491.27K
1.05M
2025-01-15 15:00:00 ~ 2025-01-22 09:30:00
2025-01-22 11:00:00 ~ 2025-01-22 23:00:00
Total supply1.00B
Resources
Introduction
Jambo is building a global on-chain mobile network, powered by the JamboPhone — a crypto-native mobile device starting at just $99. Jambo has onboarded millions on-chain, particularly in emerging markets, through earn opportunities, its dApp store, a multi-chain wallet, and more. Jambo’s hardware network, with 700,000+ mobile nodes across 120+ countries, enables the platform to launch new products that achieve instant decentralization and network effects. With this distributed hardware infrastructure, the next phase of Jambo encompasses next-generation DePIN use cases, including satellite connectivity, P2P networking, and more. At the heart of the Jambo economy is the Jambo Token ($J), a utility token that powers rewards, discounts, and payouts.
Target’s CEO Brian Cornell said that raising prices to cover President Donald Trump’s tariffs will be the retailer’s “very last resort.” He made the comment on Tuesday as Target reported weaker-than-expected sales in its first quarter and cut its forecast for the whole year. Target’s business has struggled compared to rivals known for low prices. NBC reports that Cornell noted the company has “many levers to use in mitigating the impact of tariffs,” from cost trimming to shifting its supply chain. Last week, Walmart said customers might begin to see some prices climb as soon as this month, because tariffs have created a more “challenging environment to operate in.” Trump took to his social media platform to demand that Walmart “EAT THE TARIFFS,” adding, “I’ll be watching, and so will your customers!!!” Major retailers seem to be treading carefully around price hikes after Trump criticized Walmart “We’ll keep prices as low as we can for as long as we can given the reality of small retail margins,” Walmart told NBC News on Saturday in response to Trump’s post. Days later, Home Depot all but ruled out near-term price hikes, citing its scale and supply-chain arrangements. Lowe’s barely mentioned tariffs when it reported earnings Wednesday, but said only about 20% of its sales now come from China, after years of diversifying sourcing. For Target, Cornell stressed that tariffs are just one of a series of “massive potential costs” the company faces. He pointed to consumer uncertainty about the economy and a high-profile backlash after Target scaled back its diversity, equity and inclusion policies. The company had expanded those initiatives after police murdered George Floyd in Minneapolis five years ago this weekend. See also South Korea to boost export measures as U.S. tariff deadline nears Over the past year, Target has rolled out discounts to attract shoppers weary of inflation and has touted plans to expand its third-party marketplace to offer a wider range of items. To handle new trade-policy challenges, it is negotiating with vendors, reassessing its product lineup, and adjusting its foreign supply chain, Chief Commercial Officer Rick Gomez told investors Wednesday. “Half of what we sell comes from the U.S.,” Gomez said, adding that Target is boosting production in the United States and in other countries outside China, whose exports currently face a 30% import tax. Target’s stock was trading more than 3% lower late Wednesday morning. Some major companies that sell products through leading retailers have raised prices or said they’re considering doing so, including toolmaker Stanley Black & Decker, consumer products giant Procter & Gamble, sportswear brand Adidas, and toy maker Mattel. Mattel, the maker of Barbie dolls, has also faced criticism from Trump, who threatened to slap it with 100% tariffs this month after it signaled that price hikes were on the table. Bigger companies are at an advantage due to tariffs The U.S. Chamber of Commerce and small business owners say that tariffs could drive many independent shops out of business, reducing competition and benefiting big corporations. See also Large U.S. corporations turn to Europe for cheaper Euro loans The National Retail Federation, which represents some of the biggest retailers in the country, has highlighted that risk in its lobbying, noting that “small and medium-sized businesses will be disproportionately affected by the tariffs, with many saying they will have to raise prices or shut down,” it says on its website. So far, “consumers are still spending despite widespread pessimism fueled by rising tariffs,” NRF Chief Economist Jack Kleinhenz said after retail sales eked out a 0.1% rise in April. However, even the largest multinational companies aren’t insulated from tariff-driven uncertainty, the NRF and industry analysts say. Like Target, several large firms have revised or scrapped their financial outlooks in recent weeks, unsure how the White House’s trade agenda will affect them. On the other hand, not every retailer is concerned about tariffs. The parent company of T.J. Maxx and Marshalls beat sales estimates Wednesday and maintained its full-year forecast. The discounter, which buys unsold merchandise from other brands that have already paid tariffs on much of it, said it expects to be able to handle the pressure from higher import taxes. Sportswear brand Canada Goose, known for its popular winter jackets, also exceeded Wall Street expectations. But it joined the slew of companies pulling their forecasts for the rest of the year, citing an “unpredictable global trade environment.” Cryptopolitan Academy: Tired of market swings? Learn how DeFi can help you build steady passive income. Register Now
Both emerging creators and chart-topping stars have adopted EVEN, which onboards over 50,000 artists per week. Avalanche offers the infrastructure required for a platform with genuine onchain use and strong creative standards to expand without sacrificing quality. AvaCloud, the end-to-end managed infrastructure solution from Ava Labs, is being utilized to build EVEN, a direct-to fan music platform that is used by prominent artists including J. Cole, LaRussell, 6LACK, and Smino. Both emerging creators and chart-topping stars have adopted EVEN, which onboards over 50,000 artists per week. The team saw the necessity for a blockchain that could provide speed, cost-effectiveness, and uncompromising scalability as EVEN keeps expanding. Avalanche offers the infrastructure required for a platform with genuine onchain use and strong creative standards to expand without sacrificing quality. Favorable for a platform that anticipates adding over two million artists by the year’s end. Fans’ access to music is being altered by EVEN. Artists on EVEN deliver music straight to their listeners rather than initially to streaming services, keeping greater value, receiving payment immediately, and controlling the release date. A single active fan is equivalent to one sale via EVEN. In contrast, to make the same amount of money on conventional platforms, artists usually require more than 1,250 paid streams or 3,750 ad-supported streams, often from sizable listener bases. By the end of the year, the platform anticipates onboarding over two million artists. With the support of AvaCloud, EVEN is able to provide transparent revenue distribution, real-time token gated access, and robust features that assist artists in comprehending and expanding their fan communities. The EVEN team can concentrate on what really matters—providing better experiences for creators and fans—by eliminating backend complexity with AvaCloud. Mag Rodriguez, CEO of EVEN stated: “We built EVEN to return value and agency to artists, letting them own their moment and monetize on their terms. By creating a parallel economy alongside streaming, we empower creators and superfans alike. Avalanche gives us the performance and scalability to deliver music drops and fan experiences at a global scale.” Interactive features like token gated access, comprehensive fan analytics, and data-driven tools that assist artists in developing more sustainable careers are made possible by the bespoke Layer 1. Additionally, EVEN integrates with UnitedMasters and other music industry participants, which facilitates the adoption of direct-to-fan tactics by the larger ecosystem. Crucially, Luminate, the firm that runs the Billboard charts, acknowledged EVEN as the first superfan platform. This implies that artists may influence their chart positions while still profiting from fan-powered monetization. John Nahas, VP of Business Development at Ava Labs stated: “We are excited to welcome EVEN to the Avalanche ecosystem. Their model is a compelling example of how Avalanche supports real world consumer applications. From music to finance, we are building the infrastructure that enables creators to thrive.” With the help of EVEN, a direct-to-fan music platform, artists can independently make money from their work, cultivate stronger fan interactions, and get valuable insights from comprehensive analytics. Through collaborations across the music industry, EVEN assists a wide range of creators working toward a more sustainable music distribution model.
