Bitcoin

Ziglu Makes Crypto Spendable, Launches Ziglu Coin, and Expands to Europe

Casey2 months ago2 months ago04 mins

Ziglu is shaking up the way people use cryptocurrency in everyday life. With its Ziglu Mastercard debit card, users can now spend crypto like cash—online, in-store, and even at ATMs. No complicated conversions, no waiting—just real-time crypto-to-fiat transactions that work instantly, anywhere in the world. Crypto Spending Made Simple Unlike traditional crypto payment methods that require manual conversions, Ziglu allows users to set their preferred spending balance—whether in crypto, fiat, or a mix of both. When a purchase is made, Ziglu automatically converts the chosen assets in real time, making crypto as easy to use as traditional money. Introducing Ziglu Coin: A New Digital Asset Taking innovation even further, Ziglu has announced the upcoming launch of Ziglu Coin, backed by a $10 million investment. Set to roll out in Q2 2025, Ziglu Coin will be available on Ziglu and major exchanges. Users will be able to earn Ziglu Coin through the Ziglu app, unlocking exclusive rewards and benefits via an enhanced subscription program. A full prospectus detailing its use cases and benefits will be released soon. “Ziglu Coin is an important step in bringing more utility, accessibility, and rewards to our users,” said Mark Hipperson, Founder & CEO of Ziglu.“We’re building an ecosystem where digital assets and traditional finance work together, giving people more control over their money.” Series A Fundraise: £5M at £45M Valuation To accelerate product development and expansion, Ziglu has launched a £5 million Series A fundraise at a £45 million valuation. This investment will fuel: New product innovations Expansion into Gibraltar and the EU New investment opportunities for users Why Gibraltar? Ziglu is setting up operations in Gibraltar, a fast-growing fintech hub with strong regulatory clarity, access to the UK market, and a business-friendly environment. “Gibraltar is an ideal place for fintech growth,” said Hipperson.“Its regulatory clarity and thriving business ecosystem make it a natural choice for our expansion.” With a game-changing approach to crypto spending, a new digital asset on the horizon, and ambitious expansion plans, Ziglu is positioning itself as a major player in the future of digital finance. What do you think—are crypto payments finally going mainstream?

Argentine Judge Investigates President Milei Over Crypto Scandal

Casey2 months ago2 months ago04 mins

An Argentine judge has been assigned to investigate allegations of fraud against President Javier Milei after he briefly promoted a cryptocurrency that collapsed within hours of its launch last week. The coin, called $LIBRA, initially surged in value but quickly plummeted, causing millions of dollars in losses for investors. Milei Distances Himself from the Controversy President Milei has denied any involvement with the creators of $LIBRA, stating that he acted in good faith when he mentioned it on social media. He initially promoted the project on Friday, February 16, describing it as an initiative to support small businesses and startups in Argentina. However, as criticism grew and concerns about a possible scam surfaced, he deleted the post within hours. His office later clarified that the president had no role in developing the cryptocurrency and that he removed his post to avoid speculation and prevent further damage. The Investigation Begins On Monday, February 19, Judge Maria Servini of Federal Court No. 1 in Buenos Aires was assigned to oversee the case. The investigation follows multiple fraud complaints filed by Argentine lawyers, who argue that Milei’s endorsement of $LIBRA misled the public and contributed to financial losses. There is no deadline for Servini to complete the investigation, leaving the timeline open-ended. How the Crypto Crash Unfolded When $LIBRA was launched, it briefly reached a market capitalization of over $4 billion. However, its value quickly plummeted after critics suggested it might be a scam. Investors who bought in early suffered heavy losses as the price dropped sharply. The cryptocurrency was developed by KIP Protocol and Hayden Davis and could be purchased through a website called vivalalibertadproject.com—a reference to Milei’s famous phrase, “Viva la libertad!” which he often uses in speeches and on social media. What’s Next? With the investigation now underway, it remains to be seen whether Milei will face any legal consequences or if he will be cleared of wrongdoing. For now, his administration maintains that he had no connection to the cryptocurrency’s developers and that his post was simply an expression of support for innovation and entrepreneurship. This case could have significant implications for crypto regulations in Argentina and how public figures promote digital assets in the future.

