Cryptocurrency exchange Kraken is preparing for an initial public offering (IPO) as early as the first quarter of 2026, taking advantage of what appears to be a more favorable regulatory climate under President Donald Trump. Kraken’s IPO plans are not yet final and could change in the coming months, Bloomberg reported , citing sources familiar with the matter, who requested anonymity due to the private nature of the discussions. Kraken reportedly said it remains committed to transparency, citing its history as one of the first exchanges to publish proof-of-reserves. “We recently disclosed 2024 financial highlights to be more transparent about our business… We’ll pursue public markets as it makes sense for our clients, our partners, and shareholders,” the company stated. Kraken’s IPO Plans Stalled by Biden-Era Regulatory Hurdles Kraken has long considered going public, but regulatory challenges under the Biden administration stalled its ambitions. The exchange faced enforcement actions from the U.S. Securities and Exchange Commission (SEC), settling one case while successfully fighting another, which was later dropped without charges or penalties. The shift in political leadership has brought renewed optimism for the crypto industry. Unlike his predecessor, Trump has been vocal in his support for digital assets. He is set to meet with over two dozen industry leaders, including Kraken Co-CEO Arjun Sethi, at the White House on Friday. Kraken has seen significant growth in recent years. The company reported revenue of $1.5 billion in 2024, more than doubling from the previous year, with adjusted earnings of $380 million. Bloomberg: Crypto exchange Kraken said to seek IPO as soon as Q1 next year Kraken IPO inkocoming baby! That will give them so much marketing and funding to invest in Ink! pic.twitter.com/yUAu2VLPEB — Ink Wizard (@0xInkWizard) March 8, 2025 While it still lags behind Coinbase, the largest U.S. exchange, which posted $6.6 billion in revenue last year, Kraken remains a key player in the sector. Ranked as the tenth-largest exchange by trading volume on CoinMarketCap, Kraken has been expanding its global presence and introducing new products. It is among several crypto firms exploring IPOs as market conditions improve. Others considering public listings include stablecoin issuer Circle, digital asset custodian BitGo, and exchanges such as Gemini and Bullish. Founded in 2011, Kraken has raised approximately $27 million in primary capital, making its potential IPO a significant milestone in its evolution. SEC Agrees in Principle to Drop Lawsuit Against Kraken As reported, the SEC has agreed in principle to dismiss its lawsuit against cryptocurrency exchange Kraken, according to a statement from the company. The case will be dropped with prejudice, meaning it cannot be refiled. Kraken will not admit to any wrongdoing, pay penalties, or change its business operations. The SEC sued Kraken in November 2023 , alleging it operated as an unregistered securities exchange, broker, clearing agency, and dealer. The regulator also accused the company of commingling customer and corporate funds. Kraken contested the charges, leading a federal judge to rule the case had enough merit to proceed to trial. Meanwhile, the Australian Securities and Investments Commission (ASIC) has won a court case against Bit Trade, the operator of Kraken in Australia , for failing to comply with design and distribution obligations. The Federal Court ruled that Bit Trade had breached the Corporations Act by offering a margin trading product without a target market determination, violating regulatory requirements since October 2021. The post Crypto Exchange Kraken Mulls 2026 IPO: Bloomberg appeared first on Cryptonews .

