2024 has been a positive year for the blockchain and crypto market, with Bitcoin reaching an all-time high of $73,835 on March 14.
In April 2024, BTC underwent its fourth halving, resulting in a reduction in token awards to 3.125 bitcoins. This had a significant effect on most altcoins, resulting in their prices remaining stable across the board. Kate Richardson, a proficient cryptocurrency analyst, provides valuable perspectives on the market cycle and investment tactics for the year 2025.

By 2025, it is projected that the overall value of the cryptocurrency market will reach $8 trillion, compared to the current market value of $2.24 trillion as of July 11, 2024. This would indicate a growth of more than 250% over a period of 12 months.
Bitcoin is forecast to achieve a new record high, as the current trading price for spot Bitcoin on Binance stands at $58,349. This is anticipated as a result of the increased use of blockchain-based currencies in 2025, which has the potential to cause a significant increase in prices.
ETH and Solana are expected to achieve new record highs during the upcoming crypto market surge. Ethereum’s previous peak occurred in November 2021, while Solana reached an all-time high of $259.96. These prominent alternative cryptocurrencies seem poised to get the most attention during the upcoming surge in market prices.

By 2025, a surge in crypto AI initiatives is anticipated, resulting in numerous tokens surpassing a market capitalization of $1 billion. Investing in AI projects has the potential to generate substantial profits, given the current trend of the AI market and the potential for widespread adoption by institutions.

The ApeCoin Decentralized Autonomous Organization (DAO) is now conducting a vote on a plan to construct a hotel in Bangkok, Thailand, with a concept centered upon apes.
The project is requesting a total of 410,000 APE tokens, which have an estimated value of $3.6 million. The objective of the project is to enhance the level of BAYC IP exposure and augment the visibility and utilization of ApeCoin.
The endeavor is a component of the Bored Ape Yacht Club (BAYC) community’s endeavors to expand the APE ecosystem. The idea entails allocating 50% of the earnings generated by themed rooms such as APE, BAYC, Otherside, Apechain, and Mocaverse, and depositing them into the DAO Treasury every quarter.

The plan has elicited a variety of responses among the cryptocurrency community, with some individuals expressing criticism due to concerns about excessive hotel occupancy in Bangkok and potential difficulties in the local tourism sector.
Nevertheless, the plan has garnered substantial backing, with about 5 million APE tokens being cast in the vote. Out of the total, 4.6 million tokens (equivalent to 92%) are in favor of the proposal. One specific address, 0xC602, has accounted for 67% of the affirmative votes, resulting in a contribution of 3.1 million APE tokens.
The ApeCoin DAO launched the ApeChain testnet on July 16, and this proposal is a direct result of that. The APE community has given their approval for the establishment of a layer-2 network on the Arbitrum network, utilizing the APE token for both gas fees and governance purposes.
Greg Solano, one of the founders of Yuga Labs, provided consumers with the assurance that once the mainnet of ApeChain is published, numerous decentralized applications developed by Yuga Labs will be compatible and operational on the platform.

The hotel project centered around the APE subject emphasizes the developing APE ecosystem and its potential influence extending beyond digital finance. The result of the vote will have substantial ramifications for the ApeCoin community and its forthcoming initiatives, as the hotel has the potential to function as a tangible manifestation of the APE ecosystem, drawing in both cryptocurrency aficionados and tourists

Bitcoin whales have been steadily accumulating BTC since the start of the year, suggesting an optimistic view of the crypto market. The consistent acquisition of Bitcoin by prominent holders, sometimes referred to as whales, has bolstered investor confidence and played a significant role in the upward trend of Bitcoin’s value in the last six months.
Notwithstanding the current decline in the market, evidence from on-chain sources indicates that large-scale addresses have consistently increased their holdings, reaching their peak levels since 2022.
The aggregate Bitcoin supply held in addresses with a balance of 1,000 BTC or above has reached its highest level in two years. The rise commenced in January 2024, following the launch of Spot Bitcoin ETFs in the United States, which facilitated the purchase of Bitcoin by institutional investors.
According to Glassnode data, US Spot ETFs have purchased more than 900,000 BTC within a span of only seven months. In July, Bitcoin miners also contributed to the market by acquiring an additional 4,500 BTC.
As of now, the total amount of Bitcoin (BTC) held in addresses with a balance of 1,000 BTC or more is 7.9 million BTC, which accounts of 40% of the total 19.7 million BTC in circulation.

