Crypto News Today

In the world of cryptocurrency, speculation is running high as meme coins tied to potential successors to President Joe Biden soar in value. The recent surge in speculation follows a report from The New York Times suggesting that President Biden may withdraw from the 2024 race. This has led to a significant increase in the value of meme coins associated with possible Biden replacements.

Despite denials from the White House, the rumors surrounding Biden’s potential withdrawal continue to drive market volatility and investor interest in politically themed cryptocurrencies. Polymarket odds have jumped from 55% to 80%, reflecting the growing uncertainty and speculation in the market.

In other news, the IOTA Foundation has made a significant contribution to blockchain research by funding a new lab at Imperial College London. The lab aims to advance the development of distributed ledger technologies and foster innovation in the blockchain space.

On a less positive note, a U.S. federal court has ordered Sam Ikkurty and his firm, Jafia LLC, to pay $84 million for operating a crypto Ponzi scheme. The judgment aims to compensate defrauded investors and restore confidence in financial markets.

Bitcoin’s price has experienced some volatility, dipping below $61,000, but some traders remain optimistic, predicting that it could still reach $150,000 by the end of the year. Meanwhile, CryptoQuant reports that Bitcoin miners are capitulating, a signal that is often indicative of a market bottom. This trend suggests potential upcoming stability or a rebound in Bitcoin’s price.

Decentralized markets are also being used to predict the outcome of the next U.S. presidential election, leveraging blockchain technology to provide insights and potentially profit from political forecasts.

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