Pro-XRP attorney John Deaton is steadfastly fulfilling his promise to support Coinbase users amid their legal challenges with the U.S. Securities and Exchange Commission (SEC).
On April 19, Deaton filed a motion in the Southern District of New York’s District Court to act as amicus counsel for 4,701 Coinbase customers in a lawsuit that began in June 2023.
In his filing, Deaton confirmed, “I am admitted or otherwise authorized to practice in this court and I appear in this case as counsel for 4,701 Coinbase Customers.”
Deaton’s involvement is driven by a desire to advocate for the average person’s right to financial growth, as he expressed in an April 18 podcast with Fox Business reporter Eleanor Terrett.
“This isn’t about crypto, this is about freedom.
“This is about upward mobility, this is about people who want a fighting chance, people who want to build a little wealth.
“They are not looking to get rich, they’re not crypto bros,” Deaton stated.
The move to represent Coinbase users comes shortly after Coinbase lodged an interlocutory appeal following a denied motion to dismiss the SEC lawsuit.
The appeal hinges on the question of whether an investment contract necessarily involves a contractual agreement, a point highlighted by Coinbase’s Chief Legal Officer Paul Grewal.
Deaton’s efforts to support the cryptocurrency community are well-documented through several amicus counsel applications in significant legal battles.
Notably, he appeared as a friend of the court for over 6,000 XRP holders in the SEC’s 2021 lawsuit against Ripple Labs and more recently in the LBRY vs. SEC case in September 2023.
Adding to his legal activism, Deaton is also eyeing a political role, challenging Senator Elizabeth Warren, a known crypto critic, for her Senate seat.
His campaign has garnered significant financial support, outpacing Warren’s fundraising efforts in the first quarter of this year.
According to an April 15 Cointelegraph report, Deaton raised $1.36 million, surpassing Warren’s $1.09 million.
He also invested $500,000 of his personal funds into his Senate run and appealed to his 324,100 Twitter followers to help raise an additional $500,000.
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Armando Pantoja, a renowned cryptocurrency investor active on social media platform X, has shared his optimistic price targets for several cryptocurrencies over the next 12 to 18 months.
His predictions include a significant rise for SHIB, the native token of the Shiba Inu ecosystem, forecasting it to surpass $0.001.
In a detailed post, Pantoja outlined his expectations for major cryptocurrencies:
“My #crypto targets for next 12-18 months:$BTC: $100k-$250k$ETH: $10k-$15k$XRP: $3-$6$SHIB: $0.001+$DOGE: $1$SOL: $500-$1000$AVAX: $100+$ICP: $100+$INJ: $100-$200$PRO: $10-$20”
Pantoja included Bitcoin in his predictions, a cryptocurrency that recently reached a new all-time high (ATH) even before its next halving event.
He anticipates that Bitcoin will trade between $100,000 and $250,000 during the forthcoming bull cycle.
This optimism was buoyed by Bitcoin’s performance following the SEC’s approval of a spot Bitcoin ETF in January, which saw the cryptocurrency hitting a new ATH of $73,794 before consolidating.
READ MORE: Sector Analysis: Fibonacci Support Boosts Atom, XLM; Scapesmania Ushers in Possible Bullish Era
There is widespread belief among investors that Bitcoin will continue its upward trend post-halving.
Apart from SHIB and Bitcoin, Pantoja’s list features several other significant cryptocurrencies.
He believes that Ethereum, the leading altcoin, will surpass $10,000 for the first time, predicting a trading range of $10,000 to $15,000 during the bull cycle.
Pantoja suggests that Ethereum’s success will likely spur growth in other altcoins, notably XRP, which he predicts will rise above $3, potentially reaching up to $6.
Furthermore, Pantoja is bullish on DOGE, expecting it to reach $1. He also foresees substantial rises for SOL, which might surpass $500 and could even reach $1,000.
Additionally, he predicts AVAX and ICP will both exceed $100. For INJ, he anticipates a trading range of $100 to $200, and for PRO, he expects a range of $10 to $20.
These predictions reflect Pantoja’s confidence in the cryptocurrency market’s potential growth in the near future.
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Akira, a ransomware group only a year old, has already infiltrated over 250 organizations and secured roughly $42 million in ransoms, as reported by leading global cybersecurity agencies.
