The recent surge in gold prices isn't just a reaction to market jitters—it's a signal flare. Investors are flocking to safe havens, but there’s another asset riding this wave with a different kind of momentum: Bitcoin. Often dubbed “digital gold,” BTC is increasingly seen as both a refuge and a revolutionary financial instrument.

As gold crosses the $3,300 per ounce mark, and even hit a record $3,500 briefly in April, Bitcoin has been quietly staging a comeback of its own. It’s not just shadowing gold—it’s carving its own path, powered by a new generation of investors who see beyond tradition and into the future.

The Uncertain World Fuels the Rush

We’re living through another wave of economic turbulence. With global trade tensions escalating—especially after President Trump’s aggressive new tariffs on over 60 countries, including a staggering 245% on Chinese imports—the world feels like it's on edge. In return, China upped its own tariffs to 125%, triggering fears of an all-out trade war.

Naturally, investors turn to safety. Gold is the old guard: tangible, familiar, and stable. Bitcoin, meanwhile, is for those who believe the digital age requires digital solutions. Both assets are benefitting, but the why behind each is telling.

Gold ETFs saw $8 billion in net inflows just three weeks ago—a record. Meanwhile, Bitcoin surged 10% following Trump’s tariff announcement (dubbed “Liberation Day” by crypto fans), jumping from $85K to $97K before settling around $94K. That's still 13% below its all-time high, but the confidence is building.

A New Kind of Safe Haven

What’s striking is how Bitcoin and gold are starting to move in tandem. From April 7–21, gold rose 15%, and Bitcoin was right behind it at 12%. Analysts at Kobeissi called this a “flight to decentralized, inflation-protected assets”—a sign investors aren’t just seeking safety, they’re seeking sovereignty.

The Pearson correlation shows that Bitcoin and gold are aligning more, while distancing from major stock indices like the Nasdaq and S&P 500. That’s a strong indicator that Bitcoin is evolving into a legitimate store of value—not just a speculative bet.

Gold Is Old Money. Bitcoin Is Asymmetric Opportunity.

Gold’s market cap sits around $22 trillion. It's massive, mature, and stable, with demand from jewelry to industrial use. But that maturity comes with a ceiling—growth is slow, and supply can still increase with new mining operations.

Bitcoin? Entirely capped at 21 million coins. That built-in scarcity is rocket fuel for price potential. Its current market cap—around $1.8 trillion—is tiny by comparison, which means massive upside if adoption scales.

Big names are bullish. MicroStrategy CEO Michael Saylor sees BTC hitting $140K this cycle. ARK Invest’s Cathie Wood goes further—forecasting a $2.4 trillion valuation long-term if institutional adoption takes off and governments start treating BTC as a strategic reserve.

In Conclusion

Gold is doing what gold does best—providing stability in unstable times. But Bitcoin is doing something more: it's reframing the very definition of value in a digitized world. One is rooted in the past; the other is aligned with the future.

As global uncertainty continues to stir the pot, both assets are attracting attention—but for very different reasons. Gold offers reassurance. Bitcoin offers revolution. And if current trends hold, we may be witnessing not just a rally, but a rebalancing of how the world defines and defends wealth.

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Author: Oliver Redding
Seattle Newsdesk  / Breaking Crypto News

Jack Mallers is the fonder of Strike, (which to me has always seemed like the all-crypto version of Cash App) and now heads a 2nd venture as he has just been named CEO of a new company called Twenty One, and he’s not wasting any time setting the tone. His mission? Overtake Michael Saylor and Strategy (formerly MicroStrategy) as the biggest corporate holder of bitcoin.

In a Bloomberg Technology interview, Mallers laid it out plain: Twenty One isn’t trying to be a fintech, a bank, or a crypto hedge fund. It’s a Bitcoin-first, Bitcoin-only company. Everything it does—from the products it builds to how it returns value to investors—is centered on one goal: stacking sats and scaling hard.

“We want to be the best vehicle for investors to gain exposure to bitcoin in the public markets,” Mallers said - making it clear they want to be seen as an official competitor to Michael Saylor and Strategy. 

The idea for Twenty One came after years of deep involvement in Bitcoin infrastructure—Mallers has worked alongside Tether and played a major role in Bitcoin adoption efforts in El Salvador. Now he’s aiming to do what no one else has done: build a public company from scratch that’s Bitcoin-native from day one. No pivoting from old-school industries. No legacy baggage.

On the other side of the ring is Michael Saylor, who’s basically become the poster child for corporate Bitcoin accumulation. With over 530,000 BTC in Strategy’s vaults, Saylor’s been rewriting the playbook for capital markets—raising billions via bitcoin-backed bonds and preferred stock to fuel the company’s ever-growing stack.

