Casey

Casey

I’m a Crypto author and Blockchain enthusiast. I have been writing about Bitcoin, Ethereum, and other Cryptocurrencies for over 5 years. My work has been featured in major publications such as Forbes, CoinDesk, and VentureBeat. I’m also a regular speaker at Blockchain conferences around the world.

Donald Trump’s Meme Coin Launch Sparks Frenzy in Crypto Markets

As Donald Trump gears up to assume office as the 47th President of the United States, he has unveiled his own cryptocurrency, aptly named $Trump. The launch, which took the crypto world by storm, saw the meme coin’s value skyrocket shortly after its release, with a market capitalization reaching $5.5 billion just hours later, according to CoinMarketCap. A New Venture from the Trump Organization The coin is a product of CIC Digital LLC, an affiliate of the Trump Organization, in collaboration with Fight Fight Fight LLC. Both entities own 80% of the token supply, with 200 million tokens initially released and another 800 million planned over the next three years. While the venture has gained significant attention, the potential financial gains for Trump remain unclear. Trump announced the launch on his Truth Social platform, writing, “My NEW Official Trump Meme is HERE! It’s time to celebrate everything we stand for: WINNING!” According to the coin’s website, the $Trump token is designed to embody the ethos of resilience and leadership, but it comes with a disclaimer that it is “not intended as an investment opportunity or security.” A Mixed Reception Critics have raised concerns over the timing of the launch, just days before Trump’s inauguration, with some accusing the venture of exploiting his political prominence. Nick Tomaino, a crypto venture capitalist, remarked, “Trump owning 80 percent and timing the launch hours before inauguration is predatory, and many will likely get hurt by it.” Meme coins, known for their volatility and lack of intrinsic value, often attract speculative traders seeking short-term gains. These digital tokens have a history of rapid value surges followed by dramatic crashes, leaving latecomers at a loss. Crypto and the Trump Administration Trump’s relationship with cryptocurrency has evolved significantly. Once skeptical of the technology, he has since embraced it as part of his broader vision for America to become the “crypto capital of the planet.” His sons, Donald Jr. and Erik Trump, also launched their own crypto projects last year, further highlighting the family’s growing interest in digital assets. While critics question the ethics of the coin’s launch, supporters are hopeful that the Trump administration will usher in a more favorable regulatory environment for the crypto industry. Under the Biden administration, regulatory bodies cited concerns over fraud and money laundering, leading to lawsuits and crackdowns on major exchanges. As Trump prepares to take office, the crypto community is watching closely, with many speculating that his policies could significantly shape the future of digital assets. Whether $Trump will be a lasting phenomenon or a fleeting trend remains to be seen, but for now, it has undeniably captured the attention of the global crypto market.

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Crypto Exchange

A Comprehensive Guide to Choosing the Right Crypto Exchange for Your Needs

With approximately 1,500 cryptocurrency exchanges operating worldwide, choosing the right one can feel like searching for a needle in a haystack. To help simplify the decision-making process, here’s a detailed guide to the key factors you should consider when selecting a crypto exchange. 1. Security Comes First Crypto exchanges aren’t banks, but they hold vast amounts of assets, making them prime targets for hackers. Look for exchanges with robust security features, such as two-factor authentication (2FA), cold storage for funds, and regulatory compliance. Platforms like Binance and VALR stand out for their advanced security protocols, including encrypted data, user-level controls like wallet whitelisting, and stringent compliance measures. Choosing a secure platform ensures peace of mind while trading. 2. User-Friendly Interface An overly complex interface can discourage users, especially beginners. Look for exchanges that balance simplicity and functionality. Platforms like StormGain and KuCoin excel in offering intuitive dashboards while providing access to advanced features for experienced traders. 3. Supported Tokens If you plan to trade beyond major cryptocurrencies like Bitcoin and Ethereum, opt for exchanges with diverse token offerings. MEXC, for instance, boasts over 2,900 token listings, making it a top choice for exploring lesser-known altcoins. Ensure your chosen exchange also supports stablecoins like USDT and USDC for added trading convenience. 4. Transaction Fees Fees can significantly impact your profits, especially for active traders. Compare transaction, withdrawal, and deposit fees across platforms. VALR, for example, offers competitive fees, including free crypto deposits and a 0% maker fee on most trades. Similarly, Kraken and Bybit are excellent options for low-cost trading. 5. Payment Methods The availability of multiple payment methods is crucial for convenience. Whether you prefer wire transfers, credit cards, or digital payment systems like PayPal, choose an exchange that aligns with your preferences. Local exchanges often support regional fiat currencies, such as VALR in South Africa or WazirX in India. 6. Liquidity and Volume High liquidity ensures smoother transactions with minimal price slippage, especially for larger trades. Platforms like Binance, Coinbase, and Kraken lead the pack in daily trading volumes, offering deep liquidity for a wide range of tokens. 7. Customer Support When things go wrong, responsive customer support can make all the difference. Look for exchanges offering 24/7 live chat, phone support, or robust help centers. Coinbase is widely regarded for its excellent customer service, including phone support and detailed guides for troubleshooting. 8. Advanced Trading Features For seasoned traders, features like margin trading, futures, and staking can enhance the trading experience. Exchanges such as Binance, PrimeXBT, and VALR offer advanced options, including leverage trading and access to decentralized finance (DeFi) services for earning passive income. Final Thoughts: Balancing Your Priorities Selecting the right crypto exchange is a balancing act. Security should always be your top priority, but other factors like ease of use, token variety, and transaction costs will depend on your specific needs. Take the time to research and compare platforms to find the one that aligns with your trading goals. By focusing on what matters most to you—whether it’s low fees, advanced features, or strong security—you’ll set yourself up for a seamless trading experience in the ever-evolving world of digital assets.

