News
Stay up-to-date on the most trending topics in crypto with our professional and in-depth news.
China’s potential yuan devaluation in response to U.S. tariffs could reignite Bitcoin demand as investors seek refuge from economic uncertainty, as analysts point to historical trends.
Quick Take Bitcoin and other major cryptocurrencies fell on Wednesday following Trump’s additional tariff measures. Analysts said bitcoin is still highly correlated to U.S. macroeconomic situations, given its recent price movements. U.S. Treasury yields also rose considerably on Wednesday, which shows “shrinking appetite” for risk assets including crypto.
Quick Take Bitwise CIO Matt Hougan expects the trade war to weaken the U.S. dollar’s reserve currency status and catalyze demand for “hard money” like bitcoin. Despite escalating tension, the asset manager maintained its $200,000 end-of-year BTC price target.
Quick Take President Donald Trump has paused tariffs for 90 days and lowered reciprocal duties to 10% for most countries. Markets immediately bounced on the news — bitcoin reclaimed $81,000 while equities trotted higher. Analysts had said Wednesday’s FOMC minutes may spur a “dead cat bounce” and herald a potential multi-week recovery.
Quick Take Magic Eden just made its biggest move beyond NFTs — buying Slingshot to take on centralized exchanges. The NFT marketplace will now support trading across millions of tokens.
Quick Take Griffith, known for his contributions to the Ethereum Name Service, pleaded guilty to sanctions violations in 2021 after giving a presentation titled “Blockchains for Peace” in North Korea.
Quick Take In a new Congress, lawmakers are quickly working to pass both a stablecoin bill and a market structure bill. Some Democrats on Wednesday raised concerns over the Department of Justice’s move to shutter its crypto litigation division
Quick Take The agency approved trading options on Wednesday for the iShares Ethereum Trust as well as the Bitwise Ethereum ETF, the Grayscale Ethereum Trust and the Grayscale Ethereum Mini Trust. Eight spot Ethereum ETF was approved almost a year ago and began trading over the summer.
- 02:19American Billionaire Investor Tim Draper: Bitcoin Will Replace the Dollar in 10 YearsPANews, May 14 - According to CoinDesk, American billionaire investor Tim Draper stated in an interview that Bitcoin will replace the dollar as the world's primary reserve currency within the next decade. He reiterated his prediction that Bitcoin will reach $250,000 by the end of 2025 and pointed out that when Bitcoin can be used for everyday payments and tax payments, the dollar will lose its value. Draper cited the 2023 Silicon Valley Bank collapse as an example to emphasize the fragility of the traditional financial system and suggested that companies hold both fiat currency and Bitcoin to cope with banking crises. Additionally, Draper believes that while stablecoins help in the adoption of digital currencies, they will eventually face inflation issues just like fiat currencies. He specifically mentioned that the US Dollar Index has dropped 8% this year, hitting its lowest point since April 2022, which supports his prediction of the "decline of the dollar."
- 02:19US Spot Ethereum ETF Inflows $13.37 Million YesterdayAccording to a report by Jinse Finance, monitored by FarsideInvestors, the US spot Ethereum ETF had a net inflow of $13.37 million yesterday.
- 02:18U.S. Spot Bitcoin ETF Experienced a Net Outflow of $91.39 Million YesterdayAccording to a report by Jinse Finance, monitored by TraderT, the U.S. spot Bitcoin ETF had a net outflow of $91.39 million yesterday.