Key Takeaways: Main event may shift market sentiments. Details still at the negotiation phase. No immediate crypto market impact noted. Major US-Russia Trade Talks Announced President Trump has announced Russia’s intention to engage in a major trade deal with the United States. As of May 19, discussions are confirmed at the presidential level between Trump and Russian President Vladimir Putin. This development highlights potential shifts in US-Russia relations, with broad economic implications as both countries seek stronger financial ties. Negotiations led by Donald J. Trump and Vladimir Putin follow historical trends, echoing past trade discussions like US-UK and US-China deals . No impact on crypto, but potential long-term effects remain under observation. No official crypto market changes have been reported at this stage. Experts emphasize that while initial discussions are underway, tangible changes to cross-border activities are yet to be determined. Observers point to historical precedents where new trade agreements influenced financial markets, suggesting potential shifts in sentiment. “Russia wants to do large-scale trade with the United States when this catastrophic ‘bloodbath’ is over, and I agree. … Let the process begin!” Analysts predict indirect impacts on global financial systems, potentially influencing existing sanctions and economic strategies. Historically, trade announcements have led to speculative movements, sometimes affecting equities and currencies. Crypto commentators remain silent on this development, with no significant insights from leading industry figures. Market watchers are closely monitoring for any shifts in investor behavior or regulatory adjustments related to the announced talks. The announcement comes amid active trade negotiations with countries like the UK and China, indicating a robust foreign policy approach. Despite the lack of crypto-specific updates, the situation warrants attention as it evolves further.
A 42-year-old man from Connecticut has been taken into custody for his alleged role in a check fraud ring that stole hundreds of thousands of dollars from US banks. In a website post, the Connecticut State Police say they’ve arrested and charged Eric J. Christian with violating the Corrupt Organizations & Racketeering Act, conspiracy to commit first-degree larceny, fraudulent use of an ATM, illegal possession of a personal identification information device, issuing a bad check between $500-$1,000, conspiracy to commit third-degree identity theft and third-degree forgery. Police accuse Christian of participation in a check-kiting crew that defrauded US banks. Authorities say the thieves wrote bad checks from bank accounts with little to no money and deposited them into other accounts, making it appear that the funds existed. They would subsequently withdraw the funds before the check bounced. Christian has allegedly been recruiting individuals since 2020 to open accounts at various banks to facilitate the check fraud scheme. Evidence in the arrest warrant shows the fraud scheme caused banks to lose more than $350,000, but authorities say the actual figure is believed to be much higher. Six other individuals have also been arrested in connection with the case, with the expectation of more arrests. Christian is slated to appear in a Superior Court on May 22nd. Follow us on X , Facebook and Telegram Don't Miss a Beat – Subscribe to get email alerts delivered directly to your inbox Check Price Action Surf The Daily Hodl Mix Generated Image: Midjourney
If traders had a crystal ball, their biggest wish would be knowing how to buy XRP at the bottom. Especially true in crypto, where the mantra remains: “Wen moon?” Translation: “Are we finally at the bottom?” First, a heads up: some of the technical analysis tools and methods discussed here might differ from conventional wisdom. Why? Because, just like any other field, trading theories and best practices evolve. It can take years for these updated practices to trickle down from the pros to retail traders. Sometimes, even the pros lag behind in adopting these changes! For this piece, we’ll dissect the anatomy of a market bottom using XRP, one of the most widely followed cryptocurrencies. First Things First News is anecdotal. That’s a polite way to say, “news doesn’t matter.” If you ever chase professional certifications like the CMT (Chartered Market Technician) or CFTe (Certified Financial Technician), you’ll dive into works like “Behavioral Investing” by James Montier, which tackles the effect of news on markets. The TL;DR? News only matters if the price moves. If price doesn’t react meaningfully, the news is irrelevant. People simply look to the news as an explanation or a reason for something that happened. If we want to buy XRP at the bottom, there’s several tools that can help identify and time it correctly. The two tools I’m going to focus on is the RSI and Stocktwits’ social sentiment data. RSI: It’s About Context, Not Blind Levels If you want to buy XRP at the bottom, the RSI can help. Heads up: you’ve probably been using RSI incorrectly – or, at least, not as efficiently as you could. Don’t feel bad, though. The way professionals interpret RSI shifted nearly 20 years ago… but again, even pros sometimes take ages to adapt. The RSI (Relative Strength Index) is among the most familiar and utilized indicators among traders. In 1978, J. Welles Wilder introduced the RSI. Back then, it was revolutionary. Why? Because RSI thrives in ranging markets, exactly what investors experienced during Wilder’s time: DJIA Monthly Chart, Source: Tradingview Updated RSI Use In 2008, Connie Brown – arguably one of the world’s greatest living analysts and traders – transformed how RSI is understood in her book, Technical Analysis for the Trading Professional (mandatory reading for certifications like CMT and CFTe). Without going into the nitty gritty, the RSI should now be viewed as something that is either in a bull market or a bear market. And while each instrument and timeframe is slightly different, the typical OB (overbought) and OS (oversold) levels are: Bull Market: