JH Kim

According to Cointelegraph, a media specializing in virtual assets (cryptocurrency), the recent decline of Bitcoin (BTC) is a healthy correction, and it could rise to $130,000 within 90 days. Axel Adler Jr, a CryptoQuant analyst, stated on X (formerly Twitter) on the 24th that "according to on-chain indicators, the current price cycle is closer to a healthy correction rather than the start of a bear market, and BTC has not yet entered the overheated zone." He continued, "The Cumulative Value Days Destroyed (CVDD) indicator shows that the market is still in a growth phase," and explained that "if BTC breaks through the significant resistance at the $123,000 range, potential declines may occur as investors take profits." Meanwhile, BTC is trading at $88,442 on the Binance Tether (USDT) market as of 04:19 on the 25th, up 4.04% from the previous day.

On the 24th (local time), according to blockchain analytics firm Lookonchain, the Trump family's DeFi project World Liberty Financial (WLFI) announced the distribution of the stablecoin USD1 on the Binance (BNB) Chain. Lookonchain added, "It appears that some addresses of the virtual asset (cryptocurrency) market-making firm Wintermute conducted test transfers using USD1."

The Litecoin (LTC) Foundation announced on the 24th (local time) via its official X (formerly Twitter) that Litecoin is now supported in the Telegram internal wallet. The buy, sell, and transfer functions for LTC are supported in countries excluding the United States. Currently, the Telegram wallet supports Bitcoin (BTC), Ton (TON), Tether (USDT), and others. The foundation added, "To commemorate the support of the Telegram wallet, no transaction fees will be charged for purchasing LTC in the Telegram wallet for the next week."

On the 24th (local time), the cryptocurrency-focused media outlet The Block reported that Bitcoin (BTC) could regain its bullish momentum in the second quarter. The first quarter of this year recorded the worst quarterly price increase in five years due to uncertainties from U.S. tariffs, but there is an outlook that interest rate cuts and regulatory easing could encourage the inflow of investment funds into cryptocurrencies. Aurelie Barthere, a senior research analyst at the cryptocurrency data analysis firm Nansen, predicted, "The Trump administration has recently shown a flexible attitude towards tariffs, and market volatility is expected to increase around April 2, when mutual tariffs are announced." Rushi Manche, co-founder of Movement, stated, "The price drop in the first quarter is only temporary, and market conditions point to a rebound in the second quarter," adding that "the cryptocurrency market could secure investment funds due to the Federal Reserve's shift in monetary policy."

According to Reuters on the 21st (local time), Paolo Ardoino, CEO of Tether(USDT), stated that they are "conducting a reserve audit in collaboration with one of the Big Four accounting firms." Previously, Tether announced that they had appointed industry veteran Simon McWilliams, who has audited large asset management firms for over 20 years, as the new Chief Financial Officer (CFO).

Matthew Sigel, head of digital asset research at US asset management firm VanEck, cited Bloomberg legal analysis on the 21st (local time) via X (formerly Twitter), stating that the US government has only a 30% chance of buying Bitcoin (BTC) this year. He said, "Expectations that the Trump administration will buy Bitcoin this year should be lowered," adding, "The government is unlikely to purchase Bitcoin or other virtual assets as reserves this year." He continued, "Even if the proposal passes Congress, no decision will be made at least until the 2026 midterm elections," adding, "The bill currently being drafted under the Trump executive order is merely symbolic and is unlikely to be enacted into actual law."

Amid the removal of the cryptocurrency mixing protocol Tornado Cash (TORN) from the U.S. Treasury's Office of Foreign Assets Control (OFAC) Specially Designated Nationals (SDN) list, Brian Armstrong, CEO of Coinbase, expressed his stance. On the 21st (local time), he stated on X (formerly Twitter), "No one wants criminals to misuse cryptocurrency," emphasizing, "However, privacy is a crucial feature for law-abiding users." He continued, "Open source code cannot be sanctioned," and expressed his pleasure that the issue has been resolved. Additionally, he added, "We want to work with the Treasury to combat illegal activities in cryptocurrency (at a level of 0.1%, much less than cash or the traditional banking system) in a manner consistent with U.S. laws and values."

The German Federal Financial Supervisory Authority (BaFin) has banned the provision of the stablecoin after discovering serious compliance deficiencies in the USDe token approval process by Ethena(ENA) GmbH. Ethena Labs stated, "This decision does not affect the listing of USDe on exchanges or the issuance and redemption services through its British Virgin Islands subsidiary, Ethena BVI Limited." Ethena explained, "Since its inception, we have explored various options and jurisdictions related to the global regulatory framework," adding, "We have several entities facilitating issuance and redemption, and MiCA approval through Ethena GmbH is just one of many options." They continued, "This is merely a case of the MiCA regulatory framework application not being approved, and we will continue to evaluate alternative frameworks," emphasizing, "USDe is still supported, and contrary to some reports, there have been no instances of USDe being frozen due to MiCAR (MiCA Regulation Application)." Additionally, they mentioned, "We plan to amend the terms of service in accordance with the relevant measures, which will be completed by next week," adding, "These measures do not affect the general usage process for the majority of users."

