Digital Crypto

(LTC) is currently caught in a downward trend that could lead to a sharp price drop. Recent market data indicates that LTC, which has seen strong trading activity in recent months, may be on the verge of a 25% decline due to increased selling pressure. While many digital assets are witnessing a price recovery, Litecoin’s future seems uncertain, prompting traders to brace for what could be a turbulent time ahead.

Currently, LTC is trading at approximately $127, having already seen a decline of over 6% within the past 24 hours. The overall market sentiment around Litecoin appears bearish, with analysts pointing to crucial price levels and technical indicators suggesting that LTC could soon test lower support zones.
Why Could Litecoin Experience a 25% Drop?
The primary concern among analysts is the formation of negative price action around the $141 mark, where Litecoin has faced substantial selling pressure. LTC has been fluctuating within a specific price range, trading between $95 and $141 since November 2024. However, as the price has struggled to push past the $141 resistance level, traders are beginning to speculate that Litecoin may drop significantly if it fails to break through.
Experts believe that if Litecoin’s price does not manage to surpass the $141 barrier, the cryptocurrency could experience a 25% price drop, possibly bringing it down to the $95 support level. This price action, if it occurs, would represent a critical test for LTC holders and could fuel a large sell-off among short-term traders.
Technical Analysis: Bearish Outlook for LTC
Technical analysis of Litecoin paints a somewhat grim picture for the immediate future. LTC’s current price of $127 is still above the 200 Exponential Moving Average (EMA) on the daily chart, which traditionally signals an upward trend. Despite this, the recent bearish momentum, combined with selling pressure at key resistance levels, suggests that Litecoin may struggle to maintain its current position.
In the past few days, LTC has experienced a sharp decline in trading volume, down by 23%. This drop in volume indicates that fewer traders are engaging with the market, which often signals waning confidence and increased uncertainty. When coupled with the fact that Litecoin has been unable to break the $141 level, the outlook for the coin remains bearish in the short term.
Traders Show Mixed Sentiment: Short Positions Rise
One of the key indicators of market sentiment is the behavior of traders, and the latest data paints a picture of division among market participants. On-chain analytics firm Coinglass has reported that traders are increasingly betting against Litecoin’s price, with a substantial number of short positions being built around the $141 mark. In fact, over $67 million worth of short positions have been opened in the past week alone, indicating that traders are expecting further price declines.
At the same time, the data reveals that long positions are significantly smaller, with just $21 million worth of long positions accumulated by traders who believe in Litecoin’s potential to bounce back. This imbalance between short and long traders underscores the prevailing uncertainty and suggests that any further movement beyond the $141 resistance level could trigger a wave of liquidations.
Litecoin Accumulation: Long-Term Holders Remain Bullish
Despite the bearish sentiment among short-term traders, long-term holders seem to be taking advantage of the price drop. According to on-chain data, there has been a notable accumulation of Litecoin by investors who are looking to hold the asset for the long haul. In the past 24 hours, exchanges saw an outflow of over $9.4 million worth of LTC tokens, suggesting that investors are moving their holdings off exchanges in preparation for future gains.
This pattern of accumulation is often seen as a sign of confidence in the long-term prospects of a cryptocurrency, even during periods of market volatility. While short-term traders may be focused on the immediate price movement, long-term holders appear to view Litecoin’s current price as an opportunity to purchase the asset at a discount, positioning themselves for potential gains when market conditions improve.
The Bigger Picture: Market Uncertainty and Litecoin’s Future
The ongoing uncertainty in the broader cryptocurrency market adds another layer of complexity to Litecoin’s price outlook. While many digital assets are beginning to recover from recent losses, LTC’s struggles highlight the challenges that certain cryptocurrencies are facing in the current economic climate. Factors such as investor sentiment, technical resistance levels, and broader market trends will all play a role in determining whether Litecoin can regain its momentum or if it will continue to face downward pressure.
For now, traders and investors are closely watching Litecoin’s price action, particularly around the $141 resistance level. A failure to break through this key level could trigger further sell-offs, potentially pushing the price down by 25%. On the other hand, if LTC manages to rally past this resistance, it could pave the way for a price rebound, encouraging more buying activity and restoring confidence in the asset.
Conclusion: Litecoin’s Path Forward
As Litecoin navigates through turbulent market conditions, the next few days could prove pivotal for its future price direction. Short-term traders are betting against the coin, while long-term holders are accumulating it, signaling a mixed sentiment in the market. With a potential 25% price drop looming, traders are preparing for a sell-off, but the growing accumulation from long-term investors suggests that Litecoin’s long-term prospects may still hold value.
For now, the cryptocurrency community remains on edge as it waits to see whether Litecoin can overcome its resistance or if it will succumb to the market’s bearish pressures. One thing is certain: the next moves in LTC’s price action could set the tone for the broader market’s sentiment in the months to come.
#LitecoinETF
$LTC

The survey found that investors entered the cryptocurrency space looking for significant returns and financial freedom.

Nearly all surveyed cryptocurrency users in Latin America intend to increase their crypto holdings next year, according to a recent Binance Research survey.
The region saw a 116% surge in crypto adoption in 2024, reaching 55 million users.
A vast majority of Latin American cryptocurrency users—95%—plan to expand their holdings in 2025, according to a Binance Research survey of more than 10,000 investors in Argentina, Brazil, Colombia, and Mexico.
The findings show that 40.1% of respondents are expecting to buy more crypto within the next three months, 15.3% are looking to do so in the next six months, and 39.7% within 12 months. Only 4.9% have no plans to keep on investing this year.
Latin America led the world in crypto adoption in 2024, growing by 116%, according to research from payments firm Triple-A quoted in the report. The region now has 55 million cryptocurrency users, making up nearly 10% of total cryptocurrency users.
This rapid expansion has been fueled by rising asset prices, regulatory advancements, and new financial products like spot bitcoin exchange-traded funds (ETFs). Brazil has just last week become the first country to approve a spot XRP ETF.
Market performance has also bolstered investor confidence. "Latin America is a rapidly expanding region for the crypto sector, and the results of this research reinforce what we have observed in our operations,” Binance’s regional VP for Latin America, Guilherme Nazar, said.
Binance’s research shows that half of those inquired already use cryptocurrencies for over a year, with most entering the space expecting significant returns and searching for financial freedom.
Portfolio diversification, privacy, and protecting their money were also quoted as motives to invest in the space.
#BinanceAirdropAlert
$BNB

Dubai-based cryptocurrency exchange Bybit has found itself at the centre of a financial storm. Hackers made off with nearly $1.5 billion worth of Ethereum (ETH) from the platform’s cold wallet, triggering a mass panic among users. The fallout was immediate: over $4 billion in additional withdrawals followed, bringing the total outflow to a jaw-dropping $5.5 billion.