Bitcoin Holds Steady Amid Uncertain Times, But Analysts Warn of Potential Volatility

Casey2 months ago2 months ago02 mins

Amid ongoing global uncertainties, Bitcoin is maintaining a narrow trading range between $96,000 and $98,000. This stability comes despite growing concerns over inflation and escalating trade war tensions following recent tariff announcements by former President Donald Trump. Over the past week, the overall crypto market has shown resilience, with total market capitalization inching up modestly. While Bitcoin’s price has fluctuated slightly—peaking near $98,570 and dipping to around $94,780—analysts note that the coin’s current range suggests a firm underlying bullish sentiment. Investors remain cautious, however. Experts warn that while this period of calm may provide temporary reassurance, significant financial events on the horizon could trigger increased volatility. Market participants are keeping a close watch on key support levels, as any breakdown below critical thresholds might lead to sharp price corrections. In addition to Bitcoin, other major tokens like Ethereum and XRP are experiencing their own dynamics. Ethereum has been trading near $2,600, and XRP has recently gained traction amid optimism over regulatory developments. Meanwhile, altcoins such as Solana are under pressure, with some forecasts predicting further declines if a rebound does not occur. In this evolving landscape, traders are advised to stay vigilant and conduct thorough research. Although Bitcoin’s current stability is a positive sign, the potential for sudden market swings remains high as investors anticipate the next major catalyst in a rapidly shifting economic environment. Disclaimer: Cryptocurrency investments carry inherent risks. Readers should seek professional advice and perform their own due diligence before making any investment decisions.

ED Makes Historic Seizure of Rs 1,646 Crore in Crypto Assets in Gujarat

Casey2 months ago2 months ago04 mins

New Delhi – In what is being hailed as a landmark operation, the Enforcement Directorate (ED) has seized cryptocurrency assets valued at Rs 1,646 crore in a single day from premises in Gujarat. This record-breaking action is part of an ongoing probe into a massive cryptocurrency fraud linked to the notorious BitConnect scam, which allegedly defrauded investors out of nearly $2.4 billion. The assets were recovered from digital devices during targeted searches at locations associated with accused Satish Kumbhani. Hailing from Gujarat, Kumbhani is accused of orchestrating a global Ponzi scheme between 2016 and 2018 through his U.S.-based firm, BitConnect. The scam promised extraordinarily high returns—reportedly 40% per month—using a so-called “volatility software trading bot” and displayed false performance figures to lure in investors. The ED’s investigation, conducted under the Prevention of Money Laundering Act (PMLA), also involves charges under multiple sections of the Indian Penal Code and other regulatory laws. In addition to the crypto seizure, assets worth Rs 535 crore have been attached in connection with the probe. According to an ED official, the investigation was able to trace a large number of transactions conducted via the dark web. By meticulously tracking web wallets, IP addresses, and gathering on-ground intelligence, the agency pinpointed the locations of digital devices holding the illicit assets. The BitConnect case first made headlines in India when investor Ashwin Limbasiya reported a fraud involving Rs 1.14 crore in 2018. While some of Kumbhani’s associates were arrested soon after, Kumbhani himself was taken into custody in June 2019 and was later questioned by the FBI before being released on bail in 2020. This historic seizure by the ED not only represents the largest amount recovered by any Indian investigating agency in a single day but also sends a strong message to those involved in digital asset fraud. As authorities continue their probe, the focus remains on unearthing the full scale of the fraud and ensuring that such schemes do not undermine investor confidence in the rapidly evolving crypto market. Investors and market watchers alike are closely monitoring this case, which underscores the urgent need for robust regulatory oversight in the cryptocurrency space.

