Crypto World
Cryptio Raises $45M As Tokenized Finance Drives Demand For Accounting
Cryptio, an accounting and data platform focused on regulated digital assets, has raised $45 million in a Series B funding round, highlighting growing demand for tools that help financial institutions reconcile and report blockchain-based transactions within traditional accounting systems.
The round was co-led by venture firms BlackFin Capital Partners and Sentinel Global, with participation from 1kx, BlueYard Capital, Alven and Ledger Cathay Capital.
Cryptio develops software that helps companies reconcile activity across wallets, custodians and exchanges, translating blockchain transaction data into accounting records used for financial reporting, audits and compliance.
The company says it serves more than 400 enterprise clients and has processed over $3 trillion in transaction volume. Its clients include crypto companies such as Circle, Gemini and Securitize, as well as traditional financial institutions, including Société Générale’s SG-Forge.
Several other companies operate in the same niche as Cryptio, highlighting the emergence of a small but growing market for crypto accounting and financial reporting infrastructure. Companies such as Lukka, TaxBit, Bitwave and CoinLedger offer software that helps businesses reconcile blockchain transactions and convert them into records used for tax reporting, audits and regulatory compliance.
Related: Amid crypto VC shakeout, Dragonfly closes $650M fund with focus on real-world assets
Demand for tokenized finance infrastructure continues to grow
Cryptio’s growth is also being fueled by rising institutional interest in tokenized assets, which require accounting systems capable of recording and reconciling blockchain-based financial activity.
Sidra Pervez, senior vice president at tokenization firm Securitize, said maintaining accurate financial records across capital markets is becoming more important as traditional finance expands into tokenized securities.
Loic Fonteneau, managing director at BlackFin Capital Partners, said “digital assets are becoming embedded within regulated financial markets,” which requires “institutional-grade infrastructure” to support accounting, tokenized asset reporting and lending.
Major financial institutions are increasingly participating in tokenization, with the likes of HSBC, BNP Paribas and Goldman Sachs backing the tokenization-focused Canton Foundation. The industry group supports the development and governance of the Canton Network, a blockchain designed for regulated financial markets.
In January, State Street announced the rollout of a new crypto tokenization tool to help clients create tokenized money market funds, exchange-traded funds and tokenized deposits.
While estimates vary, industry data shows that the total value of tokenized real-world assets, excluding stablecoins, has surpassed $26 billion, with much of the demand coming from private credit and US Treasurys-backed funds.
Other fast-growing segments include tokenized money market funds — blockchain-based versions of traditional funds that invest in short-term government debt and other low-risk securities.
AVAX price hovered near a key level on Thursday as the market reacted to the launch of a new exchange-traded fund tied to the token.
Summary
- AVAX traded near the top of its weekly range as Grayscale’s Avalanche ETF started trading.
- The new product gives traditional investors exposure to Avalanche and its staking rewards.
- Traders are watching the $10 level, which has acted as a strong resistance zone.
At press time, Avalanche (AVAX) traded at $9.58, down about 0.8% over the past 24 hours. The token has moved between $8.82 and $9.87 over the past week and is now close to the top of that range.
AVAX has gained around 8.8% in the past month as buyers try to push the price higher again. Even so, the token is still about 47% lower than it was a year ago, after the long slide that hit much of the crypto market.
Activity in the derivatives market cooled a bit during the last day. CoinGlass data shows futures volume dropping 26% to $489 million, while open interest slipped 4.41% to $432 million.
When both numbers fall at the same time, it often means some traders are closing positions while others wait for the next move.
Grayscale Avalanche ETF begins trading
The market is reacting to a new product from Grayscale Investments. The firm’s Grayscale Avalanche Staking ETF, trading under the ticker GAVA, began trading on March 12 on Nasdaq.
The fund first appeared as the Grayscale Avalanche Trust in August 2024. At that time it was only available through private placement for accredited investors. After a filing with U.S. regulators in 2025, the product was converted into a publicly traded exchange-traded product.