Mallers isn’t denying Saylor’s influence—in fact, he says Saylor was part of the inspiration. But where Saylor is evolving a decades-old company into a Bitcoin vehicle, Mallers is building the future from scratch. It’s new-school vs. old-school, and the battleground is Bitcoin.

Realistically, Twenty One's goal of catching up to Strategy is a long shot, at least when it comes to total Bitcoin held.  The company will launch with 43,000 BTC in hand which is a massive amount in any other circumstance, except comparing it with Strategy's 530,000 BTC.

Where they can make a name for themselves is becoming the company currently accumulating the most Bitcoin, while Saylor is unlikely to be dethroned as the one who currently holds the most Bitcoin.

Is This a Good Thing? 

It's easy to get caught up in the immediate effects of companies fighting over who can accumulate the most Bitcoin, as the immediate result is driving up the price. When it comes to supply and demand, whales with huge appetites obviously add a lot of momentum to the 'demand' end. 

But it's also putting the power to crash the entire market in the hands of a very small group of people. Of course, Saylor and really any investor with a basic understanding of the market would never dump 530K BTC onto the market at once, that obliterates their own profits as the market would have crashed long before even half of the coins were sold.

However, even a smaller portion like 10% for example - in the case of Strategy, that's still over $3 billion in BTC flooding the market, which would probably sent Bitcoin's price down by $10,000 to $15,000.  Then when you consider this may trigger another large holder to panic - it's not just about how many tokens one major holder sells, it's the total amount they sell + scare others in to selling when a sizeable red candle appears.

Then there's the obvious argument against companies trying to get as much Bitcoin as possible - remember, decentralization? It's easy to forget in a story about 2 companies who want it all.


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Author: Adam Lee
Asia News Desk 
Breaking Crypto News

GameStop used to be the ultimate meme-stock after the massive gains it made thanks to Reddit’s r/WallStreetBets.

But lately, it’s not making quite the same level of noise. While it’s still a name that sparks strong opinions, GME has drifted into the mid-$20 range for most of the past year, with only a short-lived stint in the $30s. 

On Tuesday after the bell, the company reported an earnings beat, posting 30 cents per share on $1.28 billion in revenue. For fans tracking its financial health, the real eye-opener might be GME’s free cash flow, which turned positive: $158.8 million this year compared with last year’s negative $18.7 million.

But the real big news...

GameStop’s board has unanimously approved a update to the company’s investment policy: The company can hold Bitcoin. Yep, that means GME is clearing a path to hold BTC on its balance sheet. Sure, buying in a few years ago might’ve been a jackpot move when Bitcoin was just a fraction of the price it is now? Still, better late than never, and hardcore Bitcoin maximalists will actually tell you that this is still early.

While we don't know how much they plan to buy, we do know they're sitting on about $4.7 billion in cash, which is a massive war chest for a company with an $11.35 billion market cap. The decision to diversify into Bitcoin signals that management is open to some of the new trends shaping modern finance.

By integrating Bitcoin into its treasury strategy, GME might attract a new wave of tech-savvy retail investors, the same crowd that invests in MicroStrategy, the company that owns more Bitcoin than any other business or person. That synergy between loyal shareholders and forward-thinking decisions could work in GameStop’s favor.

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Author: Mark Pippen
London Newsroom
GlobalCryptoPress | Breaking Crypto News

Today we're learning the story of a Bitcoin block that was mined just a couple days ago by a solo miner, surprising the crypto community by successfully mining block #887,212 with just a 480 GH/s Bitaxe rig.

For some perspective, these mini-miners earn about $3 per year - yes you're reading that correctly, per year - that is, unless it happens to be the one to mine a new block.  Running a small rig like this is often compared to buying a lotto ticket, except you only need to pay once and get to play every day.

The Odds...

This miner was using solo.ckpool, a popular choice among individual miners looking to strike digital gold without joining massive pools.

Pool developer Con Kolivas emphasized how remarkable this feat was, estimating that similar rigs have less than a one-in-a-million daily chance of solving a block. Statistically speaking, the average wait time for success with a rig this size is roughly 3,500 years.

To put this into perspective, industrial-scale Bitcoin miners commonly run setups about 2000% more powerful, so beating them with a rig this size is extremely rare.

Tiny Rig, Huge Payoff

This miner earned a reward of about $260,000 at the time, or 3.15 BTC plus an extra 0.025 BTC from transaction fees, according to mempool.space.

Adding to the surprise, the Bitaxe rig used in this incredible win was ultra-affordable, selling for around $90 on Ebay.