2025-03-09 16:03

Economist Timothy Peterson has warned that a delay in interest rate cuts by the U.S. Federal Reserve in 2025 could lead to a broader market downturn, potentially dragging Bitcoin’s price back toward $70,000. In a March 8 post on X , Peterson suggested that the lack of rate cuts could serve as a trigger for market weakness. “What it needs is a trigger. I think that trigger may be as simple as the Fed not cutting rates at all this year,” he wrote. Powell Signals No Rush for Rate Cuts, Keeping Markets on Edge His comments follow Federal Reserve Chair Jerome Powell’s statement on March 7, where Powell reiterated that the central bank is in no rush to lower interest rates. “We do not need to be in a hurry and are well-positioned to wait for greater clarity,” Powell said during a speech in New York. Peterson, known for his work on Bitcoin’s valuation using Metcalfe’s Law, has analyzed potential market declines by estimating how low the Nasdaq might fall in a bear market. His model suggests that the Nasdaq could drop by 17% over approximately seven months before stabilizing. Bear Market Analysis 1/5 It's time to talk about the next bear market. There's no reason to think it couldn't happen now. The valuation justifies it. What it needs is a trigger. I think that trigger may be as simple as the Fed not cutting rates at all this year. Powell said… pic.twitter.com/qqtsRdG0b4 — Timothy Peterson (@nsquaredvalue) March 8, 2025 Applying a historical multiplier of 1.9 to Bitcoin’s movements relative to the Nasdaq, Peterson projected a 33% decline in Bitcoin’s price, bringing it down to $57,000 from its March 8 price of $86,199, according to CoinMarketCap data. However, he noted that Bitcoin might not fall that far, instead expecting a bottom in the low $70,000 range. He referenced 2022’s market conditions, where Bitcoin’s decline was less severe than many anticipated. “I remember in 2022 when everyone said the bottom would be $12K. It only went to $16K, 25% higher than expected,” Peterson said. Applying a similar margin of error, he estimated Bitcoin’s potential floor price at around $71,000. Bitcoin Surged Past $100K After Trump’s 2024 Election Victory Bitcoin last traded near $71,000 on Nov. 6, 2024, following Donald Trump’s election victory. Afterward, it surged past $100,000 by Dec. 5. Peterson’s outlook aligns with that of BitMEX co-founder Arthur Hayes, who predicted a correction in Bitcoin to between $70,000 and $75,000. Hayes believes a financial downturn could prompt renewed money printing, pushing Bitcoin’s price to $250,000 by the end of 2025. Meanwhile, in December 2024, crypto mining firm Blockware Solutions projected a “bear case” scenario where Bitcoin reaches $150,000 if the Fed reverses course on interest rate cuts. As reported, Bitcoin has long been hailed as a potential hedge against geopolitical and fiscal instability, often compared to gold as a store of value. However, despite its decentralized nature and limited supply, Bitcoin continues to trade like a risk asset, moving in tandem with equities rather than diverging as a safe haven, according to Garrison Yang, co-founder of Web3 development studio Mirai Labs. In a recent interview with Cryptonews.com , Yang argued that Bitcoin’s correlation with traditional financial markets remains strong, posing challenges to its hedge narrative. The post Economist Timothy Peterson Warns US Rate Cuts Delay Could Trigger Market Downturn appeared first on Cryptonews .

2025-03-09 15:57

David Sacks, the White House’s lead on crypto and AI policy, has pushed back against the idea of taxing cryptocurrency transactions to build the U.S. strategic Bitcoin reserve. During a recent appearance on the All In podcast , host Jason Calacanis suggested a 0.01% tax on every crypto transaction, with the levy applied in the asset being transferred, bought, or sold. Sacks Warns Crypto Tax Could Expand Beyond Initial Proposal Sacks was quick to reject the proposal, warning that such taxes often start small but expand over time. “That’s always how taxes start. They are described as being very modest,” Sacks said. “When the income tax started, it only applied to like a thousand Americans, and the legislators swore up and down that it would never be applied to middle-class people.” Expressing his concerns, Sacks added, “I don’t particularly like the idea of new taxes, even if it is promised that they won’t affect people very much. That sounds burdensome to me.” Crypto investors also reacted negatively to the idea, arguing that even minor transaction fees could stifle adoption. Critics pointed out that such a tax would apply even to transfers between wallets owned by the same person, making routine transactions more expensive. The recent White House Crypto Summit did not introduce any official tax policies, but the Trump administration has hinted at broader tax reforms. President Donald Trump has previously proposed eliminating the federal income tax and replacing it with tariffs on imported goods. He has argued that tariffs once fully funded the U.S. government in the 19th century, a period he described as an era of significant prosperity. Commerce Secretary Howard Lutnick has echoed this idea, suggesting that the Internal Revenue Service (IRS) could be replaced by an “External Revenue Service.” According to research from accounting automation firm Dancing Numbers, eliminating the federal income tax could save the average American taxpayer at least $134,809 over their lifetime, with potential savings reaching $325,561 if state income taxes were also repealed. Sen. Warren Questions Crypto Czar Sacks on Crypto Ethics As reported, Sen. Elizabeth Warren (D-Mass.) has raised ethical concerns regarding the administration’s approach to cryptocurrency regulation as the White House held its first Digital Assets Summit. In a letter addressed to David Sacks , Warren questioned potential conflicts of interest and the ethical implications of the government’s involvement in the blockchain industry. In the letter, she voiced concern regarding transparency and accountability in digital asset policymaking. Warren argued that as the federal government deepens its engagement with the blockchain sector, it inadvertently drives up valuations for existing cryptocurrency holders, raising concerns about conflicts of interest among officials shaping these policies. Her letter to Sacks demands clarity on whether he and his colleagues stand to benefit from the decisions they make. She also criticized moves by President Donald Trump’s administration, claiming they cast doubt on the ethical integrity of its crypto-related decision-making processes. The post White House Crypto Czar David Sacks Opposes Transaction Taxes for Filling US Bitcoin Reserve appeared first on Cryptonews .