US-based Bitcoin exchange-traded funds (ETFs) have experienced an unprecedented influx of more than $17 billion in investments, primarily due to the influence of BlackRock’s IBIT.
The presence of Bitcoin whales has diminished the downward pressure on selling, which has played a role in maintaining Bitcoin’s price stability above $67,000. On July 17th, 11 Bitcoin ETFs in the US experienced a combined daily net inflow of $53.35 million.
This marks the ninth consecutive day of positive inflows for these ETFs. Nevertheless, this amount was significantly less than the $422 million in net inflows observed on July 16.

BlackRock’s IBIT maintained its leading position, with the highest net inflows of the day amounting to $110.37 million and attaining a trading volume of $1.21 billion. Fidelity’s FBTC was the sole fund to record positive net inflows on July 17, with an addition of $2.83 million.
Grayscale’s GBTC and Bitwise’s BITB experienced net outflows of $53.86 million and $6 million, respectively. Seven other funds, such as ARK Invest and 21Shares’ ARKB, recorded no inflows for the day.
The aggregate trading volume for US spot Bitcoin funds on July 17 amounted to $1.79 billion, representing a significant decline from the peak in March, where daily volumes surpassed $8 billion.
This unprecedented influx of funds demonstrates the growing recognition and incorporation of Bitcoin into conventional investing portfolios. Bitcoin whales have reduced their selling activity since Bitcoin has experienced a recent increase in value and managed to maintain a price of over $67,000.
Julio Moreno, the head of research at CryptoQuant, said that the realized profits are significantly lower compared to March and May, during which Bitcoin surpassed $71,000.

Traders are intently analyzing if Bitcoin can remain above the important support level of $65,000 and speculating on its ability to hit $69,000. Crypto trader Milkybull Crypto predicts that Bitcoin’s next target to fulfill the weekly megaphone price pattern is $69,000, with the price pattern’s ultimate goal falling between $84,000 and $88,000. According to CoinGlass statistics, if the price reaches $69,000, it would result in the elimination of $261.9 million worth of short positions.

Although the price has not surpassed $67,000 since June 12, traders are observing multiple positive signals indicating that the upward trend may persist. $BTC

Tether has seized $29.62 million in USDT associated with illicit activity involving Cambodia’s Huione Group, showcasing its dedication to upholding the security of its stablecoin amidst growing regulatory scrutiny.
Nevertheless, the address in question persisted in transferring Circle’s USDC stablecoin, casting doubt on the efficacy of the freeze. Bitrace, a blockchain security company, disclosed that the wallet “TNVaKW,” which contained the immobilized USDT tokens, was associated with Huione Group’s guarantee business in Cambodia.
The wallet became immobilized just one week after its activation on July 9, 2024. Bitrace proposed that the freeze was likely implemented to prevent the illicit transfer of funds obtained through fraudulent activities and cryptocurrency theft. Despite the freeze, the address successfully transferred 114,800 USDC to a newly activated address, TQuFSv.
Following allegations of Huione Guarantee becoming a preferred venue for scam operators, this action has been taken. Tether’s USDT has been instrumental in enabling more than $11 billion worth of transactions since 2021, with a significant number of these transactions suspected to be associated with fraudulent activity.
Tether’s choice to suspend these USDT coins is part of a wider plan to prevent illicit behavior within the cryptocurrency realm. The act of suspending USDT associated with the Huione Group emphasizes Tether’s commitment to safeguard the reliability of its stablecoin. However, the ongoing transfer of USDC from the involved address demonstrates the difficulties in fully preventing unlawful actions.

