Tether, the company behind the world’s largest stablecoin USDT, is making a big move into the American market. On Friday, CEO Paolo Ardoino announced the upcoming launch of a new U.S.-focused stablecoin called USAT, expected to go live by the end of the year.

The new project will be run by Bo Hines, a former White House digital assets official, who will serve as USAT’s CEO. Unlike Tether’s global USDT, USAT is being structured as a U.S. company, with headquarters in Charlotte, North Carolina.

What is USAT?

According to its official website, the new stablecoin is designed to give users the “power of the dollar” in digital form. It will be:

-  Fully backed by liquid reserves such as U.S. dollars and short-term Treasuries

-  Issued under U.S. law, specifically the recently passed GENIUS Act, which created the first federal regulatory framework for stablecoins

-  Capable of instant, peer-to-peer transactions without intermediaries

Unlike USDT, which is issued offshore, USAT will be issued directly from within the U.S. by Anchorage Digital Bank, a federally chartered crypto bank founded in 2017. Custody services will be provided by Cantor Fitzgerald, a major Wall Street firm.

Why Now?

Ardoino described the launch as a response to growing competition in the U.S. market, particularly from Circle’s USDC, which recently went public in a blockbuster IPO.

“I think it’s a very exciting moment because we were under severe pressure from competitors that want to create a monopolistic environment in the United States,” Ardoino said at the New York press event. “We believe that Tether is the best product in the market.”

Hines echoed the sentiment: “We want people to know that Tether is here to participate in the U.S. economy in a huge way. I think our expansion will be exorbitant over the course of the next 12 to 24 months.”

The Bigger Picture

Tether already plays a massive role in global finance. Its flagship stablecoin, USDT, has a market capitalization of more than $169 billion (CoinGecko). The company is also one of the largest buyers of U.S. Treasury bills, holding more than $33 billion worth as of 2024.

Analysts at J.P. Morgan recently noted that stablecoin issuers could become the third-largest buyers of U.S. government debt in coming years — an eye-opening prospect for both Wall Street and Washington.

The U.S. government has been warming up to stablecoins under the Trump administration. The GENIUS Act, signed into law in July, requires that all stablecoins be backed by high-quality liquid assets and that issuers publish monthly reserve disclosures.

A History of Scrutiny, and an Active Investigation?

Tether’s U.S. expansion comes despite its history of regulatory run-ins. In 2021, the company settled with the New York Attorney General’s office over allegations that it misled investors about the reserves backing USDT, agreeing to provide quarterly reports.

More recently, The Wall Street Journal reported that U.S. authorities were looking into whether Tether had violated sanctions or anti-money-laundering rules. Ardoino denied that the company is under investigation.

What’s Next

If USAT launches on schedule, it will directly challenge Circle’s USDC for dominance in the American stablecoin market. By anchoring the project within U.S. regulations and institutions, Tether is clearly signaling that it wants to be more than just the world’s leading offshore stablecoin issuer.

Personally, I find stablecoins hard to get excited about. Of course, I use them regularly and agree with their usefulness - but all I need to be fully satisfied with one is that it holds its value. If several prove to do this reliably, I don't care which one I use. It's just a bit odd seeing competition between coins  that literally do the exact same thing.

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Author: Oliver Redding
Seattle Newsdesk  / Breaking Crypto News

Most messaging apps today depend on the internet, big companies, and central servers to send your messages - none of the above applies to Bitchat, the new app co-created by Jack Dorsey (former Twitter CEO and co-founder) and Bitcoin developer and long-time privacy advocate Calle.

Bitchat features both messaging, and the ability to send/receive Bitcoin payments. 

The main motivator to create Bitchat was privacy, which is minimal in most popular messengers today,  as your data is being handled by someone else. Bitchat functions so independent from company servers, it doesn't even need an internet connection.   Bitchat doesn’t need the internet to work, and it even lets you send Bitcoin directly.

What Makes Bitchat Different?

1. Privacy First

Bitchat doesn’t ask for your email, phone number, or personal info. That makes it harder for companies, governments, or hackers to snoop on you. It’s built around Bitcoin’s core values: decentralization, censorship resistance, and peer-to-peer freedom.

2. Works Without Internet

Stuck at a festival with no signal? In a rural area? Or even in a power outage? Bitchat still works. That’s because it connects devices directly through something called a mesh network. Your messages hop from one phone to another until they reach the person you’re chatting with.

In fact, during major outages—like the one in April 2025 that knocked out power across parts of Spain, France, and Portugal—Bitchat could have kept people connected.

