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  • Official Trump ($TRUMP) soars 13% as meme issuer eyes Republic acquisition

    Official Trump ($TRUMP) soars 13% as meme issuer eyes Republic acquisition

    Official Trump ($TRUMP) soars 13% as meme issuer eyes Republic acquisition

    • Fight Fight Fight LLC is reportedly planning to purchase Republic’s US operations.
    • The deal might enrich the meme’s utility in payment apps and startup fundraising.
    • $TRUMP traders are enjoying profits amidst the rebound.

    Bearish sentiments gripped the cryptocurrency market today as Bitcoin plunged below $110,000.

    While the 2% decline in global market capitalisation confirms broader weakness, the Official Trump meme token maintained a bullish 24-hour chart.

    The meme crypto extended its weekly gains to over 40% after rallying 13% the previous day.

    $TRUMP continued its rally after news emerged that the company behind the project, Fight Fight Fight LLC, plans to acquire the US operations of a leading crowdfunding and investment platform, Republic.

    The news stirred the digital assets community, propelling the politically charged altcoin over the last 24 hours.

    What started as a satirical token tied to the US president could be evolving into a financial product that experiments with the combination of real-world finance, blockchain fundraising, and politics.

    Notably, Republic offers retail and institutional investors streamlined access to startup fundraising, RWAs, and tokenised investments.

    Integrating Official Trump into Republic’s ecosystem could merge meme crypto enthusiasm and real-world blockchain use cases.

    Imagine investing in a themed token that funds startups, backs innovative ventures, or even supports online payments.

    $TRUMP eyes real-world utility with the Republic deal

    If successful, the strategic acquisition would enable Fight Fight Fight LLC to control Republic’s robust crowdfunding ecosystem.

    The meme coin will possibly leverage Republic’s reputation to gain legitimacy and credibility.

    Such perks can attract more investors and partnerships.

    Republic’s role in fueling blockchain adoption

    Republic has been vital in supporting cryptocurrency’s mainstream acceptance.

    It focuses on inclusive investment models and tokenisation, allowing individuals to own fractions of real-world assets previously restricted to wealthy investors and venture capitalists.

    Now, Fight Fight Fight LLC wants to gain control of Republic’s operations in the United States.

    Besides boosted exposure, the deal could mean access to a regulatory ecosystem, a significant user base, and a bridge between fast-moving meme culture and traditional finance.

    $TRUMP price outlook

    The digital asset is trading at $8.20 after a brief correction from daily peaks.

    Its daily trading volume has increased by more than 35% to $2.6 billion.

    Rising volumes amid bullish price actions signal trader optimism and possibilities of continued rallies.

    $TRUMP has gained over 41% the previous week, and bulls seem ready to push for more.

    Moreover, prevailing whale activity suggests confidence in $TRUMP’s performance.

    For instance, one trader is dominating Hyperliquid and Solana platforms with substantial bets on the meme token.

    According to Lookonchain, this participant spent 5,346 Solana tokens, worth around $1.07 million, to buy 165,401 TRUMP coins on the SOL blockchain.

    He entered at roughly $6.45, and is now cheering approximately $335,000 unrealized profit.

    The same investor deposited $485,669 in USDC into the perp DEX Hyperliquid.

    Here, the player used maximum leverage for a $9.5 million long position.

    As of this writing, the trader sat on roughly $1.18 million in unrealized gains, bringing his total returns to $1.5 million.

    The latest whale activity paints an optimistic picture for Official Trump in the near term.

    Corporate expansion developments and the excitement around the alt as Donald Trump discusses a trade deal with China’s Xi Jinping has formed a mix of momentum and hype.

     

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  • Crypto markets turn red after Trump threatens to halt cooking oil imports from China

    Crypto markets turn red after Trump threatens to halt cooking oil imports from China

    Crypto markets turn red after Trump threatens to halt cooking oil imports from China

    • The crypto market turned red after a new tariff threat from President Trump.
    • Trump threatened to halt cooking oil imports from China over soybean purchases.
    • Bitcoin fell 2.4 percent and Ether dropped 3.3 percent within an hour of the post.

    A single social media post has once again sent a jolt of fear through the cryptocurrency market, as a fresh and unconventional tariff threat from US President Donald Trump ignited a new wave of selling, plunging the entire digital asset space into the red.

