Bitcoin price rally stalls at $110,000 after strong US employment data, with big overhead resistance at $112,000 and several key support levels below. Key takeaways: Bitcoin’s multiple rejections from $110,000 signal the bulls’ inability to sustain higher prices. BTC price may drop as low as $105,000 in the short term if key levels are lost. Read more
Daniel Ianello has asked a Tennessee court to dismiss a lawsuit accusing him of orchestrating an exit scam after taking over a crypto project. Daniel Ianello, a man accused of orchestrating an exit scam involving a crypto project known as The Phoenix, has filed a motion to dismiss a lawsuit brought against him in a Tennessee federal court. According to the complaint, Ianello took over Phoenix Community Capital in October 2022 and allegedly executed an exit scam. After taking control of The Phoenix’s (FIRE) assets, he allegedly shut down its smart contracts. Plaintiffs claim he then “moved hundreds of thousands of dollars in investor money, began deleting posts on Discord […] deleted earlier versions of Phoenix’s website, and announced the ‘smart contracts’ would not be restored.” Read more
Bitcoin has historically posted double-digit gains in the weeks following the passage of major US debt-expanding bills. Will 2025 follow the same pattern? Key points: Bitcoin gained 38% when US President Trump signed a major spending bill in late 2020. Doing so again would put BTC/USD at $150,000 as Trump prepares to sign his “Big Beautiful Bill” into law. Read more
After sentencing the three kidnappers to 12 years each and ordering civil damages, the court noted that the masterminds behind the attack remain at large. A Belgian court has sentenced three people for their roles in a cryptocurrency-related kidnapping targeting the wife of local crypto entrepreneur Stéphane Winkel. The Brussels Criminal Court handed down 12-year prison sentences to three kidnappers who attacked Winkel’s wife in December 2024, local news agency La Dernière Heure reported on Thursday. The criminals were convicted of hostage-taking after abducting the victim outside her home, forcing her into a van and demanding a ransom in cryptocurrency. Read more
Crypto bettors have staked millions on whether the outfit technically counts as a suit, while a renowned fashion industry commentator hasn’t helped, calling it “both a suit and not a suit.” Ukrainian President Volodymyr Zelenskyy’s outfit at a June 24 NATO meeting in the Netherlands has become the focal point of a fierce dispute between Polymarket bettors. A user on Polymarket, a crypto-based prediction platform, created a betting market that asked whether Zelenskyy would wear a suit before July. To settle the bet, a photo or video must show Zelenskyy wearing a suit between May 22 and June 30. The market racked up nearly $79 million in volume. The result initially landed on “yes,” but has been disputed twice since and now awaits a final decision. Read more
The victim of a $20 million crypto scam who sued Citibank last week for allegedly ignoring “red flags” has filed a similar complaint against two more banks. The self-claimed victim of a crypto romance scam who recently sued Citibank for failing to catch red flags has just filed a second lawsuit targeting two other banks. Michael Zidell sued East West Bank and Cathay Bank in a California federal court on Tuesday, accusing the banks of turning “a blind eye to their statutory duties and obligations.” He claimed he sent 18 transfers totalling nearly $7 million to the alleged scammers’ account at East West Bank, and made 13 transfers totalling over $9.7 million to an account at Cathay Bank. Read more