As CERN scientists transform lead into gold, questions over the long-term value of the precious metal are dotting the financial markets. CNBC crypto trader Ran Neuner argues that Bitcoin will be the winner over bullion in the race to become the ultimate safe-haven asset. Bitcoin To Dominate As CERN Experiment Threatens Gold Scarcity CNBC crypto trader Ran Neuner has pitched his tent with Bitcoin after scientists transformed worthless lead into gold. According to an X post, the Crypto Banter founder noted that the experiment will negatively affect the value of gold and its scarce value. Last week, scientists used CERN’s Large Hadron Collider to knock out protons from lead atoms, converting them into gold. Still far from commercial use, the possibilities of lab-grown gold have triggered diverse reactions in finance, stoking fresh comparisons with Bitcoin. “This is really bad for gold,” said Neuman. “Scientists can literally recreate gold in a… Read More at Coingape.com
ChatGPT users have raised an alarm over a lengthy network outage for the artificial intelligence (AI) chatbot. The downtime offers a glimpse into the future without AI tools amid skyrocketing dependence and adoption levels as OpenAI pushes for a quick fix. ChatGPT Hit By Massive Downtime, Sparking Unease For Users OpenAI’s ChatGPT is facing a
A Bitcoin investor recently unlocked a fortune after redeeming a physical Casascius bar he bought in 2012 — but not without a costly mistake.
Known as “JohnGalt” on Bitcointalk, the early adopter revealed he had been holding a 100 BTC Casascius bar for over 13 years. He purchased it for just $500 when Bitcoin was trading at $5.
Pressure of Physically Holding $10 Million Bitcoin
JohnGalt shared technical details of the process with the forum. He initially tried using Electrum on Android to sweep the funds but ran into compatibility issues with mini private keys.
Eventually, he turned to bitaddress.org to convert the mini key into a usable format. He created new wallets with Trezor Suite and manually sent the BTC to secure addresses.
He confirmed the funds had safely moved before publicly revealing the bar’s redemption.
A Costly Oversight: Bitcoin Cash Claimed by Stranger
In a crucial misstep, JohnGalt posted a photo of the Casascius key online without first claiming Bitcoin Cash (BCH) — a major fork of Bitcoin.
Because BCH uses the same private key system, someone watching the forum thread swept the BCH just nine minutes after the post. He estimated the lost BCH to be worth over $40,000.
The crypto community responded with a mix of admiration and sympathy. Many praised his nerves, calling him a legend for holding through 13 volatile years.
Others shared fears over physical coin storage risks — including fire damage, adhesive failure, and floods — that could destroy tamper-evident holograms or keys.
Several users noted the emotional and logistical weight of holding unredeemed coins, echoing the anxiety of storing physical assets worth millions.
Despite redeeming the BTC, JohnGalt confirmed he won’t sell the now-empty bar — which remains a valuable piece of early Bitcoin history.
A massive scandal has shaken the crypto world, and it’s all about the MOVE token. What was supposed to be a successful launch for MOVE ended in disaster, causing its price to drop to an all-time low of $0.219. Behind this sudden collapse lies a financial deal that was supposed to boost the token’s success but instead led to market manipulation and shady tactics.
Who’s really behind this crypto chaos, and how did it all go so wrong? Let’s break down the details.
Deceptive Deal Leads to a Price Collapse
The Movement Foundation, behind the launch of MOVE, is now under investigation for signing a deal that gave a single entity disproportionate control over the token market. The agreement granted Web3Port, a Chinese market maker with ties to Donald Trump-affiliated World Liberty Financial, significant leverage.
This resulted in the sale of 66 million MOVE tokens just one day after their debut in December. The massive token dump triggered a sharp price drop and sparked allegations of insider trading.
Rentech: The Middleman at the Center of the Scandal
Internal messages from Movement’s co-founder, Cooper Scanlon, revealed that they were deceived into working with a middleman named Rentech. Initially believed to be a subsidiary of Web3Port, Rentech turned out to be a separate entity that facilitated this market manipulation.
The deal allowed Rentech to borrow up to 5% of MOVE’s total supply, giving them significant control over the token’s price, raising red flags about potential price manipulation.
Incentives for Price Manipulation
The market-making agreements involved unusual provisions, such as one that incentivized Rentech to artificially push the price of MOVE token over $5 billion in value. This setup would have allowed them to profit from a sharp price rise and then sell off their tokens, benefiting from the inflated price.
Industry experts, including crypto founder Zaki Manian, called this structure “dangerous” and unethical, accusing the deal of encouraging price manipulation.
Internal Conflicts and Investigation
Movement is also facing internal tensions. Allegations have surfaced about co-founder Rushi Manche’s involvement in pushing for the deal, with some suggesting that conflicts of interest played a role.
The company is now investigating these claims and working to hold those responsible accountable.
Binance Steps In
As a result of the token dump, Binance, one of the largest crypto exchanges, banned the market-making account tied to Rentech. In response, Movement Foundation launched a token buyback initiative to stabilize the price and regain investor trust.
Despite the negative press and the fallout from the price crash, Movement Labs has promised to investigate the circumstances surrounding the deal and ensure accountability.
The post MOVE Token Scandal News: Who & How Market Manipulation Led to Massive Price Drop appeared first on Coinpedia Fintech News
A massive scandal has shaken the crypto world, and it’s all about the MOVE token. What was supposed to be a successful launch for MOVE ended in disaster, causing its price to drop to an all-time low of $0.219. Behind this sudden collapse lies a financial deal that was supposed to boost the token’s success …
