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  • Leveraged Cup: Trade Your Way to the World Football Final

    Leveraged Cup: Trade Your Way to the World Football Final

    Leveraged Launches Trading Competition with Trip to World Football Final as Grand Prize

    Limassol, Cyprus – June 16, 2026 – Leveraged, a proprietary trading firm aiming to democratize access to trading, today announced the launch of its 2026 Leveraged Cup, a global trading competition scheduled to run from June 17 to June 30. The ultimate winner will be awarded an all-expenses-paid Champions Package, valued at $20,000, to attend the World Football Final in New York this July.

    The Leveraged Cup is open to traders worldwide and will utilize Leveraged’s specialized Sprint accounts, designed for participants who can effectively capitalize on rapid market fluctuations. The competition challenges users to achieve the highest percentage return on their investments over the two-week period. The top four traders will advance to a live-streamed “Final Four Sprint 2 Cash” showdown, with the overall champion receiving the Grand Prize Champion’s Package, which includes two tickets to the world football final, flights, and accommodation. Additionally, daily winners will receive $200 prizes, enabling them to host friends for what is described as a “match of a lifetime” and become a “Legendary host.”

    Eligibility for the competition requires traders to purchase a Sprint account with a trading range between $10,000 and $100,000. Throughout the 15-day event, participants will vie for leaderboard positions based solely on the percentage payout achieved within their Sprint accounts. Traders are permitted to purchase multiple Sprint accounts, with their highest payout percentage determining their score. This focus on percentage growth, rather than nominal profit, underscores Leveraged’s commitment to recognizing trading talent irrespective of capital size.

    Competition Format and Prizes

    The four highest-ranked traders on the overall leaderboard will progress to the “Sprint 2 Cash” head-to-head finale, a 90-minute trading event. To ensure a level playing field, all finalists will trade with identical account sizes during this live competition. The trader who generates the highest percentage return during the session will be crowned the 2026 Leveraged Cup Champion.

    Tal Fromchenko, Founder of Leveraged, drew parallels between trading and sports, stating, “Trading and sport have more in common than meets the eye. The best traders, like the best athletes, succeed because of their ambition, discipline, decision-making, and execution under pressure. The Leveraged Cup celebrates those qualities and gives traders around the world the opportunity to showcase their skills on a global stage and get rewarded for that.”

    Participants can also earn a free Sprint account for every two users they refer who open their own Sprint accounts, providing an additional avenue to compete. To qualify for daily cash prizes and eligibility for the Final Four, participants must follow @GetLeveraged on X or Instagram, share a screenshot of their Sprint account dashboard or leaderboard position using the hashtag #LeveragedCUP, and tag @getleveraged.

    Leveraged, a global proprietary trading firm founded on the principle that “Everyone’s a Trader,” currently serves traders in over 150 countries. The company offers access to funded trading accounts, AI-powered trading tools, and comprehensive educational resources. To date, Leveraged has funded more than 50,000 portfolio managers and processed over $100 billion in trading volume.

    For complete competition rules and registration details, interested individuals can visit www.getleveraged.com/leveragedcup.

  • Shiba Inu Metric Hits 5-Year Low: Rally Imminent?

    Shiba Inu Metric Hits 5-Year Low: Rally Imminent?

    Meme Coin Mania Fades, But a Key Metric Hints at Shiba Inu’s Potential Comeback

    The cryptocurrency sector’s once-booming meme coin segment, a highlight of the previous bull market, is now experiencing a significant downturn in both strength and investor interest.

    Shiba Inu (SHIB), a prominent token in this category, has seen its value plummet by approximately 65% over the last year. However, a crucial indicator suggests that a recovery might be on the horizon.

    Currently trading around $0.000005031, Shiba Inu’s market capitalization has fallen below $3 billion. This positions SHIB as the 35th-largest cryptocurrency overall and the third-largest within the meme coin niche, trailing behind Dogecoin (DOGE) and MemeCore (M).

    The current state of Shiba Inu appears less than ideal. While the development team has been relatively quiet in expanding the ecosystem, the ongoing sell-off may be approaching its conclusion.