3. Send Bitcoin Anywhere

Besides chatting, you can also send Bitcoin through the app. No banks, no payment processors—just Bitcoin’s own network. Your phone can even create and sign transactions offline, which then travel through nearby devices until they reach the network.

For merchants, this could be a game-changer. Payments don’t need middlemen, and in the future, integration with the Lightning Network could make transactions even faster and cheaper.

4. Extended Range with Mesh Networks

Normally, Bluetooth works only a short distance. But Bitchat uses Bluetooth mesh networking—your message can jump from phone to phone, extending the range up to 300 meters (or farther if more people are connected). Think of it like a digital relay race.

5. Built on Cypherpunk Ideals

Bitchat isn’t just a tech experiment—it’s a nod to the cypherpunk movement, which values privacy, independence, and control over your own communications.

How It Works...

Local Mesh: Phones connect directly using Bluetooth Low Energy (BLE). Messages hop across devices until they arrive.

Optional Global Mode: If you want to reach beyond local connections, Bitchat can use Nostr—a decentralized protocol that runs through relays on the internet.

Encryption: Messages are secured with the Noise protocol, so only the sender and recipient can read them.

Efficiency: Data is compressed to save bandwidth, and the app adjusts its power use to save battery.

The app is still new, and while its private messaging system is strong, it hasn’t been fully audited by outside security experts yet.

Criticisms and Concerns...

Bitchat has gotten plenty of attention for its bold approach, but it hasn’t been without criticism.

When the beta launched earlier this month, Dorsey promoted it as a secure and private messaging tool. Soon after, security researcher Alex Radocea published a blog post pointing out a serious flaw: it’s currently easy to impersonate other people inside Bitchat.

“In cryptography, details matter,” Radocea wrote. “A protocol that has the right vibes can have fundamental substance flaws that compromise everything it claims to protect.”

Dorsey later admitted the app had not yet gone through an external security review, meaning there may still be unknown vulnerabilities.

Another concern is the app’s distribution. On iOS, Bitchat is available through the App Store. For Android, users must download it from GitHub since it hasn’t officially launched on Google Play. Unfortunately, multiple lookalike apps have already appeared on the Play Store—some with thousands of downloads—raising the risk that people may install a fake version instead of the real one.

The only legit ways to download it is the Apple App Store for iOS users, or their official GitHub for Android users. 

Should You Download It?

There's some legitimate reasons to have something capable of offline messaging for emergencies, places outside of cell reception, or places where cell towers can be overloaded like large events.  But i'd hold off on trusting it with your Bitcoin, the concerns we covered here are legitimate, and any environment where it's easy for one user to pose as another is not the place for financial transactions.  

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Author: Mark Pippen
London Newsroom
GlobalCryptoPress | Breaking Crypto News

Ethereum (ETH) surged to a fresh all-time high yesterday, smashing past the $4,800 mark and triggering one of the most dramatic liquidation events in recent memory. While the new price milestone made headlines, it was the fallout in leveraged trades—$364 million in total liquidations—that revealed the real impact on traders.

Who Got Hurt...

According to data from Coinglass, approximately $284 million was lost in short positions, while $80 million was wiped out from longs—the heaviest round of liquidations in six months.

Shorts Caught in a Squeeze: In Early, Wrong Prediction...

The largest losses came from traders betting against ETH, and were doing so before before the rally even began, convinced that a pullback was imminent. Others tried to call the top after a brief dip in price, expecting a correction. Both groups were caught flat-footed as Ethereum kept climbing, with their positions forcibly closed as the market moved against them.

Longs Buying the Top: Late To The Party...

Another wave of pain came from traders who joined the rally too late. Seeing ETH surge to new highs, they piled into long positions hoping the momentum would continue. Instead, the climb stalled, prices dipped, and their leveraged longs quickly unraveled—adding $80 million more to the liquidation tally.

The Day Ended Up Setting a Six-Month Record for Liquidations...

While the profits greatly outweighed the losses, it goes to show that anytime there's big movement there's a lot of money goin in either direction.  Many would assume a popular coin gaining a lot of value probably wouldn't trigger the highest liquidation day in 6 months - but it did. There's just so many people in the market now, each with their own thoughts and formulas to predict what's next - so no matter which way a coin goes, there's still going to be a lot of people who were wrong.   

Friday’s chart now shows the biggest single-day sell-off bar for ETH in six months. The spike in liquidations underscores how fast leverage can turn against traders when volatility accelerates.

The ETF Effect and What Comes Next...