OB 1 – 80 OB 2 – 90 OS 1 – 50 OS 2 – 40 Bear Market: OB 1 – 65 OB 2 – 55 OS 1 – 30 OS 2 – 20 Case in point: XRP’s daily chart from May 2019 to June 2020 May 2019 – June 2020 XRPUSD Daily Chart, Source: Tradingview The RSI level 65, in particular during this timeframe, acted as a relatively consistent source of resistance, while 30 and 20 acted as support. But how can you tell if RSI is bullish or bearish? Simple – overlay these levels, and whichever aligns better with recent movements, that’s it. Looking at XRP’s weekly chart now, my interpretation is bullish since XRP respects the OS level at 50 as support. XRPUSD Weekly Chart, Source: Tradingview Stocktwits Social Sentiment: A Cheat Code? Stocktwits’ social sentiment data is another powerful tool when trying to buy XRP at the bottom. Stocktwits captures insights exclusively from traders and investors – no random chatter from general social media. Here’s what I’ve found especially valuable: If message volume rises but sentiment stays flat or drops, I’m looking for bullish setups. People often talk about doing something before actually doing it. November 2024 illustrates this perfectly: Week of October 27, 1014: Sentiment 24, Volume 30 Next week: Sentiment drops to 22, Volume climbs slightly to 32 This sentiment/volume divergence typically signals upcoming bullish momentum. XRP Sentiment Analysis. Source: Stocktwits Recent XRP Sentiment Activity Currently, there is an even more dramatic divergence: Message Volume (orange) flat/slightly up Sentiment tanking, despite XRP’s price trending higher XRP Sentiment Analysis. Source: Stocktwits Another key pattern: When price flattens and sentiment dips steadily, it indicates traders are late in recognizing market direction. For me, that’s not just a signal to hop on – it’s a signal to secure a prime seat before everyone else rushes in. In short, identifying market bottoms isn’t about being first; it’s about understanding context, leveraging updated analysis methods, and decoding nuanced market sentiment. That’s the anatomy of a bottom—the XRP edition.
May 19, 2025 – New York, United states A group of creditors known as the THORFi Recovery Group is exploring potential legal proceedings against the blockchain-powered network THORChain and its principals. On January 23, 2025, users of THORChain’s THORFi lending and savers programs lost over $200 million. The potential lawsuit will seek to recover the lost digital assets. THORChain’s creditors may be able to join the lawsuit. The THORFi Recovery Group is represented by McDermott Will and Emery, a fintech and blockchain law leader since 2013. The firm maintains the industry’s largest crypto exclusive team. They are ranked by Chambers, Law360 and the American Lawyer for crypto litigation. McDermott is assisted by J.S. Held, a global consulting firm providing specialized forensic, investigative and advisory services. The firm’s cryptocurrency practice is recognized for its blockchain tracing, asset recovery and expert witness work in complex crypto fraud and insolvency cases. J.S. Held has supported litigation and recovery efforts in high-profile matters involving Celsius, Voyager and other major crypto collapses, working alongside legal teams and trustees to trace stolen assets, prepare evidentiary reports and provide testimony in court proceedings. THORFi creditors can learn more about the lawsuit here or contact via email here . About J.S. Held J.S. Held is a global consulting firm that combines technical, scientific, financial and strategic expertise to advise clients seeking to realize value and mitigate risk. Our professionals serve as trusted advisors to organizations facing high stakes matters demanding urgent attention, staunch integrity, proven experience, clear-cut analysis and an understanding of both tangible and intangible assets. J.S. Held, its affiliates and subsidiaries are not certified public accounting firm(s) and do not provide audit, attest or any other public accounting services. J.S. Held, its affiliates and subsidiaries are not law firms and do not provide legal advice. Securities offered through PM Securities, LLC, d/b/a Phoenix IB, a part of J.S. Held, member FINRA/ SIPC or Ocean Tomo Investment Group, LLC, a part of J.S. Held, member FINRA/ SIPC. All rights reserved. Contact Kristi Stathis , global communication and public relations at J.S. Held LLC
Key Takeaways: Trump criticizes Walmart’s tariff-related price hikes. Tariffs increase consumer prices for retail goods. No direct impact on cryptocurrency markets reported. Trump Criticizes Walmart Over Tariff-Driven Price Hikes This event highlights tension between trade policy and corporate pricing strategies, potentially impacting consumer goods prices but showing limited influence on cryptocurrency markets. President Trump criticized Walmart on Truth Social, urging the retailer to “EAT THE TARIFFS” instead of passing costs to customers. CEO Doug McMillon noted tariffs increase prices and cannot be fully absorbed. The U.S. continues to maintain tariffs despite retailer concerns. Major companies like Walmart warn of price increases if trade volatility remains. “Walmart should STOP trying to blame Tariffs as the reason for raising prices throughout the chain. Walmart made BILLIONS OF DOLLARS last year, far more than expected. Between Walmart and China they should, as is said, ‘EAT THE TARIFFS,’ and not charge valued customers ANYTHING. I’ll be watching, and so will your customers!!!” — Donald J. Trump, President of the United States, CBS News Retail strategies impact consumer pricing, highlighting profit margins’ vulnerability to tariffs. Despite rising costs, Walmart reported significant earnings, adding pressure to its public pricing stance. Historically, tariff increases have led to short-term price hikes across retail sectors. Financial experts remark on potential long-term market effects, underscoring companies’ limited ability to shield consumers. While tariffs strain retail, cryptocurrency remains unaffected by this dispute, indicating that broader economic shifts rather than trade-specific issues hold more sway over crypto markets.