The ETF started trading with a net asset value of $23.33 per share and about $5.55 million in assets under management. It tracks the price of AVAX and also factors in staking rewards earned from the network. Staking on Avalanche returned roughly 7% on average in 2025, which is now reflected in the structure of the fund.
Products like this often bring new attention to a token because they allow investors to gain exposure through traditional markets. Whether the ETF attracts large inflows will likely determine how much impact it has on AVAX price.
AVAX price technical analysis
On the chart, AVAX is slowly moving toward the $10 mark, which has acted as a strong barrier during previous rallies. The price is now close to the upper Bollinger Band near $9.8–$10, and traders are watching to see if it can push above that area.
Volatility has been shrinking over the past several days as the Bollinger Bands move closer together. This type of setup often appears before a bigger move once price finally breaks out of the range.
AVAX has also moved back above its 20-day moving average near $9.1–$9.2. That level held during recent pullbacks and buyers stepped in each time the price approached it.
Momentum has improved as well. Slightly above the neutral zone, the relative strength index is currently at 53. Since the indicator is not yet in overbought territory, price movement is still possible if buying pressure persists.
Beginning early February, the chart has also started to show higher lows, a pattern that often appears when buyers slowly build positions.
Support is near $9.10–$9.20, while a deeper pullback could test the $8.40–$8.50 area. For now, the main level traders are focused on remains $10. A clear daily close above that line would be the first strong sign that AVAX may be turning upward after months of decline.
Donald Trump is billed as the keynote speaker at an event in Florida for his top memecoin holders, which comes as the token hits an all-time low.
US President Donald Trump’s memecoin saw a slight bump up from its all-time low after the team behind the token said its top holders will be given access to the president at another exclusive event.
The Official Trump (TRUMP) token team posted to X on Thursday that a luncheon with Trump at his Mar-a-Lago residence in Florida on April 25 is up for grabs for the top 297 holders of the token.
The memecoin’s website bills Trump as the keynote speaker of the event; however, a White House official told Politico that the event isn’t locked in on Trump’s schedule, and is taking place the same day that Trump said he would attend the White House Correspondents’ Dinner.
Eligibility to attend the event is limited to the top 297 holders based on time-weighted holdings between Mar. 12 and April 10. Attendees will also need to pass a background check. The top 29 holders will also qualify for a private reception with Trump.
It is the second event for holders of the TRUMP token, with the first taking place at a Trump golf club in May, which attracted concern from critics who accused Trump of using his position as president for personal financial gain.
TRUMP climbs out of low on gala offer
The TRUMP token hit a high of $3.06 on Thursday amid news of the gala, climbing from an all-time low of $2.73 hours earlier, according to CoinGecko.
TRUMP is up 2.4% in the past 24-hours to $2.94, but is down 96% from its all-time high in January 2025 of $73.43.
At the first event for TRUMP token holders last year, Tron founder Justin Sun was the largest tokenholder in attendance, which was reportedly enough to earn him a watch presented during a ceremony.
Related: US Senate votes to include CBDC ban in bipartisan housing bill
Infinex founder Kain Warwick also attended the event after stocking up on enough TRUMP to break the top 25 investors on the leaderboard.
US senators and former staffers protested outside the event, with Bloomberg reporting at the time that protestors shouted “Shame!” and “I hope you choke on your dinner!” at attendees.
Magazine: All 21 million Bitcoin is at risk from quantum computers
The US Treasury has sanctioned six people and two entities for their alleged roles in an IT worker fraud scheme orchestrated by North Korea, which frequently targets the crypto industry.
The Office of Foreign Assets Control (OFAC) said on Thursday that it sanctioned alleged facilitators of the IT worker fraud networks operating in North Korea, Vietnam, Laos and Spain, which generate revenue to fund North Korea’s weapons program.
OFAC sanctioned Amnokgang Technology Development Company, a DPRK firm accused of managing overseas IT workers, and Nguyen Quang Viet, CEO of Quangvietdnbg International Services Company Limited, a Vietnam-based company accused of laundering $2.5 million through cryptocurrency for the network.