Kraken’s Head of Strategy, Thomas Perfumo, predicts that Ethereum ETFs could attract up to $1 billion in monthly investments, potentially pushing Ethereum (ETH) to new price highs and benefiting the wider crypto market.
Perfumo also highlighted the upcoming US elections as a significant factor in the crypto industry’s future. He identified Ethereum ETFs as a key factor for the crypto market’s growth in the latter half of the year, with potential interest rate cuts and the global adoption of Bitcoin exchange-traded products (ETPs) as important drivers.
Perfumo predicted monthly inflows for Ethereum ETFs could range from $750 million to $1 billion, potentially pushing ETH’s price to between $4,000 and $5,000.
The market expects $750 million to $1 billion of monthly inflows to Ethereum ETFs, positively supporting the industry. Perfumo also highlighted the importance of legislative action in the US crypto industry, as it creates regulatory clarity that aids growth.
He mentioned bipartisan support for major regulations like the Financial Innovation and Technology for the 21st Century Act (FIT21) and efforts to overturn the SEC’s Staff Accounting Bulletin 121 (SAB 121).

FTX, a bankrupt crypto exchange, has agreed to a $4 billion settlement with the US Commodity Futures Trading Commission (CFTC), a significant reduction from the initial demand of $52.2 billion.
The settlement aims to expedite asset distribution to creditors affected by FTX’s collapse in 2022. The agreement is pending approval from US Bankruptcy Judge John Dorsey, with a hearing set for August 6, 2024. If approved, the settlement will ensure that the CFTC’s claims are addressed only after other creditors have been paid.
Some creditors are concerned that this settlement might affect their chances of full repayment. Sunil Kavuri, an FTX creditor, criticized the deal, arguing that it prioritizes government fines over compensating victims fully.
The agreement aims to avoid prolonged litigation, ensuring quicker payments to creditors and preventing the CFTC from imposing additional penalties, which helps preserve funds for creditors.
FTX’s proposed repayment plan, which seeks to repay creditors between $14.5 billion and $16 billion based on asset values from November 2022, has faced opposition.
Analysts believe that FTX’s repayment efforts could boost cryptocurrency market prices by injecting a significant amount of assets back into the market. The court’s approval of the settlement and the reorganization plan is crucial for FTX to progress with its bankruptcy process and effectively address creditor claims.

US Senator Cynthia Lummis, a strong advocate of crypto, has urged the US government to embrace Bitcoin as a reserve asset. She holds the belief that incorporating Bitcoin into the nation’s financial reserves might greatly augment the worth of the US dollar and bolster its stability and influence. Lummis, who represents Wyoming, has been a notable proponent of Bitcoin, advocating for its broader integration into the US financial system.
Lummis’s endorsement coincides with an increasing pattern of political leaders endorsing cryptocurrency, such as former President Donald Trump, who has lately expressed support for Bitcoin.
Trump cautioned that disregarding Bitcoin may potentially favor competitors like Russia and China. She is against the concept of a central bank digital currency (CBDC) for the US and advocates for a legislative structure that guarantees the security and safeguarding of self-custody Bitcoin wallets. This method enables users to securely and privately control their digital assets.
US Representative Tom Emmer, a prominent supporter of cryptocurrencies, has once again emphasized his demand for the removal of SEC Chair Gary Gensler. Emmer has consistently criticized the SEC’s approach to the digital asset business, characterizing it as “regulation-by-harassment.”
The individual leveled allegations against the SEC, claiming that it has been singling out the cryptocurrency business in an unjust manner during Gensler’s tenure. This situation underscores the continuous conflict between the SEC and proponents of cryptocurrencies, who argue that the regulatory body’s activities are impeding progress and creativity in the realm of digital assets.
Notwithstanding the ongoing discussions over regulations, the overall cryptocurrency market is displaying indications of recuperation, as the total market value of cryptocurrencies has risen to $2.15 trillion following a decline in prices during July.
In May of this year, Senator Cynthia Lummis opposed the Biden administration’s strict bitcoin rules.