    The sudden downturn is a stark and painful reminder of the market’s extreme sensitivity to the president’s every whim, a fragility that was brutally exposed in a historic liquidation event just last week.

    An ‘economically hostile act,’ an immediate market reaction

    The catalyst for the latest sell-off was a post on Truth Social on October 14, in which President Trump took aim at Beijing’s trade behavior, specifically its failure to purchase American soybeans.

    “I believe that China purposefully [is] not buying our Soybeans, and causing difficulty for our Soybean Farmers, [which] is an Economically Hostile Act,” Trump wrote.

    We are considering terminating business with China having to do with Cooking Oil, and other elements of Trade, as retribution. As an example, we can easily produce Cooking Oil ourselves, we don’t need to purchase it from China.

    The market’s reaction was immediate and severe. Within an hour of the post, Bitcoin (BTC) had dropped by 2.4 percent to around $112,861, while Ether (ETH) fell 3.3 percent to $4,108.

    The total crypto market capitalization declined by roughly 2.9 percent, a clear and direct response to the president’s latest trade war gambit.

    The ghost of liquidations past

    This latest sell-off, while significant, is a mere aftershock compared to the earthquake that rocked the market last week.

    A previous threat from Trump to impose 100 percent tariffs on all Chinese imports had triggered a violent and historic crash.

    At its peak, that “bloodbath” saw more than 19.2 billion dollars in leveraged positions liquidated, marking the largest single-day wipeout in crypto’s history and overwhelming major trading platforms like Binance and Coinbase.

    The memory of that carnage is still fresh, and it has left the market in a deeply fragile and nervous state.

    Even before Trump’s latest post, crypto analysts had been warning of an impending market crash, with one popular analyst telling the trading community on October 13 to exit the market as a “big dump” was coming.

    A market on a knife’s edge

    The latest data from Coinglass shows that the market is still bleeding from last week’s wounds.

    Over the past 24 hours, another 715.13 million dollars in positions have been liquidated, the vast majority of which were bullish long positions.

    This new wave of selling, sparked by a presidential post about soybeans and cooking oil, is a potent symbol of the strange and unpredictable forces that now govern the digital asset space.

    In a market haunted by the ghost of a historic crash and stalked by the whims of a single Twitter feed, the only certainty is more uncertainty to come.

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  • Donald Trump Jr. backs social media startup aiming to become a crypto powerhouse

    Donald Trump Jr. backs social media startup aiming to become a crypto powerhouse

    Donald Trump Jr. invests $4M in crypto-focused startup Thumzup despite minimal revenue.

    Donald Trump Jr. has sparked fresh interest with a $4 million stake in Thumzup Media Corp., a little-known Los Angeles startup navigating the crowded world of social media and advertising tech.

    Thumzup, which pays everyday users to promote brands on Instagram, hasn’t made much noise financially as it reported just $151 in revenue and over $2 million in losses in the first quarter of 2025.

    Still, the company has become a curious symbol of a rising trend: businesses stockpiling cryptocurrency as part of their corporate strategy.

    Trump Jr.’s 350,000 shares’ worth move seems less about short-term earnings and more about backing a new kind of digital play.

    Thumzup’s board has greenlit a bold shift in strategy: allowing up to 90% of the company’s liquid assets to be held in Bitcoin.

    As of early July, the company held 19.106 BTC, roughly $2.1 million at current market value.

    While the “Bitcoin treasury” playbook has been popularized by companies like MicroStrategy, Thumzup appears to be taking it a step further.

    After raising $6 million in a recent private funding round, the board gave the go-ahead to diversify its crypto holdings to include Ethereum, Solana, Dogecoin, Litecoin, Ripple, and USD Coin.

    Company leaders say the expanded portfolio is designed not just to hedge against Bitcoin’s volatility, but also to tap into the broader upside of the crypto market.

    It also opens the door for accepting crypto payments from Thumzup’s growing base of over 1,000 advertisers.

    Trump family’s growing interest in crypto

    The Trump family is making deeper inroads into the crypto world.

    Both Donald Trump Jr. and his brother Eric are advising Dominari Securities, the firm that led Thumzup’s recent funding round and began investing in a Bitcoin ETF earlier this year.