Solo Mining Faces Giants

Today, Bitcoin mining is dominated by major players like Foundry USA, whose massive hashrate primarily comes from publicly traded giants such as Cipher Mining, Bitfarms, and Hut 8. MARA Holdings, another heavy hitter, even operates its own dedicated MARA Pool.

Unlike commercial mining hardware that's typically proprietary, Bitaxe offers open-source solutions. Enthusiasts like Skot claim that open-source mining better reflects Bitcoin's core decentralized spirit—making this rare win even sweeter for Bitcoin purists.

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Author: Mark Pippen
London Newsroom
GlobalCryptoPress | Breaking Crypto News

By now you've probably heard of the staggering blow to crypto exchange Bybit, as they confirmed a massive $1.4 billion exploit, making it the largest crypto hack on record

We're now learning some additional details - according to Bybit CEO Ben Zhou, the attacker compromised one of the exchange’s Ethereum cold wallets, siphoning off huge quantities of ETH and stETH by manipulating a single transaction.

Bybit’s CEO says the hacker got hold of the private keys to a specific ETH cold wallet and transferred the funds to an unknown address. Top blockchain analytics groups like ZachXBT and Arkham Intelligence have verified these massive outflows, with Arkham noting that the stolen funds are now being split and sold through multiple addresses.

Is User Money Safe?

Zhou insists that other Bybit wallets weren’t impacted. The platform is still processing withdrawals—99% of user requests have reportedly gone through without a hitch. Bybit is maintaining they have enough liquidity to honor customer withdrawals in full.

Setting a New Record...

This new $1.4 billion hack officially takes the top spot for the largest theft in crypto history. It surpasses both the Ronin Network’s $625 million loss and the $611 million Poly Network exploit, both of which rocked the market in 2022.

Catching the Hacker...

The biggest hack is now offering the biggest reward, up to $140,000,000 (10% of total hacked funds) for anyone who can track down who is responsible.

This is bad news for the hacker, because unless we're looking at a government sponsored action (such as North Korea) you can be sure the hacker bragged about his accomplishment at least within a small circle of fellow hackers - if so, with a reward this size someone is bound to turn on them.

Blockchain researcher ZachXBT was among the first to flag the suspicious outflows. He reports the stolen ETH has been split across 39 different addresses—likely an attempt to hide the funds and evade tracking.

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Author: Adam Lee 
Asia News Desk / Breaking Crypto News

The New York Stock Exchange (NYSE) just applied to the U.S. Securities and Exchange Commission (SEC) to list and trade the Grayscale XRP Trust as an exchange-traded fund (ETF). If approved, it would transform the existing trust into an ETF, opening the door for more investors—from curious retail traders to heavyweight institutions—to get in on the action.

This move could mark a pivotal moment for XRP, the cryptocurrency from Ripple Labs that’s been a hot topic for its ongoing legal showdown with the SEC. Approval would likely boost XRP’s reputation and adoption, weaving it more seamlessly into mainstream financial markets.

Converting the Grayscale XRP Trust into an ETF aims to make investment in XRP easier and more aligned with traditional financial systems. That means the ETF structure could potentially bring in both established and first-time crypto investors, turning a once-controversial asset into something more approachable and SEC-compliant.

It could be months until we find out if an XRP ETF will become a reality. Approval would very likely come with a nice boost to XRP's price, while a denial could go either way, largely depending on if investors increase their exposure to XRP anticipating approval. 

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Author: Justin Derbek
New York News Desk
Breaking Crypto News

US banks have just scored an official OK from the Federal Reserve to jump into bitcoin and other crypto services—so long as they can handle the risks.

Fed Chair Jerome Powell spelled it out at a press conference after the latest Federal Open Market Committee (FOMC) meeting, emphasizing that while the Fed’s main focus is on overseeing banks, it’s cool with them offering digital asset services if they truly understand what they’re getting into.

Powell noted that several banks under the Fed’s supervision are already dabbling in crypto, and stressed that those looking to follow suit would be held to “a little bit higher” standard when it comes to risk management. He also made it clear that the central bank isn’t anti-innovation, pointing to a Financial Stability Oversight Council (FSOC) report on potential crypto risks and saying that the Fed isn’t out to slam the door on new tech.

All this arrives just as Congress is investigating claims of an organized anti-crypto push—often referred to as “Chokepoint 2.0”—aimed at disconnecting digital assets like bitcoin from the traditional banking system.

The Move Received Praise from the Crypto Industry...

