John Woeltz and William Duplessie reportedly pleaded not guilty to the kidnapping and false imprisonment of Michael Valentino Teofrasto Carturan in New York City. Two of the men charged with the kidnapping and torture of a cryptocurrency holder visiting New York City have reportedly pleaded not guilty to all counts. In a Wednesday hearing in the New York Supreme Criminal Court, John Woeltz and William Duplessie pleaded not guilty to kidnapping and false imprisonment of Michael Valentino Teofrasto Carturan, Reuters reported. The two men are accused of abducting the tourist, who was apparently a friend, from New York City and administering electric shocks, beatings, and other forms of torture in an effort to gain access to his crypto wallet. Read more
Bitcoin's recent rally occurred as funding rates turned negative, and BTC held on exchanges and OTC desks shrank. Key takeaways: Bitcoin onchain data shows a steady depletion of exchange and OTC balances, pointing to long-term accumulation and tightening supply. With BTC open interest near record highs and liquidity drying up, the market is tightly coiled, raising the probability of a sharp move. Read more
Bitcoin technical charts and encouraging US macroeconomic data could trigger a rally to $115,000. Key takeaways: Bitcoin investor sentiment hits a seven-month high, with a bullish pennant forecasting a rally to $115,000. Wednesday’s CPI print and the chance for a lower-than-expected PPI on Thursday could drive BTC price higher. Read more
Lawmakers asked Mark Zuckerberg whether Meta had had any influence on the GENIUS stablecoin bill and its plans to potentially issue its own digital currency. Update (June 11 at 10:50 pm UTC): This article has been updated to include a previous statement from Meta. With the US Senate expected to vote on legislation to regulate payment stablecoins soon, two senators called on Meta CEO Mark Zuckerberg to answer questions about the company’s potential plans to introduce another stablecoin. In a Wednesday letter to Zuckerberg, Senators Elizabeth Warren and Richard Blumenthal said it was “more critical than ever that Congress and the public fully understand the extent of Meta’s plans” for stablecoins, given the size of the tech company and the expected vote on the GENIUS Act in the Senate. Read more