The crypto market remained on edge on Friday after the U.S. released the Federal Reserve’s preferred inflation metric. Bitcoin (BTC) price dropped below $85,000, while popular tokens like Shiba Inu (SHIB), Dogecoin (DOGE), and Cardano (ADA) fell by over 3%.…

Here’s why BTC, SHIB, DOGE, ADA prices slipped after U.S. PCE data

Data shows the Bitcoin Fear &amp; Greed Index has remained outside the extreme 
greed zone even after the price surge above $104,000. Bitcoin Fear &amp; Greed 
Index Is Still Inside Greed Territory The &#8220;Fear &amp; Greed Index&#8221; refers to an 
indicator created by Alternative that tells us about the average sentiment 
present among the investors in the Bitcoin and wider cryptocurrency markets. 
Related Reading: New Bitcoin Whales Sitting On 185% Higher Cost Basis Than 
HODLer Whales, Data Shows The metric makes use of the data of the following 
five factors to determine the trader mentality: trading volume, volatility, 
market cap dominance, social media sentiment, and Google Trends. To represent 
the market sentiment, the index uses a numeric scale running from zero to 
hundred. All values under 47 suggest the dominance of fear in the market, 
while those above 53 imply that of greed. Values lying between these cutoffs 
correspond to a net neutral mentality. Besides these three main sentiments, 
there are also two special regions known as the extreme greed and extreme 
fear. The former occurs above a value of 75, while the latter below 26. Now, 
here is how the latest value of the Bitcoin Fear &amp; Greed Index is like: As is 
visible above, the Bitcoin Fear &amp; Greed Index has a value of 70 at the moment, 
which suggests the investors as a whole share a sentiment of greed. This 
greedy mentality is also decently strong, as it&#8217;s only a few units away from 
the extreme greed territory. Earlier in the month, the trader mentality 
declined to a neutral level as the price surge took a pause, but with the 
latest continuation to the rally, the market mood has improved once more. 
Interestingly, though, despite Bitcoin approaching its all-time high (ATH), 
the investors have still not become extremely greedy. If history is to go by, 
this could actually play into the favor of the asset&#8217;s price. The reason 
behind this is that the cryptocurrency has often tended to move in a direction 
that&#8217;s opposite to the crowd opinion. The probability of such a contrary move 
taking place has only gone up the more sure the investors become of a 
direction, so the extreme zones, where sentiment is the strongest, is where 
major tops and bottoms have formed. Related Reading: Bitcoin Derivatives In 
The Driver’s Seat For $100,000 Rally, Data Shows The Fear &amp; Greed Index still 
staying out of the extreme greed region could be an indication that an excess 
of hype hasn&#8217;t developed among the investors just yet, so Bitcoin could 
potentially have more room to run before a top. BTC Price Bitcoin briefly 
managed to cross beyond the $105,000 level earlier, but it seems the coin has 
seen a small pullback since then as its price is now back at $103,000. 
Featured image from Dall-E, Alternative.me, chart from TradingView.com

Bitcoin Near ATH, But Still No Extreme Greed: Green Sign For Bull Run?

The Brave browser has a built-in multi-chain crypto wallet that supports major 
cryptocurrencies such as bitcoin, ether, and solana. Brave Browser to 
Integrate Cardano The privacy-focused Brave web browser will soon integrate 
with the Cardano blockchain, according to a press release published on Monday. 
Cardano’s cryptocurrency ADA, a nod to English mathematician Ada Lovelace, 
currently […]

