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Michael Saylor’s MicroStrategy Bags 15,355 Bitcoin For $1.42B

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MicroStrategy which has rebranded to Strategy announced yet another major Bitcoin purchase. The latest purchase was made between April 21 and April 27. The purchase was completed on April 28, 2025 and has brought MicroStrategy’s total Bitcoin holdings to 553,555 BTC.

MicroStrategy Buys 15,355 Bitcoin For $1.42 Billion

This time the firm purchased 15,355 BTC for approximately $1.42 billion at an average price of $92,737 per bitcoin. Company executive chairman Michael Saylor shared the news on X. According to Saylortracker, the company’s Bitcoin portfolio is now valued at approximately $52.76 billion. This stash has seen a major pump from their cost basis of approximately $37.90 billion.

The post Michael Saylor’s MicroStrategy Bags 15,355 Bitcoin For $1.42B appeared first on CoinGape.

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PumpFun Competitor Raydium Launches Another Memecoin Launchpad With Bonk – Whats Happening

Crypto news 4 Mins Read

Raydium’s Smart Move:- The race to tap on the potential of memecoins is outdated. Now, web3 projects are racing to build and scale meme launchpads, the platforms that allow users to create and launch their own memecoin.

The centre of this fierce race have become the two leading competitors – Raydium and PumpFun. Both have launched and upgraded their memecoin lauchpads respectively in the last month.

Now, in another major stride by Raydium, it has collaborated with the leading meme project, BONK. Solana DEX Raydium and BONK have come together to launch their new memecoin lauchpad platform, LetsBonk.Fun. As the meme launchpad, LetsBonk allows users to create and launch their memecoins.

Raydium Launches Another LaunchPad – Whats Happening

Before discussing the new platform, it is important to note that this launch marks a significant evolution in the market trend. Earlier, there was a race to launch mass memecoins and now the focus has shifted to the launchpads that create them.

The new Bonk platform, LetsBonk, allows users to launch their own memecoin on Solana without coding. Users can simply connect a Solana wallet, fill in token details such as name, symbol, supply as per their choice. Users are then required to customize settings like liquidity and taxes, and pay a small fee in BONK.

Tokens can then immediately integrate with Raydium’s LaunchLab for liquidity and trading. The platform also offers features like liquidity locking to build investor trust.

Interestingly, a portion of the platform fees will be used to support BONK buybacks and Solana network security. Letsbonk.Fun aims to democratize token creation while promoting transparency and sustainability within the Solana ecosystem.

Bullish Market Reaction

Since its launch, Letsbonk.Fun has witnessed significant engagement. Within the first 24 hours, the platform has attracted approximately 800,000 visitors and facilitated the creation of over 2,700 tokens.

Among these, more than 70 have been successfully launched.

Notably, the platform’s namesake token, LetsBONK, achieved a market cap of more than $30 million within just six hours of its debut.

MarketCap | Source: Coingecko

Serious Player Or A Marketing Move?

The close integration of LetsBonk with Raydium has lead users raising certain questions. Few view this as a “smart play” by Ray to promote its own platform. Due to similarities in UX of both the platforms, few are calling the new launchpad nothing but Launchlabs.

A user on X highlighted the same program ID for creating tokens on both LetsBonk and Raydium’s LaunchLabs. Another highlighted that only changing the colour won’t bring up a new platform.

However, few analysts are hinting at a bigger strategy by Raydium to beat the monopoly of PumpFun in memecoin creator segment. They argue that launch of LetsBonk with the help of Raydium signifies that it is helping other projects to build their own launchpads via Launchlabs.

This strategy indirectly supports asset issuance, a core strength that drove Raydium’s success. Unlike AMM, this business moat is less prone to commoditization, offering a more sustainable competitive edge,” said an analyst.

In this way, it is indirectly competing with PumpFun. Notably, on April 26, Raydium’s LaunchLab had its biggest day with over 4k tokens launched within 24 hours of LetsBonk launch.

More than half of these tokens were from Bonk‘s new launchpad (letsbonkdotfun) that is built on top of Raydium Protocol‘s LaunchLab. There was total of $25m in trading volume on Day 1 of its launch.

Thus, one thing can be concluded: For BONK and users, the LaunchLab–built platform can be just another place to debut a memecoin. But for Raydium, it’s a strategic move that will affirm its place in market and drive new user engagement.

 

Also Check: Ethereum Price Today!

The post PumpFun Competitor Raydium Launches Another Memecoin Launchpad With Bonk – Whats Happening appeared first on CoinGape.

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Coinbase Takes Major Step For Crypto & AI Push In UK With This Partnership

Crypto news 3 Mins Read

Crypto exchange Coinbase is partnering with Founders Factory, Animoca Brands, and Fabric Ventures to launch a 16-week program supporting blockchain and AI startups. In a recent announcement, the exchange revealed its strategic deal with the UK Venture studio and investment giants to boost crypto and AI innovation in the country.