Do Phi Khanh, Hoang Van Nguyen, Yun Song Guk, Hoang Minh Quang and York Louis Celestino Herrera were also sanctioned for their alleged roles in the DPRK IT worker networks.
The sanctions mean all US assets connected to those named are frozen and they can’t conduct any financial transactions or engage in business dealings with the US under threat of civil and criminal penalties.
Fraudulent tech workers with ties to North Korea have been highly active, targeting a range of industries, including blockchain companies. An April 2025 report by Google found that the schemes’ infrastructure has spread worldwide.
Worker fraud rings a growing threat: Chainalysis
OFAC’s sanctions included 21 cryptocurrency addresses across Ethereum and Tron. Chainalysis said on Thursday that the “designation of addresses across multiple blockchain networks reflects [North Korea’s] increasingly multi-chain approach to moving funds.”
Related: Someone counter-hacked a North Korean IT worker: Here’s what they found
Chainalysis added that North Korean IT worker schemes “represent a sophisticated and growing threat,” relying on stolen identities and fabricated personas to obtain employment with legitimate companies globally.
“Beyond generating revenue through fraudulent employment, these workers have also been known to covertly introduce malware into company networks to extract proprietary and sensitive information,” the firm said.
“Cryptocurrency businesses should screen all counterparties against updated OFAC sanctions lists, be alert to patterns consistent with IT worker fraud, and monitor for unusual payment patterns.”
Magazine: All 21 million Bitcoin is at risk from quantum computers
Presidential memecoin TRUMP drew a brief bid higher after the project team announced a high-stakes access event for its most loyal holders. The Official Trump token will grant the largest holders—based on time-weighted holdings from March 12 through April 10—a luncheon with Donald Trump at Mar-a-Lago on April 25. The invitation also reserves a private reception for the top 29 holders. While the marketing message centers on Trump as the keynote speaker, a White House official told Politico that the date isn’t firmly locked and could shift, potentially aligning with Trump’s schedule for the White House Correspondents’ Dinner. The plan marks the second such gathering for TRUMP holders, continuing a pattern of celebrity-driven promotions that keep meme coins in the headlines even as fundamentals remain fragile.
Key takeaways
- The event is limited to the top 297 holders by time-weighted balance between March 12 and April 10, with the top 29 receiving a private reception with Trump.
- A White House official indicated to Politico that the date may not be locked, potentially creating scheduling uncertainty around the dinner and the gala.
- The announcement followed a lift in price, with TRUMP reaching a high of $3.06 after the news, up from an intraday low of $2.73.
- Despite the bounce, the token remains vastly suppressed versus its peak in January 2025, when it traded near $73.43.
- Past events at Trump properties have drawn scrutiny from critics who view celebrity-backed memecoins as leveraging political influence for financial gain.
- The event underscores ongoing dynamics in meme-coins, where access, exclusivity, and public spectacle can drive short-term volatility even as regulatory and investor skepticism persists.
Tickers mentioned: $TRUMP
Sentiment: Neutral
Price impact: Positive. A promotional event for top holders helped lift the token’s price from a prior trough, though the overall levels remain far from earlier highs.
Trading idea (Not Financial Advice): Hold. The event-driven move suggests short-term volatility, but the long-run prospects for a meme-based token tied to a political figure remain highly uncertain.
Market context: Meme coins continue to react to promotional events and celebrity associations, often swaying on short-lived headlines while liquidity and regulatory scrutiny shape broader risk sentiment in crypto markets.
Why it matters
The TRUMP event illustrates how meme-based assets persist in attracting retail attention through staged gatherings, exclusivity, and social-media momentum. For holders, a luncheon with a high-profile political figure offers perceived social capital and a potential price catalyst, even as the fundamental underpinnings of the token remain speculative. The broader crypto ecosystem has grown accustomed to celebrity-linked campaigns, but these moves come with increased regulatory sensitivity and investor risk. Critics argue that leveraging presidential associations for token sales can blur lines between marketing and potential conflicts of interest, prompting ongoing debates about disclosure and accountability in crypto promotions.
