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Sam Bankman-Fried’s parents are seeking a presidential pardon from Trump

  • Joseph Bankman and Barbara Fried have met with lawyers and members of president Donald Trump’s administration
  • Trump has already pardoned Silk Road creator Ross Ulbricht who served 12 years in prison
  • Early Bitcoin investor Roger Ver, who faces a 109-year prison sentence, has also asked Trump to help him

The parents of former FTX CEO Sam Bankman-Fried are seeking to get their son a presidential pardon from Donald Trump.

Stanford law professors Joseph Bankman and Barbara Fried have reportedly met with lawyers and members of Trump’s administration. According to Bloomberg, the pair hopes to receive clemency for their son, who is serving a 25-year prison sentence.

Bankman-Fried was sentenced last March after being found guilt of fraud. The platform filed for bankruptcy in 2022.

Pardoning Ulbricht

The move comes as Trump gave a presidential pardon to Silk Road creator Ross Ulbricht in the first week of entering the White House.

During his presidential campaign, Trump promised that he would release Ulbricht – who served 12 years in prison – if he was re-elected as president.

According to the report, Bankman-Fried previously called his sentence “draconian” despite FTX customers having recovered most of their money. In December, it was reported that the crypto exchange would begin repaying customers in early January.

Gary Wang, FTX co-founder, avoided a prison sentence in November with judge Lewis Kaplan sentencing him to time served. Nishad Singh, an ex-FTX executive, also avoided a prison sentence.

However, Caroline Ellison, the former CEO of Alameda Research – the sister company to FTX – received a 24-month prison sentence in September.

Last Sunday, early Bitcoin investor Roger Ver posted a video message on X calling on Trump to help him avoid a prison sentence of up to 109 years. In his message, Ver wrote: “Mr. President, I am an American, and I need your help. Only you, with your commitment to justice, can save me @realDonaldTrump.”

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Bitcoin price prediction 2025 – Will institutional inflow drive growth?

The cryptocurrency market was bullish in 2024. Bitcoin, the leading cryptocurrency by market cap, added over 140% to its value last year, outperforming other major assets, including Gold (26%) and S&P 500 (23%). 

Last year’s rally saw Bitcoin break past the $100k mark for the first time in its history. This article will explore Bitcoin’s price performance so far this year and how far it can go. 

Bitcoin Hit a New All-time High on Jan. 20

New year, same Bitcoin. The leading cryptocurrency by market cap continued where it left off in 2024. The Bitcoin price surged to a new all-time high on January 20th after hitting the $109,114 mark. 

The market has been volatile since then, with BTC slipping below $98k on Monday, January 27th. However, it has since recovered and now trades above $102k per coin. If the bullish momentum resumes, Bitcoin could set a new all-time high in the coming weeks or months. 

How High Can Bitcoin Go?

Bitcoin has already set a new all-time high in 2025, but many analysts believe it could go higher in the coming months. The predictions differ, ranging from $150,000 to $250,000.

However, some macroeconomic factors could determine how high Bitcoin’s price could go in 2025. Here are the factors.

inflation/ Interest rate

The inflation and interest rates in the United States usually play a huge role in the Bitcoin price outlook. A low inflation rate will see the Federal Reserve decrease interest rates to stimulate the economy and try to raise inflation levels to their target range. The lower the interest rates, the higher the price of assets like Bitcoin and Gold. 

The Federal Reserve is expected to cut interest rates twice in 2025, which could be bullish for Bitcoin and other major assets.

Retail and Institutional Adoption

2024 saw significant liquidity from institutional investors into Bitcoin and the trend could continue this year. Michael Saylors’ MicroStrategy leads the way and has already spent billions of dollars this year in adding bitcoins to its holdings.

Thanks to the launch of Bitcoin ETFs last year, more players are also getting into Bitcoin. BlackRock’s ETF, now the fastest-growing in history, has simplified access for institutional investors. The growing participation indicates Bitcoin’s appeal to retail and institutional players. 

A Possible U.S. Strategic Reserve

There are talks of a possible digital assets strategic reserve in the United States. Donald Trump’s activeness in the crypto space in recent months has amplified this prediction.

If the United States launches a digital assets reserve with Bitcoin at the helm, BTC’s price could surpass the $200k average prediction in 2025. 

Top Analysts Forecasts

Bitcoin has gone mainstream, so several leading analysts in the global financial markets are focusing on it. Some of these analysts shared their predictions for the Bitcoin price in 2025. 

