K Wave Media, a Nasdaq-listed media and entertainment company, said it is redirecting up to $485 million in remaining financing capacity from a Bitcoin treasury strategy into an artificial intelligence infrastructure buildout, according to a Monday 6-K filing with the US Securities and Exchange Commission (SEC).
The capital will be deployed into data centers, graphics processing unit (GPU) compute operations and related AI infrastructure investments under an amended securities purchase agreement with Anson Funds, the structured equity financing counterparty to the company.
The amendment revises a prior $500 million equity purchase facility, which had been structured to support a Bitcoin treasury strategy, leaving $485 million available for deployment into AI infrastructure initiatives, according to the filing. The Bitcoin treasury was previously announced in 2025 as part of the company’s broader capital markets repositioning.
The company said the shift forms part of a broader restructuring that also includes the planned disposition of its wholly owned subsidiary Play Co., Ltd. and the expected elimination of approximately $48 million in debt and related contingent liabilities.
The move marks a sharp strategic reversal for K Wave Media, which had only positioned itself around a Bitcoin treasury strategy in June 2025, alongside earlier initiatives tied to Korean cultural intellectual property and tokenized securities concepts.
K Wave share price down ~28% pre-market. Source: Yahoo! Finance
The company’s share price has been volatile following the announcement and was down 28.25% at the time of writing since Friday’s close, from ~$0.406 per share to ~$0.294, according to Yahoo Finance data.
Board approves shift toward AI infrastructure strategy
K Wave Media said in the filing that its board has approved a strategic repositioning toward AI infrastructure, including investments in data centers, GPU compute and acquisitions across the AI value chain.
In a statement included in the filing, chief executive officer Ted Kim said the company aims to become “a meaningful participant in the rapidly growing AI infrastructure sector,” citing plans to build a scalable platform across compute and related technologies.
The company also said it is evaluating a potential corporate rebrand, including the name “Talivar Technologies,” subject to shareholder approval at its annual meeting scheduled for early July 2026. The restructuring, including the subsidiary disposal and debt reduction, is intended to significantly de-leverage the company’s balance sheet.
Cointelegraph reached out to K Wave Media for comment, but had not received a response by publication.
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AAVE’s 37% discount to its 200-day average at $93.12 creates a compelling risk-adjusted entry as technical oversold conditions align with bullish derivatives positioning for potential 60%+ February…
The Immediate Setup
AAVE trades at $93.12, deep in oversold territory with the token sitting 37% below its 200-day moving average at $147.38. The recent price action shows clear accumulation patterns despite surface weakness – daily volume remains robust at nearly $12 million on Binance spot while the Bollinger Band position indicates oversold rather than overbought conditions.
Technical momentum has flattened with MACD showing neutral positioning and RSI hovering in the mid-40s, typical of consolidation phases before directional moves. The 24-hour trading range between $91.74 and $95.11 demonstrates tight institutional control, with buyers defending the $92 level and sellers capping rallies near $95.
Critical Technical Levels
Support crystallizes at $89.95, providing a logical risk management level for new positions. The lower Bollinger Band near $82.59 offers deeper technical support should broader market weakness persist. On the upside, resistance emerges at $94.91 where the 7-day moving average creates the first meaningful hurdle.
The decisive battle zone sits between $96.69 resistance and the 20-day moving average at $96.71. A break above this cluster opens the path toward $110.84, representing the upper Bollinger Band and a potential 19% move from current levels. With daily Average True Range at $3.92, momentum shifts can generate significant percentage moves within trading sessions.
Market Positioning Reveals Opportunity
Professional trader positioning suggests accumulation beneath the surface noise. The long-to-short ratio stands at 1.48 with 59.6% of positions bullish, while funding rates remain neutral at 0.01% – indicating no excessive speculation in either direction. Open interest of $55.8 million paired with a 1.13 taker buy-to-sell ratio confirms steady institutional demand.
According to analysts at Blockchain.news, similar oversold setups in AAVE have historically resolved with 50-70% rallies within 6-8 week periods, making the current discount particularly attractive for medium-term positioning.
Strategic Entry Framework
The risk-reward equation favors accumulation in the $91-93 range with protective stops below $89.50 to honor the established support zone. Initial profit targets center on the $96.70 resistance cluster for a conservative 4% gain, while the primary objective targets the $110-115 zone representing 18-24% upside.
