Crypto News

Cryptocurrency companies in the U.S. are moving towards becoming more integrated with traditional finance by seeking banking licenses and preparing for potential stablecoin regulations. Circle and BitGo are among the firms working on applications for U.S. bank charters. Coinbase and Paxos are reportedly exploring similar steps. These efforts come as Congress debates new laws that would impose stricter rules on stablecoin issuers, aiming to regulate how these dollar-pegged digital tokens are managed. BitGo is applying for a full banking charter, which would allow it to offer services such as deposits and loans. The company is also involved with USD1, a stablecoin backed by World Liberty Financial, which is supported by members of the...

Bitcoin’s recent surge, briefly surpassing $87,700, follows a weakening U.S. dollar and speculation around upcoming Treasury buybacks. This could be the “last chance” to buy Bitcoin for less than $100,000, as the U.S. Treasury repurchasing its own debt may inject more liquidity into the market. These buybacks are seen as a powerful force for Bitcoin’s price, which could push it well past the $100,000 barrier. The rise in Bitcoin’s price has been supported by macroeconomic conditions, including the weakening U.S. dollar, which reached its lowest point since March 2022. As the dollar drops, Bitcoin becomes more attractive to investors seeking a hedge. This sentiment is further amplified by a growing correlation with gold, which has...

The week has begun on an interesting note, with the U.S. dollar crashing to three-year lows alongside losses on Wall Street, yet bitcoin, which usually follows the sentiment on Wall Street, stands tall. This could just be the beginning. The shift away from the USD and toward seizure and censorship-resistant assets like BTC and stablecoins could accelerate if President Donald Trump follows through with his reported plans to fire Federal Reserve Chairman Jerome Powell, which have pushed the DXY and U.S. stock markets lower today. That's the lesson from Turkey, which has seen its currency, the lira (TRY), collapse over the years mainly due to President Recep Tayyip Erdogan's repeated interference in the central bank's operations. The...

President Donald Trump had the most lavish inauguration week in history, thanks to a record $239 million in donations from corporate supporters and executives, according to a Sunday filing with the Federal Election Commission. A hefty portion came from the crypto industry, which has been one of Trump's most vocal supporters: Crypto firms and their leaders gave $18 million in inauguration donations to the 47th president. Other big donors include oil companies like Exxon Mobil, big tech firms like Google, and a lobby group for the U.S. vaping industry. Ripple Labs, which has battled the Securities and Exchange Commission in a long-running court case, led the pack with almost $4.9 million. Ripple's donation was the second largest among...

Where is the best place to store your money? According to a survey by Piere, an AI-powered financial management app, the average American stashes $544 in cash or valuables at home. Wanting to keep your money safe is fine, but hoarding it in the wrong places could do more harm than good. Think about the story back in 2009 where a woman didn’t realize her mother stashed $1 million in cash in an old mattress that she threw away. Even if your mattress (or an equivalent item) is still in your home, there are huge risks with storing cash or its equivalent at home. Most insurance policies may not provide coverage for cash or even crypto, and even if they do, there may be policy limits. Don’t forget the opportunity costs for cash. You’re...

Nasdaq 100 at 4:01 p.m. ET on April 21, 2025 US stocks tanked on Monday as President Trump hurled criticism at Federal Reserve Chair Jerome Powell again, sparking concerns of Fed independence at a time when markets have been reacting to the president's whipsawing tariff policy. The S&P 500 (^GSPC) was down more than 2.3%, while the tech-heavy Nasdaq (^IXIC) sank 2.5%. The Dow Jones Industrial Average (^DJI) dropped almost 2.4%, or nearly 1,000 points. As Yahoo Finance notes, the stock market remains largely at the mercy of Trump's tariffs. Different headlines and shifts in narratives have driven big market swings over the past several weeks, with all three indexes down since Trump's "Liberation Day" event. Meanwhile, investors are...

Nasdaq 100 at 4:01 p.m. ET on April 21, 2025 US stocks tanked on Monday as President Trump hurled criticism at Federal Reserve Chair Jerome Powell again, sparking concerns of Fed independence at a time when markets have been reacting to the president's whipsawing tariff policy. The S&P 500 (^GSPC) was down more than 2.3%, while the tech-heavy Nasdaq (^IXIC) sank 2.5%. The Dow Jones Industrial Average (^DJI) dropped almost 2.4%, or nearly 1,000 points. As Yahoo Finance's Josh Schafer notes, the stock market remains largely at the mercy of Trump's tariffs. Different headlines and shifts in narratives have driven big market swings over the past several weeks, with all three indexes down since Trump's "Liberation Day" event...