Ethereum’s rally is playing out against a very different backdrop than past cycles: spot ETH ETFs are already live in the United States. These funds, launched in July 2024 by major players including Grayscale, Fidelity, iShares, and VanEck, collectively saw more than $1 billion in trading volume on their first day.

With ETFs in the mix, ETH’s price action is no longer just a story of crypto-native speculation. Traditional investors now have a regulated, accessible entry point, and their inflows and outflows are beginning to shape market dynamics.

Looking ahead, several factors will determine whether Ethereum continues its upward trajectory:

ETF Flows – Continued demand through ETFs could provide strong buying pressure, while outflows would apply the opposite effect.

Institutional Adoption – Funds, pensions, and asset managers are now able to allocate to ETH more easily, potentially creating sustained demand.

Network Upgrades – Improvements in Ethereum’s scalability and fee structure could strengthen the long-term bull case.

Macro Trends – As always, ETH remains tied to Bitcoin’s momentum and broader risk sentiment across global markets.

The Takeaway...

I have to be honest - I have no idea why anyone would have been betting big against ETH yesterday, I don't see any indicators telling me that would have been a good idea. So I can't answer why they did it, just how they lost it.

Ethereum’s breakout above $4,800 wasn’t just a milestone—it was a stress test for traders. Shorts betting against the rally lost $284 million, while late longs who bought the top lost another $80 million, bringing the day’s total to $364 million in liquidations.

At the same time, with spot ETFs already in play, Ethereum’s market is entering a new era where traditional financial flows matter just as much as crypto-native trading. If the past week proved anything, it’s that momentum in ETH can turn fast—and when it does, leverage cuts deep.

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Author: Mark Pippen
London Newsroom
GlobalCryptoPress | Breaking Crypto News

BONK Launchpad is having its moment. It’s become the go-to spot for top deployers migrating from Pump.fun, pushing out 300+ new tokens per day. That’s not just momentum—it’s dominance. BONK is now outpacing Pump.fun in both daily launches and token “graduations” (when a token hits enough liquidity and trading activity to get listed on big Solana DEXs like Raydium).

By the numbers, BONK is crushing it: it accounts for 58.5% of all token launches and an even more impressive 75% of all graduations. It just broke into the top 3 for memecoin social dominance—for the first time ever. The BONK crowd is loud, proud, and absolutely riding this wave.

But there’s a plot twist brewing...

Rumors are flying about a major comeback move from Pump.fun: a native token drop that could steal the spotlight back. Details are scarce, but a now-deleted pre-sale banner on Gate.io has only stoked the fire.

If the leak holds water, here’s what’s coming:

Token: $PUMP

Total Supply: 1 trillion

Pre-sale: 150 billion tokens at $0.004

Raise Target: $600 million

FDV: $4 billion

That $4B valuation looks like a bargain next to Messari’s $7B fair value estimate for Pump.fun. Then again, with 100% of tokens unlocking at launch, selling pressure could hit hard if the hype isn’t rock solid.

Sources on X point to a potential launch window between July 12–15, with the pre-sale possibly kicking off this Saturday. So yeah, it’s getting real.

What This Means for Solana...

A token drop of this scale isn’t just big news for Pump.fun—it could ripple across the entire Solana ecosystem.

Traders might dump other assets to ape into $PUMP,  Liquidity Drain: SOL could get sucked into $PUMP liquidity pools, starving smaller tokens, or it could trigger a hype squeeze where $PUMP hype might drown out new launches... which actually isn't good when you're a launchpad. 

With SOL already testing key support levels, any of those effects could create short-term turbulence. Weaker tokens could take the biggest hit, and fresh launches might get overshadowed entirely.

The Good News...

These storms usually pass quick. Solana’s still one of the most resilient ecosystems in crypto. Once the $PUMP hype cycle runs its course, we’ll likely see attention rebalance across the memecoin landscape.

Just be careful—this kind of buzz is prime time for scams. Fake $PUMP tokens will almost definitely flood in. As always, DYOR and stick to verified channels.

This isn’t just another token launch—it’s shaping up to be a full-on memecoin moment for Solana. Will $PUMP deliver the spark to reclaim the throne? Or is BONK just getting started?

Let’s see who really runs the playground.

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Author: Oliver Redding
Seattle Newsdesk  / Breaking Crypto News

Robinhood CEO Vlad Tenev announced significant moves during a recent interview, highlighting the company's expansion into Europe and vision for merging crypto and traditional finance.