Blockchain analysts quickly pointed fingers at the North Korean hacking syndicate, Lazarus Group, notorious for targeting digital asset platforms. CEO Ben Zhou took to social media and a live X Spaces session to address the crisis, reassuring users: “Bybit is solvent even if this hack loss is not recovered. All client assets are 1:1 backed, and we can cover the loss.”

The Race to Secure Withdrawals
The security breach prompted a swift reaction from Bybit’s internal teams. Zhou recounted his immediate call for “all hands on deck” to facilitate withdrawals and manage user concerns.

A major complication arose when Safe—a decentralised custody protocol—temporarily shut down its smart wallet functionalities to investigate potential vulnerabilities. Safe’s move left Bybit unable to access $3 billion in USDT reserves stored in its cold wallets. “We had to develop new software, manually verify signatures, and work through the night to process withdrawals,” Zhou revealed.
Despite these challenges, Bybit managed to stabilise its operations, successfully withdrawing the $3 billion locked in Safe wallets and moving funds to alternative storage solutions. Zhou confirmed that “about 50% of all exchange funds” had been withdrawn during the crisis.
North Korea’s Alleged Involvement
Blockchain investigator ZachXBT and crypto intelligence firm Arkham traced the stolen funds, finding patterns similar to previous Lazarus Group exploits. The notorious hacking collective, believed to operate under North Korea’s directive, has been responsible for multiple high-profile crypto thefts, allegedly using stolen assets to fund Pyongyang’s nuclear programme.
Arkham awarded ZachXBT a $50,000 bounty for his investigative work, which suggested that, if the Lazarus Group’s involvement is confirmed, North Korea could now be among the largest holders of Ethereum—surpassing even Ethereum’s co-founder Vitalik Buterin.
Calls to ‘Roll Back’ Ethereum
As the scale of the hack became clear, some within the crypto community floated a controversial idea: reversing the Ethereum blockchain to recover stolen funds. Even BitMEX co-founder Arthur Hayes suggested this possibility. Zhou admitted that Bybit had “engaged Vitalik [Buterin] and the Ethereum Foundation” to explore options. However, he acknowledged that rolling back Ethereum was unlikely due to the decentralised nature of the blockchain. “It’s not a one-man decision. It should be up to the community,” he said.
Experts were quick to highlight the immense technical and ethical challenges such a rollback would pose. Any attempt to alter Ethereum’s state retroactively would almost certainly result in a contentious hard fork, splitting the network and undermining trust in blockchain immutability.
Regulatory Scrutiny and Industry Fallout
The scale of Bybit’s hack is expected to attract significant regulatory scrutiny. In recent months, Bybit has already been navigating complex legal landscapes. In India, it faced penalties and suspension from the Financial Intelligence Unit for non-compliance with anti-money laundering regulations. Meanwhile, in France, the exchange was recently removed from the financial regulator’s blacklist after two years of engagement.
The breach also sent ripples through the cryptocurrency market. Ethereum’s price dropped nearly 4% in the immediate aftermath, reflecting investor anxiety over security vulnerabilities in the industry. The incident serves as a stark reminder that even well-established exchanges remain prime targets for increasingly sophisticated cybercriminals.
A Masterclass in Crisis Management?
While the breach was a disaster, Bybit’s crisis response earned praise from some industry observers. Casey Taylor commented on X: “Bybit just delivered a masterclass in crisis communications after experiencing the largest hack in crypto history.”
Bybit’s transparency, swift communication, and ability to process withdrawals helped contain panic. The company quickly secured a bridge loan to cover the loss and assured users that operations would continue without disruption. Unlike past exchange hacks that led to financial collapses, Bybit’s proactive approach demonstrated resilience.
What’s Next for Bybit and Crypto Security?
The Bybit hack underscores the evolving threats facing cryptocurrency exchanges. It raises urgent questions: How can platforms enhance security? Should decentralised wallets rethink their smart contract protocols? How should regulators respond to prevent such breaches in the future?
For now, Bybit remains operational, with its CEO vowing to implement stronger security measures and explore alternative custody solutions. However, the attack is a stark warning: even the biggest players in crypto are not immune. As the industry pushes forward, the need for robust security, regulatory compliance, and crisis preparedness has never been greater
#BybitSecurityBreach
$BTC

The anticipation surrounding the Pi Network’s mainnet launch is palpable. Today millions of users, who have diligently “mined” Pi Coin through their smartphones, will finally get their hands on the actual coins.
The excitement for the launch on Feb 20, 2025, UTC 8:00 am is immensely high. But there is one question that creates doubt for the future of the Pi ecosystem. Will Pi coin crash after the mainnet launch?
Contents
This question is something no pioneer wants to hear, but you should not ignore it at all costs. So let’s look at the 3 key reasons that could start such a dreadful scenario.
1. Early miners profit taking

Pi Coin’s oldest friend can turn its latest foe. Early adopters have patiently spent a lot of time to amass a lot of PI coins. These miners have waited for over 5 years, and this will be their very first chance to get an exit. 
The first ones to start a Pi coin sell-off could be the early Pi coin miners. For them, selling a portion of their tokens could be a strategic move to lock in profits, especially if they believe the initial market price will rise due to hype and speculation.
2. Sad history of Airdrops

History has shown us that every cryptocurrency project launched via an airdrop begins to crash. When tokens or coins are given for free, most of the users rush to sell them as soon as trading begins.
Why will Pi coin be any different? Once the crypto exchanges opens trading, many users will attempt to sell the coin to get a quick payout.
3. Lack of Real-World Utility

Let’s face it, the Pi network lacks real-world utility. Beyond the P2P transactions, no other use case has been properly explored. Yes, there are dapps being built on the apps, but only the number is low, and most users are unaware of them.
If the Pi Network ecosystem doesn’t develop a robust network of decentralized applications (dApps) and partnerships that drive demand for the Pi coin, a crash is inevitable in the near future.
While every project has its pros and cons, its real value can be measured only after it goes live in the market. Only that can give the answer that the project failed or prevailed. Do your due diligence in crypto before investing or interacting.
#PiNetworkMainnet
#PiNetworkkyc
$BTC

