Pi Location announced via a post on platform X the listing of its currency Pi on Binance, the largest cryptocurrency exchange. The currency, which has a market value of 4.71 billion dollars, is traded at a level of 0.64 dollars according to data from CoinMarketCap. The Pi Network is a social cryptocurrency, a platform for developers, and an ecosystem designed to provide wide accessibility and leverage its practical advantages. It enables users to mine Pi and conduct transactions using an easy-to-use interface on mobile devices, with support for integrated applications within its own blockchain ecosystem.
New research from "Google" has revealed that the advancement of quantum computing poses a real threat to the encryption of digital currencies, particularly "Bitcoin". According to the study, quantum computers now require less than a million qubits to break the RSA algorithm, compared to previous estimates of 20 million qubits; this means the task has become twenty times easier than experts previously thought. But what are quantum computers? They are a new generation of computers that do not operate on binary logic (0 and 1) like traditional computers, but instead use "qubits" that can exist in both 0 and 1 states simultaneously, giving them immense capability to process data and solve complex problems at a speed unmatched by current computers. Thanks to this capability, they may be able to break encryption systems that are relied upon today to protect digital information$BTC
Today marks the anniversary of the first transaction in the history of cryptocurrency: 10,000 Bitcoin for one pizza at $41, which today is worth $1.1 billion. On May 22, 2010, Laszlo Hanyecz, a man from Florida, made the first real transaction using Bitcoin when he exchanged 10,000 Bitcoin for two pizzas from Papa John's. At that time, the value of these coins was no more than $41. Today, they are estimated to be worth over $1.1 billion. Despite this huge difference in value, Hanyecz does not feel regret; he sees the idea of buying pizza with a currency that was worth almost nothing at that time as a "really great" idea, as he described it. Since that day, May 22 has been known as Bitcoin Pizza Day and is celebrated annually in the cryptocurrency community around the world, as a reminder of Bitcoin's humble beginnings and the ambition that brought it to what it is today. On this day, special events and promotions are held, and discounts are offered to those who choose to pay with Bitcoin, in a symbolic celebration of the first transaction that opened the door to the use of digital currencies in daily life.$BTC
Binance has filed a request with the Delaware bankruptcy court to dismiss a lawsuit brought by the new management of the bankrupt cryptocurrency exchange FTX, seeking to recover $1.76 billion related to a share repurchase deal from 2021, and attempted to blame its collapse on the criminal misconduct of its founder Sam Bankman-Fried. Binance's legal team described the lawsuit as "legally flawed," adding that FTX's bankruptcy was the result of internal failures and not any wrongdoing by Binance. According to the filing, the lawsuit "takes almost ridiculous measures to downplay" the role of Sam Bankman-Fried, who was convicted in 2023 on 7 charges related to fraud, conspiracy, and money laundering, and is now serving a 25-year federal prison sentence. The plaintiffs are suing Binance in connection with a deal made in July 2021, where the former sold its stake in FTX to the company, in return receiving a large amount of cryptocurrency assets, which FTX claims were illegally withdrawn from customer deposits. While it was noted that this deal was executed at a time when the exchange was already insolvent, making it a fraudulent transfer under U.S. bankruptcy law. Binance refutes these allegations, pointing out that FTX was operational for 16 months after the deal, insisting that there was no bankruptcy case at that time.
More than 50 cryptocurrency exchange-traded funds are awaiting approval from the Securities and Exchange Commission. We are waiting for a new wave of cryptocurrency exchange-traded funds to enter the U.S. markets, where more than 50 funds are awaiting decisions from the U.S. Securities and Exchange Commission. These funds cover all currencies, from Bitcoin and Ethereum to Solana, Ripple, and Dogecoin, according to the latest Bloomberg figures. For the big names, applications are coming from companies: 'Grayscale', 'Vanguard', 'Bitwise', and 'Franklin Templeton'. According to the data, the applications for new exchange-traded funds in various currencies such as Solana, XRP, and Cardano indicate that the altcoin market may be on the horizon with increasing institutional interest in this sector. Some investment funds - such as Bitcoin and Ethereum funds traded on the New York Stock Exchange and the Chicago Board Options Exchange - already have deadlines by the end of the year for launch, while other funds - 1940 Act funds - do not require full approval from the U.S. Securities and Exchange Commission (SEC) for their launch, and they are progressing at a faster pace, including ProShares and Rex-Ospray funds. These assets include everything from Solana to meme coins like Dogecoin.
Upexi raises $100 million to purchase Solana tokens Upexi, a brand owner specializing in the development, manufacturing, and distribution of consumer products, announced a special offering on the Nasdaq stock exchange, valued at $100 million aimed at purchasing Solana tokens. The company offered 43,859,649 shares of common stock (or pre-funded warrants in lieu thereof) at a price of $2.28 per share, with total proceeds estimated at around $100 million, before underwriting fees and other offering expenses. The offering is expected to close on April 24, 2025, after the customary closing conditions are met, according to Upexi in a press release. Several companies and investors have joined the company's plan to purchase shares, including notable firms such as "Delphi," "Anagram," "Big Brain," "Maelstrom," "White Star Capital," and "Ventures." Among those who joined as investors are: Austin Fidera, Frank Shapiro, Joey Krug, Bartosz Lipinski, Larry Wu, and Jordan Prince, in addition to Upexi's CEO Alan Marshall. Leila Liu, president of the Solana Foundation, said: "It is encouraging to see institutions exploring blockchain infrastructure in effective ways, as this announcement from Upexi highlights the growing interest in using Solana for real-world financial applications, which is another indicator of the overlap between traditional finance and decentralized finance (DeFi)."
The blockchain analytics company Santiment reported that Bitcoin whales added 53,600 new coins, thereby acquiring 68% of the circulating supply. The company considered this step as evidence of high confidence among large investors who own between 10 and 10,000 Bitcoins, noting that they accumulated this amount since March 22, now controlling 67.77% of the supply.
380 million dollars of stolen bybit tokens in the hacking operation disappeared without a trace. Bybit CEO Ben Zhou stated that 2795% of the funds lost in the hack, which amounted to 1.4 billion dollars and was executed by the North Korean Lazarus Group, has become untraceable or "disappeared without a trace". Zhou stated in an executive summary published on platform X: "The total funds hacked amounted to 1.4 billion US dollars, equivalent to about 500,000 Ethereum (ETH). 68.57% of these funds remain traceable, 27.59% have disappeared, and 3.84% have been frozen. The untraceable funds initially flowed into mixers, then crossed bridges to peer-to-peer (P2P) trading platforms and over-the-counter (OTC) markets." He further clarified that the untraceable funds were first transferred to mixing services, before being converted via bridges to P2P and OTC platforms, noting the use of the Wasabi service, a cryptocurrency mixing platform, to launder a certain amount of Bitcoin (BTC). Subsequently, part of these funds entered other mixing platforms such as CryptoMixer, Tornado Cash, and Railgun.
It is a measure of the amount of liquidity available in the economy, i.e., the amount of 'ready money' that individuals can spend or invest. It consists of: circulating cash money in checking accounts deposits that can be easily withdrawn Why is it important? Because an increase in M2 means that there is greater liquidity in the market, which may lead to increased spending... However, if there is no real economic growth to match this liquidity, it could lead to inflation. Currently, we are witnessing an increase in liquidity in some countries, which reflects on prices, interest rates, and investment movements. Understanding M2 helps us read the economic landscape more clearly.