Industry leaders are giving the move a big thumbs-up. Coinbase’s chief legal officer, Paul Grewal, praised the decision, saying it simply brings crypto in line with other industries from a banking standpoint. “Banks now have the freedom to manage the risks involved in cryptocurrencies,” he said, adding, “What a change from the last four years!”

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Author: Oliver Redding
Seattle Newsdesk  / Breaking Crypto News

Craig Wright, the controversial figure who claims to be Bitcoin’s creator, Satoshi Nakamoto, is cracking following the defeat of his landmark case as been handed a suspended prison sentence by a UK court.

Wright’s one-year sentence for contempt of court won’t see him behind bars unless he breaches court orders in the next two years. While the average person would make sure to comply, Wright's recent behavior has us wondering if he's capable of controlling himself long enough to stay free man. 

Over-Emotional, Irrational, and Digging his Hole Deeper...

Wright has seemingly become driven by emotion rather than calculated legal strategy, his recent  irrationality and impulsiveness seem to be a clear indication that the mounting legal defeats are taking their toll. 

First, immediately after the court dismissed his lawsuit, he filed another - a move seen as Wright blatantly disregarding the court’s previous orders.

But that was just the beginning as Wright then did something anyone in their right mind knows is always a bad idea, and will never help someone make their case - he skipped attending the hearing addressing his first violation. 

At first it seemed like Wright may have immediately realized his mistake and agreed to attending the rescheduled hearing. But hopes Wright was returning to reality soon faded as he joined the hearing via video link, demanding an insane £240,000 to attend, to cover his "costs and lost earnings". 

These actions painted a picture of someone incapable of maintaining composure in the face of legal setbacks.

The Claim That Won’t Die...

These most recent troubles were ignited when Wright attempted to sue a group of Bitcoin developers for £900 billion (around $1 TRILLION in USD), the most recent, but far from the first lawsuit Wright has attempted.

For years, Wright has insisted he is the mysterious creator of Bitcoin, Satoshi Nakamoto, despite a mountain of evidence to the contrary. This self-proclaimed identity has been central to his legal battles and public persona, yet it has consistently crumbled under scrutiny. 

The High Court in London dismissed his lawsuit, calling it baseless. In the wake of this ruling, an advocacy group made up of individuals and companies who want to protect Bitcoin's open source status, called the Crypto Open Patent Alliance (COPA) called for Wright to be held in contempt of court.  The grounds for this claim come from his ruling from the court explicitly barring him from filing new lawsuits that were based on his claim to be Nakamoto.

The UK Legal System Has Had ENOUGH...

Judge Mellor ripped into Wright, calling his tactics "malicious and manipulative". 

The court highlighted years of distress caused by Wright’s relentless legal threats against developers and bloggers, noting that his claims were founded on lies and forgeries. The judgment emphasized Wright’s attempts to mislead both the legal system and the public.

Wright’s unhinged behavior has earned him a one-year suspended sentence for contempt of court, along with orders to pay £145,000 (about $180,000 USD) within 2 weeks.

While he narrowly avoided prison thus far, he must follow court orders exactly as instructed for the next 2 years if he wants to stay out.

A Tarnished Legacy...

The crazy part is, Wright truly did contribute to the creation of Bitcoin.  He was among the small group of original developers who volunteered their time and skills to help whoever the real Satoshi is - Wright does deserve credit for helping to launch the first cryptocurrency.

Wright could have been a respected figure in the crypto and tech world with the true story of his role in Bitcoin's creation. Ironically, people who launch the most vicious attacks at Wright for being a fraud would probably be among his biggest fans.

This seems to be an example of a poor choice made years ago, perhaps made impulsively - mix this with a prideful person who struggles to admit when they're wrong, and you get this ridiculous never-ending spectacle.

Wright had to be aware of several obvious methods the real Satoshi could use to prove his identity, Wright knew he couldn't perform any of them, and that people would demand this of anyone making this claim. The most important being the ability to open the wallet belonging to Satoshi.

Surely the real Satoshi would carefully back up the private key needed to access his wallet, of which over $90 Billion USD worth of Bitcoin sits untouched for 14 years.

But during a case he filed in Norway, where Wright attempted to sue someone from the crypto community on Twitter for calling him a scammer, Wright claimed he could no longer access the Satoshi wallets since he 'stomped out' the hard drives they were saved on.  The man he was suing was a public school teacher with 8000 followers, Wright lost. 

Where Do We Go From Here?

It seems Wright has taken things so far, he's reached the point where having him face real, life changing consequences is the only response left.  Wright has proven his willingness to create a never ending cycle of baseless lawsuits that waste both government and private citizens funds addressing - failing to win a judgement in his favor has proven not to be a deterrent. 