The current hot topic in the crypto ecosystem is the PI network and its native token, PI coin. With only hours left for the mainnet launch, the hype is understandable. However, one question looms large: why hasn’t Binance, the world’s largest exchange, listed Pi Coin?
The answer is plain and simple: Pi coin has not completed the required conditions set by Binance to list a coin. Users will have top wait to trade Pi coin on the exchange.
Will Binance list Pi coin in the future?
There has been no official announcement of the Pi coin listing on Binance, but the exchange has not neglected the idea. 
The hype of Pi network and Pi coin is so much that Binance did a community vote, asking users to reply whether the exchange should list Pi coin or not through their official square ID.
This indicates that the project may be in talks with the exchange for a listing as soon as possible. However, Binance has clearly stated that voting results won’t result in a Pi coin listing, that would happen only if their token parameters are matched.
As of now, all eyes are on the Pi mainnet launch scheduled for February 20, UTC 08:00 AM.
#Vote-PIOnBinanceYesOrNo
$BTC

from Pi Network: A crucial development has emerged concerning the highly-anticipated Pi Coin. Top crypto exchange, Binance has finally launched a community vote to determine whether Pi Coin, the native token of Pi Network, should be listed on the exchange. The voting window, which opened on February 17, 2025, at 14:45 UTC, will run until February 27, 2025, at 23:59 UTC—and the response has been nothing short of overwhelming.
Pi Network’s Rising Star
Pi Coin has captured the imagination of millions with its unique approach to mobile mining, allowing everyday users to participate in the crypto revolution without expensive hardware. With a staggering 100 million users, Pi Network is no small player, and its potential Binance listing could be a game-changer.
At the time of writing, 86% of voters support Pi Coin’s listing, with just 14% in opposition. Over 2 million votes have already been cast, accompanied by a flood of 7,000 comments and 4,700 shares on Binance Square Official.
However, voting eligibility comes with strict conditions—only Binance-verified users with a minimum balance of $5 in their exchange wallets can participate, and votes from certain restricted regions, including China, are not counted.
Will Binance Give Pi Coin the Green Light?
Despite the overwhelming community support, Binance has made it clear: the vote is for reference only. The final decision remains in the hands of Binance’s internal review team. Daily voting updates are being shared, but only after rigorous scrutiny to filter out any fraudulent votes.
If Pi Coin secures a Binance listing, it will join the ranks of top-tier cryptocurrencies, gaining liquidity, exposure, and credibility. However, history reminds us that exchange listings don’t always guarantee success. Tokens like PENGU and BLAST saw significant initial hype but struggled to sustain their value. Hyperliquid, on the other hand, managed to defy the odds and maintain its price levels post-launch.
What’s Pi Coin’s True Market Value?
Speculation is running wild about Pi Coin’s potential price range once it enters full circulation. Recent IOU price movements suggest that traders see a strong accumulation zone between $50 and $60, with price spikes reaching as high as $75. This hints at a possible price floor, but as seen in past projects, early valuations can be volatile.
Following its OKX exchange listing, Pi Coin surged from $50 to $70, sparking speculation about an eventual Binance debut. Exchanges such as Bitget and MEXC have also already embraced Pi Coin, increasing its exposure to global traders.
The Bitcoin Comparison: Hype or Real Threat?
With Pi Network’s Open Mainnet launch scheduled for February 20, 2025, the big question remains—can Pi Coin emerge as a serious Bitcoin contender? While Bitcoin remains the undisputed leader of the crypto world, Pi Coin’s mobile mining model and massive user base present an interesting alternative.
However, skeptics argue that Pi’s framework leans more toward a barter-based economy than a pure trading asset, making it fundamentally different from Bitcoin. The real test will come once Pi transitions to a fully tradeable token, facing the full force of market speculation, liquidity demands, and institutional scrutiny.
Final Countdown: What’s Next for Pi Coin?
The next 10 days will be critical in shaping Pi Coin’s future. If Binance approves the listing, Pi Coin could experience a major price surge and mainstream adoption. However, if Binance passes, Pi may have to rely on smaller exchanges to build its credibility before securing a major listing in the future.
#Vote-PIOnBinanceYesOrNo
#FTXrepayment
#BinanceAlphaAlert
$BTC

Pi Network will possibly shift to an Open Mainnet on February 20, 2025, which could result in Binance and OKX listings. Pi Coin's price has doubled, approaching $100, with analysts expecting a breakout. If Pi Coin gets a suc launch, exchange listings, and regulatory approval, a $500 price target is still feasible.
Pi Network is all set to transition from a closed ecosystem to a decentralised network in the Open Mainnet launch on
February 20, 2025. Although Pi Network has not issued an official statement regarding
the Open Mainnet launch, the
decentralisation may signal
changing moment for Pi Coin as it can potentially open the door for mainstream exchange listings, such as being incorporated into Binance, Bybit, and OKx.
Recent market trends indicate a robuct bullish attitude towards Pi Coin, with
value increasing two-fold in recent Weens as it nears the psychological resistance point of
$100 A breakout is anticipated as analysts highlight a technical structure of a historical trend of consolidation within a descending wedge formation. If the Pi Coin can go past this ceiling with a huge trading volume, it
#Vote-PIOnBinanceYesOrNo
$PEPE

Pi Network marks a major milestone by transitioning to an open network, inviting its 60 million engaged users to explore expanded cryptocurrency opportunities.

