Crypto News

Popular economist and longtime fund manager Peter Schiff resumed bashing the crypto industry on May 23, this time aiming at stablecoins. In a post, Schiff argued that U.S. dollar-backed stablecoins are economically worthless, as they "won't do anything to help the U.S. economy or finance the U.S. government's exploding deficits." He said stablecoins are mostly liquidity vehicles in the crypto world, not major tools in the wider financial system. “The primary use of stablecoins will be as trading pairs with other crypto tokens, mainly Bitcoin,” he wrote. “The main purpose is to draw more money into the crypto casino.” In answer to those concerns, Congress introduced the Stablecoin Act, which would require stablecoin issuers to...

Photo: Michael M. Santiago (Getty Images) JPMorgan Chase, Bank of America, and others might launch their own crypto. Since cryptocurrency’s inception, a major selling point was that it sidestepped the banking system. Now that President Donald Trump appears to be profiting off his own memecoin, the major banks are considering launching their own — stablecoin, that is. According to the Wall Street Journal, JPMorgan Chase, Bank of America, Citigroup, Wells Fargo, and other banking giants have been discussing a stablecoin crypto collaboration. What is a stablecoin? They’re a type of crypto asset backed by cash, gold, bonds, or other regulated assets, pegged to fiat value, and are used by investors entering the market to convert their...

President Trump hosted an exclusive dinner Thursday night for the 220 biggest buyers of his $TRUMP meme coin, an event that stirred controversy in the nation's capital during a pivotal moment for the crypto world. “The past administration made your lives miserable,” Mr. Trump told the dinner guests. The Biden administration "persecuted crypto innovators, and we’re bringing them back into the USA where they belong,” he added. The highly publicized event at his private Virginia golf club was the source of widespread unease among Democrats, who highlighted their conflict of interest concerns, and even some GOP lawmakers. "This is my president that we’re talking about, but I am willing to say that this gives me pause," Wyoming...

President Trump hosted an exclusive dinner Thursday night for the 220 biggest buyers of his $TRUMP (TRUMP-OFFICIAL-USD) meme coin, an event that stirred controversy in the nation's capital during a pivotal moment for the crypto world. “The past administration made your lives miserable,” Mr. Trump told the dinner guests. The Biden administration "persecuted crypto innovators, and we’re bringing them back into the U.S.A. where they belong,” he added. The highly publicized event at his private Virginia golf club was the source of widespread unease among Democrats, who highlighted their conflict of interest concerns, and even some GOP lawmakers. "This is my president that we’re talking about, but I am willing to say that this gives me...

Treasury Secretary Scott Bessent indicated that US regulators might ease a rule this summer that has limited banks' trading in the $29 trillion Treasuries market. “We are very close to moving” on the so-called supplementary leverage ratio (SLR), Bessent said. He mentioned that the three primary bank regulators — the Federal Reserve, the Office of the Comptroller of the Currency, and the Federal Deposit Insurance Corp. — are addressing the issue. Bessent’s comments gave a boost to a hedge-fund bet that Treasuries will outperform interest-rate swaps. This wager had faced challenges due to a surge in long-dated yields and depends on regulatory adjustments to the SLR. Thirty-year US yields were trading around 5.02%, with the spread...

Crypto markets tumbled on Friday, as U.S. President Donald Trump surprised by announcing a 50% tariff on all goods from the European Union that would go into effect on June 1. At the time of writing, Bitcoin, which had been trading over $111,000 yesterday, had dropped 2.6% in the last 24 hours to $109,317. Ethereum dropped 3.5% to $2,560.01 as the risk sentiment globally continues to decline. Altcoins also faced selling pressure. XRP dropped 2.6%, Cardano declined by 2.7%, and TRON was down over 4.7%, indicating a general elevated sense of anxiety among market participants. While other assets, like Solana and Dogecoin, finished slightly positive over the last seven days, all indications point towards uncertainty in the short-term...

Companies owned by U.S. banking giants such as JPMorgan Chase, Bank of America, Citigroup, and Wells Fargo are exploring joining forces to launch a joint stablecoin, The Wall Street Journal reported on May 23. The talks are still at an early stage, as the banks are evaluating the changing regulatory norms and stablecoin demand before making a call. A stablecoin is a type of cryptocurrency that attempts to maintain a stable value, unlike traditionally volatile cryptocurrencies such as Bitcoin. It is pegged to a relatively stable asset such as a fiat currency like the U.S. dollar or a commodity like gold. Payments firms linked to Early Warning Services, the owner of digital payments network Zelle, and the payment network Clearing House...