From a market mechanics perspective, the event highlights how time-weighted metrics and holder concentration can translate into real-world access rewards, creating incentives for larger wallets to accumulate and maintain positions. Yet, the same dynamics can amplify volatility if the distribution criteria change or if regulatory signals curb promotional activity. As with prior memecoin episodes, the reaction is likely to be transient, with price swings centering on the perceived value of access and the credibility of the event’s organizers.
For investors and builders, the episode reinforces the importance of differentiating between hype-driven moves and substantive product developments. It also underscores the risk that politically connected promotions may face heightened scrutiny, affecting liquidity and moderation from exchanges and wallets. The juxtaposition of a presidential figure with a speculative digital asset continues to shape the narrative around meme-coins, even as mainstream financial and policy considerations evolve around crypto advertising and investor protection.
What to watch next
- Confirmation or rescheduling of the Apr 25 Mar-a-Lago luncheon, as officials’ schedules and public appearances could shift.
- Updates on the time-weighted holdings window (Mar 12–Apr 10) and the final list of eligible holders, including the top 29 for the private reception.
- Any regulatory or legislative developments that address celebrity-driven crypto promotions or disclosures in memecoin campaigns.
- Subsequent price movements in TRUMP following the event announcement and after any public statements from organizers or attendees.
Sources & verification
- Official Trump token event post detailing the top holder eligibility and reception tiers
- Announcement discussions on X (GetTrumpMemes/status/2032178840663929116)
- Conference page for the TRUMP token (gettrumpmemes.com/conference)
- Politico reporting on the White House schedule and event timing
- CoinGecko price data for Official Trump (TRUMP)
TRUMP token gala lifts sentiment among top holders
The Official Trump token (CRYPTO: TRUMP) has moved briefly higher after its developers disclosed a high-profile access opportunity for major holders. The arrangement centers on a luncheon with Donald Trump at Mar-a-Lago on April 25, open to the 297 largest holders by time-weighted holdings recorded between March 12 and April 10. The 29 largest holders are set to attend a private reception, a detail echoed on the project’s official website and promoted across social channels. While the description emphasizes Trump as the keynote, a White House official told Politico that the schedule remains fluid, with potential overlap with the White House Correspondents’ Dinner on the same day.
Access rules are explicit: attendees must pass a background check, and eligibility is determined by holdings within the defined window. The event marks the second such gathering for TRUMP token holders, following a prior gala at a Trump golf club in May, which drew controversy from critics who argued that presidential influence was being leveraged for private gain. Notably, Justin Sun, founder of Tron, attended the first event and was reported to have received a timepiece as a token of attendance, underscoring how celebrity ties can elevate the profile of meme coins despite lackluster fundamentals.
Beyond the headline, price action reflected a brief rally. The TRUMP token rose to a high of $3.06 on Thursday after the gala was announced, rebounding from an intraday low of $2.73. By the end of the session, data from CoinGecko showed the token trading around $2.94, a 2.4% gain over 24 hours. The bounce comes with a caveat: the token has plunged about 96% from its January 2025 all-time high of $73.43, illustrating the steep, meme-driven volatility that characterizes these assets. Historical context includes past attendance by notable figures such as Infinex founder Kain Warwick, who participated after accumulating significant TRUMP holdings, highlighting how insider-flavored events can attract attention from niche crypto communities.
As the narrative unfolds, the episode sits at the intersection of political spectacle and crypto promotion, a space that has attracted scrutiny from lawmakers and market observers. Critics have argued that such events risk conflating political optics with financial incentives, potentially prompting calls for greater transparency in token distributions and marketing practices. Proponents, meanwhile, view these events as a legitimate form of community-building within a volatile ecosystem where audience engagement often drives short-term liquidity and sentiment. The balance between entertainment value and investor protection remains the key tension shaping TRUMP’s trajectory in the coming weeks.
TLDR
- South Korea has allocated 3 billion won to build an AI-powered system to track cryptocurrency gains before 2027.
- The National Tax Service will use machine learning to detect unusual crypto transactions and possible tax evasion.