Since Wright begun his crusade, only his worst traits have evolved.  What started with him at least portraying an image of someone making calculated legal moves, has been replaced with someone unable to control themselves long enough to consider the results of their increasingly impulsive actions.

I guess what I'm trying to say is - my money is on Craig going to jail! He needs to obey every demand of the court for 2 full years, and I just don't see his personality changing enough to pull it off. 

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Author: Mark Pippen
London Newsroom
GlobalCryptoPress | Breaking Crypto News

In a bold move toward integrating cryptocurrency into national policy, Japanese Senator Satoshi Hamada has submitted a formal proposal urging the government to establish a strategic bitcoin (BTC) reserve. The request, officially registered in Japan's Upper House of Parliament, advocates for converting part of the nation's foreign exchange reserves into bitcoin and other virtual currencies.

Hamada's proposal, titled “Letter of Intent on the State of Understanding of the Bitcoin Reserve Movement Promoted by the United States and Other Countries,” underscores the growing global interest in bitcoin as a treasury asset. He highlighted bitcoin’s decentralized and neutral qualities, describing it as less influenced by specific nations or institutions, making it a resilient and reliable economic tool.

This call to action aligns with a broader trend, as nations and corporations worldwide explore bitcoin treasuries to diversify their reserves. The United States, for instance, has drawn attention for its discussions around adopting bitcoin as part of its economic strategy, spurred by promises from President-elect Donald Trump.

In Japan, the interest in bitcoin is also evident in the private sector. A prime example is Metaplanet Inc., a Japanese company that saw its stock value surge by 1,700% in a single year due to its investment in bitcoin. Hamada cited such cases to illustrate the potential benefits of incorporating bitcoin into national reserves.

The Japanese government is expected to issue a formal response to the proposal in the coming weeks, with the reply likely to be published on its official website. How Japan addresses Hamada's initiative could influence other nations, given Japan's reputation for technological innovation and its leadership in adopting financial technologies.

The Move Could Influence Other Nation's to Follow...

As the world watches, Japan's decision could set the tone for how advanced economies approach bitcoin in their fiscal policies, potentially ushering in a new era of cryptocurrency-backed reserves.

Japan has long been a pioneer in cryptocurrency adoption. Bitcoin and other cryptocurrencies have been legal in the country since 2017, though their use has largely been limited to speculative trading since 2019. Hamada’s proposal could signal a shift toward viewing bitcoin not just as an investment or trading tool but as a strategic national asset.

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Author: Adam Lee 
Asia News Desk / Breaking Crypto News

As Russia invaded Ukraine in February of last year, an organization called Ukraine DAO instantly surfaced as a charity ready to help those wanting to donate to Ukraine using crypto, promising 100% of donations would go to the cause.

UkraineDAO started off doing what they promised to do…

The organization’s first move was the auction of an NFT of the Ukrainian flag. Many in the crypto community shared this on social media, along with some high profile exposure from people like Ethereum founder Vitalik Buterin and Nadia Tolokonnikova of Russian Anti-Putin band Pussy Riot.

The NFT raised a total of $6.8 million worth of ETH at the time - and on-chain records show this being transferred to non-profit Ukrainian Military Support organization ‘Come Back Alive’ which helps supply equipment and training for Ukrainian soldiers.

Their verifiable donations include:

- 1550.5 ETH to Come Back Alive.

- 387.63 ETH to Ukraine Government.

- 190.49 ETH to OutRight Action International

- 4.43 ETH to Psychology for Human Rights

This totals approximately 2130 ETH verifiably donated. But the wallet data shows a total of 2468 ETH received.

So there’s a remaining 338 ETH with a current value approximately $640,300. Some of this sits unspent, some is accounted for, and some is accounted for but the way it was used is where conflict begins to arise.

Things got real nasty, real fast...

The first issue came to light when Nadia Tolokonnikova of Russian Anti-Putin band Pussy Riot, who initially endorsed the project, quit after learning that the promise of “100% of funds” going to help those effected by the war untrue and project leader Alona Shevchenko had been taking a $5,000/month salary.

Alona responded showing how previously Nadia had given interviews where she was asked about when she ‘started the charity, Nadia told the interviewer the she "along with a number of friends’ felt they had to do something when they learned the invasion had begun.  Alona seems to think Nadia was positioning herself in interviews to be seen as the main person behind it.

[This portion of the article has been updated] There are 5 leaders who all need to sign off anytime a transaction is made from the official wallet (multi-sig). We initially reported that Nadia was not one of those five people, therefore it appeared she was not among the original founders.

That was incorrect -  she no longer is one of the five required signatures, which is why we did not see her there when we looked. But at the beginning, she was.

