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Trump Crypto Push Leaves World No Choice but to Embrace Digital Assets: Bitpanda’s Demuth

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In the wake of shifting U.S. policy, the crypto landscape is undergoing a fundamental change — from fast-moving speculative bets to long-term, anchored investments, said Bitpanda CEO Eric Demuth during a fireside chat at Consensus Hong Kong on Wednesday.

Demuth said the 2024 bull run wasn’t a repeat of the retail-fueled 2021 cycle. Instead, it was being driven by what he calls “sticky money” — institutional capital that’s less volatile and more committed.

Vienna-based Bitpanda is one of Europe’s largest crypto exchanges with over 6 million users and offers stocks and previous metals, in addition to digital assets. The platform recently secured regulatory approval from the Financial Conduct Authority (FCA) in the United Kingdom.

Speaking about the impact of U.S. policies under the Trump administration, Demuth argued that the government’s aggressive embrace of crypto is forcing global markets to adapt. “The Trump administration is forcing everybody to do this, it’s not an option anymore, […] it’s mandatory.”

A clear sign of this shift is the booming interest in Bitcoin ETFs, which have ballooned to nearly $58 billion in assets under management in just one year of trading. Demuth believes these vehicles signal a maturing market, where major players are locking in capital for the long term, rather than chasing quick gains.

While altcoins haven’t picked up the same speed of adoption as bitcoin, Demuth believes that will change once U.S. regulation evolves and alternative crypto ETFs gain approval.

He also believes that U.S. banks will be the next wave of adopters.

“[Crypto] has been made one of the pillars of U.S. economic and financial policy, so you have the biggest financial power in the world putting [crypto] on the spotlight which means all the banks now have to either look into it or even offer something,” he said.

He predicts a surge in stablecoin issuances directly from U.S. banks and an uptick in tokenized assets, from government bonds to real estate.

In Europe, Bitpanda continues to focus on navigating the continent’s complex regulatory landscape, holding multiple licenses and positioning itself as a key player in a fragmented market. Demuth said the potential for new customers in Europe is big enough for the company to stay focused on its expansion in that region.

However, the company is expanding its B2B services, he said, licensing its crypto infrastructure to banks in the Middle East as well as Europe. Major financial institutions, including Germany’s Deutsche Bank and France’s largest banking group, are already tapping into Bitpanda’s backend systems.

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CoinDesk 20 Performance Update: NEAR Gains 11.7%, Leading Index Higher Over Weekend

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CoinDesk Indices presents its daily market update, highlighting the performance of leaders and laggards in the CoinDesk 20 Index.

The CoinDesk 20 is currently trading at 2538.74, up 3.0% (+74.8) since 4 p.m. ET on Friday.

Nineteen of 20 assets are trading higher.

9am CoinDesk 20 Update for 2025-04-21: chart

Leaders: NEAR (+11.7%) and APT (+8.7%).

Laggards: BCH (-0.5%) and XRP (+1.9%).

The CoinDesk 20 is a broad-based index traded on multiple platforms in several regions globally.

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Coinbase-Backed Zora to Airdrop Token After a Week of Contentious Promotions

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Onchain social media platform Zora said its ZORA token will go live on April 23, days after it gained viral traction on X after a push from the Base network team.

It outlined two snapshots for the drop in an X post, one covering activity from January 1, 2020, to March 3, 2025, and another from March 3 to April 20, 2025.

Snapshots are the ability to record the state of a blockchain at a specific point in time, often used to reward users in tokens based on their activity on that blockchain over a specific time period.

The Coinbase-backed Zora came into the spotlight last week after a push from Base creator Jesse Pollack on how the platform allowed the creation of “content coins” — or tokens that represented their underlying picture or word phrases in a tradeable form.

Pollack’s amplifications of several Zora-created tokens drew hype and activity to the platform, with user count and token creation setting records late last week. It attracted over 230,000 “new” traders (or wallets that interacted with the platform for the first time) on Sunday, data shows.

(Dune Analytics)

Base’s official X account posted about one such token, called «Base is for everyone,” which sent its market cap soaring from a few thousand to over $17 million within hours.

Blockchain sleuths later found three crypto wallets bought the tokens ahead of the official announcement — netting them a profit of $666,000, as reported.

Crypto exchange Coinbase, which develops and maintains Base, told CoinDesk at the time that is for everyone coin is not the official cryptocurrency of Base, and the layer 2 did not directly sell those.

Announcement of a token following such promotions has sent X users erupted with accusations of insider trading and poor communication.

“So it was literally an airdrop shill to create hype and liquidity for a dump of supply controlled by Coinbase Ventures? Got it,” snarked user @DCBcrypto.

Others, like @KienNguyen_NFT, predicted “Day 1 listing + insiders making 8 figs incoming,” while @blknoiz06 gave a backhanded compliment: “good marketing.”

Pollack has since squashed rumors of the Zora promotions being a marketing campaign, however.

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Strategy Buys $555M of Bitcoin, Increases Total Stash to 538,200 BTC

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Strategy (MSTR) has added 6,556 bitcoin (BTC) to its balance sheet, spending $555.8 million in the process, according to a regulatory filing published on Monday.

The purchase was funded using proceeds from the company’s two at-the-market (ATM) stock offering programs, the filings notes.

The firm, the largest corporate holder of bitcoin, sold 1.76 million shares of its Class A common stock and over 91,000 shares of a preferred stock series — STRK — between April 14 and April 20.

The common stock sale brought in $547.7 million, while the preferred shares added another $7.8 million. The latest acquisition boosts Strategy’s total holdings to 538,200 BTC, purchased at an average price of $67,766 per coin.

The Michael Saylor-led company has spent $36.47 billion on bitcoin to date. Shares of MSTR are up 2.77% in pre-market trading as BTC rose to $87,300.

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