Top stories of this week
Australian Fintech Finder Wins Court Battle for Crypto Yield Products
The Australian Federal Court upheld and cleared Fintech Company Finder.com and found its yield product, Finder, had lasted almost three years in a legal battle with the Australian Securities and Investment Commission (ASIC).
In a court ruling Thursday, Judge Stewart, Cheeseman and Meagher confirmed their previous decision that earning money with a finder wallet complied with consumer finance laws.
A federal court “confirmed the initial discovery that Finder’s earnings are not a financial product,” Finder said in a blog post Thursday.
Bitmine Gobbles exceeding $20 billion in ETH in 16 days amid the Treasury arms race
Bitmine Immersion Technologies, a Bitcoin mining company, acquired more than $2 billion in ether in just 16 days, taking the lead amid the gust of the newly formed ether financing company.
Bitmine said in a statement Thursday that it has acquired 566,776 ether in the last 16 days, exceeding $2.03 billion.
Tom Lee, managing partner of FundStrat and chairman of Bitmine, said after the latest purchase, the company is “in the middle of achieving its goal of winning and capturing 5% of its total ETH supply.”
The aggressive purchase of Bitmine indicates a growing interest from Ethereum institutions.
XRP prices fall 19%, but analysts say it’s a “healthy fix”
XRP prices fell 12.5% on Thursday, falling in conjunction with the broader crypto market, reducing 3% to $3.79 trillion over a 24-hour period.
Despite this fix, analysts call it a “healthy pullback” and the double-digit XRP price target is still playing.
XRP prices fell on Thursday from a multi-year high of $3.66 to $2.95 in a day from the Cointe Legraph Markets Pro and TradingView shows.
Cascade liquidation and thinning liquidity promoted a drop in XRP as excessively leveraged longs were washed away completely.
Hulk Hogan and Ozzy Memokine are tributes soaring with icon death
Inspired by late wrestling legend Hulk Hogan and Black Sabbath rocker Ozzy Osbourne, Memocoin spiked as he paid tribute to the deaths of two popular icons this week.
Terry Borea, well known for his wrestling ring name, Hulk Hogan, reportedly died at the hospital at age 71 on Thursday after Medic arrived at his home to answer calls about possible cardiac arrest.
This comes days after Ozzy Osbourne, the hard-party frontman of British rock band Black Sabbath, passed away on Tuesday at the age of 76.
Hogan was WWF’s most famous wrestler in the 1980s, with a decades-long career in both the ring and television and film.
Osborne, often referred to as Prince of Darkness, is considered a legend in the world of music and is considered an iconic heavy metal musician. It is estimated that Black Sabbath has sold 75 million albums worldwide.
Ether quickly surpasses Bitcoin by “Knocking $4,000”: Novograts
The rapidly growing institutional interest in Ethereum has sparked a supply shock and an etheric position, potentially surpassing Bitcoin in the next six months, says Michael Novogratz, CEO of Galaxy Digital.
“There’s not much ETH supply, so I think ETH will likely have an opportunity to surpass Bitcoin in the next three to six months,” Novograts told CNBC on Thursday.
“If ETH receives $4,000, you’ll fall into a price discovery,” he said. According to Nansen, it refers to a level representing a jump of around 8.5%, at $3,618 from the current price of Ether.
Most memorable quote
Authors of Robert Kiyosaki and Rich Dad Poor Dad:
“‘The pigs get fat… The pigs are slaughtered.” I’m buying another one (Bitcoin).
Mena Theodorou, Coinstash Co-Founder and Head of Product and Marketing:
“If you’re analytical, if you follow a pattern and take an emotionally-free approach, you’ll do well in the crypto space.”
Michael Novogratz, CEO of Galaxy Digital:
“There’s not much ETH supply, so I think ETH will likely have an opportunity to surpass Bitcoin in the next three to six months.”
Markus Thielen, CEO of 10x Research:
“We believe Ethereum will appear vulnerable soon.”
Solomon Tesfaye, Chief Business Officer, Aptos Labs:
“We see more open dialogue between policymakers and Web3 leaders that gives them the confidence to shape the law and commit to a longer digital asset roadmap.”
