20 May 2025, 06:48

Binance Argues FTX Lawsuit Is Legally Baseless Amid Ongoing Corporate Fraud Allegations

Binance is challenging the FTX estate’s $1.76 billion lawsuit, asserting that the claims are unfounded and a diversion from the actual cause of FTX’s collapse. The dispute centers around allegations

20 May 2025, 06:44

Binance Seeks Dismissal of FTX’s $1.76B Clawback Suit, Calling It ‘Legally Deficient’

Binance called FTX suit legally baseless, blaming collapse on "one of the most massive corporate frauds in history."

20 May 2025, 06:25

New Development in Ripple’s (XRP) Agreement That Could Make History – Another Company Gets Involved

Circle Internet Financial, one of the important companies in the cryptocurrency market, is in talks with Coinbase and Ripple for a possible acquisition ahead of the initial public offering (IPO) process. Ripple’s bid, estimated to be $4-5 billion in XRP and cash components, was rejected by Circle as insufficient, according to banking and private equity sources. Circle, the issuer of the USDC stablecoin, filed paperwork with the U.S. Securities and Exchange Commission (SEC) in April for its long-awaited initial public offering. However, the IPO plans may not happen, as sources close to the company have said Circle has been in informal talks in recent weeks about selling to U.S. crypto exchange Coinbase or payments company Ripple. Circle is seeking a bid of at least $5 billion, the valuation it is targeting in the IPO, according to four banking and private equity executives familiar with the talks. “If Coinbase wanted to buy, Circle would sell in a heartbeat,” one of the people said. Another said the process was fluid and “things change every week.” Circle is reportedly still committed to the IPO process, but a roadmap for the IPO has not yet been announced and the investor roadshow has not yet begun. Related News: Cardano (ADA) Founder Responds to Allegations of Stealing $600 Million Worth of ADA The relationship between Coinbase and Circle goes back a long way. The two companies formed a joint venture called Centre Consortium to issue USDC in 2018. When that partnership ended in 2023, Coinbase acquired a stake in Circle while Circle took full control of USDC. However, the companies still earn jointly from USDC reserve revenues. According to Circle’s S-1 filing with the SEC, the two companies share 50% of USDC reserve revenue, while Coinbase receives all of the revenue generated from USDC held on its platform. Recent financial data suggests that such revenues are increasing for Coinbase. Additionally, under the current agreement, Circle cannot enter into new distribution or partnership agreements related to USDC revenues without Coinbase’s approval, meaning Coinbase has significant control over Circle. Ripple’s $4 billion to $5 billion bid to acquire Circle was reportedly rejected as insufficient. According to Bloomberg’s April report, the offer is thought to consist of XRP and cash components. Ripple’s financial strength is quite remarkable: The company holds 4.56 billion XRP (about $11.77 billion) and an escrow reserve of 37.13 billion XRP (about $95.7 billion). But analysts say Coinbase, a publicly traded company, could be a more attractive buyer because it could quickly raise capital through stock sales or debt if necessary. Coinbase reportedly had $8 billion in cash on its balance sheet as of the end of March. *This is not investment advice. Continue Reading: New Development in Ripple’s (XRP) Agreement That Could Make History – Another Company Gets Involved

20 May 2025, 06:00

Bitcoin Briefly Surpasses $106K Before Pullback, Analyst Sees Stable Momentum

Bitcoin has resumed its upward trajectory in the early hours of Monday, briefly surpassing the $106,000 mark before encountering resistance and experiencing a minor pullback. As of the time of writing, Bitcoin is trading at $104,153, representing a 1% decline over the past 24 hours. Despite this dip, the asset remains in a strong position overall, having posted significant gains over the past several weeks and retaining proximity to its all-time high levels. This price action follows a brief consolidation phase late last week, during which Bitcoin paused after climbing above $104,000. Amid this price performance, CryptoQuant analyst Avocado Onchain recently shared his interpretation of the trend based on derivatives and spot market data. Related Reading: Are Bitcoin Whales About to Cash Out? Key Metric Signals Possible Profit-Taking Ahead Market Buy Volume and Funding Rates Show a Shift in Rally Behavior In his recent analysis, “Bitcoin’s Rebound Without Overheating Is a Clear Sign of a Healthy Bull Market,” Avocado Onchain pointed to a shift in Bitcoin’s behavior around key price milestones. In previous breakout attempts, he noted that Bitcoin’s surge to new all-time highs was often accompanied by a sharp rise in Binance’s market buy volume and funding rates, both of which signaled overheated conditions. These conditions typically resulted in short-term corrections, as traders locked in profits and leverage unwound. However, the analyst observed that the current rebound is unfolding differently. Funding rates on Binance remain stable, and market buy volume is trending downward, which Avocado interprets as a sign of restraint rather than weakness. He argued that, unlike the sharp speculative rallies seen in prior phases, the present environment reflects cautious optimism and sustained accumulation. According to him, this more tempered recovery could be less vulnerable to abrupt pullbacks and instead support a more stable path to potential new highs. 📋 과열 없는 비트코인 반등, 건강한 강세장의 신호(Bitcoin’s Rebound Without Overheating Is a Clear Sign of a Healthy Bull Market) 이번 시즌 비트코인 가격이 신고가를 갱신할 때마다 바이낸스 시장가 매수 거래량과 펀딩비는 크게 상승하였고, 그 후 과열로 인한 조정기간이 찾아오는 유사한… pic.twitter.com/c0JCPzgbfY — Avocado (@avocado_onchain) May 19, 2025 Bitcoin On-Chain Trends Point to Continued Accumulation Avocado further emphasized that although buying activity is not surging at the same rate as in prior runs, the overall trend in market buy volume has been gradually increasing since 2023. He referred to on-chain data that shows a consistent uptrend, suggesting that longer-term investor appetite remains intact. With sentiment still recovering from recent corrections and derivatives markets appearing less overheated, he suggested the market structure is favorable for additional upward momentum in the near to mid-term. Related Reading: Bitcoin Exchange Stablecoins Ratio Surges—A Warning For Investors? While the analyst did not make a specific prediction regarding when Bitcoin might surpass its previous record, he highlighted that the current market conditions do not resemble previous overheated peaks. This, he noted, makes for a more constructive setup and potentially more durable gains if the trend continues. Featured image created with DALL-E, Chart from TradingView