For position traders willing to hold through potential volatility, February presents an attractive timeline for 50-60% appreciation toward the $140-150 range based on historical mean reversion patterns. The maximum downside appears contained to the low $80s, creating asymmetric risk-reward favoring long exposure.
A daily close below $89.95 would invalidate the accumulation thesis and likely trigger deeper correction toward $80-85 before any sustainable recovery emerges.
AAVE trades at $92.50 in neutral territory with whale positioning suggesting accumulation phase. Technical indicators support a potential move toward $105-110 over the next 30 days if key support a…
Current Market Position
AAVE finds itself in consolidation mode at $92.50, trading below major moving averages but showing signs of stabilization rather than capitulation. The token sits well off its 200-day average of $148.03, yet the technical picture suggests this may be basing action rather than continued decline.
The momentum indicators paint a picture of indecision rather than bearish breakdown. RSI readings near 43.70 indicate neither oversold conditions that typically spark bounces nor the kind of momentum that drives sustained rallies. This neutral positioning often precedes directional moves as markets resolve their uncertainty.
Derivatives Signal Divergence
The derivatives landscape reveals more optimism than spot price action suggests. Open interest remains healthy at $55 million while funding rates stay modest at 0.0042%, indicating balanced positioning without excessive leverage that could trigger forced selling.
Whale positioning data shows institutional players maintaining 60% long exposure versus 40% short positions. This asymmetric positioning by sophisticated traders suggests current levels are viewed as attractive accumulation zones rather than distribution points.
The aggressive buying ratio of 1.35 confirms that active participants are willing to pay market prices rather than wait for deeper discounts. This behavior typically emerges when traders believe the downside is limited from current levels.
Technical Resistance Mapping
AAVE faces immediate resistance between $93.68-$94.85 that must be cleared to trigger upside momentum. Success in breaking this zone would open the path toward $105-110, where the 50-day moving average creates the next meaningful hurdle.
The support structure at $90.65 appears robust based on recent price action and volume profiles. A decisive break below this level would shift the technical narrative bearish and potentially target lower support zones.
Current analysis by Blockchain.news suggests the probability framework favors upside resolution, with the $105-110 target zone representing the most likely outcome over the next 30 days given current positioning and technical setup.
Risk Assessment Framework
The setup presents asymmetric risk-reward dynamics favoring long positions with defined risk parameters. Entry near current levels with stops below $90.65 support offers reasonable risk management while targeting the $105 resistance cluster.
Broader DeFi sector dynamics support the recovery thesis as institutional adoption continues expanding despite recent market volatility. The protocol’s demonstrated resilience through recent challenges has reinforced rather than weakened its fundamental positioning.
Failure scenarios remain limited to broader crypto market deterioration or breakdown of the $90.65 support level, both of which appear unlikely given current positioning and market structure dynamics.
The US crypto industry’s momentum won’t be derailed in the long term even if the much-anticipated CLARITY Act, aimed at bringing more regulatory clarity to the crypto industry, doesn’t make it through Congress, according to 250 Digital Asset Management CEO Chris Perkins.
“If not, we’re going to be just fine,” Perkins said on Cointelegraph’s Chain Reaction podcast on Friday, emphasizing that the two major financial regulators are already building workable frameworks.
Perkins pointed to ongoing efforts by US Securities and Exchange Commission (SEC) Chair Paul Atkins and Commodities and Futures Trading Commission (CFTC) Chair Michael Selig, following the agencies’ joint interpretation released in March on how federal securities laws apply to crypto assets.
Being labeled a security was once a “death sentence” for crypto
“These guys are creating policy and precedent every single day, and they are giving us the one thing we’ve needed for a very long time, that certainty, that stability, and ultimately, a taxonomy,” Perkins said.
“In the past, being a security was a death sentence; there was nowhere to go with it, and it just didn’t reconcile…now it is awesome to be a security,” he said.
During the Joe Biden administration, under former SEC chair Gary Gensler, crypto tokens classified as securities typically faced enforcement action, delistings from major platforms, and had no clear pathway for compliance in the US market.
Chris Perkins spoke to Cointelegraph journalist Ciaran Lyons on Chain Reaction on Friday. Source: Cointelegraph
While Perkins said he’s not worried about the industry’s long-term outlook if the CLARITY Act doesn’t pass, he added that if it does become law, it would make it much harder for future administrations to roll back the regulatory clarity.
