Invest ideasNews
18 May 2026, 23:24
Crypto fraudster gets 9 years as it is still America's fastest-growing crime
Ohio resident who led a crypto investment fraud operation by collecting more that $10 million has been sentenced to nine year prison term by a federal judge. The fraud investment manager, Rathnakishore Giri will be under surveillance for another three years after his release. Court records show he lured investors by presenting himself as a skilled cryptocurrency trader who specialized in Bitcoin derivatives trading. He commited with potential investors profitable returns without any risk to their initial investment under his protection. Behind the curtains Giri had a classic pyramid scheme running. He took money from new investors to return it to previous ones. This is because he was losing all his bets were proving unsuccessful, causing loss to the people’s money. He would make false reason for refunds. In October 2024, Giri confessed to one wire fraud charge. However, he wouldn’t stop there. During the time he waited from jos sentencing hearing, he kept on with his act asking more investors for money, bringing in more victims under his web. Before Monday’s sentencing , Giri acknowledged this additional wrongdoing through an updated agreement with the Department of Justice. Court filings show Giri attracted investors by talking about his supposed wealth and expensive lifestyle. He owned two Lamborghini sports cars, a Tesla, and an Audi R8. He displayed costly watches, traveled on private aircraft, and stayed in high-end rental properties. Rather than putting all investor money into cryptocurrency trading as he had promised, Giri used some of the funds for his own spending or to pay back earlier investors, following the typical pattern of a pyramid scheme. Crypto scams hit record levels nationwide According to an FBI report crypto frauds have drained 11.4 billion from Americans last year. The report, as mentioned by Cryptopolitan previously, described these schemes as elaborate, long-running operations that use psychological tactics, false legitimacy, and the complexity of cryptocurrencies to trick victims into putting in large amounts of money. The FBI found that most crypto scams come from organized criminal groups operating in Southeast Asia. These groups often force human trafficking victims to work running the scam operations. The number of victims jumped in 2025, with 181,565 complaints involving cryptocurrency, a 21 percent increase. The average loss per case reached $62,604, showing victims typically lose substantial sums rather than small amounts. Nearly 18,600 people each lost over $100,000, suggesting many victims are losing savings and retirement money. Cryptocurrency scams now represent a major part of a broader increase in online fraud. Americans filed more than 1 million cybercrime complaints in 2025, with total losses exceeding $20.8 billion. The cryptocurrency industry is responding to the threat Binance, the largest cryptocurrency exchange by trading volume, announced that its artificial intelligence security systems stopped more than $10.5 billion in user losses from early 2025 through the first quarter of 2026. The exchange blocked 22.9 million scam and phishing attempts in just the first quarter of 2026, protecting about $1.98 billion in user money. Binance reported that fraudsters are increasingly using AI technology to launch attacks. The company said 76 percent of AI-driven scams now fall within the highest category for both size and severity. If you're reading this, you’re already ahead. Stay there with our newsletter .
