Crypto News

Billions of dollars have flowed into the U.S.-listed spot bitcoin BTC exchange-traded funds (ETFs) in recent weeks, as the cryptocurrency chalked out a sharp recovery rally from $75,000 to $100,000.Most of the investment is likely driven by bold, strategic bullish directional bets rather than market-neutral arbitrage plays, data analysis suggests.The 11 spot ETFs drew in $2.97 billion in investor money in April, with an additional $2.64 billion flowing in so far this month, according to data source SoSoValue. That has boosted the net inflow since inception in January 2024 to over $41 billion.Institutions have historically used these ETFs to set up non-directional arbitrage plays to profit from price discrepancies between futures and spot bitcoin markets. The so-called cash and carry...

Nasdaq-listed DeFi Development Corp. is adding to its Solana connections, teaming up with one of the network’s top meme coins.Source link

A 26-year-old man from Alabama has been sentenced to more than a year in prison for his role in a social media hack that briefly sent the price of bitcoin BTC soaring.Eric Council Jr. of Huntsville pleaded guilty to charges tied to the January 2024 hack of the U.S. Securities and Exchange Commission’s X account, according to a U.S. Department of Justice press release.Posing as a telecom customer using a fraudulent ID, Council used a SIM-swap technique to hijack a phone number tied to the SEC’s account. His co-conspirators then used it to falsely post that the agency had approved spot bitcoin exchange-traded funds (ETFs), a long-awaited regulatory milestone.Within minutes, the price of bitcoin surged by more than $1,000. It...

Ethereum NFT game DX Terminal gives players’ unruly AI agent traders one week to rack up as many fake meme coins as possible. What could go wrong?Source link

Crypto Fight Night isn’t made for fight fanatics—it’s an event for crypto bros to break bread after months of battling in the trenches.Source link