Crypto News

ETHTrustFund DAO allegedly stole $2M and laundered funds via mixer apps. Developer Peng went silent months before the rug pull and deleted all accounts. Besides ETHTrustFund, other recent rug pulls in crypto include Gemholic and Ordiz, showing rising fraud risk. In a troubling development for cryptocurrency investors, the ETHTrustFund DAO, a decentralized autonomous organization (DAO) operating on the Base network, has been accused of conducting a $2 million rug pull. The allegations, substantiated by recent reports by 0ctoshi , suggest that the project executed a deliberate exit scam. According to a detailed report by blockchain security firm PeckShield, ETHTrustFund transferred its entire treasury to a new wallet on July 20, 2024. The funds were subsequently moved through mixer applications, such as Tornado Cash and Railgun, in an apparent attempt to obfuscate the trail and launder the stolen assets. #PeckShieldAlert #rugpull @0ctoshi reported that @ethtrustfund_ rugged...

Swan Bitcoin delays IPO plans due to shutdown of its mining operations. CEO cites reduced revenue from mining as reason for halting IPO efforts. Mining sector faces challenges, with firms like Bitfarms and Northern Data adapting. Swan Bitcoin, a financial services firm specializing in Bitcoin investments, has announced a significant strategic shift. Cory Klippsten, the company’s CEO, revealed that Swan Bitcoin will be scrapping its initial public offering (IPO) plans and shutting down its mining operations. The announcement , made on July 22 via X (formerly known as Twitter), comes as the company grapples with the financial fallout from recent developments in the cryptocurrency mining sector. Halting IPO plans pegged on cessation of Bitcoin mining activities According to Klippsten, the cessation of Swan Bitcoin’s mining activities is a pivotal factor behind the decision to delay the IPO indefinitely. He stated, “Without revenue from our mining arm, we expect to halt our plans f...

Cboe is planning on listing five ether exchange-traded funds (ETFs) on July 23 It will begin trading spot ETFs from the 21Shares Core Ethereum ETF, Fidelity Ethereum Fund, Franklin Ethereum ETF, Invesco Galaxy Ethereum ETF, and VanEck Ethereum ETF Bitwise’s CIO Matt Hougan believes Ethereum ETFs could see around $15bn in net flows in their first 18 months on the market The Chicago Board Options Exchange (Cboe) intends to list five ether exchange-traded funds (ETFs) on July 23, “pending regulatory effectiveness,” Cboe announced. The five spot ether ETFs expected to begin trading are the 21Shares Core Ethereum ETF, Fidelity Ethereum Fund, Franklin Ethereum ETF, Invesco Galaxy Ethereum ETF, and VanEck Ethereum ETF. In May, the US Securities and Exchange Commission (SEC) approved rule changes to spot ether 19b-4 filings; however, before they can launch, their S-1 registrations need to be approved by the regulator. Earlier this month, the SEC required asset managers to submit th...

Avalanche (AVAX) hovered above $30 after breaking out from lows of $26 last week. Despite overall dip in crypto amid latest US politics news, AVAX looked poised for more gains. The price of Avalanche (AVAX) continues to hover above $30 as the altcoin holds onto gains despite a broader crypto market dip in the past 24 hours. On Monday, AVAX price traded around $31.93 at 10.30 am CET. The price remained double-digits up in 24 hours with bulls looking to hold above the key threshold following the spike from $26.73 on July 19. Crypto dips amid US politics news On Sunday, US President Joe Biden announced his exit from the 2024 US election presidential race, endorsing his VP Kamala Harris. The immediate market reaction following the news was a slight dip in crypto prices as some panic hit. Bitcoin, which had traded above $68k on the day, dropped to below $67,500 and Ethereum, Solana and other top altcoins pared gains. Crypto market intelligence platform Santiment noted that the pat...

The withdrawal of Joe Biden has caused some market volatility with $113M worth of traded liquidated. Investors are flocking to Poodlana (POODL) presale, which has so far raised over $1.92M. Poodlana (POODL) plans DEX listing within 60 minutes of exchange listing. The unexpected withdrawal of US President Joe Biden from the 2024 presidential race has led to a significant crypto market volatility. Within 30 minutes of the announcement, $67 million in leveraged long positions were liquidated. However, amidst this chaos, Poodlana , a new entrant in the meme coin market, has captured investor attention with its high-fashion branding and successful presale, raising nearly $2 million. Market chaos following Joe Biden’s withdrawal Joe Biden’s sudden exit from the 2024 presidential race sent shockwaves through the cryptocurrency market. Between 5:30 pm and 6:00 pm UTC on July 21, the market saw $67 million worth of leveraged long positions liquidated, triggered by a 2.3% drop in Bitcoi...

Ryan Selkis is stepping down as CEO of crypto platform Messari. Eric Turner, the company’s chief revenue officer, replaces him as interim CEO. Ryan Selkis is stepping down from his role as CEO of crypto platform Messari, the firm announced on Friday. Selkis, whose exit as CEO will see him take up a senior advisor role, is taking this step after a week that saw him face post a series of controversial political tweets. “A leader’s first responsibility is to his team. This week was the first week in 6.5 years that my politics and rhetoric put the team in harms way,” he wrote . “As such, I have decided to step aside as CEO.” Selkis’ political tweets Selkis has increasingly been vocal in his support for former President Donald Trump’s candidacy in the upcoming US election. Having castigated President Joe Biden severally on X, Selkis became particularly ill-tempered after last week’s attempted assassination of Trump during a campaign rally. In one tweet, he noted that anyone lookin...

Solana (SOL) breakout above $160 could ignite rally to new year-to-date highs. Poodlana (POODL) has hit $1.4 million in presale, just 48 hours after launch. Catalysts such as SOL price gains, Asia’s love for Poodlana and meme coins surge make POODL attractive in presale. Solana (SOL) is trading above $160 as bulls look to strengthen. Meanwhile, viral meme coin Poodlana (POODL) has ignited a major frenzy as its presale smashes past the $1.4 million mark within 48 hours of launch. SOL has analysts eyeing recent highs amid positive sentiment, likely driven by further gains for BTC and ETH.  Solana’s price is among the top gainers in the past 24 hours on CoinMarketCap at the time of writing, springing more than 2.4% as trading volume surpasses $2.7 billion. Solana targets new momentum above $160 The price of Solana has returned to levels seen when the cryptocurrency benefited from upside sentiment from spot SOL exchange-traded funds (ETFs) applications. VanEck and 21Shares fi...