Notably, Coinbase’s initiative comes as the UK is reportedly seen as lagging behind in becoming a major hub for the crypto and AI sector. Let’s explore the details of the exchange’s new venture and its potential implications on the UK’s crypto and AI landscape.

Coinbase Launches AI and Crypto Initiative: Know More

Partnering with Founders Factory, a UK-based venture studio, and the crypto investment firms Animoca Brands and Fabric Ventures, Coinbase is setting its sights on the AI space. The top crypto exchange is planning to organize a 16-week program exclusively for AI and crypto startups.

“The initiative will be unveiled at the Global Fintech Forum on Monday, under the auspices of the UK’s Department for Business and Trade,” stated Coinbase’s UK CEO, Keith Grose. These platforms will unveil the initiative at the Global Fintech Forum on Monday, under the auspices of the UK’s Department for Business and Trade.

Unlocking Next Wave of Crypto & AI

Significantly, this joint venture intends to provide proper guidance to the freshers in the broad crypto and AI spaces. “What we’re looking for is people that are building real-value, high-integrity, trusted applications that will drive broader market adoption for either consumers or enterprises,” Founders Factory chief operating officer Damian Routley stated.

Founders Factory will work with selected founders on business strategy, product development, and fundraising. At the same time, Animoca and Coinbase would share their extensive Web3 experience and expertise with the fledgling startup companies.

According to Routley, applications for the program will open in June 2025. The COO also announced that the program will kick off in September.

Coinbase US Expands Offerings with Bitcoin Yield Fund

In a parallel development, Coinbase US is launching the Bitcoin Yield Fund, set to launch on May 1. The fund targets a 4-8% annual return in Bitcoin for non-US institutional investors. It will utilize a cash-and-carry trading strategy to capitalize on price discrepancies in the Bitcoin market.

These developments come amid the recent legal developments within the Coinbase ecosystem. Alabama’s Securities Commission has dropped its legal action against the exchange, marking a significant milestone.

The post Coinbase Takes Major Step For Crypto & AI Push In UK With This Partnership appeared first on CoinGape.

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5 Ethereum Rivals to Buy to Turn $1K to $10K in May

Crypto news 4 Mins Read

Ethereum price has underperformed in recent months, sparking criticism from top crypto voices such as Cardano’s founder. Charles Hoksinson. Due to the lack of any meaningful gains, traders are actively seeking the best Ethereum rivals to buy and potentially make 10x returns on investment as the broader market flashes bullish signs.

For context, the Ethereum price is trading at around the same price it was one year back, while Bitcoin has surged by 68%. Crypto trader Naiive also criticised ETH, saying a $10,000 investment made 8 years ago would now be worth $8,000.

ETH/USDT: 1-Week Chart

Amid these bearish headwinds and waning investor confidence, let’s explore the top 5 Ethereum rivals to buy to turn $1K to $10K in May.

Ethereum Rivals to Buy Now For 10x Gains in May

The top Ethereum rivals to buy now for potential 10x returns in May include Ripple (XRP), Solana (SOL), Cardano (ADA), Dogecoin (DOGE), and Sui (SUI). These altcoins have not only outperformed Ethereum but also have robust fundamentals and a strong technical outlook, hinting at gains.

Ripple (XRP)

XRP is one of the top Ethereum rivals to buy now amid positive catalysts, including the hype around XRP ETF approvals. At press time, XRP had a higher fully diluted market cap of $232 billion, compared to Ethereum’s $219 billion.

Meanwhile, XRP/ETH is at the highest point in five years after forming a golden cross, indicating that XRP has offered better returns than ETH. Therefore, investors looking to turn $1,000 into $10,000 should consider switching their investment from Ethereum to XRP.

XRP/ETH: 1-Week Chart

Solana (SOL)

One of the top reasons making Solana among the top Ethereum rivals to buy is network growth. Data from DeFillama shows that Solana’s DeFi TVL is approaching the $10 billion milestone, while the stablecoin market cap is at an all-time high.

DeFiLlama

At the same time, SOL has a series of bullish catalysts that could drive a price recovery in the coming months, including potential ETF approvals. If these products are approved, $1,000 worth of Solana could easily grow to $10,000.

Dogecoin (DOGE)

Dogecoin’s rising open interest highlights massive interest in the altcoin, making it among the top Ethereum rivals to buy now. Data from Coinglass shows that Dogecoin’s OI has gradually risen in the last three weeks to $1.9 billion at press time.

Additionally, 71% of traders with open positions on Binance are long on Dogecoin, highlighting a bullish sentiment that this top meme coin will register massive gains. If DOGE bounces higher, traders holding the coin can easily make a 10x return on investment.

