Crypto News
Tether Reports Q1 Profit Above $1 Billion, Down From 2024 Amid Bitcoin Yield Decline
Stablecoin giant Tether says it now holds nearly $120 billion worth of direct and indirect exposure to U.S. Treasuries.Source link
Bitcoin Breaks $97K as Markets Defy Weak Employment Data
Jobless claims surged at the end of April according to fresh data from the Department of Labor, but both traditional and crypto markets still rallied Thursday morning. Markets Rally: Bitcoin Hits $97K Even as Jobs Data Disappoints The number of unemployed Americans filing for jobless benefits swelled to a seasonally adjusted 241,000 for the weekSource link
Movement Plunges to All-Time Low After Coinbase Says It Will Delist Ethereum L2 Token
The MOVE token suddenly dropped 14% on Wednesday following word from Coinbase that it will suspend the Movement token for trading.Source link
Ethena Labs to Integrate USDe Stablecoin With TON Blockchain for Telegram Users
Ethena Labs will bring its USDe synthetic dollar and its staking counterpart, tsUSDe, to The Open Network (TON) blockchain, unlocking access to dollar-denominated savings for Telegram’s 1 billion users through self-custodial wallets starting in May 2025. TON Ecosystem to Support Ethena’s USDe for Dollar Savings and Staking Through a collaboration with the TON Foundation, USDeSource link
Movement Token Slumps 14% as Coinbase Suspends Trading
Coinbase will suspend trading of Movement's MOVE token, citing "recent reviews," following a CoinDesk investigation into market-making deals that experts said incentivized price manipulation. The token fell more than 13% on the trading suspension news, while the broader market gauge CoinDesk 20 Index rose 4.4%. Movement Labs is currently investigating how a market maker may have gained access to a significant number of its tokens, which were then dumped on retail investors, causing its price to tank. The market maker, Web3Port, appears in contracts previously reported by CoinDesk. Coinbase did not share many details about the trading suspension, just announcing that it would do so on May 15 by 2:00 p.m. Pacific Time (21:00 UTC). Coinbase said it has already...