Robinhood has officially launched its services in 31 European countries, offering tokenized stock solutions. Tenev explained that tokenized stocks address two crucial customer needs. First, European users gain seamless exposure to U.S. equities—among their most requested features. Second, tokenization signals Robinhood’s belief in a future where crypto and traditional finance fully merge. Tokenized assets offer cryptocurrency's liquidity and 24/7 trading capabilities to traditional stocks, both public and private.

"Robinhood Chain" Under Development...

Currently, Robinhood's stock tokens run on Arbitrum, an Ethereum layer-2 blockchain, but the company is developing its own blockchain—the Robinhood chain. Tenev stated the new chain aims to provide "military-grade security," fast transactions, and low costs, specifically optimized for real-world asset management, a niche currently underserved in the crypto space.

Staking, another significant development for Robinhood, recently launched in the U.S., following success in Europe. This service enables holders to earn yields on cryptocurrencies like Ethereum and Solana. Tenev described staking as crucial since it aligns individual customers with the collective security of blockchain networks, underscoring crypto’s ethos of decentralized participation.

Looking ahead, Tenev envisions a deeper integration between decentralized finance (DeFi) and traditional finance. Robinhood aims to transcend its original platform by building financial services entirely on blockchain technology, including payments, savings, and investments. He emphasized that stablecoins, such as USDC—which Robinhood helped develop—will play a central role in future banking, allowing interest-bearing crypto deposits.

US Companies Still Waiting on Regulatory Clarity...

However, Tenev noted regulatory barriers still exist in the U.S., particularly around tokenization and private market investing. He praised recent legislative efforts, including the Genius Bill and the Market Structure Bill, as critical steps forward. He also emphasized the urgent need for reforming accreditation standards, currently excluding most Americans from private market investments in high-value companies like OpenAI and SpaceX. Tenev expressed optimism about legislative and regulatory progress, emphasizing that the SEC already has the authority and willingness to move forward with tokenization.

In closing, Tenev reaffirmed Robinhood's dedication to leveraging crypto technology to democratize finance globally, showcasing how the future financial system might look entirely rebuilt on blockchain foundations.

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Author: Mark Pippen
London Newsroom
GlobalCryptoPress | Breaking Crypto News

In a surge of activity that may mark a pivotal moment for Bitcoin and the broader crypto market, a diverse set of publicly traded companies and financial institutions are now aggressively building digital asset reserves—led by Bitcoin, but increasingly extending into newer, execution-focused blockchains.

Those jumping in are finding the attention a company gains when announcing a large crypto investment is almost instantly boosting interest in their stock, with many seeing gains of 20% or more immediately following the announcement. 

From biotech firms to Wall Street giants, the message is clear: digital assets are no longer fringe experiments, but strategic assets with growing roles in treasury management, investment diversification, and future-facing innovation.

Medical Meets Bitcoin: Prenetics Buys $20 Million in BTC..

In a headline that once would’ve sounded like satire, a life sciences company has made one of the largest crypto purchases in its industry to date. Prenetics Global Limited, a genomics and diagnostics leader based in Hong Kong, acquired 187.42 Bitcoin—roughly $20 million—at an average price of $106,712 per BTC.

While unrelated to its core operations in DNA testing and personalized medicine, the company sees Bitcoin as a long-term complement to its mission. CEO Danny Yeung believes “genomics, personalized medicine, and digital assets will intersect,” envisioning a future where blockchain and healthcare co-evolve to redefine how we view longevity, privacy, and generational wealth.

Lion Group Bets Big on DeFi with $600M Credit Line

Meanwhile, Lion Group Holding, a Nasdaq-listed firm, has secured a massive $600 million credit facility to accumulate Solana (SOL), Sui (SUI), and a relatively new but rapidly emerging token: Hyperliquid (HYPE). Through this initiative, dubbed “HYPE Treasury,” the company aims to position these assets—especially HYPE—as foundational pillars for an on-chain derivatives and treasury strategy.

“HYPE, with decentralized sequencing, fits into our vision of scalable DeFi systems,” said CEO Wilson Wang. The firm is even considering dual listings on the Tokyo and Singapore stock exchanges, signaling ambitions to globalize what could be the first HYPE-based treasury structure in Asia.

This move further reflects the growing trend of companies not just investing in crypto, but aligning their business models with decentralized finance itself.

Semler Shifts Focus: Aiming for 105,000 BTC and a New Director of Bitcoin Strategy

Joining the institutional frenzy, Semler Scientific, a medical diagnostics firm, is prioritizing Bitcoin accumulation over its core operations. The company has revealed plans to purchase up to 105,000 BTC—roughly 0.5% of Bitcoin’s fixed 21 million coin supply.

