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Business Wire
6 days ago
- Business
- Business Wire
BitGo Accelerates Institutional Crypto Adoption with Strategic Expansion of Go Network Off-Exchange Settlement
NEW YORK--(BUSINESS WIRE)--BitGo, the leading provider of secure digital asset infrastructure, today announced a significant expansion of its Go Network Off-Exchange Settlement (OES) platform welcoming HTX, KuCoin, and This integration empowers institutional clients to securely access some of the industry's most liquid venues, reinforcing BitGo's leadership in shaping a safer, more mature digital asset market. The integration of HTX, KuCoin, and provides institutional clients with access to a wide spectrum of trading products, including spot, margin, options, and futures, and liquidity without requiring clients to move and hold assets on exchange 1. Assets are safeguarded in regulated cold custody, insured up to $250M, where clients retain complete control and ownership of them. Trades are then settled automatically within BitGo's regulated custody rails with OES partners using Go Network, enhancing operational efficiency by reducing friction and increasing transparency. By decoupling custody from trading, institutional clients now gain stronger safeguards against exchange failures, fraud and hacks. As the industry continues to shift towards risk-mitigated trading solutions, BitGo is actively meeting this demand by providing the secure and compliant infrastructure essential for broad institutional adoption and sustainable growth. The continuous evolution of Go Network underscores BitGo's commitment to building a robust, resilient foundation for institutional engagement in crypto, and positions BitGo at the forefront of driving much-needed structure change. Mike Belshe, CEO of BitGo, said, 'Institutional demand for digital assets is rising across every region, but global adoption won't scale without a secure and interoperable foundation. With Go Network, BitGo is enabling cross-market settlement that's fast, secure, and accessible—giving institutions worldwide the confidence to engage in crypto markets at scale. We're creating infrastructure that not only works for today's institutions, but anticipates tomorrow's regulatory standards.' The Go Network ecosystem has seen consistent growth this year through partnerships with Copper's ClearLoop and Crossover Markets' Electronic Communication Networks, enabling access to Deribit and CROSSx, respectively. BitGo will continue to build on this momentum by expanding its Go Network partners, with the addition of strategic venues to be announced soon, reflecting BitGo's vision for an interconnected, secure, and efficient global digital asset trading environment. About BitGo BitGo is the leading infrastructure provider of digital asset solutions, delivering custody, wallets, staking, trading, financing, and settlement services from regulated cold storage. Since our founding in 2013, we have focused on enabling our clients to securely navigate the digital asset space. With a large global presence through multiple regulated entities, BitGo serves thousands of institutions, including many of the industry's top brands, exchanges, and platforms, as well as millions of retail investors worldwide. As the operational backbone of the digital economy, BitGo handles a significant portion of Bitcoin network transactions and is the largest independent digital asset custodian, and staking provider, in the world. For more information, visit
Yahoo
05-06-2025
- Business
- Yahoo
Shiba Inu Breaks High-Volume Support, PepeCoin Fails to Top 200-Day Average
Memecoins Shiba Inu (SHIB) and PepeCoin (PEPE) have disappointed bulls over the past 24 hours, suggesting a risk-off mood in the broader crypto market. SHIB experienced significant price volatility, reaching a peak of 0.00001336 before declining to 0.00001297, with notable high-volume support emerging at the 0.00001310 level overnight. The support was breached soon before press time, penetrating the bullish upward-sloping higher lows pattern, marking a recovery from the May 31 low of 0.00001226. The breakdown follows an overnight surge in the SHIB burn rate, which increased by nearly 140%, removing 39.49 million tokens from circulation. Furthermore, open interest in SHIB derivatives increased by 2.03% to 11.36 trillion SHIB (approximately $158.65 million), with leading with 54.18% of the total open interest. SHIB exhibited significant price volatility over the 24-hour period, reaching a peak of 0.00001336 during the 14:00 hour on June 3rd before declining to a low of 0.00001297 at 21:00, representing a range of 0.00000039 (2.96%). Notable high-volume support emerged at the 0.00001310 level during the 01:00 hour on June 4th, with volume exceeding 573B, well above the 24-hour average of 276B. (The high-volume support was breached soon before press time.) The price action formed a descending channel from the 15:00 peak, with resistance at 0.00001320 repeatedly tested and rejected, suggesting continued bearish pressure despite the recent consolidation between 0.00001310-0.00001315. Volume spiked significantly at 08:02 with over 14.9B SHIB traded, nearly triple the hourly average, confirming strong buying interest. PEPE's recovery from the May 31 lows gained momentum on Tuesday, but sellers eventually overpowered buyers near the 200-day SMA resistance, pushing the market valuation back to $5.2 billion. The rejection at the 200-day SMA could invite more selling, potentially yielding a re-test of the 50-day SMA support at $4.64 billion. That said, the 50-day SMA has recently crossed over the 100-day SMA and is trending upward, hinting at a broader bullish shift in momentum. So, potential dips could be short-lived.
