USDC issuer Listing on New York Exchange

Posted on April 2, 2025 by Olumide Adesina

The Circle, which issues the USDC stablecoin, plans to publicly offer stocks on the New York Stock Exchange under the ticker “CRCL,” along with a filing to register Form S-1 with the SEC on April 1, 2024. The issuer aims to sell Class-A common stock and has yet to determine the number and price of the shares.

Circle posted a revenue of $1.67 billion in 2024. These earnings represent a 16% increase compared to the previous year, while the issuer experienced a 41.8% loss in net income during 2023.

Circle has paid $ 908 million to Coinbase for exchanging USDC on their platforms since 2024, further reinforcing that Coinbase generated more revenue from USDC than Circle itself.

In his speech, Matthew Sigel noted that the issues regarding costs helped partially explain Circle’s rising revenue; however, there was a decline in both EBITDA and net incoming profits in 2024. 2024.

The high costs partly explain why Circle’s revenue increased, even as its EBITDA- earnings before interest, taxes, depreciation, and amortization- and net income fell in 2024, said Matthew Sigel, head of digital asset research at VanEck.

The filing revealed 99% of Circle’s revenue last year came from its stablecoin reserves. The business generated part of its income by holding yield-bearing Treasury bills.

The firm previously attempted to go public through a Special Purpose Acquisition Company (SPAC) merger in 2021, which it abandoned in December 2022. It made another attempt in January 2024 via a confidential filing with the SEC.

Forex Signals Brief April 1: Euro Inflation and US Manufacturing for Fool’s Day

Posted on April 1, 2025March 31, 2025 by Skerdian Meta

Today we might see some more scattered moves for Fool’s Day, ahead of tariffs tomorrow, with Eurozone inflation and US JOLTS jobs in the meantime.

The US JOLTS jobs are expected to post an decline in February

Continue reading “Forex Signals Brief April 1: Euro Inflation and US Manufacturing for Fool’s Day” →

U.S Government plans to audit Bitcoin Stash

Posted on April 1, 2025 by Olumide Adesina

The US Department of the Treasury and some other federal departments are likely to report their possession of Bitcoin and other crypto assets on April 5, following a recent order by President Trump.

Trump signed an executive order to create a Strategic Bitcoin Reserve and a Digital Asset Stockpile.

Federal organizations are obligated to account for Bitcoin holdings and other crypto assets to the Treasury Secretary within one month of the order as per the presidential decree that came into effect on March 11, 2025.

The Treasury Secretary is also instructed to open two new positions for Bitcoin management. The Strategic Bitcoin Reserve is designed to receive Bitcoin through criminal or civil forfeiture rather than trade Bitcoin and will serve as a “digital Fort Knox” to store value.

Meanwhile, BlackRock CEO Larry Fink said America could lose its global reserve currency status to Bitcoin if issues related to managing debts aren’t fixed.

“If the US doesn’t get its debt under control, if the deficits keep ballooning, America risks losing that position to digital assets like Bitcoin,” said Fink in his annual letter to investors.

Moody’s has publicly scheduled a meeting that lowers the outlook on national American debt to negative following Trump’s unexpected introduction of tariffs and new tax cuts without funds to back them

Ripple: Trump’s Tariffs Squeeze XRP Soul

Posted on April 1, 2025 by Olumide Adesina

XRP struggled at the start of the new month as markets braced for an escalating trade war fueled by new tariffs from President Donald Trump to take effect this week.

The cryptocurrency used to settle and facilitate transactions on Ripple Labs’ payment platform had fallen 3.7% to $ 2.10 over the previous 24 hours

XRP has undergone a significant downturn in recent price activity, with its value decreasing 15% over the past seven days as bears maintain their grip on the market. The coin’s technical indicators present mixed signals; while the RSI has rebounded from oversold territory, Ichimoku Cloud patterns continue to depict a predominantly bearish outlook.