To guide this strategic shift, Semler hired renowned Bitcoin researcher Joe Burnett as its Director of Bitcoin Strategy. Burnett’s background includes roles at Unchained and Blockware Solutions, indicating a deliberate pivot toward deep crypto expertise.

Semler’s bold play adds fuel to a new narrative: that public companies may soon see Bitcoin not just as a hedge—but as a primary reserve asset.

BlackRock’s Bitcoin ETF Nears $70 Billion AUM...

And then there’s BlackRock—the world’s largest asset manager—whose Bitcoin ETF, the iShares Bitcoin Trust (IBIT), has amassed nearly $70 billion in assets under management. This accounts for over 3.25% of the total BTC supply and more than half of the market share among all U.S.-listed spot Bitcoin ETFs.

The sheer size and speed of IBIT’s growth underscore what analysts have hinted at for months: institutional adoption is accelerating, and it’s no longer speculative. According to Brickken analyst Emmanuel Cardozo, “institutional players are here for the long run.”

What This Means: Short-Term and Long-Term Outlook...

In the short term, these moves could spark increased price stability and renewed upside momentum for Bitcoin and select altcoins. Institutional buying reduces circulating supply and raises confidence in BTC as a safe-haven asset—especially in volatile macroeconomic conditions.

At the same time, the entry of companies outside traditional finance—such as medical and biotech firms—suggests Bitcoin is transcending its role as just "digital gold" to become a strategic reserve for a variety of industries.

In the long term, this convergence of crypto with sectors like genomics, diagnostics, and asset management may birth entirely new hybrid financial models. We could see decentralized protocols serving as backbone infrastructure for corporate treasury management, health data systems, or even personalized asset portfolios for individuals.

As companies like Semler, Prenetics, and Lion Group pivot their balance sheets and strategic direction toward blockchain, and with giants like BlackRock normalizing BTC on Wall Street, the message to competitors is simple: adapt or risk irrelevance in the age of decentralized capital.

In Conclusion...

The era of speculative crypto hype may be ending, but what’s taking its place is far more profound: a reshaping of corporate finance where digital assets are no longer optional. Whether Bitcoin becomes the new gold standard of the corporate world or just one of several strategic assets remains to be seen—but the race is undeniably on.

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Author: Ross Davis
Silicon Valley Newsroom
GCP | Breaking Crypto News

Bitcoin just broke past $109,500, setting a new all-time high and officially leapfrogging Amazon in market cap. That puts BTC in the heavyweight category—now the fifth most valuable asset on the planet. Next up on its leaderboard hit list: Apple, Nvidia, Microsoft, and the big one—gold.

So, what’s fueling this meteoric rise? It’s not just hype. We're seeing a powerful mix of institutional money, rising retail investor confidence, and a macro environment that’s turning in Bitcoin’s favor. Risk-on assets are back in play, and Bitcoin’s looking like the king of that hill.

Importantly, this isn’t some knee-jerk spike off a news headline. The price movement is broad-based and organic—a sign that momentum could be sustainable rather than just a flash in the pan.

What’s Next?

Bitcoin’s now flirting with the $110K mark, a zone packed with liquidity. That means we could hover around this zone for awhile. But not everyone's expecting a cooldown.

Market analyst Willy Woo, for one, thinks we’re just getting started. On X this morning, he posted: “Once BTC properly breaks the all-time highs, the move to $118k will be very fast.” 

In Conclusion

Bitcoin is no longer knocking on the door—it’s already inside the house with the big players. And with its capped supply, frictionless digital transferability, and apolitical foundation, it’s positioned unlike anything else on Wall Street. As trust in institutions gets shakier and the world grows more digital and decentralized, Bitcoin’s rise feels less like a trend—and more like a tectonic shift.

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Author: Ross Davis
Silicon Valley Newsroom
GCP | Breaking Crypto News

Today we're learning the story of a Bitcoin block that was mined just a couple days ago by a solo miner, surprising the crypto community by successfully mining block #887,212 with just a 480 GH/s Bitaxe rig.

For some perspective, these mini-miners earn about $3 per year - yes you're reading that correctly, per year - that is, unless it happens to be the one to mine a new block.  Running a small rig like this is often compared to buying a lotto ticket, except you only need to pay once and get to play every day.

The Odds...

This miner was using solo.ckpool, a popular choice among individual miners looking to strike digital gold without joining massive pools.

