Forex Signals Brief January 23: Can Pres. Trump Reignite the USD and BTC Rally Later Today?

Posted on January 23, 2025January 23, 2025 by Skerdian Meta

Today US President Donald Trump will speak at the World Economic Forum, which might be appealing to the crypto and forex markets.

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TRUMP Token Steals DOGE’s Spark

Posted on January 23, 2025 by Olumide Adesina

The DOGE is still the Department of Government Efficiency, but the iconic Doge meme imagery shared with Dogecoin is no longer present on the DOGE agency website, and the original meme coin is currently in a bearish run.

The pioneer meme coin was trading at $0.431 before the TRUMP token introduction but has fallen below the $0.35 support line. Dogecoin’s growth has been propelled by its association with Musk, rekindled in recent months as the richest man in the world talking about the coin while endorsing Trump during the campaign trail.

The price would need to bounce around the level at $0.35 to boost buyers’ sentiments; if it did not, it might move toward the support line at $0.28. The fact that the RSI has been rising for several months, if not years, is another encouraging factor.

President Trump officially announced plans for the Department of Government Efficiency following his election victory in November. However, selling pressure took an affirmative shape after Trump launched his meme coin.

The resignation of Gary Gensler and the appointment of pro-crypto acting chairman Mark Uyeda are part of the significant leadership changes at the US Securities and Exchange Commission (SEC).

Uyeda’s arrival has sparked optimism for a more welcoming attitude toward novel crypto products, such as suggested meme coin exchange-traded funds (ETFs).

A special challenge for the regulatory body is the TRUMP meme coin in these filings, which raises concerns about the SEC’s approach to a product associated with the president’s meme coin.

U.S Lawmaker Seeks Probe On TRUMP Tokens

Posted on January 23, 2025 by Olumide Adesina

A Democratic lawmaker demanded that the US House Committee on Oversight and Government Reform investigate whether President Donald Trump’s cryptocurrency endeavors violate his presidential responsibilities.

Representative Gerald Connolly of Virginia stated in a Jan. 21 statement that Trump might already be profiting from his World Liberty Financial (WLF) platform and the Official Trump (TRUMP) meme-coin, possibly violating moral principles and endangering national security.

The Securities and Exchange Commission has accused foreign businessman Justin Sun, the founder of Tron, of securities fraud, making Trump’s WLF “particularly troubling,” according to Connolly.

He went on to say that financial “entanglements” such as this one give rise to “serious national security concerns” regarding the possibility of foreign influence on US policy

Sun has invested $75 million in the company by purchasing World Liberty’s namesake token. Connolly also stated that such helped the Trump family’s business surpass its self-imposed revenue threshold, “which could begin funneling cash directly to President Trump.”.

“It would be a sign to the American people that the Oversight Committee is incapable or unwilling to enforce the standards it claims to uphold if such practices continued unchecked,” Connolly stated.

Ethics experts expressed concern that Trump might have “cashed in” on his presidency after his team controversially introduced the TRUMP meme-coin two days before his inauguration. When questioned about the TRUMP token launch in January, Trump acknowledged that he didn’t know much about it.

Forex Signals Brief January 22: Trump and WEF Converge on AI, Oracle Stock Surges 7%

Posted on January 22, 2025January 21, 2025 by Skerdian Meta

Yesterday was the first day of Donald Trump in Office, and the volatility remained elevated, with risk assets resuming the surge after a retreat in the morning.

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Crypto Influencers Face Heat Over Fake U.S. Treasury XRP Wallet

Posted on January 22, 2025January 22, 2025 by Olumide Adesina

Crypto influencers face backlash for spreading news on a U. S. Treasury XRP wallet that turned out to be fraudulent. The fictitious U.S. Treasury wallet is linked to prominent organizations such as JPMorgan and Bank of America.

Several prominent influencer accounts started sharing content about a Treasury XRP wallet. The story quickly gained popularity on X and spread due to reposts on social media. According to a recent on-chain analysis using XRPSCAN, the wallet’s location is in the Philippines.

People’s confidence that it could be a reliable source connected to the US Treasury was further strengthened as the wallet address “rfHhX6hA54LBqA3j7r7EnCs6qyaRK2Lyfq” is also KYC verified,

Brett (@Brett_Crypto_X), a cryptocurrency analyst on X, recently proposed that there is a 40% chance that XRP will become a national reserve. This conjecture comes after discussions concerning the role of cryptocurrencies in the U.S. financial system, with XRP being mentioned prominently in prominent circles.

Many people in the crypto community are now expressing their worries. Zach Rynes, Chainlink’s community coordinator, attacked so-called “crypto-influencers” for disseminating false information throughout the XRP community.

The use of scam techniques is also growing; on sites like X, scammers are manipulating deceived users through phony accounts and phishing schemes.

Several well-known accounts, including Lenovo India and Yahoo News UK, have recently had their handles stolen to advertise scam tokens, resulting in losses of hundreds of thousands of dollars.

More advanced phishing schemes, such as those imitating Zoom domains, have stolen wallet credentials and private keys by taking advantage of blockchain’s technical flaws and trust, which makes users even more cautious.

The ripple-based token remains an attractive candidate for reserve status because of its concept and technology. Scalability, low transaction costs, and cross-border payment efficiency meet the requirements of a modernized financial system. Ripple has also built a big worldwide network with partners from other countries to enable smooth payments.