2025-03-09 15:44

Pi Network’s (PI) recent decline comes despite overwhelming support in a community poll conducted by Binance, where 86% of nearly 295,000 participants voted in favor of listing PI on the exchange. This result signals strong community backing, but Binance has not made any official announcement regarding the token’s potential listing. The poll, held between February 17 and 27, allowed crypto enthusiasts to weigh in on whether PI should be listed on Binance’s trading platform. As of March 7, 2025, Binance's community poll on listing Pi Network shows 86% support from nearly 295,000 voters. However, no official listing decision has been made, and Pi Token's price has dropped 20% to $2.15 amid market declines. Stay tuned for Binance's final announcement. — Grok (@grok) March 7, 2025 While the vote indicates significant demand, Binance remains cautious, evaluating factors such as security, liquidity, and regulatory compliance before listing new assets. 295,000 participants took part in the poll. 86% supported PI’s listing on Binance. Binance has yet to confirm whether it will list PI. Following the poll’s results, PI’s price has dropped 22.5% in 24 hours, now trading around $1.41. PI Technical Outlook: Bearish Breakdown Signals More Downside Pi Network is showing signs of a continued downtrend after breaking below critical support at $1.43. This move confirms a symmetrical triangle breakdown, reinforcing a bearish outlook. Currently, PI is struggling to recover, trading at $1.41, with the 50-day EMA at $1.74 acting as a key resistance level. If buyers fail to reclaim this level, the next downside targets are $1.20 and $0.99. A Fibonacci retracement analysis highlights rejection at crucial levels: 0.236 Fibonacci ($1.78) was decisively broken, signaling further weakness. 0.382 Fibonacci ($1.99) now acts as strong resistance, preventing a rebound. Pi Network (PI) Breaks Key Support Price: $1.41 (-22.5%) Breakdown below $1.43 confirms bearish momentum 50 EMA ($1.74) now key resistance Resistance: $1.74 | $1.99 Support: $1.20 | $0.99 Will PI recover, or is more downside coming? #PiNetwork #Crypto pic.twitter.com/On9KeFtOjW — Arslan Ali (@forex_arslan) March 9, 2025 Momentum indicators also confirm the bearish sentiment: RSI remains below 40, indicating oversold conditions but weak buying support. MACD remains bearish, with the signal line confirming downward momentum. What’s Next for PI? Key Levels to Watch With the symmetrical triangle pattern violated, Pi Network is vulnerable to further downside unless it reclaims $1.74. Until then, sellers remain in control, increasing the likelihood of a move toward $1.20 or even $0.99. While Binance’s potential listing could be a game-changer, traders should remain cautious until there is official confirmation. Until then, PI remains in a bearish phase, with further losses likely unless buyers regain control. Best Wallet Token ($BEST): Secure Crypto Management & High-Yield Staking Best Wallet Token ($BEST) powers Best Wallet, an all-in-one crypto management platform for secure storage, trading, and staking. Available on Google Play and the App Store, it offers real-time investment insights and seamless staking, making it a go-to choice for crypto users. Why Best Wallet Stands Out Early Access to New Projects – Invest in tokens before they hit major exchanges. T op-Tier Security – Built on Fireblocks’ MPC-CMP framework for maximum protection. Extensive Crypto Support – Over 1,000 cryptocurrencies supported. New Update (v2.4.5) – Users can now claim tokens directly in-app. $BEST Token Highlights High-Yield Staking – Earn 146% APY on staked $BEST. Strong Community Trust – 182.3M $BEST staked. Growing Demand – $10.87M raised, price increasing soon! With high staking rewards, strong backing, and advanced technology, $BEST is positioned as one of the most promising utility tokens in the industry. The post PI Price Down Whopping 22.5% in the Past 24 Hours – What Is Next? appeared first on Cryptonews .

