Greenlight Capital’s David Einhorn believes the current bull market has taken speculative behavior to absurd levels. “We’ve entered the ‘Fartcoin’ stage of the market cycle,” Einhorn wrote in an investor letter as reported by CNBC. “Beyond trading and speculation, it serves no meaningful purpose or satisfies any need not already addressed elsewhere.” MiloX Trading @CryptoMilox · Follow David Einhorn has declared we’ve hit the ‘Fartcoin’ phase of the market cycle. Is this a sign of market exhaustion or just a quirky commentary on crypto trends? Stay tuned for what’s next! #Crypto #Investing #MarketTrends 12:58 AM · Jan 22, 2025 1 Reply Copy link Read more on Twitter The term “Fartcoin” originates from a crypto token that gained immense popularity, coinciding with Donald Trump’s re-election. The meme coin now boasts a market valuation nearing $2 billion, surpassing the worth of many publicly listed U.S. companies. Since Fartcoin’s debut, other meme coins have emerged. Among them is $TRUMP, a token launched by President Donald Trump on the Solana blockchain. Over the weekend, $TRUMP’s market cap surged past $14 billion, despite experiencing volatile trading that saw losses of over 20%, later narrowing to around 3%. First Lady Melania Trump also introduced her cryptocurrency . The $MELANIA cryptocurrency appears to prioritize personal branding over financial gains. Its website underscores that the token is not designed as an investment vehicle or security, echoing a similar disclaimer made for $TRUMP. Melania Trump’s foray into crypto also underscores the Solana blockchain’s increasing appeal. Known for its scalability and low transaction costs, Solana has positioned itself as a go-to platform for innovators aiming to create unique digital assets. $MELANIA’s market valuation remains modest compared to the broader crypto space, raising questions about the long-term viability of such niche tokens. Einhorn said, Perhaps we’re transitioning from the Fartcoin phase to the Trump (and Melania) memecoin phase. What comes next is anyone’s guess, but it seems like the ride will only get wilder. Einhorn’s comments come as investor optimism about tax cuts and deregulation under the Trump administration drives equity markets higher. The Dow Jones Industrial Average rose more than 400 points the day after the inauguration, while the S&P 500 and Nasdaq Composite climbed 0.8% and 0.7%, respectively. Betting against crypto-linked ETFs Greenlight Capital capitalized on the crypto frenzy in the fourth quarter by shorting leveraged bitcoin ETFs. The firm targeted two funds: the T-Rex 2X Long MSTR Daily Target ETF (MSTU) and the Defiance Daily Target 2X Long MSTR ETF (MSTX). These funds aim to deliver double the daily returns of MicroStrategy, a software company heavily invested in Bitcoin. Einhorn explained that the funds struggled to meet their goals due to MicroStrategy’s volatility and the limited availability of derivatives needed for leveraged returns. Greenlight shorted these ETFs while simultaneously holding MicroStrategy stock as part of an arbitrage strategy, which Einhorn described as a “material winner” for the firm. The post Why David Einhorn believes 'we’ve entered the ‘Fartcoin’ stage of the market cycle' appeared first on Invezz

2025-01-21 22:09

The Trump administration took its first step on Tuesday towards reducing regulatory barriers for the cryptocurrency industry. In a move eagerly awaited by digital asset enthusiasts, the Securities and Exchange Commission (SEC) announced that Acting Chair Mark Uyeda has launched a “crypto task force” to create a clear and comprehensive regulatory framework for crypto assets.

2025-01-21 21:27

Bitcoin is expected to reach a new all-time high in 2025, fueled by positive regulatory developments in the US under President Donald Trump’s administration, Binance CEO Richard Teng said during an interview with CNBC on Tuesday. Teng, who succeeded Changpeng Zhao as Binance’s CEO last year, shared his optimism, highlighting expectations for “clearer regulation” under

2025-01-21 18:43

Solana (SOL), known for its high-speed blockchain operations, has experienced a rollercoaster of price movements, culminating in a notable drop from its all-time high (ATH) shortly after Donald Trump’s inauguration. To understand this phenomenon, one must consider the confluence of market dynamics, political influences, and the speculative nature of cryptocurrency investments. The New ATH and