John Caldwell was another one of the five, he currently runs another charitable DAO he co-founded with Nadia called Unicorn DAO. John provided evidence of earlier transactions showing Nadia's signature on them, and explained that once UkraineDAO distributed the majority of the funds, both he and Nadia moved on, explaining "on that list of transactions, on #44 Pussyriot.eth was removed, then 45 I removed myself" trusting that the remaining funds would continue to be distributed appropriately.

It's the management of those remaining funds that have some people concerned...

You can still see the promise made on their official Twitter account that “100% proceeds go to support Ukrainians suffering for the war” - no room for confusion there .

While Alona is from Ukraine, she has been living in the UK for years before the war even started. When taking a look at her LinkedIn employment history, we see that she’s been employed in London-based companies since 2017 - clearly she does not qualify as one of the “Ukrainians suffering for the war” yet she took $5000 per month from the donated funds for things like rent and personal expenses.

Ukraine DAO also repeatedly stated they were “supported by the Ministry of Digital Transformation of Ukraine” making them “the first DAO to have been endorsed at the state level”. That claim would later be called ‘weird’ when after catching the attention of Ukrainian news outlet Kiev Post, who asked the Ukrainian government about these claims, they were told “The Ministry of Digital Transformation has not endorsed Ukraine DAO” .

However, I should mention that the Ukrainian government was not saying ‘we have no idea who you’re talking about’ - because there is some kind of relationship between the two organizations.

A profile on Alona Shevchenko which highlights her co-founding Ukraine DAO appears on an official Ukrainian government website. But when asked, Oleksandr Bornyakov, Ukraine’s Deputy Minister of the program downplayed its importance only as 1 of nearly 300 pages for volunteers for a program to educate the public on crypto.

Ukrainian News Outlets Claimed "around $700k" - We've Located Approximately $400K Of It...

At today's ETH value it's somewhere closer to $640,300 ‘unaccounted’ for funds, some of which more accurately should be called ‘unexplained’ funds. Because we know where some of that is, we just don’t know why it’s there.

There’s what was sent to individuals - Alona’s $5000 monthly payments to herself is somewhere around $70,000 total now. There was another $34,013 sent to another co-founder of the charity, Matthew Bundy; we can’t imagine why unless donors are now paying his rent too.

Then we don’t know who this was intended for, but another transaction for approximately $155,000 was sent to a wallet controlled by Sam Bankman-Fried’s former exchange FTX shortly before everyone lost access to their funds, as far as we can tell it was still there when that happened.

Lastly, $156,461 still sits in the official wallet of the charity.

The situation is much better thann $700,000 missing, but there's still a total around $200,000 gone from the charity's wallet but not listed as being spent anywhere - which is still too much to go unanswered for.

So, Now What?

Thankfully this isn’t a situation where donations are still flowing into the charity, so even if the worst outcome is true and a large amount of funds were misused, that number isn’t growing, at least from Ukraine DAO.

However, the same group appears to be on to the next cause - launching Iran DAO whose Twitter profile states their goal of “providing resources for Iran’s women-led revolution.”

It began with a Tweet from UkraineDAO stating they are “working to set up IranianDAO.”

In Closing…

It’s important to note that we could only label some Ukrainian funds ‘unaccounted’ for - which is very different than labeling them ‘stolen’. However, I’d like every dollar from their previous charity to be accounted for before even considering supporting a new one.

Or should the funds that ended up in Alona’s hands for personal expenses be considered ‘stolen’? This is a grey area legally. If 100% of the funds were to go to ‘Ukrainians suffering from the war’, she is Ukrainian, and while she only experiences the war via online news and TV from her home in England, perhaps she found the images emotionally distressful, technically making her a ‘Ukrainian suffering from the war’.

Unfortunately I’m struggling to come up with a scenario that ends with these payments to herself turning out to be completely ethical. 

I’m confident that no one donated thinking any of their money was going to a Ukrainian, who hasn't lived in Ukraine for years, is one of the people trusted with access to the donated funds, finding a way to put some in her own pocket - technically legal or not. 

While the Ukrainian government’s resources are focused elsewhere, there is a group of citizens along with journalists from the Kiev Post who continue to demand full accounting of every donated dollar, as well as question the legality of some of the DAO’s controversial decisions.

They vow that when the war is over they will be pressuring the government to review any potential exploitation by those using their crisis for personal profit. 

The story may be far from over, but this is where things stand now.

UkraineDAO was contacted (via Twitter DM)  and invited to share any additional information on the topics mentioned here. If they choose to, we will include it with our reporting.

