Category: Crypto market

U.S. Government Pushes Retirement Funds to Embrace Bitcoin, Gold, Private Equity

Posted on by Olumide Adesina

Trump is preparing to sign an executive order that would authorize the U.S. retirement market to invest in alternative assets such as private equity, gold, and Bitcoin. It is expected that this move will fundamentally change how Americans manage their retirement funds by opening new investment opportunities beyond the traditional stock and bond markets.

Trump is expected to sign the executive order this week, which will instruct regulators to examine the challenges faced by professionally managed funds when offering alternative investments to 401(k) participants. This included a wide range of asset classes, including metals, digital assets, and funds focused on infrastructure transactions, private lending, and corporate acquisitions.

The order aims to allow investors to diversify their portfolios by expanding the choices available to retirement savers. Among the included alternative assets are gold, often seen as a haven during economic uncertainty, and cryptocurrencies, known for their volatility and potential for high returns.

Private equity, which usually invests in privately held companies, also offers the possibility of higher rewards but comes with increased risks.

If these alternative investments are incorporated into retirement plans, investors could access a broader array of investment options. However, the initiative is likely to receive both praise and criticism. Supporters argue it will provide investors with more choices and improve their chances of earning profits.

Critics, on the other hand, may raise concerns about the risks associated with these investments, especially the lack of liquidity in private equity and the volatility of cryptocurrencies.

U.S Banks Get Green Light for Crypto Custody Sparks Bitcoin, XRP Boom

Posted on by Olumide Adesina

The Office of the Comptroller of the Currency (OCC), the Federal Reserve, and the Federal Deposit Insurance Corporation (FDIC) have all approved US banks to provide crypto custody services.

 

America’s top banking regulators have issued unified guidance defining “safekeeping” as the act of holding digital assets on behalf of customers, with or without fiduciary responsibility.

This regulatory alignment officially authorizes the safekeeping of digital assets, marking a significant milestone for the cryptocurrency industry, especially for Bitcoin and XRP. With this clarity, it is a major step toward integrating digital assets into traditional finance and legitimizing them, allowing banks to offer unambiguous, secure, and regulated storage for both small and large clients, including Bitcoin.

This regulatory progress is particularly notable for XRP. The purpose of the XRP Ledger (XRPL) was for institutional use, not speculation. Its architecture and design reflect serious financial applications.

The XRPL is technically ready for the custody role that regulators have now approved, thanks to its native support for tokenization, transaction finality within 3 to 5 seconds, and the completion of over 70 million ledgers.

XRP is particularly well-suited to meet custodianship standards due to its speed, scalability, and reliability—qualities that financial institutions require in a compliant and scalable custody framework. BNY Mellon’s custody platform is integrating Ripple’s US dollar-backed stablecoin, RLUSD. As one of the oldest and most reputable banks in the world, BNY Mellon’s involvement adds significant legitimacy to this project.

Gold Melts Under Sun after Trump Dismisses Fed Chief Oust

Posted on by Olumide Adesina

Gold prices fell Thursday amid some improvement in risk appetite after U.S. President Donald Trump downplayed fears that he would prematurely fire Fed Chair Jerome Powell. Trump on Wednesday said it was “highly unlikely” he would fire Fed Chair Powell; however, it remained a possibility if there was evidence of fraud in the Fed’s ongoing renovation project.

Concerns over Powell’s firing were fueled by Trump ramping up his attacks on the Fed Chair, and several members of Trump’s Republican allies were also seen calling for Powell’s immediate removal. Trump claimed that Powell has been too late in cutting U.S. interest rates, demanding that he do so immediately to prevent economic damage.

Powell and several Fed policymakers, on the other hand, have signaled that interest rates will remain unchanged until the inflationary impact of Trump’s tariffs becomes clear.

Trump’s downplaying of his crusade against Powell helped marginally improve market sentiment, which in turn sapped some near-term demand for gold and boosted U.S. equities.

Gold prices gained around 28% so far this year, with the global trade war, geopolitical risks, and central bank buying being the key drivers of the precious metal’s rally.

BlackRock’s Spot Ethereum ETF Booms as ETH Price Closes in on $3.5K

Posted on by Olumide Adesina

A record $726 million has been invested in Ethereum spot ETFs, mostly by BlackRock, as the price of ETH approaches $3,500 due to growing institutional interest.  Corporate treasuries have added more than 600,000 Ethereum to their holdings over the past month, indicating increasing confidence in the asset’s long-term value.

Strong market conviction is shown by whale wallets actively buying ETH above $3,450, with recent individual purchases exceeding $38 million. Spot ETFs experienced a record $726 million inflow led by BlackRock, supported by corporate treasury accumulation and whale buying as Ethereum nears $3,500.

