The stablecoin issuer faces pressure after a stock downgrade and Drift Protocol exploit fallout, raising concerns over USDC exposure, crypto regulation and market risk. Shares of stablecoin issuer Circle Internet Group fell sharply Thursday following a Wall Street downgrade and reports tied to a legal probe connected to a recent crypto exploit. Circle’s stock price closed near session lows in Nasdaq trading, falling 9.9% to $85.10. The decline adds to a broader slide in the company’s shares, which are down nearly 24% over the past month and about 43% over the past six months, reflecting continued volatility after Circle’s high-profile public debut last year. Read more
A rare signal from an ETH price indicator suggests Ether is undervalued, while demand in spot and futures markets hints at a rally to $2,500. Ether (ETH) may be on the path to retesting $2,500 if the current rally above $2,150 and the bullish spot and futures market volumes pushing prices higher are sustained. Ether is also supported by a key macro indicator that places the altcoin in a rare undervaluation zone not seen since 2022. The data points to fading selling pressure and the early stages of an accumulation process for Ether. Ether’s daily chart shows bulls leading the charge after a 6.33% rally pushed the price above the $2,150 resistance. ETH now eyes a retest of its March highs near $2,385, with further upside toward the $2,475–$2,635 fair-value gap acting as a price magnet for bulls. Read more
With a potential scheduling conflict, several senators want to know if the president plans to attend a luncheon for memecoin holders in Florida or just seeking to generate fees. Three US senators have reportedly asked one of the people behind US President Donald Trump’s memecoin whether the president intends to “dangle access” to himself at a luncheon event, given he is already planning to attend the White House Correspondents’ Association Dinner the same day. According to a Thursday Politico report, Senators Elizabeth Warren, Richard Blumenthal, and Adam Schiff sent a letter to Bill Zanker, the individual behind the launch of the memecoin Official Trump (TRUMP). The lawmakers questioned whether Trump had been leveraging his appearance at a luncheon event scheduled for April 25, which the memecoin project announced in March. “[O]rganizers are promoting a conference by dangling access to President Trump to potential attendees (and in doing so, are encouraging purchases of his meme coin that will generate tran...
CoreWeave’s financing highlights Wall Street’s shift away from volatile, hardware-backed crypto lending toward cash-flow-driven AI infrastructure, according to TheEnergyMag. CoreWeave’s recent $8.5 billion AI-backed loan highlights a major transition in how Wall Street finances digital infrastructure, marking a shift from “MinerFi” to “ComputeFi,” according to TheEnergyMag. In its latest Miner Weekly newsletter, TheEnergyMag examined CoreWeave’s multibillion-dollar raise from a group of banks and investors, backed by Mark Zuckerberg’s Meta Platforms. As Bloomberg reported, the financing underscores how companies are finding new ways to fund data center construction and expand GPU capacity. Although CoreWeave has pivoted away from the digital asset sector toward AI-focused data center compute, the move offers a broader lesson on the shortcomings of Bitcoin (BTC) mining finance. Read more
With market pricing data currently monopolized by a few players, Pyth seeks to democratize access with a pay-on-demand model beginning with seven big-name providers. Pyth Network, a blockchain data oracle provider, is launching a platform for financial institutions to publish and monetize their market data across blockchain networks. The Pyth Data Marketplace will initially support datasets for spot foreign currency exchange markets (FX), precious metals and crude oil swaps, while allowing publishers to retain “full control” over the data they share, according to Thursday’s announcement. Seven new institutional data providers will publish price feeds on the marketplace at launch, the announcement said. Read more
Bitcoin whales sold $270 million in BTC on Sunday, but the steady absorption of supply by traders should help bulls maintain their hold on the market momentum. Data shows Bitcoin (BTC) investors who had held their positions for over seven years took profit last week by selling $271 million in BTC. A similar wave of “OG whale” selling in January coincided with a more fragile market that lacked buyer demand, triggering a sharp dip in the BTC price. Current onchain data reflects a much stronger market where BTC supply absorption and reduced selling may allow Bitcoin to hold its place in the $70,000-$72,000 range. Data from Capriole Investments shows that the Bitcoin “OG whale spent value” moved roughly $271 million on Sunday. That marks the largest surge in activity for this cohort since Jan. 10, when a $280 million outflow spike preceded a 13% correction to $78,700 from $90,000 within two weeks. Read more