Key Takeaways: FTX will distribute $5 billion by May 2025. John J. Ray III manages the process. Creditors to receive between 54% and 120% of claims. FTX to Distribute $5 Billion to Creditors in 2025 John J. Ray III leads FTX’s recovery efforts, aiming for large creditor refunds. The process highlights the significant complexity and potential new standards for handling cryptocurrency failures. The FTX Recovery Trust The FTX Recovery Trust will distribute over $5 billion to creditors by May 30, 2025. The distribution marks a notable step in the exchange’s bankruptcy process, involving approved creditors in both Convenience and Non-Convenience Classes. Key Players Key players include John J. Ray III, overseeing the distribution while managing FTX’s bankruptcy. Ray’s extensive restructuring experience and oversight ensure a smoother process for creditors expecting repayment. Kraken and BitGo are involved as distribution service providers. Eligible Creditors Eligible creditors could receive payments within 1-3 business days post-distribution date. This rapid repayment step significantly impacts those affected by the FTX collapse, ensuring timely financial recuperation compared to previous measured compensation cases in the sector. The planned distribution marks a turning point in the cryptocurrency failure management landscape, highlighting potential new precedents. Historical comparisons with Mt. Gox underline this more rapid creditor recovery timeline, with expectations set for future market responses. Creditors can look forward to full principal recovery, though gains from asset appreciation remain uncompensated. With ongoing asset sales and legal actions contributing to claimed recoveries, final resolution may offer further creditor returns. Future actions involve tackling remaining claims to enhance creditor returns. Historical comparisons stress the unique and potentially transformative nature of FTX’s bankruptcy proceedings, as more recoverable amounts emerge from legal activities and asset management strategies. John J. Ray III, Plan Administrator, FTX Recovery Trust, stated, “These first non-convenience class distributions are an important milestone for FTX. The scope and magnitude of the FTX creditor base makes this an unprecedented distribution process, and today’s announcement reflects the outstanding success of the recovery and coordination efforts of our team of professionals. Our focus remains on recovering more for creditors and resolving outstanding claims.” – Bitcoin Magazine
Key Points: Trump to sign strategic digital asset bill. Bill fosters BTC reserve development. Potential market shifts for BTC. The Strategic Bitcoin Reserve Announcement The ceremony marks a step for U.S. digital finance regulation, impacting both government and market stakeholders. The Strategic Bitcoin Reserve In a significant move, President Trump will sign a bill establishing the Strategic Bitcoin Reserve and a U.S. Digital Asset Stockpile . This step highlights increased government involvement in digital currencies. His administration’s recent initiatives signal a strategic effort to integrate digital assets into U.S. financial frameworks. Donald J. Trump, accompanied by the U.S. Treasury and Commerce secretaries, will lead the ceremony. Executive actions involve digital asset integration into governmental custodial frameworks, developing strategies to include cryptocurrency reserves without taxpayer burden. “President Donald J. Trump signed an Executive Order to establish a Strategic Bitcoin Reserve and a U.S. Digital Asset Stockpile, positioning the United States as a leader among nations in government digital asset strategy.” — White House Fact Sheet The formation of a Bitcoin reserve, derived from government-seizures, signals potential changes to U.S. reserve assets. Holding Bitcoin underlines its value as a reserve asset, influencing market perception and valuation. Financial Implications Financial implications are profound as Bitcoin now features prominently in governmental asset strategies, indicating a rising acceptance of digital currencies globally. This could trigger financial, market, and strategic recalibrations for existing stakeholders. Experts predict impacted on-chain liquidity and custody metrics as federal engagement in digital assets grows. Historical comparisons with other nations illustrate the policy’s influence, although unique in its asset accumulation approach. The government’s actions may alter the broader crypto regulatory landscape.
Lets look closer at the evolving world of cryptocurrency, we examine a sector that’s matured far beyond its experimental roots: bitcoin mining. While headlines often focus on institutional players, individual miners continue to carve out their place—with the right equipment, strategy, and setup. So how do you build a profitable bitcoin mining rig in 2025? We break it down, step by step. And remember, success in this space begins with trust. Sourcing your hardware from a trusted supplier of ASIC miners like MineShop ensures you’re equipped with tested, efficient ASICs backed by EU shipping and real-world support. Step 1: Define Your Mining Goals Before powering up a single machine, define your mission. Are you mining Bitcoin with long-term returns in mind? Or are you exploring altcoins, speculating on future gains? In 2025, the smart money still points to ASIC-based Bitcoin mining. While GPU rigs have their niche, it’s the application-specific machines that dominate the landscape in performance, reliability, and energy efficiency. Step 2: Evaluate Your Power Infrastructure It’s one of the most overlooked factors—but perhaps the most critical. Electricity cost per kilowatt-hour can make or break your rig’s profitability. Ask yourself: Is your home or space wired for a dedicated 220V line? Can it support sustained loads over 3,000 watts? Will a breaker box upgrade be necessary for future expansion? Before you buy, run the numbers. Mining calculators help predict what you’ll earn—and what you’ll spend. Step 3: Pick the Right ASIC Miner for the Job At the heart of your setup is the hardware. The ASIC miner. In 2025, leading models include Bitmain’s Antminer S21 series and the WhatsMiner M60 line—each designed to deliver top-tier performance with minimal energy waste. Here’s what to look for: Hashrate above 200 TH/s Efficiency under 20 J/TH Firmware support and community updates Availability of replacement parts And above all—buy from verified vendors. MineShop.eu is a name known across Europe for authenticity, shipping speed, and miner support. Step 4: Control Heat, Noise, and Ventilation If you’re imagining a quiet desktop setup, think again. ASICs generate substantial heat and noise. Unmanaged, that heat throttles performance and shortens your hardware’s life. So prepare: Use ducting to move hot air Invest in soundproofing if indoors Monitor temperatures continuously Even a modest garage can work with the right airflow. Larger operations may explore immersion cooling or modular containers. Step 5: Monitor, Maintain, and Adjust This isn’t “set it and forget it.” Bitcoin mining rewards the diligent. Stay on top of: Temperature spikes Hashrate dips Network difficulty adjustments Firmware and software updates Apps like Hive OS provide real-time visibility—an essential tool in your miner’s toolkit. Final Thoughts Bitcoin mining in 2025 isn’t just about machines—it’s about method. The miners who win aren’t always the ones with the biggest rigs—they’re the ones with the smartest setups.