Business Mayor
24-05-2025
- Business
- Business Mayor
Pi Coin News: Insider Turmoil and Token Surges Shake Pi Network As Transparency Demands Grow Louder
Pi Network's community, once united by its vision of a mobile-mined, egalitarian cryptocurrency, is increasingly fragmented. In mid-May 2025, over 102.7 million Pi tokens were suddenly withdrawn from cryptocurrency exchange OKX in just three days, sparking volatility and suspicion of insider activity. The surge in Pi Coin transactions—some exceeding 70 million tokens per move—has heightened fears of centralisation and lack of transparency within the Pi Network, even as its token, priced at approximately $0.79, continues to fluctuate sharply from its early 2025 peak of $2.99. Blockchain researchers and analysts now point to troubling signs of internal wallet manoeuvring according to a report by Brave New Coin. These include reports of dormant Foundation-controlled wallets reactivating and selling millions of tokens, further fuelling scepticism over whether Pi Network is truly decentralised, as it has long claimed to be. Key Developments: Price Instability, Insider Concerns The Pi Coin has dropped over 4.8 per cent in the past 24 hours, despite showing a 30 per cent monthly gain. Analysts argue that large-scale token unlocks and strategic sell-offs are depressing the price and creating instability. The token is now facing strong resistance around the $0.90 mark and could dip as low as $0.66 if selling pressure intensifies, warns citing bearish flag patterns on trading charts. 'The PI Coin value is forming a bearish flag,' reported 'with the risk of a drop toward $0.66 if selling pressure intensifies.' Meanwhile, Dr. Altcoin, a well-known blockchain investigator, flagged that more than 1.4 million Pi tokens were sold on from a wallet allegedly linked to the Pi Foundation, raising red flags.'It's not about FUD,' said Dr. Altcoin on X, 'It's about accountability, transparency, and fair participation in a network that has claimed to be for the people.' He further estimates that wallets believed to be under the control of the Pi Foundation currently hold more than 90 billion tokens. Planned Unlocks Stir Market Fears Adding to concerns is the scheduled unlocking of over 1.47 billion Pi tokens in the next 12 months, with 110 million already released in May 2025. While part of a previously announced tokenomics roadmap, the scale and timing of these unlocks—coinciding with insider activity—are shaking investor confidence. '1.4 million Pi moved from an old Foundation wallet to a new one, then sold on insider concerns,' stated Dr. Altcoin, citing on-chain transaction data. Community Frustration Grows Amid Transparency Demands Pi Network's community, once united by its vision of a mobile-mined, egalitarian cryptocurrency, is increasingly fragmented. Longstanding issues with Know Your Customer (KYC) processes, limited utility, and the absence of a mainnet migration for most users have resulted in mounting dissatisfaction.'There are no substantial DeFi projects or dApps built on Pi crypto yet,' a market commentary cited by Brave New Coin noted, adding that, 'Without real use cases, the Pi token price will struggle to sustain any meaningful upside.' Despite launching a $100 million venture fund for dApp development, the Pi Network still lacks key listings on major exchanges like Binance, further reducing liquidity and trader interest. Optimism Endures—But So Do Doubts Some supporters remain hopeful. Crypto influencer Mr. Spock commented that,'While doubters watched from the sidelines, true Pioneers kept mining, building, and believing — and now, the results are beginning to show,' as quoted by Brave New Coin. Another user added, 'This is no longer a testnet experiment—Pi Network Coin is stepping into the real world.' However, until the Core Team addresses issues around token distribution, wallet transparency, and ecosystem utility, Pi Network risks losing trust at a critical juncture of its growth. Analysts warn that future performance will hinge on whether these structural weaknesses are tackled head-on. READ SOURCE
Business Upturn
23-05-2025
- Business
- Business Upturn
XRP News: Join XenDex Presale Before Listing $XDX On Top Exchanges As Ripple Moves To Acquire Circle
