Author: Ethan Carter
Ethan is a seasoned cryptocurrency writer with extensive experience contributing to leading U.S.-based blockchain and fintech publications. His work blends in-depth market analysis with accessible explanations, making complex crypto topics understandable for a broad audience. Over the years, he has covered Bitcoin, Ethereum, DeFi, NFTs, and emerging blockchain trends, always with a focus on accuracy and insight. Ethan's articles have appeared on major crypto portals, where his expertise in market trends and investment strategies has earned him a loyal readership.
The FTX Recovery Trust, which manages the distribution of funds from the collapsed crypto exchange, announced a third distribution to creditors amounting to approximately $1.6 billion.As per a Friday announcement, the distribution is set for Sept. 30, with funds reaching creditors’ accounts within three business days post-payment.This third distribution encompasses a 6% payout for Dotcom Customer claims, 40% for US Customer Entitlement Claims, and 24% for General Unsecured Claims and Digital Asset Loan Claims. Convenience claims will receive a 120% reimbursement as part of September’s distribution.Source: Sunil KavuriFTX’s Recovery Trust began repaying creditors in February with a $1.2 billion distribution,…
On Thursday, the US Department of the Treasury initiated a second phase of public commentary regarding the implementation of the GENIUS Act, a law designed to regulate stablecoin transactions in the US, which was signed by former President Donald Trump.The Treasury indicated in a Thursday announcement that while the advance notice of proposed rulemaking is not mandatory for the GENIUS Act, it seeks public input on the stablecoin legislation to enhance its efforts.Public comments were initially opened in August, allowing until Oct. 17 for feedback regarding any illicit activities. The recent notice extends the comment period by 31 days.“The Treasury…
The trading of the MYX token, the cryptocurrency linked to the MYX decentralized exchange (DEX), exhibited signs of market manipulation, as reported by AI infrastructure firm Rena Labs in collaboration with market intelligence provider Insider.Cash.Analyzing over 9,200 data points minute-by-minute from Sept. 9 through Monday, the report identified 249 anomalies related to illiquidity, volume surges, price ratios, and trading intensity.On Sept. 9, liquidity anomalies for MYX on the Gate exchange soared by 433%, with 32 illiquidity events recorded over Sunday and Monday. This surge indicates potential market manipulation or the withdrawal of market makers, who are essential for maintaining liquidity…
Sure! Here’s the rewritten content while keeping the HTML tags intact: Grayscale has launched a new multi-asset crypto ETP on NYSE Arca, presenting a fund that tracks five leading cryptocurrencies. This initiative offers an innovative way to achieve diversified exposure within the digital asset landscape. Summary Grayscale introduced the first-ever U.S. multi-asset crypto ETF, listed on NYSE Arca. The ETF monitors Bitcoin, Ether, XRP, Solana, and Cardano, encompassing over 90% of the crypto market capitalization. This product transitions from over-the-counter trading to being exchange-traded, enhancing both liquidity and access. As stated in a September 19 press release, the Grayscale CoinDesk…
Key takeaways:Heightened onchain Ethereum activity and treasury growth bolster Ether’s strength, despite exit pressures from the validator queue.The expansion of spot Ether ETFs and dwindling exchange reserves strengthen the bullish perspective, setting ETH up for a possible breakout.Ether (ETH) struggled to maintain bullish traction after a brief rise above $4,700 on Saturday. Traders have grown more risk-averse as Ethereum’s unstaking queue surged to $12 billion. Nevertheless, increased network usage and ETH’s emerging role as a corporate reserve asset could ignite a breakout above $5,000.Blockchains ranked by 7-day fees, USD. Source: NansenFees on the Ethereum network soared by 35% compared to…
Essential insights:Strong Ethereum on-chain activity and treasury growth contribute to Ether’s resilience despite pressure from validator queue exits.The rise of spot Ether ETFs and decreasing exchange balances bolster a positive outlook, setting ETH up for a potential breakout.Ether (ETH) has struggled to maintain bullish momentum after a brief rise above $4,700 on Saturday. Traders are increasingly cautious as Ethereum’s unstaking queue reached $12 billion. However, heightened network activity and the increasing role of ETH as a corporate reserve asset may ignite a breakout above the $5,000 threshold.Blockchains ranked by 7-day fees, USD. Source: NansenFees on the Ethereum network surged by…
Highlights: Bitcoin encountered strong resistance at $117,500, suggesting that the bears are not backing down easily. Multiple major altcoins attempted to surpass their resistance levels, yet the bears maintained their position, indicating ongoing selling on rallies. Bitcoin (BTC) continues to confront notable resistance near $117,500, but a positive indicator is that the bulls are sustaining their pressure. This implies that buyers are not hastily exiting, as they foresee a potential move towards the all-time high of $124,474. BTC analyst Axel Adler Jr. mentioned in a post on X that the current market conditions are “neither overheated nor oversold.” This may…
This week, the Royal Government of Bhutan moved over $100 million in Bitcoin, raising worries about possible market sell pressure, coinciding with the US Federal Reserve’s first interest rate cut of 2025.A wallet associated with the Bhutan government transferred 913 Bitcoin (BTC), valued at approximately $107 million, into two newly established cryptocurrency wallets on Thursday.The original wallet retains 9,652 Bitcoin worth more than $1.1 billion, according to data from the blockchain platform Lookonchain.These transfers may suggest that Bhutan is considering selling a portion of its assets. Should the government decide to liquidate its entire reserve, it could inject over $1…
Trading of the MYX token, the cryptocurrency for the MYX decentralized exchange (DEX), has shown signs of market manipulation, as outlined in a report from AI infrastructure company Rena Labs and market intelligence firm Insider.Cash.The report examined over 9,200 minute-by-minute data entries from Sept. 9 to Monday, revealing 249 anomalies related to illiquidity, volume spikes, price ratios, and trade intensity.The analysis indicated that MYX liquidity anomalies on the Gate exchange surged by 433% on Sept. 9, with 32 illiquidity events recorded on Sunday and Monday, suggesting either deliberate market manipulation or the withdrawal of market makers, who typically provide liquidity…