FTX will begin distributing over $5B to eligible creditors starting May 30 via BitGo and Kraken. Based on claim classes, customers will receive between 54% and 120% of their balances. Customers must contact BitGo or Kraken for payout issues, not the FTX Recovery Trust directly. Two and a half years after its collapse, FTX is preparing to return funds to its remaining creditors. On May 15, FTX announced that it would distribute more than $5 billion starting May 30. The funds will go to customers who have waited since the exchange filed for bankruptcy in November 2022. The second wave of reimbursements will be processed through BitGo and Kraken. Customers should expect to receive payments within one to three business days after May 30. These payments follow the initial $1.2 billion distribution that began in February. (1/3) FTX today announced it is set to distribute more than $5 billion in its Second Distribution to holders of allowed claims in the Plan’s Convenience and Non-Convenience Classes that have completed the pre-distribution requirements on May 30, 2025. — FTX (@FTX_Official) May 15, 2025 According to the plan, customers fall into different claim classes with varying payout percentages. Class 5A Dotcom Customer Entitlement Claims are set to receive 72% of their balances, while Class 5B U.S. Customer Entitlement Claims will get 54%. Both Class 6A General Unsecured Claims and Digital Asset Loan Claims are slated for a 61% payout. Meanwhile, Class 7 Convenience Claims will be fully repaid at 120%. The remaining payouts for other creditors will be issued at a later date, which has yet to be announced. FTX calculated payouts using crypto prices from its 2022 bankruptcy filing, when Bitcoin was worth around $20,000. With Bitcoin now trading above $100,000, many former customers have expressed concerns about being reimbursed based on the much lower 2022 valuations. Despite this, the estate said 98% of eligible creditors will receive at least 118% of their allowed claim value in cash. Creditors who have chosen to receive payouts through BitGo or Kraken agreed to have those platforms manage their distributions. This means they have waived the right to receive cash directly from FTX. Related: FTX Files Lawsuit Against Issuers to Recover Undelivered Tokens John J. Ray III, who leads the FTX Recovery Trust, said the payouts mark a major milestone. He credited the team’s coordination and recovery efforts for the success. Ray added that the trust is still working to recover more funds and close pending claims. The collapse of FTX triggered legal actions against several executives. Founder Sam Bankman-Fried received a 25-year prison sentence earlier this year. Other former leaders, including Caroline Ellison and Ryan Salame, also received prison terms. FTX customers with questions about their payments must contact BitGo or Kraken directly. FTX will not handle individual payout inquiries. More updates about future distributions are expected soon. The post FTX Will Begin $5B Repayment Round to Users Starting May 30 appeared first on Cryptotale.
FTX Token (FTT) has jumped nearly 14% in the past 24 hours, surging as the market reacts to the latest FTX news. On May 15, FTX announced its $5 billion creditor distribution will begin on May 30, 2025. Market reaction aligned with top altcoins’ quest to bounce despite notable risk-off sentiment. The FTX Token (FTT) rose sharply as the crypto market reacted to an announcement that FTX, which filed for bankruptcy in November 2022, will soon commence the second phase of its creditor payments. As top coins looked to bounce after paring gains earlier in the day, FTT price spiked 14% to break to highs of $1.33. The gains came as FTX announced that the $5 billion distribution to creditors will start on May 30, 2025. Optimism around FTX’s Chapter 11 reorganization plan has helped FTT recover from lows seen when FTX imploded. FTX Token chart by CoinMarketCap FTX set to commence $5 billion creditor distribution The FTX team, led by administrator John J Ray III, has announced the crypto exchange’s second creditor distribution. An update on May 15 revealed that funds for allowed claims of eligible holders will start flowing into accounts on May 30, 2025. FTX will distribute over $5 billion to holders of allowed claims, both in its Convenience and Non-Convenience Classes. According to FTX, eligible creditors are those that have completed pre-distribution requirements. These users should also have onboarded with the selected distribution service providers, BitGo or Kraken. If all is in order, creditors should receive their share of the $5 billion from the platforms within 1 to 3 business days. John J.Ray III, FTX Recovery Trust plan administrator, said: “These first non-convenience class distributions are an important milestone for FTX. The scope and magnitude of the FTX creditor base make this an unprecedented distribution process, and today’s announcement reflects the outstanding success of the recovery and coordination efforts of our team of professionals. Our focus remains on recovering more for creditors and resolving outstanding claims.” FTX Token price soars In November 2022, the FTX Token (FTT) experienced a massive sell-off, with the price plummeting to under $1 from above $25. Since then, the token has struggled to break higher. Despite this, data from CoinMarketCap shows FTT price spiking by more than 70% since touching an all-time low of $0.75 on April 17, 2025. On May 15, the native FTX token rose by more than 14% to top the daily gainers list. While it has shed some of the upside momentum, FTX Token remains above the psychological $1 level. A 24-hour trading volume of $69 million represents a 271% surge, while market cap stands at over $416 million to see FTT rank as the 141st largest cryptocurrency by this measure.
FTX Trading Ltd. and the FTX Recovery Trust announced today that distributions under the FTX Chapter 11 Plan of Reorganization will resume on May 30, 2025. The forthcoming round, known as the Second Distribution, will be made to eligible creditors in the Convenience and Non-Convenience Classes who have completed all required steps, including KYC verification, tax form submission, and onboarding with one of FTX’s designated Distribution Service Providers—BitGo or Kraken. Details of the Second Distribution According to FTX, eligible creditors should expect to receive funds from their chosen service provider within one to three business days following May 30. (2/3) Eligible creditors should expect to receive funds from their selected distribution service provider within 1 to 3 business days from May 30, 2025. Additional details are available in FTX’s press release here: https://t.co/g8BX2KfbOu — FTX (@FTX_Official) May 15, 2025 The process marks the first non-convenience class distribution under the plan and is guided by the waterfall structure defined in the reorganization blueprint. Specifically, Dotcom Customer Entitlement Claims (Class 5A) will receive a 72% distribution, U.S. Customer Entitlement Claims (Class 5B) will receive a 54% distribution, General Unsecured Claims (Class 6A) and Digital Asset Loan Claims (Class 6B) will both receive 61%, and Convenience Claims (Class 7) will be paid out at 120%. Plan Administrator John J. Ray III noted, “These first non-convenience class distributions are an important milestone for FTX.” “The scope and magnitude of the FTX creditor base make this an unprecedented distribution process, and today’s announcement reflects the outstanding success of the recovery and coordination efforts of our team of professionals,” he added. Key Requirements and Next Steps FTX has also reiterated that customers must complete several steps before becoming eligible for any current or future distributions. This includes logging into the FTX Customer Portal, completing KYC procedures, submitting necessary tax documentation, and onboarding with either BitGo or Kraken. Customers who have opted for these service providers have effectively chosen to forgo direct cash distributions from FTX and instead receive payment through their selected provider. Any inquiries regarding fund availability should be directed to the provider’s customer support team. As the process unfolds, FTX said it will continue to announce future record and payment dates. For transferred claims, only the transferee officially listed on the claims register will receive distributions, provided the 21-day notice period has passed without objection. FTX Executives Sentenced: Where Are They Now? FTX, once a dominant force in the crypto exchange space, collapsed in November 2022 after facing a severe liquidity crisis. Within days, the company filed for bankruptcy, and its CEO, Sam Bankman-Fried (SBF), stepped down. He was later convicted and sentenced to 25 years in prison . Among those affected was investor Kavuri, who claimed to have endured two years of financial distress after losing over $2 million in FTX’s downfall. Legal proceedings against four other former FTX and Alameda Research executives wrapped up by the end of 2024. This led to Caroline Ellison and Ryan Salame receiving prison sentences , while Nishad Singh and Gary Wang were given time served . FTX’s restructuring plan, approved in October 2024 , prioritized repayments to users with claims under $50,000. Around 98% of affected users will receive 119% of their declared funds.