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Bitcoin

Bitcoin Hits $104,000 Ahead of Trump’s Inauguration: What’s Next for Crypto?

As excitement builds for Donald Trump’s inauguration on Monday, Bitcoin (BTC) surged to an impressive $104,254 on Friday, marking a major milestone for the crypto market. This rally comes as traders and investors eagerly anticipate the incoming administration’s pro-crypto policies, which could reshape the financial landscape in the United States. A Crypto-Focused Presidency Reports suggest that President-elect Trump is planning to declare cryptocurrency a “national priority” through an executive order. The proposed directive, expected to be announced soon after the inauguration, may encourage U.S. government agencies to collaborate with the crypto industry and establish a national Bitcoin reserve. Additionally, Trump is reportedly considering forming a crypto advisory council to guide policymaking in the sector. This move is seen as a sharp pivot from the regulatory challenges faced under the previous administration, during which firms like Coinbase and Ripple Labs grappled with lawsuits from agencies like the Securities and Exchange Commission (SEC). The crypto community hopes that Trump’s presidency will foster a more supportive environment for innovation and investment. Market Sentiment Soars Bitcoin’s rally has pushed the overall cryptocurrency market capitalization to $3.78 trillion, with a 4% increase in the last 24 hours. The anticipation of Trump’s crypto-friendly policies has lifted market sentiment, with key players expressing optimism. Kara Calvert, vice president of U.S. policy at Coinbase, said, “What I think Donald Trump is going to do is signal that the United States is back and ready to lead in this industry.” Meanwhile, early Bitcoin investor Frank Chaparro added, “This shift in tone signals that banks will now feel more confident engaging with crypto, reversing years of restrictive guidance.” Concerns Over a Pump-and-Dump Scheme Despite the enthusiasm, some experts have raised concerns about potential market manipulation. Professors Jeffrey Funk and Gary Smith warn that the government’s potential move to create a Bitcoin stockpile could inadvertently fuel a pump-and-dump scenario. In such schemes, prices are artificially inflated before the assets are sold off, leaving late investors with losses. They argue that massive government purchases of Bitcoin could drive prices higher, creating a speculative bubble. What’s Next for Bitcoin? As of now, Bitcoin trades at $104,549, with open interest in BTC futures surpassing $69 billion. The coming days will be pivotal in determining the long-term impact of Trump’s policies on the crypto market. Whether this marks the beginning of a sustainable rally or a volatile pump-and-dump event remains to be seen. For now, the crypto world watches closely, with hopes pinned on a new era of innovation and growth under Trump’s administration.

