Market report for traders
🔮 BTC, ETH, and Altcoins
Over the last 7 days, Bitcoin ends at AU$147,543 moving +0.45% at the time of writing. Meanwhile, Ethereum ends at AU$2,812 moving +1.73% week-on-week. On the Altcoin side, Solana -1.37%, Dogecoin -2.41%, and XRP -0.53% change.
🗞 What’s happening in the news?
🪙 Dinner for memecoin whales puts Trump in the impeachment spotlight
Donald Trump’s Official TRUMP memecoin jumped over 50% after organisers unveiled an intimate dinner for the top 220 wallets at the President’s D.C. golf club.
“When the sitting president of the United States is selling access for what are effectively payments directly to him. There is no question that that rises to the level of an impeachable offence,” Senator Ossoff said during a town hall in the state of Georgia.
Legal experts warn that Trump may now have a “personal pecuniary benefit” tied to policy decisions, creating a conflict of interest.
💸 Stripe begins testing new stablecoin product after Bridge acquisition
Stripe has opened private testing for a new US dollar stablecoin product following its acquisition of Bridge, a stablecoin payments network founded in 2022. Confirmed by CEO Patrick Collison on X, the project targets businesses outside the US, UK, and Europe. Stripe, which began rebuilding its crypto team in 2021, first integrated Bitcoin back in 2014. With stablecoins gaining traction worldwide and a market cap of AU$371.1 billion, Collison says this is a product they’ve “wanted to build for around a decade.”\
🔥 Hester Peirce says US crypto rules feel like ‘floor is lava’ in the dark
At the SEC’s “Know Your Custodian” roundtable on the 25th of April, Hester Peirce, the SEC Commissioner and head of the crypto task force, criticised the regulatory environment for crypto, describing it as a confusing game where firms must jump between poorly defined rules without clear guidance. She said it’s time to “turn on the lights and build some walkways over the lava pit.” Fellow Commissioner Mark Uyeda echoed her concerns, while new SEC Chair Paul Atkins promised to develop a “fit-for-purpose framework” to support blockchain innovation and market stability in the US.
📖 What we’ve been reading
Trump-backed World Liberty Financial partners with Pakistan Crypto Council
The Trump-backed World Liberty Financial has signed a letter of intent to assist Pakistan with DeFi, stablecoin and real-world asset tokenization innovation in the country.
El Salvador adds Bitcoin, but is complying with IMF deal — Director
The IMF’s non-accumulation agreement may leave room for Bitcoin accumulation through non-governmental entities, industry watchers told Cointelegraph.
DeFi Development seeks $1B to boost Solana investments, expand treasury
DeFi Development Corp is seeking to raise more capital for its Solana treasury and operational expenses.
*Disclaimer: The information provided is for educational purposes and does not constitute financial product advice. You should obtain independent advice from an Australian financial services licensee before making any financial decisions.*
