Bitcoin hit new ATH, and what about Alt Coin? | Dreamboat_id on Binance Square

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Bitcoin hit new ATH, and what about Alt Coin?

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Coinbase and two executives have been hit with another proposed class-action lawsuit over the crypto exchange’s stock price drop after disclosing a user data breach earlier this month and for allegedly failing to disclose a violation of an agreement with a UK regulator. Coinbase investor Brady Nessler said in a May 22 lawsuit filed in a Pennsylvania federal court that the data breach and the alleged broken agreement with the UK’s Financial Conduct Authority resulted in a “precipitous decline in the market value of the Company’s common shares,” causing stockholders to suffer “significant losses and damages.” Coinbase said on May 15 that its damages bill could run up to $400 million after it was hit with a $20 million extortion attempt four days earlier, with several of its customer support agents bribed to access internal systems and steal a limited amount of user account data. More here https://t.co/RivTEKTMPi #bitcoin #crypto #cryptonews

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Mihailo Bjelic, co-founder of Ethereum layer-2 scaling solution Polygon, has stepped down from his role at Polygon but suggests he will stay active in the crypto industry in some capacity. His resignation drew reactions across Polygon and the wider crypto community, with several seeing it as a loss for Polygon, which has been tied to several major developments in recent months. Bjelic winds down ‘day-to-day involvement’ “After much thought and reflection, I’ve decided to step down from the board of the Polygon Foundation and wind down my day-to-day involvement with Polygon Labs,” Bjelic said in a May 23 X post. More here https://t.co/nWQg5Fo6uZ #bitcoin #crypto #cryptonews

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Worldcoin’s parent entity, the nonprofit World Foundation, has injected fresh momentum into its biometric-identity project after selling $135 million worth of liquid WLD tokens at spot price to two of its earliest backers, Andreessen Horowitz (a16z) and Bain Capital Crypto. The direct purchase—explicitly “not a venture round… a direct purchase of non-discounted liquid tokens,” according to the foundation—adds the same amount of WLD to circulating supply and leaves no lock-ups or preferential terms on the table. Worldcoin Rakes In $135 Million The sale is meant to bankroll a rapid expansion of Worldcoin’s iris-scanning “Orb” hardware in the United States—still the project’s toughest regulatory theater—and to keep pace with surging demand abroad. “To date, more than 26 million users participate in the World network and more than 12.5 million people have an Orb-verified World ID,” the foundation said in its press release, adding that the capital will help the network become “one of the first self-sustaining protocols.” More here https://t.co/dZ5xqZyz2S #bitcoin #crypto #cryptonews

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Having surged about 22.5% over the past 30 days, Bitcoin (BTC) has sparked concerns in the crypto market that its rally may be nearing exhaustion, with a potential price correction on the horizon. However, the latest on-chain data reveals that despite elevated unrealized profits, there are still no signs of increased selling pressure for the leading cryptocurrency. Bitcoin Unrealized Profits Remain High But No Panic Selling Yet According to a recent CryptoQuant Quicktake post by Bitcoin analyst Crazzyblockk, the cohort of new investors – those who have held BTC for less than one month – is currently sitting on unrealized profits of 6.9%. In the same vein, short-term investors – holders who have held Bitcoin for less than six months – are sitting on unrealized profits of 10.7%. These figures highlight that the unrealized profit/loss ratio remains elevated, with unrealized profits far outweighing unrealized losses. More here https://t.co/259WU34P97 #bitcoin #crypto #cryptonews

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The U.S. Securities and Exchange Commission announced Tuesday that it has charged New York-based crypto project Unicoin and its three top executives for allegedly offering fraud rights certificates to investors of its cryptocurrency and common stock. Unicoin allegedly targeted thousands of investors with unsupported promises that its crypto tokens would be backed by real-world assets including real estate holdings and equity interests in pre-IPO companies worth billions of dollars, the SEC said. "But as we allege, the real estate assets were worth a mere fraction of what the company claimed, and the majority of the company’s sales of rights certificates were illusory," said Mark Cave, associate director in the SEC's Division of Enforcement. More here https://t.co/aTyErbm2MS #bitcoin #crypto #cryptonews

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