announces Open Network will launch on February 20, 2025, making it easier for anyone to get involved in the world of crypto
With a 60+ million-strong community, including over 19 million KYC’d users, Pi Network is set to revolutionize the crypto sector with the launch of its next phase, the Open Network. Today they announce that this much-anticipated launch will occur at 8:00 am UTC on February 20, 2025.
Open Network will bring significant change – external connectivity – to the Layer-1 blockchain that has already been live in its Enclosed Network period since December 2021. The network, along with its fully-developed functionalities, ecosystem components, utility-based applications, and the massive crypto-enabled social network will enter a new era where Pi can, for the first time, connect securely with external systems and expand opportunities for Pi Network Pioneers and businesses alike.
Dr. Nicolas Kokkalis, one of two Pi Network Founders, and Head of Technology, explains that the Open Network phase will allow for greater utility within the network: “Pi is the world’s first crypto that users can mine for free on mobile phones which has helped, and will continue to help, bring crypto to the hands of millions of people around the world through accessibility.”
“The Pi blockchain allows people to conduct business with identity verified individuals and businesses. This feature is unheard of for a Layer-1 blockchain, and opens completely new horizons for blockchain-based utility. Third party apps and services built on Pi can interact directly with KYC verified people, and people can interact with KYB verified businesses and crypto services,” added Kokkalis, a Stanford University Ph.D. focusing on combining distributed systems and human-computer interaction to bring cryptocurrency to everyday people.
Dr. Chengdiao Fan, Pi’s other Founder and Head of Product, added that “Open Network is the culmination of our endeavors to build and launch a fully developed and inclusive worldwide peer-to-peer ecosystem and online experience, fueled by Pi, with the focus of it to becoming the most widely used cryptocurrency.”
Pi’s Open Network allows for external connectivity on the Pi Mainnet, which permits the Pi token to interface with other compliant networks and systems. The external connectivity also enables the community and the decentralized world to use new types of utilities, and bridge Pi with real-world businesses and their fiat-based operations.
In a connected world, users can continue to use Pi as a universally understood and accepted medium of exchange, simplifying payments and expanding opportunities across the Pi ecosystem.
Pi has already seen widespread adoption as a medium of exchange, well before Open Network. PiFest 2024—a one week event connecting local Pi-powered businesses with Pioneers—attracted over 27,000 active sellers and 28,000 test merchants across 160 countries, and the participation of over 950,000 Pioneers within just a few days. The event showcased Pi’s complete ecosystem for local commerce integration, connecting store discovery through Map of Pi, payments via Pi Wallet, transactions on Pi Mainnet blockchain, and social sharing on Fireside Forum – all seamlessly working across different existing Pi applications.
Over six-years of development, including the three-year Enclosed Network period of Mainnet that began in December 2021, Pi Network bootstrapped, grew and prepared for the Open Network era. Specifically, the Enclosed Network allowed Pioneers to complete KYC and migrate their Pi balances to Mainnet, and developers to build apps and utilities for the Pi ecosystem. All the while, the network grew to have over 200,000 nodes run by decentralized community members all around the world, the Core Team built and improved various Pi features and utilities, and Pi developers launched more than 100 Mainnet or Mainnet-ready apps on Pi Network’s Web3 developer platform. Apps in the Pi ecosystem can be accessed and used through the Pi Browser, allowing Pioneers to transact for real goods and services in Pi. Some of these apps are also included in the Ecosystem Interface, which showcases Testnet and Mainnet Pi Apps built by the community.
With Open Network in place, Pioneers will continue to have the ability to mine with rate adjustments in line with the declining exponential issuance model and monthly limits as stated in the Whitepaper. They will also continue to have the ability to use the fully developed network utility, which enables them to engage with Pi Apps, and transact with actual Pi, boosting the ecosystem’s real-world utility.
“As Pi Network enters the Open Network phase, we invite Pioneers, developers, and businesses to explore the collaborative ecosystem which has benefited from their active participation and leadership in driving innovation and building a sustainable decentralized world together,” said Fan.
ABOUT PI NETWORK
Pi Network is a community of tens of millions of humans mining Pi cryptocurrency to use and build the Web app ecosystem. Founded in by a team of early innovators in blockchain and social computing, with PhDs from Stanford University, Pi Network is a utilities-based ecosystem for third-party apps on a mobile web platform, with widespread (rather than concentrated) token distribution. The blockchain platform offers a mobile-first mining approach, with low financial cost and a light environmental footprint within the crypto space.
#Pi
$BTC

As the cryptocurrency and developer platform Pi Network comes up with a final launch date for Mainnet, which will enable users to mine PI coins, the PI coin price has zoomed 70% amid the development. The launch date comes following multiple delays by the company.
The boost in PI-coin price was also attributed to OKX's announcement of the listing of PI (Pi Network) on its spot trading markets. The PI coin has seen a rise from $50 to $90 within just a few hours of the announcement today, only to settle around $80.91 around 3.45 PM (India Time).
"Pioneers, Open Network will launch at 8 am UTC on February 20, 2025! With millions of KYC-verified Pioneers and a thriving utilities-driven ecosystem, Open Network expands available opportunities, which allows Pioneers to connect Pi with external systems for use in real-world applications like never before," says a statement by Pi Network today.
Pi Network says the company has reached 10.14 million Mainnet migrations, exceeding the original 10 million goal, due to upgrades announced in the last timeline update. "Pi is ready to open its utilities-driven ecosystem where our now over 19 million identity-verified Pioneers can use Pi—a cryptocurrency with real-world functions and applications backing it."
Pi Network’s current Mainnet Phase 3 began in December 2021, with the launch of the Enclosed Network period, which meant Mainnet was live but with a firewall that prevents any external connectivity. This period set the stage for an Open Network, allowing time for: Pioneers to complete KYC and obtain Pi on Mainnet; Developers to build real apps and utilities for the Pi ecosystem; and The Core Team to release and improve various Pi features and utilities.
A new mining rewards issuance formula was also released in March 2022 early on in the Enclosed Network, following a declining exponential model that balances the network’s need for growth, accessibility, longevity, and scarcity while right-sizing the Pioneers’ rewards for contribution to the network.
The Grace Period was enacted on July 1st, 2024—accelerating progress towards Open Network—to strike a balance between providing Pioneers adequate time to pass KYC and be eligible to obtain Pi on Mainnet, while creating enough incentive and urgency for people to pass KYC and migrate to Open Network. In preventing unverified Pi beyond the rolling 6-month KYC period from obtaining Pi on Mainnet, this strategy helps Pi get freed up for mining by other Pioneers.
All the while, Pioneers who obtained Pi on Mainnet were able to transact Pi with other Pioneers within the network.
Launch of an Open Network to allow external connectivity
The Open Network will create an environment where Pi can connect securely with external systems, expanding opportunities for Pioneers and businesses. The transition to Open Network will enable external connectivity on the Mainnet blockchain, allowing Pi to interface with other compliant networks and systems. This means Pioneers will be able to engage in transactions beyond the Pi ecosystem, expanding Pi’s utility and reach.
Upon Open Network launch with the firewall removed, anyone can technically add nodes to the Mainnet blockchain, in terms of running the protocol and connecting to the network. The Core Team will gradually invite Pioneers to transition their nodes from Testnet to Mainnet via the desktop node UI, prioritising those with strong historical contributions and reliability scores. Node rank data will be made public as soon as possible, says the company.
To maintain a safe and compliant ecosystem, participation in Mainnet blockchain activities will require KYC (Know Your Customer) verification for Pioneers, and KYB (Know Your Business) verification for businesses. The Open Network date was chosen based on the Open Network Conditions set and shared with the whole community in December 2023.
#Pioneers👫great #PiCoreTeam
$BTC

Animecoin Launches in 2025, Combining Anime Culture with Blockchain Technology Animecoin (ANIME), a new cryptocurrency project inspired by anime and manga, has officially launched.
Designed as a "culture coin," ANIME aims to connect anime fans globally while providing opportunities for creators through a blockchain-based ecosystem.
The project is closely linked to the Azuki NFT collection, a well-known name in the NFT space since 2022.
ANIME functions as the ecosystem's utility and governance token, allowing holders to vote on decisions and updates. It also serves as the gas token for Animechain, an Arbitrum Orbit Layer-3 blockchain, and is used for transactions on Anime.com.
Built on Ethereum and the Arbitrum network, ANIME has a fixed supply of 10 billion tokens, with 6.8 billion already in circulation. Tokenomics prioritize sustainable growth, with gradual token release and potential token-burning mechanisms to maintain value.
The project takes inspiration from the Azuki NFT collection, which has gained attention for its unique designs and community-focused approach. Azuki’s emphasis on exclusivity through events and merchandise played a key role in shaping the Animecoin ecosystem.
Animecoin offers features like access to official merchandise, early anime episode releases, behind-the-scenes content, and creator interactions. Its decentralized governance model fosters fan participation in decisions related to partnerships, platform developments, and NFT initiatives.