President Trump Pardons Ross Ulbricht

Posted on January 22, 2025 by Olumide Adesina

Ross Ulbricht, the founder of Silk Road, was fully pardoned by President Donald Trump on Tuesday. According to prosecutors, at least six people died as a result of the notorious dark web marketplace, which acted as a worldwide center for illegal drug sales.

Ulbricht, 40, has been incarcerated without the possibility of parole since 2015 after being found guilty in federal court of seven charges, including conspiracy to commit computer hacking and drug distribution.

“I just called Ross William Ulbricht’s mother to let her know that it was my pleasure to have just signed a full and unconditional pardon of her son, Ross,” Trump wrote in a post to Truth Social, in recognition of her and the Libertarian Movement, which provided me with such strong support.

The Silk Road, a marketplace that operated between 2011 and 2013, allowed users to buy and sell a variety of illegal goods, including heroin and other unapproved drugs.

Federal prosecutors claim that more than $200 million in sales were made possible by the platform.

Silk Road was one of the first widespread uses of cryptocurrencies, operating as a worldwide drug bazaar at its height and conducting most of its transactions in Bitcoin. The anonymity provided by Bitcoin, according to prosecutors, was crucial in enabling Silk Road vendors to conceal their identities.

Trump linked the federal prosecutors in Ulbricht’s case to his recent federal and state prosecutions when he called them “scum” in his pardon announcement on Tuesday. He received two life sentences in addition to 40 years. “Absurd!” Trump went on.

Forex Signals Brief January 21: USD Weakness and Crypto Volatility As Trump Re-Enters White House, New High in BTC

Posted on January 21, 2025January 21, 2025 by Skerdian Meta

Yesterday the USD tumbled and BTC slopped below$100K ahead of Trump’s inauguration, but while Bitcoin reversed and made a new record high, the Dollar remained at the lows.

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Trump’s Token Sinks Doge, Pepe, Fartcoin, Floki, Dogwifhat

Posted on January 21, 2025 by Olumide Adesina

Trump’s token is the key reason the meme market is ugly. Most major meme coins have been down since the TRUMP token introduction.

DOGE has dropped more than 15 percent, from its monthly high and struggles at 36 cents.

Other noteworthy meme coins have also experienced a more severe decline today, with Fartcoin (FARTCOIN) dropping 19 percent after soaring to an all-time high price on Sunday, Dogwifhat (WIF) down 12 percent, Floki (FLOKI) down 10 percent, and Pepe (PEPE) down 9%.

The price of TRUMP has dropped 33 percent today, to around $35, and has maintained a bearish run since the unexpected release of an official Melania Trump token linked to Donald’s wife on Sunday.

President Donald Trump’s token just before his inauguration on Monday raises new questions about conflict of interest. Trump has promised to give his kids control over his assets, however, the cryptocurrency asset caused special worry because it can easily draw billions of dollars in speculative capital with little transparency.

The businesses that created the “meme coins” for First Lady Melania Trump, $TRUMP and $MELANIA, claimed an “expression of support” rather than securities or investments.

Trump has introduced several products, including sneakers, a Bible, and non-fungible tokens bearing his name.

According to industry experts and ethics advisors, this investment is unique since Trump’s administration will regulate an industry in which Trump has a direct interest and where any value is arguably linked to his presidency.

Eighty percent of the tokens are owned by the companies that created the Trump token, CIC Digital LLC, an affiliate of the Trump Organization, and Fight Fight Fight LLC, which is also co-owned by CIC Digital. This means businesses associated with Trump could have made at least $6 billion in cryptocurrency over the weekend.

Forex Signals Brief January 20: Will SEC Chair Replacement and Trump Presidency Extend Crypto and XRP Rally?

Posted on January 20, 2025January 20, 2025 by Skerdian Meta

This week the Bank of Japan is expected to cut interest rates, while Donald Trump will take office today, which should be a positive factor for cryptos, with BTC already above $105K and XRP above $3, following last week’s surge.

Crypto holders will be following Donald Trump's inauguration today — Crypto holders will be following Donald Trump’s inauguration today

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Bitcoin, Ethereum, XRP, Solana Sink, 413,029 Leveraged Traders Lose $1.2 billion

Posted on January 20, 2025January 20, 2025 by Olumide Adesina

Bitcoin suffered heavy losses in Monday’s trading session. The top cryptocurrency momentarily fell near $100,000, a 4–5% decrease over 24 hours. According to Binance data, ADA and DOGE experienced double-digit losses, while ETH SOL and BNB turned the crypto space into the Red Sea.

Coinglass data showed 413,029 traders were liquidated for the day, the total liquidations come in at $1.2 billion. The largest single liquidation order happened on Binance – BTCUSDT valued at $15.24 million.

The BTC/USD pair saw a significant selloff at the start of the week, initially encountering resistance in the $102.5K range. After breaking through the crucial 100.5K level, this downward pressure led to a deeper retracement and briefly near the psychological $100k threshold. The crypto community is alarmed by this sharp drop, which increased concerns about sustained bearish momentum.

The TRUMP coin, the most-traded digital asset on Binance over the weekend, reportedly lost liquidity to the MELANIA token and surged to$13. Some analysts believe that the wild trading in TRUMP and MELANIA coins is a sign of the bull market’s FOMO phase and may cause a higher correction in Bitcoin.

Trump’s memecoin launch is seen by many analysts and executives in the crypto industry as a sign that the sector will grow significantly under the next president. The launch of the meme coin has been described by critics as a political “grift” as many other celebrity meme coins will probably see a sharp decline in value.