By GlobeNewswire Published on May 24, 2025, 00:50 IST SYDNEY, May 23, 2025 (GLOBE NEWSWIRE) — Ripple is reportedly moving to acquire Circle, the issuer behind stablecoin USDC and the excitement around the XRP ecosystem is reaching new heights. And as XRP's strategic momentum builds, XenDex is quickly becoming the most anticipated DeFi launch on the XRP Ledger. With just 5 days left in its presale, the window to purchase $XDX tokens at early-bird pricing is rapidly closing. Early adopters are rushing in to secure tokens before listings go live on major exchanges like Binance, BitMart, MagneticX, MEXC, and FirstLedger. Purchase $XDX At A low Price & Earn Rewards What is XenDex on XRP Blockchain? XenDex is the first all-in-one decentralized exchange (DEX) built entirely on the XRP Ledger, delivering high-speed, low-cost trading while integrating next-gen DeFi functionalities previously missing from XRPL. It's built to empower both everyday traders and seasoned crypto investors. Features and Problems XenDex Aims to Solve on XRP Ledger Despite XRP's speed and scalability, it lacks essential DeFi utilities. XenDex addresses these gaps with: AI Copy Trading – Mirror expert trades in real-time – Mirror expert trades in real-time Lending & Borrowing – lend or borrow your crypto assets – lend or borrow your crypto assets Cross-Chain Trading – Swap tokens between XRP and Solana, BNB, and Ethereum – Swap tokens between XRP and Solana, BNB, and Ethereum DAO Governance – Let $XDX holders vote on major platform decisions Buy $XDX At Discount Price Advantages of $XDX The $XDX token powers XenDex and rewards its holders with: Voting rights for platform governance Staking and liquidity farming rewards Trading fee discounts Exclusive airdrops and early feature access Where Can I Trade $XDX? After the presale, $XDX will launch on top exchanges, including Binance, MEXC, BitMart, MagneticX, and FirstLedger, increasing visibility and global access. Is XenDex a Legit Project on XRP? Yes — XenDex is backed by a dedicated crypto-native team with experience on SUI and Cardano. The project is undergoing audits, also it integrates with trusted XRPL partners like Xaman and XRP Toolkit, and operates transparently with a long-term vision. Buy $XDX Before Listing On Top Exchanges How Do I Buy $XDX? Visit: Minimum Buy: 150 XRP Rate: 1.25 XRP = 10 XDXSetup Wallet: Use Xaman for trustline setup How To Buy Link: XenDex Presale Details Soft Cap: Filled Filled Hard Cap: Nearly Filled Nearly Filled Presale Rate: 150 XRP = 1200 $XDX 150 XRP = 1200 $XDX Time Left: 5 Days Remaining Join XenDex Community Website: Presale: Telegram: Twitter: Docs: Contact:Frank Richards [email protected] Disclaimer : This is a paid post provided by XenDex. The statements, views, and opinions expressed in this content are solely those of the content provider and do not necessarily reflect the views of this media platform or its publisher. We do not endorse, verify, or guarantee the accuracy, completeness, or reliability of any information presented. We do not guarantee any claims, statements, or promises made in this article. This content is for informational purposes only and should not be considered financial, investment, or trading advice. Investing in crypto and mining-related opportunities involves significant risks, including the potential loss of capital. It is possible to lose all your capital. These products may not be suitable for everyone, and you should ensure that you understand the risks involved. Seek independent advice if necessary. Speculate only with funds that you can afford to lose. Readers are strongly encouraged to conduct their own research and consult with a qualified financial advisor before making any investment decisions. However, due to the inherently speculative nature of the blockchain sector—including cryptocurrency, NFTs, and mining—complete accuracy cannot always be guaranteed. Neither the media platform nor the publisher shall be held responsible for any fraudulent activities, misrepresentations, or financial losses arising from the content of this press release. In the event of any legal claims or charges against this article, we accept no liability or responsibility. Globenewswire does not endorse any content on this page. Legal Disclaimer: This media platform provides the content of this article on an 'as-is' basis, without any warranties or representations of any kind, express or implied. We assume no responsibility for any inaccuracies, errors, or omissions. We do not assume any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information presented herein. Any concerns, complaints, or copyright issues related to this article should be directed to the content provider mentioned above. A photo accompanying this announcement is available at Disclaimer: The above press release comes to you under an arrangement with GlobeNewswire. Business Upturn takes no editorial responsibility for the same. GlobeNewswire provides press release distribution services globally, with substantial operations in North America and Europe.
Yahoo
21-05-2025
- Business
- Yahoo
What are Trump's guests getting from $148m crypto dinner?