DOGE Long/Short Ratio

Cardano (ADA)

Cardano founder Hoskinson is bearish on Ethereum, after recently stating that the altcoin will crash in 15 years. This criticism drew speculation over whether Cardano could be a better investment and one of the top Ethereum rivals to buy.

The technical outlook on the daily price chart shows ADA has bounced from a key demand zone and aims for the next target of $0.93. The rising RSI with a value of 60 further shows the bullish momentum is growing strong and the MACD line has also crossed above the zero line.

ADA/USDT: 1-day Chart

Sui (SUI)

SUI has outperformed the broader crypto market with a staggering 70% gain in the last week alone. Its market cap has also surged to $12 billion, and it might soon enter the ranking for the top ten largest cryptos by market cap.

SUI/USDT: 1-day Chart

SUI is just 28% shy of its all-time high, and as the uptrend strengthens, as highlighted by the AD line, SUI might be poised for a massive uptrend. The AO bars also support a bullish SUI price prediction that the uptrend will continue.

Summary of Top Ethereum Rivals to Buy

Ethereum is underperforming against most cryptos, and traders are actively seeking the top Ethereum rivals to buy to enjoy massive returns. Some of the top altcoins that you can buy to turn $1,000 to $10,000 today are XRP, SOL, ADA, DOGE, and SUI.

The post 5 Ethereum Rivals to Buy to Turn $1K to $10K in May appeared first on CoinGape.

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XRP News: Whale Moves 69 Mln Coins As Price Hits Monthly High

Crypto news 3 Mins Read

In the latest XRP news thread, a Ripple whale has caught the attention with his recent hefty transfer. Besides, it also comes as the Ripple’s coin price hit a monthly high, which has further fueled speculations. Notably, many are citing the recent dump as a profit-taking strategy, often used by traders to book profits when an asset’s price goes higher.

XRP News: Whale’s 69M Dump Fuels Speculation

The on-chain transaction tracking platform Whale Alert reported that approximately 29.53 million XRP, worth nearly $68.72 million, was moved from an unknown wallet “rnVcQ…dT2Vq” to Coinbase. This high-value transaction occurred as XRP marked a significant upswing, hitting its highest price point in over a month.

What’s Happening?

Meanwhile, many market watchers believe the whale’s decision to dump this massive amount indicates an attempt to capitalize on the recent price rise. Historically, large holders often liquidate parts of their holdings when prices rally, aiming to lock in quick profits.

Having said that, the timing of this latest XRP transfer has added more weight to this theory. Some analysts view it as a classic sell signal, while others argue it could simply be a strategic wallet reshuffle ahead of broader market movements. Regardless, the transaction has sparked discussions among the market participants.

Notably, XRP has shown signs of strong recovery recently, especially amid the broader market recovery. So, let’s take a quick look at its recent movements and see what lies ahead for the asset.

XRP Price Soars: Rally To Sustain?

XRP price today has jumped more than 7% and traded at $2.32, accompanied by a 166% jump in its trading volume to $5.33 billion. Notably, the crypto has recently touched its monthly high of $2.35 while adding about 10% in the weekly chart. The recent surge, amid a broader market recovery, hints that investors are once again gaining confidence in Ripple’s coin.

Derivatives Data & Ripple ETF Developments Spark Optimism

Besides, the XRP Futures Open Interest also recorded a jump of around 10%, indicating a strong market sentiment. It also comes as Ripple’s coin has caught the eyes with the recent ETF-related developments. A recent XRP price analysis also showed how the crypto might react once the ETFs get the green light from the US SEC.

Meanwhile, the crypto has also recorded a significant inflow over the last few weeks. Last week, it recorded an influx of $31.6 million while Bitcoin and Ethereum topped the list with a $3.4 billion inflow in total.

What’s Next?

Also, renowned expert Ali Martinez has shared a bullish outlook on the future of the coin. In a recent X post, the analyst noted that the crypto appears to be “breaking out of an inverse head and shoulders pattern, with a potential upside target between $2.70 and $2.90.”

Source: Ali Martinez, X

Considering that, it seems that the crypto might continue to move upwards in the coming days, potentially hitting the $2.90 mark. However, given the macroeconomic concerns and the still persisting volatile scenario in the market, investors should exercise caution before investing in the assets.

The post XRP News: Whale Moves 69 Mln Coins As Price Hits Monthly High appeared first on CoinGape.

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Zweig Breadth Thrust Dominates the Headlines – But What about an Exit Strategy?

