Navigating Crypto News

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New evidence suggests Argentine President Milei had multiple calls with the entrepreneur behind the collapsed Libra token, contradicting his prior statements and potentially escalating fraud charges.
The ongoing investigation into the Libra token's $251 million collapse, including a draft document suggesting a $5 million deal, raises significant legal and reputational risks for President Milei.
The development casts doubt on Milei's due diligence in promoting crypto assets, potentially impacting investor confidence in similar ventures he might endorse in the future.
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Bitcoin long-term wallets have absorbed over 4.37 million BTC, indicating sustained supply reduction and a potential precursor to a bull market phase. The Bitcoin network activity index has entered a 'bull phase,' signaling increased network usage and potentially stronger market sentiment. Reduced inflows from centralized exchanges and a decrease in active addresses suggest a shift towards long-term holding, tightening liquid supply and reducing short-term trading pressure. Despite low active address momentum, historical patterns suggest this can align with profitable accumulation phases for long-term holders.
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US House members are questioning the CFTC's oversight of insider trading on prediction markets, signaling potential regulatory scrutiny that could impact platforms like Kalshi and Polymarket. While the CFTC affirmed its authority over prediction markets, concerns about "morally obscene" event contracts and suspicious trades suggest a heightened risk of regulatory action or new legislation. The ongoing legal battles and congressional inquiries into prediction markets indicate a developing regulatory landscape that traders should monitor closely for potential impacts on market access and operation.