Author: Benjamin Lee
The stablecoin issuer Tether has hired a new chief financial officer (CFO) and committed to completing a full audit. The veteran finance executive Simon McWilliams will now serve as CFO for Tether, which issues the dollar-pegged USDT, the top stablecoin by market cap. McWilliams will lead the stablecoin issuer toward a full audit and “spearhead Tether’s further commitment to transparency and regulatory readiness,” according to a press release from the firm. Tether didn’t provide a timeline for the audit. The firm already releases quarterly attestation reports with the accounting giant BDO, but it says a full audit will “ensure greater…
Coinbase co-founder and CEO Brian Armstrong believes the US crypto strategic reserve recently announced by President Donald Trump should exclusively consist of Bitcoin (BTC). On the social media platform X, Armstrong says having “just Bitcoin” in the US crypto strategic reserve “would probably be the best option.” According to the Coinbase CEO, Bitcoin comes with the “simplest and [clearest] story as successor to gold” relative to other crypto assets. “If folks wanted more variety, you could do a market-cap-weighted index of crypto assets to keep it unbiased.” On Sunday, President Trump confirmed that the US will set up a “crypto…
The crypto market is witnessing a fresh cascade of liquidations as President Trump’s tariff threats become reality. Trump has officially implemented 25% tariffs against both Canada and Mexico, triggering a 500 point drop in the Dow, alongside small drops in the Nasdaq and S&P 500. In the crypto market, liquidations crossed more than $1 billion in just 24 hours, with about 68% of the liquidations hitting traders going long, according to the crypto data aggregator CoinGlass. Bitcoin’s volatile swings continue, with BTC touching $81,879 before rising to $86,400 at time of publishing. The majority of liquidations hit BTC, followed by…
A crypto strategist known for making timely Bitcoin calls believes that a deeper drawdown is now on the table for BTC. Pseudonymous analyst Credible tells his 464,800 followers on the social media platform X that he now expects Bitcoin to go below its recent low of $78,000 after failing to reclaim $90,000 as support. While the trader is short-term bearish on BTC, he says that the pullback will be a golden opportunity for long-term investors. “At the moment, it’s looking like we may get a full retracement on BTC which should result in similar pullbacks across the board and some…
A widely followed crypto trader is turning bullish on a handful of altcoins as digital assets attempt to find a bottom. The pseudonymous trader and analyst known as Altcoin Sherpa says he’s bullish on KAITO, an artificial intelligence (AI)-powered Web3 information platform. He tells his 243,000 followers on the social media platform X that he’s looking to see KAITO rally above the $2.50 level, about 20% higher than current prices. “KAITO just longed around this area, targeting $2.50 and higher. will take profits along the way, hope BTC is stable.” Source: Altcoin Sherpa/X At time of writing, KAITO is worth…
Crypto asset management giant CoinShares says institutional whales pulled billions of dollars out of crypto investment vehicles last week. According to CoinShares’ latest Digital Asset Fund Flows Weekly Report, institutional crypto investment products suffered $2.9 billion in outflows last week. “Digital asset investment products saw a 3rd consecutive week of outflows, marking the largest weekly outflows on record at a total of US$2.9bn, bringing the three-week total to US$3.8bn. We believe several factors contributed to this trend, including the recent Bybit hack, a more hawkish Federal Reserve, and the preceding 19-week inflow streak totaling US$29bn. These elements likely led to a…
A closely followed economist believes that strong rallies are ahead for Bitcoin (BTC) and crypto as he thinks conditions are ripe for policymakers to turn the money printers back on. Citing data from the Atlanta Federal Reserve, Henrik Zeberg tells his 175,200 followers on the social media platform X that the US GDP is projected to contract by 1.5% in Q1 of 2025. According to Zeberg, the contraction may force Fed Chair Jerome Powell to abruptly pivot and start printing US dollars to shore up the economy. “But…. the economy is strong, right Powell…? The economy is not strong –…
Macro guru and Real Vision chief executive Raoul Pal says it is within the realm of possibility for crypto to witness an extended bull run this cycle. In a new video update, the ex-Goldman Sachs executive tells his 211,000 YouTube subscribers that the second phase of the “Banana Zone” – a term coined by him to refer to a period of rapid and explosive growth for the price of digital assets – will expand into 2026. “But [by] the back end of March, we should start to see price accelerate and then [in] April, May [and] June we should see…
Bitcoin and the crypto market at large are surging as President Trump announces that the US will establish a “crypto strategic reserve.” On Truth Social, Trump says the reserve will include Bitcoin (BTC), Ethereum (ETH), XRP (XRP), Solana (SOL) and Cardano (ADA). This announcement triggered a $100 billion surge in the global crypto market, with XRP soaring 37%, SOL 24%, and ADA over 70%, while BTC and ETH rose by 10% and 13%, respectively. Trump framed the reserve as a response to what he called “corrupt attacks” on the crypto industry by the Biden administration, emphasizing his goal to make…
An under-the-radar altcoin defied the wider crypto market slump and surged in price this week amid a new strategic investment. Vana (VANA) is a layer-1 network for user-owned data. The project aims to allow users to contribute, tokenize, and share their data to create next-generation artificial intelligence (AI)-focused applications. The project’s native asset, VANA, launched in December and is trading at $8.88 at time of writing. The 228th-ranked crypto asset by market cap is up nearly 3% in the past day and more than 37% in the past week. VANA’s gains largely materialized after YZi Labs, formerly known as Binance…