Stock 3 Mins Read

The Zweig Breadth Thrust for the S&P 1500 triggered on Thursday as stocks surged last week. In poker terms, this thrust signals an abrupt participation shift as stocks move from folding to all-in within ten days. A bullish thrust signal is only part of the puzzle. How do we know when this signal fails? Today’s report will look at the ZBT signal in the S&P 1500 and offer an exit strategy. Stick around to the end for an offer to access a fully quantified strategy based on the Zweig Breadth Thrust.

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TrendInvestorPro subscribers have access to three timely reports. The first report/video explains the mechanics of the original NYSE-based Zweig Breadth Thrust indicator and then shows a modern version using S&P 1500 Advance-Decline Percent. Second, we also presented a trading strategy using ZBT signals for entry and another indicator for exits. The third report/video covers the setups and thrust signals for the percent above SMA indicators. Some of these indicators also triggered this week, but not all. Click here to take a trial and get full access.

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ZBT Triggers for S&P 1500, but Not S&P 500

The first chart shows the Zweig Breadth Thrust (ZBT) indicator triggering bullish as it moved from below -20% to above +23% within ten trading days (blue line). This thrust signal means S&P 1500 advance-decline breadth became oversold with strong selling pressure and then recovered in dramatic fashion with a surge in upside participation. Moreover, this shift occurred within a 10 day window. This reversal of fortune was both sudden and sharp.

Note that the Zweig Breadth Thrust triggered an epic signal in November 2023, and we were on it. See this report (11-November-2023) for details on the original NYSE-based Zweig Breadth Thrust. See this report (18-November-2023) for details on using S&P 1500 Advance-Decline Percent to create a Zweig Breadth Thrust indicator.  

S&P 500 ZBT Falls Short

The ZBT indicator for the S&P 500 did not trigger. The indicator was below -20% on April 8th and did not make it back above +23% within the 10 day window. In fact, the indicator did not make it back above +23% this week. This shows less upside participation within the S&P 500, and more upside participation within the S&P 1500. Small and mid cap breadth outperformed large-cap breadth this week.

Where’s the Exit?

The Zweig Breadth Thrust is only used for bullish signals, which means chartists must find another indicator to signal a failed thrust. As its name implies, a thrust is a strong upward move that is powerful enough to foreshadow an extended advance. The Zweig Breadth Thrust in November 2023 provides a classic example as SPY continued higher, never looking back. The blue line shows when both the S&P 1500 and S&P 500 ZBT indicators triggered in early November.

Chartists looking for an exit strategy can consider prior support levels based on reaction lows (troughs). The horizontal blue lines show these support levels, starting with the late October 2023 low. SPY forged a reaction low in January 2025, hit a new high in February and then broke support to trigger an exit. Current support levels are based on the April lows.

Chartists looking for a more dynamic approach can consider a trend-following indicator, which we will explore next (subscribers). This strategy is fully disclosed and quantified with backtest results. Click here to take a trial and get immediate access! 

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Crypto Market Recap: ARK Invest Calls for Bitcoin Price of US$2.4 Million by 2030

Investing 7 Mins Read

Here’s a quick recap of the crypto landscape for Friday (April 25) as of 9:00 p.m. UTC.

Get the latest insights on Bitcoin, Ethereum and altcoins, along with a round-up of key cryptocurrency market news.

Bitcoin and Ethereum price update

Bitcoin (BTC) was priced at US$95,030.17 as markets closed for the day, up 1.8 percent in 24 hours. The day’s range has seen a low of US$94,367.25 and a high of US$95,563.75.

Bitcoin performance, April 25, 2025.

Chart via TradingView.

As the crypto market stages its comeback after weeks below its key resistance level, ARK Invest increased its most optimistic Bitcoin price forecast for 2030 from US$1.5 million to US$2.4 million. The firm attributes this upward revision to growing interest from institutional investors and Bitcoin’s expanding role as ‘digital gold.’ Cointelegraph’s market analysis cites five technical indicators pointing to valuations above US$100,000 by May.

Ethereum (ETH) ended the day at US$1,796.65, a two percent increase over the past 24 hours. The cryptocurrency reached an intraday low of US$1,772.18 and a high of US$1,819.79.

Altcoin price update

  • Solana (SOL) ended the day valued at US$151.24, down 0.1 percent over 24 hours. SOL experienced a low of US$150.90 and peaked at $155.18.
  • XRP traded at US$2.19, reflecting a 0.6 percent decrease over 24 hours. The cryptocurrency recorded an intraday low of US$2.19 and reached its highest point at US$2.22.
  • Sui (SUI), this week’s outperformer, was priced at US$3.60, showing an increaseof 8.8 percent over the past 24 hours. It achieved a daily low of US$3.56 and a high of US$3.73. Sui is up by over 67 percent for the week.
  • Cardano (ADA) was trading at US$0.7127, down 1.7 percent over the past 24 hours. Its lowest price on Friday was US$0.7099, with a high of US$0.7268.