The unprecedented $726 million daily net inflow into Ethereum spot ETFs in the US has surpassed the previous high of $428 million set in December 2024. This rise highlights growing institutional appetite for ETH exposure as Ethereum approaches its highest prices since early 2024. With $499 million in inflows, BlackRock’s Ethereum ETF (ETHA) was the top performer, followed by Fidelity’s FETH with $113 million.

These ETFs now hold over 5 million ETH combined, representing more than 4% of the total circulating supply. The $6.48 billion in net inflows US spot Ether ETFs have received since their July 2024 launch reflect increasing confidence in Ethereum as a strategic asset.

Ripple (XRP) runs faster than Light, Breaks all time high

Posted on by Olumide Adesina

XRP has now reached a new all-time high (ATH) of $3.51 after more than six months.

The surge is driven by increased institutional interest in XRP and general market optimism. XRP has also gained strong support from individual investors. As a result, XRP even overtook Tether (USDT) to become the third-largest cryptocurrency globally by market cap, standing at $207 billion.

XRP’s next major target is to break through the $3.80 level. If XRP can maintain this level as support, it might continue to climb, potentially reaching the $4.00 range.

However, a price correction could occur if investors decide to cash out after the altcoin’s ATH. Profit-taking seems likely, especially after such a long wait.

The U.S. House of Representatives has unofficially approved the CLARITY Act, a significant legislative proposal for a structured market framework for digital assets. As a result, major cryptocurrencies are also performing well.

XRP, as one of the leading alternative cryptocurrencies, is nearing a new record high. Notably, the Democratic vote count on CLARITY has exceeded expectations, with 71 Democrats voting “yes,” indicating greater support for the significant cryptocurrency legislation than anticipated.

XRP Surges as Ripple Founder Transfers Millions to Coinbase

Posted on by Olumide Adesina

Chris Larsen, a co-founder of Ripple, transferred over $25 million worth of XRP to Coinbase, sparking considerable interest in the cryptocurrency community.

 

The fact that Larsen transferred more than 106 million XRP to centralized exchanges in 2024 indicates a broader trend that highlights strategic portfolio management during XRP’s market surge. During a period of increased market volatility,

Larsen’s wallet activity shows both cautious liquidity management and confidence in XRP’s long-term value. Investors and analysts are paying attention to Chris Larsen’s recent $26 million XRP transfer to Coinbase. Along with this move, XRP hits a seven-month high, emphasizing the asset’s renewed momentum.

Larsen has transferred approximately 106 million XRP since 2024 to centralized exchanges, indicating this transfer is part of a larger pattern. Larsen remains well-positioned even after these large transfers.

Chris Larsen and other cryptocurrency whales play a key role in shaping market sentiment. Large transfers to exchanges often trigger speculation about potential selling pressure. However, there are several ways to interpret these movements.

They could mean repositioning liquidity for other investments, taking profits after a price rally, or diversifying a portfolio to lower risk. Whale transfers may lead to short-term price swings, based on historical data; however, the overall price trend depends on broader market conditions and demand levels.

Pudgy Penguin (PENGU) Shines in Meme Coin Craze

Posted on by Olumide Adesina

Pudgy Penguin (PENGU) attracted significant interest from traders after rallying by nearly tenfold from its lows of around $0.0037.  The token’s creator shared insights and outlined two main strategies for potential investors, though only one is currently practical.

The video suggests that the “buy the dip” opportunity has passed because the token has already made a substantial move from its bottom. The main focus now is on a possible breakout above the $0.042-$0.045 range. A new rally could begin if PENGU closes above this level with strong volume.

He warned against jumping into the current price because there remains a significant chance of a steep decline, possibly up to 90%. He recommends waiting for a confirmed breakout and a close above $0.045 before entering the market, a safer strategy. This resistance zone has been a major hurdle for PENGU; until broken, the price could go either way. However, a strong breakout might turn this resistance into support and potentially trigger the next upward trend.

The price repeatedly tests the same resistance level, showing a consistent upward trend on the PENGU chart. Bulls have yet to break through despite these efforts. The structure remains intact, and increasing volume suggests growing interest.

The creator advised viewers to be patient and wait for confirmation of genuine strength since a breakout could ignite significant momentum.

PENGU is based on a limited float of 63 billion tokens out of a total cap of 89 billion. An airdrop in December, which distributed tokens to hundreds of thousands of wallets, has left nearly 26% of the tokens locked for community rewards.

Most tokens have yet to be circulated. This scarcity has been used as a marketing tool, as evidenced by the 60% weekly price increase following major exchanges temporarily swapping their avatars for Pudgy Penguins artwork on social media.

SEC Commissioner Explains XRP ETF Delay: Procedural, Not Rejection

Posted on by Olumide Adesina

Commissioner Caroline Crenshaw of the U.S. Securities and Exchange Commission (SEC) responded to ongoing concerns from the cryptocurrency investment community regarding the frequent delays in approving spot XRP exchange-traded funds (ETFs).