Pool developer Con Kolivas emphasized how remarkable this feat was, estimating that similar rigs have less than a one-in-a-million daily chance of solving a block. Statistically speaking, the average wait time for success with a rig this size is roughly 3,500 years.

To put this into perspective, industrial-scale Bitcoin miners commonly run setups about 2000% more powerful, so beating them with a rig this size is extremely rare.

Tiny Rig, Huge Payoff

This miner earned a reward of about $260,000 at the time, or 3.15 BTC plus an extra 0.025 BTC from transaction fees, according to mempool.space.

Adding to the surprise, the Bitaxe rig used in this incredible win was ultra-affordable, selling for around $90 on Ebay.

Solo Mining Faces Giants

Today, Bitcoin mining is dominated by major players like Foundry USA, whose massive hashrate primarily comes from publicly traded giants such as Cipher Mining, Bitfarms, and Hut 8. MARA Holdings, another heavy hitter, even operates its own dedicated MARA Pool.

Unlike commercial mining hardware that's typically proprietary, Bitaxe offers open-source solutions. Enthusiasts like Skot claim that open-source mining better reflects Bitcoin's core decentralized spirit—making this rare win even sweeter for Bitcoin purists.

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Author: Mark Pippen
London Newsroom
GlobalCryptoPress | Breaking Crypto News

The race to integrate Bitcoin into state treasuries is heating up. So far, 20 U.S. states have introduced bills aiming to accumulate BTC as a financial asset—but Utah is pulling ahead with real legislative momentum.

A new bill, HB 230, just cleared a major hurdle. The “Digital Innovation and Blockchain Amendments” bill, which could allow the state treasurer to allocate public funds into Bitcoin, has now been formally introduced to the Utah Senate’s Revenue and Taxation Committee.

Back in January, the bill passed Utah’s House of Representatives with an 8-1 vote, and on February 7, it advanced to the Senate for its first reading. If enacted, up to 5% of Utah’s state funds could be invested in “qualified digital assets”—a category that, under the bill’s criteria, currently includes only one cryptocurrency: Bitcoin.

Utah's HB 230 isn’t just about buying Bitcoin...

It also lays the groundwork for regulatory oversight, custody protocols, and even permits the treasurer to engage in staking and lending of crypto assets under certain conditions. Additionally, the bill introduces new rules around stablecoin investments, reflecting the broader push to formalize crypto within government finance. The proposal is spearheaded by Utah Rep. Jordan Teuscher.

If it keeps gaining traction, the bill could take effect on May 7, 2025. And according to Dennis Porter, CEO of Satoshi Action Fund, Utah is positioned to be the first U.S. state with an official Bitcoin treasury, thanks to its tight 45-day legislative session.

This state-level push follows Donald Trump has floating the idea of a Federal Bitcoin Reserve - his 'crypto task force' is already exploring ways to make it happen. In an interview with Bloomberg President Trump says he believes that if the U.S. doesn’t move fast, rival nations will.

As Utah moves forward, all eyes are on whether this bill will set a precedent for other states looking to put Bitcoin on their balance sheets.

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Author: Ross Davis
Silicon Valley Newsroom
GCP | Breaking Crypto News

In a move that would've seemed wild just a few years ago, over a dozen states are seriously considering holding Bitcoin reserves as part of their fiscal strategy.

It began when Trump, not yet elected and on the campaign trail, mentioned the idea as part of his plan to make the US the 'crypto capital of the world'.  Since taking office, one of the executive orders he signed on the first day created the committee to propose new regulations, and to look into the creation of a national cryptocurrency stockpile.

Looking to capitalize on the creation of a Federal Bitcoin Reserve, 15 states have either passed or introduced state-wide Bitcoin reserve bills, including Alabama, Arizona, Florida, Kentucky, Massachusetts, Montana, New Hampshire, North Dakota, Ohio, Oklahoma, Pennsylvania, South Dakota, Texas, Utah, and Wyoming. Pennsylvania was the first to propose it, in a bill in November of last year. 

What Exactly is a Bitcoin reserve?

A Bitcoin reserve is basically a stash of Bitcoin owned and managed by a government, much like how many countries hold gold, silver, gems, or oil reserves.

The reasoning behind it - the most basic fundamental of investing; diversifying your investments. Like gold, Bitcoin has shown itself to be a hedge against inflation. When the dollar loses value, people look for alternative ways to store their wealth, ideally somewhere it isn't losing value.  In every major economic downturn, you'll see the charts for gold on the rise, and more recently, Bitcoin.  Earning the nickname 'digital gold' for this reason. 

