Kategorie: Crypto Markets

Daily headlines and news about crypto markets.

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Elon Musk doesn’t think Roger Ver should get a presidential pardon

  • Roger Ver is calling on President Donald Trump to help him avoid a 109 year prison sentence
  • Last week, Trump pardoned Silk Road creator Ross Ulbricht who had spent 12 years in prison and was serving two life sentences plus 40 years without parole
  • Jameson Loop, Casa’s CSO, has echoed Musk’s sentiments and doesn’t believe Ver should receive a presidential pardon

Elon Musk, Tesla and SpaceX CEO, has said that early Bitcoin investor Roger Ver shouldn’t get a presidential pardon from Donald Trump.

Musk, who is to lead Trump’s DOGE agency to “dismantle government bureaucracy,” took to X to air his views.

“Roger Ver gave up his US citizenship. No pardon for Ver. Membership has its privileges,” he wrote.

On January 26, 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.”

Echoing Musk’s comments, Jameson Lopp, Casa’s CSO, responded on X, by saying: “You aren’t an American any more. Remember when you renounced your citizenship?”

Clashing with US authorities

Ver’s appeal comes as Trump pardoned Silk Road creator Ross Ulbricht last week after spending 12 years in prison.

In 2014, Ver renounced his US citizenship, becoming a citizen of St. Kitts and Nevis. In April 2024, Ver was arrested in Spain and charged with filing false tax returns and tax evasion.

According to a 2024 US Department of Justice statement, Ver is alleged to have failed to detail his Bitcoin ownership to the US Internal Revenue Service (IRS), causing the loss of at least $48 million.

Ver has stated that he’s been “terrorized by rogue US government agents who hate American freedom” for decades. On his website, Ver claims that the US government has pursued him on “baseless charges of mail fraud, tax evasion, and false filings – retaliation for his outspoken criticism.”

Bret Weinstein, an American author, said on X that “pardoning Roger is the strongest signal the President could send that Biden’s war on crypto is over.”

The post Elon Musk doesn’t think Roger Ver should get a presidential pardon appeared first on CoinJournal.

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Trump family’s crypto project World Liberty buys $10m ETH

  • Donald Trump-backed crypto project uses dip to buy ETH.
  • Arkham data shows World Liberty Financial bought $10 million of Ethereum’s ETH as prices plummeted.

World Liberty Financial, the crypto project backed by U.S President Donald Trump, has scooped another $10 million worth of Ethereum (ETH).

The World Liberty wallet has in recent weeks aggressively purchased various tokens, and on Jan. 27, added ETH worth $10 million.

Trump-backed World Liberty buys ETH

Per market intelligence and security platform Arkham, the Trump family crypto project acquired the 3,247 ETH via crypto platform Cow Protocol. The purchase, including the recent $47 million in ETH bought on Trump’s inauguration day, brings the total Ethereum holdings World Liberty Financial has amassed to 59,265 ETH.

Arkham data shows te value of these tokens currently stand at around $185 million at the time of writing.

Notably, the purchase came as Ethereum and other cryptocurrencies mirrored Bitcoin’s sell-off on Monday. BTC dropped below $100k and touched lows near $97,900 as risk assets sold-off amid market’s negative reaction to the unveiling of China’s AI app DeepSeek.

The bloodbath that wiped off close to $1 billion in crypto positions as liquidations mounted in 24 hours had Ethereum’s price plummeting to near $3,000. World Liberty Financial exploited the dip as a buy opportunity.

MicroStrategy also bought more BTC, adding over $1 billion of the benchmark digital asset to its rapidly growing Bitcoin haul. The firm now holds 471,107 BTC purchased for $30.4 billion at the average price of $64,511 per BTC.

Overall, World Liberty holds cryptocurrencies worth over $381 million.

In addition to the $185 million in ETH, the platform also has over $65 million in Wrapped Bitcoin (WBTC), more than $60 million in Lido Staked ETH (STETH) and $33 million in USDC stablecoin. The project also holds USDT, LINK, AAVE and ENA among other tokens.

The post Trump family’s crypto project World Liberty buys $10m ETH appeared first on CoinJournal.

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Acting US CFTC chair hints at roundtable to address digital assets market issues

  • Acting US CFTC Chair Caroline Pham has said that the commission will host roundtables on several issues including digital assets.
  • The acting chair aims for clear crypto market rules.
  • Pham’s move comes as the Senate prepares to vote on a bill clarifying the roles of the CFTC and the SEC concerning digital assets regulations.

