In the fast-paced world of cryptocurrencies, there are fewer industry experts and visionaries who have emerged to guide the industry into a...
Crypto Market
ecryptobit.com Invest: A Comprehensive Guide to Cryptocurrency Investment
A cryptocurrency market has engulfed the entire world of investment; be your trader or just an innocent onlooker; at some point while...
A Comprehensive Guide to Crypto30x.com: Features, Benefits, and
Crypto30x.com is a cryptocurrency trading platform that has been made for both new and experienced traders to equip themselves better when they...
SushiSwap Unveils Ambitious 2025 Vision: Paving the Way
SushiSwap, one of the leading decentralized exchanges (DEXs) in the DeFi ecosystem, has set its sights on a bold vision for 2025....
Latest Feeds
Is XRP price around $2 an opportunity or the bull market's end? Analysts weigh in
XRP (XRP) has dropped nearly 40% to around $2.19, two months after hitting a multi-year high of $3.40. The cryptocurrency is tracking a broader market sell-off driven by President Donald Trump’s trade war despite bullish news like the SEC dropping its case against Ripple.XRP/USD daily price chart. Source: TradingViewHowever, XRP is still up 350% from its November 2024 low of $0.50, suggesting a consolidation phase after a strong rally. This sideways action has sparked discussions over whether it’s the end of the bull run or a prime buying opportunity.No buying opportunity until XRP falls further XRP has been consolidating between $1.77 (support) and $3.21 (resistance) since January, with repeated rejections near the top of the range and fading bullish momentum.According to analyst CrediBULL Crypto, XRP’s recent bounce attempt stalled below $2.20, reinforcing bearish control. He now expects the price to revisit the range lows around $1.77 for a potential long entry. XRP/USD four-hour price chart. Source: TradingViewThe rectangle-shaped green support area on the chart extends as low as $1.50, signaling a high-demand zone where bulls could step in.A short-term marketwide bounce—led primarily by Bitcoin (BTC)—could trigger a temporary recovery, argues CrediBULL, emphasizing that only a clean breakout above $3.21 would confirm a bullish trend reversal. Until then, XRP remains in a sideways structure, with CrediBULL’s strategy focused on watching for reactions at the $1.77 support level before committing to a long position.Source: XXRP bull flag may lead to 450% price rallyCrediBULL highlighted XRP’s sideways range between $1.77 and $3.21 as a consolidation zone, waiting for a clear breakout to confirm the next trend. Interestingly, that very range may be forming a bull flag, according to analyst Stellar Babe. XRP/USD weekly price chart. Source: TradingView/Stellar BabeA bull flag forms when the price consolidates inside a parallel channel after undergoing a strong uptrend. It resolves when the price breaks above the upper trendline and rises by as much as the previous uptrend’s height.Related: XRP price may drop another 40% as Trump tariffs spook risk tradersStellar Babe’s analysis notes that If XRP breaks above the flag’s upper boundary range at $3.21. Its projected target, based on the height of the flagpole, is around $12, up around 450% from current prices.XRP’s five-year channel hints at rally to $6.50XRP is currently consolidating within a long-term bullish structure, according to a recent analysis by InvestingScoope. The chart shows XRP trading inside a five-year ascending channel, with the current move resembling the March 2020 to April 2021 rally based on price behavior and momentum indicators.XRP/USD weekly price chart. Source: TradingView/InvestingScoopeDespite the pullback, the broader bullish cycle stays intact as long as XRP holds above the 50-week moving average (1W MA50). InvestingScoope notes that this phase mirrors March 2021, which preceded a strong breakout. If the pattern continues, XRP price could be preparing for its next leg up with a potential target of $6.50 in the months ahead.This article does not contain investment advice or recommendations. Every investment and trading move involves risk, and readers should conduct their own research when making a decision.
Published: 5 minutes ago
Stablecoin rules needed in US before crypto tax reform, experts say
United States cryptocurrency regulations need more clarity on stablecoins and banking relationships before lawmakers prioritize tax reform, according to industry leaders and legal experts.“In my view, tax isn’t necessarily the priority for upgrading US crypto regulation,” according to Mattan Erder, general counsel at layer-3 decentralized blockchain network Orbs.A “tailored regulatory approach” for areas including securities laws and removing “obstacles in banking” is a priority for US lawmakers with “more upside” for the industry, Erder told Cointelegraph.“The new Trump administration is clearly all in on crypto and is taking steps that we could have only dreamed about a few years ago (including during his first term),” he said. “It seems likely that crypto regulation will be able to have it all and get much more clear and rational regulation in all areas, including tax.”Still, Erder noted there are limits to what President Donald Trump can accomplish through executive orders and regulatory agency action alone. “At some point, the laws themselves will need to change, and for that, he will need Congress,” he said.Trump’s March 7 executive order, which directed the government to establish a national Bitcoin reserve using crypto assets seized in criminal cases, was seen as a signal of growing federal support for digital assets.Related: Trump turned crypto from ‘oppressed industry’ to ‘centerpiece’ of US strategyDebanking concerns remainDespite the administration’s recent pro-crypto moves, industry experts say crypto firms may continue to face difficulties with banking access until at least January 2026.“It’s premature to say that debanking is over,” as “Trump won’t have the ability to appoint a new Fed governor until January,” Caitlin Long, founder and CEO of Custodia Bank, said during Cointelegraph’s Chainreaction daily X show.The Crypto Debanking Crisis: #CHAINREACTION https://t.co/nD4qkkzKnB— Cointelegraph (@Cointelegraph) March 21, 2025Industry outrage over alleged debanking reached a crescendo when a June 2024 lawsuit spearheaded by Coinbase resulted in the release of letters showing US banking regulators asked certain financial institutions to “pause” crypto banking activities.Related: Bitcoin may benefit from US stablecoin dominance pushStablecoin legislation could unlock new growthDavid Pakman, managing partner at crypto investment firm CoinFund, said a stablecoin regulatory framework could encourage more traditional finance institutions to adopt blockchain-based payments.“Some of the potentially soon-to-pass legislation in the US, like the stablecoin bill, will unlock many of the traditional banks, financial services and payment companies onto crypto rails,” Pakman said during Cointelegraph’s Chainreaction live X show on March 27.“We hear this firsthand when we talk to them; they want to use crypto rails as a lower-cost, transparent, 24/7, and no middleman-dependent network for transferring money.”The comments come as the industry awaits progress on US stablecoin legislation, which may come as soon as in the next two months, according to Bo Hines, the executive director of the president’s Council of Advisers on Digital Assets.The GENIUS Act, an acronym for Guiding and Establishing National Innovation for US Stablecoins, would establish collateralization guidelines for stablecoin issuers while requiring full compliance with Anti-Money Laundering laws.Magazine: SEC’s U-turn on crypto leaves key questions unanswered
Published: 24 minutes ago
What are crypto-backed mortgages, and how do they work?
What are crypto-based mortgages? Crypto-backed mortgages are a kind of loan where borrowers use their cryptocurrency holdings, such as Bitcoin (BTC) or Ether (ETH), as collateral to secure financing for real estate purchases. This approach allows you to access funds without selling your digital assets. By retaining crypto ownership, borrowers can still benefit from future price increases.There are various types of crypto-backed mortgages: purchase mortgages, cash-out refinancing and bridge loans. Purchase mortgages: These help you finance real estate using crypto as collateral. Cash-out refinancing: It allows you to refinance your existing mortgages by leveraging your crypto assets to access additional funds. Bridge loans: These loans provide short-term financing, helping you cover the period between purchasing a new property and selling an existing one.Crypto mortgages are particularly appealing if you want to preserve your holdings while securing real-world assets. However, you need to consider the volatility of cryptocurrencies and carefully assess the risks before opting for a crypto-backed mortgage.Lenders usually accept stablecoins such as Tether (USDt) and USDC (USDC) or major cryptocurrencies like BTC and ETH. Some lenders may accept a diversified portfolio of cryptocurrencies as collateral, which is known as cross-collateralization.Did you know? With traditional mortgages becoming increasingly difficult to obtain, particularly for younger individuals, alternative solutions are gaining traction. Fintech startups are addressing this demand by offering adjustable or fixed-rate mortgages secured by substantial cryptocurrency holdings. Crypto-based mortgages vs traditional mortgages Crypto-backed and traditional mortgages differ from eligibility requirements to risk factors. Traditional mortgages rely on credit history, income verification and down payments, while crypto-backed mortgages use digital assets as collateral. The approval process for crypto mortgages is often faster, but they come with higher interest rates and volatility risks. Additionally, regulatory uncertainties make crypto-backed loans less widely accepted in real estate markets. A comparison of the two mortgage types is given below: How do crypto-backed mortgages work? The basic mechanism of crypto-backed mortgages is that depositors calculate the value of the crypto the borrower proposes to collateralize and release a loan against the amount. To assess the value of the crypto assets, the lenders may apply a loan-to-value (LTV) ratio, which indicates the percentage of the collateral value you can borrow. For example, if the LTV ratio is 50%, you can secure a loan of $25,000 for collateralized crypto assets worth $50,000. Overcollateralization helps to create a buffer, which helps the lender if the value of the collateral goes down. Smart contracts are used to automate the execution of loan terms. Here is a step-by-step look at the functioning of crypto-backed mortgages: Step 1: Find a lender – Look for a financial institution or decentralized finance (DeFi) platform that offers crypto-backed mortgages. Compare different lenders based on their interest rates, fees and supported cryptocurrencies.Step 2: Apply and submit proof of ownership – Submit an application for getting a loan against the crypto you hold. You also need to provide proof of ownership of your digital assets. The lender will assess the worth of your crypto holdings to determine your borrowing limit. Some lenders may consider other financial factors, such as credit history.Step 3: Move crypto to escrow account – Once approved, you need to pledge the required amount of crypto by transferring it into an escrow account. This crypto acts as security for the mortgage loan. Step 4: Prep the loan – Complete the loan agreement, which outlines key terms like repayment schedules, interest rates and what happens if your collateral’s value drops. Usually, if the value of the crypto drops, you will need to deposit more crypto in the escrow account so that the loan remains overcollateralized. If you fail to deposit additional crypto, the lender may liquidate your crypto deposits.Step 5: Disbursal of loan – The loan funds are typically disbursed in fiat currency for purchasing the property.Step 6: Make mortgage payments – Repay the loan according to the agreed terms. The interest rate may differ in line with the market value of the collateralized crypto.Step 7: Recover your collateral – If you complete all payments as per the loan agreement, you will get back your cryptocurrency from escrow. If you fail to repay it, the lender may liquidate your collateral to cover the outstanding amount.Did you know? Freddie Mac data shows that when fixed-rate mortgages were introduced in 1971, interest rates were about 7.5%. However, by 1980, they had dramatically increased to almost 20%. Benefits of crypto-backed mortgages Thanks to crypto-backed mortgages, you can access funds to invest in real estate without selling digital assets. You can leverage your crypto assets to take advantage of real estate market growth. Here are some key benefits of using a crypto-backed mortgage:Faster and simpler process: Compared to traditional mortgages, crypto-backed loans generally have a quicker and more streamlined approval process. Lenders use smart contracts to execute loan terms, making the whole process efficient and without prejudice.Liquidity without selling: You can access funds to invest in real estate without liquidating your crypto holdings. This is particularly beneficial during a real estate market upswing as you can retain your crypto assets while securing finances for real estate investment.Investment growth potential: Crypto-backed mortgages enable you to enjoy double growth. You benefit from appreciation in the prices of the real estate and the growth of your crypto assets.Broader accessibility: Crypto-backed mortgages provide financing opportunities for anyone who lacks traditional credit histories. If you have just settled in a country and don’t have financial records there, crypto-backed loans become a viable option. Tax benefits: Since no assets are sold, you can avoid immediate capital gains tax. This allows you to access value without triggering taxable events. Challenges in crypto-backed mortgages While crypto-backed mortgages offer some unique advantages, they also come with several challenges you must consider. From price volatility to regulatory uncertainties, these factors can impact the feasibility and cost of securing a mortgage with cryptocurrency. Here are some key challenges in crypto mortgaging:Higher costs: Compared to conventional mortgages, crypto-backed loans often have steeper interest rates. Since lenders consider these loans riskier, they set higher costs to protect themselves from potential losses.Price volatility: Cryptocurrencies are highly volatile, meaning their value can fluctuate significantly. If the value of the pledged crypto collateral drops, you may need to add more assets or partially repay the loan to prevent liquidation.Limited market adoption: Many sellers may not be willing to deal with a prospective buyer who has arranged their loan using cryptocurrencies. This might limit your property purchase options.Regulatory uncertainty: The legal framework for crypto-backed mortgages is still evolving. Shifting regulations could impact the availability, terms or tax treatment of these loans, creating uncertainty for borrowers.Did you know? With $12.1 trillion in outstanding mortgage debt spread across 84 million loans, the average American mortgage holder owes $144,593. These home loans represent a massive 70.2% of all consumer debt in the US, highlighting their crucial importance to the nation’s financial health. How to decide on a crypto-backed mortgage? Before deciding on your cryptocurrency-backed mortgage, you need to make a thorough assessment of your financial status and risk tolerance. Begin by analyzing your cryptocurrency portfolio. Determine how much of your holdings you could pledge and consider how these assets may perform in the future. Given the volatility of cryptocurrencies, collateralizing a single asset may be risky. Diversifying your collateral across various cryptocurrencies may help avoid potential losses if prices fluctuate. You also need to carefully analyze the loan terms. Understanding the interest rates, payback plan and any other expenses related to the mortgage is essential. Consider the risks, such as asset liquidation if their value falls dramatically or if you fail to meet repayment terms.As crypto-backed mortgages are a relatively new financial instrument, seeking professional guidance may help if you feel unsure about it. Consulting with financial and real estate experts specializing in crypto lending can assist you in navigating the process, structuring your loan and aligning your mortgage decision with your long-term investment and financial objectives.
