Crypto News

Billionaire Fund Manager's Verdict on US Dollar Billionaire fund manager Tim Draper has invested in Elon Musk's companies, Tesla and SpaceX, as well as in crypto giants such as Coinbase and Robinhood. Draper is a well-known Bitcoin advocate who believes that the world's largest cryptocurrency will become dominant compared to the dollar, even among retailers. Draper recently issued a warning regarding the U.S. dollar, claiming that people will rush to spend it as it loses value, and that retailers will soon prefer Bitcoin. "And when they do, that’s when people will start spending Bitcoin," Draper added. The U.S. dollar index (DXY), which measures the value of the dollar relative to a basket of foreign currencies, was quoted at 98.69...

Fed governor hopeful about rate cuts as markets reel Federal Reserve Governor Christopher Waller offered a rather hopeful comment regarding potential interest rate cuts in 2025 as the crypto market retreats from its recent highs. The total crypto market cap has dropped from more than $3.5 trillion to a little above $3.2 trillion in a span of 10 days. Bitcoin, which hit the all-time high (ATH) of $111,970.17 on May 22, has found it difficult to touch even the $106,00 price level since May 31. As the crypto market has gotten further entangled with traditional stock markets, the Fed's decisions have begun to impact price movements in the crypto market too. On June 1, Fed Governor Christopher Waller offered a ray of hope to the crypto...

The crypto market took a breather on Monday, as Bitcoin and major altcoins showed minor declines over the past 24 hours. Federal Reserve Chair Jerome Powell unveiled the central bank's monetary policy framework for 2025 Monday morning. The framework was reviewed with the understanding that significant changes have occurred in the economy since the Fed's previous major reevaluation in 2020, and that the Fed must recalibrate its strategies, tools, and communications. On May 16, Powell pointed to the 2020 framework, created during a period of low inflation and low interest rates, as no longer relevant, as the pandemic had distorted all economic norms. The Fed's assurance that it would allow inflation to moderately "overshoot 2%", he...

Bitcoiners roast Elon Musk’s new ‘Bitcoin-style’ XChat Elon Musk wants X to become the most secure communication platform on the planet. But his latest branding choice has left the crypto world confused, and a little amused. On June 1, Musk announced XChat, a new feature for X (formerly Twitter) that includes encrypted messaging, vanishing messages, file sharing, and audio/video calling — all without needing a phone number. The architecture is reportedly built on Rust, and as Musk described it, uses “Bitcoin-style encryption.” That phrasing triggered an instant response from Bitcoin experts. “Brother w*f is bitcoin style encryption, bitcoin literally doesn’t have any encryption in it whatsoever,” wrote Taproot Wizards contributor...

Exclusive: Kraken CEO fires at Saylor’s latest criticism In a Roundtable interview at Bitcoin 2025 conference, co-CEO Dave Ripley defended Kraken’s longstanding proof of reserves practice in response to criticism from Strategy co-founder Michael Saylor. Saylor had argued that on-chain proof of reserves “weakens the security of issuers, custodians and investors” and warned that publishing wallet addresses “exposes firms to traceability and long-term vulnerabilities.” Ripley noted, “We are the first one to do proof-of-reserves all the way back a decade ago. We partner with a third-party auditor to do that. There’s a way in which they can attest that their balances were included in the proof of reserves and that a third-party auditor...

“I think Ethereum is severely undervalued right now,” Armando Pantoja told listeners, pegging the network’s native coin at a fair price of $7,000–$8,000 — roughly 200% above current levels. He blamed the mispricing on a market that “doesn’t truly understand how tech adoption works,” a “Bybit hack which affected Ethereum,” and months of heavy institutional shorting. Many traders, he argued, wrote off Ethereum when newer programmable blockchains such as Solana appeared. Yet, Pantoja said, “technology takes a long time to adopt — Ethereum is positioned better than Solana or Avalanche for wide-scale adoption.” With Ether so “compressed,” he likened the coin to “a spring” packed with potential energy: “Eventually, if anything changes, that...

Ripple holds 38.8% of XRP ledger accounts, with over 36.5B XRP still in escrow, as of June 2, 2025. Ripple's $1.5 billion escrow stands out as XRP turns 13​​ As part of its monthly practice, Ripple has recently escrowed nearly 680 million XRPs (approximately $1.5 billion) into escrow wallets, as monitored by Whale Alert's on-chain activity tracking. The two notable transactions on June 1 consisted of a $1.03 billion XRP transfer (470 million XRPs) and a $437 XRP transaction (200 million XRPs); both token transactions have amounted to Ripple's traditional way of restricting supply. Interestingly, XRP Ledger's native token, XRP, has just turned thirteen years old as of June 2, 2025. The purpose of these escrows is to provide...