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How the Trump Administration Could Reshape the Cryptocurrency Landscape

As Donald Trump prepares to reassume the U.S. presidency on January 20, the cryptocurrency world is buzzing with anticipation. Industry leaders and blockchain experts foresee significant changes to the regulatory and innovation landscape under his administration, with some predicting that crypto-related executive orders on Day One could even spark a Bitcoin rally. A Shift in Blockchain’s Role According to Vassilis Zikas, associate professor and blockchain consultant, blockchain technology stands apart from traditional financial systems by operating on decentralized ledgers rather than centralized ones. This setup boosts transparency and accountability but also raises privacy concerns. “Blockchain has the potential to revolutionize global financial transactions,” Zikas explains. Unlike traditional cross-border banking, which involves delays and fees, blockchain offers a seamless, borderless system. “Sending Bitcoin from the U.S. to the U.K. is as simple as a domestic transfer,” he adds. The Trump administration’s previous cautious support for regulating initial coin offerings (ICOs) and funding blockchain research contrasts sharply with the Biden administration’s stricter stance. Industry insiders blame this regulatory uncertainty for driving crypto businesses out of the U.S., contributing to a prolonged “crypto winter.” Building a Regulatory Foundation Agam Shah, a blockchain researcher, stresses the importance of clear and structured regulation to encourage institutional participation while protecting retail investors. “Unregulated practices like wash trading and high-profile failures such as FTX have eroded public trust,” Shah explains. He believes the Trump administration’s pro-crypto stance could help rebuild that trust by implementing comprehensive policies that foster innovation while minimizing risks. Shah also emphasizes the importance of leveraging advancements in blockchain technology to detect and prevent fraud, which could ensure greater market transparency and fairness. Challenges Ahead Despite optimism, Zikas and Shah caution against overestimating blockchain’s capabilities. Zikas warns that while blockchain can enhance privacy, it is not entirely immune to techniques that can reveal user identities. Similarly, Shah highlights the need to balance innovation with stability, especially given the volatility of the crypto market and upcoming regulatory challenges like the Basel III global capital standards, which take effect in 2025. The Road Ahead Both experts agree that clear and balanced policies will be key to positioning the U.S. as a leader in blockchain and cryptocurrency innovation. By addressing regulatory gaps and fostering technological advancements, Trump’s administration could transform the U.S. into a global crypto hub while ensuring the ecosystem remains secure and transparent. As the new administration lays the groundwork for a pro-crypto future, the coming months will be pivotal in determining the trajectory of digital assets and blockchain technology. The challenge lies in striking the right balance between regulation and innovation to harness blockchain’s potential while safeguarding its users. With the U.S. poised to take center stage in the global crypto economy, all eyes will be on Washington to see how this transformative journey unfolds.

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XRP

XRP on the Rise: Closing the Gap with Ethereum

XRP is making waves in the cryptocurrency world as it inches closer to challenging Ethereum’s dominance. On Wednesday, XRP hit an intraday high of $2.895 before settling at $2.87, marking a significant 12% increase in just 24 hours. The digital asset now commands 42.6% of Ethereum’s market capitalization, stirring discussions about its potential to overtake ETH. XRP’s Growing Market Presence With a market cap of $164 billion, XRP still trails Ethereum, which holds a valuation of $385 billion. However, the gap is steadily narrowing. To surpass Ethereum, XRP would need a substantial market cap increase of $221 billion, translating to a price of approximately $6.70 per coin. This would represent a 133.5% increase from its current value, assuming Ethereum’s price remains constant. Despite being 18% below its all-time high of $3.40, achieved in January 2017, XRP’s recent growth is reigniting speculation about its potential to reclaim a top spot in the crypto rankings. Historically, XRP held the title of the second-largest cryptocurrency in 2013 and briefly in 2014 before losing ground to Ethereum during the 2016–2017 bull run. Historical Significance and Future Prospects XRP’s journey is a testament to its resilience and the evolving dynamics of the cryptocurrency market. Once valued at less than a penny, XRP has grown into a major contender, captivating the attention of investors and analysts alike. While it faces a challenging path to dethrone Ethereum, its ongoing momentum suggests a more competitive landscape at the top. The Road Ahead XRP’s rise highlights its growing adoption and renewed investor confidence. However, surpassing Ethereum will require sustained growth and market support. As the crypto ecosystem continues to evolve, the battle for dominance between XRP and Ethereum is set to remain a focal point, driving intrigue and investment in the space. Stay tuned as XRP continues to redefine its place in the ever-competitive world of cryptocurrencies!

