Connect with us

Coin Market

3 Bitcoin trading behaviors hint that BTC’s rebound to $24K is a ‘fakeout’

Published

on

BTC price surged above a key resistance cluster, but its market structure and technical analysis suggest the move is just another trap.

Continue Reading
Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

Coin Market

Zerebro dev is reportedly alive and at parents’ house: SF Standard

Published

on

By

The 22-year-old developer of Zerebro, who apparently committed suicide during a livestream on May 4, is actually alive, according to a San Francisco news outlet that claims they spoke to Yu outside his family home. 

The San Francisco Standard reporter George Kelly claimed on May 8 that he briefly spoke with Yu outside of his family’s two-story home, where the crypto influencer refused to discuss the suicide allegations and whether he had financially benefited from it. 

Instead, Yu reportedly said: “You can see the PTSD in my eyes, right?” before asking the reporter to leave.

He was reportedly wearing a T-shirt, shorts, flip-flops and wire-rimmed glasses, possibly similar to the ones he had on while appearing to shoot himself to death during the livestream.

Jeffy Yu speaking about the future of crypto AI agents in a January 2025 podcast on Bankless. Source: Bankless

The SFS didn’t share an image of Yu outside his family’s house. 

Many initially believed that Yu’s suicide was legitimate after reports of the incident emerged on May 4. But several pieces of information that began circulating on X two days later led some to conclude his suicide attempt was faked. 

One piece of evidence was an unverified letter purportedly sent by Yu to an investor confirming that he hadn’t died; another included transfers from several crypto wallets owned by Yu after the alleged incident and the removal of his obituary from the memorial site Legacy.com.

Wallets tied to Yu have moved $1.5M since the suicide incident

According to blockchain analytics firm Bubblemaps, wallets tied to Yu have offloaded around $1.5 million worth of the Zerebro (ZEREBRO) tokens since the suicide incident, strengthening the SFS’ report that Yu is still alive.

Some of those funds have been transferred to the same wallet address Yu used to create the so-called “Legacy Memecoin” — Legacoin (LLJEFFY) — Bubblemaps noted.

Related: Doodles NFT sales surge 97% ahead of DOOD token airdrop

Yu’s AI-powered, content-focused Zerebro platform burst onto the scene in late 2024, with the ZEREBRO token soaring to a near $660 million market cap on Jan. 3 before tanking below $20 million around three months later, CoinGecko data shows.

ZEREBRO currently boasts a $47.2 million valuation, while several LLJEFFY tokens have notched multimillion-dollar valuations across different blockchain networks.

Yu’s PTSD claims reflect a concerning industry trend of harassment, violence

The PTSD comment that Yu made to the SFS reporter appears to be related to the constant harassment, blackmail and threats that he talked about in his apparent letter sent to the Zerebro investor.

He claimed that with his house address publicly known, he’s been in constant fear of robbery and physical harm — an unfortunate trend that has escalated in the crypto space in recent months.

There have been more than 150 crypto-related physical attacks since 2014, according to a GitHub list tracked by Bitcoin cypherpunk Jameson Lopp. 

Forty-six of those reported incidents have occurred over the last 12 months alone. 

Magazine: ChatGPT a ‘schizophrenia-seeking missile,’ AI scientists prep for 50% deaths:

Continue Reading

Coin Market

Apple makes progress toward its first pair of smart glasses: Report

Published

on

By

Apple is reportedly working on its own microchips across multiple product categories, including smart glasses and artificial intelligence — a hint at what’s next for the massive Silicon Valley-based tech giant.

A May 8 report from Bloomberg, citing people familiar with the matter, said the company is working on new processors to power its future devices, including its first smart glasses to rival Meta’s Ray-Bans, more powerful Macs, and artificial intelligence servers.

The smart glasses — a first for Apple — would rely on a specialized chip codenamed N401. The processor is based on Apple Watch chips but is further optimized for power efficiency and designed to control multiple cameras planned for the glasses, the sources said. 

Apple’s smart glasses will initially be non-augmented reality versions that will include cameras, microphones and integrated AI, much like rival offerings from Meta. They would presumably have similar functions like snapping photos, recording video and offering translation options, the report added. 

The product may also integrate a visual intelligence feature for scanning the environment and describing objects, looking up information about products and providing directions.

Mass production targeted for late 2026 or 2027, suggesting a product launch within approximately two years, they added.  