2025-03-09 14:13

Ethereum’s price has been underperforming, but behind the scenes, whales are making significant moves. Over the past 48 hours, ETH whales have acquired 1.10 million ETH, raising speculation about an impending market shift. With Ethereum’s total circulating supply at 120 million ETH, this purchase represents nearly 0.92% of all ETH in circulation. Ethereum whales have acquired 1.10 million ETH in just 48 hours, fueling speculation about a potential breakout. — Meme Coin Mania (@MemeCoinMania77) March 8, 2025 Despite this accumulation, ETH remains under pressure, trading at $2,195. This divergence between whale activity and price action has sparked debate: are whales betting on a long-term price surge, or is this simply strategic positioning amid market volatility? Historically, large-scale whale accumulation has preceded major price movements. In January 2025, whales purchased 330,000 ETH in a single week, driving a temporary rally. However, the current market sentiment remains cautious, with Ethereum struggling to break key resistance levels. ETH’s Price Action: Bulls Struggle to Gain Momentum Even with whale buying pressure, Ethereum remains in a downtrend. The price is below the 50-day EMA ($2,234), facing significant resistance at $2,228. A breakout above this level could shift momentum, but until then, downside risks remain. Technical indicators also support a bearish outlook: Relative Strength Index (RSI): 37, nearing oversold territory. MACD: Bearish crossover, signaling weak buying pressure. Descending Trendline: ETH must break $2,228 to regain bullish momentum. If Ethereum fails to hold above $2,000, a retest of $1,989 or even $1,864 could follow. On the upside, ETH needs to clear $2,393 to invalidate the downtrend. What’s Driving ETH? Trump’s Crypto Reserve & ETF Speculation Ethereum’s price action coincides with key developments in the crypto industry. On March 2, 2025, former U.S. President Donald Trump announced the creation of a U.S. Strategic Crypto Reserve, which includes Ethereum. This initially fueled optimism, but market sentiment cooled after it was revealed that the reserve would only hold seized crypto assets, not new acquisitions. Additionally, the White House Crypto Summit on March 7, 2025, sparked discussions about potential Ethereum ETF approvals, adding another layer of speculation. Ethereum currently dominates the stablecoin market with a 56% share, reinforcing its long-term value proposition despite short-term uncertainty. Conclusion: Ethereum remains under bearish pressure, with $2,228 serving as a major hurdle. If ETH fails to break this level, a drop toward $1,989 and $1,864 remains likely. However, if bulls reclaim $2,228–$2,234, Ethereum could target $2,393 in the short term. Best Wallet Token ($BEST): Secure Crypto Management & High-Yield Staking Best Wallet Token ($BEST) powers Best Wallet, an all-in-one crypto management platform for secure storage, trading, and staking. Available on Google Play and the App Store, it offers real-time investment insights and seamless staking, making it a go-to choice for crypto users. Why Best Wallet Stands Out Early Access to New Projects – Invest in tokens before they hit major exchanges. T op-Tier Security – Built on Fireblocks’ MPC-CMP framework for maximum protection. Extensive Crypto Support – Over 1,000 cryptocurrencies supported. New Update (v2.4.5) – Users can now claim tokens directly in-app. $BEST Token Highlights High-Yield Staking – Earn 146% APY on staked $BEST. Strong Community Trust – 182.3M $BEST staked. Growing Demand – $10.87M raised, price increasing soon! With high staking rewards, strong backing, and advanced technology, $BEST is positioned as one of the most promising utility tokens in the industry. The post Whales Grab 1.10 Million ETH: Market Breakout Incoming? appeared first on Cryptonews .

