‍Chinese Firm Yuzhi Financial Accused of Crypto Ponzi Scheme Yuzhi Financial, a Chinese firm, is suspected of operating a Ponzi scheme via its HSEX virtual asset trading app. Investors were promised a fixed 1% daily profit on Bitcoin trades and recruitment bonuses, with advertised returns reaching 370.6% in 30 days. Users recently faced withdrawal freezes. The platform then imposed a 20% "self-proving margin" and increased withdrawal fees to 30%, indicating a potential "soft exit scam." This incident underscores the persistent fraud risks in the less-regulated digital asset market.
Cryptovka
Chinese Firm Yuzhi Financial Accused of a Crypto Ponzi Scheme
A Chinese financial company named Yuzhi Financial is under suspicion of orchestrating a Ponzi scheme disguised as a cryptocurrency trading operatio...
‍"Bitcoin Rodney" Faces 20 Years for $1.8B HyperFund Fraud Rodney Burton, known as "Bitcoin Rodney," faces up to 20 years in prison following an expanded indictment for his role in the alleged $1.8 billion HyperFund cryptocurrency fraud scheme. The superseding indictment includes 11 federal charges, including conspiracy to commit wire fraud, wire fraud, money laundering, and operating an unlicensed money transmitting business. Prosecutors claim Burton and co-conspirators promoted HyperFund and its successor platforms, like HyperVerse, from June 2020 to May 2024, promising investors daily returns of 0.5% to 1%. These returns were purportedly from non-existent mining operations. The SEC has characterized HyperFund as a pyramid and Ponzi scheme. Burton allegedly used proceeds for luxury items, including a yacht. Co-founder Sam Lee also faces charges, while promoter Brenda Chunga has pleaded guilty. Burton maintains he was also deceived, and his trial is set for March 2026.
Cryptovka
"Bitcoin Rodney" Faces 20 Years in Prison for $1.8B HyperFund Scheme
Rodney Burton, a cryptocurrency promoter widely known as “Bitcoin Rodney”, is facing the possibility of a lengthy prison sentence after a feder...
‍Bitcoin Price Under Pressure as Whales Utilize Covered Calls Long-term Bitcoin holders ("whales") are employing a covered call options strategy, creating sell-side pressure that is currently suppressing BTC's price despite strong demand from spot ETF investors. This derivatives market activity is contributing to choppy price action. The sale of call options allows whales to collect premiums, but necessitates hedging by market makers who sell spot Bitcoin, thereby pushing the price down. This cycle suggests the options market is dictating Bitcoin's trajectory in the short term. Additionally, Bitcoin has decoupled from stock market performance, and future price movements may heavily depend on U.S. Federal Reserve monetary policy. Analysts remain divided on Bitcoin's outlook, with predictions ranging from further declines to potential rallies driven by macroeconomic factors.
Cryptovka
Bitcoin Price Held Down by Whales Selling Covered Call Options
The price of Bitcoin is facing significant downward pressure, largely due to a specific options trading strategy employed by long-term holders, oft...
‍SEC Releases Crypto Custody Guide, Signaling Regulatory Shift The U.S. Securities and Exchange Commission (SEC) has published an investor bulletin on cryptocurrency custody, a move welcomed by the industry as a sign of a more constructive regulatory approach. The guide educates retail investors on storing digital assets, differentiating between self-custody and third-party solutions like hot and cold wallets. This initiative aligns with recent approvals for tokenizing traditional financial assets, suggesting broader integration of blockchain technology into mainstream finance. The SEC's shift towards investor education and facilitating tokenization marks a significant evolution in its stance on digital assets.
Cryptovka
SEC Publishes Crypto Custody Guide, Signaling A New Regulatory Era
The U.S. Securities and Exchange Commission (SEC) has released an investor bulletin detailing the fundamentals of cryptocurrency asset custody, a m...
‍Crypto Spot Volumes Drop 66% Amid Pre-Cycle Lull, Bitfinex Reports Cryptocurrency spot trading volumes have declined by 66% this quarter, a slowdown attributed to softer ETF inflows and macroeconomic uncertainty. Bitfinex suggests this lull is typical before the next upward trend. Trading activity has fallen from over $500 billion in November to around $250 billion recently. This reduction is seen as a historical precursor to new market cycle phases. Analysts note Bitcoin's tightening price structure, with potential breakout targets near $92,000-$100,000. However, recent Fed rate cuts had minimal impact as they were "priced in."