“What you’ve done is you’ve essentially enshrined policy for a very long time, as hard as it is to pass a law, it is even harder to unwind a law,” Perkins said. “There is a reason why we say it takes an act of Congress to do something,” he added.
CLARITY Act hopes rise
Many industry participants have raised expectations that the CLARITY Act could pass soon after the publication of new stablecoin yield provisions on Friday.
“It’s time to get CLARITY done,” Coinbase chief legal officer Faryar Shirzad said in an X post on Friday, after US Senator Thom Tillis and US Senator Angela Alsobrooks published the final text aimed at settling the stablecoin yield dispute between the banking and crypto industries.
US Senator Bernie Moreno recently said that he anticipates the CLARITY Act to “get done” by the end of May. On April 11, US Senator Cynthia Lummis said, “It’s now or never.”
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A16z has thrown its weight behind the Commodity Futures Trading Commission (CFTC) in a growing federal-state standoff over prediction markets, opposing state regulators that try to shut down platforms like Kalshi and Polymarket.
The venture capital heavyweight submitted the letter on Thursday in response to the CFTC’s advance notice of proposed rulemaking on prediction markets. It argues that state-level crackdowns, ranging from cease-and-desist letters to criminal charges, are creating barriers that undermine the federal agency’s mandate to provide “impartial access to its markets and services.”
In recent weeks alone, the CFTC has filed lawsuits against Illinois, Arizona, Connecticut, New York and Wisconsin, claiming that those states overstepped by trying to regulate markets that fall under federal jurisdiction. A16z backed that position, arguing that forcing exchanges to block users based on their state of residence directly conflicts with the CFTC’s impartial access rules.
“Being forced to deny impartial access to users in states that seek to license or prohibit certain event contracts will likely severely circumscribe available liquidity,” the firm wrote.
State attorneys general have countered that platforms offering contracts on sports outcomes and political events are running unlicensed gambling operations. A16z pushed back on that framing, arguing that the CFTC, not state legislatures, holds the authority to define what constitutes “gaming” under federal commodities law, given the agency’s decades of oversight over event contracts.
Beyond the jurisdictional fight, a16z also made a case for the social value of prediction markets, describing their pricing mechanisms as a distinct form of price discovery that surfaces crowd intelligence on uncertain outcomes. The firm also showed support for blockchain-based platforms, claiming that the onchain auditability of transactions makes regulatory oversight more effective.
Kalshi and Polymarket trading volume. Source: Token Terminal
The letter arrives amid the growing popularity of these platforms. As Cointelegraph reported, monthly trading volume reached $25.7 billion in March, with more than 80% of users classified as retail, defined as those trading less than $10,000.
Polymarket is in talks with the CFTC to lift the ban that has kept American users off its main platform since a 2022 settlement, in which the company paid a $1.4 million penalty and agreed to block US customers over unregistered event contracts.
A full return would require a formal commission vote, though the process may move faster given that four of the CFTC’s commissioner seats are currently vacant.
Cointelegraph is committed to independent, transparent journalism. This news article is produced in accordance with Cointelegraph’s Editorial Policy and aims to provide accurate and timely information. Readers are encouraged to verify information independently.
Riot Platforms posted $167.2 million in revenue for the first quarter of 2026, with its newly launched data center business contributing $33.2 million.
The data center revenue helped offset a decline in Riot’s core Bitcoin mining business, which fell to $111.9 million from $142.9 million in Q1 2025, driven by lower average Bitcoin prices and a 24% rise in the global network hash rate. Riot produced 1,473 Bitcoin during the quarter, down from 1,530 a year earlier, while the average cost to mine one coin increased to $44,629 from $43,808, according to an announcement.
“The first quarter of 2026 marks a definitive inflection point for Riot, as we officially transitioned into an active, revenue-generating data center operator,” CEO Jason Les said, adding that AMD’s decision to double its contracted capacity to 50 megawatts during the quarter validated the company’s ability to execute at institutional scale.
AMD had initially contracted 25 megawatts before exercising an option to expand, bringing total contracted capacity to 50 megawatts of critical IT infrastructure.
