Bitcoin Becomes 5th Largest Global Asset 💹
On this episode of your favorite weekly news round-up, we saw the king of coins give us a brief teaser with a surge towards $100k before it eventually gave in to the law of gravity. But who knows? That $100k might just be waiting to happen, or maybe it's playing hard to get while Bitcoin just goes up and casually brings Google down with it, becoming the fifth-largest asset in the world. From internet money to a financial heavyweight in just over a decade.
Meanwhile, North Korean hackers are getting really creative now. You’ve got some next-level social engineering going on with newly founded companies and amazing job interviews all lined up for unsuspecting American devs. How about that for new scam tactics?
Here are the Highlights:
- Bitcoin Hits 7-Week Highs, Then Slips Below $94K as Analysts Doubt Immediate $100K Breakout
- North Korean hackers set up 3 shell companies to scam crypto devs
- Bitcoin Becomes Fifth Largest Global Asset, Surpasses Google's Market Cap
- Retired NBA Star Shaquille O’Neal Settles FTX Endorsement Lawsuit for Undisclosed Amount
Bitcoin Hits 7-Week Highs, Then Slips Below $94K as Analysts Doubt Immediate $100K Breakout
Bitcoin (BTC) briefly surged to seven-week highs above $95,000 following the Wall Street open on April 25 but has since retreated below $94,000, fueling skepticism over the strength of the latest rally. According to data from Cointelegraph Markets Pro and TradingView, BTC/USD initially preserved support at its yearly open of $93,500, leading to a wave of leveraged short liquidations. However, the gains proved short-lived, as sellers reasserted pressure near key resistance levels.
North Korean hackers set up 3 shell companies to scam crypto devs
A subgroup of the North Korea-linked hacker organization Lazarus set up three shell companies, two in the US, to deliver malware to unsuspecting users. The three sham crypto consulting firms — BlockNovas, Angeloper Agency and SoftGlide — are being used by the North Korean hacker group Contagious Interview to distribute malware through fake job interviews, Silent Push Threat Analysts said in an April 24 report. Silent Push senior threat analyst Zach Edwards said in an April 24 statement to X that two shell companies are registered as legitimate businesses in the United States.
Bitcoin Becomes Fifth Largest Global Asset, Surpasses Google's Market Cap
Bitcoin (BTC) has become the fifth-largest asset by market capitalization, reaching $1.86 trillion and surpassing Google (GOOG) as it breaks through $94,000. This marks the highest position bitcoin has ever attained in the rankings, even though its market cap previously exceeded $2 trillion when its price was over $109,000. At that time, however, tech stocks were significantly more elevated than they are at the moment. Bitcoin has just broken above $94,000, turning positive for the year. Renewed optimism is emerging amid easing tensions in the U.S.–China tariff trade war, which has fueled gains for both bitcoin and tech stocks, with Nasdaq futures rising 2%.
Retired NBA Star Shaquille O’Neal Settles FTX Endorsement Lawsuit for Undisclosed Amount
NBA legend Shaquille O’Neal has settled a lawsuit that arose from his endorsement of the failed crypto exchange FTX. The former professional basketball player is among the co-defendants in a case against FTX founder Sam Bankman-Fried, who is now behind bars for misappropriating over $8 billion in customer funds that led to the collapse of the exchange. The class action complaint filed by Oklahoma resident Edwin Garrison in 2022 accused the celebrities and athletes who promoted FTX of engaging in deceptive practices and failing to perform due diligence prior to promoting the now-defunct trading platform.
Other Highlights Worth Mentioning
Coinbase Reports $90M in Lost Staking Rewards Due to SEC Restrictions - Yellow
Fed Drops Crypto Restrictions for Banks, Opening Doors to Digital Assets - Bitcoins
Russia to launch national crypto exchange limited to high net-worth investors - Cryptoslate
Binance’s CZ and Bloomberg Continue to Clash Over Crypto Advisory Reports - Beincrypto