hodler

26 May 2026, 15:56

Ex-Hodlnaut CEO faces 20 years in prison over Terra fallout

The government of Singapore has indicted the former CEO of the popular crypto exchange, Hodlnaut, on six charges of fraud. This is due to false representation resulting from the company’s collapse during the market volatility of 2022. The UST collapse in early May 2022 led to losses across the crypto sector. Hodlnaut was not left out. The company invested $317 million from its user accounts in the Anchor Protocol on Terra without disclosing these details to customers, and when UST went down, they suffered losses of $189.7 million. Hodlnaut’s collapse and the CEO’s hand in it Hodlnaut was founded in April 2019 as an online platform that enabled people globally to deposit their Bitcoin, Ethereum, and stablecoins holdings in return for interest payments. Simon Lee and Zhu Juntao served as the co-founders of Hodlnaut. In this regard, Zhu Juntao, a 36-year-old Singaporean, studied at Singapore Management University and had experience working at Credit Suisse. Under his management, Hodlnaut grew into a company handling over 30,000 clients, yielding up to 10% annual percentage yield (APY), and managing investments worth approximately $750 million. After Terra’s collapse, Hodlnaut suspended customer withdrawal requests in June 2022 and eventually entered judicial management. When the platform was shut down in August 2022, the company had an estimated $281 million owed to its users, while its assets totaled $88 million, resulting in a deficit of roughly $193 million. As a simple yield generator in the emerging world of decentralized finance, Hodlnaut attracted investors who wanted to earn from crypto without the complicated processes involved in transactions. Mismanaged PR and false promises to customers The prosecution claims that Zhu Juntao instructed his employees to make false promises during and after the UST’s collapse. From May until July 2022, Zhu allegedly incited his employee named Goh Chang Teck, to make false promises in the official Hodlnaut Telegram chat group. In one such case, made before May 25, 2022, he allegedly made a false promise that there was no direct involvement of the company in LUNA or UST and that none of the company’s funds were invested in these assets. Zhu is also claimed to have instructed Megan Lois Lau Shi May, an employee, to send an email to approximately 30 users in 2022. The email stated that Hodlnaut had not incurred any losses as a firm, even though users trading UST on the platform had suffered those losses. Furthermore, Zhu himself posted three times in June 2022 on his personal X account (formerly Twitter). Some of these included: “Hodlnaut as a firm did not take any losses on UST, users who held/bought UST on our platform did,” “Missed this but had no price exposure to $UST or incurred any losses from the debacle,” and others. Charges lay in wait, court appearances, and maximum prison penalties Zhu appeared in court on May 26, 2026, when he was officially charged with committing six counts of fraud by false representation under Section 424A(1)(a) read with Section 424A(3) of the Penal Code 1871. There were three additional counts under Section 109 related to abetment. He pleaded not guilty and contested all the accusations. A pre-trial hearing was set for June 2026. If found guilty of any of the counts, Zhu is liable to serve up to 20 years in prison, pay a fine, or both. The Singapore police have used the case to issue general warnings to the public about investing in digital assets, given their extreme volatility and other factors. Don’t just read crypto news. Understand it. Subscribe to our newsletter. It's free .

26 May 2026, 15:50

Canadian Dollar Range Signals Possible Reversal Against US Dollar, Scotiabank Says

BitcoinWorld Canadian Dollar Range Signals Possible Reversal Against US Dollar, Scotiabank Says The Canadian dollar is showing technical range signals that could foreshadow a trend reversal against the U.S. dollar, according to foreign exchange analysts at Scotiabank. The observation comes as the currency pair trades within a tightening band, a pattern often associated with impending directional moves. Scotiabank’s Technical View on USDCAD Scotiabank’s FX strategy team noted in a recent research note that the Canadian dollar has been consolidating within a relatively narrow range against its American counterpart. Such range-bound behavior, particularly when accompanied by declining volatility, can signal that the market is building momentum for a breakout or reversal. The analysts highlighted that while the overall trend has favored the U.S. dollar in recent weeks, the persistence of the range suggests selling pressure on the loonie may be exhausting. Market Context and Key Levels The Canadian dollar has faced headwinds from a stronger U.S. dollar, driven by diverging monetary policy expectations between the Federal Reserve and the Bank of Canada. However, Scotiabank’s technical analysis points to key support and resistance levels that, if broken, could confirm a reversal. The upper boundary of the current range is seen as a critical resistance zone; a sustained move above it would invalidate the reversal signal. Conversely, a break below the lower end could accelerate losses for the Canadian dollar. Implications for Traders and Investors For currency traders and investors with exposure to Canadian assets, the Scotiabank analysis serves as a cautionary note. A reversal in the USDCAD pair would have implications for export competitiveness, import costs, and cross-border investment flows. The analysis underscores the importance of monitoring technical levels in the coming sessions, as a confirmed breakout could lead to sharper moves. The broader macroeconomic backdrop, including oil prices and Canadian economic data, will also play a decisive role in determining the loonie’s next direction. Conclusion Scotiabank’s assessment that the Canadian dollar’s range-bound trading could signal a reversal against the U.S. dollar provides a technically grounded perspective for market participants. While the current trend favors the greenback, the narrowing range suggests a potential shift in momentum. Traders should watch for a clear break of established support or resistance levels to confirm the next major move. FAQs Q1: What does a range-bound signal mean in forex trading? A range-bound signal occurs when a currency pair trades within a defined price band without breaking out. It often indicates market indecision and can precede a significant directional move once the range is broken. Q2: Why is Scotiabank’s analysis important for the Canadian dollar? Scotiabank is a major Canadian financial institution with a dedicated FX research team. Their technical analysis is widely followed by institutional and retail traders for insights into potential currency movements. Q3: What factors could confirm a reversal in USDCAD? A reversal would be confirmed by a decisive break above key resistance or below key support levels, accompanied by increased trading volume. Fundamental factors such as changes in interest rate differentials, oil price shifts, or economic data surprises would also play a role. This post Canadian Dollar Range Signals Possible Reversal Against US Dollar, Scotiabank Says first appeared on BitcoinWorld .