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Author: Ross Davis
Silicon Valley Newsroom
GCP | Breaking Crypto News

PayPal is taking another step forward in the cryptocurrency space, announcing on Wednesday that U.S. merchants can now buy, hold, and sell crypto directly through their business accounts.

This move reflects the growing mainstream acceptance of digital currencies, especially following the approval of Bitcoin exchange-traded funds (ETFs) by the U.S. Securities and Exchange Commission (SEC) earlier this year. What was once considered a fringe asset class is now becoming more integrated into traditional finance.

"Business owners have increasingly expressed interest in having the same cryptocurrency options that consumers already enjoy," said Jose Fernandez da Ponte, PayPal’s Senior Vice President of Blockchain, Cryptocurrency, and Digital Currencies.

PayPal's Decision to Enter Crypto has Paid Off, Big...

PayPal first entered the crypto scene in 2020, allowing customers to trade and hold Bitcoin and other cryptocurrencies within its platform. Since then, they’ve been leading the charge for fintech companies embracing digital currencies. Most notably, in August 2023, PayPal launched its own dollar-backed stablecoin, marking a major milestone as the first major fintech to introduce a stablecoin for payments and transfers.

Stablecoins, unlike more volatile cryptocurrencies, are tied to stable assets, providing a level of price protection for users wary of the dramatic swings often seen in the market.

In addition to this, PayPal is also allowing U.S. merchants to transfer cryptocurrencies externally to third-party wallets, further expanding their crypto functionality. However, there’s one notable exception—these new crypto services won’t be available to businesses in New York at launch.

PayPal's move into the crypto sector has been paying off, and is credited as a primary reason for the the company's stock boost this year, where it's climbed nearly 26% so far.

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Author: Mark Pippen
London Newsroom
GlobalCryptoPress | Breaking Crypto News

The conversion is underway, and just 1 week in to the process, Polygon is reporting the majority of tokens already converted (Over 60%).

Polygon is migrating from MATIC tokens to a new coin called POL, which will serve as the primary token for gas fees and staking while introducing features like multi-chain staking. This upgrade is expected to bolster network security by enabling staking across multiple chains within the Polygon ecosystem. The rebranding to POL also aligns better with the Polygon name, addressing a longstanding discrepancy where the token for 'Polygon' was traded under the symbol 'MATIC.' While the exact origins of this naming are unclear to many, including traders, the change seems logical.

The migration from MATIC to POL began on September 4, 2024, as a key initiative in the Polygon 2.0 roadmap. Originally announced in mid-2023, this upgrade aims to enhance the network’s scalability, security, and overall functionality.

Will the new token's features increase investor appeal?

The general consensus is positive. POL’s enhanced features, like multi-chain staking, are expected to appeal to investors by allowing staking across various chains in the Polygon network, thereby increasing network security and providing new fee-earning opportunities.

Do you need to take any action?

If you hold MATIC on the Polygon blockchain, your tokens will be automatically converted to POL. However, if you hold MATIC tokens (ERC-20) on Ethereum’s blockchain, you will need to visit the POL Portal to convert your tokens. For those holding MATIC on a centralized exchange, it’s essential to check with the exchange regarding their plans for the migration, as you may still need to manage the conversion manually in some cases.

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Author: Trevor Kingsley
Tech News CITY // New York Newsroom

Update - Yesterday (Sept 8th): The Harris campaign released an outline of what her administration's key issues would be, which included some of the nation's hot topics, and touched on many smaller niche issues as well. 

But even with such a wide range of topics, somehow, not one of them was Cryptocurrency, which managed to go completely unmentioned. 

The original article is below:

The Biden administration has often been criticized as 'anti-crypto' due to a consistent lack of understanding of the industry's fundamentals. However, one of Kamala Harris’s advisors suggests that the current Vice President and Presidential nominee might take a different approach, supporting more pro-crypto policies.

While this news is intriguing, it's wise to remain cautious. The source of this information is Brian Nelson, a key policy adviser for Harris, who recently indicated that she would back measures favorable to the crypto industry.

However, it's important to remember that this is coming from an advisor...

Not a spokesperson, or Kamala herself.  Harris has yet to publicly address her views on digital assets, and the Democratic Party's platform does not mention crypto.  An advisor’s role is to suggest policies, and until Harris publicly endorses these views, nothing is official. This also means that if the stance doesn't materialize, it wouldn't be seen as a broken campaign promise.

For the crypto community to take this seriously, Kamala Harris needs to make a clear statement on her stance regarding digital assets.