18 May 2026, 23:22
Iran’s Nobitex moved $2.3 billion through crypto networks tied to Trump
Nobitex, Iran’s biggest crypto exchange, handled at least $2.3 billion on Tron and BNB Chain since 2023, based on a blockchain investigation by Reuters. The two networks were built around Justin Sun and Changpeng Zhao, two crypto billionaires who also gave early support to World Liberty Financial, the Trump family’s crypto project. The money kept running through those chains as the United States and Israel continue their war against Iran. Iranian users sent billions through chains linked to Sun and Zhao Since January 1, 2023, Nobitex handled more than $2 billion on Tron, and it also handled at least $317 million on BNB Chain, the network once known as Binance Smart Chain. Since Trump’s war started in February, at least $22.6 million passed through Nobitex on BNB Chain, while at least $550,000 went through Tron. Nobitex is used by regular Iranians and sanctioned Iranian bodies, and it is allegedly controlled by two brothers from a powerful Iranian family with ties to Iran’s new supreme leader. But Nobitex has vehemently denied direct Iranian government ties, as well as helping the state, saying that any illegal funds that passed through its platform did so without approval or knowledge from management. Nevertheless, the exchange has been a major part of Iran’s crypto rails since as far back as 2022 when $7.8 billion in crypto reportedly passed between Nobitex and Binance from 2018 to 2022. Around three quarters of that Iranian-linked activity used Tron’s cryptocurrency, as Nobitex allegedly told clients Tron-based crypto could help them trade anonymously without “endangering assets due to sanctions.” Source: Arkham Intelligence John Reed Stark, a former chief of the SEC Office of Internet Enforcement, called the use of those chains by institutions in a country at war with the United States a “dramatic irony.” He said, “The entities doing crypto financing through these platforms are the very ones that the president is trying to defeat in the war.” The White House rejected the link. Spokeswoman Anna Kelly said, “Reuters’ bizarre attempts to link President Trump to Iran’s banking system are totally laughable.” She directed questions to World Liberty Financial. A World Liberty spokeswoman said the company has no relationship with Nobitex and follows U.S. law. She said, “World Liberty does not own, operate, or control Tron in any way, and has no authority over transactions conducted on it.” World Liberty gained support from crypto figures while Iran used the same networks Ana Nicoara, a BNB Chain spokeswoman, said, “BNB Chain is a public, permissionless blockchain maintained by an independent global community of validators. It is not an exchange, not a company, and not Binance.” While a Tron spokeswoman said the network is a technology provider and cannot “monitor and investigate every user and every transaction” or stop every trade. She said Justin helped create a law enforcement program that has frozen “hundreds of millions” in funds, including assets “tied to sanctioned entities and terror financing.” Crypto exchanges like Binance let users buy and trade coins. Blockchains like Tron and BNB Chain record wallet activity on public ledgers. They host many assets, including native coins and stablecoins like Tether. The Iranian-linked activity is only a small part of total volume on both networks. Sanders and another Iran crypto specialist said Iran’s central bank used Tron and BNB Chain. The United States sanctioned the bank in 2019 over claims that it gave billions of dollars to the IRGC and Hezbollah. A January report by Elliptic and the two Iran specialists said the central bank bought more than $500 million of Tether through Tron from November 2024 to June 2025. Source: Nobitex Elliptic allegedly said that about $347 million of that amount was sent to Nobitex through Tron in the first six months of last year. The specialists said the bank also swapped the stablecoin into other coins and used other chains, including BNB Chain, before sending part of it back to Nobitex and other exchanges. Since Nobitex started in 2018, analysts estimate it has handled tens of millions to hundreds of millions of dollars linked to sanctioned wallets tied to Iran’s central bank and the IRGC. Tether said it froze several wallet addresses tied to Nobitex after Israel asked it to do so. Israel’s National Bureau for Counter Terror Financing did not comment. Tether said exchanges and platforms must handle compliance when tokens trade on secondary markets. U.S. regulators also pulled back on crypto enforcement after Trump took office. The Securities and Exchange Commission settled a fraud case against Justin in March for $10 million, with no admission of wrongdoing. The smartest crypto minds already read our newsletter. Want in? Join them .