In a significant move to address the burgeoning complexities of prediction markets and digital assets, the Acting Chair of the US Commodity Futures Trading Commission (CFTC), Caroline Pham, has announced plans for a series of public roundtable discussions.

This initiative, outlined in a notice dated January 27, aims to delve into market issues, with a particular focus on digital assets, conflicts of interest, and prediction markets.

The announcement follows shortly after Pham’s appointment as acting chair, a position she took up after the inauguration of US President Donald Trump. Her tenure as a CFTC commissioner since April 2022 has seen her advocating for clear regulatory guidelines in the crypto market.

The exact timeline for a permanent CFTC chair nomination by Trump remains unclear, but the focus on regulatory clarity in digital assets signals the administration’s priority.

The roundtables are expected to occur over the next several months, providing a platform for dialogue with industry leaders and market participants.

Notably, this comes as part of Pham’s broader vision to ensure that the regulatory framework can keep pace with the rapid developments in the digital asset space, ensuring both innovation and investor protection.

A “back to basics” approach

Pham emphasized a “back to basics” approach, indicating that the CFTC’s strategy involves fostering a robust administrative record through studies, data analysis, expert reports, and public input.

Pham has stated that a holistic approach to evolving market trends will help to establish clear rules of the road and safeguards that will promote US economic growth and American competitiveness.

The transition in leadership at the CFTC coincides with significant changes at the Securities and Exchange Commission (SEC), where former Commissioner Paul Atkins has been nominated by Trump to replace Gary Gensler as chair.

Until Atkins’s confirmation, SEC Commissioner Mark Uyeda will serve as acting chair, hinting at potential shifts in regulatory oversight for digital assets across both agencies.

The move by Pham also aligns with legislative efforts in Congress. One notable bill, the Financial Innovation and Technology for the 21st Century (FIT21) Act, passed the House in May 2024 and is set for a Senate vote.

This legislation aims to clarify regulatory roles between the CFTC and SEC concerning digital assets, potentially reshaping how these markets are supervised.

Former CFTC Chair Rostin Behnam, who recently stepped down, had also highlighted the urgency of addressing regulatory gaps in the crypto sector, a sentiment that Pham seems to be carrying forward. His departure marks the end of an era but also the beginning of what could be a transformative period for cryptocurrency regulation in the US.

The proposed roundtables are anticipated to provide valuable insights and might influence forthcoming regulatory policies, ensuring they are both proactive and responsive to the dynamic nature of digital markets.

Stakeholders across the financial sector will be watching closely, as these discussions could set precedents for how digital assets are regulated, not just in the U.S. but potentially influencing global standards.

The post Acting US CFTC chair hints at roundtable to address digital assets market issues appeared first on CoinJournal.

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How low can Pepe Coin (PEPE) drop after the whale-triggered selloff?

  • Whales have sold off over 1.1 trillion PEPE coins
  • Technical indicators signal a potential for further decline
  • The immediate support is at $0.00000782, with the risk of a drop to $0.0000060

Pepe Coin (PEPE) has been on a downward spiral, with its price plummeting to around $0.000012, marking a 17% drop in the last 24 hours and a 28% decline over the past week.

This sharp downturn has brought PEPE to its lowest level since November 13, with the coin now trading 54% below its peak in December.

Whales have sold off over 1.1T PEPE coins

The main catalyst behind this price crash appears to be the significant selloff by large investors, often referred to as “whales.”

These investors have moved over 1.1 trillion PEPE tokens to exchanges in a very short period, creating an oversupply in the market.

These movements have not only increased the supply of PEPE on exchanges by 1.31% (from 237.18 trillion to 240.28 trillion), but also suggest a bearish outlook among major holders, further fueling market instability.

Technical analysis points to a more bearish sentiment

PEPE price’s technical analysis is fraught with signals of potential further decline:

  • Death Cross Formation: The convergence of the 200-day and 50-day weighted moving averages is hinting at a death cross, which if confirmed, would solidify the bearish sentiment.
  • Support and Resistance Levels: PEPE is currently trading within a range established in April 2024, with boundaries between $0.00000633 and $0.00001461. The immediate support level to watch is around $0.00000782, with further support at $0.0000060, a level last seen in August.
  • MACD and RSI: Both the Moving Average Convergence/Divergence (MACD) and the Relative Strength Index (RSI) are showing continued declines, suggesting that the selling pressure might persist, pushing the price closer to these support levels.
How low can Pepe Coin (PEPE) price drop
Pepe Coin (PEPE) price chart by TradingView

Will the PEPE price rebound soon?