Published: 2 hours ago
Vitalik Buterin meows at a robot, and the crypto world loses it
A video of Ethereum co-founder Vitalik Buterin kneeling in front of a robot and seemingly letting out a “meow” sound has gone viral — and, as usual, the crypto industry is already speculating what it might mean for Ether’s future.“The future of Ethereum is in this man’s hands… Meow,” crypto influencer Wendy O said in a March 29 X post. Cork Protocol co-founder Phil Fogel shared the video and commented that “so much” of his professional life and net worth depend on Buterin but reiterated that the entertaining interaction makes him “bullish.”Community links video to Ether price speculationPseudonymous crypto trader Scott Crypto Warrior shared the video with his 514,300 X followers and said, “Pray for our ETH bags.” The short clip shows Buterin on his knees, gesturing at a four-legged robot and letting out what sounds like a “meow” before patting it on the head. At the time of publication, Buterin has yet to address the video on social media himself.Source: RinorMany of those commenting on the video allude to having Ether (ETH) in their portfolio, while its relative strength against Bitcoin (BTC) is at its lowest value in almost five years.Crypto commentator, The Count of Monte Crypto said in a March 29 X post,” Sure, the man is free to do whatever he wants, why should we care, why should we care, however, the fact that a vast majority of my investment relies on this guy is making me a bit stressed.”Pseudonymous crypto trader “sgp” said, “while Ethereum is doing -5% 1-minute candles, Vitalik is busy meowing at a robot.”Source: Ali BryantButerin’s quirky antics have always entertained the crypto industry. At Token2049 Singapore in September 2024, Buterin called out some “cringe” anthems for crypto projects and even started singing on stage, receiving a positive reaction from both the live audience and those on social media.Meanwhile, since Ether reclaimed the $4,000 price level in December 2024, it has dropped nearly 55%. At the time of publication, Ether is trading at $1,841, down 13.34% over the past month, according to CoinMarketCap data.Ether is trading at $1,841 at the time of publication. Source: CoinMarketCapEther sitting below $2,000 has crypto trader Alex Becker convinced it is a prime long-term buying opportunity.Related: Vitalik outlines strategy for scaling Ethereum and strengthening ETH“I can’t fathom looking at a sub $2k ETH and thinking you’re not going to be in big profit sometime in the next 2 years. Easiest asset trade in biblical history right now,” Becker said in a March 29 X post.Meanwhile, Castle Island Ventures’ Nic Carter recently said that Ether’s declining appeal as an investment comes from layer-2s draining value from the main network and a lack of community pushback on excessive token creation.Magazine: Bitcoin ATH sooner than expected? XRP may drop 40%, and more: Hodler’s Digest, March 23 – 29
Published: 5 hours ago
Listing an altcoin traps exchanges on ‘forever hamster wheel’ — River CEO
When a cryptocurrency exchange lists its first altcoin, it sets itself up for an endless cycle of launching memecoins, warns a Bitcoin-only institution executive.“The minute an exchange adds one non-Bitcoin token, they are signing up to be on the forever hamster wheel of memecoins,” River Financial CEO Alex Leishman said in a March 29 X post. “It makes no sense to list ETH if you don’t list the tokens issued on ETH, and the same goes for Solana,” Leishman said. River has no interest in building a “successful crypto casino”Leishman said while there are many “successful crypto casinos,” he has no interest in building one. River Financial is a Bitcoin-only financial institution focusing on buying and selling Bitcoin (BTC). Several companies have opted for the Bitcoin-only approach, including Swan Bitcoin, Bull Bitcoin, and decentralized exchange Bisq.Leishman claimed that multi-asset trading platforms prioritize short-term speculation over wealth accumulation:“The casino business model is built around maximal extraction from customers, and the Bitcoin-only model is focused on helping people build long-term wealth.” Critics have voiced this point before, even during the memecoin uptrend in early 2024. In April 2024, a16z chief technology officer Eddy Lazzarin said that memecoins hamper the long-term vision of crypto that has kept so many of the original builders in the space.“At best, it looks like a risky casino,” Lazzarin said.The memecoin market cap is down 27.94% over the past 12 months. Source: CoinMarketCapThe overall memecoin market cap has taken a significant downturn since the beginning of 2025. Since Jan. 1, the memecoin market cap has slumped almost 49% to $48.49 billion at the time of publication, according to CoinMarketCap data.However, while altcoins have historically been more volatile than Bitcoin, offering them alongside Bitcoin has been a lucrative move for crypto exchanges and brokers. Related: Waiting for altcoin season? Data suggests it’s already hereOn Feb. 12, Robinhood, which offers several cryptocurrencies to its customers, reported a 700% year-over-year surge in Q4 2024 cryptocurrency revenue.Some traders seem to interpret a memecoin listing on an exchange as validation of its credibility. Among the 15 memecoins listed by crypto exchange Binance in 2024, 12 saw significant increases in value after going live on the exchange, pseudonymous onchain analyst Ai_9684xtpa said in November.CoinGecko founder Bobby Ong recently speculated that the memecoin market might be headed toward an “extreme case of power law,” where 99.99% fail and a few rise to the top and endure.Magazine: Arbitrum co-founder skeptical of move to based and native rollups: Steven Goldfeder
Published: 8 hours ago
Here’s what happened in crypto today
Today in crypto, a video of Vitalik Buterin interacting with a robot has caught the crypto industry’s attention, Kalshi prediction market files lawsuits against gaming regulators in New Jersey and Nevada, and David Pakman said a $1 trillion stablecoin supply combined with yield-bearing crypto ETFs may provide the next crypto market catalyst for 2025.Vitalik Buterin meows at a robot, and the crypto world loses itA video of Ethereum co-founder Vitalik Buterin kneeling in front of a robot and seemingly letting out a “meow” sound has gone viral — and, as usual, the crypto industry is already speculating what it might mean for Ether’s future.“The future of Ethereum is in this man’s hands… Meow,” crypto influencer Wendy O said in a March 29 X post. Cork Protocol co-founder Phil Fogel shared the video and commented that “so much” of his professional life and net worth depend on Buterin but reiterated that the entertaining interaction makes him “bullish.”Source: RinorPseudonymous crypto trader Scott Crypto Warrior shared the video with his 514,300 X followers and said, “Pray for our ETH bags.” The short clip shows Buterin on his knees, gesturing at a four-legged robot and letting out what sounds like a “meow” before patting it on the head. At the time of publication, Buterin has yet to address the video on social media himself.Kalshi prediction market files lawsuits against gaming commissions in two US statesKalshi, the onchain prediction market, has filed a lawsuit against gaming regulators in the US states of Nevada and New Jersey after both states sent cease and desist orders for Kalshi to pause its sports event contracts.Additionally, the Nevada Gaming Control Board issued a cease and desist order for Kalshi's election event contracts. The contracts gained popularity during the 2024 elections in the United States.Kalshi lawsuit against Nevada Gaming Control Board. Source: KalshiThe platform's team argued that Kalshi's event contracts, which are two-sided markets trading through swaps, are distinct from sports betting or other types of gambling that rely on the book method controlled by a gaming house.Moreover, Kalshi contends that state-level regulators have no legal jurisdiction over the platform, which is regulated by the United States Commodities Futures Trading Commission (CFTC).$1 trillion stablecoin supply could drive next crypto rally — CoinFund’s PakmanThe global stablecoin supply could surge to $1 trillion by the end of 2025, potentially becoming a key catalyst for broader cryptocurrency market growth, according to David Pakman, managing partner at crypto-native investment firm CoinFund.“We’re in a stablecoin adoption upswell that’s likely to increase dramatically this year,” Pakman said during Cointelegraph’s Chainreaction live show on X on March 27. “We could go from $225 billion stablecoins to $1 trillion just this calendar year.”He noted that such growth, while modest compared to global financial markets, would represent a “meaningfully significant” shift for blockchain-based finance.Pakman also suggested that the rise in capital flowing onchain, combined with growing interest in exchange-traded funds (ETFs), could further support decentralized finance (DeFi) activity:“If we have a moment this year where ETFs are permitted to provide staking rewards or yield to holders, that unlocks really meaningful uplift in DeFi activity, broadly defined.”The aggregate stablecoin supply stood at an all-time high of above $208 billion across the five largest stablecoins on March 28, according to Glassnode data.Stablecoins, aggregate supplies. Source: Glassnode “This is the major catalyst that’s been missing for over a decade: a major movement of people’s wealth onchain that brings everyone else on,” added Pakman.The growing stablecoin supply recently surpassed $219 billion and continues to rise, suggesting that the market is “likely still mid-cycle” as opposed to the top of the bull run, according to IntoTheBlock analysts.