Today’s crypto news to know

ARK Invest sees Bitcoin hitting US$2.4 million by 2030

Cathie Wood’s ARK Invest has revised its already-optimistic bitcoin forecast, now projecting the asset could reach as high as US$2.4 million by 2030 in its most bullish scenario.

The firm’s April 24 report outlines three trajectories: a bear case of US$300,000, a base case of US$710,000, and a sky-high scenario that factors in growing institutional allocations and rapid expansion of on-chain financial services.

The US$2.4 million target assumes bitcoin captures 6.5 percent of the US$200 trillion global investable asset pool, with sustained 60 percent annual growth in BTC-driven financial infrastructure. National reserves, corporate treasuries, and rising adoption in emerging markets also play critical roles in the model, but ARK identifies institutional capital as the most transformative force.

While skeptics still cite volatility and regulatory uncertainty, ARK argues that BTC’s asymmetric upside—especially amid global monetary shifts—makes it a once-in-a-generation investment thesis.

Saylor predicts BlackRock ETF will eclipse all ETFs within a decade

MicroStrategy Chairman Michael Saylor declared that BlackRock’s iShares Bitcoin Trust (IBIT) will become the largest ETF in the world within 10 years, following a record-breaking week where U.S. bitcoin ETFs drew US$2.8 billion in net inflows.

IBIT led the pack with US$1.3 billion, lifting its total assets to roughly US$54 billion and driving daily trading volumes above US$1.5 billion. For context, the current largest ETF, Vanguard’s VOO, commands a market cap over US$593 billion—nearly ten times IBIT’s current size.

Bloomberg ETF analyst Eric Balchunas acknowledged Saylor’s claim wasn’t farfetched, but said IBIT would need to consistently attract US$3 billion US$4 billion per day to overtake VOO within a decade.

The bold prediction reflects mounting institutional appetite for BTC exposure, but also underlines the extraordinary capital movement that would be required for such a paradigm shift in ETF rankings.

$ TRUMP meme coin rallies after president offers private dinner

Donald Trump’s $TRUMP meme coin surged over 70 percent after the president promised an exclusive gala dinner for the token’s top 220 holders, including a VIP reception at his Washington DC golf club for the top 25.

Launched just before Trump’s January inauguration, the coin has exploded in both market cap—now estimated around US$2.5 billion—and political intrigue, reflecting the former president’s aggressive expansion into crypto.

This latest move aims to blend campaign optics with digital asset hype, positioning Trump not just as a “crypto president,” but as an active participant in speculative retail culture.

Critics have slammed the dinner-for-holders gimmick as a political stunt and potential conflict of interest, while others say it signals a new model of decentralized donor engagement.

Regardless, the announcement caused a major pump and reignited interest across meme coin forums and pro-Trump financial channels.

Swiss central bank rejects Bitcoin in reserves

Swiss National Bank Chairman Martin Schlegel flatly rejected proposals to include bitcoin in the country’s currency reserves, stating it ‘cannot currently fulfil the requirements’ needed for official holdings.

At the SNB’s annual meeting in Bern, Schlegel cited bitcoin’s extreme volatility and insufficient liquidity as major concerns, making it unsuitable for maintaining the stability and convertibility of the national reserve portfolio.

This comes as activists behind the ‘Bitcoin Initiative’ mount a constitutional referendum campaign that would legally compel the SNB to hold BTC alongside gold. Luzius Meisser, one of the movement’s leaders, argued bitcoin could prove invaluable in a future marked by declining trust in government debt.

The SNB’s resistance, however, signals continued institutional reluctance to enshrine bitcoin as a strategic monetary asset, even in one of the world’s most financially progressive nations.

CME Group to launch XRP futures

The Chicago Mercantile Group (CME) announced plans to launch XRP futures contracts, according to an announcement by the derivatives marketplace on Thursday (April 24).

“As innovation in the digital asset landscape continues to evolve, market participants continue to look to regulated derivatives products to manage risks across a wider range of tokens,” said Giovanni Vicioso, Global Head of Cryptocurrency Products at CME Group. “Interest in XRP and its underlying ledger (XRPL) has steadily increased as institutional and retail adoption for the network grows, and we are pleased to launch these new futures contracts to provide a capital-efficient toolset to support clients’ investment and hedging strategies.”

Pending regulatory approval, participants will be able to trade micro-sized contracts comprising 2,500 XRP and/or large contracts of 50,000 XRP starting on May 19.

Nasdaq calls for consistent digital asset regulation

A letter to the US Securities and Exchange Commission (SEC) from the Nasdaq exchange on Friday (April 25) called on regulators to apply the same regulatory standards to digital assets as they do to securities, particularly if these assets function as ‘stocks by any other name.’

