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Ripple, the company behind the XRP Ledger (XRP) development, will unlock 1 billion tokens on May 1, worth $503.6 million. This is part of Ripple’s monthly sell-offs, which could negatively impact the XRP price in the following weeks. Historically, Ripple has been unlocking 1 billion tokens through escrows, finalized on the first day of every month since 2017. So far, the company has been using ‘Ripple (22)’ and ‘Ripple (23),’ according to XRPScan , as reported in April’s unlock. However, these accounts show empty escrows on April 30, similar to what happened in March, a few days before April’s unlock . Finbold will further monitor Ripple’s known accounts and report accordingly in the coming days. Picks for you US economist warns inflation threat is ‘gravely understated’ 38 mins ago Economist predicts crisis to make prior recessions look like ‘Sunday school picnic’ 2 hours ago Is Russia banning crypto? Lawmaker weighs in 19 hours ago Et...

An ex-takeaway worker living in the UK has been found guilty of laundering funds for a Chinese fraudster and managing over £2 billion ($2.5 billion ) in Bitcoin that has now been seized by police.   The Crown Prosecution Service (CPS) announced Jian Wen’s conviction at Southwark Court on Wednesday. It noted that the 42-year-old was guilty of one of three money laundering charges.  Wen had reportedly lived a ‘modest lifestyle’ in Leeds before meeting Yadi Zhang, real name Zhimin Qian. Zhang is a Chinese national and a wanted fugitive accused of making $6 billion in Bitcoin through scamming nationals in China.   The two moved to London and bought a six-bedroom manor house in 2017. They reportedly claimed to be international jewelers with Wen acting as a ‘front person.’ Zhang gave Wen 3,000 bitcoins, worth £15 million at the time and Wen helped convert it into various luxury items, cash, and property to disguise the true source of the funds. ...

Amid significant price advances by the majority of assets in the cryptocurrency industry, XRP has been no exception, making increases on its daily and weekly charts, crossing the $0.55 price threshold, and adding more than $1 billion to its market capitalization in a single day. Specifically, XRP’s market cap has raced from $28.66 billion to $29.66 billion in a matter of 24 hours, which means it has added $1.18 billion and grown by 4.12% during this time, according to recent data obtained by Finbold from crypto market analytics platform CoinMarketCap on February 15. XRP 24-hour market cap chart. Source: CoinMarketCap XRP price analysis In the meantime, the XRP token is currently changing hands at the price of $0.554, after first surpassing the $0.55 mark, recording an increase of 4.44% in the last 24 hours and of 7.25% across the previous seven days, as it moves to reverse the 3.58% loss accumulated over the past month. XRP 24-hour price chart. Source: Finbold As it happen...

Coinbase’s director, Conor Grogan, has uncovered blockchain data that sheds light on substantial USDT minting activities orchestrated by Sam Bankman-Fried’s Alameda Research in 2021. The data from the blockchain, as analyzed by Coinbase’s director, Conor Grogan, reveals that Alameda Research redeemed over $38 billion worth of Tether (USDT) tokens in 2021, even though their assets under management did not appear to justify such massive redemptions. Grogan’s findings indicate that the creation of USDT tokens surpassed the total assets held by Alameda Research at the peak of the cryptocurrency market’s bull run in 2021. Grogan also posits that the USDT redemptions, which were seemingly orchestrated by FTX, were likely associated with Alameda’s tokens, totaling a staggering 3.9 billion USDT. A significant portion of this redemption activity occurred during the collapse of Terra’s algorithmic stablecoin. In January 2021, former co-CEO of Alameda,...

Regulatory pressure continues to limit each upside breakout, but data shows some compelling reasons for an eventual crypto market rally. The total cryptocurrency market capitalization dropped 1.5% in the past seven days to rest at $840 billion. The slightly negative movement did not break the ascending channel initiated on Nov. 12, although the overall sentiment remains bearish and year-to-date losses amount to 64%. Total crypto market cap in USD, 12-hour. Source: TradingView Bitcoin (BTC) price dropped 0.8% on the week, stabilizing near the $16,800 level at 10:00 UTC on Dec. 8 — even though it eventually broke above $17,200 later on the day. Discussions related to regulating crypto Markets pressured Markets and the FTX exchange collapse limited traders ' appetites, causing lawmakers to turn their attention to the potential impact on financial institutions and the retail investors' lack of protection. On Dec. 6, the Financial Crimes Enforcement Network (FinCEN) said it is ...