Published: 13 hours ago
Why institutions are hesitant about decentralized finance — Shibtoshi
Shibtoshi, the founder of the SilentSwap privacy-preserving trading platform, outlined several concerns that make institutions hesitant to adopt decentralized finance (DeFi) solutions, including privacy, a lack of standardized compliance regulations, and legal accountability.The DeFi founder told Cointelegraph that the high transparency of onchain transactions presents a problem for companies that must conceal sensitive information, including trading strategies, payroll information, and business-to-business agreements. Shibtoshi said:"The main concerns — regulatory uncertainty, privacy limitations, and complex user experience — are real, but solvable. Innovations in privacy-preserving protocols are making DeFi increasingly compatible with enterprise needs. Platforms like SilentSwap are a step in that direction."Regulatory uncertainty continues to be one of the biggest problems for DeFi and is compounded by a fragmented approach across legal jurisdictions, which prevents institutional adoption, Shibtoshi added.“Are DeFi tokens securities? What happens if a decentralized autonomous organization (DAO) messes up — and who is responsible when it does? It is all still pretty unclear,” the SilentSwap founder told Cointelegraph.Shibtoshi urged common sense regulations that encourage innovation and preserve the value propositions of decentralized finance, including self-custody, speed, and cost-effective transactions.The total value locked across the DeFi ecosystem has not yet returned to peak levels witnessed in 2021 and 2022. Source: DeFiLlamaRelated: Specialized purpose DEXs poised for growth in 2025 — Curve founderUS Congress overturns archaic DeFi rule, but DeFi still in dangerBoth chambers of the United States Congress recently voted to overturn the highly unpopular DeFi broker rule requiring decentralized finance protocols and platforms to report customer transactions to the Internal Revenue Service (IRS).The US Senate repealed the IRS broker rule in a 70 to 27 vote on March 4, followed by members of the US House of Representatives voting to repeal the IRS rule on March 11.Despite the repeal of the archaic rule, overregulation may end up killing a sector that was born as a decentralized, more accessible, and pseudonymous alternative to traditional finance.According to crypto entrepreneur and investor Artem Tolkachev, regulatory compliance is undermining decentralization in DeFi and destroying the value proposition of the nascent sector.The emphasis on regulatory compliance measures increases the potential for censorship and shifts control from the users to third-party intermediaries and large institutions, Tolkachev wrote.Magazine: How Shibtoshi gambled 37 ETH and became a Shiba Inu billionaire
Published: 14 hours ago
US recession 40% likely in 2025, what it means for crypto — Analyst
The United States has a 40% chance of a recession in 2025 amid the potential for a protracted trade war and macroeconomic uncertainty, according to market analyst and Coin Bureau founder Nic Puckrin.In an interview with Cointelegraph, the analyst said that while a recession is not probable, a recession and the current macroeconomic uncertainty will create an environment where risk-on assets like cryptocurrencies suffer. Puckrin said:"Trump and his advisors have said they have not completely dismissed the recession, which means it is definitely possible, but right now, I would not say it is probable, but the odds have climbed a lot."The analyst noted that while US President Donald Trump is not deliberately trying to trigger a recession, certain actions by his administration — such as cutting federal jobs and reducing spending to balance the budget — could unintentionally lead to one.Macroeconomic uncertainty is the primary cause of the recent decline in the US Dollar Index (DXY), as investors shift capital to better opportunities in European capital markets and seek an escape from the economic uncertainty currently plaguing US markets, Puckrin told Cointelegraph.The DXY, which tracks the strength of the US dollar, took a nosedive in March 2025. Source: TradingViewRelated: Timeline: How Trump tariffs dragged Bitcoin below $80KTrade war fears drag the price of Bitcoin downPresident Trump’s tariffs on US trading partners sent a shockwave through the crypto markets, leading to a steep decline in altcoin prices and a 24% correction in Bitcoin's (BTC) price from the Jan. 20 high of over $109,000.The tariffs and fears of a prolonged trade war also reoriented market sentiment toward extreme fear — a sharp contrast from the euphoric highs felt after the re-election of Donald Trump in the United States in November 2025 and the Jan. 20 inauguration.The price of Bitcoin has been struggling amid the trade war headlines and is currently trading below its 200-day exponential moving average (EMA). Source: TradingViewAccording to Nansen research analyst Nicolai Sondergaard, crypto markets will feel the pressure of tariffs until April 2025.If countries can successfully negotiate an end to the tariffs or the Trump administration softens its stance, then markets will recover, the analyst added.10x Research founder Markus Thielen recently said that BTC formed a price bottom in March 2025, as US President Donald Trump softened the rhetoric around trade tariffs — signaling a potential price reversal.Magazine: Bitcoiners are ‘all in’ on Trump since Bitcoin ’24, but it’s getting risky
Published: 15 hours ago
Potential Bitcoin price fall to $65K ‘irrelevant’ since central bank liquidity is coming — Analyst
Bitcoin's (BTC) 7% decline saw the price drop from $88,060 on March 26 to $82,036 on March 29 and led to $158 million in long liquidations. This drop was particularly concerning for bulls, as gold surged to a record high at the same time, undermining Bitcoin’s “digital gold” narrative. However, many experts argue that a Bitcoin rally is imminent as multiple governments take steps to avert an economic crisis.The ongoing global trade war and spending cuts by the US government are considered temporary setbacks. An apparent silver lining is the expectation that additional liquidity is expected to flow into the markets, which could boost risk-on assets. Analysts believe Bitcoin is well-positioned to benefit from this broader macroeconomic shift.Source: MihaimihaleTake, for example, Mihaimihale, an X social platform user who argued that tax cuts and lower interest rates are necessary to “kickstart” the economy, particularly since the previous year’s growth was “propped up” by government spending, which proved unsustainable.The less favorable macroeconomic environment pushed gold to a record high of $3,087 on March 28, while the US dollar weakened against a basket of foreign currencies, with the DXY Index dropping to 104 from 107.40 a month earlier.Additionally, the $93 million in net outflows from spot Bitcoin exchange-traded funds (ETFs) on March 28 further weighed on sentiment, as traders acknowledged that even institutional investors are susceptible to selling amid rising recession risks.US inflation slows amid economic recession fearsThe market currently assigns a 50% probability that the US Federal Reserve will cut interest rates to 4% or lower by July 30, up from 46% a month earlier, according to the CME FedWatch tool.Implied rates for Fed Funds on July 30. Source: CME FedWatchThe crypto market is presently in a “withdrawal phase,” according to Alexandre Vasarhelyi, the founding partner at B2V Crypto. Vasarhelyi noted that recent major announcements, such as the US strategic Bitcoin reserve executive order mark progress in the metric that matters the most: adoption.Vasarhelyi said real-world asset (RWA) tokenization is a promising trend, but he believes its impact remains limited. “BlackRock’s billion-dollar BUIDL fund is a step forward, but it’s insignificant compared to the $100 trillion bond market.” Vasarhelyi added:“Whether Bitcoin’s floor is $77,000 or $65,000 matters little; the story is early-stage growth.”Gold decouples from stocks, bonds and BitcoinExperienced traders view a 10% stock market correction as routine. However, some anticipate a decline in “policy uncertainty” by early April, which would reduce the likelihood of a recession or bear market.Source: WarrenPiesWarren Pies, founder of 3F Research, expects the US administration to soften its stance on tariffs, which could stabilize investor sentiment. This shift may help the S&P 500 stay above its March 13 low of 5,505. However, market volatility remains a factor as economic conditions evolve.Related: Bitcoin price falls toward range lows, but data shows ‘whales going wild right now’For some, the fact that gold decoupled from the stock market while Bitcoin succumbed to “extreme fear” is evidence that the digital gold thesis was flawed. However, more experienced investors, including Vasarhelyi, argue that Bitcoin’s weak performance reflects its early-stage adoption rather than a failure of its fundamental qualities.Vasarhelyi said,“Legislative shifts pave the way for user-friendly products, trading some of crypto’s flexibility for mainstream appeal. My take is adoption will accelerate, but 2025 remains a foundation year, not a tipping point.”Analysts view the recent Bitcoin correction as a reaction to recession fears and the temporary tariff war. However, they expect these factors to trigger expansionist measures from central banks, ultimately creating a favorable environment for risk-on assets, including Bitcoin.This article is for general information purposes and is not intended to be and should not be taken as legal or investment advice. The views, thoughts, and opinions expressed here are the author’s alone and do not necessarily reflect or represent the views and opinions of Cointelegraph.
Published: 17 hours ago
Kalshi sues Nevada and New Jersey gaming regulators
Prediction market platform Kalshi has filed a lawsuit against the Nevada Gaming Control Board and the New Jersey Division of Gaming Enforcement, following cease and desist orders from both regulators directing the company to halt all sports-related contracts within their states.Kalshi’s legal team argued that the contracts fall under the jurisdiction of the Commodity Futures Trading Commission (CFTC) and, therefore, cannot be regulated by state-level authorities.The team also contends that the cease and desist orders fail to recognize that Kalshi’s event contracts are two-sided markets that trade as swaps as opposed to the sports-betting book model where the house controls the market. Kalshi co-founder Tarek Mansour said:"Prediction markets are a critical innovation of the 21st century, and like all innovations, they are initially misunderstood. We are proud to be the company that has pioneered this technology and stand ready to defend it once again in a court of law.”Additionally, the Nevada Gaming Control Board sent Kalshi a cease and desist order for its election contracts, which a United States judge ruled were legal in September 2024 — allowing the contracts to trade freely in the US.Kalshi lawsuit against Nevada Gaming Control Board. Source: KalshiRelated: Massachusetts subpoenas Robinhood over sports prediction marketsCFTC commits to ending regulation by enforcementOn Feb. 4, acting CFTC director Caroline Pham issued a notice signaling a major regulatory pivot at the CFTC and ending regulation through enforcement actions, choosing to focus on fraud instead.“The CFTC is strengthening its enforcement program to focus on victims of fraud, as well as remaining vigilant for other violations of law," Pham saidThis major change at the CFTC was welcomed by industry firms as a breath of fresh air following a torrent of regulatory lawsuits and enforcement actions under the Biden administration.The regulator also initiated a probe into Super Bowl event contracts offered by Kalshi and Crypto.Com on the same day the notice was sent out.The goal of the CFTC's probe was to ensure that the Super Bowl event contracts complied with existing derivatives laws in the US, and the CFTC ultimately took no action to ban the contracts.Magazine: Train AI agents to make better predictions… for token rewards
Published: 19 hours ago
How low can the Bitcoin price go?
Bitcoin (BTC) price has declined by more than 6.5% over the last two days after rallying to $88,000 at the beginning of the week.Data from Cointelegraph Markets Pro and TradingView shows that the price of Bitcoin dropped from a high of $87,500 on March 28 to an intra-day low of $81,900 on March 29.BTC/USD daily chart. Source: Cointelegraph/TradingViewBitcoin’s price drop coincides with a marketwide drawdown fueled by uncertainties over Trump’s trade tariffs and poor economic data. The ensuing sell-off in stocks has left market participants wondering how much deeper the drawdown can go.Bitcoin wipes out liquidity in tumble to $81,000BTC continued mounting losses on March 29, down 3% over the last 24 hours to trade just above $82,000.Key points:BTC price fell as low as $81,983 on Bitstamp, wiping out all the gains from earlier this week.This came as US inflation data came in hotter than expected.The February US Personal Consumption Expenditures (PCE) Index reading showed inflation quickening — in contrast to the January print.While the month-on-month and year-on-year PCE tally met market expectations of 0.3% and 2.5%, respectively, their core PCE equivalents were both 0.1% higher than anticipated.The implementation of broad-scale US tariffs next week—the so-called Liberation Day on April 2—also compounded investor concerns across markets.24-hour crypto market liquidations hit $338 million, per data from monitoring resource CoinGlass.Bitcoin wiped out more than $165 million in long positions between March 28 and March 29.Crypto liquidations (screenshot). Source: CoinGlassAdditional data from CoinGlass showed intensive bands of buyer interest within the $70,000-$80,000 range in the six-month timeframe.This suggests that Bitcoin’s price might drop further to sweep the liquidity within this range before staging a sustained recovery.BTC/USDT liquidation heatmap (screenshot). Source: CoinGlassIn the short term, Bitcoin appears to have taken out “a lot of liquidity,” with a local bottom sitting within the $82,000 and $80,000 range, according to analyst Stockmoney Lizards.With major short liquidation levels sitting above $88,000, the analyst said that Bitcoin could be experiencing a classic weekend correction with a possible reversal next week.“Typical weekend dump with next week’s reversal? At least, this is a possible scenario.”Related: Bitcoin price falls toward range lows, but data shows ‘whales going wild right now’Bitcoin bear flag hints at $62,000From a technical perspective, BTC’s price decline on March 29 is part of its prevailing bear flag pattern.Key points:A bear flag suggests a continuation of the bearish momentum, with sellers taking control.A temporary consolidation (flag) formed near $88,000, indicating a failed breakout attempt.Bitcoin broke below key support levels, including the lower boundary of the flag at $85,800 at the 200-day simple moving average (SMA).This confirmed the bear flag breakdown, pointing to more losses.ETH/USD daily chart. Source: Cointelegraph/TradingViewThe measured move target from the pattern suggests a potential decline toward $62,000, representing a 25% decline from the current level.The relative strength index remains below the mid-line, reinforcing the bearish momentum.Founder of MN Capital, Michael van de Poppe, argued that Bitcoin will likely some more downward momentum as the trend remains lower. He adds that the price could retest the lows at $76,600 “before going back upward.”It seems to be vital that we're seeing some more downwards momentum on the markets for #Bitcoin.Trend is still lower highs and lower lows.Test at the lows before reversing back up? pic.twitter.com/8ULlJqoGRh— Michaël van de Poppe (@CryptoMichNL) March 28, 2025According to macroeconomic market analyst Capital Flows, however, Bitcoin could correct to the $72,000-$75,000 region if liquidity conditions remain unchanged.Meanwhile, veteran trader Peter Brandt believes Bitcoin is on a path to $65,635 after confirming a “bear wedge” pattern. This article does not contain investment advice or recommendations. Every investment and trading move involves risk, and readers should conduct their own research when making a decision.