Riot ended the quarter holding 15,679 Bitcoin, valued at roughly $1.1 billion based on a March 31 price of $68,222, with 5,802 coins held as collateral. The company maintained $282.5 million in cash, of which $76.9 million is restricted. Riot also said it sold more than $250 million worth of Bitcoin during the quarter.
Meanwhile, engineering revenue, which covers infrastructure services, rose to $22.2 million from $13.9 million year-over-year, adding another layer of diversification to the company’s revenue mix.
Riot’s stock closed up 7.31% at $18.50 on Friday, surging on the earnings release. The stock slipped 0.57% in after-hours trading to $18.40.
Riot shares surge on earnings news. Source: Yahoo! Finance
Bitcoin miners are increasingly shifting toward AI infrastructure as tightening mining margins push the industry to seek more stable revenue streams. As Cointelegraph reported, Core Scientific is converting its Pecos, Texas site into a 1.5-gigawatt AI-focused data center campus, repurposing 300 megawatts of Bitcoin mining capacity and acquiring over 200 acres of land to support the buildout.
Among other miners, MARA Holdings has acquired a majority stake in French AI infrastructure firm Exaion, while Hive, Hut 8, TeraWulf and Iren are also converting mining facilities into data centers.
Cointelegraph is committed to independent, transparent journalism. This news article is produced in accordance with Cointelegraph’s Editorial Policy and aims to provide accurate and timely information. Readers are encouraged to verify information independently.
AAVE’s technical structure is cracking at $92 with bearish momentum accelerating toward $80 support. The setup demands a swift breakdown before any legitimate recovery can target $120 by year-end.
AAVE’s Critical Juncture
AAVE sits at $92.12 in a deteriorating technical position that’s about to resolve violently. The token has rejected every attempt to reclaim meaningful resistance while bears systematically dismantled support levels. This isn’t consolidation – it’s controlled demolition ahead of a capitulation move.
The price action shows classic distribution patterns where smart money exits into retail strength. AAVE’s position deep in the lower Bollinger Band territory signals oversold conditions, but oversold can become more oversold in bear markets. The momentum indicators paint a picture of sellers in complete control, with buying interest evaporating at current levels.
Market Structure Breakdown
Derivatives positioning reveals the harsh reality facing AAVE bulls. While large traders maintain 60% long exposure, the aggressive selling pressure shown in the taker ratios demonstrates institutional distribution. These aren’t conviction longs – they’re trapped positions hoping for relief rallies that aren’t coming.
The futures market structure shows declining open interest alongside price weakness, indicating position closures rather than fresh shorting. This typically precedes acceleration moves as remaining weak hands get flushed out. Spot volumes remain anemic, suggesting retail has already capitulated while institutions continue methodical selling.
The Path Forward
AAVE faces an unavoidable test of $80 support within the next two weeks. The technical damage is too severe for sideways grinding – this market needs a flush to clear the deck. Analysts at Blockchain.news recognize that sustainable rallies require proper basing processes, not false hope bounces.
Once AAVE completes its capitulation move toward $80, the real accumulation phase can begin. The DeFi narrative remains intact long-term, but short-term price action must respect market structure. December presents the optimal window for recovery once selling exhaustion sets in.
Target the $80 breakdown as your entry signal rather than trying to catch falling knives at current levels. The subsequent recovery should target $120 by December if broader crypto markets cooperate with seasonal patterns. Risk management remains paramount – this market punishes premature positioning.
LDO shows classic dead cat bounce signals with smart money accumulation against retail shorts. Target $0.44 resistance before inevitable breakdown to $0.30 support.
Market Context: Why LDO is Moving Now
Lido DAO trades in a textbook distribution phase after getting crushed from $0.52 highs. The sideways grind around $0.37 reflects broader DeFi weakness, but liquid staking demand keeps institutional money flowing despite retail capitulation. Bulls and bears remain deadlocked in a battle that will resolve violently.
The 1.06% daily pump is meaningless noise within this larger consolidation. LDO sits 29% below its 200-day moving average – a breach this severe rarely reverses on first attempts. Analysts at Blockchain.news expect multiple false breakouts before any sustainable recovery begins.
Indicator Alignment
RSI at 50.97 shows zero momentum in either direction while MACD sits dead flat at the zero line. This neutral reading masks dangerous compression building beneath the surface. Bollinger Bands position LDO at 0.39 – low enough to suggest selling exhaustion but not oversold enough to guarantee a bounce.