2025-03-09 13:54

Cardano (ADA) is struggling to recover, trading near $0.798, after a 26.9% weekly decline. The latest setback comes as Cardano’s co-founder, Charles Hoskinson, was excluded from the White House Crypto Summit on March 7, raising concerns about ADA’s standing in regulatory discussions. Cardano co-founder Charles Hoskinson was not invited to the White House crypto summit. -> Neither he nor Cardano have participated in political discussions. pic.twitter.com/jPaKhm9sFk — MocroMoon (@MocroMoon) March 6, 2025 His absence has sparked debate within the crypto community. Some speculate that Cardano’s exclusion from key policy discussions signals a shift in influence, raising concerns about ADA’s standing in the broader market. BREAKING NEW XRP SOL ADA WILL NOT BE IN THE CRYPTO STRATEGIC RESERVE!! IT WAS AN ENTIRE RUG PULL, This is why he mentioned BTC n ETH together The rest are shit coins. https://t.co/stBNefbT6o — Maximus Anonymus (@MaximusInvestor) March 6, 2025 Adding to the uncertainty, a White House official retracted a statement that initially suggested ADA, XRP, and Solana (SOL) were part of a proposed U.S. crypto reserve plan. This backtracking has fueled market volatility, leaving investors questioning ADA’s role in future regulatory decisions. Is Hoskinson’s Exclusion a Red Flag for Cardano Investors? The decision to leave Hoskinson out of the Crypto Summit has led to speculation about Cardano’s relevance in shaping crypto policy. Some industry analysts argue that projects with stronger institutional ties were prioritized, while others see it as a broader disconnect between regulators and emerging blockchain projects. Hoskinson was not invited to the White House Crypto Summit, raising concerns about Cardano’s influence. Market sentiment remains cautious, with ADA struggling to regain lost ground. Despite uncertainty, Cardano’s tech and community remain solid, supporting long-term prospects. While this exclusion alone isn’t a sell signal, it highlights regulatory uncertainty that could impact investor confidence. The focus now shifts to Cardano’s ability to drive adoption and innovation, rather than relying on policy recognition. Cardano (ADA/USD) Price Outlook: Bearish Breakdown Signals More Downside Cardano has confirmed a bearish breakdown below a symmetrical triangle on the 4-hour chart, indicating further downside risk. Key Resistance: $0.85 (50-period EMA) Support Levels: $0.76, with a deeper drop possible to $0.679 Failing to reclaim $0.85 would keep selling pressure intact, increasing the likelihood of a decline toward $0.76 or even $0.68. Cardano (ADA/USD) Price Chart – Source: Tradingview If buyers regain control, a breakout above $0.85–$0.90 would shift sentiment. Until then, ADA remains in a downtrend, with traders watching volume and market sentiment for further confirmation. Best Wallet Token ($BEST): Secure Crypto Management & High-Yield Staking Best Wallet Token ($BEST) powers Best Wallet, an all-in-one crypto management platform for secure storage, trading, and staking. Available on Google Play and the App Store, it offers real-time investment insights and seamless staking, making it a go-to choice for crypto users. Why Best Wallet Stands Out Early Access to New Projects – Invest in tokens before they hit major exchanges. T op-Tier Security – Built on Fireblocks’ MPC-CMP framework for maximum protection. Extensive Crypto Support – Over 1,000 cryptocurrencies supported. New Update (v2.4.5) – Users can now claim tokens directly in-app. $BEST Token Highlights High-Yield Staking – Earn 146% APY on staked $BEST. Strong Community Trust – 182.3M $BEST staked. Growing Demand – $10.87M raised, price increasing soon! With high staking rewards, strong backing, and advanced technology, $BEST is positioned as one of the most promising utility tokens in the industry. The post Cardano Founder Not at Crypto Summit: Will Price Fall Further From 26.9% This Week? appeared first on Cryptonews .