A procession of black-tie guests is expected to arrive at Trump National Golf Club in Washington, DC on Wednesday – not traditional political donors, but cryptocurrency holders whose anonymous digital wallets filled with memecoins have secured them access to an exclusive gala dinner with the US president himself. The guest list consists of the top 220 holders of the Official Trump memecoin trump-official (TRUMP-OFFICIAL-USD), who collectively spent an estimated $148m (£110.72m) acquiring the token in the hope of securing face time with Donald Trump. The event has stirred controversy over claims of crypto-fuelled political influence, with critics calling it 'pay-to-play 2.0' and watchdogs demanding federal scrutiny. Read more: Crypto live prices But for those attending, the question remains: What are they gaining in return? Trump first announced the exclusive dinner in April, promising an invitation to his private club for the top 220 $TRUMP token holders and a VIP experience for the top 25. The announcement sent the memecoin soaring, with prices jumping over 60% in a single day. Many purchases were executed through crypto exchanges like and Bybit — platforms that block US customers — suggesting that some buyers may be foreign nationals or US citizens using offshore accounts. Despite the secrecy surrounding wallets and identities, all guests are set to receive a commemorative $TRUMP non-fungible token (NFT) minted on Solana and, for the top-tier holders, a private White House tour the following day — access typically reserved for diplomats and heads of state. So what's really on offer for these blockchain-backed guests? Beyond the NFT and a photo op, attendees may be chasing high-level access, and according to Nansen analyst Nicolai Sondergaard, the event is primarily a networking opportunity. "While there may be potential to gain some informational advantages, there are in my opinion, no other clear or substantial benefits beyond that," Sondergaard told Yahoo Finance UK. The dinner may also offer early intelligence on potential regulatory rollbacks and introductions to crypto policy insiders. The holders of the top 25 wallets will attend a VIP reception and a private White House tour. It's an unprecedented offering that blurs the lines between spectacle, tech innovation, and political fundraising. However, this access comes with growing ethical scrutiny. Senators Elizabeth Warren and Adam Schiff have formally called for a federal investigation, labelling the event a 'pay-for-access scheme' that may violate the US Constitution's Emoluments Clause. Watchdog group has echoed these concerns, citing links between the token proceeds and CIC Digital, an affiliate of the Trump Organization. Read more: How Trump and Melania meme coins are performing after 100 days In a statement to the House of Representative's financial services committee, president of president Caroline Ciccone said: "The blurring or erasing of the line between Donald Trump's personal interests and the Executive Branch's agenda risks a true pay-to-play administration." Trying to identify the true identities of the top token holders is no easy task. Blockchains are transparent, but the people behind crypto wallets often are not. Still, on-chain analytics firm Nansen has sifted through the data to offer some clues. The leading wallet on the Trump memecoin leaderboard is labelled "SUN", sparking speculation that it belongs to Chinese-born crypto mogul Justin Sun, founder of the TRON (TRX-USD) blockchain. 'Crypto Twitter is speculating that this is Justin Sun, but we were not able to find any immediate connection to wallets we've already labeled as being owned by him," Sondergaard said. 'It holds a substantial amount of TRX and interacts with HTX-labelled wallets — formerly Huobi — but that's not enough to validate ownership.' The second-largest holder, dubbed 'MeCo', appears to be associated with MemeCore, a Singapore-based layer-1 blockchain team. The wallet was funded by a Binance account 20 days ago and contains $TRUMP and a small amount of Solana (SOL-USD). 'It's not a singular person but rather an organization behind MemeCore. There's been some fun finger-pointing suggesting the wallet could be linked to Justin Sun, but that may just be in jest," Sondergaard added. Read more: Trending tickers: Nvidia, Alibaba, Novavax, Ryanair and Diageo The third wallet, 'CASE", was funded through Wintermute, a leading crypto market maker. Sondergaard believes this could have been an over-the-counter (OTC) transaction, saying: 'It might be someone at Wintermute, but I lean more toward the idea that it was a private sale.' Like others, the wallet only holds $TRUMP and SOL tokens. Two more wallets, 'GAnt' and 'REKT,' round out the top five. Both are newly created, with GAnt funded via a Binance wallet and later transferring assets to Coinbase. REKT received funds from ChangeNOW, a non-KYC exchange, and also made a withdrawal from Binance. Their anonymity underscores a broader concern, that significant funds have entered the US political landscape through untraceable, foreign-friendly channels. While some token holders are about to dine with a former president, most investors haven't been so fortunate. Since the dinner announcement, over 20 million TRUMP tokens – worth roughly $280m – have flowed into wallets, with $109m exiting, according to Nansen. But the trading frenzy hasn't translated into widespread profits. "The data tells a cautionary tale," Sondergaard said. 'Despite over 2,600 traders participating, 70% have realised losses. Total losses since the announcement exceed $21m — dwarfing profits during the same period.' Even media attention has waned. Google (GOOG) Trends shows that searches for the TRUMP token have declined since its initial launch on the weekend before Trump's January 20 inauguration. "Volume is still high and the token is actively traded,' Sondergaard said, 'But much of that may be driven by those racing to make the leaderboard before the dinner deadline." Read more: Why pension funds are buying bitcoin What we know about Elon Musk's controversial blockchain vision for US How AI could change the internet
