Category: Crypto market

Solana: Meteora faces a rug pull allegation over M3M3 coin

Posted on by Olumide Adesina

The class-action lawsuit that Meteora faces for pump-and-dump schemes regarding the M3M3 meme coin launch has come as no surprise. Pumped by Solana’s decentralized exchange, Meteora was always bound to attract attention.

According to the complaint, purported losses surpassed the $69 million mark from December 2024 to February 2025.

Meteora and its founder, Benjamin Chow, were also accused, along with venture firm Kelsier Labs and multiple executives. Claiming that the alt Solana token’s price was manipulated, the Motion Attack founders, Thomas Davis, Hayden, and Gideon, alleged that they profited from the Solana-based token at public expense

“Defendants are accused of arranging the launch of M3M3 on Meteora, to sell only to themselves and a select group of insiders,” the defendants’ lawyers claimed.

The claim also stated that some participants in the M3M3 scheme covertly snatched over 95% of the coin supply within the first 20 minutes. By purchasing access to over 150 wallets, these buyers didn’t just have access to pump the price but to inflate it.

Shortly after the rollout, a sharp market crash occurred due to the dumping of their holdings after the value spiked.

Investors were assured that the launch would be open and transparent, with staking rewards derived from the Meteora platform transaction costs.

However, according to the April lawsuit, these representations were made with deliberate deception. By requesting that stake-based meme coins like M3M3 be formally classified as securities, the application further aims to provide regulatory clarity. According to Burwick Law, this classification may impact every new political token or personality introduced to the Solana market.

$TRUMP on Steam after holders invited to meet U.S. President

Posted on by Olumide Adesina

The “TRUMP” meme coin, which has plummeted to 90% of its peak value, gained traction as the website for the meme coin invited the top 220 holders of the digital token to “an exclusive dinner” with the President. The token was up by 40% within a day and breached the $12 mark

It certainly adds to the worsening conditions that set in after the peak of 75.35 the day before Mr. Trump’s inauguration, while this gain does not compensate for the previous fall in the value of the coin

The dinner offer states that the $TRUMP coin buyers will be able to “Hear close-up, from President Trump, about the future of Crypto!” Mr. Trump bolstered his investment in digital products and assured the transition of the US into the center of cryptocurrency, turning it into a digital “superpower.”

According to the Trump coin website, CIC Digital LLC, The Trump Organization, and The Fight Fight Fight LLC own 80 percent of the meme coins. The Wall Street Journal notes that Fight Fight Fight is a Delaware-based LLC.

The website mentions that exclusive dinner invitations with Mr. Trump will be given only to the highest holders of the $TRUMP meme coin.

A bonus of “an Exclusive Reception before Dinner with YOUR FAVORITE PRESIDENT!” is given to the top 25 holders.
“Our leaderboard is updated in real time every hour. You are in the running based on your $TRUMP coin count. There is a lot of competition. “Own $TRUMP — or watch from the sidelines,” the coin’s marketing website states.

The website states that the average holdings of $TRUMP owners from April 23 to May 12 will be used to calculate the leaderboard. “The more $TRUMP you hold — and the longer you hold it — the higher Your Ranking will be,” it said.

The website states that the dinner will be held on May 22 at the Trump National Golf Club in Washington.

Ripple bullish under new U.S. SEC Leadership

Posted on by Olumide Adesina

Stuart Alderoty, Ripple’s chief legal officer, fanned the flames of speculation once again regarding the possibility that the U.S. Securities and Exchange Commission might reconsider its approach to crypto regulation.

 

Alderoty noted on X that SEC Chair Atkins was quoted in POLITICO stating he’s ushering in “a new day” at the SEC: “Great minds? Well, at least one for sure – his.” Alderoty appears to seize this moment to align with Ripple, suggesting that his chair’s reformist rhetoric aligns with Boundless Ripple’s long-standing legal and regulatory arguments.

The XRP community has long awaited Ripple in their XRPs, hoping for a definitive moment in history when XRPs become favorable after prolonged legal disputes that have been heated over the years. Other digital markets have joined the discussion, highlighting Alderoty’s quote as Ripple’s chance to turn the tables.

“A new day” was not phrased mindfully. It reflects Atkins’ approach towards crypto firms – stifling innovation, as Ripple and many other firms IN the past few years. These companies characterize the SEC’s stance on unclear and indiscriminate boundaries as overwhelming and immature.

A shift in the SEC’s regulatory approach will likely boost XRP and the broader digital asset ecosystem. The business has been plagued by legal ambiguity, with enforcement actions usually bringing clear guidance. Ripple, one of the most vocal opponents of this approach, has cautioned that the US’s lack of clear restrictions is driving innovation elsewhere.

Forex Signals April 23: DJIA Bullish Open on Trade Deal Optimism?

Posted on by Skerdian Meta

A volatile week saw gold, equities, and cryptocurrencies swing sharply on political shifts and investor sentiment, so we expect a bullish open for DJIA.