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Crypto wallet

Dfns Secures $16M Series A to Strengthen Crypto Wallet Infrastructure

Dfns, a leader in wallet-as-a-service solutions for cryptocurrency, has successfully closed a $16 million Series A funding round. The investment was spearheaded by Further Ventures, the venture arm of Abu Dhabi’s sovereign wealth fund ADQ. Notable contributors include White Star Capital, Hashed, Semantic, and Bpifrance, alongside new participants such as Motive Partners, Wintermute, and Motier Ventures. A Strategic Vision for Institutional Adoption Dfns’ decision to focus on institutional clients two years ago has paid off. Recognizing that institutional investors control the majority of global liquidity, Dfns tailored its services to meet their needs by emphasizing robust, bank-grade security and compatibility with traditional financial standards. The approach has positioned Dfns as a trusted infrastructure partner for institutions navigating the crypto space. “Institutions are the key to driving widespread crypto adoption,” said CEO Clarisse Hagège. “We’ve built our infrastructure to provide uncompromising security, helping trusted institutions adopt crypto with confidence.” With a reputation for transparency, reliability, and security, Dfns has garnered partnerships with high-profile clients, including Fidelity, Zodia Custody (Standard Chartered), and over 130 fintechs globally. The company’s offerings have been bolstered by regulatory licenses, insurance, independent audits, and certifications. Strategic Use of Funds This latest funding follows a $13 million seed round in 2022. Dfns plans to use the Series A capital to accelerate the distribution of its multichain wallet infrastructure, targeting markets in the EU, UK, UAE, and US. Key areas of focus include banks, payment services, trading platforms, tokenization projects, corporate treasuries, and fund administrators. Unlike many startups, Dfns is pursuing sustainable growth over rapid scaling. The company plans to expand its workforce modestly, from 25 to 35 employees, by year-end. The emphasis remains on delivering world-class infrastructure for fintech clients, offering smarter transaction management, seamless integrations, and superior user experiences. “Our mission is clear: provide the best-in-class crypto wallet infrastructure,” Hagège added. “We’ll continue to prioritize quality, security, and reliability as we scale.” Expanding the Future of Crypto With its sights set on reshaping the crypto landscape, Dfns is driving adoption by building trust among institutions. By combining innovation with a focus on long-term stability, the company aims to make crypto accessible and secure for global finance. As crypto evolves, Dfns is positioning itself as an essential pillar for the industry’s next phase of growth.

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Cryptocurrency

Cryptocurrency Set to Go Mainstream Under Trump, But Risks Remain for Investors

As Donald Trump prepares to take office as the 47th President of the United States, the cryptocurrency industry is abuzz with anticipation. With Bitcoin surpassing $100,000 in December 2024 for the first time in its history, expectations are high for a pro-crypto agenda that could position the U.S. as the “crypto capital of the planet.” However, while the industry braces for a favorable regulatory climate, the road ahead may not be as straightforward for investors. Promises of a Pro-Crypto Future Trump’s campaign promise to foster crypto innovation has already sparked optimism, with institutional players like BlackRock entering the crypto derivatives market. Such moves signal increased adoption, liquidity, and acceptance of digital assets. Many analysts predict Bitcoin could trade anywhere between $78,000 and $250,000 in 2025, driven by rising institutional interest and regulatory support. Moreover, Trump has hinted at initiatives like forming a crypto advisory council and creating a national Bitcoin reserve, fueling confidence in the market. His administration’s expected stance could mark a turning point for the U.S., attracting crypto entrepreneurs and companies back to a nation long plagued by regulatory uncertainty. Speculative Demand and Market Risks Despite these promising developments, crypto markets remain heavily speculative. Price surges in Bitcoin, Ethereum, and meme coins are often driven by short-term profit motives rather than the assets’ intrinsic value. Meme coins, in particular, gain traction from social media hype and celebrity endorsements, but lack the fundamental utility of other digital assets. Speculative bubbles, akin to the dot-com era, pose significant risks. Inflated valuations that exceed fundamental value can collapse, triggering market-wide instability. For example, the Terra Luna and FTX crashes in 2022 highlighted how interconnected the crypto sector and traditional financial systems have become. Such linkages amplify vulnerabilities, as seen in 2023 when Silicon Valley Bank’s bankruptcy caused ripple effects in the crypto space. The Role of Social Media and Celebrity Influence High-profile endorsements from figures like Elon Musk and Logan Paul have further complicated the crypto landscape. While these endorsements drive enthusiasm, they also raise concerns about transparency and manipulation. Pump-and-dump schemes, fueled by hype, often leave unsuspecting investors with significant losses. Calls for greater accountability in disclosing financial interests in crypto projects remain unheeded in many cases. Challenges to Decentralization and Transparency The ethos of cryptocurrency is rooted in decentralization and financial liberty. However, growing institutional involvement and strong political endorsements could undermine these principles. Easing regulations may invite innovation but could also reduce transparency and accountability, leaving retail investors vulnerable to exploitation. What Lies Ahead? While Trump’s administration may boost crypto adoption and prices, it also raises questions about consumer protection and market integrity. With the potential for increased manipulation and the absence of robust oversight, the dream of financial freedom could become elusive for many. As the crypto market marches toward mainstream acceptance, investors should remain cautious. In this evolving landscape, transparency, regulation, and due diligence are more critical than ever. For those venturing into the space, balancing optimism with prudence will be key to navigating the challenges and opportunities of 2025’s crypto economy.

