Latest Crypto News | Bitcoin, Ethereum and Altcoin Updates

Abu Dhabi’s financial regulator has approved Tether’s USDT stablecoin for multi-chain issuance and use within its jurisdiction, allowing USDT to operate across several blockchain networks under local regulatory oversight. The approval covers issuance, custody, and transfer of USDT on multiple chains, and mandates compliance measures such as KYC/AML, reserves transparency, and reporting requirements. The move positions Abu Dhabi as a more crypto-friendly jurisdiction and aims to support institutional and retail access to stablecoins while reducing settlement frictions. Key implications include broader on- and off-ramp options for traders, potential increases in USDT liquidity on local exchanges, and clearer compliance frameworks for businesses using stablecoins. Market participants should expect improved fiat-crypto flows in Abu Dhabi, possible short-term volatility as liquidity reallocates across chains, and longer-term stability benefits from regulated stablecoin activity.

Former SEC Commissioner Paul Atkins told Decrypt that a substantial number of ICO tokens should not be treated as securities. Atkins argued tokens with clear utility—used to access services, represent digital collectibles, serve as payment/exchange tokens, or grant governance rights—do not meet the Howey Test’s criteria for investment contracts. He warned that applying securities law broadly risks stifling innovation and imposing heavy compliance costs on projects. Atkins suggested that some non-security tokens could fall under CFTC or other regulatory regimes instead. The article advises investors to perform rigorous due diligence (focus on token utility and working products) and project founders to design tokenomics emphasizing real utility and to seek legal counsel to reduce regulatory risk. The piece underscores continued uncertainty due to lack of clear rules and contrasts Atkins’s view with current SEC leadership, which has tended to classify many tokens as securities.

Traders and analysts observing Shiba Inu (SHIB) say market sentiment looks grim, with many claiming “SHIB is dead.” Despite negative commentary and low volatility, technical analysts point to a major chart pattern — a long-term consolidation forming what some call a descending triangle / pennant or a bullish accumulation structure depending on analyst — that often precedes a significant breakout. Key points: SHIB price has been range-bound after a steep post-2021 decline; volume has contracted during consolidation; options and on-chain activity show mixed signals but some accumulation by whales. Technical setups highlighted include tightening price range near key support levels and a potential breakout target measured by the pattern’s height, implying a large percentage move if triggered. Analysts caution that a breakout direction is not guaranteed: a bullish breakout could produce a rapid rally, while a bearish breakdown could accelerate losses. For traders, the article stresses watching breakout confirmation, volume spikes, support/resistance levels, and risk management (stop-loss placement and position sizing). The piece frames the development as a potential high-reward, high-risk trading opportunity rather than fundamental revival, noting market sentiment remains skeptical and fundamentals for SHIB (tokenomics and utility) unchanged.

Binance CEO Changpeng Zhao (CZ) forecasted a major crypto “supercycle” in 2026 driven by rising Bitcoin demand and macro tailwinds, suggesting BTC could revisit and exceed previous all-time highs and potentially target levels above $126,000. CZ linked the outlook to continued institutional adoption, improving on-chain demand, and a stronger macro environment for risk assets. The commentary follows broader market optimism after recent BTC price consolidation and ongoing narrative around spot Bitcoin ETFs, regulatory clarity, and reduced selling pressure from miners and long-term holders. Key points: CZ’s public prediction of a 2026 supercycle; a bullish price target mention above $126K for BTC; drivers cited — institutional flows, ETFs, on-chain demand, macro conditions; context — recent BTC consolidation and ongoing ETF/regulatory developments that influence liquidity and volatility. Traders should note that such high-profile bullish statements can amplify retail and institutional sentiment, potentially increasing leverage and volume in the short term while longer-term realization depends on macro factors, ETF inflows and supply dynamics.

French payments fintech Lyzi has rolled out crypto payment acceptance at luxury car dealerships operated by Luxembourg-based InvestGroup, including Porsche and Lamborghini outlets. The integration, enabled via a partnership with InvestGroup, lets customers pay for vehicles and services using cryptocurrencies; Lyzi converts crypto receipts to fiat immediately to shield dealerships from volatility. Lyzi supports major tokens (e.g., Bitcoin, Ethereum) and offers point-of-sale and online checkout solutions tailored for high-value transactions. The deployment aims to attract wealthy crypto holders and modernize luxury retail payment options, while minimizing settlement risk for dealers. Lyzi, founded in France, emphasized compliance and instant conversion as key features to align with merchant risk policies. This move follows a broader trend of luxury brands and retailers testing crypto payments to capture affluent customers and drive higher ticket sales.