    Eric has also taken a seat on the board of Metaplanet, a Japanese company that pivoted from the hospitality business to becoming a major Bitcoin holder.

    At the same time, Trump Media & Technology Group, which owns Truth Social, recently locked in $2.3 billion in funding, much of it reportedly aimed at Bitcoin-related investments.

    The Trump family’s deepening ties to cryptocurrency mark a sharp shift from their earlier stance. Once a vocal skeptic, former President Donald Trump now says he wants to make the US the “crypto capital of the world.”

    For the Trumps, embracing crypto isn’t just about financial opportunity, it’s also a strategic move to connect with a growing base of digital asset enthusiasts and stay relevant in a fast-changing economic landscape.
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  • Bitcoin trades near $109K amid low conviction; Trump Media files for diversified crypto ETF

    Bitcoin trades near $109K amid low conviction; Trump Media files for diversified crypto ETF

    Bitcoin trades near $109K amid low conviction; Trump Media files for diversified crypto ETF

    Bitcoin continues to trade in a narrow range as the Asian trading day begins on Wednesday, with the world’s largest digital asset changing hands above $108,900.

    This period of consolidation comes as market observers point to a lack of strong conviction, even as a new filing reveals plans from Trump Media & Technology Group to launch a diversified ‘Crypto Blue Chip ETF’.

    Bitcoin is holding its ground, and the CoinDesk 20 index, a broad measure of the largest digital assets, is up 1.7% to over 3,100, according to CoinDesk market data.

    However, the current price action feels more like a drift than a decisive rally.

    According to market observers, what separates Bitcoin’s current position from a sustained push past the $110,000 mark is a lack of clear market conviction.

    In a recent report, on-chain analytics firm Glassnode highlighted several indicators of this hesitancy.

    Spot trading volumes for Bitcoin continue to linger below their usual statistical bands, and inflows into spot Bitcoin ETFs have contracted sharply from their recent highs.

    Furthermore, institutional investors appear cautious, despite sitting on significant unrealized gains, as shown by elevated ETF Market Value to Realized Value (MVRV) ratios.

    Trading firm Wintermute, in a market update from earlier this week, described this environment as a “barbell market.”

    They pointed to a stark divide between renewed enthusiasm in high-beta, high-risk assets like memecoins, and a preference for the stability of established large-cap tokens like Bitcoin and Ethereum.

    Notably, last year’s “narrative darlings,” such as AI and DePIN (Decentralized Physical Infrastructure Networks) tokens, have lost investor attention.

    This suggests that traders are either rotating into the speculative frenzy of memecoins—many of the major ones like DOGE, SHIB, and PEPE are up over 8% in the last week—or they are staying put in the perceived safety of BTC and ETH, which are seen as battle-tested and secure.

    With global equity markets largely shrugging off recent geopolitical uncertainties, Bitcoin’s current hesitancy underscores a lingering caution among crypto traders.

    The market seems to be awaiting a clearer directional signal before making a decisive move higher, and things are likely to remain range-bound until that catalyst appears.

    Trump Media’s crypto gambit: the ‘Blue Chip ETF’

    Adding a new dimension to the crypto investment landscape, Trump Media & Technology Group (DJT) has revealed plans to launch another exchange-traded fund (ETF), this one designed to hold more than just Bitcoin and Ether.

    The Truth Social parent company, founded by President Donald Trump, filed on Tuesday to create the “Truth Social Crypto Blue Chip ETF.”

    According to the filing, the proposed fund would be composed of 70% Bitcoin and 15% Ether, complemented by an 8% allocation to Solana, 5% to Cronos, and 2% to XRP.

    The filing stated that the proposed fund would trade on the New York Stock Exchange’s Arca platform, a popular venue for ETFs.

    This news follows a move by Trump Media last month to file for two other ETFs: one that would invest 75% of its assets in Bitcoin and the remainder in Ether, and another that would be comprised solely of Bitcoin.

    In all three instances, Trump Media has indicated that the launches would happen “later this year.” Back in March, Crypto.com announced that it would partner with Trump Media to offer these ETFs.

    This series of filings underscores Trump Media’s deepening commitment to the digital asset space, following its announcement in May of a plan to raise $2.5 billion to purchase Bitcoin for its corporate treasury.

    As of the latest market data, Bitcoin was trading just below $109,000, while Ether was changing hands above $2,600.