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XRP

Dino Coins Make a Triumphant Comeback: XRP, XLM, and ADA Shine in Weekend Gains

This weekend, the cryptocurrency market spotlight is on “dino coins” — veteran digital assets that have been around since the early days of blockchain. Coins like XRP, Stellar (XLM), and Cardano (ADA) surged impressively, reminding everyone of their enduring relevance. XRP Leads the Charge XRP stole the show with an 8.9% jump, now trading at $2.56, up from $2.39 earlier in the day. While it’s still 24.7% below its all-time high (ATH) of $3.40 from January 2018, XRP has gained an impressive 327.2% in the past year, solidifying its position as a market favorite. Stellar (XLM) Soars Stellar joined the rally with a 7.7% increase in the past 24 hours, now valued at $0.449 per coin. XLM has seen a 266.6% surge over the last year, though it remains 48% shy of its ATH of $0.875 set in January 2018. Despite this, its steady growth highlights its potential. Cardano (ADA) Keeps the Momentum Cardano also posted significant gains, climbing 7.6% to $1.01. ADA has grown 75.3% over the past year, though it’s still down 67.7% from its ATH of $3.09, recorded in September 2021. Its steady rise underscores its consistent appeal among investors. Dogecoin Joins the Rally Even Dogecoin (DOGE), often humorously grouped with dino coins, saw a 4% rise, trading at $0.347. DOGE has grown 313% in the past year, with its ATH of $0.731 from May 2021 still out of reach but not forgotten by its passionate community. A Weekend of Resurgence The term “dino coins” may have started as a playful jab at these older digital assets, but their recent performance suggests they’re far from extinct. This weekend’s rally is a testament to their staying power, as they continue to deliver solid returns for their long-term holders. With the global cryptocurrency market cap at $3.34 trillion and the resurgence of these stalwart coins, it’s clear that “dino coins” are here to stay, roaring back to remind the crypto world of their legacy and potential.

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Blockchain

Can BRICS Challenge the U.S. Dollar? The Role of Blockchain in a New Economic Era