Both Bitcoin (BTC) and Ethereum (ETH) have been officially acknowledged as commodities by the Commodities Futures Trading Commission (CFTC) of the US during a hearing held by the Senate AG committee on digital commodities.
Rostin Behnam, Chairman of the Commodity Futures Trading Commission, has verified that Bitcoin and Ethereum have been approved as digital commodities under the Commodity Exchange Act by a court in Illinois.
In contrast to the statements made by SEC Chairman Gary Gensler in the past, which claimed that only Bitcoin constituted a commodity and that the majority of other tokens should be regulated as securities, this is in line with the position taken by the Commodity Futures Trading Commission (CFTC). The result of this is that enforcement measures have been taken against businesses like as Binance, Coinbase, Ripple, and Uniswap Labs.
Behnam agreed that Bitcoin and digital assets require different approaches to cybersecurity and resilience compared to traditional assets in response to Senator Sherrod Brown’s inquiry about the lessons learned by the Commodity Futures Trading Commission (CFTC) from previous instances of cryptocurrency theft.
Concerns were raised by Senator Cory Booker regarding market misuse, and he stressed the role that the Securities and Exchange Commission and the Commodity Futures Trading Commission play in addressing these issues.
Behnam backed Senator Roger Marshall’s proposal that the Commodity Futures Trading Commission (CFTC) handle all regulation of digital assets, citing the CFTC’s experience as the reason. As retail interest in digital assets continues to develop in the absence of clear norms, Behnam projected that additional enforcement proceedings would be taken.

Where do you turn in the face of volatile digital assets like Avalanche (AVAX) and Internet Computer (ICP)? As AVAX teeters on the brink of a bearish trend and ICP grapples with adoption uncertainties, investors are drawn to the MoonBag (MBAG) presale as a lighthouse of stability amidst the chaos. 
With standout features like an 88% APY on staking, and a unique MoonBag referral program, this presale has gained huge traction and investors’ trust and raised over $3.3 million in under two months. Half the coins are already claimed, and the 6th stage is nearing the end. Now’s the time to navigate the crypto storms and chart a course to the MoonBag presale.

Will Avalanche (AVAX) Break The Bearish Trend or Suffer Further Sell-Offs?
Avalanche (AVAX) is standing at the brink of a crucial junction. Despite the crypto showcasing resilience by defending the $24 support, it still lurks beneath the ominous clouds of key EMAs, hinting at a bearish trend. AVAX could slip further if it fails to climb past the $33.5 resistance, if AVAX’s price drops below the $24 mark, it could spur additional sell-offs. 

Amidst this chilly crypto weather, investors are seeking warmth in the MoonBag coin’s presale, enticed by unbeatable features a toasty 88% APY on staking and a tempting MoonBag referral programme that’s offering free cryptos and passive income.
What’s Going On With Internet Computer (ICP)?
With its grand aim to decentralise the Internet, create scalable applications, lower costs, and implement a decentralised governance system, Internet Computer (ICP) was initially well-received in the crypto world. Yet, its downside is equally significant as the internet computer crypto price has been highly volatile. 
The technological complexity, the strong competition it faces, negative market sentiment, and its uncertain adoption are concerning aspects of the Internet Computer coin. However, amidst the unsettling waves of ICP, numerous investors are flocking towards the MoonBag coin presale. Boasting features like a whopping 88% APY on staking, sustainability, and more, the MoonBag coin seems to be the new haven for crypto enthusiasts!
MoonBag Presale: Your Lunar Ladder to Cryptocurrency Prosperity!
The MoonBag presale is more than just a mere coin offering; it’s a rocket ride to the moon of fortunes! Challenging the norms with its robust stability, this presale boasts a meticulously planned liquidity strategy, with a burn-and-buyback mechanism that is out of this world! Its transparent tokenomics, with clearly outlined coin allocation and team tokens locked in a cosmic vault, are designed to radiate trust. 

Started less than 2 months ago, the presale is currently in its 6th stage, having already attracted over $3.3 Million. Savvy investors can seize the opportunity to buy 3,333.33 MBAG coins at just $0.0003, before the prices skyrocket with each presale stage, along with the potential for an 88% APY and a whopping ROI of 900% till the MBAG coin hits the market. It’s high time to board the spaceship before the countdown ends!
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Conclusion
As Avalanche (AVAX) wrestles with bearish trends and Internet Computer (ICP) endures adoption blues, the crypto community is turning bullish on the MoonBag (MBAG) presale. Lauded for unbeatable features like an 88% APY and stellar paybacks through the MoonBag referral program, this meme coin presale has the investors thrilled. Don’t miss the lunar ladder to prosperity; leap into the MoonBag presale before it’s too late!

