Bitcoin $100K hopes on ice, SBF’s mysterious jail transfer: Hodler’s Digest, April 19 – 25

Prime Tales of The Week

New SEC chair ‘can be good for Bitcoin’ — Michael Saylor

Michael Saylor, the CEO of high company Bitcoin holder Technique (previously MicroStrategy), expressed help for brand new US Securities and Change Fee (SEC) Chair Paul Atkins.

In an April 23 X put up, Saylor wrote that “SEC Chairman Paul Atkins can be good for Bitcoin.” The assertion follows Atkins’ swearing-in because the thirty fourth chairman of the SEC on April 21.

Blue Macellari, head of digital belongings at funding agency T. Rowe Worth, additionally commented on Atkins in a latest Bloomberg interview. She appeared hopeful and acknowledged a change in how the SEC has acted beneath the brand new administration, significantly with crypto-related data, together with “shut to 6 or seven roundtables” with trade professionals.

Trump memecoin group denies $300K dinner requirement rumors

US President Donald Trump’s memecoin group denied social media rumors that holders of the Official Trump token want a minimum of $300,000 to take part in an upcoming dinner with the president. 

On April 25, the official X account of the Trump memecoin clarified that there isn’t a $300,000 requirement to hitch the memecoin venture’s dinner occasion that includes the US president. 

The rumor stemmed from neighborhood members citing the Solana blockchain explorer exhibiting holders on the token’s contract handle. On the time of writing, the explorer exhibits that the 220th-largest holder has 33,114 TRUMP, price greater than $400,000. Nevertheless, the memecoin group stated the explorer doesn’t replicate their standards. 

Serbia’s Prince Filip says Bitcoin is being stifled, expects enormous rally

Bitcoin’s value trajectory could also be suppressed forward of its upcoming “omega candle” rally, based on Prince Filip Karađorđević, the hereditary prince of Serbia and Yugoslavia.

In an April 24 interview with Merely Bitcoin, Filip stated some market members could also be limiting Bitcoin value motion.

“Persons are capable of management the market to some extent,” he stated. “Perhaps that’s what acted on the 2021 market that suppressed its value from leaping excessive up. We might get that once more in 2025, however there can be one level the place [Bitcoin price] will run away.”

Filip added that Bitcoin stays a basically deflationary asset and stated its worth is “all the time going to rise over time.”

Sam Bankman-Fried moved to a low-security jail — so what?

Sam “SBF” Bankman-Fried, the disgraced co-founder of collapsed cryptocurrency alternate FTX, has been moved to a low-security US federal correctional establishment.

Bankman-Fried was moved to the low-security Terminal Island federal correctional establishment. Beforehand, he was positioned on the Victorville medium-security facility, a notoriously violent place, based on jail advisor agency Elizabeth Franklin-Greatest.

Samuel Goldfaden, a associate on the crypto-centric regulation agency, DLT Legislation instructed Cointelegraph that whereas his earlier facility was violent, Bankman-Fried had been held in a safer a part of the ability,

Riot Platforms secures $100M ‘Bitcoin-backed’ mortgage from Coinbase

Riot Platforms has used its large Bitcoin stockpile as collateral to safe a $100 million credit score facility from Coinbase because the cryptocurrency miner eyes continued growth. 

The $100 million mortgage from Coinbase’s credit score arm marks Riot’s “first Bitcoin-backed facility,” CEO Jason Les stated in an April 23 assertion.

Les stated the credit score line can be used to fund basic company operations and help the corporate’s “strategic development initiatives.”

The credit score line is scheduled to mature in a single yr’s time, however might be prolonged for an extra yr. The mortgage carries an annual curiosity fee of a minimum of 9%, based mostly on the present higher restrict of the federal funds charge plus 4.5%. 

Winners and Losers

On the finish of the week, Bitcoin (BTC) is at $94,738, Ether (ETH) at $1,789 and XRP at $2.18. The overall market cap is at $2.96 trillion, based on CoinMarketCap.

Among the many largest 100 cryptocurrencies, the highest three altcoin gainers of the week are OFFICIAL TRUMP (TRUMP) at 71.78%, Sui (SUI) at 66.94% and Bonk (BONK) at 64.21%.

The highest three altcoin losers of the week are DeXe (DEXE) at 5.58%, UNUS SED LEO (LEO) at 3.12% and PAX Gold (PAXG) at 1.12%. For more information on crypto costs, be certain to learn Cointelegraph’s market evaluation.

Most Memorable Quotations

“2025 has the potential to be blockchain’s ‘ChatGPT’ second for adoption within the monetary and public sector, pushed by regulatory change.”

Citigroup monetary analysts

“We now have seen Bitcoin provide on exchanges dropping resulting from public firm purchases — one thing we anticipate accelerating within the close to future.”