Mister Crypto, pseudonym Crypto Trader:
“Large short apertures are inevitable!”
Winners and losers
At the end of the week, Bitcoin (BTC) is $117,962, Ether (ETH) is $3,774 and XRP is $3.20. According to Coinmarketcap, the total market capitalization is $3.88 trillion.
Of the 100 biggest cryptocurrencies, the top three Altcoin Gainers of the week are 72.84% Conflux (CFX), 47.25% Ethena (ENA) and 35.84% Pudgy Penguins (Pengu).
The top three Altcoin losers this week are Pump.fun (Pump) 41.74%, Sonic (S) with 11.04% and Aptos (APT) with 9.38%. Be sure to read our Cointelegraph Market Analysis for more information on crypto pricing.
Top forecast of the week
Eric Trump agrees that ether should exceed 8k as global M2 money will skyrocket
Analysts say Ether is undervalued and “we need to trade above $8,000” as global liquidity measured by the Broad Money Supply (M2) hit a new record high of $95.58 trillion on Friday.
Global liquidity supply (M2) aggregates US dollar-adjusted liquidity from major economies such as the US, Eurozone, Japan, the UK and Canada.
A rising M2 means that more money is circulating in the economy, including bank accounts, deposit checks and other liquid assets. Such surplus liquidity can increase capital inflows into risky assets such as crypto.
The ether appears to follow a similar M2 supply trajectory defined by the Wyckoff accumulation method in 2025, but there is a considerable delay period.
Top FUD of the Week
Arizona woman was declared for helping North Korean coders get us a crypto job
An Arizona woman has been sentenced to more than eight years in federal prison for using stolen identity and fraudulent documents to help North Korean operatives break into US cryptocurrency and tech companies.
Christina Marie Chapman has been convicted of conspiracy to fraud, identity theft and money laundering conspiracy, according to a Thursday announcement by the District of Columbia’s U.S. Lawyers’ Office. She was sentenced to 102 months, or about 8.5 years.
Prosecutors said Chapman will work with operatives linked to the Democratic Republic of Korea to acquire remote IT positions at more than 300 US-based companies. North Korean workers became US citizens and residents, and the scheme generated more than $17 million in illegal income.
Bitcoin falls below $116K on Bloodbath at Crypto Longs
Over five billion advantages were liquidated across the crypto market on Friday as Bitcoin prices fell below $116,000 amid a widespread market downturn.
Coinglas data shows that a long position of $585.86 million was liquidated, with Bitcoin falling 2.63% to $115,356, accounting for that total of $140.6 million.
Ether continued with a long liquidation of $104.76 million, falling 1.33% to $3,598 over the same period.
New York’s code torture cases suspect $1 million bail each
Two men accused of luring and torture Italians in a Manhattan townhouse as part of a cryptocurrency tor plot are on bail.
John Woeltz and William Duplessie, 33, 37, were issued $1 million bail on Wednesday by New York’s Supreme Criminal Court Judge Gregory Caro, a report by ABC News. Both men reportedly pleaded not guilty to charges such as tricking, assault and coercion.
This case stems from a code horror incident that took place several months ago. It is said that on May 6, a 28-year-old cryptocurrency trader visited from Italy was accused of being accused of being accused of New York.
According to prosecutors, the man was held hostage for several weeks and repeatedly tortured as his prisoners tried to force him to reveal his Bitcoin eligibility.
This week’s top magazine story
Robinhood’s tokenized stock has stirred up legal wasp nests
Tokenization of stocks opens legal questions about jurisdiction, buyer protection, and the boundaries of innovation and illegality.
Hong Kong’s Stablecoin Frenzy, Pokémonon Solana: Asia Express
The Solana app uses NFT Gachas to bring Pokémon cards to Web3, while FTX blocks Chinese creditors and sells claims in backpacks.
Bitcoin Inheritance: A Guide for Heirs and Not Died
Your Bitconnor Og Uncle has just died and you will inherit a small fortune. But how do you find it and get it back from a replacement, ETF, or hardware wallet?