Commissioner Crenshaw emphasized that these delays are procedural and do not indicate a firm opposition to such products. She discussed the main reasons behind the SEC’s slow review of spot XRP ETF applications in an interview with The David Lin Report.

Crenshaw explained that the bureaucratic framework in which the agency operates requires thorough analysis rather than quick decisions. She also noted that she had previously warned market participants that the approval process could take some time and that frustration was expected.

Crenshaw reaffirmed that the SEC must follow procedural rules, which naturally extend the time needed to review applications for exchange-traded products, including those involving cryptocurrencies like XRP.

She confirmed that the SEC is actively reviewing a large number of applications for crypto-related ETFs.

These applications include a wide range of filings, not just those based on XRP. She stated that the commission is systematically reviewing many applications, consistent with its tradition of introducing new financial products. Crenshaw added that a pending application should not be interpreted as a rejection.

She also highlighted the importance of conducting a thorough review before granting regulatory approval. Importantly, Commissioner Crenshaw clarified that the ongoing delays should not be seen as an outright rejection of XRP ETF products.

She stressed that the SEC has not yet decided whether to approve or reject these applications. The agency’s formal evaluation process, which accounts for the delays, is intended to ensure that any proposed product meets all regulatory requirements before approval.

Stellar: XLM Gains Steam, within $0.50 Psychological Level

Posted on by Olumide Adesina

Stellar (XLM) has surged by over 75% in 7 days, and the current price is nearing a critical psychological barrier at $0.50. The altcoin traded at $0.54 at publication

Stellar remains in a bullish trend unless it drops below the previous support level. Traders expect the trend to continue when volume shows strong positioning and trendlines align with higher lows. With key support and resistance levels, the weekly chart of XLM displays a bullish structure.

Traders are paying attention to the recent rally, which started at $0.216 and reached $0.516. At around $0.45, XLM may return to the demand zone after a small correction, potentially providing a buying opportunity. Recent technical indicators indicating strong demand include the Chaikin Money Flow (CMF) and the Accumulation/Distribution (A/D) indicator.

XLM is currently showing strong upward divergence, trading well above its key moving averages.

The continuous wave count is supported by the alignment of price action with breakout signals and higher volume. Momentum oscillators display the expected cyclical swings, with stochastic readings bouncing near midline levels. Bullish strength without overbought exhaustion has been confirmed by the RSI’s continued staying above the 50 mark.

The altcoin market is turning decisively bullish, with Ethereum breaking above $3,000 and Bitcoin holding steady above $115,000. When analyzed with Elliott Wave theory, Stellar’s nearly ten-year trend of higher lows suggests more potential for growth. Many investors are already looking beyond XLM for the next affordable Layer 1 poised for a breakout, as momentum hits its peak.

 

House Republicans Undeterred, Reintroduce Crypto Bills Post-Failure

Posted on by Olumide Adesina

The US House of Representatives will attempt again to pass three bills related to cryptocurrencies after a failed vote on Tuesday. The delay was caused by several Republican lawmakers withdrawing support because they wanted to include a ban on central bank digital currencies (CBDCs).

 

The House Speaker Mike Johnson announced plans to push for a procedural vote on Wednesday highlighting the importance of these crypto bills to the House, Senate, and White Hou These bills include the CLARITY Act, a comprehensive bill that addresses the structure of the cryptocurrency market; the Anti-CBDC Surveillance Act, which aims to outlaw CBDCs; and the GENIUS Act, which regulates stablecoins.

Some Republicans believe the GENIUS Act should be amended or combined with the other two bills.

However, Speaker Johnson argued that the bills should be voted on one at a time because he was concerned the Senate might not approve them all together. This effort is part of the Republican-led “Crypto Week” campaign, which strives to pass crypto legislation before Congress’s August recess. Democrats have responded with an “Anti-Crypto Corruption Week” to oppose these bills.

Twelve Republican lawmakers, including House Majority Leader Steve Scalise, voted against considering the bills. Among the dissenters were Tim Burchett, Andy Biggs, Eli Crane, Michael Cloud, Marjorie Taylor Greene, Andy Harris, Anna Paulina Luna, Scott Perry, Victoria Spartz, Chip Roy, Keith Self, and Andrew Clyde.

The House adjourned without further action, although another vote to advance the bills was expected despite the setback.

President Donald Trump issued an executive order that bans the Federal Reserve from establishing a CBDC.

There is disagreement over whether the three bills should be combined into a single package, but Johnson is reportedly negotiating with the Republican holdouts to move the legislation forward. He emphasized that cooperation with the Senate and White House officials is necessary to pass all three bills. On Wednesday, the House will reconvene for a morning debate and other legislative business.

The GENIUS Act faced early obstacles in the Senate as well; however, Caitlin Long, founder and CEO of Custodia Bank, reassured that the legislation’s initial failure is not cause for concern.