18 May 2026, 23:00
Ethereum Whales Flood Binance With 225,000 ETH In Largest Inflow Since 2022
Ethereum has lost the $2,150 level as selling pressure and market uncertainty combine to erase the recovery that had been building since the February lows. The decline is not gradual — it has the character of a market meeting supply that was positioned and waiting. CryptoOnchain data has identified the origin of that supply, and the picture it reveals is more alarming than a routine price correction. Related Reading: XRP Leverage Expansion Raises Risks Near $1.50 Resistance – A Big Move May Follow In a single day, more than 225,000 ETH was deposited to Binance — the largest net inflow the exchange has recorded in the past six months. The 7-day moving average of exchange netflow has skyrocketed to levels not seen since late 2022, a period that most participants in the Ethereum market remember as one of its most difficult phases. When that specific indicator reaches these levels, it is not describing routine portfolio management. It describes large holders making deliberate, consequential decisions about where their assets should be positioned. The behavioral translation is direct. Investors who keep Ethereum in cold storage — offline, inaccessible, removed from trading — are moving coins onto the world’s largest exchange in volumes that exceed anything the market has absorbed in the past three years. Whether they arrived to sell, to rebalance, or to deploy as collateral for derivatives positions, the act of moving that magnitude of ETH onto Binance is itself a signal that the market cannot ignore. The question CryptoOnchain’s analysis attempts to answer is what those whales are actually planning to do next. 225,000 ETH on an Exchange. Three Possible Reasons. None of Them Are Neutral The CryptoOnchain analysis names the three motivations that could explain a deposit of this scale — and examines what each one means for the market that has to absorb it. The first possibility is profit realization. Large holders who accumulated Ethereum at lower levels and have been sitting on gains may have chosen the current price environment to convert those gains into realized returns. At scale, that behavior creates direct selling pressure that the market must absorb before the price can stabilize. Ethereum Exchange Netflow | Source: CryptoQuant. The second spike is defensive repositioning. Holders concerned about further downside moving coins onto exchanges to enable faster exits are not selling yet — but they are reducing the friction between their position and the sell button. The increasing possibility of selling ETH is on the rise. The third is collateral deployment. Institutional participants moving ETH onto exchanges to back aggressive derivatives positions are not necessarily bearish on the asset — but the leverage they build on top of that collateral creates the fragility that amplifies any adverse move. All three explanations converge on the same market consequence. 225,000 ETH arriving on Binance from cold storage represents supply that was previously unavailable to the market and is now immediately accessible. The CryptoOnchain assessment is direct: major holders are positioning defensively, and the market is entering a period of severe turbulence and highly unpredictable price action as that supply meets whatever demand exists to absorb it. Ethereum losing $2,150 is the early expression of that meeting. Whether it is the full expression depends on which of the three motivations is driving the largest share of the inflow. And that question the coming sessions will begin to answer. Related Reading: Bitcoin Cannot Clear $82K – Analyst Explains How Traders Are Using Every Rally to Exit Ethereum Loses Momentum As Sellers Push Price Back Below Key Averages Ethereum is trading near $2,110 after losing the short-term recovery structure that had supported price throughout most of April and early May. The daily chart shows ETH breaking back below the 100-day moving average while continuing to trade far beneath the 200-day moving average, a signal that the broader trend remains under pressure despite previous rebound attempts. Ethereum consolidates below key Moving Averages | Source: ETHUSD chart on Tradingview After recovering strongly from the February capitulation event near $1,800, Ethereum managed to establish a local range between $2,200 and $2,400. However, repeated failures to reclaim higher resistance levels gradually weakened bullish momentum. The latest rejection near the $2,350 region triggered a new wave of selling pressure that has now pushed ETH back toward the lower end of its multi-week consolidation zone. Related Reading: The 2022 Playbook Says Bitcoin Fails Here. On-Chain Data Says This Cycle Is Different Volume has also started increasing during the recent decline, suggesting that the move lower is being driven by active selling rather than passive lack of demand. This aligns with the recent surge in Binance ETH inflows, which raised concerns about growing exchange-side supply pressure from larger holders. The $2,050-$2,100 region now becomes a critical short-term support area. If Ethereum loses this zone decisively, the market could revisit the broader demand region between $1,900 and $2,000, where buyers previously stepped in aggressively after February’s crash. Featured image from ChatGPT, chart from TradingView.com
18 May 2026, 22:20
SEC to propose tokenized stock framework as Wall Street efforts deepen: Bloomberg
The U.S. Securities and Exchange Commission is reportedly poised to release a major crypto proposal as it seeks to institute its digital assets agenda.
