Elon Musk has commented on the recent X outage. Social media users complained of ‘Twitter down’ following another uptime issue. The world’s richest man revealed the cause of this outage and has affirmed his commitment to fixing these issues. Twitter Down: Elon Musk Breaks Silence On X Outage In an X post, Elon Musk revealed that the recurrent X outage issues resulted from a failover redundancy that should have worked but did not. He noted that they need to make major operational improvements, which have become evident with the uptime issues that users faced this week. Musk mentioned that he must be “super focused” on X/xAI alongside his other ventures. The world’s richest man also remarked that he is “back to spending 24/7 at work and sleeping in conference/server/factory rooms,” indicating that he will be taking a step back from his role at DOGE and focusing on his businesses. As… Read More at Coingape.com
ZachXBT’s investigation claims that the mysterious 50X Hyperliquid whale is actually a British cyber criminal named William Parker (formerly known as Alistair Packover). Parker has a long history of fraud, hacking, and casino theft.
This trader made headlines by profiting roughly $20 million from a series of highly leveraged trades
Who is William Parker, AKA the 50X Hyperliquid Whale?
William Parker is a British cyber criminal with a long track record in hacking and fraud.
“I tracked down a recent payment from 0xe4d3 to an unnamed person who confirmed they had been paid by the Hyperliquid trader. They provided a UK phone number used to communicate with them. Public record reveals the name William Parker is likely tied to this number,” wrote ZachXBT.
He was arrested in 2023 for allegedly stealing around $1 million from two casinos. Even after serving time, Parker continued his illicit activities.
William Parker, AKA Alistair Packover. Source: BBC
So, how did he actually make $20 million in a very short time? The answer is ‘using leverage’.
Understanding 50x Hyperliquid Trades
In crypto, leverage means borrowing funds to increase the size of your trading position. In this case, the whale used up to 50× leverage. This means that even a small favorable move in an asset’s price could multiply his profits many times over.
For example, if he had a 50× leveraged position and the price moved 2% in his favor, that 2% swing could translate into about a 100% gain on his original investment.
“A whale who opened a $450 million short position on btc with 40x leverage closed all their trades, making a $9.46M profit in 8 days. Although this person is referred to as a “Hyperliquid whale,” they are actually a criminal, gambling with stolen funds,” wrote Web3 attorney Langerius.
The trader, William Parker, as revealed by ZachXBT, opened very large positions in cryptocurrencies like Bitcoin and Ether during volatile market moments.
He timed his trades when the market was moving rapidly earlier this month due to the whole White House Crypto Summit and Bitcoin reserve saga.
The volatile market sentiment allowed him to move around big events or sudden price changes.
“When a whale shorts over $450 million in BTC and wants a public audience, it’s only possible on Hyperliquid. Anyone can photoshop a PNL screenshot. No one can question a Hyperliquid position, just like no one can question a Bitcoin balance. The decentralized future is here,” Hyperliquid wrote on X (formerly Twitter).
How Did Parker’s Leveraged Trades Affect the Market?
In some cases, his massive trades also forced other traders into liquidation. When a trader’s position is liquidated, the system sells its assets at a loss to cover the borrowed funds.
This boosted the whale’s gains and also disrupted the market. Although using 50× leverage is extremely risky, Parker managed his trades carefully.
His strategy was successful enough that he reportedly made around $20 million from these high-stakes moves.
Bitcoin Pizza Day is a historic event, remembering the first-ever commercial transaction of BTC. Every year, crypto enthusiasts celebrate this day as a festival and recall programmer Laszlo Hanyecz for his contribution to revealing how Bitcoin is much more than internet money. Interestingly, the day gets more special as, along with accomplishments, people joke about the fact that Hanyecz spent 10,000 BTC on two pizzas. The fact that the price was so low back then makes people wish to revisit the time and buy a bunch, as the Bitcoin price hit a new ATH today at $111.8k. So, the two pizzas cost 10,000 BTC ($41), but the same 10,000 BTC are worth $1.1 billion today, per CoinMarketCap. 5 Funniest Bitcoin Pizza Day Memes Today, May 22, 2025, marks the 15th Bitcoin Pizza Day anniversary, so let’s discuss the funniest memes of all time, based on these. Starting with the pun… Read More at Coingape.com
Big news coming out of the SEC vs. Ripple case—it’s officially over! Last week, the SEC dropped its appeal, and now a final resolution has been reached. Ripple will pay a $50 million fine and it has also agreed to drop its cross-appeal, and the judge’s earlier injunction will be lifted.
Ripple’s Chief Legal Officer, Stuart Alderoty, shared the following update: Last week, the SEC agreed to drop its appeal without conditions. Ripple has now agreed to drop its cross-appeal. The SEC will keep $50M of the $125M fine (already in an interest-bearing escrow in cash), with the balance returned to Ripple.”
“The agency will also ask the Court to lift the standard injunction that was imposed earlier at the SEC’s request. All subject to Commission vote, drafting of final documents and usual court processes,” he added.
While this marks a legal victory for Ripple, the XRP price has failed to react to the news. Despite the settlement and legal win, XRP remains stuck below the $2.50 mark.
XRP Price Analysis: Rally When?
Looking at XRP’s price action, the chart still shows signs of a larger bearish divergence. On the 3-day time frame, this divergence remains active, hinting at a lack of strong momentum either way.
The price is mostly bouncing sideways, trading between key support and resistance levels. According to analyst Josh of Crypto World, in the short term, XRP is bouncing between support levels ranging from $2.24 to $2.30 and $1.95 to $2.05, with recent support found at $2.36. As for resistance, the price faces short-term resistance at $2.56, with higher resistance levels between $2.65 to $2.80, and around $3.
Crypto analyst Steph is Crypto also shared a chart showing a very bullish future for XRP– a breakout from a multi-year bull flag pattern.
I don’t even want to give you this #XRP price target
At the moment, XRP’s price is lacking momentum in either direction. It’s neither overly bullish nor bearish and remains relatively neutral in the short term.
The post Ripple Settles, XRP Slumps: Price Fails To Capture $2.50 Despite Legal Win appeared first on Coinpedia Fintech News
Big news coming out of the SEC vs. Ripple case—it’s officially over! Last week, the SEC dropped its appeal, and now a final resolution has been reached. Ripple will pay a $50 million fine and it has also agreed to drop its cross-appeal, and the judge’s earlier injunction will be lifted. Ripple’s Chief Legal Officer, …
