President Trump adds Bitcoin, Ethereum

Posted on March 2, 2025March 2, 2025 by Olumide Adesina

President Trump says Bitcoin and Ethereum “will be at the heart of the Reserve.” He excluded these crypto assets in his earlier announcement.

Trump earlier announced that XRP, Solana (SOL), and Cardano (ADA) would be included in the reserve. Today’s announcement details the executive order he signed directing the Digital Assets Working Group to move forward with this reserve.

Trump stated at the Bitcoin 2024 conference in Nashville, Tennessee, that he would create a “strategic national Bitcoin stockpile.”. “It will be the policy of my Administration — the United States of America — to retain 100 percent of all the Bitcoin the government currently holds or acquires,” Trump informed the audience during his keynote address. “We will retain all of it.
“At least I hope you do well.” The president added “This will effectively function as the central component of the strategic national Bitcoin reserve. “

The president’s wording on a Bitcoin strategic stockpile changed following his executive order on January 23 ordering the group to create a “digital asset stockpile,” which infuriated Bitcoin maximalists.

ADA: Cardano on Rampage, gains 51% after Trump’s Speech

Posted on March 2, 2025March 2, 2025 by Olumide Adesina

Cardano was on a rampage after the President mentioned the altcoin as part of the U.S. crypto strategic reserve.

The altcoin was up by a whopping 51% for the day. ADA was trading near the $1 market with a market valuation of $34.6 billion. The 8th most valuable crypto asset broke key resistance levels after the U.S. president hinted at XRP, ADA, and SOL as part of the U.S. crypto strategic reserve.

He positioned the initiative as a response to “deceptive assaults” on the cryptocurrency sector, allegedly orchestrated by the Biden administration.

“Establishing a US Crypto Reserve will boost this vital industry, which has suffered from years of deceptive assaults by the Biden Administration. The Executive Order on Digital Assets prompted the Presidential Working Group to progress with a Crypto Strategic Reserve, incorporating XRP, SOL, and ADA. I will ensure that the US becomes the global leader in cryptocurrency.” President Trump stated on Truth Social.

The declaration expands upon Executive Order 14178, signed previously this year, which set up the Presidential Working Group on Digital Asset Markets.

Led by venture capitalist David Sacks, the group was assigned to formulate a national strategy for digital assets, including the possibility of a government-held cryptocurrency reserve.

Although Bitcoin (BTC) was commonly anticipated to be the foundation of any federal digital asset holdings, Trump’s decision to emphasize XRP, SOL, and ADA indicates a more inclusive approach to blockchain adoption.

President Trump dumps Bitcoin, Ethereum for XRP, ADA, Solana

Posted on March 2, 2025March 5, 2025 by Olumide Adesina

President Trump disclosed via his social media handle the creation of a digital Strategic Reserve, with no mention of Bitcoin, or Ethereum.

President Donald Trump announced that XRP, Cardano (ADA), and Solana (SOL) would be added to the US crypto reserve. The announcement follows Trump’s signing of an executive order creating a working group devoted to digital assets.

The president mandated the group to set clear regulations for the crypto industry and assess the possibility of a national digital asset stockpile. Strengthening the US digital asset market is the proposed reserve’s main goal.

Three well-known cryptocurrency assets are highlighted in the plan as essential parts of the suggested reserve structure: Cardano’s ADA, Solana’s SOL, and Ripple’s XRP.

President Trump reportedly intended to make crypto development a national priority in January, establishing a strategic reserve using US-based coins and suggesting a more crypto-friendly SEC chair.

Trump announced last fall that he and his sons were helping to establish a new cryptocurrency business World Liberty Financial. Trump revealed a meme project before his inauguration. Economists, ethics watchdogs, and some industry insiders harshly criticized the personal meme coin, $Trump.

U.S. Government accuses North Korea of Stealing Ethereum

Posted on March 2, 2025March 2, 2025 by Olumide Adesina

The Federal Bureau of Investigation claims that hackers with ties to North Korea committed one of the biggest cryptocurrency thefts in history, stealing about $1.46 billion worth of Ethereum from Bybit.

A group of hackers known to the US government as TraderTraitor and the Lazarus Group were involved in another theft earlier this month that targeted Bybit, one of the world’s biggest cryptocurrency exchanges.

According to the FBI, the hackers steal cryptocurrency “by disseminating cryptocurrency trading applications that were altered to contain malware that facilitates cryptocurrency theft.”.

The FBI in an online public service announcement believed hackers with North Korean support were “in charge of the theft.”.

The FBI stated, “TraderTraitor actors are moving quickly and have converted some of the stolen assets to bitcoin and other virtual assets scattered across thousands of addresses on multiple blockchains.” The enforcement agency projected that further laundering will eventually convert these assets into fiat money.

North Korean state media have not verified the theft or the FBI’s allegation. South Korea’s spy agency estimates that over the last five years, North Korea has stolen over $1 billion worth of crypto assets.