Nasdaq asserted that the SEC needs to develop a more distinct classification system for cryptocurrencies, suggesting that some digital assets should be categorized as ‘financial securities.’ The exchange contended that these tokens should continue to be regulated in the same manner as traditional securities, irrespective of their tokenized format.

“Whether it takes the form of a paper share, a digital share, or a token, an instrument’s underlying nature remains the same and it should be traded and regulated in the same ways,” the letter said.

The letter also proposed categorizing some cryptocurrencies as “digital asset investment contracts,” which would still be overseen by the SEC, but subject to “light touch regulation”.

Securities Disclosure: I, Giann Liguid, hold no direct investment interest in any company mentioned in this article.

Securities Disclosure: I, Meagen Seatter, hold no direct investment interest in any company mentioned in this article.

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Crypto Market Recap: $TRUMP Token Soars as President Extends Exclusive Invitation

Investing 7 Mins Read

Here’s a quick recap of the crypto landscape for Wednesday (April 23) as of 9:00 p.m. UTC.

Get the latest insights on Bitcoin, Ethereum and altcoins, along with a round-up of key cryptocurrency market news.

Bitcoin and Ethereum price update

Bitcoin (BTC) was priced at US$93,529.14 as markets closed for the day, up 2.2 percent in 24 hours. The day’s range has seen a low of US$92,078.75 and a high of US$94,122.31.

Bitcoin performance, April 23, 2025.

Chart via TradingView.

Fueledby the re-entry of institutional investment, the crypto markets appear to be headed towards a robust recovery; however, the long-term trajectory remains to be seen.

Ethereum (ETH) ended the day at US$1,785.14, a 5.2 percent increase over the past 24 hours. The cryptocurrency reached an intraday low of US$1,767.67 and a high of US$1,815.24.

Altcoin price update

  • Solana (SOL) ended the day valued at US$150.05, up four percent over 24 hours. SOL experienced a low of US$149.31 and peaked at $153.47.
  • XRP traded at US$2.22, reflecting a three percent increase over 24 hours. The cryptocurrency recorded an intraday low of US$2.20 and reached its highest point at US$2.29.
  • Sui (SUI) was priced at US$2.98, showing an increaseof 21 percent over the past 24 hours. It achieved a daily low of US$2.89 and a high of US$3.06.
  • Cardano (ADA) was trading at US$0.6981, up 6.3 percent over the past 24 hours. Its lowest price on Wednesday was US$0.6873, with a high of US$0.7138.

Today’s crypto news to know

Bitcoin becomes fifth largest global asset, overtakes Google

Bitcoin has climbed to a market capitalization of US$1.86 trillion, overtaking Alphabet (NASDAQ:GOOGL) to become the world’s fifth-largest asset by market value. The price of Bitcoin surged past US$94,000, helped by easing trade tensions between the US and China and renewed bullish sentiment across tech and risk-on assets.

This marks a symbolic milestone for the cryptocurrency, which has now outpaced several of the world’s most valuable tech giants. Analysts point to Bitcoin’s increasing correlation with macroeconomic tailwinds — such as falling bond yields and speculative interest in risk assets — as drivers of the recent price action.

Its breakout relative to the Nasdaq also suggests growing investor confidence in crypto as a parallel to tech. If Bitcoin maintains this trajectory, some believe it could soon challenge silver’s position as the fourth-largest global asset.

Brandon Lutnick forms new Bitcoin investment vehicle

Brandon Lutnick, son of Howard Lutnick, US secretary of commerce and former Cantor Fitzgerald chair, will launch a listed Bitcoin investment vehicle through a reverse merger with Cantor Equity Partners, a special purpose acquisition company. This is according to a Tuesday (April 22) report from the Financial Times.

The newly established entity, purportedly named Twenty One Capital, will be led by co-founder Jack Mallers, CEO of Bitcoin-focused payments app Strike, and majority owned by Tether (USDT) and cryptocurrency exchange Bitfinex. SoftBank Group (TSE:9984) will also own a ‘significant minority’ stake.

Financial Times sources said Tether will contribute at least US$1.5 billion worth of Bitcoin.

The company will also raise US$385 million through a convertible bond and US$200 million via a private equity placement, which it will use to acquire more Bitcoin. Eventually, SoftBank, Tether and Bitfinex’s investments will be converted from Bitcoin into shares in Twenty One Capital, with a price of US$13 per share for the private placement and US$10 per share for the convertible bond.

According to the report, Twenty One Capital will launch with 42,000 BTC, making it the world’s third-largest Bitcoin reserve. “With a visionary leader at the helm and backing from two renowned industry leaders, Twenty One is designed to help investors capture value from Bitcoin’s growing global demand and increasing institutional adoption,” Lutnick said in a press release on Wednesday. The deal values the new company at US$3.6 billion based on an approximate US$85,000 Bitcoin valuation. As of writing, Bitcoin is valued at US$93,808.31.