18 May 2026, 22:05
Indian Rupee Slumps to Fresh All-Time Lows as Oil Prices Extend Advance
BitcoinWorld Indian Rupee Slumps to Fresh All-Time Lows as Oil Prices Extend Advance The Indian rupee weakened to a fresh all-time low against the US dollar on Monday, breaching the 85.50 mark for the first time as a sustained rally in global crude oil prices intensified pressure on India’s trade balance and import bill. The currency has now lost over 3% against the dollar in 2025, making it one of the worst-performing Asian emerging market currencies this year. Oil Price Surge and Its Impact on the Rupee Brent crude futures extended their advance above $82 per barrel, driven by tighter global supply expectations following OPEC+ production cuts and renewed geopolitical tensions in the Middle East. For India, which imports over 85% of its crude oil requirements, every $10 per barrel increase in oil prices adds roughly $15 billion to the annual import bill and widens the current account deficit. The direct correlation between oil prices and the rupee’s exchange rate is well-documented. Higher import costs increase demand for US dollars from Indian refiners and importers, while simultaneously reducing foreign investor confidence in rupee-denominated assets. This twin pressure has pushed the currency to successive record lows over the past six weeks. RBI Intervention and Policy Dilemma The Reserve Bank of India has been actively intervening in the forex market to curb volatility, selling US dollars from its reserves to support the rupee. Data from the central bank shows that India’s foreign exchange reserves declined by approximately $8 billion in the last two reported weeks, signaling sustained intervention. However, analysts note that the RBI faces a difficult trade-off: aggressive dollar sales risk depleting reserves, while allowing further rupee depreciation would stoke imported inflation. Governor Shaktikanta Das has repeatedly stated that the central bank does not target a specific exchange rate level but aims to prevent excessive volatility. Market participants interpret this as a signal that the RBI will allow gradual depreciation but will step in to prevent disorderly moves. What This Means for Indian Consumers and Businesses The rupee’s decline has immediate and tangible consequences for the Indian economy. Import-dependent sectors such as electronics, machinery, and chemicals face higher input costs, which are likely to be passed on to consumers. Fuel prices, already under pressure from global crude trends, could see further upward revisions if the rupee continues to weaken. For businesses with foreign currency debt, the depreciation increases repayment burdens and squeezes profit margins. On the positive side, export-oriented sectors such as IT services, pharmaceuticals, and textiles benefit from a weaker rupee, as their revenues in dollars translate into higher rupee earnings. However, the net impact on the economy is generally negative when depreciation is driven by external shocks rather than domestic competitiveness gains. Outlook and Key Levels to Watch Traders and analysts are closely watching the 86.00 level against the dollar as the next psychological resistance. A breach of this level could trigger further stop-loss selling and accelerate depreciation. Key factors that will determine the rupee’s trajectory in the coming weeks include the trajectory of crude oil prices, the US Federal Reserve’s interest rate path, and the scale of RBI intervention. Market expectations for a rate cut by the RBI have diminished in recent weeks, as the central bank prioritizes currency stability and inflation control over growth support. The next monetary policy meeting in February will be closely watched for any shift in stance. Conclusion The Indian rupee’s slide to fresh all-time lows reflects the compounding pressures of elevated oil prices, a strong US dollar, and widening trade imbalances. While the RBI has tools to manage volatility, structural solutions to reduce India’s oil import dependence remain a medium-term challenge. For now, the currency is likely to remain under pressure until global oil markets stabilize or the dollar rally loses momentum. FAQs Q1: Why does the Indian rupee fall when oil prices rise? India imports most of its crude oil, so higher prices increase demand for US dollars from refiners and importers. This creates excess dollar demand in the forex market, pushing the rupee lower against the greenback. Q2: What is the RBI doing to support the rupee? The RBI sells US dollars from its foreign exchange reserves in the open market to increase dollar supply and reduce volatility. It also uses tools like tightening liquidity and adjusting interest rates to support the currency. Q3: How does a weak rupee affect the average Indian consumer? A weaker rupee makes imported goods more expensive, including crude oil (which affects fuel prices), electronics, machinery, and edible oils. This can lead to higher inflation and reduced purchasing power for consumers. This post Indian Rupee Slumps to Fresh All-Time Lows as Oil Prices Extend Advance first appeared on BitcoinWorld .
18 May 2026, 20:18
Hyperliquid's USDC deal could supercharge HYPE, pressure Circle, Coinbase margins, analysts say
The revenue share deal could shift an estimated $160 million in revenue from Coinbase and Circle into Hyperliquid's ecosystem, Compass Point analysts said.