Cardano Coming to Brave: Browser Adds ADA Support

Australia&#8217;s crypto industry has expressed positivity after the recently 
reelected government named pro-crypto politician Andrew Charlton as assistant 
minister for the digital economy, artificial intelligence and other emerging 
technologies.
Prime Minister Anthony Albanese told reporters in Canberra during a May 12 
press conference that Charlton would be the new assistant minister for 
science, technology and the digital economy, working with Tim Ayres, the 
minister for industry and innovation.
Ayres and Charlton will administer policies and programs promoting 
advancements in emerging technologies, science, technology, innovation and the 
digital economy, according to Albanese.
Charlton has shown strong support for the industry in the past. During a 
speech to parliament last November, he pushed for a balanced regulatory 
framework that encouraged industry growth.
&gt; Cryptocurrency is shaping the future of finance. Governments must support a 
&gt; balanced framework that encourages growth while ensuring security and trust. 
&gt; Let&#8217;s embrace the opportunities of a digital economy! #Cryptocurrency 
&gt; #Innovation @DECAustralia pic.twitter.com/av8L2DA72g 
&gt; 
&gt; &#8212; Andrew Charlton (@Charlton_AB) November 27, 2024
Speaking to Cointelegraph, Jason Titman, CEO of Australian crypto exchange 
Swyftx, said Charlton&#8217;s appointment is &#8220;unequivocally good news for crypto in 
Australia,&#8221; and he expects the &#8220;blockchain industry is cheering.&#8221;
&#8220;Andrew has a deep understanding of blockchain, coupled with a genuine belief 
in its potential to support the Australian economy,&#8221; Titman said.
Along with the new assistant treasurer, Daniel Mulino, Titman says he hopes 
Charlton &#8221; fast tracks legislation around digital assets,&#8221; because the 
industry has been waiting for &#8220;six or seven years for legislative clarity.&#8221;
## Australian crypto industry continues to grow
Vakul Talwar, head of the Australian arm of crypto exchange Crypto.com, said 
in a statement sent to Cointelegraph that Charlton&#8217;s appointment is a sign of 
the growing importance of the digital economy.
Since the previous election in 2022, Talwar says the &#8220;industry has grown 
significantly,&#8221; and it&#8217;s important in the current term of Parliament to 
&#8220;ensure that as the digital economy continues to merge its way into 
traditional finance, appropriate regulations are in place.&#8221;
Around 31% of Australian adults own or have owned crypto, which is roughly 6.2 
million people, April 4 data from crypto exchange Independent Reserve shows, 
up from 28% last year.
_Roughly 6.2 million out of Australia&#8217;s more than 26 million population have 
owned or still own crypto. Source:__Independent Reserve_ 
Edward Carroll, head of global markets and corporate finance at Australian 
crypto platform MHC Digital Group, said that Charlton has long recognized the 
importance of fostering a constructive and innovative financial ecosystem.
&#8220;His specific support for digital assets and recognition of blockchain 
technology&#8217;s transformative potential, alongside the need to regulate it 
quickly and appropriately, should help Australia keep pace with the rapidly 
evolving global regulatory landscape,&#8221; Carroll said.
At the same time, Damian Kassabgi, CEO of industry advocacy group Tech Council 
of Australia, said in a May 12 statement that the addition of &#8220;digital 
economy&#8221; to the ministry position is a &#8220;strong signal of the Government&#8217;s 
commitment to this critical area of future growth for jobs.&#8221;
_**Related:**__**Industry calls for urgent crypto law reforms after Australian 
election**_
The reelected center-left Labor Party proposed a new crypto framework on March 
21, regulating exchanges under existing financial services laws and has 
promised to tackle debanking.
Meanwhile, in August 2022, it also initiated a series of industry 
consultations to draft a crypto regulatory framework.
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Crypto execs cheer as Australia appoints pro-crypto assistant minister

The lawyer for a group of Caitlyn Jenner memecoin buyers said they will 
continue their legal fight against the ex-Olympian after a judge threw out the 
case for failing to adequately support the securities and fraud claims it 
brought.
Jenner had escaped a class-action lawsuit from buyers of her self-titled 
memecoin, Caitlyn Jenner (JENNER) after California District Court Judge 
Stanley Blumenfeld Jr. said in a motion filed on May 9 that it was &#8220;sufficient 
to conclude that all nine causes of action are deficient&#8221; and sided with 
Jenner in dismissing the suit in its entirety for failure to state a claim.
He allowed the class group to amend its suit, which must be filed by May 23, 
but warned it had &#8220;to be more focused and judiciously pleaded&#8221; than the 
original.
A lawyer for the class group, Fitzgerald Monroe Flynn PC partner Jack 
Fitzgerald, told Cointelegraph it was &#8220;pleased the Court recognized we may be 
able to state some claims against the defendants, and intend to amend and 
press forward with the case.&#8221;
Jenner and her manager, Sophia Hutchins, were sued in November by a group that 
bought the JENNER token and accused them of having &#8220;fraudulently solicited 
financially unsophisticated investors&#8221; to the token, which they alleged was an 
unregistered security.
Lee Greenfield, a UK citizen, was added as the lead plaintiff in January and 
claimed he lost over $40,000 buying JENNER. But the court found, for a start, 
that claims of securities law violations couldn&#8217;t stand as it wasn&#8217;t alleged 
that his JENNER buys took place in the US, as the law requires, and gave 
&#8220;scant details&#8221; about the purchases.
_The court didn &#8216;t allow the class to swap its lead for a US-based member, 
adding it must report by May 16 on how the suit will proceed (highlights added 
for emphasis). Source: PACER_
## Court dismisses all claims by JENNER tokenholders
In all, Judge Blumenfeld dismissed a further eight claims the class group 
brought in an amended complaint filed in February, which included accusations 
that Jenner and Hutchins either made misleading statements, sold unregistered 
securities, or committed various fraud.
Judge Blumenfeld said the suit failed to allege that Jenner sold the token 
through a prospectus that contained an untrue statement, as &#8220;Greenfield admits 
that the $JENNER tokens were not sold through a prospectus.&#8221;
The court also tossed a common-law fraud accusation, saying the complaint 
alleged omitted information and noted various X posts by Jenner &#8220;stating that 
she would continue to support the tokens,&#8221; but it did not identify which of 
the statements related to the fraud claim.
The group also accused Hutchins of aiding and abetting Jenner&#8217;s allegedly 
fraudulent conduct, but Judge Blumenfeld said that claim failed as the 
complaint &#8220;does not adequately allege any viable fraud claim.&#8221;
In a footnote, Judge Blumenfeld said Jenner and the class group disputed 
whether the JENNER token was a security, but he was not going to decide at 
this stage as the &#8220;securities claims fail on other grounds.&#8221;
_**Related:**__**Top TRUMP whales hold $174M in tokens ahead of dinner with US 
president**_
&#8220;Because the determination of whether the tokens are securities is fact- 
dependent and may be affected by an amended pleading, the Court declines to 
resolve that issue at this stage and instead assumes without deciding that the 
tokens are securities subject to the federal securities laws,&#8221; he wrote.
JENNER first launched in May 2024 via Pump.fun on the Solana blockchain but 
was soon embroiled in controversy after Jenner and other memecoin launching 
celebrities claimed collaborator Sahil Arora scammed them.
Jenner relaunched the token on Ethereum, which the class group claimed tanked 
the value of the original Solana token, but gave Jenner the benefit of 
collecting a 3% fee on every transaction.
JENNER has lost essentially all its value since launch. CoinGecko shows its 
market value has crashed to around $58,775 from a June 3 peak of nearly $7.5 
million. The token has seen just $61.10 worth of trading volume over the last 
day.
_**Magazine:**__**Memecoins are ded &#8212; But Solana &#8216;100x better&#8217; despite 
revenue plunge**_ _** **_