In the face of severe UN sanctions and North Korea’s stringent border closures during the coronavirus pandemic, it represents a unique source of desperately needed foreign currency to support its fragile economy and finance its nuclear program.

Separately, a panel of UN experts stated that it was looking into 58 alleged cyberattacks by North Korea from 2017 to 2023, in which approximately US$3 billion was taken and “allegedly used to finance the country’s development of weapons of mass destruction.”.

Ripple Soldiers Battle XRP Short Sellers

Posted on March 2, 2025 by Olumide Adesina

XRP is trading at about $2.25, following a 12 percent decline in value last week. Price action revealed the asset may initiate a bullish rally if it successfully exits such a move.

XRP is trading in a narrow range on the one-hour chart after a large sell-off, with price action settling close to short-term support at $2.2.

The fact that the remittance token has been trading below $3 for nearly a month suggests a correction phase is still in play. However, a reversal could occur and the market would rally toward important resistance levels if the SEC drops its lawsuit against XRP. According to on-chain data, whales fought short-term holders’ attempts to sell since the recent cryptocurrency market crash.

However, Market action indicates that there isn’t much buying pressure, and a drop in volume affirms market uncertainty.

There has been no test of the short-term resistance at $2.45 and the price has not reached higher highs. If the price breaks above $2.25 with high volume, it may move toward $2.2–$2.4, but if it breaks below $2, it might continue to decline to the $1.8 support line.

The Ripple-based token on the daily chart highlighted a pattern of lower highs and lower lows, which supports a long-term bearish structure. A support line drawn at $2.2 emerged as a critical level, while resistance at $3.5 is still a long way off.

XRP would need to break through resistance levels between $2.6 and $2.8 and set a higher low above $2.2 to recover. If bearish pressure persists, a drop below $2.1 could indicate lower price levels.

Bitcoin Bounces From Low, Appetite Still Weak

Posted on March 2, 2025 by Olumide Adesina

Bitcoin recovered from its overnight low as some investors increased their buying pressure. However, the digital asset appeared shaky after the U.S. dollar in the aftermath of the clash in the White House on Friday.

The leading cryptocurrency was trading above $85.5K on Sunday, up almost 1% on the last day but still down by a fifth of its value on a monthly spectrum.

It was also far below its peak of over $109,000, which was reached in mid-January. Investors are pulling away from riskier assets, such as major cryptocurrencies, due to concerns about inflation spikes, an impending global trade war sparked by tariffs imposed by the Trump administration, and other macroeconomic uncertainties. The Bybit cryptocurrency exchange hacked last Friday for a record $1.4 billion, melted buying appetite.

There has been a significant decline in major digital assets over the past month. Ethereum, the second-largest cryptocurrency by market capitalization, and its rival Solana, the sixth-largest, have dropped 28 and 36 percent, respectively. Additionally, meme coins, which contributed to a spike in value earlier in the year, have seen a significant part of their valuations wiped off.

Bitcoin experienced a weekly loss of 11 percent after falling below the 200-day simple moving average. For the first time since November 10, prices briefly dropped below the $80,000 mark as new concerns regarding the U. S. desire for the U. S. Trade tariffs caused the dollar to rise.

MetaMask integrate Solana and Bitcoin

Posted on March 2, 2025March 3, 2025 by Olumide Adesina

MetaMask is expanding its user base by enabling Solana and Bitcoin support on its wallet.

“MetaMask will allow its users to engage with decentralized applications throughout the Solana ecosystem and purchase, sell, and exchange tokens starting in May,” the company announced.

Additionally, the app will start to support Bitcoin in July or September, enabling MetaMask users to keep the oldest cryptocurrency in the world in their wallets.

MetaMask has gained popularity as a software wallet for trading and storing cryptocurrencies because it supports Ethereum and several chains compatible with EVM, such as Avalanche and Binance Smart Chain.

However, the increasing demand for Runes meme coins on Bitcoin, Ordinals collectibles, and Solana meme coins is causing the cryptocurrency ecosystem to grow in different directions. Last month, Solana boasted nearly twice as many daily active users as the Ethereum ecosystem.

Additionally, as Solana and Bitcoin activity has grown, so has the popularity of wallets that assist network users.

Multi-chain wallet Phantom had 15 million monthly active users in February, a 1,400% increase over its user base two years prior. Coinbase Wallet’s active user base nearly doubled between 2023 and 2024.

Ripple increases RLUSD Mint Capacity

Posted on March 2, 2025March 2, 2025 by Olumide Adesina

Ripple’s Treasury minted 4.5 million RLUSD on the last day of the previous month.

Ripple started minting the RLUSD stablecoin again on February 27 and issued 7.1 million RLUSD tokens following a short hiatus last month.

Ripple made public its January 2025 attestation reports which offered insight into the assets supporting the stablecoin. According to the report, every RLUSD token is fully collateralized, guaranteeing users stability and dependability.