    Data from CryptoQuant reveals that the quantity of SHIB tokens held on cryptocurrency exchanges has reached a five-year low, standing at approximately 79.8 trillion. This trend indicates a shift among investors towards self-custody solutions, moving away from centralized platforms, which in turn reduces immediate selling pressure.

    Some market analysts are optimistic about a potential price resurgence. X user Nehal, for instance, believes SHIB is “dangerously ignored” at its current price levels and suggests a 40-50% jump would not be unexpected.

    The dwindling supply of SHIB on exchanges represents one of the few positive signals for the meme coin, even as other factors point to the possibility of further price declines in the near future.

    For example, the token’s burn rate has decreased by 62% in the past 24 hours, resulting in a minimal number of tokens being removed from circulation. The primary objective of the burn program is to enhance SHIB’s value through scarcity. While the team and community have collectively burned trillions of coins over the years, approximately 590 trillion SHIB remain in circulation, a substantial figure.

    Another challenge facing Shiba Inu is the slowdown of Shibarium, its layer-2 scaling solution. Launched in the summer of 2023 to improve transaction speed, scalability, and reduce fees, Shibarium initially processed millions of transactions. However, an exploit last year disrupted its operations, and since then, transaction volumes have significantly decreased to mere hundreds and thousands.

  • IMF: Nigeria’s Stablecoin Boom Amplifies Risks

    IMF: Nigeria’s Stablecoin Boom Amplifies Risks

    Stablecoin Surge in Nigeria Highlights Benefits and Risks, IMF Warns

    The rapid adoption of stablecoins in Nigeria has underscored the advantages of dollar-pegged cryptocurrency assets while simultaneously magnifying their inherent risks, according to a new report from the International Monetary Fund (IMF).

    IMF researchers observed that stablecoins have emerged as a “meaningful cross-border payments channel.” Between July 2023 and June 2024, Nigeria saw approximately $59 billion in crypto-asset inflows. Furthermore, since 2019, the country has accounted for 60% of all stablecoin inflows within the sub-Saharan African region.

    While acknowledging the “clear benefits” of stablecoin adoption, including enhanced financial inclusion and more cost-effective cross-border payments that challenge traditional remittance services, the IMF raised concerns regarding monetary sovereignty and financial integrity.

    The report suggests that dollar-pegged stablecoins could effectively function as a “digital form of dollarization,” potentially undermining the efficacy of domestic monetary policy. Additionally, existing financial monitoring systems struggle to adequately track stablecoin transactions, with their inherent anonymity increasing the risk of “illicit finance.”

    “Attempts to suppress stablecoin use are likely to be only partly effective,” the report stated, advocating for a “pragmatic” approach that fosters innovation while concurrently “managing risks.”

    The authors proposed measures to protect monetary stability and counter “digital dollarization,” commending recent macroeconomic reforms and a more stringent monetary policy. Other risk management strategies recommended include bolstering regulatory oversight, improving data collection by “combining blockchain analytics with reporting on naira-stablecoin conversions,” and upgrading existing payment infrastructure to “reduce reliance on unregulated channels” such as stablecoins.

    The IMF has consistently voiced criticisms of stablecoins in recent years, warning of their potential to “stifle central bank control” and “amplify financial crises.” Just last week, the international financial body called for “close monitoring” of cryptocurrency adoption in Nepal, citing risks such as the “circumvention of capital controls or large-scale deposit outflows.”

  • Gemini AI Forecasts Grim Bitcoin Outlook for 2026

    Gemini AI Forecasts Grim Bitcoin Outlook for 2026

    Google Gemini AI Offers Measured Bitcoin Outlook for 2026

    Google’s Gemini AI has presented a forecast for Bitcoin’s price that, while not reaching the speculative highs some anticipate, offers a grounded perspective on the cryptocurrency’s potential trajectory. The AI’s bull case for Bitcoin by late 2026 projects a price range of $92,000 to $98,000, a ceiling that stops just short of six figures.

    This prediction stands in contrast to Bitcoin’s previous peak of $126,000 within the current cycle. For investors who have become accustomed to more aggressive price targets, the prospect of Bitcoin essentially returning to levels seen six months prior may not be the headline-grabbing news they hoped for.