- South Korea will impose a 22% tax on virtual asset income above 2.5 million won starting January 1, 2027.
- The tracking system will share data with the Korea Customs Service and the Bank of Korea.
- Coinbase has denied claims that it lobbied for a stablecoin-only tax exemption in the United States.
South Korea has committed 3 billion won to build an AI-based crypto tracking system before new taxes begin in 2027. The National Tax Service will deploy the platform to monitor virtual asset gains and enforce a 22% tax rate. At the same time, U.S. lawmakers face pressure as Coinbase denies claims that it seeks stablecoin-only tax exemptions.
South Korea Moves to Enforce Crypto Tax Rules
South Korea’s National Tax Service has launched a public bidding process for an integrated crypto tracking system. The agency listed the project on the Public Procurement Service platform with a value of 3 billion won, or about $2.02 million. The NTS plans to select a contractor within this month and start system design in April.
The agency will use artificial intelligence and machine learning to detect unusual transaction patterns. Officials will share findings with the Korea Customs Service, the Bank of Korea, and the Ministry of Data and Statistics. The NTS aims to begin pilot testing in November and complete the full launch by December 2026.
South Korea will start taxing virtual asset profits on Jan. 1, 2027. Income exceeding 2.5 million won will face a 22% tax rate, which includes 20% national tax and 2% local tax. Authorities said the system will ensure that taxpayers report accurate gains under the new framework.
The NTS stated that the platform will analyze large datasets from exchanges and wallets. The system will flag transactions that suggest concealment or tax evasion. Officials said the program will strengthen oversight before enforcement begins in 2027.
Coinbase Faces Claims Over Stablecoin Tax Exemption Push
U.S. lawmakers continue to debate de minimis exemptions for small crypto payments. Companies such as Block have urged Congress to treat Bitcoin like foreign currency for minor transactions. However, reports claim Coinbase has told lawmakers that “no one is using Bitcoin as money.”
Sources allege that Coinbase supports a tax exemption limited to stablecoins. A stablecoin-only rule would exempt tokens like USDC from capital gains taxes on small purchases. Coinbase holds a financial interest in USDC, which has raised concerns among industry advocates.
Faryar Shirzad, Coinbase’s Chief Policy Officer, rejected the accusations. He said the claims are “a total lie” and stated that Coinbase has never lobbied against Bitcoin. Shirzad added that the company will not support measures that undermine Bitcoin adoption.
Representatives from Block said Congress now leans toward limiting exemptions to stablecoins. Adam Back, CEO of Blockstream, said stablecoins rarely generate taxable gains for retail users. He argued that policymakers should exempt Bitcoin from capital gains if they want it to function as a digital currency.
Crypto World
Bitcoin Price Prediction: Elon Musk’s X Money Could Beat Bitcoin, Claims Famous Analyst
The one asset Wall Street spent a decade trying to kill just got dissed by the guy who wrote the book on unpredictable events.
Nassim Taleb, author of The Black Swan and one of the most vocal Bitcoin critics in intellectual circles, called Elon Musk’s X Money “much, much smarter than Bitcoin” after Musk announced early public access to the payments service is coming next month.
The crypto bros were not happy. The debate lit up X within hours.
X Money is Musk’s play at turning X into an everything app. Beta rolled out earlier this month. It runs on fiat, backed by a real bank, has a Visa-partnered physical debit card personalized with your X handle, and has zero connection to any cryptocurrency.
Taleb’s argument is private currencies compete with each other. X Money, being issued by a private company with real infrastructure and mainstream reach, fits that framing better than a decentralized asset he has called fragile for years.
He previously argued Bitcoin fails as both a currency and a hedge. His position has not changed. It has just found a new target to contrast against.
The pushback was immediate. Critics pointed out Taleb has been consistently wrong on Bitcoin for years and that X Money is structurally no different from PayPal or Zelle.
And they are not entirely wrong. But noise from critics has never been what moves Bitcoin price. What moves it is institutional flow, macro conditions, and sentiment.
With that in mind, let’s look at the BTC chart.
