Quick Summary: CoinDCX co-founders Sumit Gupta and Neeraj Khandelwal face arrest allegations in India over a crypto fraud case linked to a fake version of their platform. CoinDCX co-founders Sumit Gupta and Neeraj Khandelwal have reportedly been arrested by Thane Police in India on allegations of criminal breach of trust. The Economic Times reported the development on Saturday, citing local officials. However, other outlets, including Entrackr, suggested the founders were summoned for questioning rather than formally arrested.The case centers on a website that allegedly impersonated the CoinDCX platform and defrauded at least one investor. A first information report was filed…
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Quick Summary: Influencer Hailey Welch says the collapse of the HAWK memecoin she promoted left her traumatized, though onchain sleuth ZachXBT rejects sympathy for her. Hailey Welch, the social media influencer widely known as the ‘Hawk Tuah girl,’ says the collapse of the HAWK memecoin she promoted in 2024 and the public backlash that followed left her traumatized. Speaking to Andrew Callaghan of the Channel 5 YouTube channel, Welch acknowledged she was persuaded to lend her name to a project she did not fully understand. ‘You’ve got to be really careful what you put your name on,’ she said during…
Quick Summary: XRP dropped roughly 2.6% to around $1.41 after breaking below the $1.44 support level on unusually high selling volume. XRP declined approximately 2.6 percent during a late trading session, settling near $1.41 after slipping beneath the $1.44 support threshold. The move was accompanied by selling volume that exceeded the daily average by more than three times, signaling notable bearish pressure. The sharp drop has drawn attention from traders monitoring the token’s near-term trajectory.The decline is part of a broader downtrend that has characterized XRP’s price action since mid-2025. The pattern has been defined by a series of lower…
Quick Summary: Bitcoin erased last week’s gains, falling to $69,000 after President Trump threatened strikes on Iran’s power plants if the Strait of Hormuz is not reopened. Bitcoin reversed its recent gains, sliding to approximately $69,000 after President Donald Trump issued a 48-hour ultimatum to Iran, demanding the country reopen the Strait of Hormuz or face military strikes on its power plants. The threat introduced a sharp wave of uncertainty into financial markets, with the crypto sector among the hardest hit. The move erased the gains accumulated during the previous week’s rally.The prospect of attacks on civilian energy infrastructure rattled…
Quick Summary: Bitcoin miners are losing money with production costs near $88,000 per coin against a market price of around $69,200, driven by surging energy prices. Bitcoin miners are currently operating at significant losses, with the average cost to produce a single coin sitting at approximately $88,000 while the market price hovers near $69,200. The gap between production costs and market value is placing intense financial pressure on mining operations worldwide. Rising energy prices and disruptions linked to geopolitical conflict are identified as the primary drivers of this squeeze on margins.Tensions in the Middle East are playing a central role…
Quick Summary: An exploit on Resolv Labs’ USR stablecoin allowed an attacker to mint 80 million unbacked tokens, extracting roughly $25 million and crashing the token’s value. Resolv Labs confirmed on Sunday that its stablecoin USR had lost its dollar peg following an exploit that allowed an attacker to create tens of millions of unbacked tokens. The project announced on X that the attacker minted 50 million USR without proper backing, prompting the team to pause all protocol functions to prevent further damage. Resolv Labs stated it is actively working on recovery measures in the wake of the incident.Crypto security…
Quick Summary: A Nevada judge has issued a 14-day restraining order blocking prediction market platform Kalshi from operating in the state over unlicensed gambling concerns. A Nevada district court judge has temporarily barred prediction market platform Kalshi from conducting business in the state, ruling that state regulators are reasonably likely to succeed in their legal challenge against the company. Carson City District Court Judge Jason Woodbury issued the temporary restraining order on Friday, granting a motion brought by the Nevada Gaming Control Board to halt Kalshi’s operations for 14 days. The order specifically prohibits Kalshi from offering sports, election, and…
Quick Summary: The CFTC has issued new guidance detailing how crypto assets can be used as collateral in derivatives markets under a pilot program launched last year. The US Commodity Futures Trading Commission has released additional guidance outlining its expectations for the use of cryptocurrency as collateral in derivatives markets. The clarification came through a notice published Friday by the agency’s Market Participants Division and Division of Clearing and Risk. The notice responded to frequently asked questions that arose following two staff letters issued in December, which established the framework for the pilot program.Futures commission merchants wishing to participate in…
Quick Summary: Brazil’s Finance Minister is postponing a crypto tax policy consultation until at least 2027 to avoid divisive changes during an election year. Brazil’s Finance Minister, Dario Durigan, has decided to shelve a planned public consultation on cryptocurrency tax policy until after the country’s presidential elections in October 2026. The move is intended to avoid pushing through changes that could prove divisive during an election cycle. Sources familiar with the matter told Reuters that while the consultation may not take place until 2027, it still remains on the government’s agenda.The postponement follows a significant shift in Brazil’s approach to…
Quick Summary: Bitcoin’s put/call open interest ratio has hit its highest level since June 2021, with put premiums reaching an all-time high relative to spot volume. Bitcoin traders are currently paying record amounts to hedge against potential price declines, according to recent options market data. The put/call open interest ratio has climbed to 0.84, the highest reading recorded since June 2021. At the same time, put premiums have reached an all-time high when measured against spot volume, signaling a notably defensive posture among market participants.This shift toward protective positioning comes even as spot prices have shown signs of stabilization. Rather…
