Tag: CRYPTOS FoxBusiness

  • Man who’s spent 28 years walking from Chile to Hull stopped from swimming English Channel home

    Man who’s spent 28 years walking from Chile to Hull stopped from swimming English Channel home

    Karl Bushby has been travelling the world on foot for nearly 30 years (Picture: Karl Bushby / SWNS)

    A former paratrooper who has spent nearly 30 years walking home to Hull from South America may be prevented for a second time after he was prevented from swimming across the English Channel.

    Karl Bushby – who is travelling the world without using cars, trains, buses or planes – may not be able to make the final crossing to the UK from France, as French authorities only allow people to swim in the other direction.

    Karl, 57, said: ‘We are talking with the French coastguard.’

    Bushby set off from Chile in 1998 and has reached Belgium.
    He is now nearing the final stages of his journey back to his hometown.

    But crossing the Channel has proven a challenge more than once after Eurotunnel bosses refused his request to walk through it in June.

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    Karl in Chile in 1999, shortly after he started his epic journey (Picture: Karl Bushby / SWNS)

    This left him with no option but to swim, in line with the terms of his challenge, which say he cannot use any form of transport to travel.

    Bushby still hopes that authorities might let him use the Eurotunnel. In the meantime, he is hoping he can find a way to swim the 21-mile distance in just a few months.

    We have secured a support boat for October’, he said. ‘That’s a big thing. I would expect it to take two or three days to swim across to the UK.’

    Karl is currently in Mexico, where he takes breaks between stages of his challenge to meet visa regulations and to plan routes. On occasion, he visits the US, where his sponsors are based. 

    ‘I will be back in Belgium in early September,’ he said. ‘Towards the end of that month, I expect to be in France, preparing for the swim.

    ‘I am not angry it has come to this. I am more disappointed. But things could still change. Walking through the service tunnel is still the preferred option.’

    Karl Bushby on his walk while in Alaska, USA, 2005.
    Karl has crossed all terrains and has even been detained along his route (Picture: Karl Bushby / SWNS)

    Karl is no stranger to traversing vast bodies of water. 

    In 2006, he became the first Brit to walk across the Bering Strait, a 58-mile stretch of frozen sea linking North America and Russia

    Then, in 2024, he swam more than 170 miles over 31 days across the Caspian Sea from Kazakhstan to Azerbaijan to avoid conflict zones in Russia and Iran.

    Despite this, Karl isn’t a fan of this method of getting around.

    ‘I’m just not into the swim thing,’ he said previously. 

    ‘I’ve had to do a couple of swims here and there. […] [The English Channel] is a different stretch of water; it’s colder, we’ll see. Hopefully, I’ll never have to think about it.’

    Where has Karl been so far?

    Karl Bushby on his walk - Panama, 2001. // A Brit nearing the end of a round-the-world walk faces swimming across the English Channel after he was told he can?t use the Channel Tunnel.Former paratrooper Karl Bushby, 57, has spent the last 27 years trekking across the globe ? after setting off from Chile in 1998, with the aim of returning to Hull.But despite overcoming hurdles ? including the infamous Darien Gap, being arrested in Russia, and having to swim through the Caspian Sea to avoid Iran ? Mr Bushby now faces his final: the English Channel.GetLink, the operators of the tunnel, have denied his formal request to walk through the 31-mile long service tunnel ? saying it would pose a safety risk. Photo released 18/06/2026
    Karl in Panama in 2001 (Picture: Karl Bushby / SWNS)

    Karl began the challenge after sketching a rough path on a map when he was in the army. He showed the plan to fellow soldiers who told him it could not be done.

    This made him all the more determined, and he set himself two rules: to never use transport, and to not return to the UK until he had completed the journey.

    Karl set off on his 36,000-mile journey from Punta Arenas, Chile, in 1998, thinking it would take him 12 years.

    But in the three decades since, he has been met with several setbacks that have lengthened his adventure.

    He has had to evade bandits in the notoriously dangerous Darien Gap and has been detained by Russian officials for illegally entering the country.

    He also spent 18 days in prison in Panama for entering without a visa before continuing his journey through Mexico and the US, where he overstayed his visa and had to fly back to Colombia to wait for a new one.

    In 2003, as he was preparing to cross the border into Canada, his trailer was stolen and he was forced to wait another month for the items in it to be replaced.

