First 100 days under President Trump: crypto industry faces new challenges and opportunities

  • SEC and CFTC leadership reshuffled to favour digital asset regulation.
  • Strategic Bitcoin Reserve created, but without new BTC purchases.
  • WLFI stablecoin launch triggered calls for an ethics investigation.

The first 100 days of US President Donald Trump’s second term have reshaped the cryptocurrency and blockchain landscape through sweeping policy moves, regulatory changes, and controversial personal involvement.

From the launch of a new meme coin ahead of the Inauguration Day to the creation of a US Bitcoin reserve, President Trump has pushed an aggressively pro-crypto stance, while simultaneously sparking regulatory concern, geopolitical tension, and significant market volatility.

A series of tariffs, executive orders, and personnel appointments have created both opportunity and uncertainty across digital asset markets.

WLFI token launch, SEC shakeup mark start of term

On 20 January, as Trump took the oath of office, his family’s investment firm World Liberty Financial (WLFI) launched the second phase of its token sale.

The non-transferable WLFI token was followed by a wave of crypto-friendly appointments.

Paul Atkins was named as SEC Chair on day one, replacing Gary Gensler, while Brian Quintenz was nominated to lead the CFTC.

David Sacks, a vocal supporter of crypto, was appointed to chair the President’s Council of Advisors on Science and Technology, positioning him as a central figure in both blockchain and AI policymaking.

The WLFI token, initially marketed as a patriotic memecoin aligned with Trump’s return to power, gained traction on platforms like X and Telegram.

The token’s branding heavily featured themes tied to American exceptionalism and conservative values.

Despite being non-tradable and unavailable on major exchanges, the project drew attention from retail investors hoping for eventual utility.

WLFI’s promotional material also teased exclusive access perks for top holders, culminating in a controversial event later in the quarter.

Trade tariffs shake miners, while Bitcoin reserve takes shape

Just weeks into the new administration, Trump’s economic nationalism began to impact the crypto industry.

On 1 February, broad tariffs were imposed on Mexico, China, and Canada, citing security and fentanyl concerns.

Markets dipped in response, with Bitcoin miners particularly affected due to higher import costs for essential hardware.

The situation escalated on 2 April when Trump introduced a 10% minimum tariff on all countries that tax US goods, branding it “Liberation Day.”

Meanwhile, on  March 7, the president signed an executive order establishing a Strategic Bitcoin Reserve.

Though the move was intended to formalise the US’s stake in crypto markets, it disappointed many investors by not initiating fresh purchases.

$TRUMP token dinner fuels backlash and ethics probe

Donald Trump’s $TRUMP meme coin surged over 50% in value to reach a $2.7 billion market cap after the project announced that the top 220 token holders would be invited to a black-tie dinner with the former US president on 22 May.

The event, hosted at his private club in Washington, also includes a VIP White House tour for the top 25 holders.

According to Chainalysis, Trump and his allies earned nearly $900,000 in trading fees from the token in just two days following the announcement.

Since its January launch, the token has generated $324.5 million in trading fees through a mechanism that redirects a portion of each transaction to insider wallets.

The Trump Organisation and affiliates reportedly control around 80% of the token supply, which is locked under a three-year vesting schedule.

The dinner offer has triggered backlash from lawmakers and watchdogs, with Senators Elizabeth Warren and Adam Schiff calling for a federal ethics probe, alleging it may constitute “pay to play” behaviour.

Meanwhile, Trump’s broader crypto ventures, including the $MELANIA token and World Liberty Financial, have raised $550 million, with Trump-affiliated entities entitled to 75% of net revenue.

The shift comes amid weakened regulatory oversight of the crypto sector under Trump’s administration.

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XRP price rises 8.6% this week as ETF momentum builds

  • Market cap stands at $130 billion as of 30 April.
  • XRP Ledger now handles 3,400+ transactions/sec.
  • Despite positive momentum, economic risks could cap near-term gains.

XRP has rallied 8.63% over the past week, trading at $2.22 as of 30 April 2025, according to CoinMarketCap.

The token’s latest market capitalisation stands at $130.09 billion, with 58.44 billion XRP in circulation and $2.89 billion in 24-hour trading volume.

While XRP is down 3.04% in the past 24 hours, it remains up sharply from its April lows.

The recent momentum is largely attributed to optimism surrounding the launch of XRP futures exchange-traded funds (ETFs), despite the delay of ProShares Trust’s product to 2025.

Analysts say XRP’s recent breakout above its 21-day and 50-day moving averages—combined with the end of a multi-week downtrend—suggests continued strength in the short term.

The current focus is whether XRP can retest 2025 highs and potentially reach $3.40, although macroeconomic uncertainties remain a limiting factor.

Legal win and SEC approval drive sentiment

Ripple’s March 2025 legal victory against the US Securities and Exchange Commission (SEC) has revived investor confidence.

The ruling cleared the path for XRP-based futures ETFs, providing institutional investors with new avenues for exposure.

The surge in XRP follows a similar pattern seen with Bitcoin’s reaction to its spot ETF approvals in early 2024.