2025-01-21 17:48

The altcoin space plummeted over the past day as Donald Trump failed to comment on cryptocurrency during the inauguration ceremony . While most assets endured significant declines, TRUMP (Official Trump), Dogecoin, and Ethena attracted attention due to separate post-inauguration events. Let us find out more. Official Trump plunges 50% The new meme token TRUMP led the downside as Donald Trump’s inauguration speech went against crypto enthusiasts’ expectations. The alt endured wild volatility, dipping from all-time peaks near $75 to below $40 before day-end. TRUMP trades at $38.03, down nearly 50% after its latest ATH. Chart by Coinmarketcap The daily chart signals bear dominance, with the substantial slump in 24H trading volume confirming faded trader interest in the meme token. The Solana-based token will likely dip further before possible bounce-backs. Nevertheless, some investors are capitalizing on the ongoing dips to join at discounted prices. TRUMP has seen significant buying activity from whale investors after its latest slide. lmk.fun 🦜 (Prev. Scopescan) @lmkfun · Follow Multiple whales are buying the $TRUMP dip!Two hours ago, one whale spent 7.06M $USDC to buy 207.87K $TRUMP at $34.Another whale spent 3.167M $USDC to buy 99.53K $TRUMP at $31.8.Track & Check Address:👇 lmk.fun/detail/1881605… 10:38 AM · Jan 21, 2025 24 Reply Copy link Read 1 reply Such trends indicate trust in the token’s future performance, confirming impending price rebounds. A buyer resurgence will see the altcoin targeting $54 in the upcoming sessions. However, robust investor interest amidst broad-based rallies remains essential for recoveries toward yesterday’s peaks above $74. Dogecoin dips as lawsuits shake D.O.G.E The meme trades at $0.3860, down over 1% in the past 24 hours. The original meme token crashed after multiple developments after the inauguration ceremony. Though indirectly linked, Dogecoin’s slide accelerated due to negative news about the new Department of Government Efficiency (D.O.G.E). Firstly, Vivek Ramaswamy burned bridges with Elon Musk by confirming his departure from the advisory organization . The former presidential aspirant clashed with Elon Musk as the Tesla CEO criticized his remarks about the transformed American employment culture. Moreover, the recent lawsuit against Elon Musk and D.O.G.E added to the concerns. Illinois girl Desi @d_ewinger · Follow DOGE gets sued minutes after Trump is sworn in. He’s politicians are really worried about their slush funds Watch on Twitter View replies 3:03 PM · Jan 21, 2025 0 Reply Copy link Read more on Twitter Various groups have sued the advisory organization for violating federal transparency policies. These developments have ruined sentiments within the Dogecoin community, with some investors reducing their exposure . Nevertheless, popular analyst Crypto Surf highlighted that DOGE has repeatedly tested the $0.618 FIB resistance since November last year. Despite multiple failed attempts to overcome the resistance, the analysts believes the meme token is on a breakout verge. Surf @_CryptoSurf · Follow Fibs don’t lie. $DOGE 2:00 PM · Jan 17, 2025 527 Reply Copy link Read 19 replies Ethena ready for an early rebound ENA trades at $0.90, displaying brief gains on its daily chart. Optimism from World Liberty Financial’s strategic purchases failed to trigger significant recoveries. The technical setup supports potential bounce-backs for ENA. The altcoin corrected to the 0.618 FIB level (a significant support barrier during bullish reversals) with its latest dip. Meanwhile, the crucial foothold coincides with an ascending channel’s lower boundary, forming a Launchpad for upside actions. Rose Premium Signals forecasts immediate surges to $1.6373 before extended surges to $2.6178. Rose Premium Signals 🌹 @VipRoseTr · Follow 💰 $ENA /USDT $ENA is showing bullish potential as it bounces from a strong Fibonacci 0.618 retracement zone within an ascending channel 🧐. This structure sets the stage for a significant rally 🚀.Targets:🎯 Mid-Term Target 1: $1.6373🎯 Mid-Term Target 2: $2.1521🎯… 8:05 PM · Jan 19, 2025 55 Reply Copy link Read 8 replies That would mean a 65% total gain from the current price. Altcoins’ performance during and after the US inauguration shows how sensitive digital assets are to political developments. Nevertheless, analysts forecast bullish trends in the upcoming months. Bitcoin gained over 300% in 2017 after Donald Trump became the United States president. Experts believe BTC could replicate the performance in the next three months . Such a performance will drive BTC to historic highs of $400K, triggering explosive upsurges in the altcoin space. The post Why TRUMP, DOGE, and ENA altcoins are losing steam after US inauguration appeared first on Invezz