The Anime.com platform acts as a social hub for the anime industry, featuring customizable avatars, digital collectibles, and tools for community engagement.
The Animecoin ecosystem integrates Azuki intellectual property, which includes Azuki, Elementals, and Beanz NFT collections, with plans for further development.
As of January 2025, Anime.com has a waitlist of 3.3 million users and has minted over 13 million NFTs. The Animee feature, offering personalized anime avatars, has gained popularity and is available on both desktop and mobile.
The project’s roadmap for 2025 includes the launch of Animechain’s mainnet, Anime.com, token listings, and collaborations with notable names like Dentsu, AniplexUSA, and Hallway AI.
These partnerships aim to enhance the anime ecosystem by combining traditional and digital content, creating innovative experiences for fans.
Animecoin demonstrates the growing integration of blockchain technology with anime culture. By providing tools for creators and fans to interact, the project seeks to overcome traditional barriers and expand global access to creative industries.
As the anime and blockchain sectors continue to evolve, Animecoin positions itself at the forefront of this convergence.
#AnimecoinOnBinance
$ANIME

The Department of Government Efficiency, or DOGE, is reportedly discussing the use of a public blockchain in its cost-cutting efforts.

The Department of Government Efficiency, the cost-cutting initiative led by billionaire Elon Musk, is reportedly considering the use of a public blockchain to bring transparency and other potential benefits to government operations and spending.
That's according to Bloomberg, which reported Saturday that Musk's DOGE agency is holding conversations with representatives from multiple existing public blockchains, according to sources close to the conversations.
No specific chains are mentioned in the report, though Bloomberg reports that DOGE is keen on using a blockchain—an immutable, public ledger—to monitor government spending and handle payments, handle data, and perhaps even "manage buildings" under the U.S. government's purview.
DOGE—which appears to share its acronym with the ticker of Musk's favorite cryptocurrency, Dogecoin—was discussed on President Donald Trump's campaign trail and then made official following his November election win. Musk was supposed to co-run the effort with Vivek Ramaswamy, but the latter billionaire and Bitcoin fan departed this week for an apparent run at Ohio governor.
Musk has said that DOGE aims to cut $2 trillion from the federal government via a combination of budget cuts and layoffs, though he has since backtracked and said that $1 trillion is more likely.
This week, Senator Elizabeth Warren wrote in a letter to Musk that DOGE appears to be a "venue for corruption," and suggested $2 trillion worth of spending cuts that wouldn't impact essential programs or raise taxes for middle-class Americans.
Musk is an avowed fan of Dogecoin, while Trump has launched NFTs across Ethereum scaling network Polygon as well as Bitcoin, and debuted his official meme coin on Solana last week. However, there's no word yet on which chain or chains might be used in the potential DOGE blockchain initiative.
#ElonMusk
$DOGE

Governmental participation in Bitcoin itself indicates a changing narrative over Bitcoin, however, the creation of a strategic Bitcoin reserve indicates something deeper.
#BTCStateReserves
$BTC

Cryptocurrencies are one of the best performing assets as compared to gold and the stock market. Looking at the growth of Bitcoin, Governments around the globe are adopting Bitcoin in one of another form. As per President Trump's promise, the US will create a Bitcoin Strategic reserve. For the US crypto reserve, Morgan Creek Capital CEO Mark Yusko suggests coins like XRP, ADA, and HBAR.
Due to this bullish news, Bitcoin hit an all-time high at $109,114.88, breaking its earlier record of $108,000 on Jan 20, 2025. Similarly, an innovative project like PlutoChain, a Bitcoin Layer 2 Solution may be worth looking at because it could expand Bitcoin’s capabilities in areas such as DeFi and more.
CEO Mark Yusko Proposes Ripple, Cardano, and Hedera for a Diversified Crypto Reserve
In this US presidential election, Bitcoin and crypto friendly policies are at the center stage along with other issues. As per President Trump's promise, the US will create a Bitcoin Strategic Reserve. Trump signs executive order promoting crypto, paving the way for digital asset stockpile. Morgan Creek Capital CEO Yusko said the Trump regime could create a wider strategic crypto reserve beyond Bitcoin. He suggests cryptocurrencies like Ripple (XRP), Cardano (ADA) and Hedera (HBAR) could bring diversification to the reserve.
XRP To Be Used As The Base Layer
Morgan Creek Capital Management CEO Yusko has stated that XRP could be used as a base layer for national banking. 

XRP is currently trading at $3.14. From the Nov of last year, XRP has been in bullish mode. The chart patterns show that XRP is making a triangle pattern and at the breakout, it is set to move upwards. In the past, XRP prices had similar momentum after the triangle breakout. XRP price has surged about 51%. The 20 EMA Orange line is also near the same zone and its working as an XRP price support for a long time and it looks to be holding and pushing upwards.
ADA’s Focus On Sustainability And Research
Trump has shown the idea of including coins founded in the United States in his strategic reserve. ADA has taken pride in ensuring that all of the technology developed goes through peer-reviewed research. The project also aims to redistribute power and help create a more secure, transparent, and fair society.

After falling from the recent high, ADA is following a parallel price momentum. Trading at 0.99, ADA is currently at the bottom of the below trendline. This could be a good opportunity to grab ADA as it could pump anytime if ADA news for strategic reserve comes out.
HBAR Could Be A Strong Contender For The US Crypto Reserve
As per CEO Mark Yusko, HBAR is the coin that has potential like ADA and XRP to be included in the strategic reserve. 

