Day: April 1, 2025

Bitcoin traders are overstating the impact of the US-led tariff war on BTC price

admin

Despite Bitcoin’s 2.2% gains on April 1, BTC (BTC) hasn’t traded above $89,000 since March 7. Even though the recent price weakness is often linked to the escalating US-led global trade war, several factors had already been weighing on investor sentiment long before President Donald Trump announced the tariffs. Some market participants claimed that Strategy’s $5.25 billion worth of Bitcoin purchases since February is the primary reason BTC has held above the $80,000 support. But, regardless of who has been buying, the reality is that Bitcoin was already showing limited…

Bill That Authorizes Texas Comptroller To Invest $250 Million Into Bitcoin Moves To Committee

admin

Today, H.B. 4258, which authorizes the state’s comptroller to invest up to $250 million in bitcoin has been referred to the state’s Delivery of Government Efficiency Committee, which is Texas’ version of the United States federal government’s DOGE. The bill was originally introduced to the Texas House of Representatives on March 11, 2025, and was sponsored by two Democratic Congresspeople — Rep. Ron Reynolds and Mihaela Plesa. Under the proposed legislation, Texas’ comptroller would have the power to invest funds (up to $250 million, as mentioned) from the state’s Economic…

Backpack opens claims process for former FTX EU users

admin

Crypto exchange Backpack has initiated the first phase of the claims process for former FTX users in Europe. According to an April 1 announcement, users will need to create an account on the exchange, submit Know Your Customer information, and connect it to their FTX EU claim account. Backpack has not set a deadline for this phase of the claims process and has yet to provide a timeline for when distributions will begin. Users will face a withdrawal fee of €5 ($5.39) for claims under €2,000 ($2,158) and 0.25% for…

Crypto miner backs US senator’s efforts to incentivize using flared gas

admin

Texas Senator Ted Cruz proposed a bill aimed at incentivizing crypto miners to use flared gas for energy generation in the state. In an April 1 notice, Cruz said he had introduced the Facilitate Lower Atmospheric Released Emissions, or FLARE, Act in the US Senate, aiming to make Texas “the number one place for Bitcoin mining.” Mining advocacy group Digital Power Network supported the bill, and Bitcoin (BTC) miner MARA Holdings endorsed the proposed legislation on X, claiming it would reduce emissions and “unlock stranded energy.” April 1 draft of…

Circle officially files for Initial Public Offering with SEC

admin

Stablecoin issuer Circle Internet Group has filed an S-1 registration statement for an initial public offering in the US, an April 1 filing with the Securities and Exchange Commission shows. The USD Coin (USDC) issuer is planning to list its Class A common stock on the New York Stock Exchange under the symbol “CRCL,” the filing shows. Circle’s prospectus does not detail the number of shares to be offered or what the IPO target price will be. The IPO filing also showed that Circle brought in $1.67 billion in revenue…

Trump-affiliated crypto mining venture mulls IPO — Report

admin

American Bitcoin Corp., a Trump family-backed crypto mining operation, has plans to raise additional capital, including through an initial public offering (IPO), according to an April 1 report by Bloomberg.  On March 31, Hut 8 — a publicly traded Bitcoin (BTC) miner — acquired a majority stake in American Bitcoin (formerly American Data Centers), whose founders include Donald Trump Jr. and Eric Trump.  After the deal announcement, Hut 8 transferred its Bitcoin mining equipment into the newly created entity, which is not yet publicly traded.  While American Bitcoin will focus…

Circle makes IPO filing with SEC as stablecoin regulation gains traction

admin

Key Takeaways Circle has filed for an IPO with SEC to list on NYSE under the ticker CRCL. The IPO comes as Congress advances stablecoin legislation and Trump-backed World Liberty Financial announces plans to launch a stablecoin. Share this article Circle, issuer of the second largest stablecoin USDC, filed for an initial public offering with the SEC today, seeking to list on the New York Stock Exchange under the ticker “CRCL.” This marks the company’s second attempt to go public following a terminated SPAC deal in 2022. The company reported…

Ethereum’s weekly blob fees hit 2025 lows

admin

The Ethereum network’s main source of income from layer-2 (L2) scaling chains — “blob fees” — has sunk to the lowest weekly levels so far this year, according to data from Etherscan.  In the week ending March 30, Ethereum earned only 3.18 Ether (ETH) from blob fees, according to Etherscan, or approximately $6,000 US dollars as of April 1.  This figure marks a 73% drop from the prior week and a more than 95% decline from the week ending March 16, when Ethereum’s income from blob fees exceeded 84 ETH,…

APX Lending gains exemptive relief from Canadian Securities Administration

admin

APX Lending, a crypto-backed loan company, has gained exemptive relief from the Canadian Securities Administration (CSA) to offer crypto-backed loans without requiring traditional dealer registration or prospectus filings. “Over the last 2 years, APX developed a […] regulatory framework in collaboration with the Ontario Securities Commission (OSC) to facilitate this, as no such framework previously existed in Canada,” a spokesperson for APX told Cointelegraph. “This exemption is specific to APX and does not establish a precedent for other companies.” The platform currently supports Bitcoin (BTC) and Ether (ETH) as backing…

Blockchain Association CEO will move to Solana advocacy group

admin

Kristin Smith, CEO of the US-based Blockchain Association, will be leaving the cryptocurrency advocacy group for the recently launched Solana Policy Institute. In an April 1 notice, the Blockchain Association (BA) said Smith would be stepping down from her role as CEO on May 16. According to the association, the soon-to-be former CEO will become president of the Solana Policy Institute on May 19. The association’s notice did not provide an apparent reason for the move to the Solana advocacy organization nor say who would lead the group after Smith’s…