The FBI’s investigations indicate that Akira has been active since March 2023, attacking businesses and critical infrastructure in North America, Europe, and Australia.
Originally targeting Windows systems, the FBI has now identified a Linux variant of Akira’s ransomware as well.
In response, the FBI, along with the Cybersecurity and Infrastructure Security Agency (CISA), Europol’s European Cybercrime Centre (EC3), and the Netherlands’ National Cyber Security Centre (NCSC-NL), issued a joint cybersecurity advisory.
This advisory aims to raise public awareness about the Akira threat.
The advisory outlines that Akira typically gains entry through virtual private networks (VPNs) that are not secured with multifactor authentication (MFA).
After gaining access, Akira extracts user credentials and other sensitive data before locking the system and displaying a ransom note.
Notably, the advisory states, “Akira threat actors do not leave an initial ransom demand or payment instructions on compromised networks, and do not relay this information until contacted by the victim.”
READ MORE: Shiba Inu Sees Surge in Market Interest Despite Mixed Sentiments Among Traders
Victims are then asked to pay a ransom in Bitcoin to regain access to their systems. Akira also takes steps to disable security software soon after infiltration to remain undetected.
To combat such threats, the advisory recommends several mitigation strategies, including the implementation of MFA, a recovery plan, filtering of network traffic, disabling of unused ports and hyperlinks, and the use of system-wide encryption.
The agencies emphasize the importance of continual testing of security measures.
“The FBI, CISA, EC3, and NCSC-NL recommend continually testing your security program, at scale, in a production environment to ensure optimal performance against the MITRE ATT&CK techniques identified in this advisory,” they advise.
Previously, the FBI, CISA, NCSC, and the U.S. National Security Agency (NSA) had also warned about malware targeting cryptocurrency wallets and exchanges.
This recent report points out that Akira’s malware extracts data from various cryptocurrency applications like Binance, Coinbase, and the Trust Wallet, emphasizing that it exfiltrates every file type found within the targeted directories.
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The recent behavior of institutional investors and Bitcoin exchange-traded fund (ETF) holders indicates a relatively stable market with minimal selling pressure expected in the near term.
Despite the recent drop in Bitcoin’s price below $60,000, current data suggests that these major players are not positioned for significant sell-offs, which could have indicated a local bottom for Bitcoin’s price.
According to CryptoQuant, short-term Bitcoin whales—defined as investors holding at least 1,000 BTC for no more than 155 days—show an unrealized profit of only 1.6%.
This minimal gain contrasts sharply with long-term holders of the same Bitcoin volume, who have been holding for over 155 days and enjoy an unrealized profit of 223%.
Ki Young Ju, the CEO of CryptoQuant, highlighted this disparity in an April 19 X post, emphasizing the significant profit margins experienced by different investor cohorts.
Further insights from CryptoQuant reveal that while small miners have an unrealized profit of 131%, larger mining firms have accrued 81%.
Notably, the top five mining firms have refrained from selling their holdings in anticipation of the upcoming Bitcoin halving, contributing to a reduction in sales to a two-year low as of the first quarter of 2024.
Bitcoin’s price fluctuations have also caught the attention of market analysts. After falling below $60,000 twice in April, Bitcoin recovered, approaching $65,000.
This pattern has led some analysts to suggest that a “double bottom” may have formed, potentially signaling a rebound in price.
READ MORE: Sector Analysis: Fibonacci Support Boosts Atom, XLM; Scapesmania Ushers in Possible Bullish Era
Additionally, technical indicators like the relative strength index (RSI), which had previously shown Bitcoin as overbought in March, adjusted back to a neutral level of 46 in recent measurements.
This reset in technical indicators supports the notion that Bitcoin might have reached a local bottom earlier in the week, as posited by Arthur Cheong, founder of DeFiance Capital, in another April 19 X post.
On the technical front, Bitcoin recently broke out from a significant trading channel on the 4-hour chart, prompting predictions of a possible rise to $72,000, as noted by crypto trader Satoshi Flipper.
However, the market dynamics are also influenced by the ETF sector, where institutional net inflows into U.S. spot Bitcoin ETFs turned negative around the time of the halving, with more than $147 million in net outflows recorded on April 18.
This trend contributed to Bitcoin’s price dip, though Denis Petrovcic, CEO of Blocksquare, remains optimistic.