FTX Recovery Trust will begin distributing over $5 billion to creditors on May 30 as part of the company’s Chapter 11 Plan of Reorganization, according to a May 15 statement issued by the Trust. Holders of allowed claims in both Convenience and Non-Convenience Classes who have completed the required pre-distribution steps will receive the funds. The distribution marks the second official payment round since FTX entered bankruptcy proceedings. It will reach eligible claimants through designated Distribution Service Providers, BitGo and Kraken, within one to three business days of the release date. ‘Important milestone’ in recovery process FTX Recovery Trust Plan Administrator John J. Ray III said the distributions mark a key step in executing one of the most complex creditor payment operations to date, given the breadth of the creditor base. He added that the first non-convenience class distributions are “an important milestone for FTX,” crediting professional recovery teams for navigating the large-scale coordination effort. The May 30 payouts follow an earlier round of distributions that began in February for smaller creditors. Under that initial phase, claimants with approved amounts under $50,000 began receiving full reimbursements and 9% annual interest accrued since the bankruptcy filing in November 2022. Customers who onboarded with either BitGo or Kraken as their selected provider will receive their payments directly from these platforms. By onboarding, customers waived their right to receive direct cash distributions from FTX and instructed the firm to remit funds to their chosen provider. The Trust will disclose future payment dates as the process continues. Breakdown of distribution percentages According to the terms outlined in the reorganization plan’s payment hierarchy, Class 5A Dotcom Customer Entitlement Claims will receive a 72% payout, while US-based Class 5B Customer Entitlement Claims will receive 54%. Class 6A General Unsecured Claims and Class 6B Digital Asset Loan Claims will receive 61%. Class 7 Convenience Claims, which typically cover smaller claims, will be paid out at 120%. While the first wave fully repaid small creditors, those with claims above $50,000 are scheduled to receive distributions through upcoming rounds. A total of $16 billion has been allocated for repayments. Some creditors have voiced frustration with the wait, though bankruptcy filings indicate that the estate recovered more than initially projected, enabling broader and deeper repayment efforts than originally anticipated. The post FTX creditors poised to receive $5B by May 30 in latest distribution round appeared first on CryptoSlate.
Key Points: JPMorgan uses public ledger for bond trade. Ondo Finance, Chainlink support transaction. Shift demonstrates institutional blockchain adoption. JPMorgan’s Blockchain Milestone: Public Tokenized Bond Trade This marks a significant step towards real-world asset tokenization, likely increasing institutional interest and investment into decentralized finance. JPMorgan’s Public Tokenized Bond Trade JPMorgan Chase has made its first sovereign bond tokenization on a public ledger, utilizing the ONDO public blockchain. This development moves the U.S. Treasuries settlement from private setups to a publicly verifiable environment, opening new strategic opportunities. The collaboration with Ondo Finance and Chainlink allowed the completion of the trade, involving various infrastructures such as Kinexys for blockchain integration. “This was not a reaction to recent political changes but the result of a two-year partnership with Chainlink developing infrastructure for broader production,” remarked Nelli Zaltsman, Head of Platform Settlement, Kinexys by J.P. Morgan. These efforts follow a multi-year strategic initiative rather than a reactionary measure amidst political shifts. Impact on Financial Markets Immediate effects are anticipated on the financial and blockchain sectors, with potential capital influx into real-world asset tokenization. There is a notable verifiable spike in transaction volumes on relevant contracts. This development ushers in a new era of blockchain use in financial markets, bolstering credibility and potential demand for decentralized finance infrastructure. Financial analysts believe this may drive changes across similar institutions exploring public blockchain for real-world asset transactions. Regulatory and Technological Advancements The event signals positive outcomes for regulatory developments, particularly following U.S. government actions removing previous “debanking” barriers. This regulatory environment encourages further adoption of decentralized models. In addition, the advancements in technology are set to catalyze further institutional engagement , especially due to the successful integration with infrastructural parties like Chainlink, enhancing cross-chain capability and practical utility in finance.