Trump backs crypto regulation, Trump Media eyes retail crypto products

During a public appearance, US President Donald Trump called for regulatory certainty in the crypto industry and vowed to provide ‘clear rules of the road’ for digital asset innovation.

His statement coincided with Trump Media & Technology Group’s announcement that it will partner with Crypto.com and Yorkville America Digital to launch retail investment products, including crypto-focused ETFs aligned with Trump’s “America First” platform. The planned offerings aim to capitalize on the president’s growing presence in the digital asset space following prior ventures like Trump NFTs and crypto-affiliated partnerships.

While no official ETF filings have been submitted yet, the initiative signals Trump’s commitment to making crypto a policy priority as part of his economic strategy.

Trump to host dinner for $TRUMP token holders

Trump will host a dinner for the top 220 holders of his $TRUMP token in Washington, DC, on May 22.

News of the event sent $TRUMP’s valuation up by over 55 percent in under an hour. $TRUMP reached US$14.44 at around midday on Wednesday, its highest valuation since mid-February. As of writing, $TRUMP is valued at US$13.46.

Top token holders are required to link their wallets for holding verification. The top 25 holders will gather for a private reception with the president before dinner.

Around 40 million $TRUMP tokens, or roughly 20 percent of the tokens’ circulating supply, were unlocked on April 17; they were valued at slightly above US$300 million at the time.

$TRUMP reached an all-time high of US$75.35 on January 19, according to data from CoinMarket Cap. This was followed by an abrupt reversal and steady decline in Q1 to valuations between US$9 to US$7 in April.

Tesla reports US$951 million in Bitcoin holdings despite earnings miss

Tesla (NASDAQ:TSLA) revealed it continues to hold $951 million worth of Bitcoin on its balance sheet, despite posting weaker-than-expected quarterly revenue of US$19.34 billion.

The automaker’s Bitcoin holdings, totaling 11,509 BTC, remained unchanged during the quarter, with no buy or sell activity recorded. This comes as Bitcoin’s price dipped from late December highs, impacting Tesla’s valuation of its digital asset portfolio under the new Financial Accounting Standards Board rules.

These rules now require corporations to mark digital assets to market on a quarterly basis, increasing transparency but also exposing earnings to crypto market volatility. Tesla’s crypto exposure, while relatively small compared to its core business, still makes it one of the top public holders of Bitcoin globally.

Riot Platforms secures US$100 million credit facility backed by Bitcoin

Riot Platforms (NASDAQ:RIOT) secured a US$100 million credit facility from Coinbase Global (NASDAQ:COIN) on Wednesday using a massive Bitcoin stockpile as collateral.

Data from Bitcoin Treasuries indicates that Riot holds 19,223 BTC valued at approximately US$1.8 billion, making the company the third-largest corporate Bitcoin treasury behind Michael Saylor’s Strategy and MARA Holdings.

“Riot has entered into its first bitcoin-backed facility, which provides us with non-dilutive funding at an attractive cost of financing,” said Jason Les, CEO of Riot, in a press release. “This credit facility is a key part of our efforts to diversify sources of financing to support our operations and strategic growth initiatives, with a view towards long-term stockholder value creation.”

Securities Disclosure: I, Giann Liguid, hold no direct investment interest in any company mentioned in this article.

Securities Disclosure: I, Meagen Seatter, hold no direct investment interest in any company mentioned in this article.

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Tech 5: Major Players Release Latest Results, Google’s Antitrust Fight Heats Up

Investing 8 Mins Read

This week brought major developments in the tech space as interest rate speculation impacted the market and Alphabet (NASDAQ:GOOGL) saw developments in its high-stakes antitrust battle.

Meanwhile, Motorola Solutions (NYSE:MSI) made waves with new artificial intelligence (AI) integrations, and earnings reports impacted shares of Tesla (NASDAQ:TSLA), IBM (NYSE:IBM) and Intel (NASDAQ:INTC).

Meanwhile, the EU continued its regulatory push against Apple (NASDAQ:APPL) and Meta Platforms (NASDAQ:META).

Read on to dive deeper into this week’s top stories.

1. DOJ pushes for radical remedies in Google’s antitrust trial

This week, federal attorneys presented possible remedies before Judge Amit Mehta in the Google search antitrust case, following his August 2024 ruling that Google is illegally monopolizing the search market.

The US Department of Justice (DOJ) recommended that Google be forced to share its user data with rivals and advocated for the sale of Google’s Chrome business, arguing that the divestiture would give other companies a fighting chance in the search engine market. As the week progressed, executives from OpenAI, DuckDuckGo, Perplexity and Yahoo said they would consider acquiring Chrome if Mehta were to force a sale.

