ACX Token Plummets 10% Amid Binance Listing Manipulation Claims
The ACX token of Across Protocol experienced a sharp 10% decline following allegations of governance manipulation and insider trading, particularly surrounding a Binance listing. Prominent social media users accused core contributors of front-running the listing and maintaining excessive control over the decentralized autonomous organization (DAO). Trading volume surged as the market reacted to these claims. Across Protocol co-founder Hart Lambur strongly denied the allegations, stating they were "categorically untrue." The controversy highlights ongoing challenges in DAO governance and transparency within the cryptocurrency space.
ACX Token Slides 10% Amid DAO Manipulation Allegations
Across Protocol's ACX token tumbled 10% following accusations of governance manipulation and insider trading. Prominent X users alleged Core contributors front-ran a Binance listing and retained undue control over the decentralized autonomous organization.
Trading volume spiked as market participants reacted to the claims, which co-founder Hart Lambur vehemently denied. "These allegations are categorically untrue," Lambur stated, emphasizing that token grants were used strictly for protocol development and team expansion.
The controversy highlights growing scrutiny of DAO governance structures as decentralized projects mature. While unproven, the allegations have exposed vulnerabilities in market confidence when questions arise about decentralization purity.
Binance Founder CZ Predicts 0.1 BTC Could Outvalue a U.S. Home
Changpeng Zhao, founder of Binance, has made a striking prediction: owning 0.1 Bitcoin may soon surpass the value of a U.S. home. This bold statement follows a pivotal announcement from U.S. housing officials that could allow Bitcoin to be used as financial collateral in mortgage applications.
The U.S. Federal Housing Finance Agency has directed Fannie Mae and Freddie Mac to explore integrating cryptocurrencies into mortgage qualification processes. Borrowers may soon leverage verifiable bitcoin holdings—held on regulated exchanges—as proof of reserves, though volatility risk adjustments would apply.
This potential policy shift signals a redefinition of the American Dream, where digital assets compete with traditional real estate as stores of value. For crypto holders, it represents a watershed moment in institutional recognition—and a possible demand catalyst for BTC.
WazirX Founder's Secret Stake Transfer Sparks Outrage Amid Hack Fallout
Nearly a year after India's ₹2,000 crore WazirX hack, founder Nischal Shetty faces renewed scrutiny following revelations of a covert ownership transfer. UAE filings show Shetty relinquished 100% of Shinjuku FZC LLC—a WazirX-linked entity—to his wife Moujhari Guha on August 13, 2024. The MOVE occurred weeks post-breach, with no public disclosure despite users grappling with fund losses.
A Singapore court further compounded tensions by confirming irregularities in WazirX's Singapore arm, Zettai Pte. Ltd. The timing of Shetty's exit, coupled with regulatory opacity, has fueled accusations of abandonment during a crisis that impacted millions of Indian crypto investors.
Changpeng Zhao Foresees Bitcoin Surpassing US Home Values
Binance founder Changpeng Zhao predicts that 0.1 Bitcoin could soon exceed the value of an average US home. This bold projection follows the US Federal Housing Finance Agency's exploration of Bitcoin as collateral for mortgage applications, signaling a potential paradigm shift in institutional crypto adoption.
The FHFA's proposal WOULD allow borrowers to use Bitcoin holdings stored on regulated exchanges as financial reserves, subject to volatility adjustments. While proponents hail this as a liquidity innovation, skeptics warn of risks posed by crypto's price swings in traditional lending frameworks.
Singapore Court Reschedules WazirX Restructuring Hearing to July 15
The Singapore High Court has postponed the hearing for WazirX's restructuring case to July 15, 2025, with a reserve date of July 16. The exchange seeks approval for its recovery plan following a ₹2,000-crore hack in 2024.
WazirX must submit a supplemental affidavit and written submissions by July 4. The court has barred consideration of external documents until further notice, emphasizing a review of the company's filings first.
Attendance details for the hearing remain unclear. The outcome could set a precedent for crypto exchange insolvencies in Asia.
Crypto Market Sees $202M Liquidation as BTC, ETH, XRP Retreat
The cryptocurrency market faced a broad pullback, shedding 1.03% of its total capitalization to $3.28 trillion amid muted trading volumes. Liquidation figures surged to $202.17 million across 89,122 traders, with Binance recording the largest single ETHUSDT liquidation at $2.82 million.
Bitcoin dipped 0.97% to $106,981.09 as options data revealed a $102,000 maximum pain price, while ethereum maintained its 9% market share dominance. Neutral sentiment prevailed with the Fear & Greed Index static at 49, reflecting investor caution ahead of key U.S. economic indicators.