Published: 19 hours ago
The future of finance is built on Bitcoin — Ethereum was just the testnet
Opinion by: Alisia Painter, chief operating officer of Botanix LabsWithout Ethereum, the industry wouldn’t be where it is today in terms of bringing decentralized finance (DeFi) to life, making programmability a key feature of blockchains and proving the value of smart contracts at scale. The Ethereum Virtual Machine has become the go-to platform for developers, with the largest ecosystem and tooling. As DeFi matures, however, it’s worth asking: Is Ethereum the best foundation for the future of financial innovation? Well, the answer might just be Bitcoin.With nearly $6 billion in total value locked as of March 2025, Bitcoin’s decentralization, liquidity and resilience position it as the natural home for the next era of onchain finance, and while Ethereum’s flexibility has enabled an explosion of experimentation, that same flexibility has come with trade-offs. From vulnerabilities in smart contracts we’ve seen in big-name hacks to ongoing debates around scalability, Ethereum’s experimental ethos has left cracks in its foundation. By contrast, Bitcoin offers a solid, battle-tested infrastructure where DeFi can flourish sustainably and cross the chasm from degens into mainstream adoption.Ethereum’s contribution and limitationsEthereum was responsible for pioneering what we know to be DeFi today. This innovation and development served as a testing ground for what Bitcoin is capable of and can ultimately achieve. Its programmability has empowered developers to create everything from automated lending platforms to sophisticated derivatives. These products exist solely because of Ethereum’s smart contract capabilities.With that flexibility came serious trade-offs, and we’ve seen them play out in real-time. The DAO hack in 2016 drained $50 million and nearly killed Ethereum in its infancy. The 2022 Wormhole exploit cost $325 million in recent years, and the Ronin Bridge hack took $620 million. These weren’t just bad luck — they’re the predictable result of Ethereum’s open-ended programmability. Smart contracts are powerful, but they’re also complex. Complexity breeds vulnerability. Solidity simply wasn’t designed with security as the primary consideration.Recent: Ethereum researcher pitches solution to fix centralization woes, eliminate MEVAt the same time, Ethereum’s scaling challenges have made it increasingly inaccessible. Network congestion and gas fees soaring to hundreds of dollars during peak periods have effectively locked out average users. Seasoned users will be very well accustomed to the eye-watering gas fees required just to make basic swaps during times of high network congestion. Layer-2 solutions like Optimism and Arbitrum have made great progress, but they fragment liquidity and introduce their own trust assumptions.This isn’t to say Ethereum is failing. It’s not. As DeFi matures beyond its experimental phase and becomes more mainstream in global finance, we need to ask whether it makes sense to keep building on this foundation or to consider a more resilient alternative.Why Bitcoin?Bitcoin’s design philosophy is radically different. It isn’t a platform for unlimited experimentation; it’s a fortress of stability. Its conservative development ethos and proof-of-work consensus make Bitcoin the most secure blockchain in existence. This security translates into trust — a critical ingredient for DeFi applications handling billions of dollars in value.Liquidity is another advantage Bitcoin offers. With a market capitalization that dwarfs Ether’s (ETH), Bitcoin (BTC) is the most liquid cryptocurrency, making it an ideal base layer for DeFi. The rise of technologies like Bitcoin’s Lightning Network and sidechains like Spiderchain are already unlocking Bitcoin’s potential for smart contracts, offering the programmability developers need without sacrificing security or scalability.Not all Bitcoin projects are created equal Many so-called Bitcoin L2s and sidechains claim to be “Bitcoin native,” offering applications the promise of leveraging Bitcoin’s intrinsic security properties.Let’s set the record straight: Many aren’t truly Bitcoin-native.Without pointing fingers, these projects often rely on custodial multisig setups, bridge Bitcoin to Ethereum or another chain, and then build rollups on top. While there’s nothing inherently wrong with this approach, and there will be use cases that work with this set of trust assumptions, it’s not the same as being natively built on Bitcoin. True Bitcoin L2s are designed directly on Bitcoin, tapping into its liquidity, security and resilience — qualities that have withstood the test of time. If we want to expand DeFi capabilities, we must build them on Bitcoin. It’s a straightforward ask, but one worth reiterating as we see major players exploring paths that may not fully align with Bitcoin’s potential.The path forwardThe debate shouldn’t be framed as Ethereum versus Bitcoin. That’s a false binary. Ethereum’s innovation-first approach has been crucial in proving what’s possible, and it remains an essential hub of DeFi experimentation. Bitcoin offers something Ethereum doesn’t: a foundation that has already earned the trust of the broader financial world.Users shouldn’t have to choose between security and functionality. Bitcoin’s resilience is combined with sophisticated financial tools similar to those pioneered by Ethereum. Some of the most exciting work happening now is at this intersection.For DeFi to fulfill its promise of creating a fair, open and inclusive financial system, it must move beyond its experimental phase. It must be secure enough that average people can use it without fear of losing everything to an exploit. It needs liquidity deep enough to support real-world financial activity. And it requires the kind of institutional trust that only Bitcoin has achieved.The future of finance will be built on Bitcoin not because Ethereum failed but because Bitcoin provides the foundation that finance demands.Opinion by: Alisia Painter, chief operating officer of Botanix LabsThis article is for general information purposes and is not intended to be and should not be taken as legal or investment advice. The views, thoughts, and opinions expressed here are the author’s alone and do not necessarily reflect or represent the views and opinions of Cointelegraph.
Published: 20 hours ago
Bitcoin adoption in EU limited by ‘fragmented’ regulations — Analysts
Institutional adoption of Bitcoin in the European Union remains sluggish, even as the United States moves forward with landmark cryptocurrency regulations that seek to establish BTC as a national reserve asset.More than three weeks after President Donald Trump’s March 7 executive order outlined plans to use cryptocurrency seized in criminal cases to create a federal Bitcoin (BTC) reserve, European companies have largely remained silent on the issue.The stagnation may stem from Europe’s complex regulatory regime, according to Elisenda Fabrega, general counsel at Brickken, a European real-world asset (RWA) tokenization platform.“European corporate adoption remains limited,” Fabrega told Cointelegraph, adding:“This hesitation reflects a deeper structural divide, rooted in regulation, institutional signaling and market maturity. Europe has yet to take a definitive stance on Bitcoin as a reserve asset.”Bitcoin’s economic model favors early adopters, which may pressure more investment firms to consider gaining exposure to BTC. The asset has outperformed most major global assets since Trump’s election despite a recent correction.Asset performance since Trump’s election victory. Source: Thomas FahrerDespite Trump’s executive order, only a small number of European companies have publicly disclosed Bitcoin holdings or crypto services. These include French banking giant BNP Paribas, Swiss firm 21Shares AG, VanEck Europe, Malta-based Jacobi Asset Management and Austrian fintech firm Bitpanda.A recent Bitpanda survey suggests that European financial institutions may be underestimating crypto investor demand by as much as 30%.Related: Friday’s US inflation report may catalyze a Bitcoin April rallyEurope’s “fragmented” regulatory landscape lacks clarityThe EU’s slower adoption appears tied to its patchwork of regulations and more conservative investment mandates, analysts at Bitfinex told Cointelegraph. “Europe’s institutional landscape is more fragmented, with regulatory hurdles and conservative investment mandates limiting Bitcoin allocations.”“Additionally, European pension funds and large asset managers have been slower to adopt Bitcoin exposure due to unclear guidelines and risk aversion,” they added.Related: Bitcoin ‘more likely’ to hit $110K before $76.5K — Arthur HayesBeyond the fragmented regulations, European retail investor appetite and retail participation are generally lower than in the US, according to Iliya Kalchev, dispatch analyst at digital asset investment platform Nexo.Europe is “generally more conservative in adopting new financial instruments,” the analyst told Cointelegraph, adding:“This stands in stark contrast to the deep, liquid, and relatively unified US capital market, where the spot Bitcoin ETF rollout was buoyed by strong retail demand and a clear regulatory green light.”iShares Bitcoin ETP listings. Source: BlackRockBlackRock, the world’s largest asset manager, launched a Bitcoin exchange-traded product (ETP) in Europe on March 25, a development that may boost institutional confidence among European investors.Magazine: Bitcoiner sex trap extortion? BTS firm’s blockchain disaster: Asia Express
Published: 21 hours ago
Sonic Labs ditch algorithmic USD stablecoin for UAE dirham alternative
Sonic Labs has canceled plans to launch a US dollar-pegged algorithmic stablecoin, opting instead to develop a United Arab Emirates dirham-denominated alternative.On March 22, Sonic Labs co-founder Andre Cronje said the company was working on a US dollar-pegged algorithmic stablecoin with an annual percentage rate (APR) of up to 23%, Cointelegraph reported.However, one week later, the firm reversed course.“We will no longer be releasing a USD-based algorithmic stablecoin,” Cronje said in a March 28 X post. “Completely unrelated, we will be releasing a mathematically bound numerical Dirham, which is settled and denominated in USD, which is definitely not a USD-based algorithmic stablecoin.”The shift in strategy comes shortly after the UAE announced it would launch its digital dirham central bank digital currency (CBDC) in the fourth quarter of 2025.Source: Andre CronjeKhaled Mohamed Balama, governor of the Central Bank of the UAE, said the blockchain-based dirham could enhance financial stability and help combat financial crime. The digital currency will be accepted alongside its physical counterpart in all payment channels, according to a report from the Khaleej Times.Related: Paolo Ardoino: Competitors and politicians intend to ‘kill Tether’Sonic faced criticism over stablecoin plansThe reversal follows widespread criticism of Sonic’s original plan to launch an algorithmic stablecoin — a model that has raised concerns across the crypto industry since the collapse of the Terra ecosystem in 2022.Cronje himself previously admitted to experiencing Post-traumatic stress disorder (PTSD) related to algorithmic stablecoin due to previous cycles:“Pretty sure our team cracked algo stable coins today, but previous cycle gave me so much PTSD not sure if we should implement.”In May 2022, the $40 billion Terra ecosystem collapsed, erasing tens of billions of dollars of value in a matter of days. Terra’s algorithmic stablecoin, TerraUSD (UST), had been yielding an over 20% annual percentage yield (APY) on Anchor Protocol prior to its collapse.As UST lost its dollar peg, crashing to a low of around $0.30, Terraform Labs co-founder Do Kwon took to X (then Twitter) to share his rescue plan. At the same time, the value of sister token LUNA — once a top 10 crypto project by market capitalization — plunged over 98% to $0.84. LUNA was trading north of $120 in early April 2022.Related: Tether’s US treasury holdings surpass Canada, Taiwan, ranks 7th globallyThe collapse of the algorithmic stablecoin issuer created shockwaves among both crypto investors and lawmakers.To reduce systemic risk, the European Union’s Markets in Crypto-Assets Regulation (MiCA) bill will prohibit algorithmic stablecoins to avoid another Terra-like failure.Meanwhile, stablecoins are increasingly being used for smaller, everyday payments rather than large transfers, according to CoinFund managing partner David Pakman.“We’ve seen a significant decrease in the size of each stablecoin transaction, which points to the fact that they are being used more as payments and less for large transfers,” Pakman said during Cointelegraph’s Chainreaction live show on X on March 27.Magazine: Ripple says SEC lawsuit ‘over,’ Trump at DAS, and more: Hodler’s Digest, March 16 – 22
Published: 23 hours ago
$1T stablecoin supply could drive next crypto rally — CoinFund’s Pakman
The global stablecoin supply could surge to $1 trillion by the end of 2025, potentially becoming a key catalyst for broader cryptocurrency market growth, according to David Pakman, managing partner at crypto-native investment firm CoinFund.“We’re in a stablecoin adoption upswell that’s likely to increase dramatically this year,” Pakman said during Cointelegraph’s Chainreaction live show on X on March 27. “We could go from $225 billion stablecoins to $1 trillion just this calendar year.” He noted that such growth, while modest compared to global financial markets, would represent a “meaningfully significant” shift for blockchain-based finance.Pakman also suggested that the rise in capital flowing onchain, combined with growing interest in exchange-traded funds (ETFs), could further support decentralized finance (DeFi) activity:“If we have a moment this year where ETFs are permitted to provide staking rewards or yield to holders, that unlocks really meaningful uplift in DeFi activity, broadly defined.”https://t.co/v9lOnk00QY— Cointelegraph (@Cointelegraph) March 27, 2025Related: BlackRock Bitcoin ETP ‘key’ for EU adoption despite low inflow expectationsThe aggregate stablecoin supply stood at an all-time high of above $208 billion across the five largest stablecoins on March 28, according to Glassnode data.Stablecoins, aggregate supplies. Source: Glassnode “This is the major catalyst that’s been missing for over a decade: a major movement of people’s wealth onchain that brings everyone else on,” added Pakman.The growing stablecoin supply recently surpassed $219 billion and continues to rise, suggesting that the market is “likely still mid-cycle” as opposed to the top of the bull run, according to IntoTheBlock analysts.Related: Most EU banks fail to meet rising crypto investor demand — SurveyStablecoin payment adoption on the riseStablecoins use for daily payments is on the rise, illustrating the efficacy of blockchain-based transactions.“We’re up over 22x in stablecoin volume since 2021,” Pakman said, adding:“We’ve seen a significant decrease in the size of each stablecoin transaction, which points to the fact that they are being used more as payments and less for large transfers.”BTC-to-stablecoin ratio. Source: Ki Young JuThat aligns with recent comments from CryptoQuant founder and CEO Ki Young Ju, who said stablecoins are increasingly being used for remittance payments and as a store of value. However, Ju said stablecoin supply won’t pump Bitcoin’s (BTC) price without additional catalysts.Magazine: Bitcoin $500K prediction, spot Ether ETF ‘staking issue’— Thomas Fahrer, X Hall of Flame
Published: 1 day ago
NAYG lawsuit against Galaxy was ‘lawfare, pure and simple’ — Scaramucci
