Metaplanet maintains high Bitcoin appetite

Posted on March 4, 2025 by Olumide Adesina

Metaplanet purchased an extra 156 bitcoins after its CEO stated that the company was looking into listing outside of Japan, possibly in the US. The purchase price of the 156 bitcoins (BTC) was $13.4 million, or $85,890 per bitcoin.

The company said in a statement the same day that this new acquisition increases Metaplanet’s bitcoin holdings to 2,391 BTC.

The most recent acquisition comes after the business announced it would issue $13.6 million in zero-interest bonds to finance its Bitcoin ambitions.

Metaplanet issued 40 common bonds on February 27th, each worth 50 million yen, for 2 billion yen. These bonds will be fully redeemed and have no interest attached on August 26, 2025. The Evo Fund, Metaplanet’s Bitcoin acquisition fund, will receive the proceeds from this project.

Metaplanet invested $196.3 million in the cryptocurrency under Simon Gerovich’s direction with an average purchase price of $82,100 per bitcoin. The value of its Bitcoin portfolio has increased by 13% since the start of its investment strategy in April.

Mark X, the CEO of Metaplanet, announced the news on X (formerly Twitter) emphasizing the company’s ongoing faith in bitcoin as a key asset.

Metaplanet further solidified its bullish position by announcing the purchase of 135 BTC.

The company has lofty objectives with a target to hold 10,000 Bitcoin by the end of 2025 and 21,000 by the end of 2026, demonstrating its dedication to the cryptocurrency and increased institutional adoption of the pioneer crypto asset.

Ripple: XRP Keeps Falling like Humpty Dumpty

Posted on March 4, 2025 by Olumide Adesina

XRP’s bearish run is part of a correction that started on March 3 as President Trump rattled the crypto market with trade tariffs on its major trading partners.

The token has lost about 9% of its value for the day. XRP lost its 3rd position on crypto assets valuation raking to tether. The fourth most valuable crypto asset by market valuation is now worth $137 billion

President Donald Trump claimed that the purpose of the higher tariffs was to put pressure on China to stop the flow of illegal drugs, especially fentanyl, into American territory.

Trump also imposed 25% tariffs on Canada and Mexico and demanded that both countries tighten border controls. In addtion, significant liquidations in the derivatives market coincide with XRP’s decline, indicating intense selling pressure.

According to Coinglass data, leveraged XRP positions worth $51 million were liquidated today. In the last 24 hours alone, over $43 point 25 million worth of long XRP positions were liquidated, while $7 point 75 million worth of short liquidations took place. When long positions are liquidated, bullish traders are compelled to sell.

The token struggled to maintain psychological support at $2.4 amid weak risk appetite. The recent range low at $1.8 and the support level at $1.5, where the 200-day SMA is presently located, are potential targets for XRP’s further decline.

the resistance at $2.5 must be turned into support for Ripple’s token to turn bullish A bullish bounce above $3.00 will be possible if the bulls can crack the $2.8 resistance line.

Price volatility, regulatory issues, and shifting investor sentiment have all plagued XRP over the years.

However, market patterns on a long-term spectrum, make a strong case of hope for Ripple bulls. The token oscillated at $2.35, up over 325 percent in half a year.XRP is still 34 percent below its peak, allowing for potential future growth amid recent market correction

China attacks U.S. Soybeans, Sorghum, Pork, Beef

Posted on March 4, 2025 by Olumide Adesina

China announced tariffs on American goods and other trade measures on Tuesday in retaliation for President Donald Trump’s increased 20 percent trade tariff against the United States,

According to the Chinese finance ministry, imports of chicken, wheat, corn, and cotton from the United States are subject to 15% tariffs and imports of soybeans, sorghum, pork, beef, fruits and vegetables, dairy products, and aquatic products are subject to 10% tariffs.

The Commerce Ministry of China placed American companies on a list of untrustworthy entities and 15 American entities on an export control list. The actions will go into effect on March 10.

The actions will go into effect on March 10. Beijing targeted several businesses, including Illumina Inc., which is currently prohibited from supplying China with gene sequencing equipment.

Beijing criticized Trump’s decision to increase import duties on all Chinese goods from 10% to 20%, prompting retaliatory actions.

Trump claimed that the purpose of the higher tariffs was to put pressure on China to stop the flow of illegal drugs, especially fentanyl, into American territory. On similar grounds, Trump also imposed 25% tariffs on Canada and Mexico and demanded that both countries tighten border controls.

Beijing retaliated with tariffs and export restrictions after Trump imposed 10% tariffs on China in February.

China’s retaliation and Tuesday’s tariffs could signal the start of a trade war between the world’s largest economies. A bitter trade war with China also characterized Trump’s first term in office, but tensions subsided after a trade agreement was signed in 2019.

SEC Ends Complaint Against Kraken

Posted on March 3, 2025March 3, 2025 by Olumide Adesina

Kraken declared a civil lawsuit accusing the company of functioning as an unregistered securities exchange got dismissed by the Securities and Exchange Commission.