Crypto Traders Bet on Early Exits Despite Rug Pull Warnings

Casey2 months ago2 months ago03 mins

On February 15, 2025, a tweet by @AltcoinGordon on X (formerly Twitter) sent ripples through the crypto community. In his post, he candidly admitted, “I know it will rug but I’ll get in early and sell before everyone else.” This statement highlights a risky strategy where traders attempt to ride the early hype of a project—even if they expect it to collapse—by quickly exiting before the crash. At the time of the tweet, Bitcoin was priced at $56,230, up by 1.2% in the last 24 hours, and Ethereum was trading at $3,450, showing a modest gain of 0.8%. The post quickly gained traction, amassing over 1,000 retweets in just one hour, signaling strong community engagement and a willingness to take on high-risk moves. Following the tweet, trading volumes surged. Bitcoin’s trading volume increased by 5% to $28 billion, while Ethereum’s volume climbed 3% to $15 billion, according to CoinMarketCap. On Binance, the BTC/USDT pair saw volume spike by 7% to $30 billion, and ETH/USDT increased by 5% to $16 billion. On-chain data also revealed a small but notable rise in active addresses—Bitcoin’s active addresses grew by 2% and Ethereum’s by 1.5%—indicating heightened market activity. Technical indicators supported the bullish sentiment. Bitcoin’s Relative Strength Index (RSI) was at 68, nearing overbought levels, and its MACD showed a bullish crossover. Ethereum’s RSI was 62, and its MACD also hinted at upward momentum. However, the strategy of “getting in early and selling before the rug pull” remains extremely risky. A study from the University of Cambridge found that only 20% of traders using this approach successfully exit in time, with the remaining 80% facing losses. While there were no specific AI news events affecting the market on that day, the overall trend of institutional adoption of AI-driven trading algorithms continues to boost trading volumes and market efficiency. In summary, despite clear warnings and historical data showing the dangers of this strategy, some traders are betting on timing the market to capitalize on early gains. As always, investors should exercise caution and conduct thorough research before attempting such high-risk moves in a volatile market.

U.S. Focuses on Regulating Stablecoins, Ditching Bitcoin Reserve Plans

Casey2 months ago2 months ago05 mins

In a notable shift of strategy, U.S. officials are now prioritizing the regulation of stablecoins over the establishment of a Strategic Bitcoin reserve. This pivot underscores a growing belief that well-regulated, dollar-backed digital currencies can strengthen the U.S. dollar’s position globally while offering a safer investment alternative. On February 6, 2025, key lawmakers—Financial Services Committee Chairman French Hill and Digital Assets, Financial Technology, and Artificial Intelligence Subcommittee Chairman Bryan Steil—unveiled a draft bill aimed at setting clear rules for the issuance and management of USD-pegged stablecoins. Under this proposal, stablecoin issuers would need approval from the Office of the Comptroller of the Currency (OCC) and would be required to back each token with cash, short-term U.S. Treasury bills, or central bank reserves on a one-to-one basis. Senate Banking Committee Chairman Tim Scott has also weighed in, highlighting that regulated stablecoins could improve financial inclusion by making the U.S. dollar more accessible in regions with limited banking infrastructure or unstable local currencies. This new regulation, known as the STABLE Act, is part of a broader legislative effort that includes another bipartisan initiative—the GENIUS Act—which targets stablecoins with market caps exceeding $10 billion. The upcoming rules could have serious implications for major players like Tether. According to JPMorgan analysts, Tether might face pressure to sell some of its Bitcoin holdings to meet these stricter backing requirements, as current figures suggest it is only partially backed. Industry experts, such as Jeff Park of Itwise, argue that stablecoins offer significant advantages over Bitcoin when it comes to spreading the U.S. dollar’s value around the world. He points out that while a stablecoin’s price remains constant, its global use can drive up international demand for the dollar, ultimately boosting its value. Fed Governor Christopher Waller echoed these sentiments during a recent conference in San Francisco, stressing the potential of stablecoins to extend the reach of the U.S. dollar internationally—though he cautioned that the success of this initiative will depend heavily on the robustness of the regulatory framework. Recent developments in the crypto market add further weight to this focus. For example, Ripple’s new stablecoin, RLUSD, has quickly amassed a market cap of $100 million, and Mastercard reported that approximately 30% of its 2024 transactions were tokenized via blockchain technology. These examples illustrate how stablecoins are poised to disrupt traditional financial systems. As U.S. policymakers work to finalize these regulations, investors and industry watchers are keeping a close eye on how the stablecoin market will evolve. This new regulatory push could well signal the beginning of a more stable and accessible era in digital finance—one that favors the steady value of the U.S. dollar over the volatility of cryptocurrencies like Bitcoin.