The New York State Attorney General’s (NAYG) recent legal action against Galaxy Digital over its promotional ties to the now-collapsed cryptocurrency Terra (LUNA) was unfair and an abuse of the legal system, says SkyBridge Capital and founder Anthony Scaramucci.“It’s LAWFARE, pure and simple due to an obscure but dangerously powerful New York law known as the Martin Act,” Scaramucci said in a March 28 X post.Martin Law can “open the door for abuse”“The law has no need to prove intent, creating a low standard of proof that can open the door for abuse like this. It shouldn’t exist,” he said.New York’s Martin Act is one of the US's strictest anti-fraud and securities laws, allowing prosecutors the power to pursue financial fraud cases without needing to prove intent. The NAYG alleged that Galaxy Digital violated the Martin Act over its alleged promotion of Terra, with Galaxy Digital agreeing to a $200 million settlement.According to NAYG documents filed on March 24, Galaxy Digital acquired 18.5 million LUNA tokens at a 30% discount in October 2020, then promoted them before selling them without abiding by disclosure rules. Scaramucci reiterated that Galaxy CEO Michael Novogratz was under the impression everything he was saying about Luna was true, as he had been deceived by Terraform Labs and its former CEO, Do Kwon.Source: Amanda FischerMeanwhile, MoonPay president of enterprise, Keith Grossman, said he had never heard of the Martin Act and had to look it up using AI chatbot ChatGPT.“It is so broad and essentially is the essence of lawfare,” Grossman said. “Sorry you got caught in the crosshairs of it, Mike,” he added.Related: Sonic unveils high-yield algorithmic stablecoin, reigniting Terra-Luna ‘PTSD’The filing alleged that Galaxy helped a “little-known” token, referring to LUNA, increase its market price from $0.31 in October 2020 to $119.18 in April 2022 while “profiting in the hundreds of millions of dollars.”Asset manager and investor Anthony Pompliano said he isn’t familiar with the details of the lawsuit but vouched for Novogratz, calling him a “good man” who has devoted a lot of time and money to helping others.The Terra collapse is one of the crypto industry’s most infamous failures. In March 2024, SEC attorney Devon Staren said in the US District Court for the Southern District of New York that Terra was a “house of cards” that collapsed for investors in 2022.Magazine: Arbitrum co-founder skeptical of move to based and native rollups: Steven Goldfeder
Published: 1 day ago
Greedy L2s are the reason ETH is a ‘completely dead’ investment: VC
Ether's (ETH) declining appeal as an investment comes from layer-2s draining value from the main network and a lack of community pushback on excessive token creation, a crypto venture capitalist says.“The #1 cause of this is greedy Eth L2s siphoning value from the L1 and the social consensus that excess token creation was A-OK,” Castle Island Ventures partner Nic Carter said in a March 28 X post.Ether “died by its own hand”“ETH was buried in an avalanche of its own tokens. Died by its own hand,” Carter said. He said this in response to Lekker Capital founder Quinn Thompson’s claim that Ether is “completely dead” as an investment.Source: Quinn Thompson“A $225 billion market cap network that is seeing declines in transaction activity, user growth and fees/revenues. There is no investment case here. As a network with utility? Yes. As an investment? Absolutely not,” Thompson said in a March 28 X post. The ETH/BTC ratio — which shows Ether’s relative strength compared to Bitcoin (BTC) — is sitting at 0.02260, its lowest level in nearly five years, according to TradingView data. At the time of publication, Ether is trading at $1,894, down 5.34% over the past seven days, according to CoinMarketCap data.Ether is down 17.94% over the past 30 days. Source: CoinMarketCapMeanwhile, Cointelegraph Magazine reported in September 2024 that fee revenue for Ethereum had “collapsed” by 99% over the previous six months as “extractive L2s” absorbed all the users, transactions and fee revenue while contributing nothing to the base layer. Around the same time, Cinneamhain Ventures partner Adam Cochran said Based Rollups could solve the issue of Ethereum’s layer-2 networks pulling liquidity and revenue from the blockchain’s base layer.Cochran said Based Rollups could “directly impact the monetization of Ethereum by making a pretty fundamental change to incentive structures.”Related: Ethereum futures premium hits 1+ year low — Is it time to buy the ETH bottom?Despite optimism toward the end of last year about Ether reaching $10,000 in 2025 — especially after reaching $4,000 in December, the same month Bitcoin touched $100,000 for the first time — it has since seen a sharp decline alongside the broader crypto market downturn.Standard Chartered added to the bearish outlook via a March 17 client letter, which revised down their end of 2025 ETH price estimate from $10,000 to $4,000, a 60% reduction. However, several crypto traders, including pseudonymous traders Doctor Profit and Merlijn The Trader, are “insanely bullish” and argue that Ether could be the “best opportunity in the market.”Source: Merlijn The TraderMagazine: Arbitrum co-founder skeptical of move to based and native rollups: Steven Goldfeder
Published: 1 day ago
Elon Musk’s sale of X to xAI just made fraud lawsuit ’a lot spicer’
Billionaire investor Elon Musk has sold his social media platform X to his AI startup xAI, sparking controversy as it coincides with a US judge rejecting his bid to dismiss a lawsuit tied to the social media platform.The transfer of ownership of X to xAI on March 28 means that the class-action lawsuit against Musk — accusing him of defrauding former Twitter shareholders by delaying the disclosure of his initial investment in the social media platform — has become “a whole lot spicer,” Cinneamhain Ventures partner Adam Cochran said in a March 28 X post.Acquisition may open xAI up to more “exposure”On the same day that Musk said “xAI has acquired X in an all-stock transaction,” a US judge reportedly rejected Musk’s attempt to dismiss the lawsuit. Cochran said it has “opened up his AI entity to exposure here too, and it’s a much bigger pie.”Source: GrokMusk said the deal values xAI at $80 billion and X at $33 billion, factoring in $12 billion in debt from the $45 billion valuation. He originally bought X, formerly Twitter, for around $44 billion in April 2022.“xAI and X’s futures are intertwined. Today, we officially take the step to combine the data, models, compute, distribution and talent,” Musk said.Source: Bryan Rosenblatt“This combination will unlock immense potential by blending xAI’s advanced AI capability and expertise with X’s massive reach,” he said, adding:“This will allow us to build a platform that doesn’t just reflect the world but actively accelerates human progress.”However, Cochran claimed that “Musk used his pumped up xAI stock to pay multiple times over value for X, but still take an $11B loss on the transaction.” He said that Musk is “screwing over xAI investors, and X investors” and was executed to sell user data to xAI.Related: Elon Musk’s ‘government efficiency’ team turns its sights to SEC — ReportxAI is best known for its AI chatbot “Grok” which is built into the X platform. When Musk released it in November 2023, he claimed it could outperform OpenAI’s first iteration of ChatGPT in several academic tests.Source: Raoul PalMusk explained at the time that the motivation behind building Grok was to create AI tools equipped to assist humanity by empowering research and innovation.While Cochran said that Grok’s valuation at $80 billion is an “insanely dumb valuation,” crypto developer “Keef” disagrees. Keef said: “This is shady all around, but given the day, Grok is genuinely probably the top model for various tasks.”Magazine: Arbitrum co-founder skeptical of move to based and native rollups: Steven Goldfeder
Published: 1 day ago
Zhao pledges BNB for Thailand, Myanmar disaster relief
Binance co-founder Changpeng “CZ” Zhao is donating 500 BNB (BNB) each to Thailand and Myanmar following a 7.7 magnitude earthquake that caused severe damage to buildings and widespread flooding.Zhao plans to distribute the funds through Binance and Binance Thailand if a third-party onchain donation platform cannot be found to distribute the disaster relief funds.“I hope everyone is safe in Thailand,” the Binance founder wrote in a March 28 X post before announcing the contributions to both countries affected by the earthquake.According to The Guardian, at least 144 people are confirmed to have died as a result of the catastrophic earthquake as first responders in both countries continue rescue efforts to free people trapped under rubble.Source: CZRelated: Thailand regulator approves USDT, USDC stablecoinsDisaster strikes Myanmar and ThailandThe earthquake struck on March 28 at approximately 1:20 PM local time. The epicenter of the earthquake was approximately 10 miles from Mandalay — the second-largest city in Myanmar.The death toll in both countries is expected to rise as relief efforts continue, with 732 individuals reportedly injured as a result of the earthquake.Myanmar’s junta chief Min Aung Hlaing has called upon any country willing to help with the disaster relief efforts to provide any aid it can.Crypto donations amplify aid during times of crisis The cross-border efficiencies, low transaction costs, and near-instant settlement times of cryptocurrencies make digital assets an ideal medium for disaster relief funds.Following a 7.8 magnitude earthquake that impacted Turkey and Syria in February 2023, philanthropist Haluk Levent began collecting crypto disaster relief donations.The Giving Block, a company that works with nonprofit organizations to facilitate crypto donations, also used crypto to raise funds for the victims of the Maui wildfires in 2023 and managed to give over $1 million to the relief effort.More recently, in January, The Giving Block started an emergency relief fundraiser for those impacted by the California wildfires in Los Angeles and the surrounding areas.At the time of this writing, the organization has raised over $1 million for the California wildfire relief fund.Magazine: Crypto is changing how humanitarian agencies deliver aid and services
Published: 2 days ago
Senators press regulators on Trump’s WLFI stablecoin
Five Democratic lawmakers in the US Senate have called on leadership at regulatory agencies to consider the potential conflicts of interest from a stablecoin launched by World Liberty Financial (WLFI), the crypto firm backed by US President Donald Trump’s family.In a March 28 letter from the US Senate Banking Committee, Massachusetts Senator Elizabeth Warren and four other Democrats asked the Federal Reserve’s committee chair on supervision and regulation, Michelle Bowman, and acting comptroller of the currency, Rodney Hood, how they intended to regulate WLFI and its stablecoin, USD1.March 28 letter from five Democratic senators to OCC, Fed leadership. Source: US Senate Banking CommitteeThe letter came as members of Congress are considering legislation to regulate stablecoins through the Guiding and Establishing National Innovation for US Stablecoins, or GENIUS Act. The bill, if signed into law, would essentially allow the Office of the Comptroller of the Currency (OCC) and Federal Reserve to oversee stablecoin regulation, including for issuers like WLFI and its USD1 coin. Trump also signed an executive order in February attempting to have all federal agencies — purportedly including the OCC — “regularly consult with and coordinate policies and priorities” with White House officials, giving the US president unprecedented control. “President Trump’s involvement in this venture, as he strips financial regulators of their independence and Congress simultaneously considers stablecoin legislation, presents an extraordinary conflict of interest that could create unprecedented risks to our financial system and to the integrity of decisions made by the [Fed and OCC],” said the letter, adding: “The launch of a stablecoin directly tied to a sitting President who stands to benefit financially from the stablecoin’s success presents unprecedented risks to our financial system.”Related: Trump’s USD1 stablecoin deepens concerns over conflicts of interestSince World Liberty launched in September 2024 — months before the US election and Trump’s inauguration — many of the firm’s goals have been shrouded in secrecy. The project’s website notes that Trump and some of his family members control 60% of the company’s equity interests. As of March 14, World Liberty had completed two public token sales, netting the company a combined $550 million. On March 24, the project confirmed launching its first stablecoin on the BNB Chain and Ethereum. The president’s son, Donald Trump Jr., also pitched USD1 from the DC Blockchain Summit on March 26 with three of WLFI’s co-founders.Magazine: Trump’s crypto ventures raise conflict of interest, insider trading questions
Published: 2 days ago
Bitcoin price falls toward range lows, but data shows ‘whales going wild right now’
Bitcoin price extended its decline on March 28, falling for a fourth consecutive day to paint an intra-day low of $83,387. BTC’s (BTC) decline mirrored the Wall Street sell-off, where the DOW closed 700 points lower, alongside the S&P 500 index, which dropped 112 points. The sell-off in equities is widely attributed to investors increasing worries over inflation after the core Personal Consumption Expenditures index data from February rose to 2.8% (a 0.4% monthly increase), which was higher than expected. S&P 500 drops $1 trillion in market cap value. Source: X / The Kobeissi LetterThe sell-off was further amplified by the markets’ response to US President Trump’s newly levied “reciprocal tariffs,” which applied a 25% tariff to “all cars that are not made in the United States.” The chances for a Bitcoin relief rally or oversold bounce are likely diminishing as traders cautiously keep an eye on April 2, the day Trump has labeled “Liberation Day,” where additional tariffs, including “pharmaceutical tariffs,” are expected to be unveiled. Bitcoin price to fall to $65K? According to veteran trader Peter Brandt, Bitcoin could be on the path to $65,635. BTC/USD 1-day chart. Source: X / Peter BrandtIn an X social post, Brandt confirmed the completion of a “bear wedge” pattern and said, “Don’t shoot the messenger. Just reporting on what the chart says until it says something different. Bear wedge completed with 2X target from the double top at $65,635.” Crypto trader ‘HTL-NL’ agreed with Brandt, suggesting that Bitcoin’s failure in “breaking the ice” of a long-term descending trendline and the confirmation of the bear wedge are proof that BTC is destined to revisit its range lows. BTC/USD 1-day chart. Source: X / HTL-NLFrom a purely technical point of view, it’s difficult to project a swift reversal in Bitcoin’s price action as many of its daily timeframe metrics are not oversold. Despite the absence of strong spot market demand in the current price zone, crypto trader Cole Garner says that “whales are going wild right now.” BTC/USD 1-day chart. Source: X / Cole GarnerAccording to Garner, the Bitfinex spot BTC margin longs to margin shorts metric just fired a powerful signal which shows historical returns of 50%+ returns “within 50 days.” Related: US regulators FDIC and CFTC ease crypto restrictions for banks, derivativesBeyond the day-to-day price fluctuations, positive crypto industry developments continue to occur on the regulatory front. On March 28, White House AI and Crypto Czar David Sacks commended the FDIC and its Acting Chairman Travis Hill for clarifying the “process for banks to engage in crypto-related activities.” Source: X / David SacksEssentially, the Federal Deposit Insurance Corporation’s letter to institutions under its oversight provided clear guidance on their ability to engage in and provide crypto-related products and services without needing to notify the FDIC first.This article does not contain investment advice or recommendations. Every investment and trading move involves risk, and readers should conduct their own research when making a decision.
