News

👀 WazirX Criticizes External Forces Delaying Restructuring Plans

WazirX outlines recovery plans and criticizes external parties for hindering its restructuring process after a $230M crypto hack.

WazirX cryptocurrency exchange recently announced its strategic decision to pursue a restructuring path amidst ongoing crypto hack issues. The company approach is aimed at effectively navigating current challenges.

Despite the chosen route, the crypto exchange pointed out that certain external parties are attempting to derail the process, potentially prolonging the uncertainty for other reasons.

⚠️ FTX Restructuring Plan Faces Legal Hurdles Despite Creditor Support

FTX restructuring plan face objections from the U.S. Trustee & creditors over legal protections and payment issues, despite creditor support.

The reorganization plan of FTX, the bankrupt crypto exchange, is facing legal hurdles from the U.S. Trustee and a group of creditors, which raises questions as to its implementation., This decision was made in light of a report that pointed to the fact that the plan had been approved by the creditors, with over 95% of them voting in favour of the plan.

🚀 Top Crypto Headlines & Trends: BTC At $64K, RFK Jr. Endorses Trump, Kraken Suit

Several headlines moved crypto market this week including Fed Chair Jerome Powell’s speech, RFK Jr. endorsing Donald Trump, and Kraken suit.

The crypto market saw bullish events igniting positive sentiments last week. Macro factors and the United States election campaigns of Donald Trump were the highlights as crypto policies continued to shape investors’ sentiment. US Federal Reserve Chair Jerome Powell also gave a strong hint at Fed rate cuts taking Bitcoin price above $64,000.

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Markets

🔥 4 Top Cardano Alternatives To Turn $1 Into $100 In Q4

Explore 4 top Cardano alternatives that could deliver 100x gains in Q4 as ADA faces ongoing underperformance.

Cardano alternatives such as Toncoin (TON), Avalanche (AVAX), Tron (TRX), and SUI could gain significant momentum during the current market recovery as ADA continues to exhibit an underperforming trend. Currently trading at $0.39, the Cardano price is 33% down YTD (Year-to-date) and 87.3% from the All-time High of $3.1.

As the ADA price correction has yet to be confirmed as a bottom formation, sellers could drive a prolonged downfall in the near future.

📊 Crypto Market Awaits US PCE Inflation & Other Key Events, What To Expect?

The crypto market awaits key events, including US PCE inflation data and Fed officials' remarks, which may impact market sentiment and influence upcoming rate cuts.

The crypto market noted a robust rally last week, with soaring bets over a potential Fed rate cut in September. Bitcoin neared the $65,000 level over the weekend, with Ethereum trading at $2,800. Now, the focus has shifted to the upcoming US PCE data, which would provide further cues on the inflationary pressure in the nation, along with several other key events.

So, let’s take a look at the major events and see how they may impact the market sentiment in the coming week.

💲 Ethereum Price: Report Shows ETH Will Flip Bitcoin In Next 5 Years

Ex-Coinbase exec Nick Tomaino's 1confirmation predicted Ethereum price to surge unprecedentedly in the next 5 years, eventually flipping BTC.

The recent LP letter from 1confirmation, a crypto investment fund founded by former Coinbase executive Nick Tomaino, made a bold prediction. It anticipates an Ethereum price surge with ETH set to surpass Bitcoin (BTC) in market capitalization within the next five years. However, the short-term analysis suggests turbulence for ETH.