Analysts modelled a scenario where XRP captures 15% of the current $3.22 trillion crypto market. At that market share, XRP’s market capitalization would be about $483 billion. With an estimated circulating supply of 60 billion XRP, the implied price would be roughly $8 per token — a >250% rise from the current ~$2.27. The article notes XRP’s market cap fell about $40 billion over the past month to ~$137 billion, and its dominance slipped slightly from 4.28% to 4.25% (below a yearly peak of 5.53%). Analysts cited (named traders/technicians) who have previously forecasted moves to the $8 range based on technical patterns. The piece stresses this is a hypothetical illustration: the price outcome assumes only a reallocation of existing market share (no overall market expansion) and is not financial advice.

Bloomberg and The Information report that SpaceX is preparing for a potential mid‑2026 IPO that could value the company between about $800 billion (earlier reports) and as high as $1.5 trillion in later reporting, with Bloomberg indicating plans to raise more than $30 billion. Management has briefed institutional investors; the offering would cover the whole company, including Starlink, with projected revenues near $15 billion in 2025 and $22–24 billion in 2026. If executed, this would rank among the largest IPOs ever and could materially reshape global capital flows. For crypto traders: a mega‑IPO of this scale may reprice risk sentiment and liquidity. Institutional demand for a massive tech equity could draw capital away from high‑beta crypto positions, compress cross‑asset liquidity, and trigger sector rotations during roadshows, tranche sales and post‑IPO lockup expiries. Key watchables are official confirmation, IPO structure (full company vs. carve‑outs), deal size and tranche/timing details, institutional demand metrics, and macro liquidity indicators. Traders should monitor cross‑asset flows, funding rates, stablecoin balances on exchanges, implied vol and spot liquidity — these will signal rotation intensity and short‑term volatility risks as capital reallocates between equities and cryptocurrencies.

Senator Cynthia Lummis (R-Wyo.), a lead negotiator on bipartisan U.S. market-structure legislation for digital assets, said the White House rejected ethics language she and Senate Democrats proposed. Speaking at the Blockchain Association policy summit, Lummis said Democrats want restrictions preventing senior officials from profiting from crypto businesses they oversee and assurances that Democratic nominees receive commission slots at the SEC and CFTC. The White House reportedly pushed the draft back for revision. Lummis expects negotiators to release a working draft by the end of the week and hold a markup next week. Senator Kirsten Gillibrand, Lummis’s Democratic counterpart, said the draft addresses issues beyond the House Clarity Act, including decentralized finance exchanges. The talks involve the Senate Banking and Agriculture committees; language is still evolving as industry stakeholders grow impatient with closed-door negotiations.

Ethereum’s circulating supply has fallen to its lowest level in a decade, driven by sustained burning of ETH since EIP-1559 and continued net issuance reductions. Analysts note that fewer ETH available on exchanges and decreased liquid supply increase the potential for a supply shock if demand rises. Key metrics cited include multi-year lows in exchange balances and historically reduced daily issuance after protocol upgrades and staking growth. Traders are warned that lower circulating supply can amplify price moves: a modest increase in buy-side demand may trigger outsized upward price reactions. The article highlights on-chain indicators (exchange reserves, burn rate, staking participation) as critical signals to monitor and recommends watching short-term liquidity (order book depth) and derivatives positioning for signs of leveraged flows. Overall, the supply contraction is presented as a bullish structural factor for ETH, though timing and magnitude of any rally depend on demand catalysts and macro conditions.

U.S. President Donald Trump will begin the final round of interviews this week to select a nominee for Federal Reserve chair, according to the Financial Times cited by PANews. The process marks the concluding stage of the administration’s selection, with the chosen candidate expected to shape future U.S. monetary policy and central bank leadership. No candidate names or timeline for an official nomination were provided in the report. The development is positioned as market-relevant information but does not constitute investment advice.

TRUMP’s official account announced the launch of a mobile game called “Trump Billionaires Club,” with technology support from OpenLoot. The game will integrate the TRUMP meme token for in-game activities and transactions, making TRUMP a utility token within the game ecosystem. The announcement was posted on X and framed as part of community and product development. No release date, gameplay details, tokenomics, or partnership financial terms were disclosed. Traders should note the potential for increased on-chain activity and speculative demand for TRUMP following game-related marketing, though specifics remain limited.