Bitcoin has surged as stocks have tanked amid a tariff-driven sell-off. (AP/Mark Lennihan) Bitcoin (BTC-USD) surged as much as $88,000 on Monday while stocks tanked, prompting one Wall Street strategist to note that the world's largest cryptocurrency has outperformed the Nasdaq Composite (^IXIC) against the backdrop of a trade war. "Bitcoin outperformance to Nasdaq has been striking all through the U.S tariffs crisis - Bitcoin is down 10% YTD vs. Nasdaq down 16% YTD," Bernstein managing director Gautam Chhugani wrote on Monday before the market open. "We expect Bitcoin and broader global blockchain assets to play a defining role, amidst the deglobalization trends." Chhugani expects that bitcoin will benefit from the Trump...

Nasdaq 100 at 2:20 p.m. ET on Monday, April 21, 2025 US stocks tanked on Monday as President Trump hurled more social media insults toward Federal Reserve Chair Jerome Powell, sparking concerns of Fed independence at a time when markets are still reacting to the president's whipsawing tariff policy. The S&P 500 (^GSPC) was down more than 2.8%, while the tech-heavy Nasdaq (^IXIC) sank 3%. The Dow Jones Industrial Average (^DJI) dropped nearly 2.7%, over 1,000 points. As Yahoo Finance's preview of the week highlighted, the stock market remains largely at the mercy of Trump's tariffs. Different headlines and shifts in narratives have driven big market swings over the past several weeks, with all three indexes down since Trump's...

Bitcoin has surged as stocks have tanked amid a tariff-driven sell-off. (AP/Mark Lennihan) Bitcoin (BTC-USD) surged as much as $88,000 on Monday while stocks tanked, prompting one Wall Street strategist to note that the world's largest cryptocurrency has outperformed the Nasdaq Composite (^IXIC) against the backdrop of a trade war. "Bitcoin outperformance to Nasdaq has been striking all through the U.S tariffs crisis - Bitcoin is down 10% YTD vs. Nasdaq down 16% YTD," Bernstein managing director Gautam Chhugani wrote on Monday before the market open. "We expect Bitcoin and broader global blockchain assets to play a defining role, amidst the deglobalization trends." Chhugani expects that bitcoin will benefit from the Trump...

A wide array of companies helped Donald Trump shatter fundraising records during his second inauguration, a new filing with the Federal Election Commission shows, with nearly 140 donors giving at least $1 million each. Many of the gifts were previously announced, but the newly released list offers a more complete accounting and spans over 650 donors. The list is also a veritable who’s who of corporate America, with donors ranging from OpenAI CEO Sam Altman to Chevron to current members of the Trump administration. All told, these donors helped the Trump-Vance Inaugural Committee net a record-setting $239 million haul. It was a figure that more than doubled the previous record of $107 million — raised eight years ago during Trump’s...

Bitcoin rallied to its highest level since Donald Trump’s tariff announcements in early April as the dollar slumped amid renewed fears over the US president’s efforts to remove Federal Reserve Chairman Jerome Powell. The largest cryptocurrency by market value jumped about 3.9% to top $88,400 on Monday morning in New York, according to data compiled by Bloomberg. That erased almost all of the losses sustained since Trump’s April 2 reciprocal tariff announcement, which plunged global markets into turmoil. The rebound comes as the dollar and US stocks slid on Monday after the president’s criticism of the Federal Reserve raised concerns over its independence. A gauge of the dollar hit its lowest point since January 2024 after the National...

President Trump posted on Truth Social Monday morning doubling down on his opinion that the Federal Reserve should be cutting interest rates. US stocks fell sharply Monday as President Trump hurled more social media insults towards Fed Chair Jerome Powell, sparking concerns of Fed independence at a time when markets are still reacting to the president's whipsawing tariff policy. The S&P 500 (^GSPC) was down over 2%, while the tech-heavy Nasdaq (IXIC) sank 2.6%, leading the way down. The Dow Jones Industrial Average (^DJI) dropped 1.9%, over 700 points. The stock market remains largely at the mercy of Trump's tariffs. Different headlines and shifts in narratives have driven big market swings over the past several weeks, with all...