    The other components of the proposed ETF, Solana, Cronos, and XRP, were trading at about $151, 10 cents, and $2.30, respectively.

    Shares of Trump Media (DJT) rose close to 3% on Tuesday following the filing, though they remain down more than 40% for the year 2025.
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  • BTC reclaims $110k as Trump Media announces $2.5B Bitcoin treasury

    BTC reclaims $110k as Trump Media announces $2.5B Bitcoin treasury

    Trump Media Plans To Buy Bitcoin

    • Trump Media and Technology Group has announced it is raising $2.5 billion to buy Bitcoin (BTC).
    • Bitcoin price rose slightly amid the news, reclaiming the $110k level.
    • Trump Media, a Donald Trump-linked company, has entered into agreements with 50 institutional investors to raise the funds.

    Trump Media and Technology Group, a Donald Trump-linked company that’s publicly traded in the US, has announced it’s raising $2.5 billion to invest in Bitcoin (BTC).

    Bitcoin price, which had hovered around $109k before the news, jumped to above $110,000 as bulls looked to reclaim the upper hand.

    The news comes as Bitcoin 2025, a major Bitcoin conference, begins in Las Vegas, with Trump sons Eric and Trump Jr expected as speakers.

    Trump Media eyes $2.5 billion Bitcoin treasury

    Nasdaq and NYSE Texas-listed Trump Media, trading under the ticker DJT, is the operator of Trump’s social media app Truth Social as well as streaming platform Truth+ and financial technology firm Truth.Fi.

    On Tuesday, the company revealed plans to raise $2.5 billion from 50 institutional investors, with subscription agreements targeting $1.5 billion of Trump Media common stock and $1 billion in convertible senior secured notes.

    The funds raised from this private placement offering will close on May 29, 2025.

    According to the announcement, the proceeds of the offering will be used to adopt a Bitcoin treasury.

    “We view Bitcoin as an apex instrument of financial freedom, and now Trump Media will hold cryptocurrency as a crucial part of our assets. Our first acquisition of a crown jewel asset, this investment will help defend our Company against harassment and discrimination by financial institutions,” said Devin Nunes, chief executive officer and chairman of Trump Media.

    BTC on the balance sheet

    Adding Bitcoin to the Trump family-owned company’s balance sheet will see it join other publicly-traded companies that now hodl billions of dollars worth of the digital asset.

    The biggest player in this corporate frenzy for BTC is Strategy, which has amassed over $40 billion in BTC since first buying it in 2020.

    The surge in spot Bitcoin exchange-traded funds (ETFs) has also seen BlackRock gobble up thousands of BTC as inflows mount.

    Crypto.com and Anchorage Digital are Trump Media’s custody providers as it embarks on this BTC treasury venture.

    Other companies to help TMTG are Yorkville Securities and Clear Street as co-lead placement agents, and Cantor Fitzgerald as financial advisor.

    Bitcoin price changed hands around $110,065 at the time of writing, just 1.7% off its all-time high of $111,970 reached on May 22, 2025.

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  • BPEP gains steam as Eric Trump eyes cheap BTC to rival Saylor

    BPEP gains steam as Eric Trump eyes cheap BTC to rival Saylor

    Bitcoin Pepe (BPEP) presale nears target as the US and China resume trade negotiations

    With top US crypto investors gearing up for a further push into Bitcoin, the future of the top crypto infrastructure remains lucrative.

    Institutional players are increasingly exploring Bitcoin amid the shifting financial landscape.

    Michael Saylor’s Strategy has been purchasing BTC since 2020 with no plans to sell.

    Meanwhile, Eric Trump’s American Bitcoin confirmed plans to hunt low-cost BTC mining to match Saylor’s Strategy.

    While institutions make moves, Bitcoin Pepe (BPEP), introducing the world’s first-of-a-kind meme ICO on BTC, offers all interested investors a chance to tap BTC’s potential growth.

    The new project gains traction ahead of its 31 May listing, with close to $8.5 million raised so far.

    Bitcoin Pepe's Presale Details

    Eric Trump to rival Saylor’s BTC accumulation

    Bitcoin Pepe’s buzz comes as the crypto space sees attention from big names in the United States.

    American Bitcoin’s co-founder Eric Trump has revealed that his firm plans to explore cheap BTC mining as a long-term accumulation approach.