Pi Network Sparks Controversy with Regional Trading Restrictions Ahead of Mainnet Launch

Casey2 months ago2 months ago04 mins

As Pi Network gears up for its long-anticipated Mainnet launch on February 20, the project is once again facing backlash—this time over restrictions on trading in certain regions. OKX, one of the key exchanges set to list PI, confirmed that some countries, including mainland China, might not have access to trading or deposits. OKX Clarifies: Restrictions Came from Pi Network In response to growing concerns, OKX distanced itself from the decision, stating that the trading restrictions were imposed by Pi Network itself. While OKX has yet to confirm the full list of affected regions, the uncertainty has fueled frustration among Pi Network miners, many of whom have been waiting for years to cash out their holdings. The move has left some users questioning the project’s original vision. Pi Network has long branded itself as an inclusive financial ecosystem, yet these restrictions appear to contradict that promise. Community Backlash: “A Red Flag for Liquidity” Critics and supporters alike are debating the impact of Pi Network’s isolated listing strategy. One vocal critic on X (formerly Twitter), “FOMO HUNTER,” highlighted concerns over market liquidity, stating: “Isolated listing mode is a red flag for liquidity and access. Always question the impact on trading volume and market dynamics. Strategy over speculation.” This latest controversy adds to Pi Network’s long history of delays and criticisms, particularly regarding its slow Know-Your-Customer (KYC) process and lack of transparent communication. Pi Network Faces Growing Credibility Concerns Skepticism around Pi Network isn’t new. Earlier this week, ByBit CEO flatly rejected calls to list the PI coin, calling it ‘the last thing he wants to deal with’. Many in the crypto space argue that if Pi Network were truly ready for its Mainnet debut, top-tier exchanges would be lining up to list it—yet interest from major platforms remains lukewarm at best. Market Impact: PI (IOU) Price Drops After Initial Surge Following the announcement of Pi Network’s Open Network launch, the PI (IOU) price soared past $93 on February 12. However, as concerns over the project’s credibility grew, PI quickly tumbled to $61.28, wiping out double-digit gains. Pi Network has yet to address OKX’s claim that the listing restrictions came directly from them, leaving investors and miners in limbo just days before the anticipated launch. With the Mainnet debut looming, questions remain: Can Pi Network overcome the mounting skepticism, or will this latest controversy further erode confidence in the project?

Gold’s Struggles Ignite Debate: Is Bitcoin the New Safe Haven?

Casey2 months ago2 months ago04 mins

For centuries, gold has been the go-to asset during economic uncertainty, offering investors a sense of security against inflation and market volatility. However, recent turmoil in the gold market has sparked concerns, leading many to reconsider Bitcoin (BTC) as an alternative store of value. With delayed gold deliveries and rising doubts over the system’s efficiency, the question arises: Is Bitcoin becoming the new gold? Gold Market Under Pressure: Delays & Distrust The Bank of England, one of the world’s primary gold custodians, is at the center of growing concerns. Gold deliveries that once took a few days are now taking up to eight weeks, raising red flags about potential liquidity issues. According to Jeff Park, an expert at Bitwise Asset Management, this could lead to a significant capital shift from gold to crypto as investors seek more efficient alternatives. At the heart of the issue is a surge in transatlantic gold shipments and an increase in stockpiling in the U.S. Comex exchange, which saw its reserves jump from 533 tons to 926 tons in a matter of months. With many investors struggling to take physical possession of their gold, doubts are growing over whether this historical safe-haven asset is still as secure as it once seemed. Bitcoin: A More Reliable Alternative? While gold faces logistical constraints, Bitcoin offers a decentralized, easily transferable, and tamper-proof alternative. Unlike gold, Bitcoin: Doesn’t rely on physical storage – No delays, no vaults, no intermediaries. Is fully verifiable – Transactions are recorded transparently on the blockchain. Cannot be manipulated by institutions – No risk of delivery shortages or stockpiling issues. Park pointed out the irony of the situation in a February 12, 2025, post on X (formerly Twitter):“Gold is now trapped in supply chain constraints, while Bitcoin remains the most accessible and liquid asset in the world.” He also cited past commodity market scandals, such as the London Metal Exchange’s nickel fraud and the Trafigura scandal, which saw $500 million worth of fuel vanish. These events highlight the vulnerabilities of physical assets and reinforce Bitcoin’s role as a more transparent and modern alternative. A Shift from Gold to Bitcoin? With investor confidence in gold shaken, Bitcoin is becoming an increasingly credible alternative. While regulatory hurdles remain a challenge for institutional adoption, the idea of Bitcoin surpassing gold as the primary safe-haven asset is no longer far-fetched. If the gold market continues to face inefficiencies, we may see a historic shift in global investment strategies, with Bitcoin emerging as the new financial safe harbor in an increasingly digital world.

