculous work,” emphasizing the skill and dedication involved in the investigation. The breakthrough came during an inquiry into an alleged criminal figure described as “well-connected,” who reportedly accumulated substantial cryptocurrency wealth through selling a technology product to other suspects involved in illicit activities. Authorities discovered password-protected notes on the suspect’s mobile device, which contained an image featuring an assortment of seemingly random numbers and words. Commissioner Barrett explained

October 31, 2025

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Research Firm Recommends Shorting Ether to Balance Bitcoin Long Positions

A recent advisory from the research group 10x Research encourages investors holding bullish positions in Bitcoin (BTC) to consider shorting Ether (ETH) as a risk management strategy. This recommendation contrasts with the generally positive outlook for Ether toward the end of the year. Markus Thielen, founder of 10x Research, outlined in a client update that their altcoin model currently favors maintaining long Bitcoin positions while shorting Ether. The rationale centers on signs pointing to a less optimistic outlook for Ether compared to Bitcoin’s steady performance. One key factor cited is the diminished demand from significant buyers of Ether. Bitmine Immersion

October 31, 2025

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Riot Platforms Posts Record Q3 Revenue, Shifts Focus from Bitcoin Mining to Data Center Development

Riot Platforms has reported a historic revenue milestone for the third quarter, yet the company stresses that Bitcoin mining itself is no longer its ultimate objective. Instead, Riot is evolving its strategy to extract maximum value from its available megawatts of power, eyeing a broader transformation toward data center operations. In its Q3 financial results released recently, Riot declared a record quarterly revenue of $180.2 million, marking an increase of 112.5% compared to Q3 2023. The firm also posted a net income of $104.5 million, reversing the $154.4 million net loss recorded in the same period last year. The boost

October 30, 2025

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FourMeme Emerges as Top BSC Memecoin Launchpad, Generating $43M in Monthly Revenue

The Binance Smart Chain (BSC) memecoin launchpad FourMeme has witnessed remarkable growth, surpassing its Solana-based counterpart, Pumpfun, in monthly revenue. Over the past 30 days, FourMeme has generated approximately $43 million in fees, edging out Pumpfun by 13%. This achievement positions FourMeme as the fourth-largest revenue producer within decentralized finance (DeFi), behind only Hyperliquid, Circle, and Tether. As DeFi continues to evolve, multichain memecoin launchpads are increasingly gaining traction. While memecoin trading volumes have generally declined since early 2023, the infrastructure facilitating these trades, including FourMeme, remains highly profitable. Alongside FourMeme and Pumpfun, platforms such as Jupiter, Axiom, and PancakeSwap

October 30, 2025

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AAVE Slips 8% Amid Market Downturn Despite Strong Growth in Real-World Asset Lending

Aave’s governance token, AAVE, experienced a notable decline on Thursday, dropping 8% to trade near $208. This marks a significant pullback from the token’s recent peak of $248 reached earlier in the week, representing an overall loss of more than 16% since Monday. Despite ongoing advances in decentralized finance (DeFi) projects broadly, AAVE encountered sustained selling pressure. The token exhibited a pattern of lower highs and lower lows, signaling bearish momentum. This trend contrasted with the broader market, as many DeFi peers maintained more stable price action during the same period. Trade volumes surged to approximately 40% above average seven-day

October 30, 2025

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US Treasury Eases China Trade Limits Amid Market Wobbles, Crypto Faces Sharp Sell-Off

US Treasury Secretary Scott Bessent announced on Thursday the suspension of certain trade restrictions aimed at curbing Chinese firms’ access to sensitive American technologies. This policy shift comes as part of a negotiated agreement where China consented to halt export controls on rare earth minerals crucial for electronics and defense industries, according to Reuters. The development marks a de-escalation in US-China trade tensions that had recently shown signs of softening. Typically, such improved diplomatic relations act as a positive driver for digital asset prices, offering a degree of market optimism. However, the cryptocurrency sector experienced notable declines Thursday, weighed down

October 30, 2025

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Farcaster’s Acquisition of Clanker Spurs 350% Surge in CLANKER Token Value

Web3 social media protocol Farcaster has announced its acquisition of Clanker, an AI-driven token launchpad operating on the Layer 2 network, Base. This strategic move has propelled the CLANKER token to rise over 350% within the past week, underscoring Farcaster’s commitment to expanding its footprint in the SocialFi sector. Following the acquisition, the CLANKER token hit an all-time peak near $143 on October 26, before settling to approximately $112 by the end of the month. This price jump reflects growing investor confidence as Farcaster integrates Clanker’s innovative AI-powered tokenbot platform more deeply into its ecosystem. Initially launched as a decentralized

October 30, 2025

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Core Scientific Rejects $9B CoreWeave Merger, Opts to Stay Independent

Core Scientific (CORZ) shareholders have voted against the proposed $9 billion all-stock merger with CoreWeave (CRWV), effectively ending this highly anticipated consolidation in the AI data center landscape. Following the announcement, Core Scientific’s stock rose approximately 4.5%, reflecting investor approval of the decision to maintain its independence. In contrast, CoreWeave shares experienced a slight recovery but remain down about 5% for the trading session. The shareholder vote occurred swiftly after proxy advisors and a significant Core Scientific stakeholder recommended opposing the transaction. Critics of the deal argued that the offer undervalued Core Scientific’s future growth prospects and failed to provide

October 30, 2025

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UK Crypto ETN Fee War Erupts Following Retail Market Access Expansion

The United Kingdom has recently expanded access to crypto exchange-traded notes (ETNs) to retail investors, a market segment previously reserved for professional traders. This regulatory shift has triggered aggressive fee competition among ETN issuers competing to attract a growing pool of investors, according to a report by the Financial Times. Since the Financial Conduct Authority (FCA) lifted its 2021 ban on retail access to crypto-related funds on October 8, several Bitcoin ETN providers have significantly reduced their management fees, with some dropping as low as 0.05%. The FT characterized this emerging pricing landscape as a “cut-throat battle” for investor loyalty.