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In a recent social media post, former President Donald J. Trump expressed his support for the burgeoning cryptocurrency industry. He said:

I am very positive and open minded to cryptocurrency companies and all things related to this new and burgeoning industry. [] Our country must be the leader in the field, there is no second place.

This statement comes as both Trump and his rival, President Joe Biden, appear to be vying for the support of pro-crypto voters in the upcoming presidential election.

The former presidents recent embrace of cryptocurrency has been notable, beginning with pro-crypto comments made at an event earlier this month. Additionally, Trumps presidential campaign began accepting crypto donations this past Tuesday, fulfilling his pledge to become the first major party candidate to embrace digital currencies such as Bitcoin (BTC) and Ethereum (ETH).

Very recently, Trump went as far as to pledge to exonerate Ross Ulbricht the founder of Silk Road, the worlds first deep web black market. Trump told the Libertarian Party at its national convention on Saturday:

If you vote for me, on Day One, I will commute the sentence of Ross Ulbricht.

Following Trumps pro-crypto stance, there seems to have been a shift in the Biden administrations opposition to crypto, as well as a softening of the traditionally crypto-adverse Securities and Exchange Commissions attitude. Last Wednesday, the White House issued a statement expressing its opposition to the House of Representatives passing a crypto market structure bill, but Biden did not threaten a veto.

The House proceeded to approve the measure, which now heads to the Senate. Furthermore, on Thursday, spot Ethereum exchange traded funds (ETFs) took a significant step toward becoming available in the U.S. after the Securities and Exchange Commission approved key regulatory filings, a move that was considered extremely unlikely just a month ago.

Featured image via Ideogram

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Trump backs cryptocurrency, vows to make America its leader - ReadWrite

A top executive at FTX has been jailed over his connections to the collapsed cryptocurrency exchange, making him the first of disgraced founder Sam Bankman-Frieds inner circle to also face time behind bars.

Ryan Salame, 30, was sentenced to seven-and-a-half years on Tuesday after pleading guilty last year to a campaign finance law violation and a charge of operating an unlicensed money transmitting business.

He was one of four top deputies in the FTX crypto empire who have pleaded guilty to crimes since the company fell apart in November 2022.

Salames sentence exceeded the five to seven years that prosecutors had recommended, according to The New York Times. Defense lawyers had requested an 18-month sentence.

Prior to FTXs collapse, Salame was a key figure at the exchange and one of Bankman-Frieds top lieutenants, overseeing its subsidiary in the Bahamas, where the company was based.

Like other top ranking FTX executives, Salame enjoyed expensive cars and private jets, and bought restaurants in the Berkshires, Massachusetts. According to The Times, he also spent more than $24m on the 2022 midterm elections, mostly donating to campaigns of Republican candidates.

In September 2023, Salame admitted that he had acted as an illegal straw donor at the direction of Bankman-Fried to evade federal disclosure requirements. A straw donor is someone who uses someone elses money to make a political contribution.

In a sentencing memo to Judge Lewis A Kaplan on Tuesday, prosecutors called it one of the largest ever campaign finance offenses in American history, The Times reported.

As part of his plea deal, Salame agreed to pay a $6m fine and more than $5m in restitution, and to forfeit two properties in Massachusetts as well as his Porsche. In the sentencing memo, prosecutors argued that Salame was motivated by a desire for money and influence.

Three other top FTX executives Gary Wang, Nishad Singh and Caroline Ellison also pleaded guilty to financial crimes and agreed to cooperate with the government. They all await sentencing.

Bankman-Fried was sentenced to 25 years in March after being found guilty of two counts of fraud and five counts of conspiracy. As well as his jailtime he was ordered to forfeit $11.2bn.

In their own memo to the judge, Salames defense lawyers said their client had not been aware that Bankman-Fried was stealing billions of dollars from customers. The news was as shocking and dismaying to Ryan Salame as to everyone else in the world, the lawyers wrote.

Salames life had been decimated in nearly every possible way, and that FTXs demise brought shame and instability to his family, his lawyers wrote.

At its height, FTX was worth $32bn and had a million users. Bankman-Fried was considered somewhat of an anomaly in the world of crypto, both for his age, 32, and his intention to use his wealth for altruistic purposes.