26 May 2026, 15:46

Small firms buy 602 BTC as price drops below $80,000

🚨 Small companies snapped up 602 BTC as prices dipped below $80,000. Asset managers like Strive and other firms in $BTC used the decline as a buying opportunity. 🧐 Key point: Major investors paused but small treasury companies are driving new acquisitions. Continue Reading: Small firms buy 602 BTC as price drops below $80,000 The post Small firms buy 602 BTC as price drops below $80,000 appeared first on COINTURK NEWS .

26 May 2026, 15:45

TeraWulf Stock Rises 13% After Kentucky AI Data Center Announcement

BitcoinWorld TeraWulf Stock Rises 13% After Kentucky AI Data Center Announcement TeraWulf Inc., a publicly traded Bitcoin mining company, saw its share price climb more than 13% on Tuesday after announcing plans to develop a large-scale artificial intelligence and high-performance computing data center in Kentucky. The stock reached $25.84 in midday trading, reflecting strong investor interest in the company’s pivot toward AI infrastructure. Project Details and Timeline According to a company statement reported by CoinDesk, the planned facility will have a maximum capacity of one gigawatt (GW), positioning it among the larger data center projects in the United States. TeraWulf aims to launch the first phase with 500 megawatts (MW) of capacity by 2028, with subsequent expansion phases continuing through 2030. The site selection in Kentucky leverages the state’s existing energy infrastructure and relatively low electricity costs, which have made it an attractive location for both cryptocurrency mining and data center operations. Strategic Shift for Bitcoin Miners TeraWulf’s announcement reflects a broader trend among Bitcoin mining companies diversifying into AI and HPC services. As the cryptocurrency market experiences volatility, miners with access to large amounts of power and existing data center expertise are increasingly repurposing capacity for AI workloads. This shift allows companies to generate more predictable revenue streams from enterprise clients while maintaining their core mining operations. TeraWulf’s move follows similar announcements from competitors such as Core Scientific and Hut 8, which have also secured AI hosting contracts. Market and Industry Implications The Kentucky project represents a significant capital investment and could create hundreds of construction and operational jobs in the region. For investors, the announcement signals that TeraWulf is positioning itself to capture demand from the growing AI sector, which requires massive computing power for training and inference. However, the company faces execution risks, including securing financing, obtaining regulatory approvals, and managing construction timelines. The 2028 target for initial capacity suggests a multi-year development process that will require sustained investor confidence. Conclusion TeraWulf’s 13% stock jump underscores market enthusiasm for the convergence of cryptocurrency mining and AI infrastructure. While the Kentucky data center plan is still in its early stages, it represents a strategic bet on the long-term demand for high-performance computing. Investors and industry observers will watch for further details on financing, partnerships, and construction milestones as the project moves forward. FAQs Q1: Why is TeraWulf building an AI data center instead of focusing solely on Bitcoin mining? A1: Bitcoin mining companies like TeraWulf are diversifying into AI and HPC to generate more stable revenue from enterprise clients, reducing reliance on volatile cryptocurrency prices while leveraging their existing power and infrastructure expertise. Q2: How large is the planned Kentucky data center? A2: The facility is designed for a maximum capacity of one gigawatt. The first phase targets 500 MW by 2028, with further expansion through 2030. Q3: What does this mean for TeraWulf’s stock price? A3: The stock rose 13% to $25.84 on the announcement, reflecting investor optimism about the company’s growth prospects in the AI sector. However, long-term performance will depend on successful execution and market conditions. This post TeraWulf Stock Rises 13% After Kentucky AI Data Center Announcement first appeared on BitcoinWorld .

26 May 2026, 15:35

Analysts Flag $79K Resistance After $766M Bitcoin Liquidation Wipes May Gains

Bitcoin fell nearly 10% from its early-May high before reclaiming its monthly open, but Bitfinex analysts say the recovery has so far run out of steam near the weekly open. Long BTC Traders Sit Underwater as Bitfinex Report Points to $79K Breakeven Wall According to Bitfinex’s latest report, the May 23 deleveraging event this weekend

26 May 2026, 15:34

XRPL could close its biggest DeFi gap if new AMM amendment passes

A draft proposal filed Tuesday would extend the XRP Ledger's native automated market maker with three swappable curve types, giving liquidity providers more efficient ways to deploy capital and closing one of XRPL DeFi's longest-standing gaps.