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As May 2024 unfolds, the cryptocurrency market continues to experience the effects of the Bitcoin (BTC) halving event that occurred in April, traditionally a bullish catalyst for Bitcoin and the wider cryptocurrency landscape. This ongoing bullish sentiment particularly benefits several cryptocurrencies on the verge of significant market cap milestones, notably the $100 billion mark.  Consequently, Finbold has identified two cryptocurrencies likely to surpass this threshold. Picks for you Solana trader turns $49,000 into $2 million in 5 hours 8 mins ago ‘Final warning’ as Bitcoin faces imminent devastating capitulation 1 hour ago Popular Bitcoin wallet bans United States citizens from its service 2 hours ago Has Bitcoin topped out? Peter Brandt signals potential end of bull run 2 hours ago These assets are nearing the milestone, with their trajectory depending on the continuation of the bull run and supply inflation. High supply inflation co...

Binance, the world’s largest cryptocurrency exchange by trading volume, has converted its $1 billion Secure Asset Fund for Users (SAFU) into USDC. The total SAFU fund is $1 billion , which is around 3% of the total circulating supply of USDC. Established in 2018, SAFU is designed to protect Binance users against potential losses due to operational risks or security breaches. By transitioning the entirety of SAFU’s reserves into USDC, this strategic shift aims to enhance the reliability and stability of the fund. Thus, marking a pivotal step in fortifying the exchange’s risk management framework. Today, all SAFU assets will be converted to $USDC, bolstering reliability and stability at $1bn. Read more https://t.co/Dggl3CdQYU — Binance (@binance) April 18, 2024 SAFU fund’s background and rationale for the conversion SAFU was established in 2018 during the tenure of Changpeng Zhao (CZ) as the CEO. On July 3, 2018, Binance introduced the Secure Asset Fund ...

Genesis agrees to a $33 million settlement with Three Arrows Capital, significantly less than the original $1 billion claim, amid ongoing crypto turmoil. Bankrupt crypto lender Genesis has consented to a settlement with the now-defunct crypto hedge fund Three Arrows Capital (3AC), culminating in a $33 million payment against a staggering $1 billion claim . This development, revealed through court documents, underscores the volatility and the inherent risks in the crypto market. The settlement, a product of “extensive negotiations,” is still pending approval from a New York bankruptcy court. The downfall of 3AC in June 2022 heralded a prolonged period of instability in the crypto sector, aptly termed a crypto winter. The claims against Genesis, which succumbed to bankruptcy in January, pertain to transactions preceding its financial collapse. You might also like: Genesis ordered to comply with subpoena in TerraUSD collapse case Notably, the agreement entails a...

A recent update in the federal court docket suggests that Ilya Lichtenstein and Heather Rhiannon Morgan, a New York couple, may plead guilty in the case against them for allegedly attempting to launder $4.5 billion in Bitcoin stolen during the 2016 Bitfinex hack. Their names appeared in a document typically used by federal prosecutors when defendants reach a plea agreement, indicating that the charges against them may soon be resolved. Bitfinex hack update: stolen Bitcoin now worth over $4.5 billion  Court records reveal that Ilya Lichtenstein and aspiring rapper Heather Rhiannon Morgan are scheduled to appear in court on Aug. 3 for separate arraignments and plea hearings on the provided information. At this time, public records do not provide any specific information regarding the charges. However, as the legal proceedings continue, more clarity may be revealed about the nature of the charges related to the alleged attempt to launder funds during the 2016 attack. You mi...