The Trump administration has endorsed a congressional resolution to repeal a controversial IRS rule that would impose strict reporting requirements on decentralized finance (DeFi) projects. David Sacks, the administration’s crypto policy chief, argued that the rule could stifle innovation and raise privacy concerns for DeFi users. The House Ways and Means Committee has advanced the measure for a full vote, with support from pro-crypto Republicans.
about Trump Administration Supports Bill to Repeal IRS Rules on DeFi ProjectsAndré Beganski
0 posts last weekStrategy’s Bitcoin Holdings and Financial Strategies Amid Market Pressures
Strategy, formerly MicroStrategy, has amassed approximately 499,096 Bitcoin valued at around $44.4 billion, backed by $8.2 billion in convertible debt. Despite recent market volatility and a 45% drop in share price, analysts deem a forced liquidation unlikely due to structural safeguards and co-founder Michael Saylor’s significant voting power. The company continues to navigate its financial obligations while maintaining a strong Bitcoin position.
about Strategy's Bitcoin Holdings and Financial Strategies Amid Market PressuresBitcoin and Crypto Stocks Fall Amid Economic Concerns and Major Hack
Cryptocurrency stocks plummeted amid a broader market downturn, with Robinhood and Coinbase shares falling 8% and 6.4%, respectively. Bitcoin dropped below $89,000, influenced by a $1.4 billion hack on Bybit and rising inflation concerns, while Bitdeer reported a $532 million loss, leading to a 20% stock decline. The market remains unsettled by potential global trade wars and the Federal Reserve’s cautious stance on interest rate cuts.
about Bitcoin and Crypto Stocks Fall Amid Economic Concerns and Major HackRaydium Token Falls Amid Speculation of Competing Automated Market Maker Launch
Raydium’s RAY token has dropped 22% to $3.28 amid speculation that Pump.fun is developing its own automated market-making system, potentially diverting trading volume from Raydium. This decline follows a test version of the AMM being discovered, raising concerns about future fee revenue for Raydium. Despite Pump.fun’s recent cooling activity, it remains a significant player in the meme coin space, processing millions in daily fees.
about Raydium Token Falls Amid Speculation of Competing Automated Market Maker LaunchGrayscale Launches Fund for Pyth Network Solana Token Amid Market Decline
Grayscale has launched a fund based on the Solana-based governance token of the Pyth Network, catering to both retail and institutional investors. This initiative aims to provide access to higher-beta opportunities linked to Solana’s growth, amidst a backdrop of declining prices for major cryptocurrencies like Bitcoin and Solana. Grayscale continues to expand its offerings, recently filing for a Cardano ETF and introducing a Dogecoin Trust.
about Grayscale Launches Fund for Pyth Network Solana Token Amid Market DeclineFBI Operation Level Up Saves Victims from Crypto Fraud Losses
The FBI’s Operation Level Up has successfully intervened to prevent over 4,300 victims from losing more than $285 million to cryptocurrency fraud, amidst a surge of monthly complaints. Scammers, often targeting tech-savvy individuals aged 30 to 60, employ sophisticated tactics to gain trust and lure victims into investing in fake opportunities. The FBI emphasizes the importance of vigilance and encourages potential victims to report fraud through the Internet Crime Complaint Center.
about FBI Operation Level Up Saves Victims from Crypto Fraud LossesBitcoin Faces Potential Drop Amid Economic Data and Market Shifts
Bitcoin is currently around $104,000 but analysts warn it could drop to $100,000 due to negative U.S. inflation and jobs data. Despite recent challenges, the medium- and long-term outlook for Bitcoin and Ethereum remains positive, bolstered by Federal Reserve signals favoring crypto banking and potential state-level Bitcoin reserves. Additionally, rising gold prices, influenced by political rhetoric, may further drive interest in Bitcoin as a reserve asset.
about Bitcoin Faces Potential Drop Amid Economic Data and Market ShiftsErrol Musk Launches Meme Coin Amid Controversy Over Family Ties
Errol Musk is promoting a Solana-based meme coin called Musk It (MUSKIT), aiming to raise $150-$200 million for the Musk Institute, despite criticism of capitalizing on his son Elon Musk’s fame. The token has surged 280% following Errol’s endorsement, although its financial structure remains unclear. Elon Musk has no involvement in the project and has publicly criticized his father’s character, highlighting a strained relationship between them.
about Errol Musk Launches Meme Coin Amid Controversy Over Family TiesHome Miner Claims Bitcoin Jackpot with Help from Donated Hashrate
A solo miner using a $400 FutureBit machine reportedly mined a block and earned a reward of 3.125 Bitcoin, valued at nearly $330,000. However, this achievement was aided by donated hashrate from supporters, aimed at funding open-source projects through The 256 Foundation. While rare, such successes highlight the potential for independent miners in the Bitcoin network, despite the dominance of large mining operations.
about Home Miner Claims Bitcoin Jackpot with Help from Donated HashrateVitalik Buterin Addresses Ethereum’s Future and Layer Two Challenges
Vitalik Buterin has voiced concerns about the impact of layer-2 networks on Ethereum’s economy and price stability, urging developers to prioritize interoperability and security. He proposed that these networks could support ETH’s value by burning fees or staking them for community benefits. Meanwhile, MetaMask is expanding its reach beyond Ethereum, tapping into other ecosystems like Bitcoin and Solana.
about Vitalik Buterin Addresses Ethereum's Future and Layer Two ChallengesBitwise Registers Dogecoin ETF Entity as Crypto Interest Grows
Bitwise Asset Management has registered a Dogecoin ETF entity in Delaware, marking a preliminary step toward a potential launch. While this registration is significant, it does not constitute an official ETF filing with the SEC. Analysts suggest that the first Dogecoin ETF could debut as early as April, reflecting growing institutional interest in meme coins.
about Bitwise Registers Dogecoin ETF Entity as Crypto Interest GrowsRumble Makes First Bitcoin Purchase as Part of Investment Strategy
Rumble, the video platform rivaling YouTube, has made its first Bitcoin purchase, marking a significant step in its strategy to integrate cryptocurrency into its balance sheet. CEO Chris Pavlovski announced the acquisition, although the exact amount remains undisclosed; the company previously indicated plans to invest up to $20 million in Bitcoin. This move aligns Rumble with other firms like MicroStrategy, which has heavily invested in Bitcoin as a long-term asset.
about Rumble Makes First Bitcoin Purchase as Part of Investment Strategy