2025-01-21 17:45

Bank of America Corp (NYSE: BAC) chief executive Brian Moynihan says the Wall Street banks are all geared up to embrace cryptocurrencies – all they need is a push from the US regulatory authorities. His comment follows the inauguration of Donald Trump who’s been rather vocal in favour of the crypto industry. In fact, the Republican leader’s presidential campaign vowed to make America the crypto capital of the world. “If the rules come in and make it a real thing that you can do business with, you’ll find that the banking system will come in hard on the transactional side of it,” CEO Moynihan said in an interview with CNBC today. Bank of America stock has rallied some 30% over the past six months. Trump did not mention crypto in his inaugural speech Following months of support for Bitcoin and the blockchain technology at large – President Trump went silent on crypto during his inaugural address on January 20 th . Investors were put off by no mention of cryptocurrencies in the speech, resulting in a sell-off in Bitcoin that was seen trading at a record of $109,000 just hours before Trump took office. Nonetheless, the US President’s recent moves suggest he remains fully committed to making America a crypto superpower as promised. Donald Trump has picked crypto advocate Paul Atkins to lead the Securities & Exchange Commission and former PayPal chief of operations David Sacks as the “crypto czar” of the White House. Appointing pro-crypto fintech veterans to key roles signals the new government has big plans for the crypto and blockchain industry. BofA disagrees with JPMorgan on crypto BofA chief executive Brian Moynihan’s view on crypto is starkly different from his peer Jamie Dimon who currently heads the largest US bank – JPMorgan Chase & Co. At one point, Dimon even called Bitcoin a currency for fraudsters and criminals. In contrast, “if you go down the street here and you go in and buy lunch, if you can pay with Visa, Mastercard, Apple Pay etc., this [crypto] would just be another form of payment,” Moynihan said as he spoke with CNBC at the World Economic Forum in Davos, Switzerland. Note that Bitcoin was currently going for about $103,000 at the time of writing. Should you buy Bank of America stock today? According to Brian Moynihan, the Bank of America knows “how to enter the field” and it even has “hundreds of patents on blockchain already.” Last week, the Wall Street bank reported its financial results for the fourth quarter that topped Street estimates on the back of strength in its investment banking unit. Wall Street currently sees a more than 10% upside in Bank of America stock to $52.43 on average. Shares of the multinational pay a healthy dividend yield of 2.23% as well which makes them all the more attractive for income investors. The post Trump supports crypto, but will Wall Street banks embrace it? appeared first on Invezz

2025-01-21 17:44

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2025-01-21 15:44

World Liberty Financial (WLFI), a decentralised finance (DeFi) project linked to Donald Trump, made headlines with its $112.8 million cryptocurrency acquisition on the day Donald Trump assumed office as the 47th President of the United States. While the timing and magnitude of this move raised eyebrows, it also highlighted WLFI’s strategy to solidify its presence in the digital asset market. The acquisition, which included Ether, Wrapped Bitcoin, and other tokens, signals WLFI’s ambition to leverage crypto as a cornerstone of its financial model amidst shifting global financial dynamics. What did WLFI buy? World Liberty Financial’s cryptocurrency purchase is notable not only for its scale but for its timing. The project acquired $47 million worth of Ether and an equivalent amount of Wrapped Bitcoin, alongside $4.7 million each in Aave, LINK, TRX, and ENA. WLFI @worldlibertyfi · Follow To commemorate the inauguration of Donald J. Trump as the 47th President of the United States, $WLFI is proud to announce the following strategic purchases today:$47,000,000 ETH$47,000,000 wBTC$4,700,000 Aave$4,700,000 LINK$4,700,000 TRX$4,700,000 ENAExcited for the… 3:12 am · 21 Jan 2025 2.3K Reply Copy link Read 399 replies This move diversifies WLFI’s treasury holdings, which now include over 57,115 Ether valued at $185.14 million and 456.7 Wrapped Bitcoin worth $46.5 million, according to Arkham Intelligence . The decision to expand its crypto portfolio aligns with WLFI’s broader financial strategy. By investing in high-liquidity assets like Ether and Bitcoin, alongside niche tokens, WLFI is positioning itself as a significant player in the DeFi landscape. This diversification also serves as a hedge against market volatility, offering stability to its $300 million treasury, which has been bolstered by successful token sales. Token sales driving financial momentum Since October 2024, WLFI has sold 20% of its token supply, raising $300 million through pre-sales. A new tranche of tokens, representing an additional 5% of the supply, was made available immediately after Trump’s inauguration. These token sales highlight the increasing appetite for decentralised financial projects, particularly those associated with high-profile figures like Trump. A significant endorsement came from Tron DAO, led by founder Justin Sun, which increased its investment in WLFI to $75 million. Sun, who joined WLFI as an advisor in November, described the partnership as a “transformative step” for both projects. H.E. Justin Sun 🍌 @justinsuntron · Follow We @trondao are continuing to increase our investment in World Liberty Financial, with an additional $45 million, bringing the total investment to $75 million. @worldlibertyfi @EricTrump @DonaldJTrumpJr @realDonaldTrump 8:09 am · 20 Jan 2025 1.5K Reply Copy link Read 199 replies Tron DAO’s financial backing and integration into WLFI’s ecosystem enhance the latter’s credibility, drawing attention from both institutional and retail investors. The implications for DeFi and politics World Liberty Financial’s crypto acquisition sheds light on the intersection of politics and decentralised finance. The timing of the investment—on Trump’s first day in office—raises questions about how the project plans to navigate regulatory challenges under a Trump administration. While WLFI positions itself as an independent financial ecosystem, its association with the Trump family makes it a potential bellwether for policy shifts favouring crypto. The post Trump-backed World Liberty Financial buys $112.8M worth of crypto on Jan 20 appeared first on Invezz

2025-01-21 11:06