The launch of Kanye West’s YZY token on the Solana blockchain has turned into a major controversy after blockchain data revealed a massive pump-and-dump event. According to Nansen analytics, 13 wallets collectively pocketed over $24.5 million in profits by dumping the token shortly after launch—leaving thousands of retail investors at a huge loss. YZY Token Soars 1,400% Then Crashes 74% The YZY token debuted on Thursday, spiking 1,400% within an hour and reaching a peak price of $3. However, the hype didn’t last long. Within 24 hours, the token plunged 74%, trading at around $0.77, raising alarms of insider trading…
Author: Blockto Team
US Commodity Futures Trading Commission Seeks Public Feedback on Crypto Regulation The US Commodity Futures Trading Commission (CFTC) has launched its second “crypto sprint” initiative aimed at advancing the White House’s digital asset policy goals. Acting Chair Caroline D. Pham announced that the regulator is seeking public input on how to better regulate spot cryptocurrency trading, particularly for leveraged, margined, or financed retail trading on CFTC-registered exchanges. Public Input and Regulatory Objectives The CFTC’s call for feedback focuses on: “The public feedback will assist the CFTC in carefully considering relevant issues,” said Pham. Stakeholders have until October 20 to submit…
Hedera Hashgraph Price Holds Key Support Zone Amid Market Recovery Hedera Hashgraph (HBAR) is showing signs of strength after a prolonged downtrend, with price action rebounding from a critical support zone near $0.23. The latest surge in investor confidence comes as SWIFT’s blockchain trials highlight Hedera’s potential in cross-border payments, sparking renewed interest among traders and institutions. On the 4-hour chart, HBAR recently broke out of a descending channel, signaling a bullish reversal pattern. After hitting a high near $0.32, the price faced selling pressure, pulling back toward the $0.23-$0.24 support zone, which has so far held strong. “The support…
Australia’s financial regulator, the Australian Securities and Investments Commission (ASIC), has intensified its crackdown on online scams, removing 14,000 fraudulent websites and advertisements since July 2023. Notably, over 3,000 of these scams involved fake cryptocurrency schemes, highlighting the growing threat of digital asset fraud. ASIC Expands Focus to Social Media Ads ASIC Deputy Chair Sarah Court announced that the agency is expanding its enforcement to include social media advertisements, a major avenue for scam promotion. “The takedown capability is one example of how we are monitoring the latest trends and acting to protect Australians from those who try to steal…
Federal Reserve Faces Restrictions on Digital Currency Development The US House of Representatives has introduced a major provision banning the Federal Reserve from creating or studying a central bank digital currency (CBDC). The measure was added to the National Defense Authorization Act (NDAA) for the 2026 fiscal year—a must-pass bill that sets defense and military policy. The revised version of HR 3838, shared by the House Rules Committee, includes language that prohibits the Federal Reserve from issuing any form of digital currency. It also blocks the central bank from offering financial products or services directly to individuals. According to the…
Stellar Shows Strength After Testing Key Support Stellar (XLM) price is holding firm near a crucial support zone, signaling a potential bullish continuation if buyers maintain momentum. The XLM/USDT pair, currently trading around $0.393, bounced from the green demand area between $0.385 and $0.395, which has historically acted as a strong reversal zone. The 4-hour chart reveals that XLM recently broke out of a falling wedge pattern, a classic bullish reversal structure, before consolidating near support. According to BITX market analysts, this price behavior indicates that sellers are losing control while buyers prepare for an upward move. “The $0.385-$0.395 zone is…
A Bitcoiner has lost $91 million in a single transaction after falling victim to a sophisticated social engineering attack. Blockchain investigator ZachXBT revealed the details on X, confirming that 783 BTC worth $113,383 each were stolen on Tuesday. The victim was targeted by impostors posing as crypto exchange and hardware wallet support. Believing the fraudsters, the investor unknowingly disclosed sensitive information, allowing the attackers to access and transfer the funds. The theft occurred on Tuesday at 11:06 AM UTC, and by the next day, the stolen Bitcoin began moving through Wasabi Wallet, a privacy-focused Bitcoin wallet, to obscure the transaction…
Ethena Hits $500M Cumulative Revenue Ethena Labs announced that its Ethena protocol has generated over $500 million in cumulative revenue, marking a major milestone for the synthetic stablecoin sector. The company revealed on X that protocol revenue reached $13.4 million last week, while the circulating supply of its flagship stablecoin Ethena USDe (USDe) soared to an all-time high of $11.7 billion. Synthetic Stablecoins Gain Market Share According to DeFiLlama, Ethena USDe currently ranks as the third-largest stablecoin by market capitalization and the largest synthetic stablecoin globally. In the past month alone, its market cap surged 86.6%, reflecting increasing investor confidence…
Technical indicators highlight consolidation phase after sharp retracement NEAR Protocol (NEAR) is showing signs of stabilization after a volatile few weeks in which prices surged above $3 before retreating. At the time of writing, NEAR trades around $2.48, hovering just below a short-term resistance zone at $2.55. The chart indicates that $2.45–$2.47 has emerged as an important support range. Buyers have stepped in here multiple times, preventing a deeper breakdown. Beneath that, the next significant cushion lies closer to $2.25–$2.30, an area where demand previously sparked a strong recovery. “If NEAR continues to hold above $2.45, the market could attempt…
Tokenization is emerging as a transformative solution for Latin America’s capital markets, aiming to resolve systemic inefficiencies and boost liquidity, according to a new Bitfinex Securities report. Latin America’s financial markets face persistent challenges, including: These issues contribute to a phenomenon known as “liquidity latency” — slowing capital flow and hindering investments in the region. How Tokenization Solves Liquidity Problems Tokenization, the process of converting real-world assets (RWAs) into blockchain-based tokens, offers a way to make financial markets more transparent, efficient, and inclusive. According to Bitfinex Securities, tokenized financial products can: Jesse Knutson, Head of Operations at Bitfinex Securities, emphasized:“Tokenization…
