Crypto News

U.S.-listed spot bitcoin (BTC) and ether (ETH) exchange-traded funds (ETFs) saw outflows Wednesday even as the cryptocurrencies' prices surged after President Donald Trump announced a 90-day pause in tariffs on most countries, excluding China.The 11 bitcoin ETFs lost a net $127.2 million Wednesday, with investors withdrawing $89.7 million from BlackRock's IBIT alone, according to data from Farside Investors. Wednesday marked the fifth consecutive day of outflows, with the funds losing a cumulative $722 million over the period.Ether ETFs have also fallen out of investor favor and the nine funds saw a net outflow of $11.2 million Wednesday.The dwindling demand can be attributed to the macroeconomic uncertainty caused by the U.S.-China trade tensions and volatility in the bond markets that likely...

OpenAI has announced a counter-lawsuit against Elon Musk, alleging that his ongoing actions against the organization are bad-faith tactics aimed at undermining its operations and seizing control of its AI innovations for personal gain. In a statement on X, OpenAI accused Musk of spreading false information about the organization, asserting that it is committed toSource link

The securities regulator believes that crypto assets currently pose a minimal risk to financial stability due to their relatively small size and limited integration with traditional financial systems. Crypto Assets 1% of Global Financial Assets The European Securities and Markets Authority (ESMA) said crypto assets currently pose no significant risk to financial stability. The regulatorSource link

Non-fungible token (NFT) marketplace Magic Eden has acquired Slingshot, a trading app that allows users to see their crypto balance across multiple protocols.Slingshot allows users to trade tokens from a single universal USDC balance, removing hurdles like wallet setup, bridging assets across chains, and juggling gas fees, thus expanding Magic Eden well past Solana to every chain, including bitcoin.“This acquisition is a major step forward in advancing the Magic Eden vision, which is to provide users worldwide with a seamless and safe way to buy and sell crypto and digital assets across all chains,” Jack Lu, CEO and Co-Founder of Magic Eden said in a blog post. “Pairing Slingshot’s team of product visionaries with Magic Eden’s best-in-class marketing and scaling...

Emails from OpenAI allegedly show Musk pushed to abandon its nonprofit model, take majority equity, and become CEO.Source link