Bitcoin

Pi Network Finally Goes Live: Could This Be Crypto’s Next Big Thing?

Casey2 months ago2 months ago03 mins

After years of waiting, Pi Network is officially launching its Open Mainnet today, February 20, 2025, at 08:00 AM UTC. This marks the end of its Enclosed Mainnet phase, which began in December 2021, and opens the doors for external trading of Pi Coin on major exchanges. For millions of Pi users worldwide, this is a major milestone—one that could reshape the future of this ambitious blockchain project. Pi Coin Listings: Major Exchanges Onboard Several big crypto exchanges have confirmed that they will list Pi Coin at launch, including: ✅ OKX✅ Bitget✅ Bitrue✅ HTX✅ BitMart To celebrate, Bitget is giving away $60,000 worth of Pi in an airdrop event running until March 3, 2025. Meanwhile, BitMart is offering a $3,000 USDT Pi giveaway to 300 lucky winners. Pi Network’s Explosive Growth The excitement surrounding Pi Network has led to record-breaking growth in user adoption: 🔹 110 million+ total app downloads 🔹 110,000 new downloads every day 🔹 540,000 new users joined on February 17 alone! The app is now ranked #4 in the Social category on Google Play Store, right behind Facebook and Instagram—an impressive feat for a blockchain project. Pi Network Outpaces Ethereum and BNB Chain on Social Media Not only is Pi Network attracting millions of users, but it’s also dominating crypto social media rankings. According to crypto analyst Kim H Wong, Pi Network has surpassed Ethereum and BNB Chain in follower count—something few would have predicted just a few years ago. What’s Next for Pi Network? Now that Pi Coin can finally be traded, all eyes are on its price movements, adoption, and future utility. The big question remains:

Bitcoin Faces ‘Price Suppression’ Concerns as ‘Death Cross’ Signals Market Turmoil

Casey2 months ago2 months ago03 mins

Bitcoin’s price has been stuck under $100,000, even after briefly crossing the milestone following Donald Trump’s election victory. While some analysts believe this is just market consolidation, others—like Samson Mow, CEO of Jan3—are warning that something deeper might be at play. Speaking at Consensus Hong Kong, Mow suggested that Bitcoin’s sideways price action looks manufactured, raising concerns about price suppression in the market. “If you look at the price movement, we peak, and then we stay steady and chop sideways. It looks very manufactured.” ‘Death Cross’ and Investor Fear Grow Adding to the worries, Bitcoin is nearing a ‘Death Cross’, a bearish technical pattern where a shorter-term trend line crosses below a longer-term one, often signaling a potential crash. Meanwhile, market sentiment is shifting:🔹 The Crypto Fear & Greed Index has moved into “Fear” territory, reflecting growing caution among investors.🔹 U.S. Bitcoin ETFs recorded their first net outflows since their explosive debut in January 2024.🔹 Abu Dhabi’s $1T sovereign wealth fund purchased $436M in BlackRock’s Bitcoin ETF, fueling speculation about global adoption. Bitcoin ETFs and Institutional Moves Despite concerns, institutional interest in Bitcoin ETFs remains strong. BlackRock’s iShares Bitcoin Trust (IBIT) alone holds nearly 600,000 BTC, with total U.S. Bitcoin ETF assets surpassing $100 billion in November 2024. However, recent outflows suggest that some investors are locking in profits or hedging against potential downside risk. Analysts warn that, at current price levels, the market has yet to attract counter-trend traders or sell-off hunters, meaning a bigger move could be ahead. What’s Next for Bitcoin? Bitcoin is at a crossroads—it could either break out past $100K, fueled by continued institutional interest, or face a sharp correction if bearish patterns play out.

Hong Kong Grants Bullish a Crypto License as Consensus 2025 Takes Center Stage

Casey2 months ago2 months ago04 mins

Hong Kong has officially granted a crypto exchange license to Bullish, making it one of the 10 licensed platforms operating in the city. This approval highlights Hong Kong’s commitment to building a regulated digital asset market, reinforcing its reputation as a major crypto and fintech hub. Bullish Expands in Hong Kong with Institutional Focus Bullish, a fast-growing crypto trading platform, sees Hong Kong as a key business hub. Michael Lau, Bullish’s Senior VP and Head of Global Sales, emphasized the importance of the city in the company’s expansion strategy. With over 100 employees in Hong Kong, Bullish plans to focus primarily on institutional clients, helping large-scale investors navigate the crypto space with confidence. Consensus 2025 Debuts in Hong Kong for the First Time The timing of Bullish’s approval is significant, as Consensus 2025, the world’s leading crypto conference, is being hosted in Hong Kong for the first time outside the U.S. The event, taking place at the Hong Kong Convention and Exhibition Centre from February 19-20, is expected to attract around 8,000 attendees from across the crypto and fintech industries. Michael Lau, the chairman of Consensus Hong Kong, explained the strategic decision to bring the event to Asia: “Hong Kong’s strong connection between traditional finance and digital assets made it the perfect choice for Consensus 2025.” The event comes shortly after Bullish’s acquisition of CoinDesk, a major crypto media and events platform, which plays a big role in organizing the Consensus conference. Hong Kong’s Push for Crypto Regulation & Stablecoin Oversight Hong Kong has been actively strengthening its crypto regulations to attract global investors while ensuring market stability. 🔹 Hong Kong’s Securities and Futures Commission (SFC) has now approved 10 crypto exchanges, with eight more platforms waiting for approval.🔹 The city is also working on stablecoin regulations, which will be overseen by the Hong Kong Monetary Authority to ensure safety and transparency in the market. SFC Executive Director Yip Chi Hang reaffirmed that while new licenses will be granted, only firms meeting strict compliance standards will be approved. Final Thoughts With Bullish securing a license, Consensus 2025 drawing thousands of industry leaders, and stablecoin regulations in development, Hong Kong continues to position itself as a major player in the global crypto economy.