FTX plans to commence a $5 billion second distribution to eligible creditors on May 30, 2025. FTX Trading Ltd. and the FTX Recovery Trust announced the upcoming distribution via a press release on May 15. The $5 billion set for distribution will go to holders of allowed claims under the collapsed crypto exchange’s Chapter 11 reorganization plan. This second tranche of distributions will cover eligible creditors in both the Convenience and Non-Convenience Classes. However, disbursement is limited to FTX creditors who have completed the required pre-distribution processes. (1/3) FTX today announced it is set to distribute more than $5 billion in its Second Distribution to holders of allowed claims in the Plan’s Convenience and Non-Convenience Classes that have completed the pre-distribution requirements on May 30, 2025. — FTX (@FTX_Official) May 15, 2025 Eligible creditors will receive funds from their distribution provider – either Bitgo or Kraken – within one to three business days starting May 30, 2025. After this phase of the Chapter 11 plan, FTX will issue an update on subsequent record and payment dates. The announcement of this second distribution follows the initial phase in February 2025 , with the record date for the next distribution having been scheduled for April 11, 2025. It included a record for allowed claims with Class 5 customer entitlement claims and Class 6 general unsecured claims. Also covered were holders of convenience claims that had been allowed but not yet received. FTX aimed for the second distribution on the date it just announced. John J. Ray III, plan administrator of the FTX Recovery Trust, noted in a statement: “These first non-convenience class distributions are an important milestone for FTX. The scope and magnitude of the FTX creditor base makes this an unprecedented distribution process, and today’s announcement reflects the outstanding success of the recovery and coordination efforts of our team of professionals. Our focus remains on recovering more for creditors and resolving outstanding claims.” The distribution will see creditors in allowed class 5A Dotcom Customer Entitlement Claims receive a 72% of funds, class 5B U.S. Customer Entitlement Claims 54% and classes 6A General Unsecured Claims and 6B Digital Asset Loan Claims 61% distribution. Meanwhile, those in allowed class 7 Convenience Claims are expected to get 120%. FTX collapsed in November 2022, imploding amid fraud by convicted company officials, including founder and former chief executive officer Sam Bankman-Fried . Amid the announcement, the FTX Token ( FTT ) spiked more than 13%, trading to highs of $1.33. When FTX imploded, FTT price nosedived from highs of $25 to $0.87 within days.
Stablecoin wallet MiniPay is now available as a standalone application on iOS and Android, available to users in over 50 countries. MiniPay is a lightweight, non-custodial stablecoin wallet built on Celo’s mobile-first Ethereum Layer-2 blockchain network and developed by Opera company Blueboard Limited. According to the press release, MiniPay enables users to send funds globally without complexities, as if sending an email or a text. Users can sign up using their phone number and a Google or iCloud account. This will also allow them to back up and restore their wallets. There are no seed phrases or wallet addresses, the team says A simple, mobile-first design with seamless onboarding and no crypto complexity. MiniPay is a stablecoin wallet that feels like an app, not a protocol – it’s as simple as this: 📲Send and receive with phone numbers 🔒Sign up restore with Google iCloud 🔄 Swap between… — MiniPay (@minipay) May 13, 2025 Furthermore, MiniPay allows free swaps between supported stablecoins via the Pockets feature. The latter was developed in partnership with Mento Labs . The announcement highlights that stablecoin support also serves as a safeguard against local fiat currency volatility. Next, Celo enables users to send stablecoins globally for less than $0.01. It also provides local payments in specific regions via Mini Apps for purchases, donations, music streaming, etc. Moreover, the team claims that its expanding partnership network enables moving between stablecoins and local currencies within a minute. Partners include Onramper, Transak, Binance, Unlimit, Yellow Card, Partna, Banxa, Fonbnk, Cashramp, and others. 7 Million Unique MiniPay Wallets to Date MiniPay was launched in September 2023 and was originally an integration in Opera Mini . Per the announcement, it has onboarded over 7 million unique wallets to date. Also, it has become the most downloaded browser in Africa. Notably, the release as a standalone app on Android in October added one million downloads. Therefore, the team expects that this latest move as well will boost the usage of stablecoins as an everyday, mainstream currency for global transfers, payments at local businesses, and savings. “MiniPay becoming a standalone app is a crucial step in helping people around the world access the global dollar system,” said Jørgen Arnsen, EVP Mobile at Opera. Users can send, receive, spend, and save money “anywhere in the world, and then put their funds to use in so many different ways within our growing ecosystem of Mini Apps. And no one needs to know the complexities of blockchain or crypto,” Arnsen says. With more than 7 million wallets created across 50+ countries, MiniPay users have access to an intuitive, low-cost platform to send, receive spend stablecoins instantly securely. All it takes is a phone number a Google or iCloud account to set up your non-custodial wallet. — MiniPay (@minipay) May 13, 2025 The team emphasizes that MiniPay and Celo provide a near-zero fee solution. This is particularly relevant in regions like Africa and Latin America, where remittance flows enable users to support their families and local economies. Additionally, the low-fee feature is necessary for freelancers, remote workers, and users in regions with volatile local currencies. “The MiniPay wallet and its ecosystem of Mini apps allow millions of users to transact with stablecoins for everyday activities like saving, spending, streaming music, or paying for groceries on terms they understand, and in local currencies they trust,” said Rene Reinsberg, Celo Co-Founder and Celo Foundation President. “As a standalone app, MiniPay and the Mini app ecosystem serve as the gateway to the new onchain economy, aligned with Celo’s mission to create prosperity for all,” Reinsberg concluded. Meanwhile, MiniPay recently announced integration with Binance Connect , the official fiat-to-crypto gateway by crypto exchange Binance .
President Trump has once again called on Fed Chair Jerome Powell to cut interest rates, but the crypto community doesn’t seem interested anymore. Rate cuts seem as unlikely as ever, but the market has new bullish narratives. Between a US-China trade deal, new investors, and technological advancements, recession fears have apparently left the crypto market. Trump Keeps Pushing for Rate Cuts When Trump’s tariffs threatened to disrupt the global economy, the crypto industry pinned its hopes on one bullish narrative: cuts for US interest rates. The US President repeatedly harangued Jerome Powell, even threatening to fire him before relenting, yet Powell and his allies were firm: this was not happening. Trump has continued asking, appealing to Powell again today: No Inflation, and Prices of Gasoline, Energy, Groceries, and practically everything else, are DOWN!!! THE FED must lower the RATE, like Europe and China have done. What is wrong with Too Late Powell? Not fair to America, which is ready to blossom? Just let it all happen, it will… — Donald J. Trump Posts From His Truth Social (@TrumpDailyPosts) May 13, 2025 Throughout these proceedings, the crypto industry repeatedly urged more rate cuts, claiming that the “money printer” would stave off economic collapse. Trump asked Powell to cut interest rates recently, but the latest FOMC meeting reaffirmed the status quo. How did crypto react to this? So far, it seems like it finally got the memo. Crypto-affiliated prediction markets like Kalshi have repeatedly posted optimistic odds of Trump’s rate cuts compared to TradFi assessors like the CME Group. For example, the last time Trump made this request, Kalshi predicted that three cuts would happen this year. At the time, this would have signified a cut at half of the year’s remaining FOMC meetings. In March, Kalshi even expected four! The CME, on the other hand, put over 98% odds on no cuts in May. Indeed, this scenario is what happened, and Kalshi has since lowered its expectations. It currently anticipates only two cuts for the rest of the year, much more in line with other firms’ predictions. How Many Interest Rate Cuts in 2025? Source: Kalshi What can crypto conclude from this? The community has apparently internalized that Trump can’t force cuts to interest rates. However, things are going well regardless. A US-China trade deal pushed Bitcoin over $105,000, investors are returning in droves, and technology is advancing. Fear has largely left investors’ calculations. Who needs rate cuts, anyway? All that is to say, Trump’s proposed interest rate cuts were just one way to potentially boost crypto investment. If Powell spontaneously changed his mind today, it’d be bullish, but as of now, the crypto market is slowly moving away from these macroeconomic drivers.
