Author: Kryptonews

Publicly listed companies that hold Solana as a treasury asset are sitting on more than $1.5 billion in unrealized losses, based on disclosed acquisition costs and current market prices tracked by CoinGecko.The losses are concentrated among a small group of United States-listed companies that collectively control over 12 million Solana (SOL) tokens, about 2% of the total supply. While losses remain unrealized, equity markets have already repriced the companies, with most trading well below the market value of their tokens. CoinGecko data shows that Forward Industries, Sharps Technology, DeFi Development Corp and Upexi account for over $1.4 billion in disclosed unrealized…

Ethereum price fell 13% over the past week, charting a bearish crossover that hints at more downside ahead. At the same time, exchange reserves have fallen to 10-year lows. Summary Ethereum price has fallen nearly 46% from its yearly high. Bearish chart structures, including a descending channel and a multi-year head and shoulders pattern, continue to cap upside. According to data from crypto.news, Ethereum (ETH) price fell nearly 46% to around $1,800 on Feb. 6 from its highest point this year. This came as the broader crypto market lost over a trillion in value, with multiple macroeconomic and geopolitical concerns…

The crypto-based prediction market Polymarket is going to battle against the state of Massachusetts. Polymarket’s chief legal officer, Neal Kumar, says the firm has filed a federal lawsuit against the state, highlighting jurisdictional questions about event contracts. “Congress gave the CFTC, not states, exclusive authority over event contracts. These are national markets with critical questions that must be resolved in federal court.  Racing to state court to try to shut down Polymarket US and other prediction markets doesn’t change federal law — and states like MA and NV that have done so will miss an amazing opportunity to help build…

A long-running dispute over a collection of roughly 1,800 paintings attributed to Russian modernist masters has escalated after a litigation funder said it may have been misled about the works’ authenticity. The development has added a new layer of tension to a case already entangled in competing ownership claims, criminal investigations, and multimillion-dollar lawsuits across several countries.The controversy centers on the late Palestinian collector Uthman Khatib, his son Castro Ben Leon Lawrence Jayyusi, and their Prague-based litigation funder, LitFin. Beginning in 2023, LitFin backed lawsuits brought by the Khatibs against Israeli-Russian businessman Mozes Frisch, whom they accuse of stealing all…

A dual national of China and St. Kitts and Nevis was sentenced to 20 years in US federal prison for orchestrating a global cryptocurrency scam that stole more than $73 million from victims, many of them American investors.Daren Li, 42, received the statutory maximum sentence in the Central District of California, along with three years of supervised release, according to a statement issued Tuesday by the US Department of Justice (DOJ).Prosecutors said Li and at least eight co-conspirators established spoofed domains and websites resembling legitimate trading platforms to promote fraudulent crypto investments after gaining victims’ trust, a scheme known as…

About a week ago, bitcoin BTC$69,041.32 dropped more than 10% in a day to around $60,000 before rebounding to $70,000 in recent days. The question is, did the slide mark “capitulation,” when holders panic-sell at a loss, exhaust bearish pressure and set the stage for a new bull run? The futures market says no, suggesting there’s scope for another leg lower, according to Amberdata’s director of derivatives, Greg Magadini.”[The] lack of ‘reaction’ in the futures basis doesn’t make me confident we hit a true CAPITULATION moment,” Magadini said in a market note Monday.Magadini is referring to how futures typically trade…

Gemini’s decision to exit the United Kingdom, European Union, and Australia to focus on the United States and Singapore has sharpened questions over whether the UK’s still unfinished rulebook is deterring even well‑regulated players the government hoped to attract. In April 2022, then Chancellor Rishi Sunak said it was his “ambition to make the UK a global hub for cryptoasset technology,” unveiling Treasury measures, such as stablecoin regulation, and launching a Financial Conduct Authority (FCA) “CryptoSprint” to help firms invest in the country.However, in Gemini’s latest strategy update on Feb. 5, the exchange said many foreign markets were “hard to win,”…

The Open Network Foundation has launched TON Pay, a new payments software development kit (SDK) designed to make cryptocurrencies usable for everyday consumer transactions within the Telegram ecosystem. In a Monday release shared with Cointelegraph, the product is positioned as a simple, wallet-agnostic payment layer that allows merchants and Mini App developers to accept crypto directly through Telegram, aiming to turn the app into a hub for seamless blockchain-based commerce.According to the TON Foundation, TON Pay provides developers with a single software kit that integrates with Telegram Mini Apps, removing much of the friction associated with managing wallet infrastructure, settlement, and…

Ethereum co-founder Vitalik Buterin has once again nudged the crypto community toward long-term thinking, using a post on X to revisit the relationship between Ethereum, artificial intelligence, and the pursuit of more ambitious technological goals. Summary Vitalik Buterin reignited discussion around Ethereum and artificial intelligence after referencing past work on Ethereum–AI convergence in a recent X post. Buterin outlined four key intersection areas, including trustless and private AI interactions, Ethereum as an economic layer for AI-to-AI transactions, and AI-assisted onchain verification. The comments signal Buterin’s continued focus on long-term technological impact, positioning Ethereum beyond finance and into next-generation computing infrastructure.…

US spot Bitcoin exchange-traded funds (ETFs) extended a tentative rebound after attracting $371 million in net inflows last Friday, adding to signs that institutional demand may be stabilizing following weeks of sustained selling.Spot Bitcoin (BTC) ETFs attracted a further $145 million in inflows on Monday as BTC hovered around $70,000, according to data from SoSoValue and CoinGecko.The inflows have yet to offset last week’s $318 million of outflows and $1.9 billion in redemptions year-to-date, but the slowing pace of losses may point to a potential trend reversal for crypto investment products, according to CoinShares.“Outflows slowed sharply to $187 million despite…