Invest in MoonBag Presale Now!
Website: https://moonbag.org/
Presale: https://moonbag.org/presale
Telegram: https://t.me/moonbag_official
Twitter: https://twitter.com/moonbag_org

Disclaimer: Any information written in this press release does not constitute investment advice. Optimisus does not, and will not endorse any information about any company or individual on this page. Readers are encouraged to do their own research and base any actions on their own findings, not on any content written in this press release. Optimisus is and will not be responsible for any damage or loss caused directly or indirectly by the use of any content, product, or service mentioned in this press release.

The crypto market is in a state of calm, poised on the brink of what many predict will be the next big bull run. Altcoins, while currently at lows, are seen as ticking time bombs ready to explode in value at any moment. With keen market observers keeping a close eye, the potential for massive gains is palpable. Knowing which altcoins to invest in before the surge can make the difference between a modest profit and striking it rich. This article unveils the top 5 altcoins poised for significant growth, offering insights into which digital currencies could potentially turn a modest investment into $1M.
CYBRO Presale Achieves $1 Million Milestone: A One-in-a-Million Investment Opportunity
CYBRO is capturing the attention of crypto whales as its exclusive token presale quickly surges above $1 million. This cutting-edge platform offers investors unparalleled opportunities to maximize their earnings in any market condition.
Experts predict a potential ROI of 1200%, with CYBRO tokens available at a presale price of just $0.025 each. This rare, technologically advanced project has already attracted prominent crypto whales and influencers, indicating strong confidence and interest. In an exciting development, CYBRO has also launched a referral program active until July 15, offering 12% from direct referees’ token purchases, 3% from second-level referees, and 2% from third-level referees. Rewards are sent weekly in USDT, and referees earn double CYBRO Points on their first deposit using the referral code.

Holders of CYBRO tokens will enjoy lucrative staking rewards, exclusive airdrops, cashback on purchases, reduced trading and lending fees, and a robust insurance program within the platform.
With only 21% of the total tokens available for this presale and approximately 25 million already sold, this is a golden opportunity for savvy investors to secure a stake in a project that’s truly one in a million.
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Blast (BLAST) Primed for Big Gains Amid Market Fluctuations
Blast (BLAST) has shown resilience despite recent market dumps, with its price hovering between $3.01 and $4.71. Bears may seem to have the upper hand for now, but the coin’s impressive growth of over 466% in the past month suggests strong potential for a bull run. The nearest resistance level at $5.42 is within reach and surpassing this could push prices toward $7.12, marking a potential growth of roughly 50%. Support at $2.02 shows strong buying interest, so keep an eye on these levels.
Arbitrum (ARB) Shows Signs of Rebound Amid Bullish Patterns
Arbitrum (ARB) currently trades in the $0.54 to $0.79 range, near its 10-day simple moving average of $0.71. Despite recent dips, trends show potential for growth. If ARB breaks its nearest resistance at $0.93, it could rise towards the second resistance level at $1.18, marking a potential increase of over 60% from current prices. The Relative Strength Index at 59.06 suggests the coin isn’t oversold, hinting at more upward movement. Effective support stands at $0.43, providing a buffer against further drops. With patterns reminiscent of 2021’s bull run, ARB may soon see significant gains.
LayerZero (ZRO) Poised for Potential Bull Run
LayerZero (ZRO) shows promising signs of growth. Despite recent market dips, its price has bounced back impressively, currently trading between $3.00 and $4.71. Bulls are making their presence felt as the coin has seen nearly 12% growth in the past week and an astounding 297% surge in the last month and six months. With the nearest resistance at $5.43 and support at $2.01, breaking through the $5.43 mark could push ZRO towards the next level of $7.13, offering a potential gain of over 50%. If the current bullish trend continues, LayerZero could become a shining star in the altcoin season.
Sui (SUI) Show Signs of a Bullish Revival amid Price Consolidation
Sui (SUI) is currently trading in the $0.53 to $0.79 range, showing a mix of bullish and bearish signs. The Relative Strength Index (RSI) at 58.47, paired with a high Stochastic value of 82.47, indicates that bulls are gaining strength. Despite a 27% drop over the past month, the token has been holding above the $0.43 support level. If SUI breaks the $0.94 resistance, we could see it rising to $1.20, a potential 50% increase from its current price. The 10-day and 100-day averages suggest steady support, making SUI a good candidate for a breakout as it consolidates for the next bull run.
Conclusion
BLAST, ARB, ZRO, and SUI may show less potential in the short-term. CYBRO, a technologically advanced DeFi platform, provides unmatched opportunities to maximize earnings through AI-powered yield aggregation on the Blast blockchain. CYBRO’s features include lucrative staking rewards, exclusive airdrops, and cashback on purchases. It ensures a superior user experience with seamless deposits and withdrawals. With a focus on transparency, compliance, and quality, CYBRO stands out as a promising project. It has strong interest from crypto whales and influencers.
Site: https://cybro.io
Twitter: https://twitter.com/Cybro_io
Discord: https://discord.gg/xFMGDQPhrB
Telegram: https://t.me/cybro_io