Published: 2 days ago
Crypto market cycle permanently shifted — Polygon founder
The four-year crypto market cycle that traders and investors have become accustomed to is no longer as pronounced due to the maturation of crypto as an asset class and the participation of institutional investors, according to Polygon co-founder Sandeep Nailwal.During a recent episode of Cointelegraph's Chain Reaction, Nailwal said that Overall speculative activity is down due to high interest rates in the United States and low-liquidity conditions, but will rebound once rates are cut and the Trump administration settles into its new role.Although interest rates on 10-year Treasury bonds have come down significantly, rates still remain relatively high. Source: TradingViewNailwal added that while he expects 30-40% drawdowns between cycles and still expects the Bitcoin (BTC) halving to have some effect on markets, the four-year cycle is now less pronounced. Nailwal said:"We have generally seen 90% drawdowns between cycles, which is very normal in crypto. I feel that those drawdowns will be less pronounced and they will feel a little bit more professional, more mature, especially for the Blue Chip crypto assets."The Polygon founder concluded that once the uptrend resumes and crypto markets experience a prolonged bull run then capital will rotate from larger cap assets into smaller cap assets.Related: BTC dominance steadily rising since 2023, is altseason now a relic?Other disruptors of the four-year cycleUS President Donald Trump’s executive order establishing a Bitcoin strategic reserve is one of the factors market analysts say is distorting the four-year market cycle.Pro-crypto policies from the Trump administration have also legitimized crypto in the eyes of institutional investors, which should bring in new capital flows and reduce the volatility of digital assets.Flows into crypto ETFs for the week of March 21. Source: CoinSharesThe advent of exchange-traded funds (ETFs) has also disrupted the four-year cycle by propping up the prices of digital assets that have ETFs and sequestered capital in those investment vehicles.Because ETFs are traditional finance products that do not give the holder the underlying digital assets, these investment vehicles prevent capital from freely rotating into other assets.Macroeconomic pressure and geopolitical uncertainty also have a disruptive effect on market cycles, as investors flee risk-on assets for more stable alternatives such as cash and government securities.Magazine: Bitcoin will ‘start ripping’ as Trump’s polls improve: Felix Hartmann, X Hall of Flame
Published: 2 days ago
US regulators FDIC and CFTC ease crypto restrictions for banks, derivatives
The Federal Deposit Insurance Corporation (FDIC) said in a March 28 letter that institutions under its oversight, including banks, can now engage in crypto-related activities without prior approval. The announcement comes as the Commodity Futures Trading Commission (CFTC) announced that digital asset derivatives wouldn’t be treated differently than any other derivatives.The FDIC letter rescinds a previous instruction under former US President Joe Biden’s administration that required institutions to notify the agency before engaging in crypto-related activities. According to the FDIC’s definition:”Crypto-related activities include, but are not limited to, acting as crypto-asset custodians; maintaining stablecoin reserves; issuing crypto and other digital assets; acting as market makers or exchange or redemption agents; participating in blockchain- and distributed ledger-based settlement or payment systems, including performing node functions; as well as related activities such as finder activities and lending.”FDIC-supervised institutions should consider associated risks when engaging in crypto-related activities, it said. These risks include market and liquidity risks, operational and cybersecurity risks, consumer protection requirements, and Anti-Money Laundering requirements.On March 25, the FDIC eliminated the “reputational risk” category from bank exams, opening a path for banks to work with digital assets. Reputational risk is a term that underscores the dangers banks face when engaging with certain industries. Related: FDIC resists transparency on Operation Chokepoint 2.0 — Coinbase CLODigital asset derivatives won’t be treated differently — CFTCWhile the US crypto derivatives market had been a gray zone due to regulatory uncertainty, that has been changing. On March 28, the CFTC withdrew a staff advisory letter to ensure that digital asset derivatives — a type of trading product — will not be treated differently from other types of derivatives. The revision is “effective immediately.”The change in tone from the CFTC and FDIC follows a new environment for crypto firms under US President Donald Trump’s administration. Trump has vowed to make the US “the crypto capital of the planet.” Crypto firms are shifting strategies to align with the easing regulatory climate. On March 10, Coinbase announced the offer of 24/7 Bitcoin (BTC) and Ether (ETH) futures. In addition, the company is reportedly planning to acquire Derebit, a crypto derivatives exchange.Kraken, another US-based cryptocurrency exchange, has also made moves in the derivatives market. On March 20, it announced the acquisition of NinjaTrader, which would allow the exchange to offer crypto futures and derivatives in the United States.Magazine: Trump’s crypto ventures raise conflict of interest, insider trading questions
Published: 2 days ago
Crypto Biz: GameStop takes the orange pill
It has been a wild few years for GameStop, the video game retailer turned memecoin stock. After being pulled from the edge of bankruptcy in 2021 thanks to a surging stock price, the company has made sensible business decisions over the years, such as shrinking its physical footprint and focusing on higher-margin items. Now, GameStop is trying to secure its survival by investing in Bitcoin (BTC). This approach seems to have worked for Strategy, Michael Saylor’s business intelligence firm turned Bitcoin bank. Strategy has now amassed more than 500,000 BTC through successive purchases. And despite experiencing massive volatility, Strategy’s stock has rallied more than 2,100% since acquiring its first Bitcoin back in 2020.GameStop has memed its way back to relevance — who says it can’t secure at least the next decade of its existence by riding the Bitcoin wave?This week’s Crypto Biz newsletter chronicles GameStop’s Bitcoin gambit, the adoption magnet that is tokenization and the recovery in Bitcoin mining revenues.GameStop: Following the Strategy playbookOn March 25, GameStop confirmed that it had received board approval to invest in Bitcoin and US-dollar-pegged stablecoins. There’s reason to believe that the video game retailer could make a big splash, given its corporate cash balance of nearly $4.8 billion. This is a notable jump from one year earlier when the company’s balance sheet was around $922 million. There’s also reason to believe that GameStop CEO Ryan Cohen was orange-pilled by Michael Saylor after the two met in early February. Cohen confirmed that the meeting took place by posting an uncaptioned photo of him and Saylor on Feb. 8. Source: Ryan CohenFor his part, Saylor continues to accumulate as much BTC as humanly possible. Earlier in the week, he announced that Strategy had acquired another 6,911 BTC, bringing its stockpile to 506,137 BTC.Tokenized real estate comes to PolyonDigiShares has launched a real estate trading platform on Polygon, giving investors access to a liquid on- and off-ramp for commercial and residential properties. RealEstate.Exchange, also known as REX, launched with two luxury property listings in Miami, Florida, including a 520-unit tower and a 38-unit residential complex.A Google street view of one of the property listings, The Legacy Hotel & Residences in Miami, Florida. Source: Google MapsDigiShares CEO Claus Skaaning told Cointelegraph that REX has an additional five or six properties in the pipeline, adding that REX will eventually support all sorts of commercial and residential properties. REX operates in the United States through a license with Texture Capital, a broker-dealer registered with the Securities and Exchange Commission. The platform is also seeking registrations in the European Union, South Africa and the United Arab Emirates. Tokenized assets coming to CMECME Group, one of the world’s largest derivatives exchange operators, has tapped Google Cloud to roll out its asset tokenization program. Specifically, CME Group is using the Google Cloud Universal Ledger (GCUL) to tokenize traditional assets on the blockchain — a move the company said would improve capital market efficiency and wholesale payments. Tokenization could “deliver significant efficiencies for collateral, margin, settlement and fee payments as the world moves toward 24/7 trading,” said Terry Duffy, CME Group’s Chairman and CEO.Although CME didn’t provide specific details about which assets would be part of the tokenization pilot, it plans to begin testing the technology with market participants next year.Bitcoin miner revenues stabilize post-halvingBitcoin miners are on track for recovery following the network’s April 2024 halving event, which reduced mining revenues from 6.25 BTC to 3.125 BTC.According to data from Coin Metrics, miner revenues are approaching $3.6 billion in the first quarter, which isn’t far off from the prior quarter’s $ 3.7 billion tally. It marks a major rebound from the third quarter of 2024 when revenues plunged to $2.6 billion. Miners have quickly adapted to the latest quadrennial halving, though revenues remain lower than the pre-halving peak in the first quarter of 2024. Source: Coin Metrics“With almost one year elapsed since Bitcoin’s 4th halving, miners have endured a period of stabilization, adapting to reduced block rewards, tighter margins, and shifting operational dynamics,” Coin Metrics said.Despite adverse market conditions since the halving, some miners are doubling down on their Bitcoin hodl strategy. Hive Digital’s chief financial officer told Cointelegraph that the company is focused on “retaining a significant portion of its mined Bitcoin to benefit from potential price appreciation.”Crypto Biz is your weekly pulse on the business behind blockchain and crypto, delivered directly to your inbox every Thursday.
Published: 2 days ago
Trump pardons 3 BitMEX co-founders — Report
US President Donald Trump reportedly issued pardons to three co-founders of the cryptocurrency exchange BitMEX, who had pleaded guilty to felony charges.According to a March 28 CNBC report, Trump granted pardons to Arthur Hayes, Benjamin Delo and Samuel Reed, who were facing a range of criminal charges related to money laundering or violations of the Bank Secrecy Act. Hayes and Delo pleaded guilty in February 2022, admitting they “willfully fail[ed] to establish, implement and maintain an Anti-Money Laundering program” at BitMEX, while Reed entered a plea a few weeks later.Source: Arthur HayesAt the time of publication, the White House had not released a statement suggesting that Trump planned to pardon the three men. Cointelegraph contacted BitMEX for a comment regarding the pardon, but did not receive a response at the time of publication.Since taking office on Jan. 20, Trump has issued a number of controversial federal pardons, including to more than 1,500 people facing charges related to the Jan. 6, 2021, rioting at the US Capitol and Silk Road founder Ross Ulbricht, who was in prison for more than 11 years. Reports have suggested that former FTX CEO Sam Bankman-Fried, sentenced to 25 years in prison for his role in misusing customer funds, was also attempting to cozy up to Trump and Republicans for a potential pardon.Related: Changpeng Zhao says he ‘wouldn’t mind a pardon’ from Donald TrumpUS authorities charged Delo, Reed, Hayes, and Gregory Dwyer — the exchange’s first employee — in 2020 with violations of the Bank Secrecy Act. Hayes, BitMEX’s then-CEO, stepped down from his role amid the legal battle.The reasons for Trump’s pardon were unclear at the time of publication, as the three men had already been sentenced to a combination of home arrest or probation in 2022. The BitMEX co-founders were also ordered to pay $30 million in penalties as part of a civil case with the US Commodity Futures Trading Commission (CFTC).The exchange’s cases with US authorities included an agreement to pay $100 million in consent payments to both the CFTC and the US Financial Crimes Enforcement Center in 2021. In January, a judge imposed a $100 million fine and two years of unsupervised probation on HDR Global Trading Limited, BitMEX’s parent company. Magazine: Meet lawyer Max Burwick — ‘The ambulance chaser of crypto’
Published: 2 days ago
Ethereum futures premium hits 1+ year low — Is it time to buy the ETH bottom?