Over the years, the possibility of BRICS nations (Brazil, Russia, India, China, and South Africa) challenging the global dominance of the U.S. dollar has sparked heated debates. Once dismissed as a loose collection of economies with little influence, BRICS now commands 35% of global GDP and continues to grow. With the recent inclusion of Indonesia, this coalition is expanding its influence and reshaping global economic dynamics. No Need for a BRICS Digital Currency Yet At this year’s BRICS Summit in Kazan, Russia, the idea of launching a BRICS digital currency was floated but deemed “premature” by Russian President Vladimir Putin. Instead, the bloc committed to reducing reliance on the U.S. dollar by trading in national currencies. While a BRICS currency might become a reality in the future, China’s economic dominance within the group suggests it could leverage the Chinese Yuan (RMB) to challenge the U.S. dollar’s role as a global reserve currency. Unlike Japan’s experience with the 1985 Plaza Accord—when its yen appreciated significantly, hurting exports—China is in a stronger position. With a robust domestic consumption strategy and less dependence on U.S. exports, Beijing could lead a monetary shift within BRICS. This could involve recycling trade surpluses into Chinese assets, reducing the dollar’s dominance over trade representing 35% of global GDP. Blockchain: A Path to Global Free Trade and Peace While a direct challenge to the U.S. dollar may trigger economic turbulence, blockchain technology offers an alternative path—supercharged global free trade. Over the past few decades, globalization has fostered unprecedented prosperity, but growing geopolitical tensions threaten this progress. Blockchain could bridge this gap, enabling secure, efficient, and transparent cross-border transactions. Scalable blockchains like BSV, capable of handling millions of transactions per second, can revolutionize international trade. They offer solutions for payment systems, supply chains, dispute resolution, and regulatory compliance. By making trade trustless and cost-effective, blockchain can help nations trade more freely, fostering economic growth and reducing friction. A Call for Cooperation For blockchain to reach its full potential, political leaders must prioritize cooperation over rivalry. Mutual prosperity benefits everyone, and the use of blockchain in trade and finance could expand global wealth. By embracing scalable, regulation-compliant blockchains capable of asset tokenization, countries can modernize international commerce and reduce economic inequalities. The world faces a choice: continue the fight for dominance or collaborate for shared prosperity. Blockchain technology holds the key to creating a more interconnected and equitable economic system. Whether global leaders embrace this opportunity remains to be seen, but the potential for a brighter, more cooperative future is within reach.

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Bitcoin Dropdown

Bitcoin Dips Below $94,000 Amid ETF Outflows and Weak Buying Pressure

Bitcoin (BTC) has experienced a downward trend this week, trading below the $94,000 mark as of Thursday. This represents a drop of over 5% for the week, as spot Bitcoin Exchange Traded Funds (ETFs) in the U.S. recorded outflows exceeding $568 million on Wednesday, signaling a waning demand for the leading cryptocurrency. According to data from CryptoQuant, the declining inflow of stablecoins into exchanges has reduced buying pressure, further indicating potential downward movement for Bitcoin’s price in the short term. Altcoins Show Weakness: TRX and TON Struggle Altcoins Tron (TRX) and Toncoin (TON) have also faced significant price declines, each falling by more than 6% this week. Both cryptocurrencies struggled to break through key resistance levels, which analysts believe could pave the way for additional losses in the near future. Technical indicators, including momentum metrics, align with this bearish outlook, suggesting that further declines may be on the horizon for these assets. Portugal’s BiG Bank Blocks Crypto Transfers Amid EU Regulatory Pressure In regulatory news, Banco de Investimentos Globais (BiG), one of Portugal’s prominent banks, has halted fiat transfers to cryptocurrency platforms. The decision is attributed to compliance with increasingly stringent European Union rules, reflecting a shift in Portugal’s stance on cryptocurrencies. Once considered a haven for crypto enthusiasts, Portugal now appears to be tightening its regulatory framework. This move aligns with guidance from the European Central Bank, the European Banking Authority, and the Bank of Portugal, particularly regarding anti-money laundering (AML) and counter-terrorism financing (CTF) policies. BiG’s decision has sparked debates within the crypto community about the future of cryptocurrency-friendly policies in the nation and the broader implications for the EU’s regulatory landscape. Market Sentiment With Bitcoin’s price under pressure and key altcoins showing weakness, the market’s sentiment remains cautious. Coupled with stricter regulatory moves in Europe, crypto investors may face heightened challenges in navigating this evolving environment.

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Bitcoin Slumps to $94K Amid Fed Signals and DOJ Coin Sales