New York-based stablecoin issuer Circle Internet Group, which rejected acquisition offers by crypto industry giants such as Ripple and Coinbase (Nasdaq: COIN), has a major announcement, Reuters reported on June 2. Circle said that it has upsized the size and pricing range of its upcoming initial public offering (IPO), now targeting a higher valuation of up to $7.2 billion on a fully diluted basis. As reported earlier, Circle has filed for an IPO on the New York Stock Exchange under the ticker symbol "CRCL." Earlier, the firm was offering 24 million shares of its Class A common stock, which it has now raised to 32 million shares—in the hope of raising up to $896 million. It has also raised the IPO price range from $24-$26 a share to...

None Elon Musk says XChat is rolling out to all, but questions remain about its alleged security Elon Musk on Sunday announced that a new version of X's Direct Messaging (DM) feature, XChat, was rolling out with support for features like vanishing messages, encryption, and the ability to share files, alongside its audio and video calling support. The new features aren't yet broadly available, as XChat only recently started beta testing among a select group of users. However, Musk said that the X team expects to bring XChat to all users sometime this week, unless they encounter scaling issues during the rollout. In a series of X posts, Musk also noted that the updated version of XChat has been built on Rust with "Bitcoin style"...

None USDC Stablecoin Parent Circle Raises Price Range, Size of IPO Fintech firm Circle Internet Group, the issuer of the USDC stablecoin, on Monday increased the size and price range of its planned initial public offering (IPO). In a regulatory filing, Circle said it plans to offer 12.8 million shares of Class A common stock at between $27 and $28 each. Last Tuesday, it said it intended to offer 9.6 million Class A shares at between $24 and $26 apiece. In addition, Circle wrote that selling stockholders identified in its prospectus are offering 19.2 million shares, up from the previous 14.4 million. Circle said it has been approved for listing on the New York Stock Exchange (NYSE) under the ticker "CRCL." According to...

Crypto ownership in the U.S. isn’t limited to tech elites or financial risk-takers anymore. According to the National Cryptocurrency Association, 21% of American adults now hold some form of crypto. Over the years, Dave Ramsey has taken a firm stance against cryptocurrency, advising against investing in it. In a recent appearance on the Shawn Ryan Show, he acknowledged crypto is evolving, but his message remains to approach with caution and know exactly what kind of risk is on the table. In the interview, Ramsey said he believes cryptocurrency is going to continue to get bigger and better and “continue to stabilize.” While he admitted that the crypto market was once a “Wild Wild West crap show,” he now sees progress in its structure...

Michael Saylor's Strategy bets on Bitcoin amid global tension Michael Saylor's Strategy (Nasdaq: MSTR), formerly MicroStrategy, bought 705 Bitcoin worth approximately $75 million between May 26 and June 1, as per the company's 8-K filing with the Securities and Exchange Commission (SEC) on June 2. This is a significant development amid the ongoing global tension emerging out of the war in Europe. Strategy is the world's largest public corporate holder of Bitcoin. The business intelligence firm that began adding Bitcoin to its account book in 2020 now holds 580,955 BTC worth more than $60 billion at the time of writing. While Strategy made the latest Bitcoin acquisition at the average purchase price of $106,495 per BTC, its overall...

Find out how much you could earn with today’s money market account rates. The Federal Reserve cut its target rate three times in 2024. So deposit rates — including money market account (MMA) rates — have started falling. It’s more important than ever to compare MMA rates and ensure you earn as much as possible on your balance. Overview of money market account rates today The national average money market account rate stands at 0.62%, according to the FDIC. Even so, some of the top accounts are currently offering rates of 4% APY and up. Since these rates may not be around much longer, consider opening a money market account now to take advantage of today’s high rates. Here’s a look at some of the top MMA rates available today...

SHIB's price chart. (TradingView/CoinDesk) Key Technical Insights SHIB, the second-largest meme token by market cap, is currently under pressure in bearish territory, marked by its position below the Ichimoku cloud. The technical indicator, Ichimoku Cloud, provides a comprehensive view of potential market trends and support or resistance levels. SHIB experienced notable selling pressure after testing a key resistance level of 0.00001307, subsequently falling to 0.00001274. This move reiterates the bearish trend as the token remains below the cloud. The broader market conditions, including geopolitical tensions and trade policy shifts, continue to exert an influence on SHIB and the cryptocurrency market as a whole. These factors...