GameStop Considers Bitcoin Investment, Stock Jumps Over 11%

Casey2 months ago2 months ago03 mins

GameStop (GME) is reportedly exploring investments in Bitcoin (BTC) and other cryptocurrencies, marking a potential shift toward alternative assets. According to a CNBC report citing three sources, the video game retailer is evaluating ways to diversify its holdings, possibly following in the footsteps of companies like MicroStrategy (now Strategy), which holds over 400,000 BTC in its corporate treasury. Why Bitcoin? The speculation gained traction after GameStop CEO Ryan Cohen shared a photo of himself with Michael Saylor, Executive Chairman of Strategy, a known Bitcoin advocate. While there’s no official confirmation from GameStop regarding its crypto investment plans, the company has a strong financial position, with $4.6 billion in cash reserves and total liabilities under $1.5 billion. This gives it the flexibility to allocate capital toward alternative assets like Bitcoin. Market Reaction: GME and Bitcoin Surge GameStop’s Crypto History & What Comes Next This wouldn’t be GameStop’s first foray into the crypto space. The company previously launched crypto wallets and an NFT marketplace in 2022 but later scaled back those efforts due to regulatory uncertainties. If GameStop proceeds with a Bitcoin investment, it could signal a renewed commitment to digital assets—possibly as a hedge against inflation or as a strategic move to modernize its financial portfolio. For now, investors are watching closely to see if GameStop follows through with its crypto ambitions or if this remains another speculative rumor in the ever-evolving world of corporate Bitcoin adoption.

WazirX Completes Asset Rebalancing, Seeks User Approval for Token Distribution

Casey2 months ago2 months ago03 mins

Crypto exchange WazirX has taken a major step toward recovering from last year’s devastating security breach by completing its asset rebalancing process. The breach, which occurred on July 18, 2024, led to losses exceeding $230 million, shaking investor confidence. Now, WazirX is turning to its users for approval of a distribution scheme aimed at compensating affected investors. What’s Next for WazirX Users? WazirX has proposed a redistribution plan that would return approximately 85% of user balances, calculated based on values from the day of the breach. However, for this to move forward, a majority of users must vote in favor of the scheme. If approved, the distribution will be made in the form of tokens, marking a crucial step in restoring trust and stability. A Long-Term Recovery Plan Beyond this initial distribution, WazirX has outlined a three-year recovery strategy to continue compensating affected users. This will be funded by: To assist with this effort, WazirX has partnered with leading blockchain forensics firm zeroShadow, which specializes in tracking stolen assets. So far, the exchange has managed to freeze approximately $3 million in stolen funds, signaling progress in its efforts to reclaim lost assets. WazirX’s Commitment to Users Speaking about the developments, WazirX founder Nischal Shetty emphasized the company’s dedication to its users.“Completing the rebalancing process and preparing for distribution demonstrates our deep commitment to protecting creditor interests and restoring the trust placed in the platform. By targeting one of the fastest distribution timelines in the crypto industry, we hope to set a precedent for accountability, efficiency, and resilience in times of crisis,” he stated. Final Thoughts While this marks a significant milestone in WazirX’s recovery journey, the ultimate outcome depends on user participation in the voting process. If approved, the distribution scheme could serve as an important precedent for how crypto exchanges handle security breaches and user compensation. For now, all eyes are on WazirX users, as their decision will determine the next chapter in the exchange’s recovery efforts.

