The two men pleaded guilty to conspiracy to commit wire fraud in February and later received a letter directing them to “self-deport” from the United States. Two Estonian nationals who co-founded the cryptocurrency mining service HashFlare are scheduled to be sentenced on Thursday after pleading guilty to conspiracy to commit wire fraud as part of a plea deal with prosecutors. In a Monday filing, US prosecutors pushed back against many of the claims made by lawyers for HashFlare co-founders Sergei Potapenko and Ivan Turogin in their sentencing recommendation. The two men requested time served, while lawyers representing the US government have asked the judge to sentence them to 10 years in prison, arguing “the harm HashFlare’s victims suffered could not be more real.” Read more
Bitcoin could pick up momentum above $120,000, with ETH, BNB, LINK, and UNI following suit. Key points: Bitcoin finds support at lower levels, but may face strong selling in the $120,000 to $123,218 zone. Net Ether ETF inflows of more than $1 billion on Monday suggest solid institutional demand. Read more
Pantera’s Dan Morehead nailed his prediction for Bitcoin’s Aug. 11, 2025 price, made in November 2022 as BTC was nearing its bottom. Pantera Capital’s adherence to the Bitcoin halving cycle enabled it to predict Bitcoin’s price with striking accuracy in 2022, underscoring how the asset’s supply schedule can influence valuations, even as skepticism about the cycles grows. In November of that year, Pantera published a price chart mapping Bitcoin’s (BTC) halving rallies and showing diminishing returns after each four-year epoch. Factoring in the typical timing between market bottoms and post-halving rallies, the firm projected Bitcoin would hit $117,482 by Aug. 11, 2025. On Aug. 11, Bitcoin closed above $119,000, according to Coin Metrics data cited by CNBC. Read more