    Karl Bushby on his walk - Bering Strait crossing, 2006. // A Brit nearing the end of a round-the-world walk faces swimming across the English Channel after he was told he can???t use the Channel Tunnel.Former paratrooper Karl Bushby, 57, has spent the last 27 years trekking across the globe ??? after setting off from Chile in 1998, with the aim of returning to Hull.But despite overcoming hurdles ??? including the infamous Darien Gap, being arrested in Russia, and having to swim through the Caspian Sea to avoid Iran ??? Mr Bushby now faces his final: the English Channel.GetLink, the operators of the tunnel, have denied his formal request to walk through the 31-mile long service tunnel ??? saying it would pose a safety risk. Photo released 18/06/2026
    Karl crossed the Baring Strait in 2006 (Picture: Karl Bushby / SWNS)

    His trailer was stolen on New Year’s Day 2003, a day before he was due to cross into Canada while visiting a bar. Another month passed while he replaced his lost items.

    Despite this – and many other issues he encountered along the way – he reached Armenia last June, before travelling through Turkey, Bulgaria, Romania, Hungary, Austria, Slovakia and, after stopping off in Mexico to sort his Schengen visa out, traversed Europe where he is now hoping to find a way to cross his final sea.

    Once he is back on UK shores, Karl will walk to Hull, where the journey will end at his childhood home.

    The French Maritime Rescue Coordination Centre referenced a 2018 ‘prefectural order’ confirming the restriction on Karl’s swim.

    It said it has referred Karl’s support team to the Channel and North Sea Maritime Prefecture.

  • It’s coming phone! England’s spectacular victory over Mexico sparks huge surge in mobile use 

    It’s coming phone! England’s spectacular victory over Mexico sparks huge surge in mobile use 

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    In The Mixer’s World Cup special

    Everything you need to know about the World Cup – England updates, the games to watch and stories you missed – in five minutes, at 1pm, every day.

  • Why Zcash’s Orchard flaw puts pre-disclosure trading under the spotlight

    Why Zcash’s Orchard flaw puts pre-disclosure trading under the spotlight

    Developers recently revealed that a four-year-long vulnerability in Orchard may have enabled unlimited counterfeit Zcash [$ZEC] until an emergency patch was issued. However, fresh market data has raised further questions regarding events before the discovery.

    Allium Labs, after reviewing trade history, identified unusual trading activity. On the 26th of May, $ZEC’s trading volume surged 12–13 times above its average. Researchers privately uncovered the defect three days later, on the 29th of May.

    Source: Allium Research

    While researchers were identifying the defect, $ZEC declined from approximately $660 down to $530, indicating increasing selling pressure. The developers disabled Orchard on the 2nd of June and issued a patch on the 3rd of June, yet confidence continued fading.

    By the 5th of June, $ZEC had fallen by 64 percent from $685 to $247 with hourly trading at $560 million.

    Early positioning fuels market suspicion

    The uncertainty in the aftermath of this issue also led to further review of which parties were actively trading in the market ahead of the issue becoming apparent. Allium found that traders opened the most profitable positions on the 25th and 26th of May.

    This occurred days before the private discovery of the Orchard flaw. More importantly, traders opened these large positions before researchers privately disclosed the flaw on the 29th of May. Notably, the largest wallet had a short position worth $34.5 million and, as a result, made approximately $998,000 in profits.

    Source: Allium Research

    A second short position worth $17.7 million accrued profits of approximately $724,000. These high profits raised questions about whether traders anticipated the sell‑off.

    However, the data does not provide sufficient evidence to prove such claims. In futures markets, all shorts are offset by an equal number of longs. Therefore, simply showing profitable positions is insufficient to establish that those positions existed due to prior knowledge.

    That balance became evident when the largest $91.5 million long position ultimately lost $6.97 million. Meanwhile, Zcash’s privacy model prevents anyone from verifying whether the flaw was ever exploited. This left markets to price on probabilities instead of certainty and kept confidence fragile despite the completed patch.


    Final Summary

    • Allium Labs flagged unusual $ZEC trading before the Orchard flaw discovery, fueling suspicion of informed positioning.
    • Profitable shorts raised questions, but lack of evidence and Zcash privacy kept confidence fragile.
  • Ripple Almost Shut Down and Distributed XRP After SEC Lawsuit, CEO Reveals

    Ripple Almost Shut Down and Distributed XRP After SEC Lawsuit, CEO Reveals

    Ripple Considered Closing After SEC Lawsuit Put Company at Risk

    Ripple CEO Brad Garlinghouse revealed that the company considered shutting down after the U.S. Securities and Exchange Commission (SEC) filed a lawsuit against Ripple and named him and co-founder Chris Larsen in 2020 over $XRP sales. The decision became one of the most difficult moments of his leadership, with the company weighing whether continuing the legal fight was worth the financial and operational risks.

    Garlinghouse said during a KU Hustle podcast interview at the University of Kansas School of Business, published on July 8:

    “We almost decided to shut down the company when the SEC sued us … The company owns a lot of $XRP … We could have shut it down and … just distribute the $XRP to shareholders on a pro rata basis.