Hong Kong-based investment firm HK Asia Holdings announced that it has purchased an additional 10 Bitcoin (BTC). According to cryptocurrency-focused media outlet CoinDesk on the 21st (local time), the purchase amounts to a total of $858,581, increasing the firm's Bitcoin holdings to 18.88 BTC. HK Asia Holdings stated that it acquired the Bitcoin through open market transactions and used internal cash reserves for the purchase. Additionally, it explained that "Bitcoin is considered a hedge against global economic uncertainty, inflation concerns, and the depreciation of fiat currencies."

Bo Hines, Chairman of the White House Virtual Asset (Cryptocurrency) Presidential Advisory Committee, stated that the revaluation of Gold Certificates could be a way to purchase Bitcoin (BTC) without budget burden. According to CryptoBasic, a virtual asset specialized media, on the 21st (local time), he said, "The administration prefers new ideas and innovative approaches regarding this issue," adding, "We are exploring various strategies with Treasury Secretary Scott Bessent and Commerce Secretary Howard Lutnick, and I want to hear many people's opinions." Meanwhile, the U.S. government is currently known to hold 198,109 BTC. 

Tether (USDT) announced that it would rank 7th among global buyers of US Treasury bonds in 2024. According to the cryptocurrency specialized media CoinDesk on the 20th (local time), Tether net purchased US Treasury bonds worth $33.1 billion last year. As a result, it ranked 7th, surpassing countries such as Canada, Mexico, and Germany. The media explained that this suggests the growing influence of dollar stablecoins in the US Treasury market.

Robert Mitchnick, head of digital assets at BlackRock, attended the Blockworks Digital Asset Summit (DAS) on the 20th (local time) and stated, "Although the Ethereum (ETH) Exchange-Traded Fund (ETF) has experienced a slump since its launch last July, the situation could reverse if some of the regulatory issues suppressing the ETF are resolved." According to CNBC that day, he said, "There is a prevailing opinion that the performance of the Ethereum ETF is poor compared to the Bitcoin (BTC) ETF," and added, "The inability to earn staking revenue through this product may be a major factor suppressing its growth." He continued, "An Ethereum ETF without staking functionality is incomplete," explaining that "staking revenue is a meaningful part of generating additional income." Furthermore, he added, "Adding staking functionality to the Ethereum ETF is not an easy issue," and "It's not a simple matter of a new administration approving something and all of us jumping into the race. There are quite complex challenges, but if we solve them, there will be changes in the situation."

Justin Sun, the founder of TRON (TRX), announced on the 20th (local time) via his X (formerly Twitter) that "a TRX Exchange Traded Fund (ETF) is coming."

An analysis has emerged indicating that fundamentals account for only 10% of cryptocurrency prices. Matthew Sigel, head of digital asset research at the American asset management firm VanEck, attended the Blockworks Digital Asset Summit (DAS) on the 20th (local time) and stated, "Previously, it was believed that half of token prices were determined by capital flow and the other half by fundamentals." He added, "However, now 90% is determined by capital flow, and only 10% is attributed to fundamentals." He further explained, "This becomes more evident when comparing the market capitalization of XRP and Ethereum (ETH)," adding, "Many competitors have submitted single token ETF applications to the U.S. Securities and Exchange Commission (SEC) this year." Additionally, he mentioned, "VanEck is taking a more cautious and proactive strategy," and "is selecting projects to launch ETFs based on these criteria."

Marc Fagel, a former lawyer for the U.S. Securities and Exchange Commission (SEC), stated on the 20th (local time) via X (formerly Twitter) that "there will be no official announcement regarding the SEC's dropping of the Ripple (XRP) lawsuit." He continued, "Like the weekly closed meetings, the SEC generally does not make such announcements officially," adding that "news can only be received through the opposing party, XRP." Furthermore, he said, "It is impossible to speculate on exactly what has transpired between the SEC and XRP, or how close the SEC's department is to obtaining the chairman's approval," adding, "It generally takes weeks to months, but the dropping of the XRP lawsuit might receive the chairman's approval in a matter of days or at most a few weeks." Previously, Brad Garlinghouse, CEO of XRP, stated that the SEC would drop the appeal.