The tier 1 crypto exchange announced no penalties were paid, no admission of wrongdoing, and no adjustments were made to the company’s business practices

The case against Kraken was brought in November 2023, when former SEC Chair Gary Gensler was in office and eager to include cryptocurrencies under his agency’s purview.

There has been a change in the regulatory approach to cryptocurrencies since the start of President Donald Trump’s second term. Paul Atkins, a Washington attorney well-known for his pro-digital asset views, is Trump’s nominee to chair the SEC.

Kraken sees the SEC’s decision to drop the case as a major turning point for cryptocurrencies in the US. The business claimed the ruling ended a wasteful, politically driven campaign that impeded investment and innovation.

The industry has recently seen several successes as SEC investigations into companies like Coinbase and Robinhood have been dropped.

SEC lawsuits have even failed against industry titans OpenSea and Uniswap Labs.

The Kraken platform is among the oldest and most reputable in its field. It provides services that include trading hundreds of cryptocurrencies, staking, and derivatives.

Ripple: XRP Falls Like a House of Cards

Posted on March 3, 2025March 3, 2025 by Olumide Adesina

Ripple-based token pulled back a junk of Sunday’s gain at the start of trading in the American session. The third most valuable crypto asset was down 5% for the day.

After being rejected at roughly $3, the market action formed a double top, signifying that the remittance token bulls had run their course.

The price then fell and bounced at $2.59. The price seems to have found support, and a double bottom may develop. Whales may return if the bullish run trend persists, which could push the token above $2.75

However, if short sellers drag XRP below the $2.5 support line, the bears might take over the altcoin. In that case, a bullish trend line will be important to monitor.

The RSI for XRP hit 85, the highest level since December 2024, indicating strong bullish sentiment, which usually precedes a market correction. The recent price retracement is reflected in XRP’s RSI, above 60 after cooling off from its overbought zone.

The drop from extreme levels may suggest that buying pressure is abating, even though a reading above 60 still indicates bullish momentum.

The crypto token may experience additional consolidation or a more significant pullback if it falls toward the neutral zone.

XRP is still significantly impacted by the regulatory haze surrounding it. The Securities and Exchange Commission (SEC) and Ripple Labs, the company that created XRP, have been involved in a legal dispute for five years. However, Ripple achieved a partial legal victory when a judge decided that XRP was not a security in 2024.

Meanwhile, BitMEX co-founder Arthur Hayes expressed skepticism regarding the Crypto Reserve strategy involving XRP.

He insisted that the announcement is “just words” since neither congressional approval nor funding has been provided for buying digital assets. Trump’s statement portends more discussions regarding digital assets in the US. However, the plan’s implementation is still uncertain.

According to Armstrong, CEO of Coinbase, the simplest course of action would be to restrict the reserve to Bitcoin. Armstrong wrote in an X post that “Just Bitcoin would probably be the best option — simplest, and clear story as successor to gold,” but he was still deciding how to allocate his assets.

U.S. Crypto Czar Sold Bitcoin, Ethereum Stash

Posted on March 3, 2025 by Olumide Adesina

White House AI and Crypto Czar David Sacks and his firm Craft Ventures sold their direct cryptocurrency holdings before Donald Trump’s inauguration on January 20. The source claims that Sacks and his company liquidated their direct cryptocurrency holdings, which included Bitcoin, Ethereum, and Solana.

Sacks and his company continued to invest in other cryptocurrency-related startups even after selling his direct cryptocurrency holdings.

The first-ever Crypto Czar is preparing for an ethics review that could decide whether his appointment under the Trump administration and his cryptocurrency holdings create a conflict of interest. The source expects Sacks to disclose his cryptocurrency holdings and stakes after the review for transparency.

Sacks, interestingly, acknowledged the report, stating that he had sold all of his direct cryptocurrency holdings, including Ethereum, Bitcoin, and Solana, before the start of Trump’s administration.

Sacks used Craft Ventures to invest in Bitcoin, including Solana. X’s Community Notes implied that he possesses substantial indirect cryptocurrency holdings in Bitwise Asset Management.

Bitwise offers exchange-traded funds (ETFs) connected to Bitcoin and Ethereum to provide context. The business also plans to launch spot ETFs that are linked to XRP. Sacks refuted the Community Note’s claim on X post, revealing that he sold off his $74,000 investment in Bitwise ETF on January 22. He insisted that his cryptocurrency holdings follow the ethics review.

President Trump Pushes Bitcoin Past $95K

Posted on March 2, 2025March 3, 2025 by Olumide Adesina

Bitcoin experienced a dramatic rise after falling to a three-month low below $80,000 on Friday.

President Donald Trump announced a crypto strategic reserve for the world’s largest economy, which caused the price of bitcoin to soar past $95K on Sunday.

