FTX will dismiss about $2.5 billion in claims related to identity verification errors
FTX said that about $2.5 billion in customer claims were canceled because nearly 400,000 users failed to complete identity verification (KYC) by March 3. According to the documents of the Delaware Bankruptcy Court on April 2, 392,000 claims have been completely dismissed and deleted, involving up to 2,377 pages.
π± @Money π± Twitter
FTX said that about $2.5 billion in customer claims were canceled because nearly 400,000 users failed to complete identity verification (KYC) by March 3. According to the documents of the Delaware Bankruptcy Court on April 2, 392,000 claims have been completely dismissed and deleted, involving up to 2,377 pages.
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π April 5, 2025 cryptocurrency news highlights
γCryptocurrencyγ
The USDC Treasury has burned 50 million USDC on the Ethereum blockchain, with a total of approximately 150 million USDC burned today.π£
γEconomyγ
Morgan Stanley predicts that Apple's supply chain will be hit hard by tariffs, and mobile phone prices may soarπ
γIndicatorsγ
Bitunix analyst: Powell releases a hawkish signal, market liquidity is expected to decrease, BTC may test $80,000 againπΈ
γMoreγ
π° Tether CEO Calls for New U.S. Stablecoin Amid Legal Woes
π± @Money π± Twitter
γCryptocurrencyγ
The USDC Treasury has burned 50 million USDC on the Ethereum blockchain, with a total of approximately 150 million USDC burned today.
γEconomyγ
Morgan Stanley predicts that Apple's supply chain will be hit hard by tariffs, and mobile phone prices may soar
γIndicatorsγ
Bitunix analyst: Powell releases a hawkish signal, market liquidity is expected to decrease, BTC may test $80,000 again
γMoreγ
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Georgia House Resolution asking the Dept. of Education to implement K-12 education on "blockchain, cryptocurrency, and Web3". The Democrat-sponsored bill says "Bitcoin is becoming increasingly accepted and commonly used in lieu of traditional currency."
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JPMorgan has increased the probability of a U.S. recession to 60% by 2025 due to President Trump's new tariffs, which are seen as a significant economic shock. The tariffs could raise taxes on U.S. consumers and businesses, leading to declines in stock markets and greater economic uncertainty.
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π April 6, 2025 cryptocurrency news highlights
γCryptocurrencyγ
β€΄οΈ JPMorgan Raises Recession Risk to 60% Amid Trade Tensions
γEconomyγ
The US stock market lost $1.1 trillion in value over 44 trading days, roughly equivalent to 38% of the US GDP.
γIndicatorsγ
Bitcoin Volatility Decreases for 7 Consecutive Days, Now Back at 2.52%
γMoreγ
Musk's net worth has decreased by $130 billion this year, making him the biggest loser among the top 10 richest people in the world, with Buffett being the only gainer.π²
π± @Money π± Twitter
γCryptocurrencyγ
β€΄οΈ JPMorgan Raises Recession Risk to 60% Amid Trade Tensions
γEconomyγ
The US stock market lost $1.1 trillion in value over 44 trading days, roughly equivalent to 38% of the US GDP.
γIndicatorsγ
Bitcoin Volatility Decreases for 7 Consecutive Days, Now Back at 2.52%
γMoreγ
Musk's net worth has decreased by $130 billion this year, making him the biggest loser among the top 10 richest people in the world, with Buffett being the only gainer.π²
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Trump on Market Crash: "Sometimes You Have to Take the Medicine" π
President Trump responded to the recent financial market crash by saying the downturn is a necessary correction, likening it to taking medicine to fix underlying issues. He denied any intention to cause the sell-off and reaffirmed his focus on addressing the U.S. trade deficit with China before making any trade deals. Trump also noted recent talks with European and Asian leaders about tariffs.
π± @Money π± Twitter
President Trump responded to the recent financial market crash by saying the downturn is a necessary correction, likening it to taking medicine to fix underlying issues. He denied any intention to cause the sell-off and reaffirmed his focus on addressing the U.S. trade deficit with China before making any trade deals. Trump also noted recent talks with European and Asian leaders about tariffs.
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Cryptocurrency Total Market Cap Has Evaporated Over $1.1 Trillion Since Trump Took Office
According to CoinGecko data, the total cryptocurrency market cap is currently at $2.51 trillion, with a 24-hour decrease of 10.7%.
On the day of the official inauguration of Trump's second term (January 20th), the total cryptocurrency market cap was $3.621 trillion. So far, the cryptocurrency market cap has evaporated by $1.111 trillion.
π± @Money π± Twitter
According to CoinGecko data, the total cryptocurrency market cap is currently at $2.51 trillion, with a 24-hour decrease of 10.7%.
On the day of the official inauguration of Trump's second term (January 20th), the total cryptocurrency market cap was $3.621 trillion. So far, the cryptocurrency market cap has evaporated by $1.111 trillion.
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