The empire came crashing down in November 2022 when a CoinDesk report revealed that most of FTXs assets were held by a quantitative trading company that Bankman-Fried also ran called Alameda Research.

The revelation sent investors and customers scrambling to withdraw their funds, which later exposed an $8bn hole in the company. As quickly as FTX grew, it fell becoming essentially bankrupt overnight.

Bankman-Fried was previously criticized by Judge Kaplan, who also presided over the FTX founders sentencing, for putting on a performance to make himself seem more likeable.

When not lying, he was evasive, hair-splitting, trying to get the prosecutors to rephrase questions for him, Judge Kaplan said. Ive been doing this job for close to 30 years. Ive never seen a performance like that.

Bankman-Fried was once known as the King of Crypto and became a billionaire who appeared on the covers of magazines and brokered lucrative deals with celebrities to promote his company.

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Top FTX executive jailed over connections to failed cryptocurrency empire - Yahoo News UK

Cryptocurrency enthusiasts are always on the lookout for the next big opportunity, and the rapidly evolving digital asset space continues to offer promising investment prospects. Among the myriad of altcoins available, Retik Finance (RETIK), Polkadot (DOT), and Chainlink (LINK) stand out as strong contenders with the potential to skyrocket by 2000% or more by December 2024. This article delves into the unique attributes, current market positions, and future prospects of these three cryptocurrencies.

Retik Finance (RETIK) is built on the principles of decentralization, transparency, and inclusivity. It aims to democratize access to financial services and revolutionize the way people interact with money. One of the key drivers behind the rapid ascent of Retik Finance is its commitment to innovation, offering a suite of DeFi products including smart crypto payment gateways, AI-powered peer-to-peer lending, and multi-chain non-custodial wallets. Retik Finance has cultivated a vibrant and engaged community of users who actively contribute to the platforms growth and development. Community-driven initiatives such as governance voting and incentivized participation programs foster a sense of ownership and belonging among its supporters, further fueling its momentum in the DeFi space.

The recent launch of Retik Finance (RETIK) on multiple centralized exchanges marked a significant milestone in the platforms journey toward mainstream adoption. Within hours of its debut, the market capitalization of RETIK soared to almost $3 billion, and the token price reached an all-time high of $3. This represented a 20x increase from its launch price and a 100x surge from the first stage of its presale price. The successful launch on Uniswap and multiple exchanges has set a strong foundation for future growth. Analysts predict that RETIK is poised for a substantial 70x bull move in 2024 with a price prediction of $10. Innovative solutions like the Retik DeFi debit card, Retik Pay, and the Retik Wallet are expected to attract more users and investors, strengthening RETIKs long-term growth potential. Given the growing adoption of DeFi solutions and the increasing mainstream acceptance of cryptocurrencies, RETIK could see explosive appreciation, potentially reaching up to four-digit gains.

Polkadot is a decentralized protocol designed to facilitate the transfer of data and value between different blockchain networks that wouldnt otherwise be compatible. By serving as a connecting point for all other blockchain networks, Polkadot promotes scalability and interoperability. Thanks to its use of next-generation nominated proof-of-stake (NPoS), Polkadot operates with a fraction of the energy consumed by many other blockchains. Among the proof-of-stake procedures examined in a recent study, Polkadot boasts one of the lowest carbon footprints in the industry. Additionally, DOT holders can participate in governance, allowing them to partake in the management of events like fixes and protocol upgrades. At the time of writing, Polkadots price is $7.26, with a 24-hour trading volume of $714.51 million, a market cap of $7.17 billion, and a market dominance of 0.28%. The DOT price increased by 1.96% in the last 24 hours. The Polkadot price prediction sentiment is currently neutral, while the Fear & Greed Index is showing 74 (Greed). Experts predict that by December 2024, the minimum DOT price might drop to $25.25, while its maximum can reach $31.31, with an average trading cost of around $26.19. The potential ROI for DOT is estimated at 204.6%, driven by its strong fundamentals, innovative technology, and growing ecosystem.