    He admitted that Michael Saylor’s Strategy is winning the Bitcoin accumulation game.

    However, Trump affirmed that American Bitcoin will eventually become the largest BTC holder globally.

    The competitive accumulation narrative bodes well with Bitcoin Pepe, which aims to unleash BTC’s dormant $2 trillion into the meme sector.

    As institutional participants flood into the leading crypto by value, layer 2 Bitcoin Pepe allows retail players to leverage the anticipated BTC growth.

    Should you invest in Bitcoin Pepe?

    BPEP might be a perfect investment for digital asset enthusiasts looking to capitalize on Bitcoin’s potential and robustness.

    Moreover, the advanced token offers a cost-friendly entry into the crypto world.

    While you may need over $100K to purchase one BTC, Bitcoin Pepe is currently available at $0.0326 per token.

    Moreover, its presale is selling out as investors rush to grab BPEP tokens before the 31 May closing.

    The new meme crypto looks to enrich the Bitcoin ecosystem through Solana-like features.

    Supported by a fully doxxed team and audited smart contracts, BPEP introduces a never-seen-before meme experience on the bellwether digital asset.

    It’s more than your usual sit-and-hold asset, the Bitcoin Pepe network promises passive income by simply participating.

    You can put your BPEP coins to work and receive lucrative returns while navigating the first meme layer 2 on the Bitcoin ecosystem.

    That matches the growing staking narrative, which remains absent in the top crypto.

    For instance, chains like Solana and Ethereum have multiple ways to earn passive income.

    BPEP wants to introduce such possibilities on Bitcoin and with style.

    Its transparency, audited architecture, and security might attract top exchange listings after the 31 May listing.

    With institutions looking for cheap ways to join the Bitcoin movement, BPEP presents a perfect alternative to individual investors.

    You can learn more about Bitcoin Pepe through their official website.

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  • First 100 days under President Trump: crypto industry faces new challenges and opportunities

    First 100 days under President Trump: crypto industry faces new challenges and opportunities

    • SEC and CFTC leadership reshuffled to favour digital asset regulation.
    • Strategic Bitcoin Reserve created, but without new BTC purchases.
    • WLFI stablecoin launch triggered calls for an ethics investigation.

    The first 100 days of US President Donald Trump’s second term have reshaped the cryptocurrency and blockchain landscape through sweeping policy moves, regulatory changes, and controversial personal involvement.

    From the launch of a new meme coin ahead of the Inauguration Day to the creation of a US Bitcoin reserve, President Trump has pushed an aggressively pro-crypto stance, while simultaneously sparking regulatory concern, geopolitical tension, and significant market volatility.

    A series of tariffs, executive orders, and personnel appointments have created both opportunity and uncertainty across digital asset markets.

    WLFI token launch, SEC shakeup mark start of term

    On 20 January, as Trump took the oath of office, his family’s investment firm World Liberty Financial (WLFI) launched the second phase of its token sale.

    The non-transferable WLFI token was followed by a wave of crypto-friendly appointments.

    Paul Atkins was named as SEC Chair on day one, replacing Gary Gensler, while Brian Quintenz was nominated to lead the CFTC.

    David Sacks, a vocal supporter of crypto, was appointed to chair the President’s Council of Advisors on Science and Technology, positioning him as a central figure in both blockchain and AI policymaking.

    The WLFI token, initially marketed as a patriotic memecoin aligned with Trump’s return to power, gained traction on platforms like X and Telegram.

    The token’s branding heavily featured themes tied to American exceptionalism and conservative values.

    Despite being non-tradable and unavailable on major exchanges, the project drew attention from retail investors hoping for eventual utility.

    WLFI’s promotional material also teased exclusive access perks for top holders, culminating in a controversial event later in the quarter.

    Trade tariffs shake miners, while Bitcoin reserve takes shape

    Just weeks into the new administration, Trump’s economic nationalism began to impact the crypto industry.

    On 1 February, broad tariffs were imposed on Mexico, China, and Canada, citing security and fentanyl concerns.

    Markets dipped in response, with Bitcoin miners particularly affected due to higher import costs for essential hardware.

    The situation escalated on 2 April when Trump introduced a 10% minimum tariff on all countries that tax US goods, branding it “Liberation Day.”