He told Cointelegraph, “While some might anticipate a drop post-halving, the sustained institutional interest and decreased block rewards should keep BTC prices stable or slightly bullish, avoiding the typical ‘sell the news’ fallout.”
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Sleepy Shiba (SLESHIB) could become a viral memecoin, like Shiba Inu (SHIB) and Book of Meme (BOME).
Sleepy Shiba (SLESHIB), a Solana memecoin that was launched today, is aiming to challenge other memecoin giants, such as Shiba Inu (SHIB) and Book of Meme (BOME).
Early investors in SHIB and BOME made astronomical returns, and Sleepy Shiba presents a similar opportunity.
SLESHIB currently has a market cap of around $25,000, with each coin trading around $0.00000845.
The exciting memecoin is poised to rally 13,000% in the coming 4 days, as the developers have already announced that Sleepy Shiba (contract address: 48ArdqDK1WJpicfi4evR3AboK4WJs6LZHbAmnpN55Z2N) will be listed on MEXC – a leading centralized crypto exchange.
This listing will be a massive bullish event for SLESHIB’s price, as it will give it huge exposure and propel its price, as millions of new traders will be able to easily buy Sleepy Shiba.
Currently, SLESHIB can only be purchased via Solana decentralized exchanges, like Jupiter and Raydium, and early investors could make huge returns once the MEXC listing goes live. To buy SLESHIB on these platforms, users need to connect their Solflare, MetaMask or Phantom wallet, and swap Solana for SLESHIB by entering its contract address in the receiving field.
In fact, early investors could make returns similar to those who invested in Shiba Inu (SHIB) and Book of Meme (BOME) before these memecoins went viral and exploded in price.
If this happens, a new wave of memecoin millionaires could be created in a matter of weeks – or potentially even sooner.
The Solana memecoin craze continues amid larger memecoins, like Shiba Inu (SHIB), Dogecoin (DOGE) and Book of Meme (BOME) trading sideways in recent weeks and losing momentum.
This is why many SHIB, DOGE and BOME investors are instead investing in new Solana memecoins, like Sleepy Shiba.
The Grayscale Bitcoin Trust (GBTC) has been facing a notable decline, with over $166 million and more than 2,500 Bitcoin being withdrawn on Friday, April 12.
This latest withdrawal is part of a broader trend that has seen the fund’s outflows reach a staggering $16.2 billion since its transformation into a spot Bitcoin exchange-traded fund (ETF) in January, according to Farside Investors.
Throughout the month of April, daily withdrawals have ranged from $75 million to $300 million, highlighting ongoing volatility in investor activity.
This downturn in GBTC is mirrored by a general slowdown in inflows across other spot Bitcoin ETFs, pointing to a decrease in investor engagement in the sector.
Over the past week alone, GBTC experienced outflows totaling $767 million, contributing significantly to the overall negative flow observed in spot Bitcoin ETFs.
In contrast, BlackRock’s iShares Bitcoin Trust ETF has seen a more positive trajectory, with assets under management exceeding $15 billion, which is beginning to close the gap with GBTC.
Grayscale CEO Michael Sonnenshein, speaking on April 10, hinted that the outflows from the Grayscale Bitcoin Trust might be nearing stabilization, indicating a potential uptick in trader and investor optimism. Despite this hopeful outlook, outflows have persisted.
READ MORE: XRP Shows Signs of Recovery Ahead of Bitcoin Halving, Poised for Bullish Reversal in 2024
Sonnenshein also commented on the high fees associated with GBTC, noting its 1.5% management fee, significantly higher than the 0.30% average fee of its competitors, as a potential factor driving the outflows.
He further explained the market dynamics, stating, “Markets often exhibit high excitement when commodity or thematic exposure products first emerge.
However, these products mature as time passes, leading to market consolidation as investors focus on a few offerings.”
Despite these challenges, there have been periods of reduced outflow, such as on April 10, when the outflows dropped to $17.5 million—a sharp decline from the $154.9 million seen the previous day.
Yet, the average daily outflow since January remains high at $257.8 million.
The shift in GBTC’s structure came after a successful lawsuit against the U.S. Securities and Exchange Commission, which led to its conversion to an ETF in January, alongside the introduction of nine other spot Bitcoin ETFs.