Following the dip, the market sentiment around PEPE has turned notably negative, with smart money investors drastically reducing their exposure. The count of smart money holders has decreased from 91 in December to 69, with their holdings dropping from nearly 12 trillion to 9.5 trillion PEPE tokens.

This divestment by informed and large-scale investors signals a lack of confidence in PEPE’s short-term recovery.

Given the current whale activity, technical patterns, and declining investor confidence, Pepe Coin could see further price drops. If the support at $0.00000782 fails to hold, a decline towards or even below $0.0000060 is plausible, representing a potential 56% drop from its current level.

However, while the current scenario looks bleak, there’s always the possibility of a rebound in the volatile crypto market. Factors like a surge in Bitcoin (BTC) due to favourable economic policies or renewed interest in meme coins could provide a lifeline for PEPE.

However, at this juncture, these scenarios appear to be on the horizon rather than immediate solutions.

The post How low can Pepe Coin (PEPE) drop after the whale-triggered selloff? appeared first on CoinJournal.

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European Central Bank wants a digital euro as Trump embraces stablecoins

  • ECB is pushing for a digital euro amid the rise of stablecoins.
  • President Donald Trump recently signed an executive order on US dollar-backed stablecoins.
  • The digital euro is a strategic move to streamline intra-Eurozone transactions.

In a momentous move towards digitalization, the European Central Bank (ECB) has reiterated its commitment to introducing a digital euro, spurred in part by a recent executive order by the newly inaugurated United States President Donald Trump about stablecoins.

The ECB’s push reflects a broader strategy to adapt to the evolving landscape of digital finance while maintaining control over the monetary system within Europe.

ECB is countering recent executive order by Trump on stablecoins

The ECB’s motivation for a digital euro stems from the need to keep up with the rapid shift towards digital payments, ensuring that the euro remains relevant in an increasingly cashless society.

According to Reuters, ECB board member Piero Cipollone highlighted the potential threat posed by Trump’s recent executive order, which promotes the global use of US dollar-backed stablecoins.

Trump’s order, signed on January 23, aims to foster the growth of these digital currencies worldwide, potentially pulling customers away from traditional banking systems and thus disintermediating banks in the process.

Cipollone addressed this issue at a conference in Frankfurt, emphasizing that such a move by the US could lead to a significant shift in financial dynamics. “This solution, you all know, further disintermediates banks as they lose fees, they lose clients… That’s why we need a digital euro,” he stated, underscoring the urgency of the ECB’s project.

The journey towards a digital euro began in October 2021 with the ECB launching pilot programs to explore the feasibility and impact of such a currency. These programs are part of a broader initiative to offer a safe and efficient alternative to private cryptocurrencies, especially those issued outside of Europe.

The digital euro would not only ensure easier and more inclusive payments but also cater to those without bank accounts, broadening financial access across the Eurozone.

The ECB’s push for a digital euro is also seen as a strategic move to enhance Europe’s autonomy in the global financial landscape. By reducing reliance on non-European payment providers, the digital euro could streamline intra-Eurozone transactions, making them more cost-effective and efficient.

Banks express concerns about potential capital outflows

However, the introduction of a digital euro is not without its challenges. Banks have expressed concerns about potential capital outflows as customers might prefer the security of an ECB-backed digital wallet over traditional accounts.

In response, the ECB has proposed safeguards like setting holding limits for digital euros and introducing a “waterfall mechanism” to manage currency flow, ensuring that excessive amounts do not remain outside the banking system.

Additionally, the ECB will not pay interest on digital euros, further deterring large accumulations.

Contrasting with the US approach, where Trump has prohibited the Federal Reserve from issuing its own CBDC, thereby indirectly supporting private stablecoin providers like Circle, Tether, and PayPal, the ECB envisions a system where the digital euro acts as a liability of the central bank but is distributed through banks and other payment service providers.

This approach aims at maintaining a balance between innovation and regulation, ensuring that new financial technologies can thrive while still under central oversight.

The post European Central Bank wants a digital euro as Trump embraces stablecoins appeared first on CoinJournal.