RLUSD saw strong market capitalization growth in January, rising to $130 million. The stablecoin reached $7.4 billion in trading volume on XRPL and ETH (much higher volume than many others) in its first 60 days of operation.

With $7 million more in reserves than the total RLUSD supply of about $130 million, RLUSD is still over-reserved.

Jack McDonald, SVP of Stablecoins at Ripple pointed to a surge in interest from unique channels using RLUSD for tokenized asset on-chain collateralization.

Reece Merrick, Ripple executive, added that many financial institutions are curious about the potential applications of RLUSD for internal treasury payments and cross-border settlement.

BDACS, a South Korean institutional crypto storage provider, has teamed with the enterprise blockchain company to enable institutional custody for XRP and Ripple’s US dollar-backed RLUSD stablecoin.

BDACS will integrate Ripple Custody, the company’s storage service, to safeguard XRP, RLUSD, and other digital assets for South Korean financial institutions. Ripple president Monica Long emphasized the importance of institutional-grade custody given the rise in corporate interest in cryptocurrencies.

In a statement, Long expressed his excitement about Ripple Custody planting another flag in APAC with BDACS for XRP and RLUSD, saying, “South Korea is preparing for a wave of institutional crypto adoption.” Harry Ryoo, CEO of BDACS, commented on the news and stated that his organization is dedicated to offering safe infrastructure for cryptocurrency use by institutions.

“BDACS will help Ripple’s innovative blockchain efforts by offering a safe and dependable custody solution. In the end, this collaboration would allow both businesses to improve and grow the ecosystem of digital assets,” Ryoo stated.

Interestingly, Korean regulators are now working to clarify rules governing companies’ involvement in stablecoins and cryptocurrency assets.

Ripple claims that the partnership complies with the Financial Services Commission’s (FSC) regulatory approval roadmap in South Korea.

The firm clarified: “This partnership will leverage synergies with Busan, Korea’s blockchain regulation-free zone, expand the usability of Ripple’s stablecoin (RLUSD), and support the growth of XRPL developers and its ecosystem.”. “

Ripple’s XRP Bulls March Strongly On March 1

Posted on March 1, 2025March 3, 2025 by Olumide Adesina

Ripple’s XRP turned very grain in the early hours of Saturday after Bitcoin broke the $86K mark. The remittance token is up 8% for the day.

The Ripple token is holding above the $2.18 support level. Price action highlighted XRP bulls will aim to break through the $2.45 resistance to turn this level into support. Should the move be successful, it would signal the start of a possible rally.

Whales have been accumulating a significant amount of XRP, which may indicate the possibility of a price reversal. On-chain data revealed that whale purchases were the only factor that caused XRP to rise.

Whale addresses between 10 million and 100 million XRP added more than 300 million XRP in the past few days, bringing their total to $609 million. These whales locked in profits by reducing their holdings when prices rallied strongly.

XRP’s relative strength index (RSI), a crucial technical indicator, is in the oversold zone. The RSI has fallen to such low levels for the first time in more than six months.

Such declines have historically catalyzed XRP reversals; the most recent instance resulted in a 50 percent rally.

According to the current RSI value, XRP might be oversold, which could lead to a price increase. The probability of a similar result rises because this level has frequently preceded notable price spikes as seen on historical chart patterns. If the current pattern holds, XRP may hit $3 once again.

SEC Cancels Case on MetaMask

Posted on March 1, 2025 by Olumide Adesina

Joseph Lubin, the CEO of Consensys and a co-founder of Ethereum declared that the U.S. Securities and Exchange Commission (SEC) and Consensys have reached a preliminary agreement to drop the securities enforcement case against MetaMask.

The case, focused on MetaMask is anticipated to be officially closed after the financial watchdog approves it.

Lubin took to X to say that he was happy with the resolution and that it was a good step for blockchain software developers, even though Consensys was ready to fight the case to the end.

The regulatory agency has concluded its investigations into OpenSea, Robinhood, Uniswap, and Gemini and withdrawn its lawsuit against Coinbase.

These steps were taken one month after SEC Chair Gary Gensler resigned on January 20. The Commission took a tough stance on regulating cryptocurrencies under Gensler’s direction, asserting that the majority of digital tokens ought to be categorized as securities.

The securities watchdog accused cryptocurrency companies of offering unregistered securities, leading to numerous legal actions against them because of the regulatory stance.

According to Lubin, the SEC stopped its investigation into Ethereum because of the company’s lawsuit against the agency, which sought to keep Ethereum from being the subject of enforcement actions.

“A stronger financial system and internet infrastructure are the goals of every legal and policy victory,” according to Lubin.

Lubin voiced gratitude for the SEC’s new leadership and the agency’s apparent change to a more “pro-innovation” and “pro-investor” position as it looks to the future.

“Throughout the future, we will continue to have close contact with public and private policymakers.” He added. “We can now return to the building in full force. 2025 is expected to be Ethereum and Consensys’ best year to date. The world’s paradigm shift toward greater decentralization is speeding up. “