Adding to the market’s dynamics, the bankrupt crypto lending firm Genesis recently sold approximately 36 million GBTC shares to purchase 32,041 Bitcoin, reflecting ongoing shifts within the broader cryptocurrency landscape.
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On April 13, the price of Bitcoin experienced a significant drop of over 8.4%, triggered by heightened geopolitical tensions after Iran attacked Israel.
This event led to a sharp decrease in Bitcoin’s value, plummeting from approximately $67,000 to $61,625 and erasing over $130 million in market capitalization within moments of the news breaking.
This downturn wasn’t isolated to Bitcoin alone; other major cryptocurrencies also felt the impact.
Ether dropped by 9.81% to a price of $2,927, and Solana saw a substantial decline of 15.96%, bringing it down to $129.
According to data from CoinMarketCap, the global cryptocurrency market cap fell by 8.19% to $2.23 trillion.
The attack involved Iran deploying drones towards Israel as a response to a prior Israeli airstrike on a diplomatic facility in Damascus, Syria.
This earlier strike resulted in the deaths of seven Iranians, including two generals. The incident not only escalated the conflict but also involved Iran seizing a cargo ship owned by an Israeli billionaire.
The situation further intensified with U.S. President Joe Biden’s warning on April 12 about potential imminent attacks by Iran.
President Biden assured support for Israel, stating: “We are devoted to the defense of Israel. We will support Israel, we will help defend Israel, and Iran will not succeed.”
These remarks underscored the U.S. commitment to aiding Israel amidst the escalating tensions.
The friction between Iran and Israel marks a significant escalation in regional conflicts, following the October 7, 2023, terrorist attacks by Hamas which sparked ongoing confrontations between Israel and Hamas. The U.S. has been actively attempting to mitigate further escalations.
U.S. officials have advised Israel against escalating the situation further. A government source relayed to CNN the frustrations within the U.S. administration over the lack of prior notice from Israel about its planned airstrike.
It was reported that Israel notified a U.S. official of the airstrike only when its aircraft were already en route to Syria.
“We were not aware that Israel was going to carry out this airstrike in advance,” the official stated. “Minutes before it happened and when Israeli planes were already in the air, Israel reached out to a U.S. official to say they were in the process of conducting a strike in Syria.
It did not include any details on who they were targeting or where it would be conducted, and the strike was already underway before word could be passed through the U.S. government.”
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In a surprising turn, Bonk (BONK) experienced a 4% decline overnight, igniting discussions around its market behavior and the possibility of buying during the dip. Currently, Bonk trades at $0.000023, following a 4.20% rise in the past day.
Its considerable trading volume places it at 71st on CoinMarketCap, boasting a market cap of $1.475 billion.
Bonk Price Prediction
A critical analysis reveals a pivot in Bonk’s market at $0.000021, signaling potential changes in investor sentiment. It faces resistance at $0.000024, $0.000026, and $0.000028, with support at $0.000020, $0.000018, and $0.000016.
The Relative Strength Index (RSI) of 44 indicates a balanced market, hinting at room for growth.
A noted double bottom pattern at $0.000021 and bullish candlestick formations suggest an increase in buyer interest. This optimism is supported by the 50-Day Exponential Moving Average (EMA) at $0.000024.
The synthesis of these indicators points to a bullish trend for Bonk, particularly if it maintains above $0.000021.
However, a fall below this mark could precipitate a notable price drop.
The dynamics between the RSI and 50 EMA suggest a burgeoning buying trend, underpinned by current chart patterns and price actions.
Despite Bonk’s optimistic outlook, market watchers are advised to stay vigilant of these pivotal price points and technical markers.
In the meantime, Slothana ($SLOTH), a new meme coin, merges the laid-back nature of sloths with the high-speed Solana blockchain, offering a fresh investment opportunity.
It aims to replicate the success of past meme coins, with the backing of the experienced Smog team and significant initial funding, positioning Slothana as a standout in the bustling meme coin arena.
“Slothana, crafted by the seasoned Smog team, aims to make a splash in the market, learning from past meme coin ventures like Slerf coin. With substantial initial funding, Slothana is set to stand out in the crowded meme coin space.”
Why Invest in Slothana?
Investing early in $SLOTH during the presale could lead to significant returns, leveraging the meme coin trend that has previously seen gains over 10,000%.