2025-03-08 13:31

Ripple (XRP) saw a sharp 6% decline, falling to $2.35 after former U.S. President Donald Trump announced the formation of a U.S. Strategic Bitcoin Reserve. On March 2, 2025, Trump revealed that the U.S. Strategic Crypto Reserve would include Bitcoin (BTC), Ethereum (ETH), XRP, Solana (SOL), and Cardano (ADA), aiming to position the U.S. as a leader in crypto adoption. Crypto prices fall as US strategic reserve plan disappoints traders https://t.co/uFJ3iSmoJc — FT Markets (@FTMarkets) March 7, 2025 Initially, this sparked bullish momentum, pushing XRP to $2.96. However, once it was clarified that the reserve would only hold seized crypto assets, not newly purchased ones, the enthusiasm faded, and XRP dropped back to $2.35. Is the SEC Dropping Its Case Against Ripple (XRP)? Despite XRP’s pullback, there’s speculation that its SEC lawsuit might be coming to an end. Anthony Scaramucci, founder of SkyBridge Capital, recently claimed that the SEC may have dropped its lawsuit against Ripple. He made this statement during an interview on The Wolf of All Streets podcast, comparing the case to other SEC withdrawals involving ConsenSys, Gemini, and Coinbase. BREAKING: Anthony Scaramucci, a former White House Director of Communications, suggests that the SEC has dropped its case against Ripple! #XRP pic.twitter.com/Sd8rHSjEiO — JackTheRippler © (@RippleXrpie) March 4, 2025 However, there’s no official confirmation from the SEC or Ripple, making this purely speculative. The lawsuit, originally filed in December 2020, accused Ripple of selling XRP as an unregistered security. While Ripple secured a partial legal victory in 2023, a ruling found that direct XRP sales to institutions violated securities laws, resulting in a $125 million fine. If the SEC withdraws, XRP could see a major rally, but uncertainty remains until an official announcement is made. Key Takeaways: Scaramucci suggested the SEC dropped its lawsuit, but no proof has surfaced. Ripple won a partial legal victory in 2023 but was fined $125 million. XRP could surge if the case ends, but uncertainty may delay bullish momentum. XRP Price Prediction: Triangle Breakdown Signals Bearish Bias XRP recently broke below a symmetrical triangle pattern on the 4-hour chart, reinforcing a bearish outlook. Key Resistance: $2.45 (50-period EMA) Immediate Support: $2.21, with downside potential to $2.03 The rejection from the descending trendline, combined with weak market sentiment, increases the likelihood of further selling. If XRP fails to reclaim $2.45, it could test $2.21 and potentially $1.88 if bearish momentum continues. A break back above $2.45 would be the first sign of bullish recovery, with a move toward $2.64 needed to confirm upside potential. Traders should monitor volume trends before taking new positions. BTC Bull: Earn Bitcoin Rewards with the Hottest Crypto Presale BTC Bull ($BTCBULL) continues to gain traction as a community-driven token that rewards holders with real Bitcoin. Unlike traditional meme tokens, BTCBULL automatically airdrops BTC when Bitcoin reaches key price milestones, making it an attractive option for long-term investors seeking passive income. Staking & Passive Income Opportunities BTC Bull offers a high-yield staking program, allowing users to earn passive income with an impressive 127% APY. The staking pool now holds 826 million BTCBULL tokens, reflecting strong community participation. This system provides sustainable rewards, ensuring consistent benefits for long-term holders. Latest Presale Price & Fundraising Progress BTC Bull features high-yield staking, allowing users to earn passive income with an impressive 154% APY. This staking system has already seen strong community participation, with millions of BTCBULL tokens staked. Current Presale Price: $0.0024 per BTCBULL Total Raised: $3,365,401 / $3,953,704 target With investor interest surging, this presale presents a chance to secure BTCBULL at early-stage prices before the next price jump. The post XRP Price Analysis: Can Bulls Reclaim $2.99 Amid Market Uncertainty? appeared first on Cryptonews .

