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4 May 2026, 19:40
Payward, Kraken's parent company escalates $25M fraud with former partner, CEO
Payward, the parent company of crypto exchange Kraken, filed a second amended complaint today, May 4, 2026, alleging that former custody partner Etana and its CEO Dion Brandon Russell misappropriated over $25 million in customer reserve funds through what the filing called a “Ponzi-like” scheme. The lawsuit, which was filed in the U.S. District Court for the District of Colorado, escalated the legal tensions by accusing Etana of serious fraud allegations. According to Payward, Etana mixed Kraken customer reserves with its own capital and used the money to fund risky investments. While this was happening, Etana issued account statements showing fully intact balances, according to reports. Payward accuses Etana of ‘Ponzi-like’ scheme Payward’s filing revealed a pattern of misuse spanning several years. The Wyoming-based exchange had entrusted Etana with hundreds of millions of dollars as part of a fiat on-chain partnership. The lawsuit also alleged that Etana channeled at least $16 million of Kraken’s funds into promissory notes issued by Seabury Trade Capital. Those notes later bounced, and Payward claims the money was never returned. The filing also claims that Etana used customer assets to fund its own forex strategy and kept all the profit for itself. When Kraken attempted to withdraw around $25 million from its reserves in April 2025, Etana stalled. Payward claims Etana faked accounting issues and gave misleading excuses because it simply did not have enough liquidity to fulfill the request. Apparently, instead of returning the funds, Etana was using new deposits from other customers to cover their previous losses. Throughout this period, Etana’s dashboard updates and account statements continued to show that customer balances were secure and fully accounted for, according to the filing. How did Etana collapse? Colorado regulators issued cease-and-desist and suspension orders against Etana in 2025. Around November, Etana entered statutory liquidation proceedings and is now under the control of a court-appointed receiver . The financial picture for Etana does not look good. The court-appointed official reported holdings of roughly $6.83 million despite owing more than $26 million in losses, most of which belong to Kraken. To make things worse, Etana’s digital assets became temporarily unavailable in March 2026 after Amazon Web Services (AWS) took down the company’s account because of unpaid fees. While the federal case against the official Etana entity is currently on hold, the case against Russell personally continues to proceed. Payward claimed that he had nearly total control over daily operations and personally ordered the misuse and concealment of user funds. As a result, the exchange wants at least $25 million in damages, along with triple damages for theft, a court order to stop further misconduct, and legal fees. Counterparty risk remains a core crypto problem This case highlights a real problem affecting cryptocurrency. While users regularly trust exchanges and lenders with their assets, most of the safeguards available in traditional finance (segregation of funds, deposit insurance, standardized regulation, etc) has not been consistently enforced across the industry. The recent failures from both large players like FTX and smaller projects have demonstrated how quickly trust can disappear when users realize their money isn’t there. Etana now joins other struggling firms, such as the institutional lender Blockfills , which went bankrupt in March after stopping withdrawals. Blockfills reported around $75 million in losses and is now facing its own lawsuit for misusing customer funds, according to Cryptopolitan . Payward’s recovery depends on the receivership claims process and any other insurance proceeds. The receiver is cooperating by producing documents and making former staff available for questioning, but Etana’s remaining assets fall quite short of what is owed, thus setting up a drawn-out creditor fight in Colorado’s federal court. Payward is no stranger to litigation. The SEC officially closed the civil enforcement case it leveled against Kraken in March 2025. The SEC dismissed the case with prejudice, meaning it cannot be reopened. Still letting the bank keep the best part? Watch our free video on being your own bank .
4 May 2026, 19:30
Does The Ethereum 300% Boost In Capacity Mean Price Can Rise 3x To $6,000?