How Exactly Would the State or Federal Government Acquire Bitcoin?

So far, proposals have included selling a portion of existing reserves, and using that to purchase Bitcoin. Other proposals involve changes to the State's annual budgets where they would reallocate funds, for example, lawmakers in Oklahoma, New Hampshire, and Pennsylvania have proposed that up to 10% of public funds on a temporary basis until a set goal is reached. 

Other states believe their residents who are crypto fans would be willing to donate some of theirs, just to show their support for the concept. 

Lastly, Texas has floated the idea of allowing residents to pay taxes and fees in Bitcoin, and these  payments would go directly into a state reserve, where it couldn't be touched for 5 years. 

How Would this Effect the Market Overall?  

All analysis seems to conclude that this would trigger a significant spike, with a combo of factors working together in a way that could only send the price up.  There is a record number of wallets owned by investors who buy Bitcoin and hold it, leaving it untouched no matter what the market is doing. Then there's the growing number of companies with Bitcoin on their balance sheet.

This means governments, companies, and individuals would be holding Bitcoin for the long haul, with no intent to sell anytime soon. Now factor in that there is only 20 million Bitcoins in circulation, and an estimated 6 million of those sit in wallets where the owner lost the key to access them (many from the early days when Bitcoin was worth a few cents, people didn't carefully backup the key to wallets holding thousands of Bitcoin)

Now imagine with this: Those who hold Bitcoin aren't looking to sell,  limited supply of Bitcoin available, dozens of countries follow the US's lead and begin creating Bitcoin reserves of their own. If those holding Bitcoin aren't willing to sell, there's only one option left - change their mind by offering more. Some are citing this as the path to a $1M Bitcoin price, and while I think that number may be unrealistically high, I do agree it's the path to set new record highs. 

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Author: Oliver Redding
Seattle Newsdesk  / Breaking Crypto News

The New York Stock Exchange (NYSE) just applied to the U.S. Securities and Exchange Commission (SEC) to list and trade the Grayscale XRP Trust as an exchange-traded fund (ETF). If approved, it would transform the existing trust into an ETF, opening the door for more investors—from curious retail traders to heavyweight institutions—to get in on the action.

This move could mark a pivotal moment for XRP, the cryptocurrency from Ripple Labs that’s been a hot topic for its ongoing legal showdown with the SEC. Approval would likely boost XRP’s reputation and adoption, weaving it more seamlessly into mainstream financial markets.

Converting the Grayscale XRP Trust into an ETF aims to make investment in XRP easier and more aligned with traditional financial systems. That means the ETF structure could potentially bring in both established and first-time crypto investors, turning a once-controversial asset into something more approachable and SEC-compliant.

It could be months until we find out if an XRP ETF will become a reality. Approval would very likely come with a nice boost to XRP's price, while a denial could go either way, largely depending on if investors increase their exposure to XRP anticipating approval. 

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Author: Justin Derbek
New York News Desk
Breaking Crypto News

The first full day with President Donald Trump back in the White House begun with crypto making a notable leap on Tuesday, buoyed by a resurgence in bullish sentiment following President Donald Trump’s first full day back in the White House. Bitcoin surged over 2%, hitting $107,180 and finding support around $106,200.

In the spotlight was “Official Trump,” a token introduced last week to symbolize the new administration. After a rocky start with a plunge of more than 20%, the token managed to trim its losses to 2.5% within 24 hours. This rebound hints at the market's tentative optimism surrounding Trump's crypto-friendly promises.

SEC Announces Their "Crypto Task Force"...

On the regulatory front, the Securities and Exchange Commission took a proactive step by announcing that Acting Chair Mark Uyeda has established a “crypto task force.” This initiative aims to develop a comprehensive and clear regulatory framework for crypto assets, signaling a move towards more structured oversight in the space.

Trump’s return has been met with enthusiasm from crypto investors who view his presidency as a potential catalyst for industry growth. The president has pledged to implement policies that support cryptocurrencies, including a favorable regulatory environment and the creation of a federal Bitcoin reserve. 

As the crypto market navigates these developments, traders should keep a close eye on regulatory changes and market sentiment shifts. The intersection of political influence and digital assets continues to shape the future landscape of cryptocurrency investment and innovation.
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Author: Oliver Redding
Seattle Newsdesk  / Breaking Crypto News

In a bold move toward integrating cryptocurrency into national policy, Japanese Senator Satoshi Hamada has submitted a formal proposal urging the government to establish a strategic bitcoin (BTC) reserve. The request, officially registered in Japan's Upper House of Parliament, advocates for converting part of the nation's foreign exchange reserves into bitcoin and other virtual currencies.