Market observers believe XRP could mirror Bitcoin’s post-ETF rally, especially as investor sentiment continues to improve.

XRP’s price strength, even amid broader volatility, reinforces its position as a leading altcoin heading into the second half of 2025.

Trump policies and Fed caution weigh on upside

Despite positive momentum, economic risks could cap near-term gains. President Trump’s expanded tariff programme and renewed trade disputes have fuelled concerns of stubborn inflation.

This, in turn, may keep the US Federal Reserve in a hawkish stance longer than markets would prefer.

These factors increase the likelihood of risk-off behaviour among investors, which could impact high-volatility assets like XRP.

As a result, while some traders have speculated about XRP surging toward $10, this scenario appears unlikely unless broader market conditions shift significantly.

Ripple network and adoption expand

Beyond price action, Ripple’s ecosystem continues to grow. The December 2024 launch of the RLUSD stablecoin has enhanced on-chain liquidity and transaction flexibility.

Upgrades to the XRP Ledger have also boosted transaction speeds, now capable of handling more than 3,400 transactions per second, improving its appeal for institutional use.

The Trump administration’s pro-crypto stance—including the appointment of Paul Atkins as SEC Chair—suggests that regulatory clarity may continue to improve.

In March, Trump identified XRP as a key digital asset that could be included in the US government’s digital stockpile initiative.

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Libre and the TON Foundation to launch a $500M Telegram Bond Fund

  • Libre and TON Foundation will launch a $500M Telegram Bond Fund on the TON blockchain
  • The tokenised bond fund offers accredited investors on-chain access to Telegram’s institutional-grade bond yields.
  • Tokenised bonds exemplify the transformative potential of blockchain to democratize access to sophisticated financial instruments.

Libre and the TON Foundation are collaborating to create a $500 million Telegram Bond Fund ($TBF) on the TON blockchain, marking one of the largest tokenised corporate debt ventures in history.

In a blog on TON’s website, Max Crown, the CEO of the TON Foundation, underscores that this collaboration “unlocks powerful new opportunities for TON’s community to engage with real-world assets in a secure and accessible way,” solidifying TON’s leadership in regulated asset tokenisation.

Tokenising Telegram bonds

By digitising a slice of Telegram’s $2.35 billion in outstanding bonds, $TBF offers accredited investors an unprecedented on-chain gateway to institutional-grade fixed-income products with yields reaching up to 9.4%.

The new fund introduces seamless subscription, redemption, and transfer capabilities through its multi-phase Libre Gateway infrastructure, leveraging Libre’s proven track record, which has tokenised over $200 million in assets alongside titans like BlackRock and Brevan Howard.

With TON’s deep integration into Telegram’s ecosystem of over 950 million users, investors can now access and manage their tokenised bond holdings directly from TON-native wallets, bridging the gap between fiat, stablecoins, and decentralised finance.

Through $TBF, tokenised bonds can serve not only as yield-bearing instruments but also as on-chain collateral for borrowing, yield farming, and a growing array of decentralised finance (DeFi) products built on TON’s scalable network.

Dr. Jez Mohideen, Chairman of Libre and CEO of Laser Digital, emphasises that TON’s unique symbiosis of mass-market usability and institutional infrastructure creates “a seamless bridge between TradFi and DeFi for a global, digitally native audience.”

The launch arrives amid an $18.9 billion surge in real-world asset tokenisation, where corporate debt has historically lagged behind commodities and real estate, positioning $TBF as a catalyst for broader market adoption.

By enabling future issuances of Telegram bonds to flow through the same compliant, on-chain framework, Libre and the TON Foundation are laying the groundwork for an enduring ecosystem of digital debt markets.

Institutional participants can now tap into a fully on-chain issuance stack that promises transparency, efficiency, and regulatory compliance, while retail users stand to benefit from a new frontier of yield and utility seamlessly embedded in their favourite messaging app.

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Arthur Hayes at Token2049 says Bitcoin will hit $1 million by 2028

  • Arthur Hayes has predicted Bitcoin price will reach $1 million in 2028.
  • Hayes shared the bold forecast during a keynote speech at Token2049 in Dubai.
  • Bitcoin price reached an all-time high of $109k.

Arthur Hayes, the former CEO of BitMEX, has again offered a massive prediction for Bitcoin (BTC), stating during a keynote speech at Token2049 in Dubai that the benchmark cryptocurrency could skyrocket to $1 million by 2028.

The Maelstrom CIO, known for his sharp market insights, told investors that this could be the time to “go long on everything.”

Hayes’ bullish prediction for BTC comes as the top coin’s price hovers near $95k, with buyers eyeing a march to $100k and potentially a new all-time high.

Notably, Bitcoin’s price has swung wildly in recent months amid tariffs uncertainty and broader risk-off sentiment.

What! Bitcoin to $1 million?

Bitcoin reached highs of $109k and analysts predict a run to $150k-$250k by end of 2025.

Above this, bulls, including Michael Saylor, see Bitcoin price going vertical to $1 million and beyond.

In his speech, which largely mirrored his perspectives on expected macroeconomic shifts, Hayes looked at the current global markets and US. fiscal policies.