The upcoming Ethereum scaling upgrade is drawing attention across the market, raising a critical question about whether a major leap in network capacity can translate into equally strong price growth. The idea sounds straightforward, but the relationship between infrastructure and valuation is rarely that direct. Does A 300% Capacity Increase Translate To A 3x Ethereum Price Move? The conversation begins with the expected “Glamsterdam” upgrade, recently highlighted by crypto commentator @Hasufl. The upgrade is set to raise Ethereum’s gas limit from about 60 million to roughly 200 million, marking a jump of more than three times its current execution capacity. There are also indications that this capacity may grow even further after the upgrade goes live. Related Reading: Bitcoin Renko Mari-Ashi Reveals Where The Bottom Lies And When The Rise Will Begin Again This shift is not coming from a single change, but from several improvements working together. Proposer-builder separation gives more time for blocks to be assembled, helping transactions get processed more efficiently. Block access lists allow systems to prepare transaction data in advance, making it easier to handle multiple processes at once. Moreover, gas repricing adjustments are being introduced to better match actual resource usage, helping the network safely support higher limits. A related proposal also increases the cost of creating new data on the network, helping prevent it from growing too quickly. Following coordinated efforts involving over 100 developers, there is now alignment around maintaining a gas limit close to 200 million after the upgrade. The direction is clear: increase how much the network can handle while keeping it stable and efficient. Even with this strategy, higher capacity alone does not guarantee higher demand. Without a matching rise in usage, the impact remains more about improving structure than directly influencing price. Lower Fees And Market Dynamics: Can $6,000 Be Reached? One of the most notable implications of this upgrade is the possibility that transaction fees could remain near zero for an extended period if usage does not rise at the same pace as capacity. While lower fees improve accessibility and make the network more attractive to users and developers, they also reduce the congestion-driven pressure that has historically accompanied strong price rallies. Related Reading: Industry Expert Samson Mow Reveals When The Bitcoin Price Will Hit $1M Ethereum is currently trading around $2,363 and is up by 2.2% over the past seven days, reflecting steady but moderate market movement. A rise to $6,000 would represent roughly a threefold increase, but such a move would require more than improved efficiency. It would depend on a significant expansion in user activity, capital inflows, and sustained demand across applications built on the network. Past market cycles show that price surges tend to follow periods of intense adoption rather than infrastructure upgrades alone. While the Glamsterdam upgrade strengthens Ethereum’s long-term scalability and positions it for future growth, it does not directly drive valuation upward on its own. In clear terms, a 300% increase in capacity does not equate to a 300% increase in price. The upgrade lays the groundwork, but market demand remains the deciding factor in whether Ethereum can approach the $6,000 level. Featured image created with Dall.E, chart from Tradingview.com
4 May 2026, 19:26
Bitcoin swings as Iran tensions push oil up 5 percent
🚨 Bitcoin saw wild price swings after Middle East tensions spiked. The $80,000 level drew intense focus in $BTC trading. 😮 Critical data: Oil prices surged over 5 percent on Iran news. Continue Reading: Bitcoin swings as Iran tensions push oil up 5 percent The post Bitcoin swings as Iran tensions push oil up 5 percent appeared first on COINTURK NEWS .
4 May 2026, 19:11
XRP stabilizes at $1.41 as traders eye $1.50 breakout
🟢 XRP is trading steadily at $1.41 as investors await a breakout move. Current momentum is shaped by repeated tests of the $1.34–$1.37 support zone in $XRP. 🧐 Critical data points to $1.50 as the next major target while downside risk remains if $1.34 breaks. Continue Reading: XRP stabilizes at $1.41 as traders eye $1.50 breakout The post XRP stabilizes at $1.41 as traders eye $1.50 breakout appeared first on COINTURK NEWS .
4 May 2026, 19:06
XRP Price Prediction: OpenAI CFO Joins XRP Firm Ahead of Nasdaq Listing
XRP price is now trading at the $1.40 level, and the prediction around it turns bullish. A headline board appointment has injected fresh institutional credibility into the Ripple ecosystem. Evernorth Holdings, the Ripple-backed XRP treasury company , filed its second SEC S-4 amendment this week, naming OpenAI Foundation CFO Robert Kaiden and Antalpha COO Derar Islim as independent directors ahead of its planned Nasdaq listing under ticker XRPN. EVERNORTH HIRES OPENAI CFO AHEAD OF NASDAQ LISTING $XRP treasury firm @evernorthxrp are preparing for their Nasdaq listing $XRPN and ahead of this they've appointed OpenAI CFO Robert Kaiden to its board! Evernorth has raised over $1B and currently holds 473 million $XRP pic.twitter.com/A8GFC0nn2p — ALLINCRYPTO (@RealAllinCrypto) May 4, 2026 The filing also confirms Ripple CLO Stuart Alderoty on the board, alongside a 126.79 million XRP anchor commitment from Ripple Labs itself. Evernorth holds over 473 million XRP valued at approximately $656 million, and is targeting a Q2 2026 Nasdaq debut via SPAC merger with Armada Acquisition Corp II. XRP TREASURY EVERNORTH FILES UPDATED SEC DOCUMENTS AHEAD OF XRPN LISTING @Ripple -backed $XRP treasury firm, Evernorth has filed an updated Form S-4 as it moves closer to a Nasdaq debut. The firm plans to go public via merger with Armada Acquisition Corp II. It holds over 473… pic.twitter.com/MjUnROPQ5u — BSCN (@BSCNews) May 4, 2026 The board build-out signals governance is being hardened for public markets. But is it the time to buy? Discover: The best crypto to diversify your portfolio with XRP Price Prediction: $3 Too Much to Ask? At the $1.40 level, XRP is consolidating in the lower half of its