Markus Thielen, head of research at Matrixport, is bullish on BTC’s price prediction, setting it at $160,000 before the end of the year. He told CNBC that,

“This outlook is supported by sustained demand for Bitcoin ETFs, favorable macroeconomic trends, and an expanding global liquidity pool. Bitcoin’s growing base of dip buyers and robust institutional support is expected to mitigate severe corrections.”

Alex Thorn, head of research at crypto-focused asset manager Galaxy Digital, is also bullish, predicting BTC’s price to hit $185k in 2025. He said,

“A combination of institutional, corporate, and nation-state adoption will propel Bitcoin to new heights in 2025. Throughout its existence, Bitcoin has appreciated faster than all other asset classes, particularly the S&P 500 and gold, and that trend will continue in 2025. Bitcoin will also reach 20% of Gold’s market cap.”

Finally, Geoffrey Kendrick of Standard Chartered expects institutional flows into Bitcoin to continue, predicting Bitcoin’s price could hit $200,000 in 2025. He stated that,

“Even a small allocation of the USD 40tn in US retirement funds would significantly boost BTC prices. We would turn even more bullish if BTC saw more rapid uptake by US retirement funds, global sovereign wealth funds (SWFs), or a potential US strategic reserve fund.”

Bitcoin has already hit a new all-time high in 2025. Do you see it going higher or do you predict a market correction in the coming months?

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El Salvador approves new bill to comply with IMF deal

  • The reform passed with 55 votes, with only two against
  • El Salvador became the first country to accept Bitcoin as legal tender in 2021
  • In December, El Salvador announced it was changing its Bitcoin law to secure a $1.3bn loan from the IMF

El Salvador’s Congress has approved a bill to change its Bitcoin law to comply with a deal it struck with the International Monetary Fund (IMF).

On January 29, Reuters reported that the bill was approved minutes after President Nayib Bukele sent it.

The reform passed with 55 votes, with only two against. Under El Salvador’s Bitcoin law, it required businesses to accept Bitcoin if they were able to do so. Ruling party lawmaker Elisa Rosales said it was required to ensure Bitcoin’s “permanence as legal tender” while facilitating its “practical implementation.”

Legal tender

El Salvador became the first country to accept Bitcoin as legal tender in 2021. At the time, it was reported that all businesses must accept Bitcoin. The move soon attracted the attention of the IMF.

Following El Salvador’s adoption of Bitcoin in 2021, the IMF sent a statement in November 2021 “recommend[ing] narrowing the scope of the Bitcoin law” while “strengthening the regulation and supervision of the new payment system.”

This was again called for in January 2022, when the IMF advised El Salvador to reconsider its decision to make Bitcoin the country’s legal tender. More recently, the IMF recommended that El Salvador limit the public’s exposure to Bitcoin.

New deal

In December, El Salvador changed its Bitcoin plans to secure a $1.3 billion loan from the IMF.

Under the plans, El Salvador would change a legal requirement making businesses accept Bitcoin as payment, making it optional instead. The government would also reduce the budget deficit by 3.5% of GDP over three years through spending cuts and tax rises while boosting reserves from $11 billion to $15 billion.

The deal is also expected to unlock a further $1 billion in lending from the World Bank and $1 billion from the Inter-American Development Bank over the next few years.

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Czech National Bank governor wants to invest in Bitcoin

  • If the plan is approved, the CNB could hold up to five percent of its €140 billion reserves in Bitcoin
  • Michl believes the Bitcoin trend will continue even without the Trump administration
  • The governor said he’s open to Bitcoin ending up becoming worthless

The governor of the Czech National Bank has said that he’ll present a plan to the board to invest in Bitcoin as a way for the bank to expand its reserves.

In an interview with the Financial Times, governor Aleš Michl, who is expected to present the plan on Thursday, said: “For the diversification of our assets, Bitcoin seems good.”

If the board approves the plan, the bank could hold up to five percent of its €140 billion ($146 billion) reserves in Bitcoin.

Trump impact

Michl also pointed to US President Donald Trump’s impact on the crypto market. Last week, Trump signed an executive order for a crypto working group to provide regulatory clarity on crypto. It’s also expected to look into a national Bitcoin stockpile.

Despite believing that the Trump administration could “create some bubble for Bitcoin,” Michl added that the Bitcoin trend “would be an increase without those guys as well, because it’s an alternative [investment] for more people.”

Since being re-elected to the White House, Trump has appointed several pro-crypto candidates to top positions. Paul Atkins is expected to become the chair of the US Securities and Exchange Commission (SEC), a position previously held by Gary Gensler.

