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The bankruptcy court-appointed administrator of the Terraform Labs collapse is suing Jump Trading, accusing the high-speed trading company of illegally profiting from and contributing to the $40 billion crash, according to the Wall Street Journal.Todd Snyder, tasked with winding down what remains of the crypto empire, is seeking $4 billion in damages from the trading company, its co-founder William DiSomma and Kanav Kareiya, who began as an intern and rose to become the platform’s president. Terra’s Post-Chapter 11 X account confirmed WSJ’s story in a post on X on Friday“Jump Trading actively exploited the Terraform Labs ecosystem through manipulation, concealment,…

The bitcoin price dropped sharply today after a brief pump near $90,000, sliding to $84,544 as the price sell-off continued into its second month.  Bitcoin lost 2% over the past 24 hours. It remains 5% below its seven-day high of $89,220 and hovers near the week’s low of $84,596. Trading volume reached $56 billion. Bitcoin’s market capitalization stands at $1.69 trillion. The circulating supply is roughly 19.96 million BTC out of a total 21 million, according to Bitcoin Magazine Pro data.  The drop follows a brief rally that earlier saw the Bitcoin price test $89,000. The surge came after the…

By Francisco Rodrigues (All times ET unless indicated otherwise)Bitcoin BTC$88,017.36 rose above $88,000 even after the Bank of Japan increased interest rates to the highest in nearly 30 years, a move that would have been expected to strengthen the yen and make the carry trade less attractive. Instead, the currency weakened on concerns the higher rates would endanger the spending plans of Prime Minister Sanae Takaichi, who took office in October. The yield on the 10-year Japanese government bond touched 2% for the first time since 2006.Other cryptocurrencies also advanced. Ether ETH$2,957.65 added 3.4% in the last 24 hours, though…

The U.S. Securities and Exchange Commission has charged Danh C. Vo, founder and CEO of bitcoin mining company VBit Technologies Corp., with defrauding investors out of $48.5 million.  According to the SEC, Vo misused the funds for gambling, cryptocurrency purchases, and gifts to family members, while misleading investors about the operations of his business. The complaint, filed in the U.S. District Court for the District of Delaware, alleges Vo raised over $95.6 million from approximately 6,400 investors between December 2018 and February 2022.  He sold “hosting agreements,” which promised investors a share of profits from bitcoin mining rigs operated by…

Bybit says it is returning to the United Kingdom after a two‑year pause with a new UK platform offering spot trading on 100 pairs and a peer‑to‑peer venue. The Dubai‑based exchange shut off local UK customers in late 2023 when the Financial Conduct Authority’s (FCA) tougher financial promotion rules kicked in. According to a press release shared with Cointelegraph, the service is being rolled out under a promotions arrangement approved by Archax, an FCA‑authorized firm, rather than via Bybit’s own registration or authorization in the UK.Tailored UK products “transparent” and “compliant”Bybit pitches the reboot as a way to comply with a…

The administrator of Terraform Labs’ bankruptcy, Todd Snyder, has filed a lawsuit seeking $4 billion in damages from trading company Jump Trading and multiple executives.According to a Friday Wall Street Journal report, the lawsuit alleges that Jump Trading unlawfully profited from and contributed to the 2022 crash of Terra. Alongside the company, the suit is also aimed at its co-founder, William DiSomma, and the former president of the crypto trading department, Kanav Kariya.Terraform Labs and the Terra blockchain ecosystem collapsed in 2022 when its native algorithmic stablecoin, TerraUSD (UST), lost its peg to the US dollar. The stablecoin was backed…

Bitcoin may have ended its historical four-year cycle, signaling an incoming year of downside, despite widespread analyst expectations for an extended cycle driven by regulatory tailwinds.Bitcoin’s (BTC) $125,000 all-time high on Oct. 6 may have signaled the top of the current four-year Bitcoin halving cycle, both in terms of “price and time,” according to Jurrien Timmer, the director of global macroeconomic research at asset management firm Fidelity.“While I remain a secular bull on Bitcoin, my concern is that Bitcoin may well have ended another 4-year cycle halving phase,” wrote Timmer in a Thursday X post. “Bitcoin winters have lasted about…

Custodia Bank, a crypto‑focused bank founded by Bitcoin advocate Caitlin Long, is doubling down on efforts to obtain a master account at the US Federal Reserve by filing a new petition in the United States Court of Appeals for the Tenth Circuit.On Monday, the Wyoming-chartered company filed a petition asking all active judges of the Tenth Circuit to reconsider its October decision upholding the Federal Reserve’s denial of a master account for Custodia.Through the petition, formally termed a “rehearing en banc,” Custodia argued that the panel had misread the Monetary Control Act, which it asserts entitles any eligible bank to…

Wyoming-based crypto bank Custodia filed a new petition in its long-running legal battle against the Federal Reserve for access to a master account, requesting a rehearing en banc before the full Tenth Circuit Court of Appeals.Custodia Bank is asking the court to reconsider its October ruling that sided with the Fed in denying the bank access to core central bank payment services, in a fight that has become a pacesetter for crypto banking access to the U.S. payments system.In the petition for rehearing en banc filed on Dec. 15, Custodia is urging all active judges on the court, not just…

On December 16, 2025, the cryptocurrency MYX made headlines by crossing the $3.5 mark, a notable threshold for traders. This development has sparked discussions in the financial markets regarding whether the price surge is due to a temporary short squeeze or a more fundamental shift in market dynamics. Understanding these underlying causes is crucial for investors and analysts, who are keen to decipher the implications for future trading strategies and market behavior. The rally in MYX’s price is of considerable interest to market observers, primarily because it raises questions about the sustainability of such gains and their potential impact on…