Ether (ETH) price fell 9.3% between March 26 and March 28, testing the $1,860 level for the first time in two weeks. This correction led to over $114 million in liquidations of leveraged ETH futures and caused the premium relative to the regular spot market to drop to its lowest level in over a year. Some traders have said that the rock-bottom ETH futures premium is a bottom signal, but let’s dig deeper into the data to see if this perspective makes any sense. ETH 1-month futures premium relative to spot markets. Source: Laevitas.chEther’s monthly futures typically trade above the regular spot price as sellers demand compensation for the longer settlement period. A 5% to 10% annualized premium usually indicates neutral markets, reflecting the cost of opportunity and the exchanges’ risk. However, ETH futures dropped below this threshold on March 8, following a 24% price correction in the prior two weeks.The current 2% ETH futures annualized premium suggests a lack of demand for leveraged longs (buys), but this measure is highly influenced by recent price movements. For example, on Oct. 10, 2024, the ETH futures premium dropped to 2.6% after a 14% price correction in two weeks, but the indicator rose to 7% as ETH regained most of its losses. Essentially, the futures premium rarely signals changes in the spot price trend.ETH whales are afraid Ether price will fall further To determine if whales have lost interest in Ether, it is crucial to observe how the market is pricing put (sell) options compared to call (buy) options. When traders anticipate a downtrend, the 25% delta skew metric rises above 6%, indicating a higher demand for hedging strategies. In contrast, periods of bullishness usually push the skew below -6%.Ether 1-month options 25% delta skew (put-call). Source: Laevitas.chCurrently, at 7%, the ETH options’ 25% delta skew suggests a lack of conviction among professional traders, raising the likelihood of further bearish momentum. From a derivatives market perspective, there is little indication that the recent ETH price correction has bottomed out. Essentially, investors are not confident that the $1,800 support will hold.Some analysts argue that the sharp decline in Ethereum network activity is the primary reason for the reduced appeal of ETH, while others suggest that the shift toward layer-2 scalability has significantly diminished the potential of base chain fees. Given the need to compensate network validators, the lack of capital inflow requires more ETH issuance, which negatively affects net returns from native staking.The Ethereum network faces steep competitionAttempting to pinpoint the reasons behind sellers' motivations is futile, especially when considering Ethereum’s competition, which has expanded from blockchains like BNB Chain and Solana to networks tailored for specific challenges. Examples include Hyperliquid, focused on synthetic assets and perpetual trading, and Berachain, which is apparently better suited for staked assets in cross-liquidity pools.Related: Timeline: Jelly token goes sour after $6M exploit on HyperliquidThe success of certain decentralized applications (DApps) could serve as the final blow to Ether. For example, Ethena, the synthetic dollar protocol on Ethereum, is transitioning to its own layer-1 blockchain. The project, currently holding $5.3 billion in total value locked (TVL), raised $100 million in December 2024 to support this shift.However, it may be premature to claim that ETH price will continue to fall, as a major protocol update is only weeks away. Investors should carefully track the practical benefits of Ethereum’s Pectra upgrade, particularly in terms of base layer fees and overall usability for the average user. Until then, the chances of ETH outperforming the broader altcoin market remain slim.This article is for general information purposes and is not intended to be and should not be taken as legal or investment advice. The views, thoughts, and opinions expressed here are the author’s alone and do not necessarily reflect or represent the views and opinions of Cointelegraph.
Published: 2 days ago
Bitcoin to $110K next, Hyperliquid whale bags $6.2M ‘short’ exploit: Finance Redefined
Bitcoin price is poised to hit $110,000 before retesting the $76,500 range, according to Arthur Hayes, pointing to easing inflationary concerns and more favorable monetary policy conditions in the US that are set to bolster risk assets, including the world’s first cryptocurrency.Still, the decentralized finance (DeFi) industry took another hit after an unknown whale exploited Hyperliquid’s algorithms to generate over $6 million in profit on a memecoin short position.Bitcoin “more likely” to hit $110,000 before $76,500 — Arthur HayesBitcoin may reach a new all-time high of $110,000 before any significant retracement, according to some market analysts who cite easing inflation and increasing global liquidity as key factors supporting a price rally.Bitcoin (BTC) has risen for two consecutive weeks, achieving a bullish weekly close just above $86,000 on March 23, TradingView data shows.Combined with fading inflation-related concerns, this may set the stage for Bitcoin’s rally to a $110,000 all-time high, according to Arthur Hayes, co-founder of BitMEX and chief investment officer of Maelstrom.BTC/USD, 1-week chart. Source: Cointelegraph/TradingViewHayes wrote in a March 24 X post:“I bet $BTC hits $110k before it retests $76.5k. Y? The Fed is going from QT to QE for treasuries. And tariffs don’t matter cause of “transitory inflation.” JAYPOW told me so.”Source: Arthur Hayes“What I mean is that the price is more likely to hit $110k than $76.5k next. If we hit $110k, then it’s yachtzee time and we ain’t looking back until $250k,” Hayes added in a follow-up X post.Quantitative tightening (QT) is when the US Federal Reserve shrinks its balance sheet by selling bonds or letting them mature without reinvesting proceeds, while quantitative easing (QE) means that the Fed is buying bonds and pumping money into the economy to lower interest rates and encourage spending during difficult financial conditions.Other analysts pointed out that while the Fed has slowed QT, it has not yet fully pivoted to easing.“QT is not ‘basically over’ on April 1st. They still have $35B/mo coming off from mortgage backed securities. They just slowed QT from $60B/mo to $40B/mo,” according to Benjamin Cowen, founder and CEO of IntoTheCryptoVerse.Continue readingHyperliquid whale still holds 10% of JELLY memecoin after $6.2 million exploitA crypto whale who allegedly manipulated the price of the Jelly my Jelly (JELLY) memecoin on decentralized exchange Hyperliquid still holds nearly $2 million worth of the token, according to blockchain analysts.The unidentified whale made at least $6.26 million in profit by exploiting the liquidation parameters on Hyperliquid.According to a postmortem report by blockchain intelligence firm Arkham, the whale opened three large trading positions within five minutes: two long positions worth $2.15 million and $1.9 million and a $4.1 million short position that effectively offset the longs.Source: ArkhamWhen the price of JELLY rose by 400%, the $4 million short position wasn’t immediately liquidated due to its size. Instead, it was absorbed into the Hyperliquidity Provider Vault (HLP), which is designed to liquidate large positions.The entity may still be holding nearly $2 million worth of the token’s supply, according to blockchain investigator ZachXBT.“Five addresses linked to the entity who manipulated JELLY on Hyperliquid still hold ~10% of the JELLY supply on Solana ($1.9M+). All JELLY was purchased since March 22, 2025,” he wrote in a March 26 Telegram post.Continue readingFidelity plans stablecoin launch after SOL ETF “regulatory litmus test”Fidelity Investments is reportedly in the final stages of testing a US dollar-pegged stablecoin, signaling the firm’s latest push into digital assets amid a more favorable crypto regulatory climate under the Trump administration.The $5.8 trillion asset manager plans to launch the stablecoin through its cryptocurrency division, Fidelity Digital Assets, according to a March 25 report by the Financial Times citing anonymous sources familiar with the matter.The stablecoin development is reportedly part of the asset manager’s wider push into crypto-based services. Fidelity is also launching an Ethereum-based “OnChain” share class for its US dollar money market fund.Fidelity’s March 21 filing with the US securities regulator stated the OnChain share class would help track transactions of the Fidelity Treasury Digital Fund (FYHXX), an $80 million fund consisting almost entirely of US Treasury bills.While the OnChain share class filing is pending regulatory approval, it is expected to take effect on May 30, Fidelity said.Fidelity’s filing to register a tokenized version of the Fidelity Treasury Digital Fund. Source: Securities and Exchange CommissionIncreasingly more US financial institutions are launching cryptocurrency-based offerings after President Donald Trump’s election signaled a shift in policy.Continue readingPolymarket faces scrutiny over $7 million Ukraine mineral deal betPolymarket, the world’s largest decentralized prediction market, is under fire after a controversial outcome raised concerns over potential governance manipulation in a high-stakes political bet.A betting market on the platform asked whether US President Donald Trump would accept a rare earth mineral deal with Ukraine before April. Despite no such event occurring, the market was settled as “Yes,” triggering a backlash from users and industry observers.This may point to a “governance attack” in which a whale from the UMA Protocol “used his voting power to manipulate the oracle, allowing the market to settle false results and successfully profit,” according to crypto threat researcher Vladimir S.“The tycoon cast 5 million tokens through three accounts, accounting for 25% of the total votes. Polymarket is committed to preventing this from happening again,” he wrote in a March 26 X post.Source: Vladimir S.Polymarket employs UMA Protocol’s blockchain oracles for external data to settle market outcomes and verify real-world events.Polymarket data shows the market amassed more than $7 million in trading volume before settling on March 25.Ukraine/US mineral deal betting pool on Polymarket. Source: PolymarketStill, not everyone agrees that it was a coordinated attack. A pseudonymous Polymarket user, Tenadome, said that the outcome was the result of negligence.Continue readingDWF Labs launches $250 million fund for mainstream crypto adoptionDubai-based crypto market maker and investor DWF Labs launched a $250 million Liquid Fund to accelerate the growth of mid- and large-cap blockchain projects and drive real-world adoption of Web3 technologies.DWF Labs is set to sign two investment deals worth $25 million and $10 million as part of the fund.The initiative aims to grow the crypto landscape by offering strategic investments ranging from $10 million to $50 million for projects that have the potential to drive real-world adoption, according to a March 24 announcement shared with Cointelegraph.Source: DWF LabsThe fund will focus on blockchain projects with significant “usability and discoverability,” according to Andrei Grachev, managing partner of DWF Labs.“We’re focusing our support on mid-to-large-cap projects, the tokens and platforms that typically serve as entry points for retail users,” Grachev told Cointelegraph, adding:“However, good technology and utility alone isn’t sufficient. Users first need to discover these projects, comprehend their value and develop trust.”“We believe that strategic capital, coupled with hands-on ecosystem development, is the key to unlocking the next wave of growth for the industry,” he said.Continue readingDeFi market overviewAccording to data from Cointelegraph Markets Pro and TradingView, most of the 100 largest cryptocurrencies by market capitalization ended the week in the green.Of the top 100, the BNB Chain-native Four (FORM) token rose over 40% as the week’s biggest gainer, followed by the Cronos (CRO) token, up over 37% on the weekly chart, despite blockchain investigators accusing Crypto.com of manipulating the CRO token supply, after reissuing 70 billion tokens that were “permanently” burned in 2021.Total value locked in DeFi. Source: DefiLlamaThanks for reading our summary of this week’s most impactful DeFi developments. Join us next Friday for more stories, insights and education regarding this dynamically advancing space.