HBAR started its rally in Dec 2024, and the price has been bullish since then. HBAR has tried to break the $0.4 resistance twice but failed. On the third time, HBAR could break the resistance and continue the bullish price rally. After the breakout, HBAR could react to the target of $0.5 in no time.
#USConsumerConfidence
$BTC

A survey by Hong Kong’s brokerage firm Futu reveals that Gen Z is highly optimistic about crypto, seeing three times more potential in Bitcoin than in real estate.
A new survey by Hong Kong brokerage firm Futu Securities shows that Gen Z is rewriting the financial playbook. Instead of chasing the traditional dream of homeownership, this generation is betting big on Bitcoin BTC-0.94% Bitcoinand other tokens. According to the survey, Gen Z is three times more optimistic about crypto than real estate, signaling a major shift in how they view financial security.
Hong Kong’s newspaper The Standard, citing data revealed by brokerage firm Futu Securities, reveals the standout finding: 23% of Gen Z respondents feel safer with just two Bitcoin in their portfolio than with HK$1 million (roughly $128,400) for a down payment on a home. In a city where property has always been a symbol of wealth and stability, the change in mindset is significant.
And there’s good reason for the optimism. Bitcoin surged 125% in 2024, breaking the $100,000 mark in December before settling around $97,000. Meanwhile, Hong Kong’s property market has struggled to deliver the same level of returns. With numbers like these, it’s no surprise that virtual assets are becoming a top choice for the younger generation.
For 45% of Gen Z respondents, the convenience and security of crypto investments outweigh traditional assets like real estate. It’s not just about the returns — it’s about flexibility. Cryptocurrencies offer a level of freedom that property ownership simply can’t match.
Economic uncertainty shifts focus
Hong Kong residents aren’t feeling too secure about their finances. On average, they rate their financial security at 6.43 out of 10, according to the survey. With economic uncertainty looming large, more than half of respondents are turning to investments to generate passive income.
High earners, in particular, are diving headfirst into diverse and riskier assets.
25% have more than five income streams.
34% invest over half their income.
42% have invested in cryptocurrencies, with 66% seeing profits.
It’s clear that high earners are leading the charge, but Gen Z is following close behind.
Generational shift
The younger generation is shaping a new narrative around wealth. For many Gen Z, owning property isn’t the dream anymore. Instead, holding “two BTCs” feels like a better bet for financial security.
The newspaper notes that the sentiment isn’t just about chasing returns, it’s also about optimism. Gen Z sees a brighter future for virtual assets. They’re excited about the potential of crypto, with some saying it offers freedom and flexibility that traditional assets can’t match.
But it’s not just the kids. 77% of Gen X — those born between 1965 and 1980 — who are already investing in cryptocurrencies share an optimistic outlook, particularly about Bitcoin’s long-term potential.
In a commentary to crypto.news, Vivien Wong, partner liquid fund at HashKey Capital, said the shift of investors’s mindset unveils a “captivating interplay of influences.”
“While the tech-savvy souls are undoubtedly drawn to the digital charms of Bitcoin, with its decentralized allure and futuristic appeal, the fluctuating property price in Hong Kong’s real estate market in the recent few years cannot be overlooked. It’s as if the younger generation, armed with smartphones and coding languages, is spearheading a financial revolution, where the allure of virtual assets clashes with the property market.”
Vivien Wong
Wong noted that the influence of Gen Z extends “beyond social media trends and fashion choices” as the generation holds “significant disposable income” and reshapes “cultural trends and financial paradigms.”
“Aligned with values such as transparency, inclusivity, and digital native tooling, Bitcoin resonates with Gen Z’s principles, poised to further expand the cryptocurrency economy. This shift not only underscores the changing dynamics of wealth accumulation, but also hints the tradition meets innovation in the nowadays financial.”
Vivien Wong
The Futu report shows that diversification is key. Stocks and cryptocurrencies are the most popular asset classes for growth. U.S. stock trading volumes on Futu’s platform shot up by 88% in 2024, with sectors like AI, renewable energy, and healthcare leading the charge.
As Alan Tse, Futu’s managing director, puts it “digital assets are becoming an essential part of modern portfolios.” As a result, the shift isn’t just about investments. It’s about a change in how Hong Kongers view financial security.
#BTCStateReserves
$BTC

Sign-up free
More Reasons to Criticize XRP Added by Samson Mow on Crypto X

Published 25-01-2025, 02:33 PM
More Reasons to Criticize XRP Added by Samson Mow on Crypto X

BTC/USD
-0.93%
XRP/USD
-1.95%
U.Today - Samson Mow, Bitcoinmaximalist and the chief executive officer at JAN3 and a few other companies, has addressed the debate of whether the cryptocurrency stockpile that the U.S. government may hold in the future should include any other cryptos except Bitcoin. He definitely believes it should hold nothing but BTC.
In particular, the JAN3 boss took aim at Ripple and the XRP cryptocurrency affiliated with this blockchain company. He also commented on multiple X posts criticizing Ripple and XRP and added fuel to that issue.

"There are still way more reasons" to hate XRP: Mow
Samson Mow is a renowned Bitcoin maxi who is often spotted criticizing major altcoins, like ETH and XRP, while calling altcoins “s-coins.” This time he has poured criticism on the Ripple-affiliated crypto.
In a recent tweet, Mow wrote that he has been seeing a lot of posts that list out reasons “why you should hate Ripple/XRP” and stated he wanted to add some perspective. His “perspective,” expectedly, was to solidify those reasons for hating the company and the token it works with.
The JAN3 boss tweeted: “You still don’t hate them enough and there are still way more reasons why you should hate them.”

Mow's key argument against XRP in potential U.S. reserve
Samson Mow also touched on the debate that has recently emerged on the X platform on whether or not any cryptocurrencies apart from Bitcoin, such as XRP, should be added to the potential U.S. strategic crypto reserve.
Mow believes that adding anything else except Bitcoin to it means giving taxpayers’ money to companies and individuals that “printed their own token out of thin air.” Mow used Elon Musk’s D.O.G.E. rhetoric here since Musk and the Department of Government Efficiency are trying to reduce the excessive and wrongful spending of money paid into the budget by U.S. taxpayers.
#USConsumerConfidence
$BTC

