Vladimir Smerkis, one of the founders of the crypto game Blum and former head of Binance’s CIS division, has been detained in Moscow over suspected fraud. The Zamoskvoretsky District Court issued the detention order without revealing details of the alleged wrongdoing. Blum gained popularity as part of the 'tap-to-earn' trend, where players tap their screens to earn digital tokens. Following the arrest, Blum clarified that Smerkis is no longer involved in the company. The tap-to-earn sector has attracted attention since the success of Hamster Kombat in 2024, with Blum being one of the projects that followed. Currently, the tap-to-earn market is valued at $511 million. BeInCrypto is committed to providing accurate and transparent information, but readers are encouraged to verify facts independently before making decisions based on the content. #BLUM #BlockchainGaming #BinanceAlphaPoints #crypto #telegramMining
Moody's Downgrades US Credit Rating Due to Rising National Debt :
Moody's credit rating agency has lowered the United States government's credit rating from Aaa to Aa1, attributing the increase in national debt as the main reason for the downgrade. Despite the downgrade, Moody's remains optimistic about the long-term health of the US economy, highlighting its strong economy and the global reserve currency status of the US dollar. The announcement received mixed reactions from investors, with some questioning the agency's credibility. While some, like Gabor Gurbacs, criticized Moody's track record in assessing credit during financial crises, others like Jim Bianco downplayed the significance of the downgrade. The US government's debt has exceeded $36 trillion and continues to rise, leading to concerns about increasing bond yields and debt service payments. This trend could create a cycle where the government needs to offer higher yields to attract investors, further adding to the national debt.
Trend: BTC is consolidating near the $103K–$104.5K range, with resistance at $104.5K and support at $103K.
🔹 Ethereum (ETH)
Current Price: ~$2,472
Trend: ETH is experiencing range-bound movement, with a 2.4% increase in the ETH/BTC trading pair over the past 24 hours, indicating potential for upward momentum.
🔹 Altcoins
Solana (SOL): Trading near $167, with analysts noting a critical price level at this point.