Apple is targeting rival Meta’s smart Ray-Bans. Source: Ray-Ban

The Bloomberg sources added that other semiconductors were also developing chips to power future Macs and AI servers that can power the firm’s “Apple Intelligence” platform.

Related: Apple softens crypto-related app rules, ‘hugely bullish’ for crypto industry

Meanwhile, MacRumors reported that chips codenamed “Komodo” will likely be M6 chips that will follow this year’s M5 chips, while chips codenamed “Borneo” will be Apple’s future M7 processors with another more advanced chip that will debut in the future codenamed “Sotra.”

Dedicated Apple AI chips 

Apple is also working on its first dedicated AI server chips in a project codenamed “Baltra” to power its Apple Intelligence platform, according to Bloomberg. 

The firm’s Baltra chips could have up to eight times the processing and graphics cores of the current M3 Ultra chips, the report added. Apple has targeted completion by 2027 to make its AI services faster and more competitive. 

In late April, it was reported that Chinese tech giant Huawei has developed a powerful AI chip that could rival high-end processors from US chip maker Nvidia.

Magazine: Bitcoin to $1M ‘by 2029,’ CIA tips its hat to Bitcoin: Hodler’s Digest

Continue Reading

Coin Market

Bitcoin at $103K hurtles MARA stack toward $5B, holdings triple

Published

on

By

Bitcoin mining firm MARA Holdings (MARA) nearly tripled its Bitcoin holdings over 12 months, according to its newly released Q1 results.

However, its Bitcoin production fell, and total earnings slightly missed Wall Street estimates in Q1.

MARA, formerly Marathon Digital, saw its Bitcoin (BTC) holdings increase to 47,531 BTC, up 175% from the 17,320 BTC the firm was holding at the end of Q1 2024.

MARA holdings inch closer to $5B after Bitcoin pump

MARA holds the second-largest amount of Bitcoin among all publicly traded companies, according to CoinGecko data. Strategy (MSTR) holds the number one spot with 555,450 Bitcoin.

The holdings represent a total value of approximately $4.9 billion, based on Bitcoin’s current price of $102,660 at the time of publication, according to CoinMarketCap data. Over the past 24 hours, Bitcoin’s price spiked 4.86%.

Bitcoin is trading at $102,660 at the time of publication. Source: CoinMarketCap

However, the amount of Bitcoin that MARA produced over the quarter fell 19% compared to the same quarter in 2024 to 2,286 Bitcoin. 

MARA attributed this to the last Bitcoin halving event, which reduced mining rewards to 3.125 BTC per block and tightened overall supply.

MARA fell short of analyst revenue expectations by 0.35%, according to Zacks Research. The analysts pointed out that MARA has only surpassed consensus revenue estimates once in the past four quarters.

MARA is trading at $14.20 at the time of publication. Source: Google Finance

Despite this, MARA’s stock price jumped 7.2% during trading on May 8 but has since pulled back nearly 2% in after-hours trading, according to data from Google Finance.

Bitcoin mining firms share same frustrations

Bitcoin miner Riot Platforms echoed similar difficulties in their recent Q1 financial report

Riot said that the average cost to mine Bitcoin over the quarter was $43,808, almost 90% more than the $23,034 it cost to mine Bitcoin in the same period last year. However, Riot beat its $159.8 million revenue consensus estimate by 1%.

Related: Bitcoin miner Hive taps Paraguay for low-cost energy partnership

Several other Bitcoin mining firms also fell short of Wall Street’s revenue expectations.

Bitcoin miner CleanSpark missed consensus estimates by 0.58%, reporting quarterly revenue of $181.71 million.

Bitcoin miner Core Scientific also fell short of analyst expectations with total Q1 revenue reaching $79.5 million, missing Zacks analysts’ estimates by 8.11% and falling from its $179.3 million revenue for Q1 2024. 

Meanwhile, Bitcoin miner Hut8 reported the widest miss among Bitcoin mining firms, falling 35% short of Wall Street expectations.

Zacks Research had projected Hut8 to post first-quarter revenue of $35 million, but Hut8 came in significantly lower at just $21 million.

Magazine: ChatGPT a ‘schizophrenia-seeking missile,’ AI scientists prep for 50% deaths: AI Eye

This article does not contain investment advice or recommendations. Every investment and trading move involves risk, and readers should conduct their own research when making a decision.

Continue Reading

Trending