Hamada's proposal, titled “Letter of Intent on the State of Understanding of the Bitcoin Reserve Movement Promoted by the United States and Other Countries,” underscores the growing global interest in bitcoin as a treasury asset. He highlighted bitcoin’s decentralized and neutral qualities, describing it as less influenced by specific nations or institutions, making it a resilient and reliable economic tool.

This call to action aligns with a broader trend, as nations and corporations worldwide explore bitcoin treasuries to diversify their reserves. The United States, for instance, has drawn attention for its discussions around adopting bitcoin as part of its economic strategy, spurred by promises from President-elect Donald Trump.

In Japan, the interest in bitcoin is also evident in the private sector. A prime example is Metaplanet Inc., a Japanese company that saw its stock value surge by 1,700% in a single year due to its investment in bitcoin. Hamada cited such cases to illustrate the potential benefits of incorporating bitcoin into national reserves.

The Japanese government is expected to issue a formal response to the proposal in the coming weeks, with the reply likely to be published on its official website. How Japan addresses Hamada's initiative could influence other nations, given Japan's reputation for technological innovation and its leadership in adopting financial technologies.

The Move Could Influence Other Nation's to Follow...

As the world watches, Japan's decision could set the tone for how advanced economies approach bitcoin in their fiscal policies, potentially ushering in a new era of cryptocurrency-backed reserves.

Japan has long been a pioneer in cryptocurrency adoption. Bitcoin and other cryptocurrencies have been legal in the country since 2017, though their use has largely been limited to speculative trading since 2019. Hamada’s proposal could signal a shift toward viewing bitcoin not just as an investment or trading tool but as a strategic national asset.

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Author: Adam Lee 
Asia News Desk / Breaking Crypto News

This new feature means businesses can now accept USDC from customers across 150+ countries, a step forward announced by Jeff Weinstein, Stripe’s product lead, on X. With a celebratory tweet, he declared, “Crypto on Stripe is officially back!” and mentioned that the feature is launching immediately for hundreds of thousands of U.S.-based businesses.

And it’s not stopping there—Stripe has plans to bring this crypto payment option to more countries soon. Decrypt has also reached out to get further details on the international rollout timeline.

By bringing crypto back, Stripe joins rival PayPal, which first introduced its “Checkout With Crypto” feature in 2021. Following PayPal’s model, Stripe will make crypto payments easier by automatically converting stablecoin transactions into fiat currency and settling them directly into merchants’ Stripe accounts—making crypto transactions simpler and more accessible than ever.

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Author: Mark Pippen
London Newsroom
GlobalCryptoPress | Breaking Crypto News

PayPal is taking another step forward in the cryptocurrency space, announcing on Wednesday that U.S. merchants can now buy, hold, and sell crypto directly through their business accounts.

This move reflects the growing mainstream acceptance of digital currencies, especially following the approval of Bitcoin exchange-traded funds (ETFs) by the U.S. Securities and Exchange Commission (SEC) earlier this year. What was once considered a fringe asset class is now becoming more integrated into traditional finance.

"Business owners have increasingly expressed interest in having the same cryptocurrency options that consumers already enjoy," said Jose Fernandez da Ponte, PayPal’s Senior Vice President of Blockchain, Cryptocurrency, and Digital Currencies.

PayPal's Decision to Enter Crypto has Paid Off, Big...

PayPal first entered the crypto scene in 2020, allowing customers to trade and hold Bitcoin and other cryptocurrencies within its platform. Since then, they’ve been leading the charge for fintech companies embracing digital currencies. Most notably, in August 2023, PayPal launched its own dollar-backed stablecoin, marking a major milestone as the first major fintech to introduce a stablecoin for payments and transfers.

Stablecoins, unlike more volatile cryptocurrencies, are tied to stable assets, providing a level of price protection for users wary of the dramatic swings often seen in the market.

In addition to this, PayPal is also allowing U.S. merchants to transfer cryptocurrencies externally to third-party wallets, further expanding their crypto functionality. However, there’s one notable exception—these new crypto services won’t be available to businesses in New York at launch.

PayPal's move into the crypto sector has been paying off, and is credited as a primary reason for the the company's stock boost this year, where it's climbed nearly 26% so far.

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Author: Mark Pippen
London Newsroom
GlobalCryptoPress | Breaking Crypto News