Beyond Bitcoin: These 3 Altcoins Could Surge — Are They Safe Investments? There is no way around the fact that it can be tricky to navigate cryptocurrency, but despite what some experts may say, there could still be a bear case for Bitcoin buy and hold for the long term. However, there’s also a strong bull case for the short term, but the potential long-term gains seem to slightly edge out the short-term woes. This is because the bull thesis for buying or holding Bitcoin is logically supported in the longer term regarding the coin’s prospects. However, just because it is a more recognized name in the crypto game doesn’t mean it is the end-all be-all investment option in this market. That being said, any crypto bull run triggers a lot...

Liquidations across all digital assets (CoinGlass) Crypto traders betting on a steady bitcoin rally received a stark reminder of headline risks stemming from Donald Trump’s latest tariff threats. Over $300 million in leveraged derivatives positions were liquidated across centralized exchanges in a short period as crypto prices plummeted following the news. Nearly all liquidations were from long positions, with BTC longs accounting for $107 million of the total. Ethereum's ether followed with close to $87 million in liquidations. Other tokens, including Solana, Dogecoin, and SUI, saw liquidations ranging from $10 million to $18 million. The sell-off was triggered when Trump proposed a 50% tariff on imports from the European Union...

Medical equipment company Semler Scientific (SMLR) announced its third-largest bitcoin BTC purchase since adopting a bitcoin standard roughly one year ago. The company in the ten days ending May 22 acquired 455 BTC for $50 million, averaging $109,801 per bitcoin. This acquisition, funded through its at-the-market (ATM) equity offering program, brings Semler’s total holdings to 4,264 BTC, purchased for $390 million and currently valued at more than $450 million. To date, the company has issued 3,003,488 shares under its April 15 $500 million ATM program, raising $114.8 million. Now roundly used as a key performance indicator by most companies adding bitcoin to their balance sheet, Semler's BTC Yield, has risen to 25.8% in 2025. BTC...

Bitcoin BTC is climbing up the asset ranks. The rally that this week took it to new highs has lifted its market capitalization to $2.2 trillion for the first time. It's already overtaken Amazon and Google to become the world's fifth-largest asset and now sits behind iPhone maker Apple, software developer Microsoft, and chipmaker Nvidia, all of which are valued at over $3 trillion. Way ahead is hard-to-produce, store-of-value gold at an estimated $22 trillion. Bitcoin’s No. 5 ranking reflects its growing status among traditional and institutional investors and comes as market sentiment turns decisively bullish, with strong buying action across all investor cohorts —from whales to minnows — and the BTC price holding steady around the...

Image source: Getty Images. Ethereum, the world's second-largest cryptocurrency, has had a challenging start to the year, down 20% in mid-May and underperforming the broader crypto market. However, several catalysts could position Ethereum for a major comeback in the second half of 2025. **Spot Ethereum ETFs** One way to assess a cryptocurrency's momentum is by analyzing investor inflows and outflows, especially through exchange-traded funds (ETFs) based on their current spot prices. Ethereum, one of only two cryptocurrencies with such ETFs, experienced significant investor outflows earlier in the year. However, inflows are beginning to appear again, with May seeing over $100 million in new money flowing into spot Ethereum ETFs...

Image source: Getty Images. More good news continues to roll in for the crypto industry. Market bellwether Bitcoin (CRYPTO: BTC) is back above $100,000 and just set a new high of more than $111,000 as of this writing. And, on May 19, cryptocurrency exchange Coinbase Global (NASDAQ: COIN) formally joined the S&P 500. While crypto enthusiasts view the inclusion of Coinbase in the S&P 500 as cause for celebration, the critics and naysayers are already out in force. Here's what they are saying. The glass-half-empty view of Coinbase Coinbase joining the S&P 500 represents a changing of the guard. As the first-ever native crypto company in the S&P 500, Coinbase will replace credit-card company Discover Financial Services, which is being...