Caitlyn Jenner memecoin buyers to regroup after judge tosses suit

A British High Court has issued a restraining order against computer scientist 
Craig Wright, preventing him from filing further defamation suits.
In a May 12 judgment, High Court Judge Edward Mellor said Wright&#8217;s repeated 
false claims and aggressive legal actions created legal &#8220;hell&#8221; for individuals 
and developers in the Bitcoin (BTC) community, adding that Wright sought to 
&#8220;weaponise legal systems&#8221; to intimidate and silence critics.
His lawsuits forced people into costly and time-consuming legal defenses, 
often based on fabricated evidence, the judge added as he handed out a General 
Civil Restraint Order or injunction against Wright, prohibiting him from 
filing any more civil claims or applications in the High Court.
The court highlighted how this strategy was part of a pattern of abusing the 
legal system to assert false claims of being Satoshi Nakamoto.
&#8220;It is apparent that Dr Wright had substantial financial backing from the 
start of his campaign, and his defamation claims were deliberately unequal 
battles,&#8221; said Judge Mellor. 
The Crypto Open Patent Alliance (COPA) brought the claim in 2021, seeking 
negative declarations and injunctive relief because of the threats Wright had 
made against its members, including crypto blogger Peter McCormack and Magnus 
Granath (aka Hodlonaut).
His defamation claims &#8220;put each man through five years of personal hell,&#8221; 
Mellor wrote, adding that allegations were &#8220;part of a deliberate strategy 
whereby Dr Wright and his backers sought to establish the claim [that Dr 
Wright was Satoshi] by unequal contests.&#8221;
COPA is a nonprofit community formed to encourage the adoption and advancement 
of crypto technologies and to remove patents as a barrier to innovation.
_Justice Mellor says Wright put defendants through personal hell. Source: 
bailii.org_
 _**Related:**__**Crypto group COPA launches bid to stop blockchain &#8216;patent 
trolls&#8217;**_
The threats its members received &#8220;were having a serious chilling effect on 
development and innovation in the cryptocurrency industry,&#8221; said Judge Mellor.
&#8220;Dr Wright&#8217;s actions have not only affected the individuals he has sued,&#8221; he 
continued. &#8220;They have also caused significant disruption to innovation in an 
important technology industry.&#8221;
## Craig Wright slapped for contempt of court
Last March, the British High Court ruled that Craig Wright was not the author 
of the Bitcoin white paper, did not operate under the pseudonym Satoshi 
Nakamoto and was not involved in the creation of Bitcoin.
In July, Wright issued a legal disclaimer on his website, emphatically stating 
that he was not the pseudonymous creator of Bitcoin.
In December, the Australian computer scientist was given a one-year suspended 
sentence in the United Kingdom for contempt of court.
Wright has also filed libel lawsuits against Ethereum co-founder Vitalik 
Buterin and Bitcoin pioneer Adam Back during the almost decade-long 
&#8220;faketoshi&#8221; saga.
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