Bitcoin Price Prediction: Can BTC Break This Resistance Zone?
BTC is sitting at $70,471 on the 2h chart, trading inside a rising wedge that has been compressing since early February, with price currently pressing up against the $72,000 first resistance zone.
The wedge is the key structure to watch here because these patterns typically resolve to the downside, and the chart itself acknowledges that risk with a dotted path showing a potential flush toward $64,000 before any real recovery leg develops.
That $64,000 level has already proven itself as a serious demand zone, getting tested and holding twice within the wedge, and below that sits the $60,000 floor, which is the last major support before the structure fully breaks down.
On the bull case, a clean break and hold above $72,000 opens the ladder toward $80,000, then $84,000, and the full $90,000 target marked on the chart.
But until $72,000 flips to support, the breakdown scenario toward $64,000 remains on the table and cannot be ignored.
Bitcoin Hyper Is Turning Bitcoin From a Store of Value Into Something You Can Actually Use
Bitcoin reacts to every macro headline. Spikes, settles, repeats. Same cycle.
But the real issue with Bitcoin has nothing to do with inflation reports. It is slow. It is limited. And for everyday use, it just does not cut it.
That is exactly what Bitcoin Hyper is building around.
The idea is clear.
Take Bitcoin’s security and trust. Add Solana-level speed and efficiency on top. The result is a version of Bitcoin that actually does things. Faster payments, staking, decentralized apps, BTC that moves instead of just sitting in a wallet.
Not just a store of value. An ecosystem.
That opens the door for real activity on top of Bitcoin. Faster payments, staking opportunities, decentralized apps, and an ecosystem where BTC can actually move instead of sitting idle.
Investors are clearly paying attention to that vision. The Bitcoin Hyper presale has already raised more than $32 million, with $HYPER currently priced at $0.0136751 before the next scheduled price increase.
There is also a strong incentive for early participants. Buyers can stake their tokens and earn rewards of up to 37%, the kind of yield that often attracts early momentum when new projects start gaining traction across the market.
Visit the Official Bitcoin Hyper Website Here
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Ethereum’s price has risen for four consecutive days and is now hovering around the crucial support level of $2,000, as BlackRock launches its first staking ETF today, March 12.
Summary
- BlackRock will launch ETHB today, its first staking Ethereum ETF.
- ETHB will have an expense ratio of 0.25%, making it a better option than ETHA.
- Ethereum has formed a bearish flag pattern, pointing to a retreat.
Ethereum (ETH), the second-biggest cryptocurrency, trades at $2,056, inside a range it has remained in in the past 30 days. This price is nearly 60% below its all-time high.
A major catalyst for ETH price is that BlackRock, the world’s biggest asset manager, will launch its staking ETF today. This is a big milestone that will address a key challenge that has existed in the existing funds.
Existing Ethereum ETFs, which have over $11.85 billion in assets, don’t offer staking rewards, making them less ideal to most investors. In BlackRock’s case, holders of the ETHA ETF pay an annual fee of 0.25% and forego a monthly return. Data shows that Ethereum has a staking return of about 3%.
The new ETF will have a ticker of ETHB and an annual fee of 0.25%. It will initially have a fee waiver of 0.12% for the first year or when it hits $2.5 billion in assets.
Therefore, a likely scenario is where there is a rotation from ETHA and other Ethereum ETFs to ETHB. It may also lead to more inflows from investors who have not invested in these funds yet.
Ethereum price prediction
The daily timeframe chart shows that the ETH price crashed from the all-time high of $4,950 to the current $2,065. It has constantly remained below the 50-day and 200-day moving averages since November last year when it formed a death cross pattern.
Ethereum price has formed a horizontal channel whose support and resistance levels are at $1,843 and $2,193. It has remained inside this channel since February 6 this year.
This channel formed after the coin declined sharply, meaning that this is part of a bearish flag pattern. In most cases, this pattern often leads to a strong bearish breakout.
Therefore, the coin will likely have a strong bearish breakout in the near term. If this happens, the initial target will be the lower side of the channel at $1,843. A drop below that price will lead to further downside, potentially to $1,500.