Strategy Expands Bitcoin Holdings by 705 BTC, Lifts Total BTC Stash to Over $60B Strategy (MSTR) has expanded its bitcoin BTC holdings with the purchase of an additional 705 BTC for approximately $75 million, bringing the company’s total bitcoin holdings to 580,955 BTC. This latest acquisition was made at an average price of $106,495 per bitcoin, which adjusts the company’s overall average purchase price to $70,023 per bitcoin. To fund this purchase, Strategy utilized a series of at-the-market (ATM) equity offerings, drawing from the perpetual preferred share classes STRK and STRF. Between May 26 and June 1, the company raised capital by selling 353,511 shares of STRK preferred stock for $36.2 million and 374,968 shares of STRF...

Illustration: Dan Kitwood (Getty Images) Cryptocurrency is a growing sector in finance, influencing how we approach financial systems and investment opportunities. Each digital asset in the market has its own features and potential. But with thousands of cryptocurrencies in existence, knowing which ones might be right for you can be a challenge. Whether you are new to digital assets or just looking to stay informed in the global financial conversation, understanding the more prominent cryptocurrencies can provide perspective on how the space is developing. Here are the top 15 digital assets that stand out for their market value, innovation, and adoption potential. 15. Dai (DAI) Classified as a stablecoin — a type of cryptocurrency...

Zacks Market Edge Highlights: IBIT, GLD and GLDM For Immediate Release Chicago, IL – June 2, 2025 – Zacks Market Edge is a podcast hosted weekly by Zacks Stock Strategist Tracey Ryniec. Every week, Tracey discusses the hottest investing topics in stocks, bonds, and ETFs and how they impact your life. Bitcoin vs. Gold: Should You Buy Now? Welcome to Episode #446 of the Zacks Market Edge Podcast. This week, Tracey looks at two alternatives to stocks: Bitcoin and Gold. No, Tracey Didn’t Buy Bitcoin Tracey is not a fan of Bitcoin or cryptocurrencies but respects a strong bull market. She has owned gold and currently owns two gold miners. Should stock investors consider Bitcoin or gold near their highs? Bitcoin Versus Gold: Should...

Ethereum Co-Founder Credits Michael Saylor for Crypto Treasury Firm Nudge (Bloomberg) -- Long-time crypto advocate and Ethereum co-founder Joe Lubin says he was swayed into launching a firm to invest in the network’s native currency about six months ago by the best-known advocate of stockpiling digital tokens. “I was at a dinner with Michael Saylor, I did a little bit of research, I started talking to my colleagues about how cool it could be,” Lubin, the founder and chief executive officer of Ethereum software infrastructure provider Consensys, said in an interview. “Nobody in our company had done a deep dive on it. We saw, hey we don’t see anything overly dangerous in the strategy.” The eye-popping returns the software firm formally...

Project-Specific Catalysts The Olympia Upgrade (May 2025) introduced EIP-1559, burning a portion of transaction fees to reduce ETC’s supply growth. Combined with the launch of a decentralized treasury and governance DAO, this aims to attract developers and stabilize long-term funding. Historical parallels, such as Ethereum’s EIP-1559 in 2021, suggest such upgrades can boost sentiment, though short-term price reactions may lag adoption. Market & Competitive Landscape ETC’s position as the largest PoW smart contracts blockchain post-Ethereum’s Merge (2022) attracts miners, but competition from Bitcoin, Dogecoin, and Litecoin pressures its hash rate dominance. The recent altcoin season (May 2025) driven by Ethereum’s rally has lifted...

Stablecoin issuer Circle targets $7.2 billion valuation in upsized US IPO Crypto firm Circle Internet said on Monday it was targeting a valuation of up to $7.2 billion on a fully diluted basis in its upsized initial public offering in the United States, underscoring growing momentum in the stablecoin market. The upsized IPO indicates strong investor appetite for crypto firms under U.S. President Donald Trump, who has not only promised friendlier regulations for the sector, but also has several crypto projects associated with him. New York-based stablecoin issuer Circle and some existing investors are now looking to raise up to $896 million from 32 million shares priced between $27 and $28 apiece, up from their earlier offer of 24...