Nexo has officially reentered the U.S. market, offering high-yield crypto savings accounts, asset-backed credit lines, and trading and liquidity services for both retail and institutional clients. The announcement was made at a special business event, attended by figures such as Donald Trump Jr. This comes after Nexo’s partial exit in late 2022, when it stopped providing its Earn Interest product in eight states and halted new user registrations across the U.S.
Veer Chetal, one of three men who stole $245 million in Bitcoin last year, just pleaded guilty to fraud and money laundering charges. He agreed to testify against his co-conspirators as part of the deal.
Chetal now faces 19 to 24 years in prison, and his parents may be deported from the US. Although he ran a competent scam, his subsequent actions repeatedly damaged his fortunes.
Last year, Veer Chetal, a teenager from Connecticut, stole $245 million in Bitcoin with the help of two accomplices. Shortly after, kidnappers abducted his parents in an attempt to steal these ill-gotten gains.
Now that Chetal has pleaded guilty to the Bitcoin theft, several relevant court documents have been unsealed. This is making more of the full picture come to light.
It seems that the six kidnappers had nothing to do with the initial theft, either as accomplices or perpetrators. The kidnappers assaulted Chetal’s parents, but the extortion proved unsuccessful.
ZachXBT, the prominent crypto sleuth, initially spearheaded the investigation of Chetal’s Bitcoin theft. He referred to the theft as a “highly sophisticated social engineering attack.”
However, he also noted that poor operational security allowed him to find the culprits’ identities. Now that Chetal is practically guaranteed to see prison time, the sleuth indulged in a little gloating:
“I win it all” – Veer Chetal
>gets all funds seized two weeks after theft >parents kidnapped >loses plea deal >parents lose job and risk being deported to India >now faces many years via RICO charges https://t.co/Kj2I7hq19qpic.twitter.com/dCPjEJLw5G
According to the unsealed documents, Chetal participated in around 50 similar crimes before his big Bitcoin theft, which netted him around $3 million.
His current plea deal will likely include over a decade in prison after he tried to participate in another scam while out on bail. Chetal’s Indian-born parents also face deportation from the US, as his father lost his job following the kidnapping.
The listing news sent LPT’s daily trading volume soaring to over $4 billion on May 30—more than 10 times the previous average. This marked its highest daily volume so far this year.
At the time of writing, LPT’s trading volume still exceeds $1 billion. According to CoinMarketCap, it has surpassed Virtual Protocol to become the highest-volume AI token on the market, which indicates strong interest from traders.
However, LPT’s price has since dropped sharply, down 40% from its $14.30 peak to around $8.50. This suggests that the surge in volume, paired with the price drop, may reflect profit-taking activity.
It also implies that investor expectations could be short-term.
At press time, LPT was trading at $8.51, up over 10% in the past 24 hours.
Whales have taken advantage of increased liquidity and price gains to realize profits. On-chain data today shows that a whale withdrew 526,000 LPT (worth $4.81 million) from LPT’s PoS staking contract and transferred the funds to Binance.
Although selling pressure is mounting, some technical analysts believe the price could rebound from the $7 region.
Technical analysis and LPT price prediction. Source: Muneeb on X
“LPT eyes on this one, should hold the green zone for a potential bounce to yearly open 14.5$,” crypto analyst Muneeb predicted.
Livepeer Faces Challenges as AI Tokens Struggle to Recover
Livepeer has a clear mission: to revolutionize video infrastructure by leveraging AI. Its real-time video processing capabilities and a decentralized approach to GPU usage place it at the forefront of innovation.
Launched in 2021, Livepeer raised $51.8 million—well before the current AI boom. In 2025, the project is returning with renewed momentum, fueled by exchange listings and increasing attention from funds interested in AI technology.
“Livepeer is building the open video infrastructure for the AI era. Real-time AI video processing, decentralized GPUs, and a permissionless network powering new creative and technical frontiers,” the project states.
But this renewed spotlight also brings challenges. Despite the recent gains, LPT faces headwinds as the broader AI crypto sector has declined by over 45% year-to-date. This downturn highlights the volatile nature of the market and the risks associated with investing in AI-related cryptocurrencies.
Performance of crypto sectors year-to-date. Source: Artemis
Listing on exchanges and inclusion in key indices may bring short-term attention. However, Livepeer must overcome current market challenges and prove real-world use cases beyond the crypto ecosystem for sustainable growth.
Onyxcoin (XCN) is down nearly 10% over the past seven days, cooling off after a sharp 200% rally between April 9 and April 11. Momentum indicators suggest that the bullish trend may be losing strength, with both the RSI and ADX showing signs of fading conviction.
While XCN’s EMA lines remain in a bullish formation, early signs of a potential reversal are emerging as short-term averages begin to slope downward. The coming days will be key in determining whether Onyxcoin can stabilize and resume its climb—or if a deeper correction is on the horizon.
Onyxcoin Shows Early Signs of Stabilization, but Momentum Remains Uncertain
Onyxcoin’s Relative Strength Index (RSI) is currently sitting at 43. Readings above 70 typically indicate that an asset is overbought and could be due for a pullback, while readings below 30 suggest it may be oversold and poised for a potential rebound.
XCN’s RSI signals a neutral state but shows signs of gradual recovery. While not yet a clear bullish signal, yesterday’s upward move suggests that bearish momentum may be easing.
For now, XCN appears to be in a wait-and-see phase, where a continued climb in RSI could signal a shift toward renewed upside, but any further weakness might keep the price trapped in a consolidation range.
XCN Uptrend Weakens as ADX Signals Fading Momentum
Onyxcoin’s Average Directional Index (ADX) has declined to 11, down from 13.92 yesterday and 15.26 two days ago. This decline reflects a consistent weakening in trend strength.
The ADX is a key component of the Directional Movement Index (DMI) and is used to measure the strength—not the direction—of a trend on a scale from 0 to 100.
Values below 20 typically suggest that the market is trending weakly or not at all, while readings above 25 confirm a strong and established trend.
With the ADX now at 11, Onyxcoin’s trend is losing momentum, even though it technically remains in an uptrend. This low reading suggests the current bullish phase is fragile and may lack the conviction needed for sustained upward movement.
Combined with EMA lines that are beginning to flatten, the weakening ADX adds weight to the possibility that the trend could soon shift or stall.
If no surge in buying pressure emerges to reinforce the uptrend, XCN may enter a period of sideways movement or even a reversal in the short term.
Onyxcoin at a Crossroads as EMA Lines Hint at Possible Trend Reversal
XCN EMA lines remain bullish for now, with short-term averages still positioned above long-term ones.
However, the short-term EMAs have started to slope downward, raising the possibility of a looming death cross—a bearish crossover in which the short-term average falls below the long-term average.
If this crossover materializes, it would signal a shift in trend direction and could trigger a deeper pullback, after a 200% rally between April 9 and April 11, making it one of the best-performing altcoins of the previous weeks.
Key support levels to watch are $0.016, followed by $0.0139 and $0.0123. If bearish momentum accelerates, XCN could drop as low as $0.0109, marking a potential 38% correction from current levels.