The daily ATR of $0.03 reveals volatility has compressed to critical levels. When price action gets this quiet, explosive moves follow. The question isn’t if LDO breaks out, but which direction it chooses.
Whales & Analyst Targets
Derivatives data exposes the real positioning behind LDO’s sideways action. Retail traders pile into shorts with a 0.68 long/short ratio while smart money maintains near-balanced 0.89 exposure. This divergence creates perfect conditions for a squeeze in either direction.
The 1.57 taker buy/sell ratio confirms institutional accumulation despite bearish sentiment. Open interest dropped 5.91% as weak hands exit positions, reducing the float available for trading. With $13.1 million still committed, any catalyst triggers violent price swings.
Strategic Positioning
LDO faces immediate resistance at the $0.39 seven-day moving average, but the real battle happens at $0.44 upper Bollinger resistance. A break above this level opens the door to $0.52 previous highs, though rejection remains the higher-probability outcome.
The bear case targets $0.33 lower Bollinger support initially, then breakdown toward $0.30 psychological support. Macro DeFi headwinds combined with LDO’s broken technical structure make this the primary scenario over the next month.
Bulls need sustained volume above $0.39 to shift the narrative. Without it, expect a classic relief rally to $0.44 that traps late longs before the real selloff toward $0.30 begins.
Bitcoin may not need a new story or catalyst to push back above the psychological $100,000 level, which it has not traded above in nearly five months, according to MN Trading Capital founder Michael van de Poppe.
‘“There doesn’t need to be a narrative that pushes the price upwards,” van de Poppe said in an X post on Friday, after asking, “What narrative will bring Bitcoin to $100K?”
“Price moves upwards, and the narrative will create itself,” van de Poppe said, adding:
“That’s why simply using math, statistics, and logic is required in order to succeed, and that’s why these regions on Bitcoin are still good for accumulation.”
Van de Poppe pointed out that attention has rotated elsewhere in the technology industry, with AI and other sectors “taking the spotlight” away from Bitcoin in recent months. At the time of market close on Friday, the stock price of Nvidia (NVDA), the largest AI stock by market capitalization, is up 5.08% since Jan. 1, while Bitcoin (BTC) is down around 10% over the same period.
Bitcoin hasn’t traded above $100,000 in almost five months
The last time Bitcoin traded at $100,000 was Nov. 13, just a month after the Oct. 10 $19 billion crypto market liquidation event, which many market participants attributed to the recent five-month downtrend. Bitcoin fell to a yearly low of $60,000 in February and has since recovered to $78,250 at the time of publication, according to CoinMarketCap.
Bitcoin is up 14.49% over the past 30 days. Source: CoinMarketCap
Many crypto market participants still believe that Bitcoin needs a strong narrative to drive its price higher. In recent times, attention has centered on US Federal Reserve interest rate decisions, regulatory developments in the US, and spot Bitcoin exchange-traded fund (ETF) inflows as potential catalysts.
Some also point to the potential passage of the US CLARITY Act, which aims to provide clearer rules for the industry, as a possible driver of Bitcoin’s upside.
Some say the CLARITY Act will not boost Bitcoin’s price
Others are not so sure. Veteran trader Peter Brandt told Cointelegraph in December that the CLARITY Act would be a positive step for the industry, but is unlikely to act as a major catalyst for upward movement in Bitcoin’s price.
“Is it a world-shaking macro development? Nope. Needed for sure, but not something that should redefine value,” Brandt said.
Coinbase chief legal officer Faryar Shirzad said on Friday that “It’s time” for the CLARITY Act to be finalized after new stablecoin yield provisions were published on Friday.
Meanwhile, White House crypto advisor Patrick Witt said at the Bitcoin Conference in Las Vegas this week that a “big announcement” on US President Donald Trump’s Bitcoin reserve is coming within weeks.
Cointelegraph is committed to independent, transparent journalism. This news article is produced in accordance with Cointelegraph’s Editorial Policy and aims to provide accurate and timely information. Readers are encouraged to verify information independently.
Connor Howe, CEO and co-founder of cross-chain infrastructure project Enso, said that crypto protocols are not that different from centralized platforms or banks if a small group of people can freeze funds.