Shortly after Trump’s announcement about the India-Pakistan ceasefire, a loud explosion happened in Srinagar, India. Amidst the military conflicts, the stock markets of both nations experienced volatility. Will this war involving the fourth-largest economy have an impact on the digital asset market? The worst military confrontation prevailed for four days between the two nuclear-armed enemies, India and Pakistan. India announced “Operation Sindoor,” hitting nine sites in Pakistan and Pakistan-controlled Kashmir that it described as “terrorist infrastructure”. On May 10, on the Truth Social platform, Trump announced the ceasefire, calling it a win for both nations. But a shocking statement came from Omar Abdullah, the chief minister of J&K, after watching the loud explosions at Srinagar, India on Saturday night. After the two countries accused one another of “violations” mere hours after an agreement was made, it appears that the ceasefire between India and Pakistan lasted overnight into Sunday. Ceasefire Confirmation and Peace Efforts Pakistan’s Deputy Prime Minister Ishaq Dar confirmed the ceasefire, stating that his country is striving for peace and declaring its determination to safeguard its sovereignty when necessary. India’s external affairs minister, S. Jaishankar, also confirmed the end of military activities and the renewed Indian stand against terrorism. India and Pakistan have today worked out an understanding on stoppage of firing and military action. India has consistently maintained a firm and uncompromising stance against terrorism in all its forms and manifestations. It will continue to do so. — Dr. S. Jaishankar (@DrSJaishankar) May 10, 2025 The stock markets have been highly volatile due to the recent military moves. Following airstrikes by the Indian military forces in Pakistan, on 7th May, the Indian stock markets opened 0.59% lower at 24.23,3, which later recovered to a 24,414 level. On the flip side, the Pakistan stock market slipped by 5%. The Impact On the Crypto Market and Crypto Regulation Although the stock market experienced volatility, the crypto sector remained resilient after the announcement. Geopolitical uncertainties can sometimes lead to the fluctuation of the price of cryptocurrencies. When the Russia–Ukraine war happened in 2023, a decline in the price of cryptocurrencies was observed. Yet, Bitcoin and other cryptocurrencies appear as a secure investment for certain people, while others invest to reduce risks. Despite the ceasefire, digital assets keep soaring as these two nations have shown little progress in framing crypto laws. Global crypto regulations have been stressed during India’s tenure as the G20 president. The Finance Minister, Nirmala Sitharaman, has tried to encourage global standards in crypto transactions. She noted the need for a clear-cut and transparent deal for transferring digital assets, which involves tracking money flows and acquiring a clear description of everyone involved. Related: Bitcoin Jumps After Trump-UK Deal and BoE Rate Cut: Report At the same time, Pakistan has taken a new step toward cryptocurrencies. After a cautious pause, the government is turning towards introducing regulatory measures. In March 2025, the Pakistan Crypto Council (PCC) was established to develop regulatory frameworks for digital assets. The change reflects an increased readiness to adopt blockchain technology and digital asset adoption nationally. While the regulations are on the rivalry, the recent war has affected the stock market of the two nations. But crypto markets haven’t seen any major fluctuation as these nations aren’t involved in crypto like the US. Neither India nor Pakistan has enacted any solid regulations on cryptocurrency. As a result, the crypto industry continues to operate without being impacted by ongoing geopolitical tensions and the India-Pakistan ceasefire. The post India-Pakistan Tensions: Will It Impact the Crypto Market? appeared first on Cryptotale.
Key Points: Points Cover In This Article: Toggle Lede Nut Graph Body Section Section Section Talks led by Scott Bessent in Switzerland. Potential tariff adjustments discussed. Markets cautiously optimistic about future outcomes. US-China Economic Talks Progress in Switzerland Lede High-level economic talks between the US and China are underway in Switzerland, led by US Treasury Secretary Scott Bessent and Chinese Vice Premier He Lifeng. Nut Graph The talks highlight a cautious optimism for reducing trade tensions and could influence global market stability. Body Section US Treasury Secretary Scott Bessent and Chinese Vice Premier He Lifeng conducted high-level trade discussions in Switzerland. This meeting is part of efforts to address ongoing economic disputes between the two largest economies in the world. Scott Bessent, with his background in macroeconomic management, leads the US delegation, while He Lifeng, experienced in China’s economic planning, represents China. They aim to navigate complex tariff issues affecting bilateral trade relations. Section The talks could potentially ease tariff pressure, impacting global risk sentiment and asset markets. Past negotiations have seen cryptocurrencies like Bitcoin and Ethereum react to improving US-China relations, indicating possible increased asset volatility. Donald J. Trump, President of the United States, posted, “A very good meeting today with China, in Switzerland. Many things discussed, much agreed to. A total reset negotiated in a friendly, but constructive, manner. We want to see, for the good of both China and the U.S., an opening up of China to American business.” Section A reduction in tariffs may bolster economic growth and encourage foreign investment. This could lead to a stabilization in market sentiments and possibly a rally in Asian and global markets. Experts suggest that successful talks could drive growth in crypto markets, given the sector’s historical sensitivity to geopolitical tensions. A favorable outcome might boost confidence and liquidity across digital asset markets.
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