Crypto News
Tornado Cash Developer Alexey Pertsev to Be Released From Jail to Prepare for Appeal
Alexey Pertsev, the Tornado Cash developer found guilty of money laundering in 2024, is set to be released from prison on Friday to prepare for his appeal, he said in a post on X. The 31-year old Russian national was sentenced to 64 months in a Dutch prison last May after an indictment said Pertsev had "a habit of committing money laundering" and should have suspected illicit transactions on the platform.Tornado Cash is a coin-mixing protocol that allows users to privately send tokens to another wallet. It achieves privacy by pooling funds together and shuffling them until the origin is unclear.The protocol is sanctioned by the U.S. government, which alleges that Tornado Cash was being used by North Korean hackers...
Crypto Platform Deribit Bars Russian Nationals Due to EU Sanctions
Deribit said that starting Feb. 17, Russian accounts will switch to “reduce-only” mode, and all positions will be forcibly closed by March 29, although withdrawals will remain open. Withdrawals to Remain Open Deribit, a cryptocurrency derivatives platform, announced Feb. 5 that European Union (EU) sanctions on Russia have forced it to exit the country. AccordingSource link
Cboe Files 19b-4 Proposals for Spot XRP ETFs, Initiating SEC Review
On Thursday, the Chicago Board Options Exchange (Cboe) initiated a pivotal regulatory step by submitting 19b-4 filings to the U.S. Securities and Exchange Commission (SEC) on behalf of four prominent asset management entities—Bitwise, Wisdomtree, 21shares, and Canary Funds—to advance proposals for spot XRP exchange-traded funds (ETFs). Cboe Files 19b-4 Proposals for XRP Trusts Fundamentally, aSource link
Bitcoin in a Mire, Gold Eyes 6th Straight Week of Gains as Jobs Data Looms
Bitcoin (BTC) continues to dawdle, failing to capture trader enthusiasm amid chatter about prices being overvalued, while gold remains strong ahead of the release of the U.S. jobs report, which will influence the Fed's rate plans.Recent analysis from CryptoQuant indicates that bitcoin's fair value lies between $48,000 and $95,000, highlighting that it appears overvalued at its current market price, which hovers just above $98,000. The analytics firm's Bitcoin's Network Activity Index has plummeted 15% from its peak in November to 3,760 points, the lowest level in over a year. The downturn is driven by a staggering 53% drop in daily transactions, which have fallen to 346,000 from September's all-time high of 734,000.Since its recovery from the slide early Monday, BTC...
Solana’s SOL Could Hit $520 by 2025-End, VanEck Says
Investment firm VanEck predicts Solana's SOL will touch $520 by the end of 2025 as the demand for smart contract platforms (SCP) grows and M2 money supply increases in the coming months.M2 money supply measures how much money is circulating in the U.S. economy, which tends to influence the crypto market. M2 money supply includes cash, checking deposits, and easily convertible near money like savings deposits and money market funds.VanEck predicts M2 money supply will grow to $22.3 trillion by 2025 from the current $21.5 trillion. When central banks increase M2 by lowering interest rates or through quantitative easing, more money enters circulation, leading to more liquidity in the economy and encouraging investments in risk assets, such as cryptocurrencies.On the...