Constancy

“Regardless of rising institutional curiosity, Bitcoin’s long-term resilience gained’t be secured by steadiness sheet optics alone — it relies on actual utilization.”

Fei Chen, founder and CEO of Intellectia AI

“SEC Chairman Paul Atkins can be good for Bitcoin.”

Michael Saylor, co-founder and government chairman at Technique

“Our mission is straightforward: to develop into essentially the most profitable firm in Bitcoin, essentially the most helpful monetary alternative of our time. We’re not right here to beat the market, we’re right here to construct a brand new one.”

Jack Mallers, founder and CEO of Strike

“This backdrop favors Bitcoin because the ‘cleanest shirt within the soiled laundry.’”

Bitfinex analysts

Prime Prediction of The Week

Bitcoin spikes to 7-week highs as analyst doubts possibilities of $100K rebound

Bitcoin headed into key resistance after the April 25 Wall Avenue open as doubts over the BTC value breakout continued.

Keith Alan, cofounder of buying and selling useful resource Materials Indicators, doubted whether or not BTC/USD might maintain a visit above $95,000.

Alan famous declining quantity as value moved increased, repeated wicks under the yearly open and a “down” sign on certainly one of Materials Indicators’ proprietary buying and selling instruments.

“For me, a pump above $95k would invalidate the brand new sign, however I’d in all probability take into account such a transfer to be a brief squeeze until we have now a catalyst with some substance behind it,” he summarized.

Prime FUD of The Week

North Korean hackers arrange 3 shell firms to rip-off crypto devs

A subgroup of the North Korea-linked hacker group Lazarus arrange three shell firms, two in the US, to ship malware to unsuspecting customers.

The three sham crypto consulting corporations — BlockNovas, Angeloper Company and SoftGlide — are being utilized by Contagious Interview, a sub-group of Lazarus, to distribute malware via pretend job interviews, Silent Push menace analysts stated in an April 24 report.

Silent Push senior menace analyst Zach Edwards stated in an April 24 assertion to X that two shell firms are registered as reputable companies within the US.

“These web sites and an enormous community of accounts on hiring / recruiting web sites are getting used to trick folks into making use of for jobs,” he stated.

DeFi platform KiloEx to compensate customers impacted by $7.5M hack

Decentralized alternate KiloEx stated it is going to compensate merchants and stakers damage by a $7.5 million exploit that quickly shut down the platform earlier in April.

In an April 24 announcement, KiloEx stated merchants who had positions open whereas the platform was suspended would get full compensation if their losses elevated or income decreased. The platform stated it might pay the distinction. 

KiloEx urged merchants to shut their positions instantly as soon as the platform resumes operations, as delaying might have an effect on their revenue and losses, which can then impression the compensation quantity. 

“Please shut your place as quickly as doable after the platform resumes. Compensation can be calculated based mostly on the platform’s resume time,” KiloEx said. 

Prosecutors search over 6 years jail for Mango Markets exploiter

US federal prosecutors have requested a district choose to condemn Avraham “Avi” Eisenberg, the crypto person convicted of the $110 million exploit of the decentralized alternate Mango Markets in 2022, to a minimum of six and a half years behind bars.

Forward of Eisenberg’s Could 1 sentencing listening to, US prosecutors are petitioning US District Decide Arun Subramanian for Eisenberg to face between 78 and 97 months in jail, based on an April 22 submitting in a New York district courtroom.

Prosecutors argue it’s an applicable sentence for Eisenberg’s April 2024 conviction for committing wire fraud, commodities fraud and commodities manipulation in reference to the Mango Markets exploit and separate expenses that he possessed baby pornography.

“This sentence is critical to, amongst different issues, appropriately replicate the gravity of the defendant’s crimes, promote respect for the regulation, deter the defendant from future felony exercise, and shield the general public,” the prosecutors stated.

Prime Journal Tales of The Week

Ethereum is destroying the competitors within the $16.1T TradFi tokenization race

Ethereum is miles forward within the race to develop into the worldwide settlement layer for Tradfi. However good guys end final.

Pokémon on Sui rumors, Polymarket bets on Filipino Pope: Asia Categorical

Sui blockchain gaming agency highlighted in Pokémon’s app replace, Filipino Pope blessed on Polymarket, Korean software program developer’s alleged Bitcoin slush fund, and extra.

Crypto AI tokens surge 34%, why ChatGPT is such a kiss-ass: AI Eye

The crypto AI sector grew by greater than one-third up to now two weeks, robotic butlers are right here, and the way ChatGPT might save your life.

Subscribe

Essentially the most participating reads in blockchain. Delivered as soon as a
week.

Editorial Workers

Cointelegraph Journal writers and reporters contributed to this text.