    However, this measured approach is precisely what lends credibility to Gemini’s prediction. The AI appears to be modeling a more mature Bitcoin market, one influenced by the integration of traditional finance and characterized by a more stable structure that prioritizes institutional flows over extreme speculative surges.

    The anticipated post-halving supply reduction and ongoing corporate dollar-cost averaging into spot ETFs are recognized as significant upward price drivers. Yet, Gemini identifies persistent macroeconomic headwinds as a limiting factor, preventing Bitcoin from surpassing the $100,000 mark within this timeframe. This outlook represents a sophisticated market assessment rather than a speculative “moonshot,” which may prove unsettling for those who have invested based on a $100,000 price narrative.

    Bearish Scenario and Current Market Dynamics

    The AI’s bear case forecasts a price range of $48,000 to $54,000. This scenario is predicated on a potential slowdown in institutional inflows, stricter global regulations on stablecoins, and broader liquidity contractions if the Federal Reserve maintains higher interest rates for an extended period. Such a decline, while not unprecedented in Bitcoin’s history, would represent a significant frustration for those anticipating new all-time highs.

    Currently, Bitcoin is trading around $66,518, positioned at a critical historical juncture. The broader chart reveals a narrative of a 2024 breakout, a run to $126,000, a subsequent correction, a stalled recovery in March around $82,000, and a recent dip to $60,000 before the current rebound.

    The cryptocurrency has now re-entered the $65,000 to $68,000 zone, a level that previously served as a key breakout point in 2024. The immediate technical question revolves around whether this zone will hold as support or act as a liquidity trap.

    The $70,000 to $72,000 level presents the next significant hurdle, marking the point of a May breakdown and a concentration of trapped supply. A decisive move above this range on substantial volume could significantly alter the market sentiment, potentially opening pathways toward $80,000 and ultimately the $92,000 to $98,000 target range identified by Gemini. Conversely, a daily close below $62,000 could re-establish a downward trajectory toward $54,000, the upper limit of the bear case.

    Technical Indicators and Future Outlook

    The Relative Strength Index (RSI) offers a nuanced perspective. Currently at 44.75, with its signal line at 28.73, the significant gap between them suggests a divergence. This indicates that while momentum experienced a sharp decline to oversold levels during the recent price flush, it has since recovered towards neutral territory, while price action is still consolidating. An RSI leading price in recovery is often viewed as a more robust signal, potentially preceding sustained upward movements rather than temporary bull traps.

    While this does not guarantee Gemini’s bull case will materialize, it does suggest that the $60,000 low is more likely to represent a floor than a stepping stone to lower prices. The initial provocative headline urged caution, but the technical indicators suggest that the market’s lowest point may already be in the rearview mirror.

    Strategic Shifts in the Crypto Landscape

    A discernible rotation is underway within the cryptocurrency market, though its significance may only become apparent in hindsight. Large-cap cryptocurrencies like Bitcoin, Ethereum, and XRP are encountering resistance, with their upside potential increasingly dependent on external catalysts that remain uncertain.

    The delay in anticipated macroeconomic tailwinds and the postponement of institutional inflows suggest that holding these established assets may become a passive waiting game. Investors who have navigated multiple market cycles often prioritize proactive capital deployment over waiting for clear signals.

    Early-stage infrastructure projects, operating with significantly smaller market capitalizations, offer a different dynamic. Modest capital rotations can lead to substantial price movements, driven by the asymmetry between current valuations and the future potential of nascent technologies.

    The fragmentation of liquidity across different blockchain ecosystems, such as Bitcoin, Ethereum, and Solana, incurs significant costs for decentralized finance (DeFi) users through fees, slippage, and failed transactions. Projects aiming to unify these disparate liquidity pools, like LiquidChain, which proposes a single execution layer for multiple networks, address this fundamental inefficiency.

    The market has yet to fully price in the potential of such solutions. LiquidChain’s presale, currently at $0.01454 with over $840,000 raised, represents an early-stage opportunity. While the risks associated with unproven execution and uncertain adoption are present, this offers a chance to invest at the foundational level of a project with the potential to reshape cross-chain interactions. This contrasts with established assets, which, while offering a more predictable path, may have already reached their visible ceilings.