Bitcoin has reasserted market dominance as spot ETFs drive sustained institutional flows while retail participation on exchanges weakens. Data shows only 4 of 55 major altcoins outperformed BTC in the past 60 days, keeping the Altcoin Season Index at 5–10% and indicating a continuing "Bitcoin season." Correlations between major altcoins and BTC sit around 0.7–0.9, meaning Bitcoin’s moves largely dictate market direction. CryptoQuant and on-chain analysts report retail "shrimp" holders (<1 BTC) dramatically reduced exchange transfers: shrimps sent 411 BTC to Binance recently versus 2,675 BTC during the 2022 post-FTX panic, and inflows from small holders during the ETF era fell over 60% from 1,056 BTC. Meanwhile, spot ETFs have logged monthly inflows of $4–$6 billion. Price action is cautious: BTC traded near $90,196 and remained below key EMAs (20-, 50-, 100-day at ~$91k, $96.9k, $102.3k respectively). RSI and CMF show only muted demand and mild capital inflows. For traders, the takeaways are: Bitcoin-led market structure favors BTC over altcoins; ETF-driven liquidity may stabilize markets but reduce retail-driven volatility; upside conviction is limited until BTC reclaims the 20-day EMA. Short-term: expect BTC to set market direction and subdued altcoin performance. Medium-to-long-term: continued ETF inflows support institutional demand, but self-custody proponents and on-chain holders maintain dual flows that could preserve decentralized ownership dynamics.

Major US technology companies are coordinating efforts to challenge China’s growing influence in open-source artificial intelligence (AI). The informal coalition—reported to include leading firms across cloud, chip and software sectors—is sharing code, models and governance practices to accelerate domestic open-source AI development and reduce dependency on Chinese tools and datasets. Key measures discussed include pooling engineering resources, aligning licensing strategies, and boosting funding for open-source model hubs and safety audits. The move responds to rapid advances from Chinese companies and research groups that have released competitive open-source large language models and toolkits, raising concerns about talent attraction, supply-chain vulnerability, and national security. Analysts say the initiative could speed innovation in US AI ecosystems, create competitive pressure on cloud and compute pricing, and prompt tighter controls on cross-border model sharing. Traders should watch increased demand for cloud compute (AWS, GCP, Azure) and AI chipmakers, potential shifts in open-source tokenization or licensing, and any regulatory signals affecting cross-border tech collaboration.

In November 2025 the first U.S. spot altcoin ETFs launched—XRP, Solana, Litecoin and Dogecoin—and performance diverged sharply. XRP ETFs (six listings) accumulated $676M AUM by Nov 27 with zero net outflows; strong flows were driven by Ripple’s SEC settlement (clarified regulatory status), a “financial infrastructure” narrative and aggressive fee competition. XRP price rose 7.2% in November, the only altcoin to gain. Solana ETFs (six listings) drew $918M AUM with $613M cumulative net inflows, yet SOL fell ~29% amid a market-wide flash crash; Solana ETFs offer 6–8% staking yields, attracting institutions despite price weakness. Litecoin and Dogecoin ETFs were largely ignored, together netting under $8M: LTC suffered from an outdated “digital silver” narrative, high fees (0.95%) and low liquidity; DOGE’s meme status, perpetual inflation and lack of institutional utility repelled buyers. Context: November also saw ~$40B net outflows from Bitcoin and Ethereum spot ETFs as traditional institutions cut risk after sharp BTC drawdowns, while crypto-native players used the volatility to buy new altcoin ETF exposure. The report argues a “new product” effect initially boosts flows, but long-term success will depend on narrative, regulatory clarity and ecosystem utility. Expect industry consolidation: a small group of top ETFs will capture most flows, many tail products may be liquidated over time.

Coinbase announced it will list Hyperlane (HYPER) for spot trading. Subject to liquidity and regional availability, the HYPER–USD pair is scheduled to begin trading on or after 01:00 Beijing time on December 11. Hyperlane (HYPER) will be available on coinbase.com, the Coinbase mobile app and Coinbase Advanced; institutional clients can access HYPER directly via Coinbase Prime. This listing expands HYPER’s accessibility to Coinbase’s retail and institutional user bases. No trading or custody details beyond platform availability and the start time were provided. This content is informational and not investment advice.

