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Dogecoin Gains, XRP Slumps as Trump Warns of ‘Far Larger’ Tariffs

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Risk assets such as bitcoin (BTC), xrp (XRP), solana (SOL) are back in focus as President Donald Trump warned of even more reciprocal tariffs if other countries collude to do «economic harm» to the U.S.

«If the European Union works with Canada in order to do economic harm to the USA,» he wrote in a Truth Social post in early Asian hours Thursday, «large scale Tariffs, far larger than currently planned, will be placed on them both in order to protect the best friend that each of those two countries has ever had!»

«Liberation day in America is coming, soon,» Trump wrote in a separate post. «For years we have been ripped off by virtually every country in the world, both friend and foe. But those days are over — America first!!!»

The post comes days after reports that concerns of tariffs were overblown, and that overall impact would be more measured than expected.

Earlier this month, Trump had imposed 25% tariffs on imports from Canada and Mexico, alongside a 20% levy on Chinese goods, citing national security concerns over immigration and fentanyl trafficking. Now, with the EU and Canada in his crosshairs, markets could be bracing for another jolt.

Tariffs, by their nature, disrupt economic stability — increasing costs for imported goods, stoking inflation, and pressuring central banks like the Federal Reserve to tighten monetary policy.

Such moves could spell trouble for BTC and other tokens in the short term, as the crypto market often moves in tandem with equities, which tend to falter under trade uncertainty. A stronger U.S. dollar, bolstered by tariff-driven capital flows, might further depress BTC prices, as investors flee to safe havens like gold or cash.

Trump’s post dampened a bullish mood in Asian hours, with majors showing a brief sell-off. XRP and SOL fell 2%, ether (ETH) and BNB Chain’s BNB remained little-changed, while dogecoin (DOGE) retracted gains from a 3.5% move higher in the past 24 hours.

SUI shines, analysts remain bullish

Outside of the top ten tokens by market cap, Sui Network’s SUI posted a 7% surge ahead of the Walrus Network, a data availability protocol built on Sui, going live on mainnet later Thursday.

Meanwhile, some say Asian developments could provide a catalyst for bitcoin prices amid U.S. focused headwinds.

«While US regulators begin to cut back on restrictive policies, institutions in Asia have been making waves by releasing new funds, products, and innovations that have been supported by pro-crypto regulations in key jurisdictions,» Jupiter Zheng, partner at HashKey Capital, told CoinDesk in a Telegram message.

«The next leg of the bull market may find its footing in Asia as the center for growth in the industry,» Zheng added.

BTSE’s Jeff Mei had a more optimistic view as of Thursday morning.

«Bitcoin and other cryptocurrencies have recovered over the last few days, even as stock markets dropped in response to US President Trump’s announcement of auto tariffs. This shows that the worst could be over for crypto markets this year, and that we could see an upward trajectory in prices as US inflation fears subside and as we move closer towards rate cuts,» Mei said in a Telegram message.

Traders are eyeing the release of upcoming Personal Consumption Expenditure (PCE) data on March 28, which influences Fed interest rate decisions.

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Terraform Labs to Open Claims Portal for Investors on March 31


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Terraform Labs, the firm behind the collapsed Luna token and the TerraUSD stablecoin, will open a portal on March 31 to allow investors to file claims for crypto losses tied to the company’s downfall and subsequent bankruptcy.

The online system, operated by claims administrator Kroll, is part of the company’s court-supervised wind-down process. Investors have until April 30 at 11:59 p.m. ET to submit claims through claims.terra.money. Late submissions will not be considered, meaning those who miss the deadline forfeit their right to any recovery, according to a Medium post.

Eligible claims must be tied to specific cryptocurrencies listed in the case documents and held during the period surrounding the Terra ecosystem’s collapse. Notably, assets with less than $100 in on-chain liquidity and certain others—like Terra 2.0’s Luna—will not qualify.

Claimants must also submit proof of ownership. The preferred method is read-only API keys from exchanges, which the administrator considers more reliable than screenshots or manually uploaded documents. The post adds that those using manual evidence may face extended review periods or risk their claims being denied altogether.

Once filed, claims will be reviewed and verified. Initial decisions will be shared within 90 days after the deadline and approved claims will be eligible for pro rata distributions once processing concludes.

The Terra ecosystem collapsed in 2022, leading to the largest destruction of wealth in just three days in the cryptocurrency space’s history. LUNA’s market capitalization plunged from over $41 billion to $6 million in that period.
Read more: Terraform Labs, Do Kwon Agree to Pay SEC a Combined $4.5B in Civil Fraud Case

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Bitcoin Miner MARA Starts Massive $2B Stock Sale Plan to Buy More BTC

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Bitcoin mining company MARA Holdings (MARA) is launching a fresh $2 billion stock offering to buy more bitcoin, continuing its plan of buying BTC in the open market through capital raise while sticking to its «Hodl» strategy.

According to a Form 8-K and a new prospectus filed with the U.S. Securities and Exchange Commission (SEC), MARA entered into an at-the-market (ATM) equity program with a group of investment banks including Barclays, BMO Capital Markets, BTIG, Cantor Fitzgerald, and others. The proceeds of the offering, which will see brokers selling shares of the miner from time to time, will be used mainly for the acquisition of bitcoin in the open market.

«We currently intend to use the net proceeds from this offering for general corporate purposes, including the acquisition of bitcoin and for working capital,» MARA said in its prospectus.

This new fresh stock sales plan follows a previous ATM offering that targeted up to $1.5 billion for the miner.

MARA has adopted Michael Saylor’s strategy of raising funds through equity and convertible bond offerings and buying bitcoin in the open market. The miner now holds 46,376 BTC in its treasury, making it the second-largest bitcoin stash among publicly traded companies, behind Strategy’s 506,137 BTC.

The plan to buy bitcoin in the open market was adopted by the miner last year, even though a miner can theoretically mine bitcoin at a discount to the spot price. The industry became challenging after last year’s halving cut mining rewards by half, squeezing profit margins on the back of rising costs. This made buying bitcoin in the open market, alongside mining, a relatively better strategy for the miners.
Read more: Bitcoin Mining Is So Rough a Miner Adopted Michael Saylor’s Successful BTC Strategy

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FTX to Begin $11.4B Creditor Payouts in May After Years-Long Bankruptcy Battle

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FTX, the collapsed cryptocurrency exchange once helmed by Sam Bankman-Fried, plans to begin paying its main creditors at the end of May, Bloomberg reported based on court proceedings in Delaware this week.

The company has gathered $11.4 billion in cash to distribute to thousands of parties affected by its 2022 bankruptcy, with the first payments to major creditors set for May 30.

These include institutional investors and firms that held crypto on FTX’s platform. Smaller creditors with claims below the $50,000 mark have already begun receiving distributions.

FTX’s collapse left a financial crater and a trail of frustrated creditors—many of whom expected to be repaid in crypto, not dollars. Since the bankruptcy, the price of bitcoin has more than quadrupled, intensifying frustrations among those waiting for their assets back.

The task of unwinding FTX’s balance sheet has been slowed by a large number of claims, many of them reportedly questionable. Andrew Dietderich, a bankruptcy attorney for the firm, told the court that FTX has received “27 quintillion” claims, Blloomberg reported, many of which are duplicates or outright fraudulent.

Interest payments are compounding the urgency. While FTX earns only a modest return on its cash, legitimate creditors are entitled to 9% interest annually on unpaid claims. The longer it takes to pay, the more the company could owe.

Read more: Nearly All FTX Creditors Will Get 118% of Their Funds Back in Cash, Estate Says in New Plan

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