JPMorgan faces a U.S. class action for allegedly enabling Goliath Ventures’ $328M crypto Ponzi via Chase accounts and exchange transfers.
Summary
- Investors claim Goliath raised $328M from 2,000+ victims through JPMorgan business accounts, routing $123M to Coinbase while paying out only $50M in “profits.”
- The suit alleges JPMorgan ignored AML red flags on high‑velocity, circular transfers, effectively extending the scheme’s life and investor losses.
- The case could set precedent on when banks become liable as “enablers” of crypto fraud, tightening KYC/AML expectations on fiat rails into exchanges.
JPMorgan is facing a new class-action lawsuit in the U.S. over its alleged role in banking a $328 million crypto Ponzi scheme that funneled investor funds through Chase accounts and onto major exchanges, according to recent court filings and monitoring data.
JPMorgan sued over alleged $328M crypto Ponzi exposure
A group of investors has filed a class-action complaint in federal court in Northern California, accusing JPMorgan Chase of knowingly or negligently providing banking services to a large-scale crypto Ponzi scheme operated by Goliath Ventures. The lawsuit alleges that roughly $253 million in investor funds were first deposited into Chase accounts controlled by the scheme’s operators, before approximately $123 million was routed to Coinbase and other exchanges, while only about $50 million was returned to investors as purported “profits.”
According to the complaint, plaintiffs claim JPMorgan failed to act on multiple anti–money laundering red flags, including rapid, large-value transfers inconsistent with declared business activities and repeated inflows from retail investors. They argue that the bank’s alleged failure to file or escalate suspicious activity reports allowed the scheme to continue far longer than it otherwise would have, dramatically increasing total losses. The case seeks damages for investors and aims to hold one of the world’s largest banks liable for what plaintiffs frame as willful blindness to obvious fraud patterns.
Potential precedent for banking rails in crypto fraud
If the case proceeds, it could become a test of how far U.S. courts are willing to extend liability to traditional financial institutions that provide fiat on- and off-ramps to crypto-related investments. Plaintiffs are effectively arguing that banks cannot treat crypto fraud as an external problem while continuing to profit from deposit flows and payment processing tied to suspicious schemes.
For the broader digital asset sector, the lawsuit underscores a growing regulatory and legal focus on “enablers” of fraud, not just token issuers or platform operators. Exchanges and custodians already sit under heavy scrutiny; extending that lens to global banks that process billions in flows for crypto investment products could reshape compliance expectations around KYC/AML, transaction monitoring, and de-banking of high-risk promoters. The outcome is likely to be closely watched by both Wall Street and major crypto venues, given the central role of banking rails in market structure and liquidity.
XRP price has gone nowhere in the last 30 days as third-party data reveals that demand from Wall Street investors has stalled.
Summary
- XRP price has remained in a narrow range in the last 30 days.
- Demand from Wall Street investors has waned in this period.
- The coin could be in the accumulation phase of the Wyckoff Theory.
Ripple (XRP) token was trading at $1.3825 today, March 12, inside a range it has remained at in the past few weeks. This price is 63% below its highest point last year.
Data compiled by SoSoValue shows that spot XRP ETFs have shed over $26 million in assets this month. This is the first month that these funds have experienced outflows since they were launched in November.
The numbers show that the funds did not experience any inflow on Wednesday. Before that, they experienced outflows in the previous four consecutive days. They now hold $985 million in assets under management.
A recent report showed that some of the biggest companies in Wall Street holds XRP ETFs. Goldman Sachs holds XRP ETFs worth $154 million, and is followed by top companies like Millennium Management, Logan Stone Capital, Citadel, and Jain Global.
More data shows that demand for XRP has dropped in the past few weeks. For example, according to CoinGecko, the daily volume stood at $2.3 billion today, down from over $4 billion the same day last week.
XRP’s futures open interest has dropped in the past few months, moving from last year’s high of over $10 billion to $2.4 billion today. The same has happened in the CME, where futures contracts are seeing weak demand.