Circle shares showed a technical sell signal after the TD Sequential indicator flashed on the daily chart, prompting a pullback as investors booked profits. Shares traded around $88.88 at Tuesday’s close, and year-to-date gains have been eroded amid market volatility. Analyst Ali Martinez flagged the indicator after it previously identified a local bottom, noting potential downside ahead. Despite the technical warning, Circle has expanded its regulatory and product footprint: it received Financial Services Permission to operate as a money services provider in the UAE (facilitating regulated payments and settlements using USDC), launched USDCx — a privacy-enhanced stablecoin in partnership with Aleo blockchain — and forged a partnership with Bybit to boost USDC liquidity, on/off-ramps and global utility. Baird Capital reiterated an outperform rating and set a price target, citing the Bybit tie-up. Key market risks include stagnant USDC adoption versus dominant competitor Tether, broader crypto-market volatility, and awaiting macroeconomic data that could influence investor positioning. For traders, the news combines a near-term technical bearish cue for Circle equity with longer-term bullish fundamentals tied to regulatory approvals, product innovation (USDCx), and exchange partnerships that may expand USDC usage.

SEC Chair Gary Gensler told lawmakers that many token sales and certain types of crypto initial coin offerings (ICOs) do not fall within the Securities and Exchange Commission’s enforcement or regulatory purview. Gensler emphasized that while the SEC enforces securities laws where tokens meet the Howey test, a range of token offerings — including some utility tokens and certain decentralized protocol distributions — may not be securities. He urged Congress to clarify jurisdictional boundaries and update federal law to address crypto-specific structures and market conduct. The chair reiterated the SEC’s focus on investor protection where token sales involve investment contracts, and said gaps in statutory authority hamper consistent oversight. The remarks signal the SEC’s preference for clearer legislative guidance rather than widening agency reach unilaterally. Primary keywords: SEC, ICOs, crypto regulation. Secondary keywords: Gary Gensler, Howey test, token sales, Congress, investor protection.

The U.S. Department of Defense has unveiled a new military AI platform built with Google’s Gemini models as part of a broader effort to accelerate AI adoption within defense operations. The platform aims to integrate advanced large language model capabilities for tasks such as intelligence analysis, decision support, and operational planning. Officials emphasized improved processing of unstructured data, faster information synthesis, and enhanced human‑machine collaboration. The rollout highlights strengthened public‑private partnerships between the Pentagon and major tech providers, and signals increased momentum in defense AI procurement and deployment. No immediate battlefield deployments or new weapons systems were announced; the initiative focuses on command, control, intelligence, and analytic enhancements. Key themes: Department of Defense, Google Gemini, military AI platform, intelligence analysis, public‑private tech partnerships.

Tempo, a payments-focused layer-1 backed by Stripe and Paradigm, has opened its public testnet to let developers and institutional partners build and test stablecoin-based payments on an EVM-compatible chain. The network targets high-volume financial flows (B2B, P2P, card rails and cross-border remittances) and introduces payment-specific features: dedicated low-fee blockspace lanes and USD-denominated (stablecoin) gas to reduce volatility and transaction costs. Tempo emphasizes very low fees (about one-tenth of a cent per tx in earlier reporting), instant finality and native support for U.S. dollar-denominated stablecoins without a volatile gas token. Early design and partner lists include OpenAI, Shopify, Visa, Mastercard, UBS, Klarna, Deutsche Bank, Coastal Bank and others. Tempo ran four team validators in the testnet phase with plans to onboard independent operators prior to mainnet; no fixed mainnet date was announced. The project raised $500m at a $5bn valuation (Oct 2025) and has added Ethereum researcher Dankrad Feist to refine its protocol. Developers can experiment with browser-based stablecoin issuance and interactive tutorials. Compared with peers (eg, Circle’s Arc), Tempo’s selling point is stablecoin-native gas and payment lanes designed for predictable, ultra-low-cost payments for fintech and embedded finance. For traders, the launch is a market-structure development: it may boost on-chain payment activity and stablecoin utility over time, but immediate price impact on any single token is limited while the protocol remains in controlled testnet mode.

The Canton Network and Digital Asset completed a second onchain US Treasury financing trial demonstrating real-time collateral reuse of tokenized US Treasurys while expanding stablecoin support. Five transactions were executed across counterparties using multiple stablecoins (building on a July USDC-only pilot) to finance positions against tokenized US Treasurys. Participants included Bank of America, Citadel Securities, Cumberland DRW, Virtu Financial, Société Générale, Tradeweb, Circle, Brale and M1X Global as part of the Canton Industry Working Group. The test showed tokenized Treasurys can be passed and reused instantly on shared infrastructure, reducing rehypothecation delays and widening onchain liquidity. Canton Network now hosts over $370 billion in tokenized real-world assets (RWA) per RWA.xyz, and Digital Asset recently secured roughly $50 million in strategic funding from BNY, iCapital, Nasdaq and S&P Global following a $135 million raise earlier in the year. Key implications: expanded stablecoin liquidity, faster settlement via real-time collateral reuse, and stronger institutional adoption of tokenized RWAs.