Chainlink is renowned for its ability to link smart contracts on blockchains to real-world data and events. This makes it the most popular Oracle network for hybrid smart contracts. Chainlinks oracle network can be used by a smart contract to obtain external data, such as the price of Bitcoin Cash in US dollars, for instance. Chainlink is planning to implement token staking and node delegation schemes, which could make the network more secure and decentralized. Oracles, which provide data to smart contracts, receive LINK tokens as compensation for their work. Chainlink also offers timely and precise off-chain data reports for services ranging from AccuWeather to the SWIFT payment system. As of now, Chainlinks price is $17.30, with a 24-hour trading volume of $1.66 billion, a market cap of $10.16 billion, and a market dominance of 0.40%. The LINK price has increased by 6.17% in the last 24 hours. The Chainlink price prediction sentiment is currently bullish, with the Fear & Greed Index showing 74 (Greed). Analysts predict that by December 2024, the minimum LINK price might drop to $53.75, while its maximum can reach $63.89, with an average trading cost of around $55.65. The potential ROI for LINK is estimated at 200.1%, supported by its robust technology, extensive partnerships, and increasing adoption.

Retik Finance, Polkadot, and Chainlink are three altcoins with substantial potential to deliver massive returns by December 2024. Retik Finance stands out with its innovative DeFi solutions and strong community engagement, Polkadot with its focus on interoperability and scalability, and Chainlink with its crucial role in linking blockchain technology to real-world data. As the cryptocurrency market continues to evolve, these three projects are well-positioned to achieve significant growth, making them worthy considerations for investors seeking high-reward opportunities.

Visit the links below for more information about Retik Finance (RETIK):

Website:https://retik.com

Whitepaper:https://retik.com/retik-whitepaper.pdf

Twitter:www.twitter.com/retikfinance

Telegram:www.t.me/retikfinance

Disclaimer:This is a paid release. The statements, views and opinions expressed in this column are solely those of the content provider and do not necessarily represent those of NewsBTC. NewsBTC does not guarantee the accuracy or timeliness of information available in such content. Do your research and invest at your own risk.

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Cryptocurrency: 3 Altcoins That Could Skyrocket 2000% Between Now and December 2024 - NewsBTC

Federal regulators on Thursday approved an investment product tied to the cryptocurrency Ether, the most valuable digital asset after Bitcoin, in a major boost for the crypto industry.

The Securities and Exchange Commission said a group of exchanges could begin listing investment products known as exchange-traded funds, or E.T.F.s, linked to the price of Ether. The products would offer an easier and simpler way for people to invest in crypto, potentially boosting prices and promoting wider adoption of digital currencies.

In January, the S.E.C. approved similar products that track the price of Bitcoin, leading to a flurry of new investment that helped propel Bitcoins price to a record high.

The impact of the Ether approval could take longer to hit the market. Before the exchanges can start offering Ether E.T.F.s, the S.E.C. must also approve a separate set of applications from companies that want to issue them, including from major financial firms like BlackRock and Franklin Templeton. That process could take weeks or months, according to financial experts.

An S.E.C. spokeswoman said the agency had no comment beyond a formal order approving the products.

The news prompted celebration in the crypto industry. A representative for 21Shares, one of the companies seeking to offer the Ether investment product, called it an exciting moment for the industry at large.

But industry critics called the approval a dangerous development that would encourage wider investment in a volatile market.

The S.E.C. failed to live up to its mission to protect investors and the markets, Benjamin Schiffrin of Better Markets, a nonprofit that fights for stricter financial regulations, said in a statement.

Offered by mainstream financial services firms, E.T.F.s are essentially baskets of assets rather than buying the assets directly, customers buy shares in these baskets. The products are easy to trade, from brokerage accounts with companies like Vanguard or Charles Schwab, and are popular with wealth advisers and other financial mangers.

In the crypto world, E.T.F.s offer another key advantage: simplicity. Rather than navigating the complexities of an online crypto wallet, a customer could go online and buy shares in a Bitcoin or Ether E.T.F. alongside stocks traded on Wall Street.

For years, crypto advocates have seen these products as a promising way to encourage wider use of digital currencies. Before the Bitcoin E.T.F.s were approved, crypto companies battled the S.E.C. in the courts, securing a legal victory in August that forced the agency to allow the products.