Bitcoin’s price took a sharp dip on Thursday, falling to $94,471 as a wave of bearish sentiment swept through the cryptocurrency market. The decline comes amid hawkish signals from the U.S. Federal Reserve and the looming prospect of large-scale Bitcoin sales by the Department of Justice (DOJ). A Slower Rate Cut Path Spooks Markets The Federal Reserve’s December meeting minutes, released earlier this week, signaled a slower pace of interest rate cuts in 2025, dampening investor risk appetite. The central bank cited resilience in the U.S. economy and persistent inflation concerns, warning that protectionist policies under the incoming Trump administration could keep rates higher for longer. These factors have weighed heavily on speculative assets like cryptocurrencies. DOJ Bitcoin Sales Add Pressure Bitcoin faced additional selling pressure after reports revealed that the DOJ had secured court approval to sell over 69,370 BTC, worth approximately $6.5 billion. The coins were confiscated in 2014 following the Silk Road marketplace crackdown. Historically, similar government sales have led to price dips, and the anticipation of such a move has added to the bearish tone. Despite previous speculation that the DOJ might convert its Bitcoin holdings into a national strategic reserve under President-elect Donald Trump, the sale appears to be moving forward. Market Impact Bitcoin’s price fell as low as $93,323 during Thursday’s trading session, erasing most of the gains from its early 2025 rally. Broader crypto markets also showed weakness, with altcoins following Bitcoin’s downward trajectory. Ether stabilized at $3,328 after earlier losses, while XRP managed a 2.2% gain, trading at $2.34. Meme coin Dogecoin saw a 3.1% drop, and Solana, Cardano, and Polygon posted declines of up to 6%. Broader Outlook With uncertainty surrounding the Fed’s rate policy and the DOJ’s Bitcoin sales, the market may face continued headwinds in the near term. While Trump’s plans to create a national Bitcoin reserve have sparked optimism among some crypto enthusiasts, the timeline and feasibility of such an initiative remain unclear. Investors and traders will be closely monitoring these developments, as well as upcoming market trends, to gauge the trajectory of Bitcoin and the broader cryptocurrency market.

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Thai Authorities Bust Bitcoin Mining Operation Over Massive Electricity Theft

Thai officials have dismantled a large-scale Bitcoin mining farm accused of stealing electricity worth hundreds of millions of baht. The raid, conducted by Thailand’s Provincial Electricity Authority (PEA) and the Crime Suppression Division (CSD), uncovered an illegal operation in Chonburi’s Phanat Nikhom district, seizing 996 Bitcoin mining rigs in the process. The investigation revealed that the operators had tampered with electricity meters to power the energy-intensive mining process without paying, resulting in significant financial losses for the Thai state electricity provider. The illicit setup was designed to operate discreetly, with theft occurring only at night while meters functioned normally during the day to avoid raising suspicions. Bitcoin mining, which involves solving complex mathematical problems to validate transactions and create new coins, is notoriously energy-intensive. The high operational costs, particularly for electricity, have led some operators to resort to illegal tactics to maximize profits. Authorities are working to identify those behind the operation, with the CSD seeking court approval for arrest warrants. While the individuals responsible remain at large, the PEA and law enforcement are determined to hold them accountable for the losses incurred. This case serves as a reminder of the ethical and legal challenges posed by the growing adoption of cryptocurrency and its associated activities.

