WazirX, the embattled Indian crypto exchange, has encountered a major legal hurdle as the Singapore High Court declined to approve its proposed restructuring plan. This decision has again delayed repayments to creditors and could push the company closer to potential liquidation. Restructuring Plan Denied, Payout Timeline Uncertain Initially approved in January, WazirX’s restructuring plan promised to begin creditor payouts as early as April 2025. However, with the court’s recent rejection, that timeline has shifted into indefinite territory. “The Honourable Singapore High Court issued an order declining to approve our proposed restructuring plan,” WazirX wrote in a communication to creditors. The…
Author: Blockto Team
Litecoin (LTC) is holding firm above a critical support level at $89, as both technical signals and emerging network developments influence its short-term trajectory. Technical Support at $89 Remains Intact Despite the formation of a bearish head-and-shoulders pattern, Litecoin is maintaining stability around $88.58–$89.00. The price briefly dipped to $88.92 over the past 24 hours but quickly rebounded, suggesting that buyer interest is clustered near this key support level. Volume support around $89 is helping counteract broader bearish patterns, indicating short-term resilience. However, the market remains cautious as the CD20 index of major cryptocurrencies declined by 1%, reflecting weakening risk…
A 24-year-old French-Moroccan man suspected of orchestrating a series of high-profile crypto kidnappings in France has been arrested in Tangier, Morocco, following a coordinated international operation. Arrest of the Suspect in Tangier According to a statement released by Moroccan authorities, the suspect was taken into custody in Tangier by a joint task force from Morocco’s National Judicial Police Brigade (BNPJ) and the General Directorate of Territorial Surveillance (DGST). The operation was carried out at the request of French authorities, as part of a broader crackdown on violent crypto-related crimes. The arrested individual has been identified as Badiss Mohamed Amide Bajjou,…
Avalanche (AVAX) continues its downward trend as it breaks through a critical short-term support level, heightening concerns among traders and analysts about deeper losses in the near future. AVAX Price Action and Market Context AVAX declined by 3.67% over the past 24 hours, falling from $21.56 to $20.89, and is currently trading near $20.04. The drop came amid increased trading volume, coinciding with Bitcoin’s 1.1% pullback, which exerted additional pressure across altcoin markets. The decisive breakdown occurred at the $21.05 support level, a price zone previously holding firm against intraday volatility. Once breached, AVAX moved quickly toward lower support levels,…
South Korea has elected Lee Jae-myung as its new president in a historic win for the Democratic Party of Korea, signaling a major shift in the nation’s stance toward the cryptocurrency industry. Lee Jae-myung Wins With Crypto-Focused Agenda Lee defeated Conservative Party candidate Kim Moon-soo by nearly three million votes, securing 49.4% of the 17 million total votes, according to data from South Korea’s National Election Commission. His victory followed a campaign that targeted the country’s growing population of 15 million crypto investors, with bold promises to support and expand the digital asset sector. Key Crypto Promises: ETFs and Institutional…
In a significant development for the financial industry, JPMorgan Chase is preparing to accept spot Bitcoin ETFs as collateral for loans, signaling a major expansion in traditional banks’ approach to crypto. Bitcoin ETFs Approved as Collateral JPMorgan will begin allowing clients to use shares of BlackRock’s iShares Bitcoin Trust (IBIT) as collateral when applying for loans. This move will apply to wealth management and trading clients, according to sources familiar with the matter. The service is expected to roll out in the coming weeks. The bank will also begin factoring certain crypto holdings into assessments of net worth and liquid…
As the U.S. Congress pushes to establish a framework for digital asset regulation, concerns over potential conflicts of interest involving President Donald Trump are casting a shadow over the legislative process. Debate Intensifies Over the CLARITY Act During a June 4 hearing of the House Financial Services Committee (HFSC), lawmakers debated the Digital Asset Market Structure Clarity (CLARITY) Act, a proposed bipartisan bill introduced on May 29. While intended to provide regulatory certainty for crypto markets, Democrats raised red flags regarding the president’s ties to the industry. “This rushed, overly complicated bill will increase investor harm,” said ranking member Maxine…
BNB, the native token of Binance, is maintaining support around $668, buoyed by robust DeFi growth and positive developments in the Binance ecosystem, despite ongoing regulatory pressure and market volatility. BNB Chain Activity Surges in May BNB has climbed over 11% in the past month, with bullish momentum fueled by two primary factors: May saw DEX trading volumes on BNB Chain reach $187 billion, giving it a 36% market share and even surpassing Ethereum in total value transferred, according to data from Dune Analytics. The network also processed 198 million transactions, up 148% from April. PancakeSwap Outpaces Major Rivals PancakeSwap,…
Cardano’s native token ADA has displayed notable resilience in the past 24 hours, forming a V-shaped recovery pattern as strong buying pressure emerged at key support levels, signaling bullish intent amid broader crypto market uncertainty. ADA Rebounds from Key Support Levels Following a sharp intraday drop to $0.676, ADA bounced back to reclaim the $0.697 level, completing a technical V-shaped recovery. This rebound reflects a 3.99% trading range, highlighting Cardano’s ability to absorb sell pressure and attract buyers at critical zones. According to market data, peak hourly volume reached 45.7 million ADA, establishing a crucial support base at $0.684. This…
A recent report reveals that the Decentralized Physical Infrastructure Network (DePIN) sector, currently valued at an estimated $30–50 billion, could skyrocket to $3.5 trillion by 2028. This projection is grounded in the accelerating convergence of blockchain technology and artificial intelligence (AI), signaling a transformative era for digital infrastructure. What is DePIN? DePIN refers to a system where community-owned physical infrastructure—such as sensors, routers, or data storage—is connected through blockchain networks. Participants contribute real-world resources and receive cryptocurrency rewards in return. This model shifts control from centralized tech companies to the network’s users, fostering greater transparency, efficiency, and scalability. Over 1,500…