Despite yesterday’s test of the critical $2.05 support level, which pushed in a brief bounce, the momentum remains negative, with short-term EMAs below long-term averages.

The shift from extreme oversold conditions indicates that XRP may be in a consolidation phase before its next major price movement

XRP’s market performance and the lack of positive sentiment following the announcement of the Securities and Exchange Commission (SEC) suing Ripple Labs tell a compelling story.

While the revelation initially triggered a small rally, various factors soon influenced that price action, causing the token to dip below its original level. This scenario illustrates that external forces affecting the crypto market are significantly more pronounced than any singular development in the industry, which appears to be true as of March 31st.

Moreover, XRP is losing its cultural relevance due to its recent performance.

Previously, it was an emblem of the digital assets industry’s defiance against perceived excessive regulatory activity and responded more favorably to positive news. Furthermore, the contrasting price actions following ex-SEC Chair Gary Gensler’s departure and his resignation highlight a gap between unreciprocated expectations and reality at the end of Q1 2025 for the cryptocurrency market

Forex Signals Brief March 31: April 2 Tariffs Set to Shape Stock Markets and Currencies

Posted on March 31, 2025March 31, 2025 by Skerdian Meta

This week markets will be focused on April 2 tariffs, but there will likely be high volatility before and after, as the war continues.

We'll keep an eye on tariff talk for market direction — We’ll keep an eye on tariff talk for market direction

Continue reading “Forex Signals Brief March 31: April 2 Tariffs Set to Shape Stock Markets and Currencies” →

April Ripple Price Prediction: Can This Week’s SEC Meeting Bring XRP ETF, SWIFT Deal?

Posted on March 31, 2025March 31, 2025 by Skerdian Meta

On Thursday SEC will hold a closed meeting, which might propel XRP higher if they finally pass the Ripple case, increasing SWIFT adapting as well.

Ripple Update: Analyst Forecasts Volatility For XRP In Anticipation of SEC Meeting

Continue reading “April Ripple Price Prediction: Can This Week’s SEC Meeting Bring XRP ETF, SWIFT Deal?” →

Ethereum Locked Up, needs Jail Break Run

Posted on March 30, 2025 by Olumide Adesina

The super altcoin experienced a significant bearish breakdown over the weekend, reaching a low of $1,811 on Sunday, its lowest level in three weeks. ETH has dropped more than 57% from its peak in 2024.

The digital asset plunged below the 50-week and 200-week Exponential Moving Averages. A crossover of these two averages will be a death cross, a strong bearish pattern.

ETH price has also plunged below the 61.8% Fibonacci Retracement, commonly known as the golden ratio, at $1,950. The Relative Strength Index (RSI) and the MACD indicators have all pointed downwards. The coin has also formed a bearish flag chart pattern, a popular continuation sign.

The altcoin’s decline is attributed to challenges within its ecosystem and ongoing macroeconomic factors. Specifically, the altcoin faces high selling pressure due to persistent outflows from spot Ethereum ETFs.

Data from SoSoValue indicates that ETH ETFs have recorded net outflows every day this month, except for March 2 and 28. These funds have collectively had a net inflow of only $2.4 billion, bringing their total net assets to $6 billion.

Ethereum ETFs have largely underperformed due to insufficient demand from Wall Street investors. Many of these investors prefer to hold and stake ETH, earning a favorable staking return of about 3%.

The price of ETH has fallen due to the increasing competition from the layer-1 and layer-2 sectors. Most of this competition arises from layer-2 networks like Base and Arbitrum, which are recognized for their higher transaction speeds and lower costs.

Ethereum also faces heightened competition from layer-1 networks such as Sui, Solana, and BNB Chain. These elements contribute to analysts’ warnings that the ETH price could decline further. For instance, analysts at Standard Chartered have reduced their target by 60% to $4,000

Brazilian Government considers Bitcoin adoption

Posted on March 30, 2025 by Olumide Adesina

The Brazilian president’s administration had an important official who stated that a carefully considered future Bitcoin strategic reserve will be “determinant for our prosperity” and “in the interest of the public. ” Guerra, in turn, Alckmin, made these comments as a delegate of the executive branch at a Congress commemoration.