  • XRP Breakout Hinges on Key Level: Analyst

    XRP Breakout Hinges on Key Level: Analyst

    XRP Surges Amid Market Rally, But Analyst Cautions on True Breakout

    The cryptocurrency market experienced a broad upturn, largely attributed to news of a permanent deal between the United States and Iran. Within this positive environment, Ripple’s XRP token emerged as a standout performer among larger-cap cryptocurrencies, climbing from $1.05 at the beginning of the month to nearly $1.30 yesterday.

    However, the token’s upward momentum has since stalled, with its current price hovering just below $1.25. EGRAG CRYPTO, a prominent analyst closely monitoring XRP’s price action, suggests that a definitive breakout confirmation remains some distance away.

    In a recent post on X, the analyst highlighted that the recent wick from multi-year lows was not a random occurrence. Nevertheless, they observed that sellers quickly reappeared at the critical $1.30 resistance level, while buyers emerged to support the price just above $1.00. Currently, XRP is trading within this range, and its future price trajectory hinges on several key levels.

    According to EGRAG CRYPTO, these crucial levels are:

    • $1.11: Survival Zone
    • $1.21: First Strength
    • $1.28: Structure Improves
    • $1.35–$1.38: Bulls Gaining Control
    • $1.51: Major Breakout Zone

    The analysis indicates that XRP has successfully surpassed the “First Strength” area, trading above $1.21. However, achieving a confirmed breakout necessitates reclaiming several other significant resistance zones. The ultimate challenge, termed the ‘final boss’ by the analyst, lies at $1.51. XRP has tested this level multiple times between February and mid-May, only to be met with rejection and subsequent price declines.

    Earlier reports from CryptoPotato noted an improvement in the overall market sentiment surrounding XRP in recent days, following a dip to multi-month lows. Analysts at Santiment Intelligence have frequently pointed out that such significant declines in market sentiment often precede market reversals, a pattern that appears to be repeating.

    A contributing factor to XRP’s recent resurgence is the inflow into spot Ripple ETFs. In contrast to many other cryptocurrency-focused exchange-traded funds, those tracking XRP have seen another positive week, with Monday also marking a minor gain.

    Furthermore, the company behind XRP continues to generate news. Yesterday, Gate.io announced the listing of Ripple’s stablecoin and introduced a trading pair against XRP, marking the latest adoption development.

  • South Korea Busts Crypto Laundering Ring Linked to $11M Cambodian Scam

    South Korea Busts Crypto Laundering Ring Linked to $11M Cambodian Scam

    South Korean Police Target Crypto Laundering for Cambodia-Based Phishing Ring

    South Korean authorities have apprehended dozens of individuals accused of laundering funds for a Cambodia-based phishing operation through cryptocurrency transactions. The crackdown comes as an expert from Chainalysis warns that the ecosystem of scam compounds in Southeast Asia continues to pose a “persistent concern” despite years of efforts to dismantle criminal networks.

    The Seoul Metropolitan Police Agency’s crime investigation division reported that 23 suspects have been referred for charges including violations of the Foreign Exchange Transactions Act and the Specific Financial Information Act. Two individuals, identified only as A and B, have been detained, according to local media.

    In addition to these arrests, 33 other suspects were apprehended for allegedly engaging in the illegal exchange of $4.1 million (6.3 billion won) in cryptocurrency. The alleged ringleader, known only as C, remains at large and is now the subject of an Interpol Red Notice.

    Investigators also secured approximately $431,000 (650 million won) in illicit proceeds through pre-indictment confiscation.

    Police stated that the group, acting under C’s directives, moved around $11.1 million (16.8 billion won) between February 2024 and April 2025. Their method involved purchasing the USDT stablecoin, transferring it between domestic and overseas exchanges, and then cashing out into foreign currency or South Korean won for a fee.

    A review of over 11,300 linked accounts revealed 265 instances of phishing-related harm, encompassing voice phishing and investment fraud, with a total value of $17 million (25.7 billion won).

    Authorities urged the public to exercise caution, emphasizing that “acting as an agent for another person’s virtual asset trading or exchanging virtual assets for Korean Won can also be subject to punishment.”