President Donald Trump appointed Elon Musk to lead the new Department of Government Efficiency (DOGE) to reduce government spending by up to $2 trillion by July 4, 2026. However, in April 2025, Musk announced that not only would DOGE lower its projected savings estimate for the fiscal year 2026 from $1 trillion to $150 billion, but that his time allocation to DOGE would drop significantly to the extent of working one to two days per week with the department. Though many agree that the government could be run more efficiently, it remains to be seen whether DOGE will have a positive effect on the current economic volatility. As for Musk, though he claims he now wants to refocus on his other companies, such as Tesla, he has not stepped...

Image source: Getty Images. Shares of electric-car maker Tesla (NASDAQ: TSLA) have been on a tear recently. The stock has risen more than 40% since early April, despite the company reporting a significant decline in earnings per share in its first quarter, as automotive revenue fell 20% year over year. Furthermore, management refrained from providing a specific outlook for vehicle sales this year as the company navigates an uncertain economic environment. So, what has investors so bullish on the stock even as fundamentals suffer? It largely boils down to one thing: big expectations for Tesla's upcoming launch of its Robotaxi service -- or an autonomous ride-sharing network. If the service works, the company could not only benefit...

Image source: Getty Images. Which Is More Likely to Hit $5: XRP (Ripple) or Shiba Inu? Key Points XRP and Shiba Inu are both subjected to a speculative fervor regarding their potential price targets. Although historically, some of those high prices have been achieved, the likelihood of either reaching $5 depends on different factors. There's more than one factor making this an easy call XRP and Shiba Inu have both been referred to as meme coins, although XRP has utility value as a tool and an asset, supporting a substantial market cap. It is backed by banks, currency exchanges, and institutional investors who use it for international money transfers. Ripple, the issuer of XRP, continues to enhance its blockchain's technology...

Image source: Getty Images. Since Donald Trump won the presidential election in November, Bitcoin has performed extremely well and has proved to be remarkably resilient, surpassing $100,000 on several occasions. However, it has clearly benefited from the belief that it is a form of digital gold. Investors have grown increasingly concerned about the U.S. government's fiscal situation and have piled into assets like gold and Bitcoin, seemingly as a flight to safety. But not all cryptocurrencies have benefited, and some have been much more volatile and vulnerable to bad news. XRP has rocketed higher since Trump's victory but has fallen from highs reached earlier this year. Could investing $25,000 in XRP make you a millionaire? Before...

"Should You Buy Ethereum While It's Under $2,600?" Key Points Bitcoin (CRYPTO: BTC) has seriously overshadowed Ethereum (CRYPTO: ETH) this year. The leading crypto rallied to a new all-time high in January, while Ethereum struggled to come close to its 2021 glory days. This week, Bitcoin set a new price record, and Ethereum is still almost 50% below its record high set in late 2021. However, the tide may be shifting. Ethereum has gained about 50% during the past month. Moreover, several factors might push its price higher before year-end. If you're wondering whether now is a good time to buy Ethereum, here are some considerations that may figure in its price. Why Ethereum could be poised for a rally Ethereum has a lot going for it...

Key Points The total value of all cryptocurrencies in circulation is currently $3.5 trillion, nearing the record high of $3.9 trillion set in December. Positive sentiment is returning to the financial markets in 2025, boosted by a series of crypto-friendly policies enacted by President Donald Trump. Ripple's XRP, Dogecoin, and Bitcoin are three of the world's most popular cryptocurrencies for different reasons, and each is benefiting uniquely from the pro-crypto Trump administration. Dogecoin was the top performer in 2024 with a gain of 251%, but Bitcoin is the only one continually setting new highs. Which might be the best buy for the remainder of 2025? The Case for XRP Ripple is a financial technology company with a system called...

Justin Sun at the $TRUMP memecoin dinner (Tron) The last time Justin Sun set foot in the U.S., he was Grenada's WTO ambassador and was navigating the rocky waters of former President Biden's crypto crackdown. Times have changed. Now, he's dining at an event hosted by President Donald Trump for the largest holders of his TRUMP memecoin and celebrating a regulatory breakthrough, as issuers eye a potential Tron ETF, signaling a striking reversal in crypto's American fortunes. Speaking exclusively with CoinDesk after the Presidential dinner, which was met by protestors, the Tron founder dismissed allegations that the token is a vehicle for bribery. He called skeptics short-sighted, arguing Trump's embrace of crypto could spark a new...