Bitcoin hit $85,000 for the first time since January as markets focused on cooling oil prices. Bitcoin (BTC) starts a new week at its highest levels in nearly eight months as bulls propel the market to $85,000. Key points: Read more
X alleges six Bitcoin-focused accounts coordinated posts and engagement to inflate creator payouts, with claimed and projected losses of at least $378,000. Elon Musk-owned social media platform X has sued the alleged operators of a network of Bitcoin-focused accounts, seeking to recover at least $278,000 in creator payouts it says they obtained by manipulating engagement. X filed a lawsuit in the High Court of England and Wales on Thursday against Vivek Kumar Sen, Zamyang Sherpa and unidentified account operators, alleging they fraudulently obtained at least 207,384 British pounds ($278,000) from its creator revenue-sharing program. The court filing is available on X’s Transparency Center. The company claims the defendants coordinated multiple accounts to boost engagement by reposting and liking one another’s content and publishing identical or substantially similar posts, creating what the company described as a “false appearance of genuine, human communication and interaction.” Read more
ZetaChain plans to wind down its Cosmos-based layer 1 and migrate ZETA to Solana, joining other crypto projects moving away from standalone chains. ZetaChain tokenholders have approved a plan to wind down the project’s layer-1 blockchain and migrate its native ZETA token to Solana. Governance proposal 68 passed Sunday with 99.4% support and 58% participation, exceeding the network’s 40% quorum requirement. Under the proposal, ZETA will become an SPL token on Solana through a 1:1 conversion, with the same ticker and total supply. According to the proposal, the vote does not immediately trigger ZetaChain’s shutdown or migration. Core contributors will submit a second proposal detailing the withdrawal window for assets linked to other blockchains, snapshot block height, shutdown timetable, token claim process and exchange conversion period. Validators will continue operating and staking rewards will continue during the transition. Read more