Disclaimer: Any information written in this press release does not constitute investment advice. Optimisus does not, and will not endorse any information about any company or individual on this page. Readers are encouraged to do their own research and base any actions on their own findings, not on any content written in this press release. Optimisus is and will not be responsible for any damage or loss caused directly or indirectly by the use of any content, product, or service mentioned in this press release.

EtherFi (ETHFI), an Ethereum-related token, experienced significant price drops in the last 24 hours after a wallet dumped 880 tokens worth $1.87 million onto the Binance platform.
The wallet, identified as “0x57C,” had previously received 10 million EtherFi tokens from the Etherfi team three months ago. The wallet now holds 8.82 million EtherFi tokens, worth around $18.43 million.
EtherFi showed a 6% daily decline in price, with a high of $2.2759 in the last 24 hours and an intra-day low of $2.0568. The token’s trading volume also showed a daily decline of 6.51%.
The EtherFi token, launched in March 2024, has consolidated prices around $3.00 to $4.00 levels since its initial price rally. However, the past week saw further price declines, driving the token to trade below $3.00, fueled by selling pressure in the market.
After the bearish trend, the token and other cryptocurrencies showed signs of recovery, with prices climbing to weekly highs of $2.243 on July 8. However, the following days saw bearish movements, while leading cryptocurrencies in the overall market showed signs of bullish trends.

FTX exchange is contesting a $264 million claim by Jump Trading subsidiary Tai Mo Shan for 800 million Serum (SRM) tokens obtained through a loan agreement with Alameda Research.
The collapse of FTX in 2022 led to the decline of Serum, a decentralized exchange that used SRM as its native cryptocurrency. Jump Trading seeks compensation using an options model considering SRM’s market price, volatility, and other financial factors.
FTX’s legal team argues that Alameda Research failed to fulfill the loan agreement by not delivering the SRM tokens, denying Tai Mo Shan’s claim. FTX disputes the $264 million damages amount, arguing that it has a solid basis and is not clearly defined.
The options model technique used by Jump Trading has been called into question, and suspicions of fraudulent transfers are also raised. The exchange is formulating a liquidation strategy to compensate exchange clients amid ongoing legal disputes.

Goldman Sachs is set to launch three tokenization projects in 2024, focusing on institutional clients and asset diversification. These projects will use private blockchains for compliance and transaction speed, setting Goldman Sachs apart from competitors.
The bank’s head of digital assets, Mathew McDermott, aims to create marketplaces for tokenized assets, enhance transaction speeds, and diversify collateral types. The initial projects will target the US market, focusing on the US fund complex and European debt issuance.
Goldman Sachs will focus on public blockchains and target retail customers, leveraging increasing market liquidity driven by the introduction of Bitcoin and Ethereum ETFs in the US. Other major financial institutions, such as JPMorgan and Citi, are also investing in tokenization technologies.
The approval of Bitcoin spot ETFs in January has made RWA tokenization one of the most optimistic trends in 2024. This development could transform capital markets and drive innovation, attracting significant interest from industry leaders. Projects like Decentralized ETF (DETF) and other crypto-native initiatives have been working on tokenization and RWA development for years.
RWA tokenization involves converting tangible assets like bonds, real estate, and debt into digital tokens on blockchain networks. The growing potential of tokenized assets has gained mainstream attention, with BlackRock’s tokenized US treasury, BUIDL, becoming the largest tokenized fund in the market.