Hong Kong Strengthens Its Position as a Regional Crypto Hub

Casey2 months ago2 months ago04 mins

Hong Kong is doubling down on its ambition to become a leading crypto and Web3 hub, with Financial Secretary Paul Chan Mo-po reaffirming the city’s commitment to an open and vibrant digital asset market. Speaking at Consensus 2025, Mo-po emphasized that Hong Kong will remain a stable and innovation-driven market for crypto, ensuring sustainable growth through investment in infrastructure and talent development. Building a Thriving Web3 Ecosystem Hong Kong has been working hard to attract blockchain firms and foster a dynamic Web3 ecosystem. Mo-po highlighted that the government is investing heavily in Web3 infrastructure, fintech, and education. “Our Cyberport and Science Park have become key hubs for Web3 innovation, while universities and industry partnerships are nurturing a new generation of blockchain experts,” Mo-po stated. As a result, Hong Kong’s Cyberport Web3 network now hosts over 270 blockchain firms, with more than 120 added in the past 17 months. Crypto-Friendly Regulations to Attract Investors To attract hedge funds, private equity firms, and family offices, Hong Kong has introduced tax exemptions on crypto gains and is developing a regulatory framework that balances innovation with investor protection. Despite a strict licensing regime, the Securities and Futures Commission (SFC) has issued nine crypto licenses since mid-2024, with PantherTrade and YAX receiving approvals in January 2025. Mo-po stressed that fair and forward-looking regulations will be key to maintaining Hong Kong’s position as a financial innovation hub. “Success lies in an open, balanced, and transparent regulatory approach that fosters sustainable and responsible development,” he explained. AI & Blockchain: The Next Big Innovation Looking ahead, Mo-po sees the convergence of AI and blockchain as a major opportunity. “AI is evolving rapidly and becoming a crucial part of financial services. Its integration with blockchain will unlock new use cases, bringing both opportunities and challenges,” he said. Hong Kong has already taken steps toward AI adoption, with the Financial Services and Treasury Bureau introducing a dual-track AI policy in October 2024. The government and financial regulators are working with industry leaders to monitor technology trends and create a clear AI regulatory framework. Final Thoughts With strong government backing, strategic investments, and a commitment to balanced regulation, Hong Kong is shaping up to be a major force in crypto and Web3 innovation.

Bitget CEO Gracy Chen on Bitcoin’s Next Big Catalyst

Casey2 months ago2 months ago03 mins

Bitcoin has been struggling to gain momentum, but Bitget CEO Gracy Chen believes a major game-changer could be on the horizon. In a conversation with Bloomberg, she shared her thoughts on what might spark the next big rally for BTC—and why some widely expected events, like the 2024 halving, weren’t real catalysts. Could the U.S. Include Bitcoin in Its Strategic Reserve? One of the biggest potential developments, according to Chen, is the stance of the new U.S. administration under President Donald Trump. She revealed that discussions are taking place about whether Bitcoin could be included in the U.S. strategic reserve, but nothing has been decided yet. She cautioned investors not to get ahead of themselves, saying: “I didn’t expect Bitcoin’s inclusion in the strategic reserve to become concrete in the first half of 2025—or even throughout the year.” This means that while the idea is being debated, it might take much longer before any real action is taken. Why the 2024 Halving Wasn’t a Game-Changer Chen also addressed the 2024 Bitcoin halving, which many had hoped would trigger a price surge. However, she dismissed it as a non-factor, stating: “The halving was not a catalyst because it was already priced in.” Instead, she believes that unexpected macroeconomic events—rather than predictable milestones—are the real driving forces behind major price moves. What’s Next for Bitcoin? For now, Bitcoin’s price action remains uncertain, but Chen’s insights suggest that the next true catalyst may come from unforeseen developments in global finance or regulation.

Solana Faces Sharp Decline as Investors Lose Confidence Amid Memecoin Scandals

Casey2 months ago2 months ago03 mins

Solana (SOL) is facing a wave of investor distrust as traders increasingly bet against the cryptocurrency. A series of memecoin-related scandals have shaken confidence in the network, leading to a surge in short positions and a sharp drop in investor sentiment. Traders Turn Bearish on Solana On February 17, Solana’s long-to-short ratio took a nosedive, dropping from 4 to 2.5, according to data from Coinalyze. This drastic shift indicates that investors are now overwhelmingly betting on Solana’s price falling rather than rising. The growing short positions reflect widespread uncertainty about the network’s stability, largely due to high-profile failures within its memecoin ecosystem. Memecoin Scandals Rock Solana’s Reputation Once hailed as a thriving hub for memecoins, Solana is now facing serious reputational damage after a string of financial disasters: 🔻 LIBRA Token Collapse (Feb 14) – The token lost $4.4 billion in market value within hours, sparking controversy involving Argentine President Javier Milei, who is now under investigation for misleading promotion. 🔻 Official Trump (TRUMP) Memecoin Crash – Investors suffered $2 billion in losses, with 800,000 wallets impacted. The token’s fully diluted value plunged from $70 billion to $17 billion, with 80% of tokens controlled by insiders. Just months ago, memecoins like Bonk (BONK) and Dogwifhat (WIF) had driven huge gains for Solana, helping the blockchain generate more revenue than Ethereum in terms of total value locked. However, these recent setbacks cast doubt on the long-term sustainability of the memecoin ecosystem. What’s Next for Solana? The big question now is: Can Solana recover from this crisis? While Solana still boasts a strong technical foundation, the repeated scandals in its memecoin space have shaken investor confidence. If this trend continues, it could significantly impact the blockchain’s future growth and adoption.

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.