Bitcoin's censorship-resistant, decentralized setup empowers individuals by facilitating peer-to-peer transactions without government interference or corporate control. It's an idea that resonates even more strongly today in light of reports that President Donald Trump is exploring ways to remove Jerome Powell, the chair of the Federal Reserve, which is the world's most powerful central bank. National Economic Council Director Kevin Hassett talked about Trump's intentions Friday, and markets responded early Monday by selling the dollar and the U.S. stock futures. The Dollar Index, which tracks the currency's exchange rate against major fiat currencies, slipped to a three-year low of 98.00 while gold touched new highs above $3,400 per...

Bitcoin's price crossed the $87,000 threshold on Sunday, marking the first time it has reached this level since April 2. The world's largest cryptocurrency is currently trading at approximately $87,325, reflecting a 2.4% increase in the past 24 hours. Analysts attribute this rally to a resurgence in institutional interest, particularly highlighted by the recent acquisition of 3,459 BTC by Strategy, formerly known as MicroStrategy. Despite reporting unrealized losses of $5.91 billion on its BTC holdings in the first quarter, Strategy's actions suggest a renewed commitment to Bitcoin amid market uncertainty. An analyst at Kronos Research noted that the rally is also fueled by an uptick in global liquidity, driven by an expanding M2...

BTC's hourly and daily charts. (TradingView/CoinDesk) Bitcoin's (BTC) recent range play resolved bullishly early Monday, shifting focus to the $90,000-$92,000 range, which was previously a strong support zone. The leading cryptocurrency by market value rose past $87,000, convincingly breaking out of a week-long consolidation between $83,000 and $86,000. The renewed willingness among the bulls to lead the price action indicates the resumption of the recovery from the April 7 lows under $75,000. It also means potential for a continued move higher to the $90,000-$92,000 range, which acted as the floor, arresting price drops from December to early February. The support zone was eventually breached in late February, spurring a rapid...

Surging gold prices and bitcoin’s (BTC) relatively strong price action amid a global market sell-off have some traders revisiting the latter’s role as “digital gold” — a big narrative in bitcoin’s early years but one that has lost steam in recent times. BTC zoomed above $87,000 in Asian morning hours, with Cardano’s ADA, BNB Chain’s BNB, XRP, and ether (ETH) adding as much as 1.5%. The spike reversed all declines since Thursday, with tokens such as Solana’s SOL up 5.2% in the past week. The tariff-driven trade wars have sparked fears of inflation and currency devaluation, prompting comparisons of the asset to gold’s historical role as a hedge. “Although bitcoin has had a close correlation with U.S. equities, it seems to be changing...

Cryptocurrency exchange Bybit's CEO Ben Zhou said that 27.95% of the funds lost in the $1.4 billion exploit engineered by the North Korean Lazarus Group have gone dark or become untraceable. "Total hacked funds of USD 1.4bn around 500k ETH. 68.57% remain traceable, 27.59% have gone dark, 3.84% have been frozen. The untraceable funds primarily flowed into mixers then through bridges to P2P and OTC platforms," Zhou said in an executive summary published on X on Monday. The untraceable funds were moved into mixers before being transferred through bridges to P2P (peer-to-peer) and OTC (over-the-counter) platforms, the post explained, mentioning the use of Wasabi, a crypto mixer, to wash off a certain amount of BTC, following which a...

Bitcoin rallied to its highest level since Donald Trump’s tariff announcements as the dollar slumped amid renewed fears over the US president’s efforts to remove Federal Reserve Chairman Jerome Powell. The largest cryptocurrency by market value jumped about 3% to top $87,600 on Monday morning in Singapore. That erased most of the losses sustained since Trump’s April 2 reciprocal tariff announcement, which plunged global markets into turmoil. The rebound comes as the dollar and US stock-index futures fell Monday after the president’s criticism of the Federal Reserve raised concerns over its independence. A gauge of the dollar hit its lowest point since January 2024 after the National Economic Council Director Kevin Hassett said Friday...

Bitcoin (BTC) outshined the otherwise volatile alternative cryptocurrencies early Monday as the dollar index (DXY) crashed to a three-year low on reports that President Donald Trump is exploring ways to remove the Federal Reserve Chairman Jerome Powell. BTC rose over 2% to $87,200, hitting the highest since April 2, according to data from CoinDesk. The move marked a bullish resolution to the recent consolidation between $83,000 and $87,000. Major alternative cryptocurrencies such as payments-focused XRP, Ethereum's ether, and Cardano's ADA rose over 1% each, lagging BTC. In the forex market, hedge funds sold the U.S. dollar against major currencies, including euro, yen, and the Aussie dollar, driving the dollar index to 98.5, the...