Wider investor interest

Michl pointed to the increased investor interest, thanks to the introduction of US spot Bitcoin exchange-traded funds (ETFs) last January.

Yet, while the governor is presenting a plan to the board, he said that he was open to Bitcoin becoming worthless.

“It’s possible to have a big range of outcomes, that Bitcoin will have a value of zero or an absolutely fantastic value . . . but in our history we have also had some stocks like Enron or the payment company Wirecard, so we have some experience with bad investments, so, yes, I’m ready [for a possible Bitcoin collapse].”

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MEXC’s Insurance Fund Account Provides $414M+ to Mitigate Traders’ Bankruptcy Losses

MEXC, a leading global cryptocurrency exchange, has provided over $414 million through its Insurance Fund Account to cover deficits that occur when users’ losses during liquidation exceed their available margin as of January 23, 2025. This impressive figure underscores MEXC’s commitment to asset security and risk mitigation. Combined with Proof of Reserve, MEXC offers traders robust protection against extreme market fluctuations. 

How MEXC’s Insurance Fund Account Mitigates Risk for Traders

The MEXC Insurance Fund Account, launched in November 2024, is specifically designed to protect traders from extreme market fluctuations, such as those experienced during a bull run, where rapid price swings can lead to a user’s account value to dip below the required margin level, triggering a liquidation. Should the liquidation price be worse than expected, resulting in losses that exceed than the available margin (a scenario known as bankruptcy), the Insurance Fund steps in to cover these excess losses, thus facilitating a smoother liquidation process.

The fund is continually replenished by surpluses generated from liquidation orders executed at better-than-expected prices, ensuring its stability and ongoing protection during periods of high volatility. 

In line with its commitment to transparency, MEXC provides users with direct access to both current and historical insurance fund amounts for various cryptocurrencies on the platform.

In addition, MEXC provides Proof of Reserve to ensure asset safety and maintain transparency for its users. This allows users to trade with confidence, free from concerns about withdrawal runs. The reserve rates are updated every two months. As of Dec 1, 2024, the latest reserve rates for various cryptocurrencies are as follows:

  • USDT: 104.52%
  • USDC: 116.52%
  • BTC: 105.88%
  • ETH: 105.65%

By offering high leverage alongside an Insurance Fund Account and Reserve Rate exceeding 100%, MEXC ensures multiple layers of protection to safeguard traders’ positions and ensure asset security. 

The Go-To Platform for Seamless Crypto Trading

In addition to implementing robust safety measures to ensure a secure trading environment, the platform offers a variety of features and services designed to enhance the user experience. These features help traders minimize costs and maximize returns. MEXC is committed to empowering traders by enabling investments across the widest range of assets, ensuring safe and seamless transactions regardless of market conditions.

  • M – Most Trending Tokens: MEXC is known for its rapid token listings and diverse selection of popular tokens, helping users capitalize on emerging opportunities. To date, over 3,000 tokens have been listed on the platform.
  • E – Everyday Airdrops: MEXC makes it easy for users to engage in daily airdrop events and receive substantial rewards without complex procedures. In 2024, the platform completed 2,293 airdrop events, distributing over $136 million in rewards.
  • X – Xtremely Low Fees: MEXC offers highly competitive trading fees, helping users reduce costs and maximize their growth potential.
  • C – Comprehensive Liquidity: Backed by strong liquidity and market depth, MEXC ensures the efficient and seamless execution of every transaction, minimizing slippage even during volatile conditions.

These features have helped MEXC attract over 30 million users across over 170 countries, establishing it as the platform of choice for an increasing number of traders around the world.

Learn more about the MEXC Insurance Fund Account.

About MEXC

Founded in 2018, MEXC is committed to being “Your Easiest Way to Crypto”. Serving over 30 million users across 170+ countries, MEXC is known for its broad selection of trending tokens, frequent airdrop opportunities, and low trading fees. Our user-friendly platform is designed to support both new traders and experienced investors, offering secure and efficient access to digital assets. MEXC prioritizes simplicity and innovation, making crypto trading more accessible and rewarding.

MEXC Official Website｜ X ｜ Telegram ｜How to Sign Up on MEXC

Risk Disclaimer:

The information provided in this article about cryptocurrencies does not represent MEXC’s official stance or investment advice. Given the highly volatile nature of the cryptocurrency market, investors are encouraged to carefully evaluate market fluctuations, project fundamentals, and potential financial risks before making any trading decisions. 

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