He mentioned that it is a matter of public concern and vital for the nation to “systematically examine the creation of a sovereign Bitcoin reserve. ”

According to local media Poder 360, Guerra described Bitcoin as “ digital gold, the gold of the internet. It is wealth that can be transferred from one part of the world to another with ease and is an exceptional method of storing the output of our hard work.”

This statement emphasizes the Brazilian government’s interest in the global Bitcoin market, especially with the increasing number of countries adopting Bitcoin.

A few moments earlier, Guerra commented on the paradoxical stance of a government that has invested funds in promoting cryptocurrencies like Bitcoin while simultaneously seeking to control their trade.

He was responding to Deputy Eros Biondini (PL-MG), who previously proposed legislation recommending the creation of a so-called ‘Strategic Sovereign Bitcoin Reserve’ (Reserve de Borg).

This proposition would require the state to purchase Bitcoin until it reached a 5 percent cap of the country’s share of international reserves, the responsibility for custodianship resting with the Brazilian Central Bank, which controls these funds using sophisticated supervised systems and monitors them with blockchain technology.

SEC Lawsuit: Ripple’s XRP Sales To institutional Buyers Still Pending

Posted on March 29, 2025 by Olumide Adesina

The Ripple lawsuit remains active on the SEC’s docket. Fox Business journalist Eleanor Terrett noted that Ripple’s XRP was excluded from the last press statements made by the SEC due to an open procedural issue.

The financial watchdog must ask Judge Analisa Torres to lift the injunction she placed on Ripple’s XRP sales to institutional buyers.

However, with the latest announcement from the SEC, Ripple and others seem to be out of the legal fight. From the SEC’s perspective, the dispute was settled after both sides agreed to withdraw. The court proceedings in which both parties were involved were stayed after they filed a Joint Stipulation of Settlement.

The United States Securities and Exchange Commission appears to have closed some enforcement actions against certain crypto firms, namely Kraken, ConsenSys, and Cumberland DRW LLC. All three firms can settle through joint stipulations, which were filed with prejudice, preventing the SEC from bringing identical charges in the future.

The agency completed its investigations into Crypto.com without taking enforcement actions. Additionally, the agency continues its enforcement pullback by closing cases against Coinbase, Robinhood, Uniswap Labs, and OpenSea.

President Donald Trump Pardons BitMEX Men

Posted on March 29, 2025 by Olumide Adesina

President Donald Trump has allegedly pardoned the three co-founders of BitMEX, the cryptocurrency platform, who had filed guilty pleas to felony charges.

Arthur Hayes, Benjamin Delo, and Samuel Reed were part of a CNBC report that claimed Trump pardoned the three, claiming they were part of a more extensive criminal ecosystem that involved laundering money and violating the Bank Secrecy Act.

Eley and Hayes admitted to pleading guilty in February of 2022 that they ‘willfully failed to establish, implement, and maintain an Anti-Money Laundering program’ for BitMEX, while Reed took a plea some weeks later. No statements from the White House confirm that President Trump pardoned the men.

Trump has made some controversial federal pardons, and it is unclear which one caused the most stir as it included over 1,500 people who had been charged because of the events of January 6th and also included Ross Ulbricht, who had been jailed for over 11 years for the Silk Road.

Sources have indicated that the former CEO of FTX, Sam Bankman-Fried, serving 25 years for misuse of false imprisonment, attempted to seek a pardon from Trump.

Arthur Hayes, Benjamin Delo, Samuel Reed, and Gregory Dwyer were charged in 2020 by US officials for breaching the Bank Secrecy Act. Hayes was the chief business officer of BitMEX at that time.