    Persistent Threat in Southeast Asia

    Xue Yin Peh, head of investigative strategy and collections for APAC at Chainalysis, told Decrypt that increased international scrutiny has yielded concrete results against the “persistent problem” of scam compounds and their associated illicit networks. She highlighted significant actions from the past year, including the recovery of 61,000 Bitcoin by UK authorities and a $15 billion forfeiture linked to the Prince Group, noting these cases signify “a meaningful shift toward dismantling the global financial infrastructure that supports crypto fraud.”

    However, Peh observed that transnational criminal networks have “demonstrated significant flexibility and resilience,” relocating within and beyond Southeast Asia and adapting their operational models as enforcement tightens. These networks rely on a broad illicit ecosystem comprising laundering networks, infrastructure, and trafficked labor, which she described as “remarkably resilient,” with new service providers “quickly filling gaps left by enforcement takedowns.”

    Stablecoins like USDT remain the preferred tool for illicit fund flows because, as Peh explained, criminals utilize them “for largely the same reasons legitimate users do”: liquidity, portability, and relative price stability. She added that on-chain transactions are “transparent and traceable,” and issuers can freeze funds once illicit activity is detected.

    Peh believes that cases like this “certainly can, and already have” bolstered the argument for enhanced global oversight of stablecoins. She suggested that stablecoin issuers should be integral to the “fraud-prevention front line” and that clearer legal frameworks are necessary to facilitate coordination among issuers, exchanges, banks, and authorities when victim funds are at risk.

    In November, Interpol designated scam-compound networks as a global transnational threat. The same month, U.S. agencies established a multi-agency Scam Center Strike Force to track illicit funds. The Strike Force has since frozen, seized, and forfeited over $580 million in cryptocurrency linked to networks operating out of Burma, Cambodia, and Laos.

    Around the same period, Taiwanese prosecutors charged 62 individuals in connection with the network of Cambodian tycoon Chen Zhi, chairman of Prince Group. Chen Zhi was extradited to China earlier this year amid allegations linking his business empire to cyber scam networks.

    In April, Cambodia enacted its most stringent anti-scam legislation to date via royal decree, imposing potential life sentences on compound operators. However, analysts have cautioned that such measures might merely shift the illicit trade across borders rather than eradicate it.

  • Spot Trading Pairs Delisted June 16, 2026

    Spot Trading Pairs Delisted June 16, 2026

    Bybit to Delist H/USDC and ICNT/USDC Spot Trading Pairs

    Cryptocurrency exchange Bybit announced today that it will delist two of its spot trading pairs, H/USDC and ICNT/USDC, effective June 16, 2026, at 8 AM UTC. The decision follows a routine review of listed pairs aimed at ensuring a secure and dependable trading environment for its users, in accordance with Bybit’s Token Management Rules.

    The evaluation process considers key metrics including market performance, liquidity, and trading volume.

    Important Considerations for Traders

    Bybit has provided specific guidance for users holding positions in the affected trading pairs:

    • Order Cancellation: Traders are advised to cancel any outstanding orders for H/USDC and ICNT/USDC before the trading cessation. Any orders left open after the deadline will be automatically removed by the system.
    • Trading Bots: Active Spot Grid Bots and DCA Bots utilizing these tokens will be automatically terminated. Users are encouraged to close their bots in advance to effectively manage their assets.
    • Token Availability: The delisting of these specific spot trading pairs will not impact the availability or trading of the underlying H and ICNT tokens on Bybit. These tokens can still be traded through other available pairs.
    • Deposits and Withdrawals: Deposits and withdrawals for the underlying tokens will continue to be supported unless further notice is issued.
  • Bybit to Support Axelar Network Upgrade

    Bybit to Support Axelar Network Upgrade

    Bybit to Support Axelar Network Upgrade, Halting Deposits and Withdrawals Temporarily

    Cryptocurrency exchange Bybit has announced its support for the upcoming Axelar (AXL) v1.4.7 network upgrade. The upgrade is scheduled to occur on June 16, 2026, at approximately 2:30 PM UTC, or at block height 30,135,800.

    To facilitate a seamless transition, Bybit will temporarily suspend all deposits and withdrawals for Axelar (AXL) starting at 1:30 PM UTC on the same day. The exchange has assured users that other trading activities will remain unaffected during this period.