Bitcoin was left off the list in his first post on Truth Social, leaving observers perplexed, to why the biggest cryptocurrency asset by market capitalization wouldn’t be part of such a reserve. “And, obviously, BTC and ETH, as other valuable cryptocurrencies, will be at the heart of the reserve,” Trump wrote in a second post to Truth Social, seemingly in response to the confusion.

“I also adore Ethereum and Bitcoin,” Trump declared. The president claimed that the move was an attempt to turn the nation into the “crypto capital of the world”.

Ether, a cryptocurrency that has suffered some of the biggest losses this year, rose by 12%.

Investors are anxiously awaiting more clues about the direction of the reserve plans as Trump hosts the first White House Crypto Summit on Friday.

Trump has stated that he favors a cryptocurrency “reserve” rather than a “stockpile.”. A stockpile means not selling any cryptocurrency the US possesses, even though the former assumes actively buying cryptocurrency in regular installments.

Bitcoiners were concerned that the president would not fulfill his campaign pledge to establish a strategic reserve of the largest and most established cryptocurrency, which prompted the announcement.

Ripple, whose founders made XRP, was charged by the Bitcoin community in January with trying to “undermine” initiatives to establish a reserve focused on Bitcoin.

President Trump adds Bitcoin, Ethereum

Posted on March 2, 2025March 2, 2025 by Olumide Adesina

President Trump says Bitcoin and Ethereum “will be at the heart of the Reserve.” He excluded these crypto assets in his earlier announcement.

Trump earlier announced that XRP, Solana (SOL), and Cardano (ADA) would be included in the reserve. Today’s announcement details the executive order he signed directing the Digital Assets Working Group to move forward with this reserve.

Trump stated at the Bitcoin 2024 conference in Nashville, Tennessee, that he would create a “strategic national Bitcoin stockpile.”. “It will be the policy of my Administration — the United States of America — to retain 100 percent of all the Bitcoin the government currently holds or acquires,” Trump informed the audience during his keynote address. “We will retain all of it.
“At least I hope you do well.” The president added “This will effectively function as the central component of the strategic national Bitcoin reserve. “

The president’s wording on a Bitcoin strategic stockpile changed following his executive order on January 23 ordering the group to create a “digital asset stockpile,” which infuriated Bitcoin maximalists.

ADA: Cardano on Rampage, gains 51% after Trump’s Speech

Posted on March 2, 2025March 2, 2025 by Olumide Adesina

Cardano was on a rampage after the President mentioned the altcoin as part of the U.S. crypto strategic reserve.

The altcoin was up by a whopping 51% for the day. ADA was trading near the $1 market with a market valuation of $34.6 billion. The 8th most valuable crypto asset broke key resistance levels after the U.S. president hinted at XRP, ADA, and SOL as part of the U.S. crypto strategic reserve.

He positioned the initiative as a response to “deceptive assaults” on the cryptocurrency sector, allegedly orchestrated by the Biden administration.

“Establishing a US Crypto Reserve will boost this vital industry, which has suffered from years of deceptive assaults by the Biden Administration. The Executive Order on Digital Assets prompted the Presidential Working Group to progress with a Crypto Strategic Reserve, incorporating XRP, SOL, and ADA. I will ensure that the US becomes the global leader in cryptocurrency.” President Trump stated on Truth Social.

The declaration expands upon Executive Order 14178, signed previously this year, which set up the Presidential Working Group on Digital Asset Markets.

Led by venture capitalist David Sacks, the group was assigned to formulate a national strategy for digital assets, including the possibility of a government-held cryptocurrency reserve.

Although Bitcoin (BTC) was commonly anticipated to be the foundation of any federal digital asset holdings, Trump’s decision to emphasize XRP, SOL, and ADA indicates a more inclusive approach to blockchain adoption.

President Trump dumps Bitcoin, Ethereum for XRP, ADA, Solana

Posted on March 2, 2025March 2, 2025 by Olumide Adesina

President Trump disclosed via his social media handle the creation of a digital Strategic Reserve, with no mention of Bitcoin and Ethereum.

President Donald Trump announced that XRP, Cardano (ADA), and Solana (SOL) would be added to the US crypto reserve. The announcement follows Trump’s signing of an executive order creating a working group devoted to digital assets.

The president mandated the group to set clear regulations for the crypto industry and assess the possibility of a national digital asset stockpile. Strengthening the US digital asset market is the proposed reserve’s main goal.

Three well-known cryptocurrency assets are highlighted in the plan as essential parts of the suggested reserve structure: Cardano’s ADA, Solana’s SOL, and Ripple’s XRP.

President Trump reportedly intended to make cryptocurrency a national priority in January with a focus on establishing a strategic reserve using US-based coins and suggesting a more crypto-friendly SEC chair,

Trump announced last fall that he and his sons were helping to establish a new cryptocurrency business World Liberty Financial. Trump revealed a meme project before his inauguration. Economists, ethics watchdogs, and some industry insiders harshly criticized the personal meme coin, $Trump.