2025-03-08 13:14

Bitcoin (BTC) struggled to maintain its bullish momentum, dropping below $87,000, even after former U.S. President Donald Trump declared that the U.S. government would never sell its Bitcoin holdings. Despite optimism surrounding the White House Crypto Summit and the introduction of a Strategic Bitcoin Reserve, bearish sentiment continues to weigh on BTC. Trump: "America Will NEVER Sell its #Bitcoin !" Today from the White House: Trump orders the rescinding & amending of all previous IRS crypto guidance. Government to explore new ways to buy more $BTC for the Strategic Bitcoin Reserve. US regulators say banks can… pic.twitter.com/ax5pWIj5Xh — Blok Topik (@Bok2in) March 7, 2025 As of today, BTC is trading at $86,060, marking a 2.5% decline over the past 24 hours. The 24-hour trading volume stands at $51.9 billion, reflecting high market activity. This dip follows Bitcoin’s brief surge to $94,000 earlier this week, where it failed to sustain gains. Whales Selling on Binance Accelerates Downtrend According to CryptoQuant analyst Crazzyblockk, large BTC holders, including whales and institutions, have been offloading BTC on Binance. This selling pressure has contributed to Bitcoin’s decline, as these investors capitalize on price rallies: Binance Whales Cash Out as Bitcoin DropsMore Downside Ahead?: https://t.co/vCL7KYeH0w — Bony Bean (@bonybean) March 8, 2025 BTC drops to $86,060 after failing to hold above $94,000 Whales and institutions selling on Binance add downward pressure Trump backs BTC, but market uncertainty limits bullish momentum While Trump’s support is seen as positive for Bitcoin’s long-term outlook, the immediate reaction has been muted, as traders remain cautious about further profit-taking and regulatory uncertainty. Trump Announces Strategic Bitcoin Reserve, Market Still Wary At the White House Crypto Summit, Trump and his crypto advisor David Sacks revealed that the U.S. holds 200,000 BTC under a new Strategic Bitcoin Reserve. This move signals a major shift in U.S. policy, positioning Bitcoin as a long-term asset rather than an asset to be sold for short-term gains. #Trump 's speech at the #Crypto Summit has ended. US President $TRUMP said in his speech, “The Treasury and Commerce Departments will explore new ways to accumulate additional #Bitcoin assets for reserves. The US will never sell #Bitcoin . The stablecoin law is scheduled to… — TenNetworks (@TEN_Networks) March 7, 2025 However, despite Trump’s bullish stance, the market remains cautious: Trump pledges not to sell U.S. Bitcoin holdings U.S. holds 200,000 BTC, making it the largest government BTC reserve Investors remain wary of future regulations and profit-taking risks Bitcoin (BTC/USD) Technical Outlook Bitcoin is consolidating within a symmetrical triangle on the 2-hour chart, currently trading near $86,060. Key technical levels indicate: Support at $86,910 – a critical pivot level Break below $86,910 could push BTC to $84,750 and $81,460 50-period EMA at $87,930 – acting as a resistance zone Break above $89,170 needed to regain bullish momentum toward $92,840 and $95,110 With weaker U.S. NFP data and a declining dollar, Bitcoin could see renewed upside momentum. However, the market remains in a wait-and-see mode, closely watching regulatory developments and whale activity. Conclusion While Trump’s announcement signals long-term institutional backing for Bitcoin, short-term price action remains bearish. Traders should monitor: Regulatory updates from the U.S. government Institutional selling trends on Binance Key resistance at $89,170 for signs of a bullish reversal Bitcoin’s future price trajectory will depend on how the market digests Trump’s pro-Bitcoin stance and whether institutional buyers step in to counteract the ongoing sell-off. BTC Bull: Earn Bitcoin Rewards with the Hottest Crypto Presale BTC Bull ($BTCBULL) continues to gain traction as a community-driven token that rewards holders with real Bitcoin. Unlike traditional meme tokens, BTCBULL automatically airdrops BTC when Bitcoin reaches key price milestones, making it an attractive option for long-term investors seeking passive income. Staking & Passive Income Opportunities BTC Bull offers a high-yield staking program, allowing users to earn passive income with an impressive 127% APY. The staking pool now holds 826 million BTCBULL tokens, reflecting strong community participation. This system provides sustainable rewards, ensuring consistent benefits for long-term holders. Latest Presale Price & Fundraising Progress BTC Bull features high-yield staking, allowing users to earn passive income with an impressive 154% APY. This staking system has already seen strong community participation, with millions of BTCBULL tokens staked. Current Presale Price: $0.0024 per BTCBULL Total Raised: $3,365,401 / $3,953,704 target With investor interest surging, this presale presents a chance to secure BTCBULL at early-stage prices before the next price jump. The post Trump Says US Will Never Sell Bitcoin: Long-Term Price Boost After Current Drop? appeared first on Cryptonews .