Cryptovka
Crypto Spot Volumes Plummet 66% in a Pre-Cycle Lull, Bitfinex Reports
Cryptocurrency spot trading volumes have experienced a dramatic 66% decline this quarter compared to their peak in January, according to an analysi...
‍Crypto Leaders Oppose Citadel's Push for Strict DeFi Regulations A coalition of crypto organizations, including Andreessen Horowitz and the Uniswap Foundation, has formally responded to Citadel Securities' call for stringent SEC regulations on tokenized stocks in DeFi. They argue Citadel's analysis of securities laws is flawed and misinterprets decentralized technology. The group contends that autonomous software, like smart contracts, cannot be classified as traditional financial intermediaries as they lack independent discretion. They believe innovation can be protected through thoughtfully designed on-chain markets without forcing DeFi into legacy regulatory frameworks. This debate could significantly shape the future of tokenization and its integration with capital markets.
Cryptovka
Crypto Leaders Slam Citadel
A coalition of prominent cryptocurrency organizations has formally pushed back against a request from Citadel Securities for the U. S....
‍Vanguard Analyst: Bitcoin is a "Digital Labubu" John Ameriks, senior analyst at Vanguard, has described Bitcoin as a speculative asset with little intrinsic value, comparing it to a collectible toy. He stated at a Bloomberg conference that Bitcoin is currently driven more by market sentiment than by fundamental utility. However, Ameriks conceded that Bitcoin could develop real-world use cases in scenarios involving high inflation or political instability. This comes as Vanguard recently began allowing clients to trade cryptocurrency funds, despite maintaining a cautious approach and offering no advisory support.
Cryptovka
Vanguard Analyst Compares Bitcoin to a Toy, Cites Speculation
John Ameriks, a senior analyst at Vanguard, has described Bitcoin as a speculative asset with little intrinsic value, comparing it to a collectible...
‍Bitnomial Secures CFTC Approval for Prediction Markets in the US The US Commodity Futures Trading Commission (CFTC) has approved Bitnomial Clearinghouse LLC for clearing fully collateralized swaps. This regulatory milestone permits Bitnomial to launch prediction markets and offer clearing services to third-party platforms, significantly expanding its derivatives offerings. Chicago-based Bitnomial will introduce markets for crypto and economic events, allowing speculation on token prices and macroeconomic data. This complements its existing suite of Bitcoin futures, options, perpetuals, and leveraged spot trading, with support for crypto-based margin and settlement. This development coincides with a surge in prediction market popularity. Platforms like Kalshi and Polymarket have seen substantial trading volumes. Bitnomial's success underscores a growing trend towards regulated crypto-financial products in the US, fostering a more sophisticated and supervised market for event-based derivatives.
Cryptovka
Bitnomial Receives CFTC Approval to Launch Prediction Markets in the US
The US Commodity Futures Trading Commission (CFTC) has granted approval to Bitnomial Clearinghouse LLC for clearing fully collateralized swaps....
‍Figure Tech Files for Second IPO to Issue Native Equity on Solana Figure Technology has filed with the SEC to issue its equity directly on the Solana blockchain. This initiative aims to create a new version of Figure equity that will trade on-chain through the company's alternative trading system, bypassing traditional intermediaries. This move highlights Solana's growing role in real-world asset (RWA) tokenization, offering high speed and throughput for financial applications. Figure's ambition is to build infrastructure for other companies to issue native equity on Solana, bridging traditional finance and DeFi.
Cryptovka
Figure Tech Files for Second IPO to Issue Native Equity on Solana
Figure Technology, a significant player in blockchain-based finance, has submitted a new filing to the U. S. Securities and Exchange Commission (SE...
‍US Unions Clash with Crypto Industry Over 401(k) Digital Asset Inclusion Major U.S. labor unions are opposing a bill that could allow digital assets in 401(k) retirement plans, citing "speculative risks" and "profound risks" to working families' savings. The American Federation of Teachers (AFT) and AFL-CIO argue that cryptocurrencies are too volatile and lack adequate investor protections, potentially exposing workers to significant losses and systemic risk to pension funds. Conversely, the crypto industry contends that the proposed legislation would improve market oversight and that digital assets, with proper regulation, can offer strong long-term returns and portfolio diversification. Proponents view the unions' opposition as misinformed and politically motivated. The debate highlights a conflict between financial innovation and investor protection, with significant implications for the future of retirement investing.
Cryptovka
Crypto in 401(k)s? US Unions and Crypto Industry Clash Over Bill
A significant disagreement has emerged in Washington, D.C., between major U.S. labor unions and the cryptocurrency sector over proposed legislation...