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Breaking: Celsius Founder Alex Mashinsky Hit With a 12-Year Prison Sentence for Crypto Fraud
Alex Mashinsky, the founder and former CEO of defund lending protocol Celsius (CEL), was sentenced to a 12-year prison term on Thursday, May 8. The United States District Judge John G. Koeltl at Manhattan’s Southern District noted that Mashinsky undertook a sweeping scheme to defraud investors. The 12-year prison term was not what the federal …
Steve Muchoki·9 May 20252 min
SEC Files Settlement Agreement Letter: Here is What Next for XRP Price and Ripple Labs
The United States Securities and Exchange Commission (SEC) filed a settlement agreement letter with U.S. District Court Judge Analisa Torres regarding the longstanding litigation against Ripple Labs. As a result, the SEC vs. Ripple lawsuit is officially closed after more than four years of relentless legal battles. Following the settlement agreement letter, Judge Torres needs …
Steve Muchoki·9 May 20252 min
Why is the Crypto Market Rising Today, May 8?
The total crypto market cap gained more than 4 percent in the last 24 hours to hover about $3.25 trillion on Thursday, May 8, during the late North American trading session. Bitcoin (BTC) price surged over 5 percent to reach a local high of about $101,784. The wider altcoin market recorded double percent digit gains …
Steve Muchoki·9 May 20252 min
Coinbase To Acquire Deribit Exchange for $2.9B: Here is What it Means for Crypto Market
Coinbase Global, Inc. (NASDAQ: COIN), a veteran cryptocurrency exchange based in the United States, announced that it has agreed to acquire Deribit, a top-tier derivatives exchange. According to the announcement, Coinbase is acquiring Deribit for $2.9 billion, which will include $700 million in cash and 11 million in shares. Meanwhile, Coinbase announced that the deal …
Steve Muchoki·8 May 20252 min
Robinhood Plans to Build Blockchain Tokenization Platform to Enable EU Investors to Access U.S. Stocks
Robinhood Markets, Inc. (NASDAQ: HOOD), an established electronic trading platform, is ostensibly planning to develop a blockchain tokenization platform to enable European retail investors to participate in the United States securities market. Reportedly, Robinhood plans to collaborate with Arbitrum (ARB) and Solana (SOL) networks to enable the tokenization of U.S. securities. Currently, Robinhood provides cryptocurrency …
Steve Muchoki·8 May 20251 min
NewsOCC Approves Banks to Handle Crypto Assets: Key Takeaways and Market Impact
The United States Office of the Comptroller of the Currency (OCC) announced on Wednesday, May 7, that national banks and federal savings associations can participate in crypto asset custody and trading services. According to the published Interpretive Letter 1184, banks may buy and sell crypto assets held in custody at the customer’s direction. Additionally, the …
Steve Muchoki·8 May 20251 min
Altseason Watch: Will Altcoins Rally in 2025 After Fed Chair Announced Further Quantitative Tightening (QT)
The hopes for an altcoin rally in the near future were shattered on Wednesday after the Federal Reserve held its benchmark lending rate unchanged at between 4.25 and 4.5 percent. According to the announcement, the Federal Reserve Committee will continue to reduce its holdings of Treasury securities, agency debt, and agency mortgage-backed securities. The midterm …
Steve Muchoki·8 May 20251 min
Price AnalysisU.S. Fed Leaves Lending Rate Unchanged Amid Executive Pressure: What Next for Bitcoin Price?
The Federal Reserve maintained its lending rate between 4.25 and 4.5 percent on Wednesday, May 7. The Fed downplayed the immense pressure from the U.S. President Donald Trump to lower its benchmark interest rates, as the committee continues to judge the risks of higher unemployment and inflation caused by the ongoing trade wars. According to …
Steve Muchoki·8 May 20252 min
Chainlink Price Analysis: When Will LINK Retest $19?
Chainlink (LINK) price has been battling short-term bearish sentiment after recording an impressive bullish breakout in April 2025. The mid-cap altcoin, with a fully diluted valuation of about $13.4 billion and a 24-hour average trading volume of about $261 million, had dropped around 9 percent in the last seven days to trade at $13.43 on …
Steve Muchoki·7 May 20252 min