2025-03-08 12:49

Sam Bankman-Fried, the former CEO of FTX, has reportedly been placed in solitary confinement after participating in an interview with right-wing commentator Tucker Carlson without approval from prison authorities. A U.S. Bureau of Prisons representative confirmed to The New York Times on March 7 that the interview had not been authorized . Following its publication, Bankman-Fried was transferred to solitary confinement at Brooklyn’s Metropolitan Detention Center, where he has been held since August 2023. Strict Prison Rules Limit Inmate Communications and Contacts Prison regulations strictly control inmate communications, dictating who can contact them and through what means. The interview, which was released on Carlson’s YouTube channel on March 6, quickly gained traction, amassing over 730,000 views. During the discussion, Bankman-Fried spoke about his experience in prison and weighed in on cryptocurrency regulation in the U.S. He also maintained that he does not view himself as “a criminal.” Although Carlson did not explicitly ask Bankman-Fried if he expected a pardon from former President Donald Trump, the FTX founder appeared open to certain Republican viewpoints. Following the interview, speculation about a possible Trump pardon intensified. Crypto prediction platform Polymarket noted on X that odds of an SBF pardon “nearly doubled” after the interview’s release. If SBF wasnt in prison, he would be at the crypto summit in Washington today. — Andre Cronje (@AndreCronjeTech) March 8, 2025 Comparisons have also been drawn to Trump’s decision on Jan. 21 to pardon Ross Ulbricht, the founder of the Silk Road darknet marketplace, who had served 12 years in prison. Meanwhile, Bankman-Fried’s legal team continues to fight his conviction. In September 2024, his lawyers filed an appeal against his 25-year prison sentence and seven felony convictions. The 102-page appeal argues that he was “never presumed innocent,” citing media coverage and prosecutorial bias as factors that unfairly influenced his case. SBF’s Neurodivergence Disorders Impacted Trial As reported, a group of doctors submitted an amicus brief in support of Sam Bankman-Fried’s appeal , claiming that his criminal trial may have been significantly affected by his neurodivergence disorders. The FTX co-founder, who has been diagnosed with autism spectrum disorder (ASD) and attention-deficit/hyperactivity disorder (ADHD), faced “serious challenges” during the court proceedings, the doctors said. The brief, signed by eight doctors specializing in neurodivergence, highlighted that several rulings during the trial were detrimental to Bankman-Fried due to his conditions. The amicus brief also coincided with another filing by a group of bankruptcy law professors who expressed concerns about the intersection of FTX’s bankruptcy case and Bankman-Fried’s criminal trial. Although they did not take a stance supporting either side, the professors argued that the cooperation between the FTX bankruptcy estate and the prosecution could set a “dangerous precedent,” encouraging the use of Chapter 11 proceedings to bolster parallel criminal prosecutions. They pointed out that the assistance provided by the FTX bankruptcy estate to the prosecutors was “extraordinary compared to previous cases” such as Enron and WorldCom in the early 2000s. The professors also criticized the rapid pace of Bankman-Fried’s trial, which, they claimed, led jurors to believe — erroneously — that FTX customers would receive no compensation. The post Sam Bankman-Fried Placed in Solitary After Unauthorized Tucker Carlson Interview: Report appeared first on Cryptonews .

2025-03-08 11:44