    Bybit also stated that no further announcements will be made regarding the resumption of deposit and withdrawal services. Users seeking to be notified when these services are back online are advised to visit the Deposit or Withdrawal page and activate the “Set Alert” function.

    Further details concerning the Axelar network upgrade can be found in the official release notes.

  • Bybit to Support Zilliqa Network Upgrade

    Bybit to Support Zilliqa Network Upgrade

    Bybit to Support Zilliqa Network Upgrade, Halting Deposits and Withdrawals Temporarily

    Cryptocurrency exchange Bybit has announced its support for the upcoming Zilliqa (ZIL) network upgrade, version v0.21.6. The upgrade is scheduled to occur around June 16, 2026, at 11:00 AM UTC, or at block height 29,108,584.

    In preparation for the transition, Bybit will temporarily suspend Zilliqa (ZIL) deposits and withdrawals starting at 10:00 AM UTC on June 16, 2026. The exchange has clarified that trading activities will remain unaffected during this period.

    Bybit also noted that there will be no separate announcements regarding the resumption of deposit and withdrawal services. Users wishing to be notified when these services are back online are advised to visit the Deposit or Withdrawal page and activate the “Set Alert” function.

    Further information on the Zilliqa network upgrade can be found in the official release notes.

  • Musk’s xAI Lawsuit Against OpenAI Dismissed

    Musk’s xAI Lawsuit Against OpenAI Dismissed

    Judge Dismisses xAI’s Trade Secret Lawsuit Against OpenAI

    A federal judge has dismissed xAI’s trade secret lawsuit against OpenAI, ruling that Elon Musk’s artificial intelligence company failed to demonstrate that the ChatGPT maker improperly obtained confidential information related to its Grok chatbot.

    In an order issued Monday, U.S. District Judge Rita Lin granted OpenAI’s motion to dismiss the case without leave to amend. The judge concluded that xAI did not provide sufficient evidence that OpenAI encouraged a former xAI engineer to disclose trade secrets during the recruitment process.

    “xAI insufficiently pled inducement in the prior complaint because it offered no nonconclusory allegations allowing a reasonable inference ‘that OpenAI told or encouraged’ xAI’s former employees to exfiltrate its confidential information,” the order stated.

    This ruling marks the second legal setback for Musk, who co-founded OpenAI before leaving in 2018, in his ongoing dispute with OpenAI and its CEO, Sam Altman.

    Last month, a federal jury rejected Musk’s $150 billion lawsuit, which alleged that OpenAI, Altman, and co-founder Greg Brockman had abandoned the organization’s original nonprofit mission by transitioning to a commercial structure and strengthening its ties with Microsoft.

    The most recent lawsuit focused on a presentation given by Xuechen Li, a former xAI engineer, during his recruitment by OpenAI. xAI claimed that OpenAI targeted Li specifically because of his work on Grok 4’s reinforcement learning and post-training systems, and accused the ChatGPT developer of knowingly seeking confidential information about these efforts.

    Judge Lin rejected this argument, writing that “merely asking Li to discuss his previous work—a routine part of the hiring process—does not allow a plausible inference that OpenAI induced Li to reveal anything confidential or secret about that work.” She added that accepting xAI’s theory could “potentially expose employers to liability any time they inquire about a candidate’s past work.”

    The judge also found that xAI failed to prove that OpenAI knew or should have known Li disclosed trade secrets during the presentation.

    “These allegations are insufficient to support a reasonable inference that OpenAI knew or should have known that Li disclosed xAI trade secrets during his presentation,” Lin wrote. “It is not clear how much detail Li shared about xAI’s reinforcement learning techniques. Similarly, while xAI does not allege that Li actually displayed the slide deck during his presentation, even assuming he did, the level of detail contained in the slides remains unclear.”

    The decision comes as Musk recently became the world’s first trillionaire, following SpaceX’s record-breaking initial public offering, which valued the company at approximately $1.77 trillion and solidified its status as one of the globe’s most valuable corporations.

    SpaceX (SPCX) shares continued to climb on Monday amid a broader market surge, influenced by the announcement of a ceasefire between the U.S. and Iran. The company’s stock rose nearly 20% by the close of trading, finishing the day at $192.50, which brings its valuation to over $2.5 trillion.