Author: Max Bauer

Cardano’s native token ADA experienced a dramatic 35% price surge following founder Charles Hoskinson’s announcement of his planned involvement in shaping U.S. cryptocurrency policy under the Trump administration. The token breached the 58-cent mark, reaching levels not seen since April, while posting impressive weekly gains exceeding 77%. Trading activity intensified significantly, with volumes skyrocketing from $300 million on Friday to $3.3 billion on Saturday. Futures markets reflected growing investor interest, with ADA-denominated open interest reaching 858 million ADA (approximately $500 million), suggesting increased speculation on potential future price movements. During a Friday podcast on X, Hoskinson outlined his commitment to…

Jan van Eck, CEO of VanEck, a global asset management firm, recently predicted that Bitcoin could reach $300,000, based on the assumption that it will eventually represent half the value of all the gold outstanding. In an interview, van Eck stated his belief that Bitcoin will continue to reach new all-time highs, driven in part by increasing adoption from individual investors. When questioned about the rationale behind his $300,000 prediction, van Eck explained that he arrived at the figure by positing Bitcoin would capture half of gold’s total market capitalization. He acknowledged that a Bitcoin maximalist might argue for an…

Cybersecurity researchers have uncovered a sophisticated new malware campaign targeting cryptocurrency businesses, attributed to the North Korean hacking group BlueNoroff. The malware, dubbed “Hidden Risk” by researchers at SentinelLabs, specifically targets macOS systems and employs a multi-stage infection process involving decoy PDF documents. According to a recent report from SentinelLabs, the attack begins with phishing emails disseminating fabricated news stories about cryptocurrency trends. These emails contain malicious attachments disguised as legitimate PDF files. When a user downloads and opens the PDF, a separate malware file is surreptitiously downloaded onto their desktop in the background. This file then grants the attackers…

Prominent crypto trader Jordan Fish, known online as Cobie, incinerated 600 million UPONLY tokens, a newly launched Solana-based memecoin, shortly after receiving them. The tokens, representing 60% of UPONLY’s total supply, were gifted to Cobie by an unknown entity. At the time of burning, the tokens were theoretically valued at $17 million. UPONLY, launched on Friday, seemingly referenced Cobie’s former crypto podcast, UpOnly, which he co-hosted with Brian Krogsgard (Ledger). The podcast has been inactive since December 2022, following the collapse of its sponsor, FTX. Cobie’s response to the unsolicited gift was swift and decisive. After initially posting a screenshot…

Tether, the prominent stablecoin issuer, has announced its foray into commodities financing, funding its first crude oil transaction in the Middle East. The October transaction facilitated the shipment of 670,000 barrels of crude oil, valued at approximately $45 million, between a major publicly traded oil company and a leading commodity trader. While Tether declined further comment, this move signals a significant expansion beyond its core cryptocurrency business. “This transaction marks the beginning, as we look to support a broader range of commodities and industries, fostering greater inclusivity and innovation in global finance,” stated Tether CEO Paolo Ardoino. This initiative positions…

The Securities and Exchange Commission’s (SEC) aggressive regulatory approach towards the cryptocurrency industry is expected to come to an abrupt end following Donald Trump’s presidential election victory, according to John Reed Stark, former head of the SEC’s Office of Internet Enforcement. Stark is known for his hostile attitude towards the cryptocurrency market. According to Stark, Only Very Serious Fraud Cases and Existing Cases Will Continue Speaking during an X Spaces event on Thursday, Stark declared the SEC’s “war on crypto” over, anticipating a significant shift in regulatory enforcement under a Trump administration. “The SEC is not going to be bringing…

The Federal Reserve cut interest rates by 25 basis points on Wednesday, lowering the target range for the federal funds rate to 4.50%-4.75%. While the move itself was widely anticipated, analysts are scrutinizing the accompanying statement and the surrounding context for clues about the Fed’s future policy direction. Nick Timiraos, often referred to as the “Fed mouthpiece,” confirmed the expected cut and the unanimity of the decision. However, he also noted minimal changes to the Federal Open Market Committee’s statement, leaving analysts searching for deeper meaning. Much of the post-announcement analysis focused on what the Fed didn’t say. Analyst Smialek…

The FED decided to cut interest rates by 25 basis points. The expectation was also for a 25 basis point cut. The Federal Reserve is taking action to counter ongoing inflationary pressures, cutting interest rates for the first time in four years. After a half-point reduction in September, policymakers have signaled two additional, smaller cuts in 2024, with more anticipated in 2025. Following yesterday’s post-election rally, the S&P 500 is gaining momentum, up 0.6% as investors await the Fed’s latest decision. Meanwhile, the Nasdaq continues its upward trajectory, climbing about 1.3% to another record high. Government bond yields, which initially…

Bitcoin (BTC), the world’s leading cryptocurrency, shattered its all-time high price record for the second time today, briefly reaching $76,466 before settling back slightly to around $76,000 at the time of publication. This surge came just an hour before the Federal Reserve’s highly anticipated interest rate decision, where a 25 basis point cut is widely expected. The record-breaking rally occurs amidst a backdrop of uncertainty surrounding the economic policies of newly elected US President Donald Trump. Trump’s proposed measures, including immigration reductions and new import tariffs, are anticipated by some to fuel inflationary pressures. This potential inflationary environment has led…

Changpeng Zhao (CZ), the billionaire founder of cryptocurrency exchange Binance, received a rockstar’s welcome at Dubai’s Coca-Cola Arena recently, with cheers of “the king is back!” echoing through the venue. This triumphant return follows a four-month prison sentence in the US after a plea deal with the Department of Justice. Speaking to Bloomberg a day before Donald Trump’s surprising presidential victory sent crypto prices (and CZ’s net worth) soaring, Zhao reflected on his time behind bars and his unexpected separation from Binance. Zhao, whose estimated net worth jumped to almost $53 billion following Trump’s win, stated that he has no…