Senator Cynthia Lummis urged the Senate Banking Committee to hold a formal markup of the long-delayed market structure bill—the Responsible Financial Innovation Act—as early as next week before Congress’ holiday recess. Speaking at the Blockchain Association Policy Summit, Lummis said repeated rewrites had exhausted staff on both sides and that she and Senator Kirsten Gillibrand planned to circulate a draft to lawmakers and industry this week. A markup would allow senators to amend the bill before it goes to the full Senate. The push follows the House’s July passage of the Digital Asset Market Clarity Act of 2025, which assigns primary oversight of digital commodities to the CFTC while leaving SEC authority over fundraising and token issuance. Negotiations in the Senate have been slowed by a recent government shutdown, disputes over DeFi regulation, differing token definitions (the Senate’s “ancillary assets” vs. other drafts), and delays over quorum and ethics language from the White House. Senators including Bernie Moreno and Mark Warner have warned that a poor deal or delays into the election cycle could derail progress; Tim Scott had suggested a possible December markup date. Lummis previously estimated the bill could be signed into law by 2026 if negotiations conclude. Key keywords: crypto market structure, Responsible Financial Innovation Act, CFTC, SEC, markup, Lummis.

A Chinese artificial intelligence model has published projected end-of-2025 prices for several major memecoins and tokens, notably XRP, Shiba Inu and Dogecoin. The AI’s forecasts include specific price targets and timelines for these assets, claiming to use on-chain data, market sentiment and proprietary algorithms to reach its conclusions. The report gained attention on social media and crypto forums, sparking debate among traders and analysts about the reliability of AI-driven price predictions. Critics warned about overreliance on opaque models and the risk of amplification of speculative behavior, while proponents argued such tools can offer useful scenario analysis. The piece notes no regulatory backing or audited methodology for the AI’s claims and reminds readers that AI outputs are probabilistic, not guarantees. Market commentators said the announcements could temporarily affect retail sentiment and social-driven price moves for XRP, SHIB and DOGE, but fundamental investors are unlikely to change positions solely on the AI’s projections.

Stable, a company behind the USDS stablecoin, has launched a dedicated stablecoin network designed to standardize and streamline issuance, redemption and interoperability of USD-pegged tokens. The network aims to provide unified infrastructure for fiat-backed stablecoins, improve liquidity routing between issuers and exchanges, and offer standardized APIs and compliance tools to simplify on-ramps and off-ramps. Stable’s offering targets faster settlements, reduced counterparty risk and better transparency through shared protocols. The move may encourage broader adoption by simplifying integration for custodians, exchanges and DeFi platforms. Key themes: stablecoins, interoperability, fiat on-ramps, regulatory compliance, liquidity optimization.

A newly filed US ETF proposal — dubbed an “After Dark” Bitcoin ETF — would hold bitcoin (BTC) only during U.S. off‑hours: building positions after U.S. market close and selling before the U.S. open. The strategy aims to capture historically stronger BTC performance during Asia–Europe trading overlaps and overnight sessions. The filing describes market‑making and custody measures to manage lower liquidity and arbitrage risks in after‑hours windows. Bloomberg ETF analyst Eric Balchunas highlighted the timing strategy amid a broader shift by issuers toward thematic and timing‑focused ETF products following major spot‑BTC ETF approvals. The filing appears while total Bitcoin ETF assets remain large (over $118B by SoSoValue) despite slowing inflows and recent price weakness; BTC was trading near $92,000 at reporting. For traders, the product could shift intraday liquidity and volatility patterns, create new arbitrage opportunities between spot markets and ETF NAVs, widen spreads during U.S. daytime, and prompt rotation into time‑specific ETF offerings. Monitor approval progress, designated trading windows, market‑maker and authorized‑participant rules, and how flows and spreads evolve if the ETF is launched.

Visa’s consumer survey finds AI and cryptocurrency are materially influencing holiday shopping habits in the U.S., driven largely by Gen Z. Key findings: 47% of U.S. shoppers used AI for at least one shopping task (gift discovery most common); 28% would accept crypto as a gift (45% among Gen Z); 44% of Gen Z have made purchases with cryptocurrency; 71% of Gen Z use biometric authentication; 36% of Gen Z prefer digital wallets over physical cards. Security and transparency remain concerns: 61% prefer human customer service, 60% want clearer data-use transparency from AI, and 66% worry about online scams. Visa also reports earlier shopping patterns and forecasts a 4.6% year-over-year rise in U.S. holiday spending. For traders, the survey signals rising consumer familiarity and potential demand tailwinds for crypto payments, stablecoin utility, wallets and payments infrastructure providers, while underscoring persistent trust and security issues that could slow adoption.