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The Chinese government, in a pioneering move, has unveiled a new blockchain infrastructure platform spearheaded by the Conflux Network.
Named the “Ultra-Large Scale Blockchain Infrastructure Platform for the Belt and Road Initiative,” this project is designed to serve as a foundational public blockchain tailored for cross-border applications.
An announcement on April 1 by Conflux Network highlighted the platform’s ambition to foster cross-border cooperation along the Belt and Road Initiative, aiming to “create a public blockchain infrastructure platform” that supports the development of applications facilitating international collaboration.
Conflux Network, recognized for its multichain blockchain ecosystem, operates under the guidance of the Conflux Foundation, also known as the Shanghai Tree-Graph Blockchain Research Institute.
This initiative marks a significant stride in blockchain technology, especially within the context of China’s traditionally restrictive stance on cryptocurrencies.
Historically, China has exhibited a stringent approach toward the cryptocurrency market, intensifying its regulatory measures since 2017, including the shuttering of Bitcoin exchanges.
However, despite these restrictions, a considerable portion of Chinese investors continues to engage with cryptocurrencies.
A report by Kyros Ventures in December 2023 indicated that 33.3% of Chinese investors hold a significant amount of stablecoins, ranking just below Vietnam.
This persistence underscores the innovative methods employed by Chinese traders to navigate the constraints imposed on crypto trading.
READ MORE: Whale’s Massive SHIB Sale Shakes Market: $16 Million Offloaded Sparks Speculation
The Chinese government’s ban on crypto trading and mining in 2021, along with its prohibition of offshore exchange services within its borders, significantly impacted the global cryptocurrency landscape, particularly diminishing China’s once-dominant role in Bitcoin mining.
Nonetheless, amid these regulatory challenges, China is preparing for a comprehensive overhaul of its Anti-Money Laundering (AML) laws, set to encompass cryptocurrency transactions.
This amendment, the first major update since 2007, seeks to introduce more stringent measures against crypto-related money laundering activities.
This development comes in the wake of reports highlighting the misuse of “virtual currency trading platforms” in facilitating substantial underground banking operations, emphasizing the government’s intent to tighten control over the digital currency sphere.
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The Shiba Inu team has recently raised an alarm among its dedicated followers, known as the SHIB Army, cautioning them against counterfeit Sheboshis.
These tokens, introduced to the crypto sphere in late February, have seen a surge in popularity.
However, a troubling trend of fake tokens, attempting to impersonate genuine Sheboshis or (SHEB) tokens, has emerged, putting unwary investors and members of the community at risk.
A Shiba Inu project representative has urgently advised the SHIB community to stay alert and cautious regarding these developments.
Lucie, part of the Shiba Inu team, issued a stark warning about these fraudulent Sheboshis, emphasizing the significant discrepancy in price between authentic Sheboshi tokens linked to the Shiba Inu ecosystem and the impostors.
She stressed, “Warning: Please understand the crucial difference: SHEB does not have any zeros. Be informed and cautious,” in an X post.
This caution has sent the SHIB community into a whirl of speculation and concern. Lucie pointed out that authentic SHEB tokens are priced without any zeros, contrasting with fake SHEB tokens that include five zeros in their price, making them significantly less valuable than the genuine three-digit priced ($276) SHEB.
READ MORE: Crypto Trader Skyrockets Investment from $13,000 to $2 Million with Novel Memecoin on Base
Sheboshis are at the forefront of the crypto movement, blending the characteristics of NFTs with innovative features through the DN404 standard.
pThis hybrid approach aims to merge the liquidity and fractional ownership benefits of ERC-20 and ERC-721 standards, enhancing the NFT market’s dynamics.
In another significant achievement for the Shiba Inu ecosystem, its Layer 2 platform, Shibarium, has reached notable milestones, including surpassing 413 million transactions and achieving over 4 million blocks.
Shibariumscan reports a current total of 413,205,890 transactions and 4,079,830 blocks on the platform.
With Shibarium now hosting more than 1.39 million wallet addresses and a thriving ecosystem of applications, it demonstrates the platform’s increasing acceptance and usage within the crypto community.
This growth not only underscores Shibarium’s success but also marks a pivotal advancement in redefining the Layer 2 landscape for the Shiba Inu ecosystem.
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