According to Bloomberg, Brian Nelson shared during a roundtable at the Democratic National Convention that Harris plans to support policies that would enable the growth of emerging technologies like crypto. This marks the first public insight into how Harris might approach digital assets as a Presidential candidate. Previously, Harris's campaign had engaged with crypto leaders who expressed concerns about the Biden-Harris administration’s perceived hostility toward the industry.

In contrast, former President Donald Trump has fully embraced crypto. In July, he delivered a prominent speech at Bitcoin Nashville, promising to make the U.S. the “crypto capital of the planet.” 

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Author: Oliver Redding
Seattle Newsdesk  / Breaking Crypto News

PayPal’s foray into the world of crypto has been a huge success for the company, and the highlight of this venture has to be their flagship stablecoin, PayPal USD (PYUSD), recently crossing the $1 billion mark in total market capitalization, as reported by CoinMarketCap.

Launched in 2023, PYUSD is pegged to the US dollar at a 1:1 ratio, ensuring stability and ease of use for transactions in the digital economy. The stablecoin is issued by Paxos Trust Company, a US-regulated entity known for its compliance and security standards in the crypto space.

As an ERC-20 token on the Ethereum blockchain, PYUSD benefits from Ethereum’s robust infrastructure and widespread adoption in the blockchain community. This design choice means it’s not only compatible with Ethereum but also integrates seamlessly with the broader ecosystem of third-party developers, wallets, and Web3 applications. For developers and businesses, this translates to an easier onboarding process for integrating PYUSD into their platforms and products, enabling a smoother user experience and expanding the utility of digital assets in everyday transactions.

The rise of PYUSD is a significant milestone, underscoring the growing demand for stable, fiat-backed digital currencies...

Stablecoins blend the benefits of blockchain technology with the familiarity of traditional money. According to Dan Schulman, president and CEO of PayPal, the increasing shift towards digital currencies necessitates reliable, easy-to-integrate financial instruments that are both digitally native and anchored by fiat currencies like the US dollar. PYUSD aims to fill this gap, offering a stable value that helps mitigate the volatility typically associated with cryptocurrencies.

Moreover, PYUSD is the only stablecoin currently supported by PayPal’s payments infrastructure, making it a unique offering in the digital payments space. This exclusivity suggests that PayPal is positioning PYUSD as a cornerstone of its strategy to bridge traditional finance and the decentralized finance (DeFi) world, catering to a growing user base that’s increasingly comfortable with digital currencies.

For crypto exchanges, the appeal of PYUSD lies in its backing by a trusted name like PayPal and a regulated issuer like Paxos, offering an extra layer of credibility that many other stablecoins lack. As stablecoins continue to play a pivotal role in the adoption of digital currencies, PYUSD’s rapid ascent highlights the potential for major fintech companies to influence and shape the future of digital payments.

With PYUSD’s market cap on the rise, all eyes are on how PayPal will leverage its established global reach and technological prowess to further drive the adoption of digital currencies and redefine the landscape of online payments. As the digital finance space evolves, PYUSD could be a key player in the ongoing transformation of how value is stored, transferred, and used in a world that’s increasingly turning to blockchain technology.

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Author: Oliver Redding
Seattle Newsdesk  / Breaking Crypto News

In a sweeping operation across Germany, authorities have confiscated nearly €25 million ($28 million) in cash from cryptocurrency ATMs that were operating without proper permits, according to a statement issued by the country’s financial regulator, BaFin, on Tuesday.

The operation targeted cryptocurrency ATMs located in 35 different sites across the country. These machines were facilitating the trade of Bitcoin and other cryptocurrencies but lacked the necessary licensing, which raised concerns about their potential use in money laundering activities.

BaFin collaborated closely with law enforcement agencies and the German Bundesbank to carry out this extensive operation. The seizure of these ATMs marks a significant step in Germany’s ongoing efforts to regulate the fast-growing cryptocurrency market, particularly in the wake of a global surge in Bitcoin ATM installations in 2024.

The crackdown also underscores Germany's commitment to stringent regulatory enforcement within the crypto space. ATM operators found to be in violation of licensing requirements face severe legal consequences, including penalties of up to five years in prison, according to AML Intelligence.

This recent action is part of a broader regulatory push by German authorities to manage the risks associated with cryptocurrencies. The German government has been under scrutiny for its approach to handling seized digital assets, particularly after it liquidated the last of its seized Bitcoins in July 2024. That sale included 3,846 Bitcoins, each valued at approximately $62,604, most of which had been confiscated in previous operations.

As Germany continues to tighten its grip on the cryptocurrency sector, this operation serves as a stark reminder to operators that compliance with regulatory requirements is not optional.

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Author: Mark Pippen
London Newsroom
GlobalCryptoPress | Breaking Crypto News