Bitcoin News Today TheBitTimes.com

The bankrupt crypto exchange FTX is reportedly primed to begin paying its main group of creditors at the end of May. Business restructuring lawyer Andrew Dietderich said in court last week that the payouts are scheduled to begin on May 30th, Bloomberg reports. FTX will use its $11.4 billion cash reserves, which were amassed after the crypto exchange went down, to reimburse major creditors. FTX classifies its main creditors as individuals and institutions that had millions of dollars stashed in the platform prior to its collapse. Meanwhile, smaller creditors categorized in FTX’s “Convenience Class” started receiving distributions in February, per a press release from the exchange. In October, a US bankruptcy court greenlit FTX’s plan to distribute between $14.7 billion and $16.5 billion worth of payouts to the crypto exchange’s former customers. The plan calls for 98% of the exchange’s creditors to receive approximately 119% of the value of thei...

An Ethereum (ETH)-based altcoin is skyrocketing after gaining support from South Korea’s second-largest crypto exchange. In a new announcement, crypto trading platform Bithumb says that it is now supporting the interoperable cross-chain bridge Across Protocol (ACX), triggering rallies for the digital asset. News of the event caused ACX to surge, as it went from a March 21st low of $0.275 to a peak of $0.462 just a few hours later, a rise of nearly 68%. It has since retraced and is trading for $0.319 at time of writing, a 10% gain during the last 24 hours. In its whitepaper, Across Protocol says it is the only cross-chain platform powered by intents. Explains Across Protocol, “Intents introduce a third party, a relayer (alternatively named filler, or solver), that does the job of delivering assets / executing user transactions quickly. An intent is a type of order where a user specifies an outcome instead of an execution path. In practice, intents ...

A Solana (SOL)-based memecoin is surging after gaining support from top US crypto exchange Coinbase. In a post on the social media platform X, Coinbase announces the addition of Peanut the Squirrel (PNUT) to its platform for spot trading. Amid the news, Peanut the Squirrel is up 26.9% on the day. PNUT is trading for $0.62 at time of writing, and with a market cap of $627.9 million, the memecoin is the 165th largest crypto project. Coinbase signaled last month that a PNUT listing would occur at some point after adding the digital asset to its listing roadmap. Coinbase uses the listing roadmap for transparency and to prevent insider trading on coins prior to them being listed. Being placed on the listing roadmap means the firm has determined the asset will likely be available for trading in the future. PNUT is just one of a batch of other memecoins Coinbase has rolled out support for in recent months. Others include Gigachad (GIGA), a crypto asset inspired by the...

Europe’s leading cryptocurrency exchange, WhiteBIT, concludes the year with remarkable achievements. The latest estimates reveal the company’s capitalization has reached $38.9 billion, while the annual trading volume surged to $2.7 trillion — a 200% increase compared to the previous year. These figures encompass all exchange markets (spot and futures), showcasing the company’s rapid growth and the increasing trust of its users. For context, WhiteBIT’s trading volume surpassed major players like Kraken, whose annual trading volume stood at $628 billion. Remarkably, WhiteBIT’s trading volume exceeds the GDP of countries like Italy or Canada and approaches the GDP of France, valued at $3 trillion. According to WhiteBIT Founder and CEO Volodymyr Nosov, this milestone reflects the exchange’s innovative strategies and strategic focus: “Reaching $2.7 trillion is the result of our dedicated teamwork and the trust of our clients. We remain committed to developing cutting-edge techn...