XRP price technical analysis
The four-hour chart shows that the Ripple token has remained in a narrow range in the past few months. It has remained inside the key support and resistance levels at $1.3160 and $1.4627.
The volatility has dropped, with the Average True Range has remained in a downward trend. It is also oscillating at the 50-period and 100-period moving averages.
On the positive side, this is a sign that coin is in the accumulation phase of the Wyckoff Theory. This phase is usually characterized by sideways movements.
Therefore, while its too early to predict, there is a possibility that the coin will have a strong bullish breakout. Its initial target will be at $1.4627, the upper side of the channel. A move above that price will point to more gains, potentially to the psychological level at $1.6658, its highest point in February this year.
Key Takeaways
- NIO has successfully broken above both its 50-day and 200-day simple moving averages, with both trend lines now pointing upward
- Technical indicators show bullish RSI divergence alongside significant volume increases during rallies, suggesting diminishing bearish pressure
- Chart analysis reveals a double bottom formation with a breakout level at $5.79, projecting a move toward $8 by late 2026
- Call option volume reached 58,591 contracts with an exceptionally low put/call ratio of 0.30, indicating bullish sentiment
- Fellow Chinese EV competitor XPeng (XPEV) climbed 14% this week, reinforcing sector-wide momentum
Holding NIO shares has tested investors’ patience considerably. Following its peak above $60 in the first quarter of 2021, the Chinese electric vehicle maker endured a prolonged decline that ultimately bottomed in single-digit territory. However, recent price action suggests a potential turning point.
Shares were changing hands near $5.60 on Thursday, marking an approximate 19% weekly advance — positioning this week as the strongest performance since late August 2025, assuming momentum holds through Friday’s trading session.
The technical configuration is capturing market attention. NIO has successfully recaptured both its 50-day and 200-day simple moving averages during this week’s rally, with both indicators now trending upward. This represents a significant departure from the stock’s positioning just a few months earlier.
Technical analysts have identified a bullish RSI divergence, characterized by ascending RSI lows despite the stock printing lower price lows. This divergence typically indicates weakening downside momentum. Trading volume corroborates this interpretation — pronounced volume surges accompanying upward price movement represent a textbook indication of institutional accumulation.
The stock has also successfully retested a bull flag breakout pattern that originated in August. A double bottom formation has emerged with a pivot point established at $5.79. The catalyst for this pattern was a bearish island reversal that concluded with a 7.3% downward gap on December 31. NIO subsequently printed a bullish hammer candlestick on March 3, followed immediately by a bullish island reversal to the upside in the next trading session.
Analysts are projecting an upside objective of $8 by the latter half of 2026 — representing a 42% appreciation from current price levels. The bullish scenario remains viable above support at $4.75.
Extended Time Frame Analysis
Examining the five-year weekly chart provides greater clarity regarding the bottoming process. Since early 2024, NIO has been trading within what appears to be a base-building consolidation pattern. Beginning in October, the right shoulder of a bullish inverse head-and-shoulders formation has been developing.
Should the stock clear the $8 resistance threshold later in 2026, the extended-term projection based on this pattern suggests a potential move toward $13 by early 2027.
Accumulation patterns have been evident since the previous summer, with buyers consistently defending lower price levels.
Options Activity Reflects Bullish Positioning
The derivatives market is reflecting the underlying momentum. Thursday saw 58,591 call contracts trade hands in NIO. Short-dated contracts expiring March 13 and March 26 comprised approximately 19,900 of that total. The put/call ratio currently stands at just 0.30 — an unusually low figure indicating traders are purchasing call options at more than three times the rate of protective puts.
Implied volatility has also expanded, reflecting heightened speculative interest in the name.
NIO’s upcoming quarterly earnings announcement is scheduled for June 2, which may be contributing to the increased options positioning.
On a year-to-date basis, NIO has advanced 7.25%. The company’s current market capitalization is $12.48 billion.
XPeng is experiencing similar strength this week, climbing 14% as of Thursday afternoon and positioned to break a three-week losing streak.
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