Author: The Daily Hodl
Tornado Cash developer Alexey Pertsev has been sentenced to 64 months in jail for laundering billions of dollars, according to a new Dutch court press release. The Netherlands’ Oost-Brabant district court handed down the sentence Tuesday for his involvement in creating the Ethereum (ETH)-based coin mixing system that helps users obfuscate their digital assets. Says the court in a statement, “Tornado Cash does not pose any barrier for people with criminal assets who want to launder them. That is why the court regards the defendant guilty of the money laundering activities as charged.” The court also ruled that “that the…
Uniswap Labs chief executive Hayden Adams is warning Democrats that their anti-crypto agenda could cost them dearly in the November 2024 US presidential election. Adams, who invented the decentralized crypto exchange (DEX) Uniswap (UNI), tells his 286,100 followers on the social media platform X that Democrats are making a political miscalculation when it comes to digital assets. He compares US Senator Elizabeth Warren (D-Massachusetts) and the U.S. Securities and Exchange Commission (SEC) attacks on crypto to a political misstep by the unsuccessful Democratic 2016 US presidential candidate Hillary Clinton. “Hillary [Clinton] campaigning in red states instead of swing states level…
Gamestop and a GME-inspired memecoin are rallying harder as hotter-than-expected inflation data boosts risk appetite in crypto and stocks. The producer price index (PPI), which measures what producers receive for their goods, increased 0.5% in April and was up 2.2% on a 12-month basis, according to the latest release from the Bureau of Labor Statistics (BLS). It was the biggest gain so far this year, and was higher than the forecasted 0.2%. Meanwhile, stock indices have pushed slightly higher as Wall Street digests the data, and Gamestop, the meme stock that exploded in 2021 causing hedge funds to lose large…
Veteran trader Peter Brandt thinks XRP may plummet in value against Bitcoin (BTC) as the pair approaches all-time lows. Brandt tells his 728,900 followers on the social media platform X that the XRP/BTC pair is in danger of moving below its long-term range low. According to the seasoned trader, the target for the range breakdown based on classical charting principles is 0.0000002 BTC ($0.013). “From a pure classical charting point of view (that is, Schabacker, Edwards, Magee), this chart looks like it is headed toward zero… It is actually fun poking a stick at XRP_aholics. My comparison is to BTC,…
Real Vision analyst Jamie Coutts says that the layer-1 crypto sector could see a staggering rise in valuation driven by artificial intelligence (AI) technology. Coutts says on the social media platform X that the total market value of all smart contract platforms could reach a 14-figure price tag in the next six years. “By 2030, the combined market value of smart contract platforms, driven by the expanding use by AI agents could reach between $15 trillion and $25 trillion.” The analyst shares an excerpt from his firm’s Pro-Crypto November 2023 report that suggests AI will increase the demand for on-chain…
Two wallets that held a combined 1,000 Bitcoin (BTC) for more than 10 years have suddenly awoken from their slumber, according to on-chain data. The crypto tracker Lookonchain notes that the first wallet received 500 BTC worth $62,000 on Sept 12th, 2013, when the price of Bitcoin was $124. The second wallet received the same amount at the same price the following day. After more than 10 years of dormancy, both wallets transferred out all of their holdings in a 20-minute span over the weekend. The Bitcoin troves were worth a combined $60.9 million, a staggering increase of 49,012.9%. Data…
Closely followed economist Henrik Zeberg is revealing his outlook for stocks and crypto for the coming months. The macro strategist tells his 139,600 followers on the social media platform X that he believes stocks and crypto are gearing up for big rallies that may endure until the end of the year. Zeberg points to two narratives that he says bulls will latch on to justify the ascent. “1. Blow off top is not over and done – yet! Extreme rally ahead in certain indices and crypto. 2. Sentiment will become extremely BULLISH. 3. I will be called ‘Perma Bear’ as…
A popular crypto strategist is naming two Ethereum (ETH) challengers that he thinks will rise faster than the rest of the market once conditions improve. Pseudonymous analyst The Crypto Dog tells his 776,800 followers on the social media platform X that he’s long-term bullish on Near (NEAR). According to the trader, NEAR has been one of the faster horses this cycle and he believes it will burst right out of the gate once the crypto market catches a bid. “Still believe taking a multi-month NEAR position today is a good move. Lock it in and don’t trade it. NEAR keeps…
The CEO of Ripple Labs says that the company behind the biggest stablecoin by market cap could be the next target of US government regulators. In an interview with the World Class YouTube channel last week, Ripple Labs head Brad Garlinghouse warned that crypto’s next “black swan event” could involve the space’s leading stablecoin, USDT. “Do I think there’s going to be another Black Swan event? Of course. 100%. I just don’t know exactly what it is. The only one that’s going to be an interesting one to watch — and I don’t even know [if this is] a Black…
A trader who accurately called the beginning of the 2021 bear market meltdown says that the low for Bitcoin (BTC) is likely already in, based on historical patterns. Pseudonymous analyst Dave the Wave tells his 190,000 followers on the social media platform X that Bitcoin’s monthly moving average convergence divergence (MACD) indicator has slightly contracted, which traditionally signals that a bullish trend has at least temporarily lost steam. The MACD is a momentum indicator that traders use to spot potential points of trend reversals. But Dave the Wave says he doesn’t think the signal suggests that BTC’s price is headed…