Author: James Wilson
Nasdaq and S&P 500 climbed, while Dow Jones was down as trade, weak jobs data fueled hopes of lower interest rates. U.S. stocks were mixed amid positive news on U.S. trade deals and a weaker labor market. On Wednesday, June 2, the Dow Jones declined 40 points, or 0.10%, while the S&P 500 rose 0.33%. The tech-heavy Nasdaq rose the most, up 0.78%, due to hopes that the Federal Reserve might cut rates sooner than expected. Fueling the hopes of a rate cut was positive news on trade. U.S. President Donald Trump claimed that he reached a preliminary trade deal…
Ethereum co-founder Vitalik Buterin called out the growing trend toward centralization in the crypto industry. Decentralization is at the core of blockchain technology, but the industry is losing sight of it. At the annual Ethereum Community Conference on Wednesday, June 2, Ethereum co-founder Vitalik Buterin called out the growing trend toward centralization in crypto. While a vision of privacy, freedom, and transparency fueled early crypto, things could take a different turn, Buterin cautioned. He drew a parallel with Web 1.0, the early version of the internet, which evolved into something very different from its original ideals. “And I mean, a…
SEC Chairman Paul Atkins stated that the regulator remains focused on combating fraud in emerging sectors such as crypto and flaggedconcerns regarding individual access to private credit markets. In an appearance on CNBC’s “Squawk Box” on Wednesday morning, Securities and Exchange Commission Chairman Paul Atkins commented on crypto market manipulation, insider trading, and investor protection in the context of expanding private investment access. CNBC Atkins responded to a question about the lack of major insider trading cases involving cryptocurrencies, despite signs of coordinated trading activity on messaging apps such as Telegram and Signal. The discussion referenced the brief launch of…
The native token of the layer-1 blockchain Sui has traded sideways over the past few weeks, raising questions about whether it will rebound or extend its losses into July. Trading around $2.71 at press time, SUI (SUI)has struggled to regain bullish momentum since slumping from its highs earlier this year. Despite recording a modest 1.4% uptick in the past 24 hours, SUI remains under pressure, dropping 15.5% over the past 30 days, approximately 22.9% from this month’s peak of $3.50, and 48.1% below its all-time high of $5.20. SUI’s decline appears to be driven by a mix of technical and…
Injective is launching its native EVM testnet, allowing developers to run Ethereum-compatible apps directly on its blockchain. On July 2, Injective (INJ) announced that its native Ethereum Virtual Machine testnet will go live tomorrow, allowing developers to run Ethereum-compatible decentralized applications directly on its Layer 1 blockchain. The launch follows the company’s January announcement about integrating a native EVM to expand its smart contract capabilities and improve interoperability with the Ethereum (ETH) ecosystem. The native EVM is fully integrated into Injective’s core architecture, enabling seamless execution of Ethereum smart contracts without relying on external interoperability layers. “Unlike rollups or external…
Disclosure: The views and opinions expressed here belong solely to the author and do not represent the views and opinions of crypto.news’ editorial. Crypto headlines celebrate zero-knowledge rollups and ordinal NFTs. Yet, the biggest leak in the funnel is still the identity check—rigid KYC demands drive 70% of prospects to quit before depositing a cent. That abandonment is pure, unrecoverable marketing burn. Fintechs that treat onboarding as a growth metric tell a different story: a neobank that trimmed forms, added progress indicators, and watched abandonment fall from 62% to 27% while verification time halved. Signicat puts a price tag on…
PENGU, the Solana-based token associated with the Pudgy Penguins NFT collection, has jumped 64% over the past week, climbing another 13% in the last 24 hours. Due to the recent rally, Pudgy Penguins (PENGU) is now one of the top weekly performers and has re-entered the top 100 cryptocurrencies by market capitalization. The token is still 77% below its December 2024 peak of $0.06845 despite the gains. The recent surge follows growing interest in a proposed exchange-traded fund that would combine exposure to Pudgy Penguins NFTs and PENGU tokens. On June 25, the Cboe BZX Exchange filed a 19b-4 form…
United States authorities have sanctioned a crypto wallet linked to Russia-based Aeza Group, accused of enabling ransomware operations and darknet markets. According to the Treasury’s Office of Foreign Assets Control (OFAC), the designation targets Aeza Group’s entire cyber infrastructure, including affiliated entities and four individuals in leadership roles. The group allegedly offered bulletproof hosting services that allowed ransomware operators, malware distributors, and darknet vendors to operate with impunity by evading detection and law enforcement. The sanctions extend to Aeza International Ltd., a UK-based front company used to lease IP addresses to cybercriminals, as well as two Russia-based subsidiaries, Aeza Logistic…
A little-known SEC consultation could scrap months of bureaucratic delays for crypto ETFs. Instead of dual filings, issuers may soon need just an S-1 and patience, setting the stage for an unprecedented wave of listings. FOX Business reporter Eleanor Terrett has uncovered early discussions between SEC officials and major exchanges about creating standardized listing rules for crypto ETFs. The potential overhaul could fundamentally change how these funds reach the market. Instead of navigating the bureaucratic maze of 19b-4 approvals, issuers might only need to file an S-1 registration and endure a 75-day waiting period. What’s catching industry observers’ attention is…
Bitcoin and altcoin prices could stage a strong rally in July after a surprise statement from Jerome Powell, the Federal Reserve Chair. In a statement, Powell changed his tune on when the Fed will start cutting interest rates. For the first time this year, he did not rule out slashing rates as soon as in the July meeting. He said: “I really can’t say. It’s going to depend on the data. And we are going meeting by meeting. I wouldn’t take any meeting off the table or put it directly on the table. It’s going to depend on how the data…