    Meanwhile, on  March 7, the president signed an executive order establishing a Strategic Bitcoin Reserve.

    Though the move was intended to formalise the US’s stake in crypto markets, it disappointed many investors by not initiating fresh purchases.

    $TRUMP token dinner fuels backlash and ethics probe

    Donald Trump’s $TRUMP meme coin surged over 50% in value to reach a $2.7 billion market cap after the project announced that the top 220 token holders would be invited to a black-tie dinner with the former US president on 22 May.

    The event, hosted at his private club in Washington, also includes a VIP White House tour for the top 25 holders.

    According to Chainalysis, Trump and his allies earned nearly $900,000 in trading fees from the token in just two days following the announcement.

    Since its January launch, the token has generated $324.5 million in trading fees through a mechanism that redirects a portion of each transaction to insider wallets.

    The Trump Organisation and affiliates reportedly control around 80% of the token supply, which is locked under a three-year vesting schedule.

    The dinner offer has triggered backlash from lawmakers and watchdogs, with Senators Elizabeth Warren and Adam Schiff calling for a federal ethics probe, alleging it may constitute “pay to play” behaviour.

    Meanwhile, Trump’s broader crypto ventures, including the $MELANIA token and World Liberty Financial, have raised $550 million, with Trump-affiliated entities entitled to 75% of net revenue.

    The shift comes amid weakened regulatory oversight of the crypto sector under Trump’s administration.

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  • Bitcoin drops to $76k after Trump fails to rule out a recession

    Bitcoin drops to $76k after Trump fails to rule out a recession

    Bitcoin dips to $86k

    • Ether dropped 9%, XRP fell 2%, and Dogecoin lost over 8% in 24 hours
    • Investors react to Trump’s comments about a possible recession
    • The US stock market lost more than $1.7 trillion in value

    Crypto prices have fallen across the board, with Bitcoin dropping below $77,000 as investors continued to react to US President Donald Trump’s tariff policies and the Bitcoin reserve plan.

    Bitcoin’s price at $76,000. Source: CoinMarketCap

    In the early hours of Tuesday, March 11, Bitcoin fell to $76,000, a figure not seen since last September. In a post on X, crypto trader Ali said:

    “If #Bitcoin $BTC holds $80,000, the bull case remains strong. Losing this level, however, could put $69,000 in play as the next key support!”

    Bitcoin has risen slightly and is back up around $81,600 at the time of publishing, according to CoinMarketCap. Ether, on the other hand, was down over 9% in 24 hours to $1,920, XRP had fallen more than 2%, at $2.13, and Dogecoin was down over 8.81% to $0.1607.

    The market reacts

    News of the continued market sell-off comes as investors react to Trump’s trade tariffs, the announcement of the US Strategic Bitcoin Reserve, and the possibility of a recession.

    Following Trump’s remarks, the US stock market lost more than $1.7 trillion in value yesterday. Elon Musk’s Tesla saw its shares drop by at least 15% to $222, losing over half its value from its December peak at $479.86. In a post on X, Musk said: “it will be fine long-term.”

    Market conditions haven’t been helped by Trump’s trade tariffs on Canada, China, and Mexico. Last month, it was confirmed that Trump was imposing a 25% trade tariff on Canada and Mexico; however, this has been delayed until April 2. China had a 20% tariff levied against it.

    BitMEX co-founder Arthur Hayes took to X to ask people to be “patient.”

    “$BTC likely bottoms around $70k. 36% correction from $110k ATH, v normal for a bull market,” adding:

    “Traders will try to buy the dip, if you are more risk averse wait for the central banks to ease then deploy more capital. You might not catch the bottom but you also won’t have to mentally suffer through a long period of sideways and potential unrealised losses.”

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  • Bitcoin drops below $90k as Trump confirms trade tariffs

    Bitcoin drops below $90k as Trump confirms trade tariffs

    Dogecoin and other major altcoins dip

    • This is the lowest Bitcoin has dropped since November 2024
    • Trump’s trade tariffs are likely impacting crypto market prices as investors look elsewhere to trade
    • Two crypto hacks days apart have worsened investor sentiment

    Bitcoin’s price has dropped below the $90,000 mark, signalling the lowest decline for the number one crypto asset since November 2024.