    The SEC lawsuit centered on the regulator’s claim that $XRP sales involved unregistered securities. Garlinghouse disputed that position, comparing the crypto token more closely to bitcoin, which he described as a separate digital asset operating on an open network.

    Ripple’s Legal Fight Ended After SEC Appeal Withdrawal and Final Judgment

    Garlinghouse said Ripple spent $150 million on legal bills during the four-year dispute with the SEC, while its U.S. business remained largely stagnant for about five years after the lawsuit began. He said the case created prolonged uncertainty around Ripple’s ability to operate in the domestic market.

    The legal battle began in 2020 when the SEC alleged Ripple sold $1.3 billion of $XRP as an unregistered security. In 2023, U.S. District Judge Analisa Torres issued a mixed ruling, finding that $XRP sales on public exchanges were not securities transactions, while sales to institutional investors were treated differently under securities law.

    Ripple was later ordered to pay a $125 million civil penalty and accept an injunction related to securities law compliance. Both Ripple and the SEC filed appeals challenging different aspects of the ruling before agreeing to dismiss those filings. The case formally concluded in August 2025 after the appeals were withdrawn and the court process ended.

    The regulatory environment surrounding cryptocurrency also changed after SEC leadership shifted under Chairman Paul Atkins and the Trump administration. The agency moved away from a more aggressive regulation-by-enforcement approach toward deregulation, greater engagement with the crypto industry, and a focus on traditional fraud cases rather than broad corporate penalties.

    Garlinghouse said that before the SEC filed its lawsuit, he met with SEC officials four times between 2017 and 2019 to explain how Ripple used blockchain technology and $XRP in its payment system. He said regulators did not indicate during those meetings that $XRP could be considered a security.

    Ripple Continued Operations After Weighing Shutdown Option

    The Ripple chief executive described how the company could have responded to the SEC lawsuit, outlining a scenario in which Ripple might have exited the dispute by distributing its $XRP holdings and dissolving the company.

    “You guys think these are securities. Ripple doesn’t own it anymore. Ripple’s gone now,” he said, describing a hypothetical scenario rather than an action the company took, outlining how Ripple could have responded to the SEC.

    He added that such a move would have come at a high cost to employees and the company’s future, stating:

    “Hundreds of people would have lost their jobs. I think that was a bad outcome, but in some ways it was the easier outcome.”

    After deciding not to shut down, Garlinghouse said the choice to continue operating was not clear at the time. “That was a difficult decision, and obviously I’m glad in retrospect, but that was not obvious at the time,” he stated. Ripple chose to continue operating after weighing the impact on employees and the business.

  • Bitcoin ETFs draw $197M, snap 8-week outflow streak

    Bitcoin ETFs draw $197M, snap 8-week outflow streak

    US-listed spot Bitcoin exchange-traded funds recorded a net inflow of $197.4 million in the week ended Friday, snapping an eight-week streak of weekly outflows dating back to May.

    Data from Farside Investors shows that most of the week’s gains came from the BlackRock iShares Bitcoin Trust ETF, which recorded $291.9 million in inflows. This was offset by outflows from the Grayscale Bitcoin Trust ETF, the Fidelity Wise Origin Bitcoin Fund and the ARK 21 Shares Bitcoin ETF.

    The end of the outflow streak could suggest institutional demand for Bitcoin is recovering after two months of sustained selling pressure. However, one analyst said it’s too early to tell with ETF and stablecoin outflows and seasonality in August and September.

    “There’s also been a pattern over the past few months where Bitcoin performs better in the first half of the month, then consolidates in the latter half,” 10x Research founder and CEO Markus Thielen told Cointelegraph.

    “Without flows still pronounced and ETF flows yet to meaningfully pick up, even after Bitcoin’s 9%+ jump, the headwinds remain in our view.”

    The $197.4 million weekly inflow was modest compared with the $8.26 billion investors withdrew since May 11.

    Total spot Bitcoin ETF net inflow. Source: SoSoValue

    Last week, Real Vision chief crypto analyst Jamie Coutts told Cointelegraph that Bitcoin could be entering the latter stages of the bear market, based on early technical signs suggesting that selling pressure is easing.

    “I think we’re getting through most of the bear market action. It’s still not over, clearly. But you know, I think we’re approaching at least the second half,” Coutts said.

    Other analysts say there could be further downsides ahead.

    Russell Thompson, chief investment officer at asset manager Hilbert Capital told Cointelegraph last week that he believes Bitcoin remains in a downcycle and could hit a low around October this year.

    Ether ETFs also break outflow streak

    Meanwhile, US-listed spot Ether ETFs also broke their eight-week losing streak, with $84.42 million in net inflows for the week ended Friday, led by BlackRock and Fidelity’s Ether funds.

    The inflows paled in comparison with the $1.2 billion in net outflows since May 11.