Coindesk

The FTX Recovery Trust will begin distributing over $5 billion in cash and stablecoins to creditors starting on Friday, with funds expected to land in accounts within the next three business days via BitGo and Kraken.And there’s a chance this wave of repayments will help lift the crypto market, analysts at Coinbase wrote in a report on Friday.It’s the second major round of repayments following the exchange’s collapse. The first, which began on Feb. 18, returned roughly $7 billion to creditors with claims under $50,000. That did little to lift broader crypto markets at the time, which remained under pressure from macro headwinds.This latest wave of distributions comes as investor sentiment has shifted, the analysts said. Payments will arrive in...

The federal judge overseeing Roman Storm's prosecution declined to order the Department of Justice to review its records for any materials it might have missed that would help the Tornado Cash developer at the end of a 30-minute hearing Friday morning, though she told the government it should not have any disclosure issues.Judge Katherine Polk Failla also ruled that there were no Brady violation concerns with the Department of Justice's conversations with the Financial Crimes Enforcement Network (FinCEN) about whether mixers needed to register as money transmitters — the conversation that prosecutors pursuing Samourai Wallet developers had with FinCEN officials, but not the prosecutors on Storm's case — one of the DOJ representatives said in the phone conference on Friday.If...

The cryptocurrency market is experiencing significant downward pressure as global economic uncertainties impact digital assets across the board. Avalanche (AVAX) has been particularly affected, with increased selling occurring at high volume, establishing strong resistance at the $22.35 level.New Jersey’s Bergen County announced on Wednesday that it plans to digitize all property deeds on the Avalanche network under a five-year agreement with blockchain software firm Balcony.Technical Analysis• Significant bearish momentum with price dropping from $23.04 to $21.48, representing a 6.78% loss over 24 hours.• Strong volume-based resistance established at the $22.35 level with exceptionally high volume (2.24M).• Multiple recovery attempts were rejected at the $21.88 zone, forming a clear resistance ceiling.• Support emerged around $21.32-$21.40 with increasing buy volume.• Price briefly...

U.S.-listed spot bitcoin BTC exchange-traded funds (ETFs) recorded their first day of net outflows in 10 trading sessions on Thursday, according to a research report by JPMorgan (JPM).The Wall Street bank estimated that spot bitcoin ETFs saw $358 million of redemptions yesterday, according to a Friday report, with just one, BlackRock’s iShares Bitcoin Trust (IBIT) attracting a net inflow. IBIT gathered in a net $125 million, the bank observed. In contrast, Fidelity’s FBTC saw net outflows of $166 million, leading the redemptions, the report said. Other major contributors included the Grayscale Bitcoin Trust (GBTC) -$107 million, ARK 21Shares Bitcoin ETF (ARKB) -$89 million and the Bitwise Bitcoin ETF (BITB) -$71 million, the bank saidJPMorgan said smaller outflows were also noted...

TON's recent price action reveals the complex interplay between project-specific developments and global economic factors. The token's dramatic 24-hour range from $3.22 to $3.47 demonstrates how quickly sentiment can shift in cryptocurrency markets affected by international trade tensions. While TON found critical support at $3.22-$3.24, the pronounced bearish momentum that emerged resulted in a 6.2% decline from daily highs before a modest recovery attempt in final trading hours.Technical AnalysisTON exhibited a 7.7% price range ($3.22-$3.47) over 24 hours, with an early rally followed by persistent selling pressure.Key resistance established at $3.44-$3.47 with high-volume rejections during the 14th and 15th hours. Support found at $3.22-$3.24 in later trading sessions.Bearish momentum after midnight resulted in a 6.2% decline from the day's high.Volume...