A prominent crypto investor known as Crypto X AiMan sold his entire Bitcoin (BTC) position and redeployed the proceeds into XRP, saying he is now 100% all‑in on the altcoin. AiMan cited legal clarity from the U.S. SEC vs. Ripple case — specifically the preservation of a 2023 judge ruling that XRP is not a security in itself — as removing a major regulatory overhang and enabling broader institutional use. He highlighted Ripple’s large XRP reserves (reported >40–45 billion XRP, roughly 40–45% of the 100 billion supply) and more than 300 banking and payments partnerships as drivers for XRP’s payments utility. AiMan contrasted BTC’s role as “digital gold” with XRP as a “digital dollar” designed for fast, low‑cost cross‑border payments and said XRP could benefit from ISO 20022 migration in 2026. He noted the vast cross‑border payments market (estimated up to $250 trillion) and argued that even capturing 1% would imply substantial upside versus Bitcoin’s market cap. He acknowledged the trade’s risk — XRP could fall to zero — framing the move as a high‑conviction, high‑risk allocation. The announcement prompted community reaction and some traders considered reallocations amid ongoing market volatility.

Bitcoin has been trading in a tight range between roughly $89,000 and $93,000 as buyers and sellers battle for control. On-chain data from Glassnode shows rising investor profitability (MVRV ~1.67) and higher trading volume (~$22.6B), but US spot ETF holders shifted from net buyers to large sellers (from $134.2M bought to $707.3M sold). Options markets show downside hedging — the 25-delta skew rose to 12.88%, indicating demand for protection. Momentum indicators point to improvement: the 14-day RSI climbed from 38.6 to 58.2 and supply in profit increased to about 67.3%. Short-term holder metrics (STH-SOPR up 18.5%, Hot Capital Share ~39.9%) suggest short-term holders are driving moves, though many STHs remain at a net loss relative to an average buy price near $109,000. Analysts note macro uncertainty and the key resistance near $94,000 as obstacles. Net takeaway for traders: early signs of recovery and rising momentum exist, but ETF distribution, options hedging and STH positioning keep sentiment cautious — a decisive break above the $94k–$100k area would be needed to shift conviction.

XRP has entered a consolidation phase, trading in a narrow range after failing to sustain recent gains. Technical indicators show mixed signals: short-term moving averages are flat, RSI is near neutral, and volume has declined—suggesting low conviction among traders. Key support sits around the recent swing low (near $0.XX) while immediate resistance is the recent local high (near $0.XX). Analysts warn that a decisive move above resistance could trigger a bullish breakout and renewed momentum, while a break below support may accelerate selling and target lower levels. Market participants are watching macro cues and broader crypto momentum; limited on-chain developments are noted. Traders are advised to monitor volume, RSI, and moving-average crossovers for confirmation and to manage risk with stops and position sizing.

A $10 million lawsuit filed by plaintiff Harro Moen alleges Pi Network orchestrated a long-running fraud that included an unauthorized April 10, 2024 transfer of 5,137 PI from his verified wallet, a secret dump of over 2 billion PI tokens, and delays in migrating user funds to mainnet. Moen seeks $10 million in damages and claims centralised control by the project’s operators via only three validator nodes, contradicting Pi’s decentralisation claims. The lawsuit and alleged token dump have coincided with a drop in PI price (~5%) and increasing investor concern. On-chain data cited shows average token unlocks of about 6.1 million PI per day and a 30-day unlock schedule that may pressure liquidity. Technical analysis notes PI sitting at the lower boundary of a two-month ascending triangle and the 0.5 Fib retracement; bullish indicators (RSI recovery, approaching MACD golden cross) could target a breakout to roughly $0.40 (about +8% from current levels), while a breakdown risks revisiting all-time lows near $0.15 (−30%) or falling to $0.075 (−65%) into a low-support gap. The article also mentions competing layer-2 projects (Bitcoin Hyper) as alternatives attracting capital. Key implications for traders: heightened legal and custodial risk, potential for increased volatility from large token unlocks and dumps, asymmetric downside if market confidence collapses, and possible short-term bounce if technical support holds.