According to him, the market is set for a flood of liquidity, and with it, Bitcoin’s parabolic surge to new heights.

Hayes grounds his analysis on the monetary policy, with comparisons to the outlook in the third quarter of 2022.

While the implosion of crypto exchange FTX later accelerated the bear market, investor sentiment was largely on the floor amid rate hike fears.

The US government’s pumping of $2.5 trillion into the system via its repo program in that year is a blueprint for what’s likely to come.

The BitMEX co-founder recently highlighted the US Treasury’s Quarterly Refunding Announcement for further context.

Higher borrowing estimates and a lower Treasury General Account (TGA) target, are factors that signal a potential short term flip for Bitcoin.

While tariffs could pose volatility risks, Hayes massive buying of Treasuries is what could boost liquidity indirectly, paving the way for Bitcoin’s ascent to $1 million by 2028.

Recently, Cathie Wood’s Ark Invest shared a $1 million price target for BTC by 2030.

Meanwhile, analysts at CryptoQuant are pointing to Bitcoin hitting new all-time highs in terms of realized capitalization.

Per the analysts, this metric hitting new ATHs has often preceded massive price gains for BTC.

On-chain data shows whales have been aggressive in the past fortnight.

Per crypto analyst Ali Martinez, whales bullish on BTC have accumulated more than 43,100 BTC in the past two weeks. The total value of the accumulated assets stood at nearly $4 billion.

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Crypto news today: Bitcoin tops $95K, stocks rally despite analyst’s ‘blind market’ warning

  • Bitcoin traded above $95,400 Tuesday, showing resilience despite economic concerns.
  • US stocks (S&P 500, Nasdaq +0.55%) also continued their recovery from early April tariff fears.
  • Consumer confidence hit lowest since May 2020; JOLTS job openings missed estimates.

Cryptocurrency markets displayed notable stability on Tuesday, seemingly unfazed by mounting pessimism regarding the economic impact of the Trump administration’s tariff policies.

Bitcoin edged higher, reclaiming ground above $95,000, while traditional stock markets also continued a recovery trend, prompting some analysts to question whether markets are accurately pricing in underlying economic risks.

Markets march higher despite warning signs

Bitcoin (BTC) continued its recent positive momentum, gaining about 1% over the preceding 24 hours to trade near $95,400.

This move brought the key $96,000 level – last seen in late February – within striking distance.

The broader crypto market showed similar resilience, with the CoinDesk 20 index advancing 1.1%.

Bitcoin Cash (BCH) stood out with a significant 6.3% surge.

Crypto-related equities also participated, albeit modestly, with Coinbase (COIN) up 0.9% and MicroStrategy (MSTR) adding 3.3%, while Janover (JNVR) continued its strong run (+16%) linked to its Solana accumulation strategy.

This relative calm in digital assets mirrored strength in traditional equities.

Both the S&P 500 and the Nasdaq composite posted gains of 0.55%, extending the recovery from the tariff-induced panic seen earlier in April.

Economic data paints sobering picture

However, this market buoyancy unfolded against a backdrop of increasingly concerning economic indicators, suggesting a potential slowdown possibly linked to the White House’s tariff strategies.

The Conference Board reported that US consumer confidence plummeted to its lowest level since May 2020, with the forward-looking consumer outlook component hitting its weakest point since 2011.

Simultaneously, the latest Job Openings and Labor Turnover Survey (JOLTS) indicated a cooling labor market, with job openings falling to 7.19 million in March, significantly below the expected 7.5 million.

Adding to the complex policy environment, Secretary of Commerce Howard Lutnick mentioned Tuesday that a trade deal had been reached with an unspecified country, though he noted it still required ratification, offering little immediate clarity on the broader tariff situation.

Analyst warns of market ‘blindness’ to fundamental risks

This apparent disconnect between market performance and weakening economic data has raised red flags among some observers.

Jeff Park, head of Alpha Strategies at digital asset investment firm Bitwise, expressed strong concern about the market’s perspective.

“Hard to fathom how blind the market really is,” Park posted on the social media platform X (formerly Twitter).

He argued that the market’s intense focus on potential Federal Reserve interest rate cuts misses a larger, more fundamental risk.

“A Fed cut means nothing if US creditworthiness is permanently impaired by the global community as resulted by dollar weaponization,” Park elaborated, linking the potential damage to Trump administration policies that leverage the dollar’s global role.

He suggested that speculation about whether the Fed might be forced to cut rates to offset tariff impacts is misplaced.

“That’s the mispricing we are talking about here,” he continued.

The myopic focus on whether [we] are getting a fed cut in May/June is completely irrelevant if the notion of the risk-free as we know it is fundamentally challenged forever, which means cost of capital globally is going higher.

Park’s comments highlight a deeper concern: that markets might be rallying on short-term hopes (like potential rate cuts) while ignoring potentially severe, longer-term structural damage to the US financial standing and the global cost of capital caused by ongoing policy uncertainty and aggressive trade tactics.

While Bitcoin holds firm near recent highs, the debate continues over whether current market strength reflects genuine resilience or a dangerous disregard for underlying economic headwinds.

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