Solana is all the rage right now, with high-flying predictions from analysts throwing in a view that the Solana price might be hitting $500 soon. This could even be faster than you are thinking. XRP analysts are moving closer to Solana as this top crypto asset keeps showing it is ready for all it takes for a full-blown bull run.
XRP predictions have all aligned well in the past two months, taking the Ripple coin to over $3 from $0.6 in barely two months. Is Solana also ready for the race to $500? Analysts believe this could be a race that has already started, and we could see the Solana price hitting $500 before the middle of February. These are all optimistic claims, but there is a lot going on right now behind the scenes, which could help Solana claim the $500 ATH soon. 
There is a lot to discuss here, so let's go through each one one by one.
TRUMP, Meme coins, and the Growing Community of New Crypto Traders
If you haven't heard about the TRUMP meme coin, you are already behind in the latest crypto news. It is the most talked about meme coin so far, and it went bullish within hours of launch and hit a market cap of more than 20 billion dollars. However, one thing that makes the TRUMP coin interesting for Solana price is that it was built directly by Solana ecosystems meme maker, pump.fun. Immediately after the success of the Trump Coin, over one thousand other meme coins were created, boosting the Solana price to a new all-time high of $294.
However, the Trump coin is not the beginning or the end of the Solana price success, as it has continued to solidify its position as one of the market's top altcoins. The price corrected briefly some days ago, falling to a low of around $230 from $294, but it has since picked up momentum and is currently trading around $265. If this momentum continues, the analysts' prediction of hitting $500 might be possible faster than anyone could think of.
Expand Your Portfolio Success with an Extra Layer of Potential Win
Here is how to add a bigger success trail to your crypto portfolio this Solana season: invest in the Remittix ($RTX) token. While Solana is one of the top altcoins in the market, its movement could only give you a maximum profit of up to 5x by the end of the first half 2025. However, while riding the growth potential of Solana, investing in a new crypto project like the $RTX token could help you more than double your portfolio in just 2 months.
The Remittix $RTX token is a new crypto project currently in its presale phase and has the potential to do more than 100x when it launches. For context, 100x means that investing as low as $100 on the $RTX token could see you get up to $10,000 before the end of the first half. This new crypto could be all the change your portfolio needs for a big break.
Now is the best time to add the $RTX token to your portfolio to help you cushion the effect of the rise and fall of the Solana price. The $RTX is currently selling at $0.0334, setting an incredibly low bar to accommodate entry from both big and small investors. The presale round will be ending soon, so you need to make the move today.
#SOLETFsOnTheHorizon
$SOL

JD Vance is among 13 members reporting crypto holdingsCrypto companies spent heavily on congressional racesTrump has named crypto advocates to high-level roles in administration
WASHINGTON, Jan 24 - President Donald Trump’sadministration is expected to usher in a boom time for crypto but a Reuters review shows very few members of the incoming congress are invested in bitcoin or other digital currencies.
On Thursday, Trump signed an order to create a cryptocurrency working group to open up the regulatory framework, and just days before he took office he launched a new crypto token.
But while many Republicans in Congress have pledged to support Trump’s agenda, a Reuters review of the most recent financial disclosures by the 535 incoming members of Congress found that few have made personal investments in crypto: only 13 members of the House and Senate had investments in cryptocurrencies as of their most recent filings. The spouse of one other representative owns bitcoin, and a second spouse has an agreement that could bring her coins.
All told, that is fewer than 3% of the members of the House of Representatives and Senate with direct exposure to cryptocurrency.
Although members of Congress are in general far wealthier than the public as a whole, their filings suggest they are for now much less likely to own crypto assets. According to a recent Pew Research survey, nearly one in five Americans reported at some point having invested in, traded or used a cryptocurrency.🪙
The amounts, too, are small. One senator – wealthy former hedge fund executive Dave McCormick – has up to $5 million of investment in a bitcoin fund. Apart from him, the combined cryptocurrency value of all the other 12 lawmakers is between $1.1 million and $2.6 million - a fraction of their reported wealth. Vice President J.D. Vance reported crypto holdings of between $250,001 and $500,000. (Reuters included the former senator from Ohio and now vice president because his position makes him president of the Senate.)
The small investments stand in contrast to the money poured into American politics by the crypto industry. By the summer, crypto companies had already spent more than $100 million, or nearly half of all corporate donations, on congressional races, accounting for nearly one in two dollars in corporate contributions, according to Public Citizen, a consumer advocacy group based in Washington, D.C.
Tyler Gellasch, a former U.S. Securities and Exchange Commission lawyer who heads the Healthy Markets Association, an organization in Washington, D.C. that advocates for strong securities regulation, said legislators' low holdings might be an aversion to the lack of safeguards surrounding the assets.
They are likely more aware of the risks than the general public, especially the lack of a coherent and robust regulatory regime,” Gellasch said, adding: "It’s not a bad thing for members to not have a self-interest in pumping up the value of their own digital asset holdings.”
Critics of cryptocurrencies, including some senior commercial and central bankers, highlight problems with fraud and say the fact that they are not backed by underlying, cash-generating assets or businesses makes buying them more like gambling than investing.
#TrumpCryptoOrder
$BTC

The crypto advisory council will guide digital asset policy, assist Congress with crypto laws, and support establishing Trump's proposed bitcoin reserve.

U.S. President Donald Trump on Thursday signed an order to create a cryptocurrency working group, fulfilling a campaign promise after he courted cash from digital asset companies pledging to be a "crypto president."
The crypto advisory council is expected to advise on digital asset policy, work with Congress on crypto legislation, help establish Trump's promised bitcoin reserve and coordinate between agencies including the Securities and Exchange Commission, Commodity Futures Trading Commission and the Treasury, Reuters previously reported.
While presidential advisory councils are not a new concept, there has never been one dedicated to cryptocurrencies.
#TrumpCryptoOrder
$BTC