Published: 2 days ago
Anti-L2 push could ‘break the social fabric’ of Ethereum — Sandeep Nailwal
A portion of the Ethereum community is pressuring the Ethereum Foundation to make decisions that may “break the entire social fabric” of the smart contract network by restricting Ethereum's layer-2 (L2) networks, Polygon co-founder Sandeep Nailwal said.Speaking during a March 28 episode of Cointelegraph's Chain Reaction show on X, the Polygon founder said that he has only seen this type of pressure and anti-L2 rhetoric during the current market cycle amid suppressed price action for Ether (ETH).https://t.co/PjkmKIcamv— Cointelegraph (@Cointelegraph) March 28, 2025“Everybody understands that if Ethereum doesn’t survive, the layer-2s won’t survive,” Nailwal said, adding:"The Ethereum community should not pressure the developers enough — I should not be able to pressure the developers enough — for price movements and all that, they may end up making a decision that completely breaks the social fabric of Ethereum."The Polygon co-founder praised Vitalik Buterin’s leadership and his more active role in the Ethereum Foundation, saying he has been the biggest force in keeping Ethereum's ecosystem cohesive.Nailwal characterized Buterin as the “DNA” of the network that has attracted many talented developers over the years who are building layers on top of the Ethereum base layer.The total value secured across Ethereum’s scaling solutions. Source: L2BeatRelated: Getting crypto out of the ‘AOL era’ — Sandeep NailwalSettlement layers vs execution layersAccording to Nailwal, the layer-1 vs layer-2 dichotomy is the wrong way to think about blockchain networks.The Polygon founder defined only two settlement layers in all of crypto, Bitcoin and Ethereum, with all other crypto networks being execution layers.In the future, almost every application will have its own blockchain to avoid paying gas fees and will post final transactions to one of these settlement layers, Nailwal said.Ethereum's base layer will benefit from this explosion of execution layers, accruing value from these final settlements and promoting the long-term growth of the ecosystem, which will one day be seamlessly interoperable.Ethereum base layer fees drop following the Dencun upgrade. Source: The Tie TerminalCritics of Ethereum's execution layers say that the scaling networks are currently cannibalizing the base layer, which culminated in a 99% drop in Ethereum L1 revenue by September 2024.Nailwal concluded that due to these differences between settlement and execution layers, no other crypto network is real competition for Ethereum except the Bitcoin network.However, the only way the Bitcoin network could be a threat to Ethereum is if it adopted more advanced scripting options that give it reliable, smart contract functionality like Ethereum, Nailwal said.Magazine: Ethereum L2s will be interoperable ‘within months’: Complete guide
Published: 2 days ago
Price analysis 3/28: BTC, ETH, XRP, BNB, SOL, DOGE, ADA, TON, LINK, AVAX
Bitcoin (BTC) is moving farther away from the crucial $90,000 mark, indicating that buying dries up at higher levels. Market participants seem nervous about the fresh round of US trade tariffs and the renewed inflation pressure as US Personal Consumption Expenditures data came in hotter-than-expected.Traders are divided about Bitcoin’s price trajectory in 2025. Analyzing data from the prediction markets platform Polymarket, X user Ashwin highlighted that Bitcoin’s most bearish target for 2025 is $59,040, and the most bullish is $138,617.Crypto market data daily view. Source: Coin360Although the near-term remains uncertain, Real Vision chief crypto analyst Jamie Coutts remains bullish on Bitcoin. Coutts told Cointelegraph that Bitcoin could hit a new all-time high above $109,000 before the end of the second quarter. He added that a lack of clarity on the US tariffs and recession concerns are unlikely to derail the potential Bitcoin rally.What are the important support levels to watch out for in Bitcoin and the major altcoins? Let’s analyze the charts of the top 10 cryptocurrencies to find out.Bitcoin price analysisBitcoin turned down from the resistance line and broke below the 20-day exponential moving average ($85,765) on March 28.BTC/USDT daily chart. Source: Cointelegraph/TradingViewThe bears will try to pull the price below the immediate support at $83,000. If they do that, the BTC/USDT pair could slide to $81,000 and later to $80,000. Buyers are expected to fiercely defend the zone between $76,606 and $80,000.The bulls will have to push and maintain the price above the resistance line to signal that the correction may be ending. A close above the 50-day simple moving average ($89,346) could propel the pair to $95,000 and eventually to the psychological resistance at $100,000.Ether price analysisEther (ETH) turned down from the breakdown level of $2,111 and broke below the 20-day EMA ($2,032), indicating that the bears remain in control.ETH/USDT daily chart. Source: Cointelegraph/TradingViewSellers will try to sink the ETH/USDT pair to the $1,800 to $1,754 support zone. Buyers are expected to vigorously defend the zone because a break below it could resume the downtrend. The next stop on the downside could be $1,550.Buyers will have to push and sustain the price above $2,111 to signal that the bearish momentum is weakening. The 50-day SMA ($2,293) may act as a hurdle on the upside, but if taken out, the pair could rally to $2,550.XRP price analysisXRP (XRP) turned down and broke below the moving averages on March 26, indicating that the bears remain sellers on every minor rise.XRP/USDT daily chart. Source: Cointelegraph/TradingViewThe bears will try to sink the price to the vital support at $2. Buyers are expected to defend the level with all their might because a break below $2 will complete a bearish head-and-shoulders pattern. The XRP/USDT pair may then plunge to $1.27.On the contrary, a strong bounce off the $2 support could keep the pair stuck inside the triangle for a while longer. The bulls will be back in the driver’s seat on a break and close above the resistance line.BNB price analysisBNB (BNB) has been trading between the moving averages and the $644 resistance for the past few days.BNB/USDT daily chart. Source: Cointelegraph/TradingViewThe upsloping 20-day EMA ($618) and the RSI in the positive territory signal a slight advantage to buyers. If the price rebounds off the moving averages with strength, it improves the prospects of a break above $644. The BNB/USDT pair could then surge to $686.Contrary to this assumption, if the price continues lower and breaks below the moving averages, it indicates that the bulls have given up. The pair may descend to the 38.2% Fibonacci retracement level of $591.Solana price analysisSolana (SOL) broke below the 20-day EMA ($136) on March 28, suggesting a lack of demand from the bulls.SOL/USDT daily chart. Source: Cointelegraph/TradingViewSellers will try to sink the price to the $120 to $110 support zone. Buyers are expected to defend the support zone aggressively because a break and close below it could resume the downtrend toward $80.The 50-day SMA ($153) is the critical overhead resistance to watch out for. Buyers will have to kick the price above the 50-day SMA to indicate that the SOL/USDT pair may have formed a floor at $110. The pair could then jump to $180.Dogecoin price analysisDogecoin (DOGE) turned down from the 50-day SMA ($0.21) on March 26, indicating that the sentiment remains negative.DOGE/USDT daily chart. Source: Cointelegraph/TradingViewThe flattish 20-day EMA ($0.18) and the RSI just below the midpoint suggest a range-bound action in the near term. The DOGE/USDT pair could swing between $0.14 and the 50-day SMA for some time.If the price turns up from the current level and breaks above the 50-day SMA, it will signal that the bulls are trying to form a higher low. That increases the possibility of a break above the 50-day SMA. The pair may ascend to $0.24 and later to $0.29.Cardano price analysisCardano’s (ADA) failure to sustain above the 50-day SMA ($0.75) may have attracted profit booking by short-term buyers.ADA/USDT daily chart. Source: Cointelegraph/TradingViewThe ADA/USDT pair could slip to the uptrend line, where the buyers are expected to step in. If the price rebounds off the uptrend line, the bulls will again attempt to drive the pair above the 50-day SMA. If they succeed, the pair may rise to $0.84 and then to $1.02.Contrarily, a break and close below the uptrend line suggests that the bears have overpowered the bulls. The pair may drop to the $0.58 to $0.50 support zone, which is likely to attract buyers.Related: XRP price may drop another 40% as Trump tariffs spook risk tradersToncoin price analysisToncoin (TON) turned up from the 20-day EMA ($3.54) on March 26 and reached the overhead resistance of $4.14 on March 27.TON/USD daily chart. Source: Cointelegraph/TradingViewThe upsloping 20-day EMA and the RSI in the positive territory indicate advantage to buyers. If the price turns up from the current level or the 20-day EMA, it increases the likelihood of a break above $4.14. That opens the doors for a rise to $5.This positive view will be invalidated in the near term if the price breaks below the moving averages. There is minor support at $3.32, but if the level cracks, the TON/USDT pair could slide to $2.81.Chainlink price analysisChainlink (LINK) turned down from the 50-day SMA ($15.96) on March 28 and broke below the 20-day EMA ($14.76), indicating that bears are selling on rallies.LINK/USDT daily chart. Source: Cointelegraph/TradingViewIf the price sustains below the 20-day EMA, the bears will try to strengthen their position by pulling the LINK/USDT pair toward the support line. A break and close below the support line could sink the pair to $10.Buyers are likely to have other plans. They will try to quickly arrest the decline and push the price above the 50-day SMA. If they manage to do that, the pair could climb to $17.70 and subsequently to the resistance line.Avalanche price analysisAvalanche (AVAX) failed to sustain above the 50-day SMA ($21.93), signaling that the bears are active at higher levels.AVAX/USDT daily chart. Source: Cointelegraph/TradingViewThe 20-day EMA ($20.51) is the critical support to watch out for. If the price closes below the 20-day EMA, the AVAX/USDT pair could skid to $18. Buyers are expected to defend the $18 level, but if the bears prevail, the pair could retest the critical support at $15.27.The first sign of strength will be a break and close above the 50-day SMA. That suggests solid buying at lower levels. The pair may then attempt a rally to the $25.12 to $27.23 overhead resistance zone.This article does not contain investment advice or recommendations. Every investment and trading move involves risk, and readers should conduct their own research when making a decision.
Published: 2 days ago
Terraform Labs to open loss claims portal on March 31
Terraform Labs — the company behind LUNA (LUNA) and algorithmic stablecoin TerraUSD (UST) — will launch its crypto loss claims portal on March 31. The portal is aimed at reimbursing individuals who lost at least $100 due to the collapse of the Terra ecosystem in 2022.The move follows a Delaware court’s approval for Terraform Labs to wind down operations. The judge overseeing the case agreed with Terraform Labs’ bankruptcy plan, calling it a “welcome alternative” to further litigation over investor losses. Terraform Labs settled with the US Securities and Exchange Commission (SEC) in June 2024 for $4.47 billion.To be eligible for reimbursement, claimants must submit a claim and supporting documentation through the crypto loss claims portal by 11:59 pm ET on April 30. Claims under $100 will not be accepted. There are two types of evidence that claimants can submit: manual and preferred. Manual evidence includes transaction logs, account statements, and screenshots. Preferred evidence refers to read-only API keys. It is considered preferred for being the most accurate and reliable data, especially for users of major exchanges. In its announcement, Terraform Labs warned that claims submitted with manual evidence “will likely be subject to a protracted review process” and may be disallowed if preferred evidence is also available. The company estimates it could pay from $184.5 million to $442.2 million to investors and stakeholders, though it noted that the total amount of eligible crypto losses remains difficult to determine.Terraform Labs’ fall from graceIn June 2024, Terraform Labs announced that it would cease operations and transfer control of the Terra blockchain to its community. The entity planned to sell key projects in the Terra ecosystem and burn unvested and vested holdings.Before its dramatic collapse, Terraform Labs presided over a $45 billion ecosystem involving its algorithmic stablecoin and the LUNA token. Do Kwan, the founder of Terraform Labs, was later arrested in Montenegro and extradited to the United States, where the US Justice Department has charged him with eight felonies.The collapse of the Terra ecosystem sent shockwaves through the crypto community. At that time, Bitcoin (BTC) lost 37% of its value in 30 days, falling $19,000.Kwon’s US court hearing has been delayed until April 10 as prosecutors are reviewing a swath of new evidence. Related: Terraform Labs and Do Kwon found liable for fraud in SEC case
Published: 2 days ago
Twitter User Claims TradingView Has Ignored a Fibonacci Retracement Bug for 5 Years
Update: the CTO of TradingView told Cointelegraph in comments that the reports of a bug were inaccurate, and the Twitter user partially withdrew his earlier claims that the tool was broken. Popular chart analysis service TradingView reportedly contains a bug in the Fibonacci retracement technical analysis tool, according to a tweet by self-proclaimed certified Elliott wave analyst Cryptoteddybear published on June 13. The Elliott wave principle is a type of technical analysis for predicting prices in financial markets by looking at recurring patterns. In a video that he uploaded to YouTube, the analyst explains that the tool does linear calculations when in logarithmic charts, which he notes is a significant issue for Elliot wave traders. The official Twitter account of the company behind the charting service answered his tweet, announcing that the issue is being investigated, to which Cryptoteddybear answered: “Thank you @tradingview for finally taking this issue seriously.” The first reports of the bug, posted over five years ago (in November 2014) on consumer community platform getsatisfaction, have been reportedly ignored by the company. Another report submitted on the same platform, dated June 3, 2017, has seen the official TradingView account answer in the thread: “Hi, you are right, we have a planned task to fix this. Thanks for bringing this to our attention.” However, the problem apparently has not yet been solved. Cryptoteddybear claims that a company representative told him that he asked the technicians to increase the priority given to solving the bug. As Cointelegraph recently reported, TradingView is one of the platforms that added the “CIX100” index — an AI-powered index for the 100 strongest-performing cryptocurrencies and tokens. At the beginning of the current month, cryptocurrency analytics company Coin Metrics announced that it has acquired digital asset index firm Bletchley Indexes and plans to launch crypto smart beta indexes. As of press time, TradingView has not responded to a request for comment.
Published: 6 years ago