Continue reading “Forex Signals April 23: DJIA Bullish Open on Trade Deal Optimism?” →

MicroStrategy Stock (MSTR) Price Soars 9% as BTC Breaks Above $90K

Posted on by Skerdian Meta

MicroStrategy MSTR shares are rallying sharply as surging Bitcoin prices reignite investor appetite for crypto-heavy tech stocks.

Continue reading “MicroStrategy Stock (MSTR) Price Soars 9% as BTC Breaks Above $90K” →

Bitcoin benefits From U.S dollar Crash

Posted on by Olumide Adesina

The pioneer cryptocurrency asset peaked at $88,500  as the dollar index maintained a 3-year low. BTC held firm despite a marginal drop in the global cryptocurrency market capitalization to $2.75 trillion.

 

The Crypto Fear and Greed Index showed a level of 31, indicating overwhelming fear that has remained entrenched since February.

The recent surge in bitcoin was driven by institutional demand, as seen by Monday’s $381.40 million inflow into US spot Exchange Traded Funds (ETFs). Microstrategy (MSTR) purchased 6,556 Bitcoins for $556 million.

SoSoValue data highlighted Monday’s net inflow of $381.40 million into the US spot Bitcoin ETF was the largest daily inflow since January 30. Despite being much less than the inflows seen in early November, these inflows are good for Bitcoin because they show high institutional demand.

The US Dollar Index, which measures the US Dollar (USD) strength against six major currencies, is stagnant near a three-year low during the week on Tuesday.

The markets were taken aback when the US Dollar dropped in value during the Asian trading session and when European and US markets operated with a skeleton crew due to the Easter Monday bank holiday.

United States President Donald Trump has shifted his attention to the Fed and targeted Jerome Powell, calling him “a major loser” for not cutting interest rates and exploring ways to dismiss the Chairman, adding more downward pressure on the Greenback.

Chairman Trump intensifies his onslaught against the Fed with glaring insults, and the threat of an economic cloudy day has sparked economic snowstorm déjà vu.

Ripple: XRP classified a ‘crypto security’ in lawsuits against Coinbase

Posted on by Olumide Adesina

XRP, the cryptocurrency associated with Ripple, sustained considerable damage when Oregon’s AG Dan Rayfield included it with several other tokens in a class action lawsuit against Coinbase on the list of unregistered securities.

 

Coinbase, in its defense statement, claimed that the AG was trying to bring back some form of regulation through enforcement, which begs the question of why Rayfield, who chased reality, let go of his reasoning and slapped such a lawsuit that is essentially devoid of merit.

The designation XRP as ‘crypto security’ is a contradiction, considering the token is said to have some regulatory clarity. A federal judge ruled in 2023 that XRP is not a security when sold to retail investors on public exchanges and must be accepted.

This was after the SEC dropped their appeal, along with former Chair Gary Gensler, who stepped down earlier this year.

Meanwhile, XRP futures trading by Coinbase Derivatives and an increase in open interest are two factors that might be driving the token’s bullish momentum.

Although the cryptocurrency market experienced improvements and technical indicators are signaling buy opportunities, a loss of support at $2 could accelerate losses to the 200-day EMA at $1.95.

Coinbase Derivatives, a division of the Coinbase cryptocurrency exchange, may begin trading XRP futures contracts on Monday. Coinbase declared Coinbase Derivatives had submitted a request to “self-certify” XRP futures to the Commodities Futures Trading Commission (CFTC) on April 4.

If approved, this development would facilitate institutional adoption of XRP, providing investors access to a regulated instrument for one of the most liquid digital assets in the market.

 

Forex Signals April 22: Mind Tesla and Google Earnings After US Stock Markets Close

Posted on by Skerdian Meta

With no concrete progress on trade deals, investors sold off U.S. assets while today we have Tesla and Alphabet Q1 earnings, offering potential catalysts in a jittery market. Continue reading “Forex Signals April 22: Mind Tesla and Google Earnings After US Stock Markets Close” →

 South Korea prefers Ripple’s XRP to Bitcoin

Posted on by Olumide Adesina

South Korea has the world’s largest appetite for XRP. According to All Things on significant domestic exchanges, the token’s trading volume routinely outpaces Bitcoin.

XRP  surpassed $6 billion in daily volume on Upbit, the top trading platform in South Korea, and accounts for over one-third of all trades on the platform. This is more than just short-term conjecture. Over 3.5 million South Koreans, or almost 7% of the country’s population, own XRP. Recent reports supporting his claims indicate that XRP has surpassed Bitcoin as the most traded cryptocurrency on Upbit.

All Things reported that the digital asset’s trading volume was three times that of Bitcoin amid high  geopolitical uncertainty

The volume of XRP has consistently surpassed that of other leading assets in the nation, indicating a distinct level of local trust in the asset’s dependability and usefulness.

South Korea’s strong support for XRP reflects the need for efficient, reasonably priced international money transfers that traditional banks haven’t met. Investors look to XRP as a refuge and a go-to asset to handle a shattered international transaction as traditional banks falter.

The asset class is only 3% away from its next major resistance level, $2.2, according to price action, which is currently around $2.15. The altcoin may see additional price growth if buying pressure increases, and it can turn this price point into a support floor. Under these circumstances, XRP might increase to $2.29.