Ripple aims to file its appeal reply brief by April 16, fueling speculation over an SEC withdrawal.CoinShares files for an XRP-spot ETF as issuers bet on SEC approval, mirroring BTC’s ETF impact.BTC holds above $100K, supported by ETF inflow trends and US Presidential executive orders.
SEC vs. Ripple: Appeal Proceedings Unfold
The Ripple case continued to draw interest on Friday, January 24, with Ripple requesting to file its appeal-related reply brief by April 16. Friday’s request followed the SEC’s appeal-related opening brief filing on January 15.
Ripple may have sought an extension, possibly anticipating a withdrawal of the SEC’s appeal. Pro-crypto lawyer Jeremy Hogan commented on the request:
This is very standard. The SEC also had 90 days to draft its initial brief. The only question here is – will the brief need to be filed at all??”
Markets remain optimistic regarding an SEC withdrawal, bolstering XRP demand. However, since Mark Uyeda was appointed acting Chair, the SEC has remained silent on its appeal plans in the Ripple case, leaving XRP short of its all-time high of $3.5505.
CoinShares Files for an XRP-spot ETF
Despite the SEC’s silence, ETF issuers continued filing applications for US XRP-spot ETFs on expectations the agency would end its challenge against the Programmatic Sales of XRP ruling. On January 24, CoinShares joined a growing number of issuers filing an XRP-spot ETF application.
Bitwise, Canary Funds, WisdomTree, and 21Shares are among ETF issuers having filed for XRP-spot ETFs.
Ripple President Monica Long recently expressed confidence in the prospects of an XRP-spot ETF market, stating,
“I think we will see one very soon. We will see various crypto spot ETFs this year coming out of the US, and I think XRP is likely to be next in line after BTC and ETH.”
Launching a US XRP-spot ETF market could potentially fuel XRP demand, mirroring the impact of the US BTC-spot ETF market on bitcoin BTC demand.
XRP Price Trends: SEC Appeal Strategy in Focus
On Friday, January 24, XRP fell 0.61%, following Thursday’s 1.87% decline, closing the day at $3.1000. XRP underperformed the broader crypto market, which rose 0.32%, taking the total market cap to $3.52 trillion.
Uncertainty surrounding the Ripple case left XRP in negative territory amid recent court filings, including the Better Markets filing for an Amicus Brief, supporting the SEC’s appeal.
XRP’s near-term trends hinge on the SEC’s appeal strategy. A pause or withdrawal could drive XRP above its all-time high of $3.5505. Conversely, pursuing the appeal could push prices below $2.50.
XRP Daily Chart affirms bullish price signals.
XRPUSD – Daily Chart – 25.01.25
Explore our expert analysis here on the SEC’s next move and its implications for XRP’s future.
Bitcoin Hits $107K Amid Spot ETF Inflows
Meanwhile, BTC-spot ETF market flows bolstered BTC demand on January 24. The spot ETF market reported net inflows of $188.7 million on January 23, extending its inflow streak to six sessions. On January 24, the BTC-spot ETF market could extend its inflow streak to seven, tilting the supply-demand balance in BTC’s favor. According to Farside Investors:
Fidelity Wise Origin Bitcoin Fund (FBTC) had net inflows of $186.1 million on January 24.
ARK 21Shares Bitcoin ETF (ARKB) saw net inflows of $168.7 million.
Excluding BlackRock’s (BLK) iShares Bitcoin Trust (IBIT), the US BTC-spot ETF market reported net inflows of $362 million.
BTC-spot ETF flow trends reflected upbeat investor sentiment toward the flurry of crypto-related activity on Capitol Hill.
US President Trump’s Pro-Crypto Agenda Gathers Momentum
US President Donald Trump signed an executive order (EO) on January 23, creating the Presidential Working Group on Digital Asset Markets. The group is reportedly tasked with developing a Federal regulatory framework governing digital assets, including stablecoins, and evaluating the creation of a strategic national digital assets stockpile.
While the EO was silent on a Strategic Bitcoin Reserve (SBR), markets remain hopeful of Capitol Hill approving the Bitcoin Act. Senator Cynthia Lummis introduced the Bitcoin Act in 2024, proposing the US government purchase one million BTC over five years, with a mandatory holding period of 20 years.
Ahead of Friday’s EO, there was debate on whether President Trump would push for a stockpile or reserve. Approval of a US SBR requires consensus among Congress, the Federal Reserve, the Treasury Department, and the President.
Amicus Curiae attorney John E. Deaton commented on the nuances of stockpiles and reserves:
“I’ve been saying for some time: What’s your definition of a SBR? President Trump, via EO, can order that all seized BTC (or any other seized digital asset for that matter) be held in escrow and not sold. If you call that a SBR, then I’m confident we get one. If by SBR, you mean the USG buying BTC, it will take an act of Congress, like the Senator Cynthia Lummis Bill.”
Friday’s EO followed the SEC’s rescission of Staff Accounting Bulletin 121 (SAB 121). The recission of SAB 121 could stimulate BTC and crypto demand as it removes the requirements for companies, including banks, to record crypto assets on their balance sheets even when holding them in customer custody.
The regulation significantly increased the cost for banks to provide crypto custody services, constraining crypto offerings and Bitcoin adoption.
Bitcoin Price Outlook
On Friday, January 24, BTC rose 0.84%, adding to Wednesday’s 0.28% gain, closing at $104,875. Significantly, BTC closed above the crucial $100k level for the eighth consecutive day. Recent price trends indicate investors’ confidence in Congress approving a US SBR.
BTC’s price trends remain hinged on Trump’s executive orders, SBR developments, and US BTC-spot ETF flows.
US BTC-spot ETF inflows and progress toward a US SBR could drive BTC beyond Monday’s record high of $109,312. Conversely, fading bets on an SBR and BTC-spot ETF outflows could drag BTC toward $95k.
undefined
Market Outlook: Regulatory Clarity in Focus
XRP and BTC face pivotal moments amid regulatory and political developments. XRP’s trajectory hinges on the SEC’s appeal strategy, while BTC’s outlook depends on Trump administration policies and ETF market trends. Regulatory clarity will be crucial in influencing sentiment in the coming weeks.
Stay updated with our expert analysis of these developments and their implications for crypto markets. Read more here.
#BTCStateReserves
$BTC

During the searches, the CBI seized digital virtual assets totalling USD 38,414 (approximately) in the cryptocurrency wallets of the accused persons, which had been digitally secured for investigation

The CBI has conducted search operations across seven locations after registering a case of Rs 350 crore crypto ponzi scam against seven persons, officials said Friday.
The accused persons were allegedly running seven separate modules based in the cities of Delhi, Hazaribag, Bathinda, Ratlam, Valsad, Pudukkottai and Chittorgarh, taking money from gullible investors promising investments in cryptocurrencies, they said.
"These ponzi schemes were being promoted through multiple social media groups. An analysis of bank account transactions and cryptocurrency wallets has revealed that the illegal proceeds from these schemes were being converted into cryptocurrencies to obscure their origin," CBI's spokesperson said in a statement.
It is alleged that they had conducted transactions of over Rs 350 crore in these schemes, the officials said.
On Thursday, the agency swooped down at locations in Delhi, Jharkhand, Punjab, Madhya Pradesh, Gujarat, Tamil Nadu and Rajasthan.
During the searches, the CBI seized digital virtual assets totalling USD 38,414 (approximately) in the cryptocurrency wallets of the accused persons, which had been digitally secured for investigation.
The searches resulted in the recovery of cash amounting to 34.2 lakh(approx), along with significant digital evidence, including seven mobile phones, one laptop, one tablet, three hard disks, 10 pen drives, memory cards, SIM cards, ATM/debit cards, email accounts, and several incriminating documents," the statement said.
The agency registered the case under Indian Penal Code section 120-B (criminal conspiracy), read with Section 420 (cheating) and Section 66D of the Information Technology Act, 2000, because it was part of an ongoing investigation that predated the introduction of three new criminal laws last year.
"It was alleged that accused persons, acting in criminal conspiracy, have been actively floating various ponzi and fraudulent schemes, promising high returns based on cryptocurrency investments. They are also accused of promoting, promising, and disseminating false and deceptive information to entice investors into these unregulated deposit schemes, which operate without requisite approvals from regulatory authorities such as the Reserve Bank of India (RBI)," the statement said.
#USConsumerConfidence
$BTC