XRP Gearing Up for Major Breakout as ETF Approval Odds Increase

Casey3 months ago3 months ago04 mins

XRP is positioning itself for a massive price surge, with growing demand from whale investors and increasing speculation about a spot XRP ETF approval in the U.S. The Cboe Exchange recently filed multiple 19b-4 applications with the U.S. SEC, signaling that the first XRP ETF could be on the horizon. XRP’s Price Action: Bullish Momentum Ahead? Despite a 4% dip in the past 24 hours, XRP is still showing strong bullish patterns, suggesting a potential breakout past $4 in the near future. The token, currently trading around $2.36, has been forming a rising bullish flag, a key indicator that a larger rally is imminent. Whale investors remain confident—data from Santiment shows that accounts holding 100 million to 1 billion XRP have accumulated 520 million coins during the recent market correction.XRP’s correlation with Bitcoin remains high, meaning a Bitcoin rally could further boost XRP’s momentum.Market analysts expect XRP to thrive in the 2025 bull run, fueled by both technical patterns and fundamental growth. XRP Ledger & Institutional Demand on the Rise The XRP Ledger (XRPL) is evolving into a leading Web3 platform, supporting scalable and interoperable DeFi applications. Institutional demand for XRP is growing, especially with the rise of Ripple USD (RLSD)—a stablecoin that has now reached a $108 million market cap and is being actively used on platforms like Revolut. Spot XRP ETF: A Game Changer? Following the approval of Bitcoin and Ethereum ETFs, XRP could be the next altcoin to enter the ETF space. The Cboe Exchange has filed the necessary 19b-4 applications for Bitwise Investments, Canary Capital, WisdomTree, and 21Shares.The U.S. SEC now has 240 days to make a decision on these applications.The pro-crypto stance of the Trump administration raises expectations that a spot XRP ETF could gain approval sooner rather than later. What’s Next for XRP? With institutional interest surging, whale accumulation rising, and ETF speculation heating up, XRP could be on the brink of a major rally. Will XRP finally break past its all-time high? If ETF approvals move forward and institutional adoption continues, this might just be the moment XRP holders have been waiting for.

South Korea’s Crypto Exchange Market Shrinks as Regulatory Hurdles Take a Toll

Casey3 months ago3 months ago03 mins

South Korea’s cryptocurrency exchange market is seeing a significant decline, with the number of registered virtual asset service providers (VASPs) dropping by 26% in just one year. According to a Feb. 7 report from the Financial Intelligence Unit (FIU), only 31 exchanges remain operational, down from 42 in 2024. Why Are Crypto Exchanges Shutting Down? The FIU report highlights several key challenges that have made it difficult for smaller exchanges to survive: Lack of fiat trading support – Many delisted platforms were token-only exchanges without access to real-name bank accounts, making it hard to attract users and process transactions in Korean won or U.S. dollars. Regulatory uncertainty – Changing regulations and compliance challenges forced some exchanges to shut down, while others failed to renew their business registrations in time. Financial struggles – The report states that over 90% of token-only exchanges were in a state of complete capital erosion last year, making it impossible to continue operations. Exchanges like Qubit and Coinbit eventually shut down due to financial instability. Major Exchanges That Have Exited Some well-known exchanges that have exited the South Korean market include: GDACProBitHuobi KoreaBitrade These closures indicate a growing trend of smaller exchanges struggling to keep up with South Korea’s evolving regulatory environment. More Exits Expected? The FIU report warns that the number of crypto exchanges in South Korea could drop even further. Several platforms still in operation have announced plans to exit, while others are shifting their focus to overseas markets to escape the uncertain regulatory climate. What’s Next for South Korea’s Crypto Industry? With stricter regulations and banking challenges, only larger, well-regulated exchanges may survive in South Korea’s crypto space. While authorities work on new policies to stabilize the industry, many smaller players are left with no choice but to shut down or relocate. Will South Korea’s strict regulations drive crypto businesses away, or will they bring more stability to the industry? The coming months will be crucial in shaping the future of crypto exchanges in the country.