20 May 2025, 05:59

KuCoin Expands DeFi Offerings with GIZA Token Listing, Bot Trading Starts Today

KuCoin lists GIZA, the native token of the Giza Protocol. Trading will begin today. Giza introduces intelligent, autonomous agents to DeFi, enabling adaptive, cross-protocol strategies. The GIZA/USDT pair will launch with full support for KuCoin’s advanced trading bots and automation tools. Leading global crypto exchange KuCoin has officially announced the world premiere listing of GIZA (GIZA), the native utility token of the Giza Protocol. This listing marks GIZA’s debut on a major exchange and brings significant attention to a project focused on revolutionizing decentralized finance (DeFi) through intelligent agent-based automation. Key GIZA Listing Dates on KuCoin: Deposits Live, Trading Opens May 20 The GIZA token will be available for trading in a phased process. Deposits for GIZA are already live, with support for the BASE-ERC20 network. A call auction will take place on May 20, from 12:00 to 13:00 UTC, enabling users to place orders in advance of the full trading session. Spot trading will open at 13:00 UTC on May 20, with the GIZA/USDT trading pair available for active markets. Withdrawals will begin on May 21 at 10:00 UTC. KuC… The post KuCoin Expands DeFi Offerings with GIZA Token Listing, Bot Trading Starts Today appeared first on Coin Edition .

20 May 2025, 05:53

SEC delays decision on Solana ETF applications citing market manipulation concerns

The U.S. Securities and Exchange Commission has delayed its decision on four proposed Solana exchange-traded funds, including filings from Bitwise, 21Shares, VanEck, and Canary. The announcement, shared on a May 19 filing , indicates that the agency will “institute proceedings” to assess whether the ETF proposals meet regulatory standards. This procedural move allows the SEC to extend the review period and open a public comment window. The agency stressed that the institution of proceedings “does not indicate that the Commission has reached any conclusions” on the filings. Instead, the SEC says it needs more time to examine the proposals under the requirements of the Securities Exchange Act, particularly provisions related to fraud prevention and investor protection. Among the delayed filings is the Bitwise Solana ( SOL ) ETF, which was first submitted in January through Cboe’s BZX Exchange. Bitwise’s fund would hold SOL directly, with prices tracked against the CME CF Solana-Dollar Reference Rate. Similarly, 21Shares, already known for its spot Bitcoin ( BTC ) and Ethereum ( ETH ) ETFs, filed its own Solana proposal earlier this year. You might also like: 72 crypto ETFs are awaiting SEC approval, from altcoins to memecoins Despite growing demand, no altcoin ETFs linked to Solana have been authorized in the U.S. to date. The SEC’s cautious approach to growing crypto-based investment products, particularly for assets other than Bitcoin and Ethereum, is reflected in the delays. The SEC is assessing whether the proposals comply with Exchange Act Section 6(b)(5), which requires that listed products be made to “protect investors and the public interest” and “prevent fraudulent and manipulative acts and practices,” according to the filing. The delay also comes amid a wider regulatory bottleneck for digital asset ETFs. Several filings for additional cryptocurrency ETFs, including those for Dogecoin ( DOGE ) and XRP ( XRP ), are still being examined. James Seyffart and Eric Balchunas, Bloomberg ETF analysts, remain hopeful. They estimate a 90% chance of approval for Solana and Litecoin ETFs by late 2025, citing favorable commodity classifications and rising institutional demand. But the future is still unclear. Investors may be left in limbo if the SEC’s request for public input causes the timeline to be further extended. Read more: Crypto languished in ‘SEC limbo’ for years: Paul Atkins reaffirms crypto commitments