⚠️ T-Mobile fined $33M for SIM-swap crypto theft

T-Mobile has been ordered to pay $33 million after being found liable for negligence in protecting customers from SIM-swap attacks that led to major cryptocurrency theft. The ruling, secured by Greenberg Glusker, also includes $6.5 million in legal costs, highlighting the ongoing vulnerability of mobile networks.

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🥷 China sentences 34 people to prison for $64M crypto fraud

A Chinese court sentenced 34 individuals to 3-12 years in prison for running the fraudulent crypto exchange OURBIT, which scammed 30,000 investors out of $64 million. The platform used fake trading data and false licenses to appear legitimate, luring victims through WeChat groups and promising high returns.

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⏬ Ethereum drops below $1,850 amid viral “meowing” Vitalik video

Ethereum’s price fell below $1,850, partly fueled by a viral video of Vitalik Buterin “meowing” at a robot. The clip sparked mixed reactions, with some traders humorously linking it to ETH’s decline. Since December 2024, Ethereum has dropped 55%, reaching a 5-year low against Bitcoin.

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🔥 PumpSwap DEX hits $10B volume just 10 days after launch

PumpSwap, the new DEX from Pump.fun, surpassed $10 billion in trading volume within 10 days of launch, claiming 67.4% of Solana DEX volume. Competing exchanges like Raydium and Meteora now lag behind, with Raydium holding just 18.2%. The DEX has generated $20M in fees, with 700,000 wallets accessing the protocol.

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📣 FTX to begin major creditor repayments on May 30

FTX will start repaying creditor claims over $50,000 on May 30, following its bankruptcy process. Claims will be valued as of the November 11, 2022 bankruptcy date, meaning BTC claims are worth just 20% of current market price. The process could take months due to numerous fraudulent claims.

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💡 Gold outshines Bitcoin as safe haven amid Trump’s 2025 tariff chaos

A Bank of America survey shows that 58% of fund managers favor gold as a safe haven during trade wars, while only 3% prefer Bitcoin. Institutional investors cite Bitcoin's volatility and lack of crisis-time liquidity as key barriers. As Trump's tariffs fuel uncertainty, gold dominates investment flows.

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🪂 Initia to airdrop 50M INIT tokens before mainnet launch

Layer 1 blockchain Initia announced an airdrop of 50 million INIT tokens ahead of its mainnet launch. 90% of the tokens will go to testnet participants from 2024, while 4.5% will be distributed to users of partner networks like LayerZero, IBC, and MilkyWay. The remaining 6% will reward social media contributors.

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🔥 BlackRock CEO: Bitcoin Could Replace the Dollar as the Reserve Currency

Larry Fink, CEO of BlackRock, stated that if the U.S. doesn't take control of its national debt, the dollar could lose its status as the global reserve currency to Bitcoin. He highlighted that digital assets, including Bitcoin, might become safer alternatives if economic instability persists.

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🪙Strategy buys another $1.92B in Bitcoin

Strategy has acquired 22,048 BTC for $1.92 billion, bringing its total reserves to 528,185 BTC—over 2.5% of the total supply. The purchase was funded by selling class A shares and STRK preferred shares. Despite recent volatility, the company remains the largest corporate Bitcoin holder.

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⭕️ NFT Marketplace X2Y2 Shuts Down, Pivots to Crypto AI

X2Y2 is shutting down its NFT marketplace after a 90% drop in trading volume, down from a peak of $209M in May 2022 to $53.6M in the past year. The project plans to pivot towards crypto AI, focusing on building a decentralized AI platform that offers yield opportunities regardless of market conditions. The native token X2Y2 has also plummeted nearly 90%, with a current fully diluted value of $1.4M.

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⚡️ Binance Introduces CEX-DEX Trading Integration

Binance launched a feature enabling users to trade between centralized and decentralized exchanges directly from their Binance wallet. The integration supports Ethereum, Solana, Base, and BNB Smart Chain. CEO Richard Teng highlighted the need for regulatory clarity and institutional adoption.

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🫱 Circle teams up with JP Morgan and Citi ahead of IPO

Stablecoin issuer Circle has enlisted JP Morgan Chase and Citi to support its planned IPO, expected in late April. This follows previous attempts to go public via a SPAC merger in 2021 and a confidential SEC filing in 2024. Circle aims to capitalize on the current crypto-friendly regulatory environment.

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✅ Hut 8 partners with Trump-backed firm to launch American Bitcoin

Hut 8 has taken an 80% stake in Trump-backed American Data Centers, rebranding it as the bitcoin mining company "American Bitcoin." The new venture will deploy over 60,000 ASIC machines, with shares rising 6% pre-market despite being down 46% YTD. The partnership marks another crypto move by the Trump family.

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🥷 Man Loses £750,000 in ‘Cryptomugging’

A UK man lost £750,000 in a "cryptomugging" after robbers stole his unlocked phone and forced him to transfer funds. Despite security measures, the thieves quickly accessed his crypto apps. Another victim reported similar losses, with both facing unhelpful responses from police.

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❕ Wintermute linked to altcoin dump.

Prices of around ten low-cap coins like $ACT, $DEXE, and $HIPPO fell by up to 50%. The Data Nerd confirmed the sale of meme tokens by Wintermute, while some traders speculate that forced liquidations and margin restrictions on Binance might be the cause. Wintermute's CEO denies involvement, calling the situation "crazy."

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⚠️ Crypto trader loses $3.7M after Binance rule update

A trader lost $3.79M after Binance unexpectedly changed leverage and margin tiers for tokens like $ACT, causing liquidation at $0.1877. The update, affecting USDⓈ-M perpetual contracts, led to a 46% drop in $ACT, with broader impacts on AI-related altcoins.

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🥷 UPCX suspends transactions after $70M hack reveals security flaws

Crypto payments platform UPCX halted deposits and withdrawals after detecting unauthorized access to a management account, potentially resulting in a $70 million loss. The breach involved modifying smart contract permissions to move 18.4 million UPC tokens.

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🗣️ Eric Trump: Bitcoin is one of the greatest stores of value

Eric Trump praised Bitcoin as a top store of value and a hedge against real estate, citing its liquidity and decentralized nature. He expressed support for clearer crypto regulations and believes US stablecoins could help maintain the dollar's dominance.

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Tether boosts BTC reserves with 8,888 BTC purchase

Tether acquired 8,888 BTC ($735M) in Q1 2025, raising its total to 92,647 BTC ($7.64B), becoming the 6th largest holder. While the move aligns with Tether’s quarterly strategy, it raises concerns over USDT’s stability due to BTC’s volatility.

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🗓️ FTX to start creditor payouts on May 30

FTX plans to begin paying major creditors on May 30, using its $11.4B cash reserves. Smaller creditors started receiving distributions in February. The plan, approved last year, aims to return 119% of holdings’ value as of FTX’s bankruptcy filing in November 2022.

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