    Bitcoin’s price at $87,000. Source: CoinMarketCap

    On February 25 at 10:25 UTC, Bitcoin was trading at around $87,190, according to data from CoinMarketCap. At the time of publishing, it has risen slightly but remains under $90,000, a key figure to stay in bullish territory.

    According to Arthur Hayes, BitMEX’s co-founder, Bitcoin could drop to $70,000 if large hedge funds sell their positions in Bitcoin exchange-traded funds (ETFs).

    Impact of Trump’s tariffs

    The drop in value comes amid uncertainty about inflation, US President Donald Trump’s policies, and geopolitical events.

    Yesterday, Trump confirmed 25% trade tariffs on Canada and Mexico, causing the market to react as investors look to other avenues to put their money.

    According to James Toledano, COO at Unity Wallet, many believed that Bitcoin’s price would continue rising once Trump entered the White House, adding to CoinJournal:

    “But the reality is that the price has gone south, likely due to tariff trade wars, fragile peace talks in Eastern Europe, and fears around DeepSeek’s impact on the US tech sector. But this could also just be a momentary lapse of pricing reason.”

    Security breach at Bybit

    Last week, Hong Kong-based crypto exchange Bybit was the target of a major hack, resulting in the loss of nearly $1.5 billion worth of Ethereum from a single wallet.

    Despite Ben Zhou, Bybit’s founder and CEO, saying it had “fully closed the ETH gap,” raising funds to cover the losses and boost investor confidence, the fact remains that investors are shaken.

    Not only that, but neobank Infini suffered a $50 million hack yesterday. According to reports, insider access enabled the hacker to manipulate the platform’s smart contract it had developed after retaining administrative privileges unbeknownst to Infini.

    Following the theft, the hacker converted the stolen USDC into Dai and then purchased 17,696 Ethereum, valued at around $49 million at the time.

    “Additionally, global macroeconomic uncertainty and a downturn in traditional markets have weighed on Bitcoin, as risk assets remain highly sensitive to external pressures,” said Toledano.

    “Note, the S&P 500 which is the bellwether for the equities market is down over 4% over the last month and over 2% this past week alone. While 2 and 4 percentage points mean little in the cryptosphere, these figures are notable in TradFi from a loss perspective.”

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  • Sam Bankman-Fried’s parents are seeking a presidential pardon from Trump

    Sam Bankman-Fried’s parents are seeking a presidential pardon from Trump

    US federal judge dismisses $100M class action suit against Atomic Wallet
    • Joseph Bankman and Barbara Fried have met with lawyers and members of president Donald Trump’s administration
    • Trump has already pardoned Silk Road creator Ross Ulbricht who served 12 years in prison
    • Early Bitcoin investor Roger Ver, who faces a 109-year prison sentence, has also asked Trump to help him

    The parents of former FTX CEO Sam Bankman-Fried are seeking to get their son a presidential pardon from Donald Trump.

    Stanford law professors Joseph Bankman and Barbara Fried have reportedly met with lawyers and members of Trump’s administration. According to Bloomberg, the pair hopes to receive clemency for their son, who is serving a 25-year prison sentence.

    Bankman-Fried was sentenced last March after being found guilt of fraud. The platform filed for bankruptcy in 2022.

    Pardoning Ulbricht

    The move comes as Trump gave a presidential pardon to Silk Road creator Ross Ulbricht in the first week of entering the White House.

    During his presidential campaign, Trump promised that he would release Ulbricht – who served 12 years in prison – if he was re-elected as president.

    According to the report, Bankman-Fried previously called his sentence “draconian” despite FTX customers having recovered most of their money. In December, it was reported that the crypto exchange would begin repaying customers in early January.

    Gary Wang, FTX co-founder, avoided a prison sentence in November with judge Lewis Kaplan sentencing him to time served. Nishad Singh, an ex-FTX executive, also avoided a prison sentence.

    However, Caroline Ellison, the former CEO of Alameda Research – the sister company to FTX – received a 24-month prison sentence in September.

    Last Sunday, early Bitcoin investor Roger Ver posted a video message on X calling on Trump to help him avoid a prison sentence of up to 109 years. In his message, Ver wrote: “Mr. President, I am an American, and I need your help. Only you, with your commitment to justice, can save me @realDonaldTrump.”

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