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bitcoin
Bitcoin (BTC) $ 80,576.59
ethereum
Ethereum (ETH) $ 1,849.32
tether
Tether (USDT) $ 0.999788
xrp
XRP (XRP) $ 2.25
bnb
BNB (BNB) $ 577.20
solana
Solana (SOL) $ 122.43
usd-coin
USDC (USDC) $ 1.00
cardano
Cardano (ADA) $ 0.700439
dogecoin
Dogecoin (DOGE) $ 0.163681
tron
TRON (TRX) $ 0.223299
staked-ether
Lido Staked Ether (STETH) $ 1,847.14
lombard-staked-btc
Lombard Staked BTC (LBTC) $ 82,872.20
pi-network
Pi Network (PI) $ 1.65
wrapped-bitcoin
Wrapped Bitcoin (WBTC) $ 80,411.54
leo-token
LEO Token (LEO) $ 9.70
stellar
Stellar (XLM) $ 0.269497
usds
USDS (USDS) $ 0.999890
chainlink
Chainlink (LINK) $ 12.90
hedera-hashgraph
Hedera (HBAR) $ 0.185943
wrapped-steth
Wrapped stETH (WSTETH) $ 2,209.48
avalanche-2
Avalanche (AVAX) $ 18.30
shiba-inu
Shiba Inu (SHIB) $ 0.000012
sui
Sui (SUI) $ 2.14
the-open-network
Toncoin (TON) $ 2.73
litecoin
Litecoin (LTC) $ 86.50
bitcoin-cash
Bitcoin Cash (BCH) $ 327.59
mantra-dao
MANTRA (OM) $ 6.34
polkadot
Polkadot (DOT) $ 3.90
ethena-usde
Ethena USDe (USDE) $ 0.999865
binance-bridged-usdt-bnb-smart-chain
Binance Bridged USDT (BNB Smart Chain) (BSC-USD) $ 0.999021
weth
WETH (WETH) $ 1,847.54
bitget-token
Bitget Token (BGB) $ 4.14
hyperliquid
Hyperliquid (HYPE) $ 12.77
whitebit
WhiteBIT Coin (WBT) $ 28.09
monero
Monero (XMR) $ 205.47
wrapped-eeth
Wrapped eETH (WEETH) $ 1,959.96
susds
sUSDS (SUSDS) $ 1.04
uniswap
Uniswap (UNI) $ 5.80
dai
Dai (DAI) $ 0.999834
aptos
Aptos (APT) $ 5.03
near
NEAR Protocol (NEAR) $ 2.53
pepe
Pepe (PEPE) $ 0.000007
ethereum-classic
Ethereum Classic (ETC) $ 17.69
ondo-finance
Ondo (ONDO) $ 0.818279
internet-computer
Internet Computer (ICP) $ 5.35
aave
Aave (AAVE) $ 162.67
okb
OKB (OKB) $ 41.00
gatechain-token
Gate (GT) $ 20.11
mantle
Mantle (MNT) $ 0.723420
coinbase-wrapped-btc
Coinbase Wrapped BTC (CBBTC) $ 80,615.60
bitcoin
Bitcoin (BTC) $ 80,576.59
ethereum
Ethereum (ETH) $ 1,849.32
tether
Tether (USDT) $ 0.999788
xrp
XRP (XRP) $ 2.25
bnb
BNB (BNB) $ 577.20
solana
Solana (SOL) $ 122.43
usd-coin
USDC (USDC) $ 1.00
cardano
Cardano (ADA) $ 0.700439
dogecoin
Dogecoin (DOGE) $ 0.163681
tron
TRON (TRX) $ 0.223299
staked-ether
Lido Staked Ether (STETH) $ 1,847.14
lombard-staked-btc
Lombard Staked BTC (LBTC) $ 82,872.20
pi-network
Pi Network (PI) $ 1.65
wrapped-bitcoin
Wrapped Bitcoin (WBTC) $ 80,411.54
leo-token
LEO Token (LEO) $ 9.70
stellar
Stellar (XLM) $ 0.269497
usds
USDS (USDS) $ 0.999890
chainlink
Chainlink (LINK) $ 12.90
hedera-hashgraph
Hedera (HBAR) $ 0.185943
wrapped-steth
Wrapped stETH (WSTETH) $ 2,209.48
avalanche-2
Avalanche (AVAX) $ 18.30
shiba-inu
Shiba Inu (SHIB) $ 0.000012
sui
Sui (SUI) $ 2.14
the-open-network
Toncoin (TON) $ 2.73
litecoin
Litecoin (LTC) $ 86.50
bitcoin-cash
Bitcoin Cash (BCH) $ 327.59
mantra-dao
MANTRA (OM) $ 6.34
polkadot
Polkadot (DOT) $ 3.90
ethena-usde
Ethena USDe (USDE) $ 0.999865
binance-bridged-usdt-bnb-smart-chain
Binance Bridged USDT (BNB Smart Chain) (BSC-USD) $ 0.999021
weth
WETH (WETH) $ 1,847.54
bitget-token
Bitget Token (BGB) $ 4.14
hyperliquid
Hyperliquid (HYPE) $ 12.77
whitebit
WhiteBIT Coin (WBT) $ 28.09
monero
Monero (XMR) $ 205.47
wrapped-eeth
Wrapped eETH (WEETH) $ 1,959.96
susds
sUSDS (SUSDS) $ 1.04
uniswap
Uniswap (UNI) $ 5.80
dai
Dai (DAI) $ 0.999834
aptos
Aptos (APT) $ 5.03
near
NEAR Protocol (NEAR) $ 2.53
pepe
Pepe (PEPE) $ 0.000007
ethereum-classic
Ethereum Classic (ETC) $ 17.69
ondo-finance
Ondo (ONDO) $ 0.818279
internet-computer
Internet Computer (ICP) $ 5.35
aave
Aave (AAVE) $ 162.67
okb
OKB (OKB) $ 41.00
gatechain-token
Gate (GT) $ 20.11
mantle
Mantle (MNT) $ 0.723420
coinbase-wrapped-btc
Coinbase Wrapped BTC (CBBTC) $ 80,615.60