Two former FTX executives, Nishad Singh and Gary Wang, will be sentenced in New York this fall. Singh, a former Director of Engineering, pleaded guilty to four federal charges in February 2023, testifying that Alameda Research took billions from FTX under Bankman-Fried’s orders.
Wang, a former Chief Technology Officer, pleaded guilty to fraud and conspiracy in December 2022, testifying against Bankman-Fried. He revealed he gave Alameda Research special advantages, leading to an $8 billion shortfall that contributed to FTX’s collapse in 2022.
This update comes six weeks after Ryan Salame, another former FTX associate, was sentenced to 7.5 years in prison for campaign finance violations and operating an unlicensed money-transmitting business.
Salame’s minimal cooperation led to a harsher sentence, while Singh and Wang’s extensive cooperation is expected to result in more lenient sentences, although they still face significant prison time.
Similar to Singh and Wang, Caroline Ellison, former CEO of Alameda Research, has not yet been scheduled for sentencing. Her cooperation and testimony against Bankman-Fried will likely influence her sentencing, similar to Singh and Wang.
The sentencing of these former executives is a key moment in the fallout from FTX’s collapse, as their cooperation has been vital in revealing the complexities of the fraud led by Bankman-Fried.
Bankman-Fried family is also embroiled in a $100 million financial scandal, which revolves around the misuse of commercial assets of the exchange for the purpose of making political contributions.

Shiba Inu meme coin has been secretly led by its founder, Ryoshi, and current Lead Developer, Shytoshi Kusama. Kusama has hinted that he might step down, as part of future plans for the Shiba Inu community.
The project is planning a tour to several locations, starting in Kyoto, Japan, called the “Treat Yourself” tour, which is linked to the upcoming TREAT token launch. The tour is part of broader efforts to realize Ryoshi’s vision for Shiba Inu.
Another key development is introducing fully homomorphic encryption for SHIB holders through the Zama AI encryption system, aiming to improve security and privacy in SHIB transactions. The team will also host “SHIBACON 2024” in Thailand, marking Kusama’s eventual withdrawal from leadership.
Ryoshi stayed anonymous despite Shiba Inu’s popularity, deleting all social media and online history to maintain anonymity. This parallel adds intrigue to Shiba Inu’s leadership changes and highlights the project’s focus on decentralization.
Kusama’s hinted departure aims to ensure Shiba Inu remains decentralized and leaderless, empowering the community to lead the project forward, aligning with the vision of a self-sustaining ecosystem that thrives independently.

Tron founder Justin Sun has announced the development of a system to enable gas-free peer-to-peer (P2P) stablecoin transfers. This feature will cover the cost of transfers by the stablecoins themselves, eliminating gas fees for users.
The feature will first be implemented on the Tron blockchain, with future support planned for Ethereum and all Ethereum Virtual Machine (EVM) compatible networks. Sun expects the launch in the fourth quarter of 2024.
According to blockchain analytics firm Artemis, Tron has seen consistent growth in all stablecoin metrics, with its circulating supply reaching an all-time high of $60 billion. Tron leads in P2P stablecoin transfers, surpassing Ethereum by two to three times. This data suggests Tron is facilitating more payments and money transfers than decentralized finance (DeFi) activities.
Tron’s innovation in gasless transfers could challenge PayPal’s stablecoin PYUSD, which allows free cross-border stablecoin transfers for certain U.S. users.
Another competitor could be Circle’s USD Coin (USDC), the second-largest stablecoin after Tether (USDT). USDC transfers are already gasless on Ethereum layer 2 blockchain Base, developed by Circle, and can be conducted using the Coinbase wallet.
Tron is also considering developing a Bitcoin layer 2 network to support a wrapped version of Tether, potentially bringing millions of dollars into the Bitcoin ecosystem. Sun’s announcement follows the recent decision by Circle and Binance to stop supporting USDC on the Tron network.
The potential of gasless stablecoin transfers on the Tron network aligns with the broader trend of reducing transaction costs in the crypto space. By making transactions cheaper and more efficient, it could encourage more businesses to integrate blockchain into their operations, driving further innovation and growth in the sector.