post-2024 impulse range. Recent Ripple-related developments have repeatedly tested XRP’s ability to hold ground above the $1.20–$1.30 support band, and that floor remains the critical level to monitor. XRP USD, TradingView Elliott Wave identifies the current structure as a potential ABC correction bottom, with a confirmed breakout targeting the $2.50–$3.30 range depending on market sentiment. Bitcoin’s behavior is the swing variable here. Macro analyst DonAlt, who called XRP’s prior 700% rally, ties XRP’s next leg to Bitcoin holding above $73,500 support, with resistance capped near $80,000. A clean Bitcoin reclaim of that upper band would likely provide the liquidity and risk-on sentiment XRP needs to attempt a genuine breakout. If it's not all over I think XRP probably does the same thing from here as it did when I last shilled it at $0.60 Would be cool if the market didn't rob us of the opportunity Could happen though BTC is trading like absolute dogshit after all — DonAlt (@DonAlt) November 18, 2025 Longer-term, analysts project XRP reaching $10 by year-end, a target that would require a market cap surpassing $607 billion, ahead of Ethereum’s current valuation. That scenario demands institutional inflows at a scale XRP hasn’t yet demonstrated. Goldman Sachs’ $153.8 million XRP ETF position and the NYSE Arca commodity trust filing move the needle, but $10 remains the optimistic outlier, not the consensus. Ripple’s own IPO valuation near $40 billion adds a separate but reinforcing narrative thread that keeps institutional attention on the XRP ecosystem through mid-2026. Discover: The best pre-launch token sales Maxi Doge Eyes Early-Stage Upside as XRP Consolidates Below Breakout XRP’s setup is constructive, but the asymmetry that early XRP holders captured simply doesn’t exist at this entry point. Traders chasing a 2x from here are playing a different game than those who loaded sub-$0.50. That gap in risk-reward is exactly where early-stage presales attract attention from market participants seeking aggressive upside without waiting for an established asset to rediscover momentum. Maxi Doge ($MAXI) is one presale capturing that rotation. Built on Ethereum, the project leans into a deliberately unsubtle identity. It is a 240-lb canine juggernaut representing a 1000x leverage trading culture. Less absurd than it sounds when the numbers are considered. The presale has raised $4.7 million at a current price of $0.0002816 , with 60% APY staking bonus available to early holders only. Features include holder-only trading competitions with leaderboard rewards and a Maxi Fund treasury allocated toward liquidity and partnerships. Check out the Maxi Doge Presale Here and Join The Best Dog This Year The post XRP Price Prediction: OpenAI CFO Joins XRP Firm Ahead of Nasdaq Listing appeared first on Cryptonews .
4 May 2026, 19:02
Analyst Says XRP Will Breakout of This Wedge Very Soon
XRP trades in a tightening range as momentum builds toward a decisive move. Crypto analyst Bird (@Bird_XRPL) highlighted this setup, stating that XRP is about to break out of the wedge shown on his chart. The chart shows a clear technical structure on the daily timeframe, with XRP’s price compressing between converging trendlines. This pattern formed after a sharp drop in early 2026 . XRP then entered a period of consolidation, producing lower highs and higher lows. This created a symmetrical wedge, often associated with volatility expansion once the price reaches the apex. The chart places XRP near $1.38, with recent candles showing reduced range and steady support above $1.30. XRP is going to breakout of this wedge very soon. pic.twitter.com/dqmFkXLhLz — Bird (@Bird_XRPL) May 3, 2026 Wedge Structure Defines Key Levels The upper resistance trendline slopes downward from a February high near $1.7. Each attempt to break above this line has failed, reinforcing its significance. The lower support trendline rises from a February low near $1.12, holding through multiple retests. This compression zone now narrows as XRP approaches the tip of the wedge. Price action shows consistent respect for both boundaries. Buyers step in at higher levels, while sellers gradually reduce their pressure. This balance often precedes a breakout , as one side eventually takes control. The current position near the wedge’s midpoint suggests limited room for continued sideways movement. A breakout attempt appears likely in the near term based on the structure alone. Momentum Builds Toward a Breakout Recent candles show smaller bodies and tighter ranges, signaling declining volatility. This behavior aligns with Bird’s expectation of an imminent move. His projection on the chart points upward, indicating a bullish breakout scenario . We are on X, follow us to connect with us :- @TimesTabloid1 — TimesTabloid (@TimesTabloid1) June 15, 2025 If XRP breaks above the descending resistance, it could target prior highs near $1.7 and extend toward $1.9. These levels align with visible resistance zones on the chart. A confirmed breakout would require strong daily closes above the trendline, supported by increased volume. What Comes Next for XRP? The structure shows a shift from aggressive selling to controlled consolidation . The earlier decline lost momentum as buyers stabilized XRP above key support levels. This transition strengthens the case for a directional move. XRP now sits at a critical technical point. The wedge formation limits downside while compressing price into a decision zone. Bird’s view that a breakout will happen very soon aligns with the narrowing structure. Disclaimer : This content is meant to inform and should not be considered financial advice. The views expressed in this article may include the author’s personal opinions and do not represent Times Tabloid’s opinion. Readers are advised to conduct thorough research before making any investment decisions. Any action taken by the reader is strictly at their own risk. Times Tabloid is not responsible for any financial losses. Follow us on X , Facebook , Telegram , and Google News The post Analyst Says XRP Will Breakout of This Wedge Very Soon appeared first on Times Tabloid .