“The differentiation from a bank compliance officer is less than DeFi idealists will ever admit,” Howe told Cointelegraph.
The debate isn’t the usual kerfuffle between decentralization and centralization, but about who gets to intervene and how quickly they can act. In practice, it can determine whether stolen funds are stopped or slip through.
Crypto community divided on Arbitrum’s decision to freeze stolen funds. Source: Joe Hall
The limits of decentralization in DeFi
To put it simply, the industry is split on whether protocols that call themselves decentralized should be able to freeze funds during exploits.
Protocols like THORChain said they cannot freeze funds by design, even during exploits. Security researchers have questioned that claim, pointing to past cases where intervention did happen.
THORChain founder’s defense against the security community. Source: JP Thorbjornsen
Bernardo Bilotta, CEO of stablecoin infrastructure platform Stables, said the function is necessary but must operate within clear constraints.
“Freeze capabilities need to be narrowly scoped, time-limited and governed by transparent criteria that existed before the breach occurred,” Bilotta told Cointelegraph. “A protocol shouldn’t be making up the rules while the house is on fire.”
Bilotta characterized choosing “philosophical purity” over user protection as “negligence.”
The recent $293 million Kelp DAO exploit brought those discussions back into the spotlight as Arbitrum froze some of the stolen funds linked to suspected North Korean hackers. Some in the industry said the decision cut against DeFi’s grain.
The Ethereum layer-2 network has a 12-member security council with the ability to carry out certain changes to the protocol. In emergency situations, it can do so through nine of the 12 in its multisig wallet.
Arbitrum security council members are voted on by the network’s decentralized autonomous organization. Source: Arbitrum
Howe said that transparency in how such security councils operate can still separate DeFi platforms from traditional finance or their centralized counterparts.
“That’s notably different from a TradFi institution that invokes discretionary powers buried in their terms of service and guarded by their legal team,” Howe said.
“There should be transparency in every protocol around who holds the keys, and the safeguards in place to prevent them from going rogue. If there’s no clear distinction, then it’s a vague claim of decentralization.”
Centralized issuers face different constraints
Centralized stablecoins are among the most-traded cryptocurrencies in the world. Tether’s USDt and Circle’s USDC are the largest, accounting for more than $266 billion in combined market capitalization.
Both issuers have the ability to freeze their stablecoins, but they approach that function differently.
While Tether freezes funds more quickly in most security breaches, Circle emphasizes legal process and jurisdiction before intervening,
“Let me be clear about something that is frequently misunderstood: when Circle freezes USDC, it is not because we have decided, unilaterally or arbitrarily, that someone’s assets should be taken from them,” Dante Disparte, the company’s head of global policy, wrote in a recent blog post.
“Our ability to freeze funds is a compliance obligation — exercised only when we are legally compelled by an appropriate authority, through lawful process,” he continued.
Circle was pushed to explain its stance after the recent $280 million exploit on Solana-based Drift protocol, also attributed to North Korea.
Circle’s explanation did not cut it for security experts demanding answers. Source: ZachXBT
Bilotta said waiting for formal legal orders in cases with clear, onchain evidence of an exploit is a “failure of responsibility.”
Who decides what counts as “extreme”
Large-scale exploits, including those linked to North Korean actors, have pushed the industry into situations most would consider extreme, where hundreds of millions can be drained and laundered in real time.
Such cases raise the question of who defines what qualifies as “extreme” and when intervention is justified.
“This is the question the industry has been ducking the longest,” said Wish Wu, CEO of institution-focused layer-1 Pharos.
“In practice, ‘extreme’ is too often defined after the fact by whoever holds the keys, which is exactly the failure mode decentralization was meant to avoid,” he added.
Wu said the more credible approach is to define those conditions in advance and encode them into governance, even if that means accepting that some edge cases fall outside those rules.
“Can a small, identifiable group move user funds before users have a fair chance to exit?” Wu asked.
“If the answer is yes, then whatever the marketing says, the system is custodial in substance. If the answer is no, only then are we in an honest conversation about which governance and safety tradeoffs make sense for different use cases.”
Below that line, decentralization loses its substantive meaning, he added.
Cointelegraph is committed to independent, transparent journalism. This news article is produced in accordance with Cointelegraph’s Editorial Policy and aims to provide accurate and timely information. Readers are encouraged to verify information independently.