The Bitcoin E.T.F.s have proved to be enormously popular, attracting billions of dollars in investment.

The price of Ether has rebounded over the last few months, after a crypto downturn that started in 2022. Ether currently trades at about $3,800 per coin, more than 20 percent off its high of just under $4,900.

Thats a small fraction of the price of Bitcoin, which trades at about $68,000 per coin.

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Ether Cryptocurrency ETFs Are Approved by the SEC - The New York Times

Dubai, UAE, May 28th, 2024, Chainwire

MultiBank.io, the cryptocurrency exchange division of the esteemed MultiBank Group, has been awarded the prestigious "Best Crypto Exchange 2024" title at Crypto Expo Dubai.

This distinction emphasizes MultiBank.io's unwavering focus on delivering an exceptional trading experience, cementing its status as a prominent contender in the cryptocurrency world. The exchange is strategically expanding its presence in the dynamic cryptocurrency market by introducing various innovative features and security measures.

Proud Moment at Crypto Expo Dubai 2024Crypto Expo Dubai, held at the Dubai World Trade Centre on May 20-21, 2024, witnessed a convergence of crypto enthusiasts, global industry leaders, and innovators. As a Titanium Sponsor, MultiBank.io played a vital role in the event, showcasing its state-of-the-art trading platform and offering deep insights into the rapidly evolving world of cryptocurrencies.

Visitors had the opportunity to engage with MultiBank.ios team of experts, exploring its comprehensive range of crypto offerings and learning about the latest market trends. The event proved to be a fertile ground for networking, learning, and discovering valuable insights, reinforcing MultiBank.io's growing presence in the crypto landscape.

On the opening day of the conference, attendees were invited to a keynote address by Zak Taher, CEO of MultiBank.io. This pivotal speech focused on the fundamental values of MultiBank.ios crypto exchange: "Where TradFi meets Crypto." This address provided attendees with an enlightening opportunity to discover the fusion of traditional finance and digital assets.

Cutting-Edge Trading SolutionsMultiBank.ios platform is designed to meet the sophisticated needs of modern traders. The exchange offers an extensive array of crypto assets; spot and derivatives, with leverage options of up to 100x, providing traders with the tools necessary to navigate the intricate landscape of the cryptocurrency market with confidence and precision.

Unwavering Commitment to SecuritySecurity is a cornerstone of MultiBank.ios operations. The platform has earned an impeccable 10/10 Penetration Testing Score from Hacken, a leading blockchain security auditor. MultiBank.io's adherence to the highest standards of transparency and client fund security is further validated by its regulation under the Australian Transaction Reports and Analysis Centre (AUSTRAC). Moreover, MultiBank.io is backed by MultiBank Group, which operates under the supervision of 15 financial regulators, including ASIC, BaFin, ESCA, CySEC, and MAS, among others.

Looking AheadAs MultiBank.io continues to innovate and expand its offerings, the "Best Crypto Exchange 2024" award serves as a testament to its dedication to excellence in the cryptocurrency industry. The recognition at Crypto Expo Dubai is a milestone that highlights the platform's ongoing efforts to provide secure, efficient, and cutting-edge crypto trading solutions to its burgeoning global clientele.

For more information about MultiBank.io and its services, visit MultiBank.io.

ABOUT MULTIBANK.IO

MultiBank.io, a cryptocurrency exchange under MultiBank Group, offers a user-friendly platform for instant, secure trading including and . For more information, visit https://multibank.io

ABOUT MULTIBANK GROUP

Founded in California, USA, in 2005, MultiBank Group has grown to command a daily trading volume exceeding $12.1 billion, serving over 1 million customers. MultiBank Group has matured into one of the largest online financial derivatives providers globally, offering an array of brokerage services and asset management solutions. The groups award-winning trading platforms offer up to 500:1 leverage on a diverse range of products, including Forex, Metals, Shares, Commodities, Indices, and Digital Assets. For more information, visit https://multibankfx.com

ContactAntonio BileciBileciantonio.bileci@multibank.io

This article was originally published on Chainwire

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MultiBank.io Wins "Best Crypto Exchange 2024" Award at Crypto Expo Dubai By Chainwire - Investing.com