“Google can compete, but they simply don’t want to compete on a level playing field,” DOJ attorney David Dahlquist said during his opening remarks on Monday (April 21). He added, “Google is now fearful of competing against rivals who will only get stronger with the proposed remedies in place.” Dahlquist also called for forward-looking remedies that would prevent future monopolization in the burgeoning field of AI-powered search and related AI services, proposing that Google be banned from making deals with phone manufacturers that make Google Search the default search.

Google’s attorney, John Schmidtlein, said the proposal is “fundamentally flawed” and argued that it is a “wishlist” for competitors that would immediately benefit from technology that Google has spent years developing.

In a blog post on Sunday (April 20), Lee-Anne Mulholland, Google’s vice president of regulatory affairs, wrote, “At trial, we will show how DOJ’s unprecedented proposals go miles beyond the Court’s decision, and would hurt America’s consumers, economy, and technological leadership.” Mulholland contends that the DOJ’s antitrust proposals would hinder user access to preferred services, raise costs, slow innovation, jeopardize privacy, impede AI development and undermine the functionality and security of key platforms like Chrome and Android.

Illustrating the challenge that Google’s competitors face, Dmitry Shevelenko, head of product for Perplexity AI, said that on on Android devices, the process of setting Perplexity AI as the default AI assistant over Google’s pre-set Gemini is like navigating a “jungle gym.’ However, he also expressed concern that forcing Google to sell Chrome to a competitor, like OpenAI, could lead to the discontinuation of Chrome’s open-source model, which many developers rely on.

Google presented ongoing arguments that users choose Google Search because of its high-quality results, not as a result of anticompetitive practices. The defense also presented evidence that OpenAI, Microsoft (NASDAQ:MSFT) and Meta have sought deals with Samsung Electronics (KRX:005930) to put their AI chatbots onto Samsung phones.

This week’s proceedings laid bare starkly contrasting visions for the future of the search market. The result of the trial will be a pivotal moment and could lead to a major shake-up in the tech world.

2. Motorola to enhance smartphones with multi-partner AI integration

Motorola announced a strategic move on Thursday (April 24) to enhance its smartphones through key partnership agreements with Google, Meta, Microsoft and Perplexity. The company’s new deal takes a “best-of-breed” approach by integrating specialized technologies from each partner into Moto AI.

The Perplexity app will be pre-installed on the new Razr series, allowing users to access Perplexity’s search and assistant capabilities directly within Moto AI. Other Motorola devices launched after March 3, 2025, will receive this feature via a future update. The deal will make Motorola the first smartphone brand to fully integrate Perplexity.

Besides Perplexity, Motorola’s partnership with Google integrates Gemini and Gemini Live models for on-device AI features. Meta’s Llama model will enhance on-device processing, providing notification summaries and enabling mixed-reality notifications and app viewing. Microsoft’s Copilot serves as another option for a conversational chatbot.

Motorola introduced its newest lineup of Razr phones on Thursday. They are equipped with four new features that leverage the specific strengths of each partner: Next Move for recommendations, Playlist Studio for curated music, Image Studio for text-to-image generation and Look and Talk (exclusive to Razr 60 Ultra) for hands-free AI activation.

3. Tesla, IBM, Intel and Alphabet release results

This week brought Q1 earnings releases from prominent tech firms Tesla, IBM and Intel.

The market’s reaction to these reports often sets the tone for the broader market sentiment and trading activity, underscoring the intense scrutiny these updates now hold.

Tesla released its report after markets closed on Tuesday (April 22), showing lower-than-expected revenue and earnings. Despite that news, the company’s share price moved upward on Wednesday. During an earnings call, CEO Elon Musk said that he will begin reducing his time spent at the White House overseeing the Department of Government Efficiency and spend more time at Tesla, news that likely contributed to this upward momentum.

Musk also highlighted a focused approach to bringing robotaxis to Austin by June, with more cities to follow, alongside piloting automated Cybercab production for next year. While 2025 delivery targets were unspecified, he reaffirmed the affordable vehicle’s development and ongoing Full Self-Driving progress.

Conversely, IBM’s stock price fell by over 6 percent on Thursday after the company reported its results after Wednesday’s closing bell; the decline came even after it beat analysts’ estimates for both revenue and earnings. This negative reaction has been attributed to a slowdown in IBM’s consulting businesses, sparking concerns about the company’s future growth. Cautious language regarding the economic outlook may have also weighed on investor sentiment.

Tesla and IBM performance, April 22 to 25, 2025.

Chart via Google Finance.

Meanwhile, Intel’s Thursday release of its Q1 results revealed flat revenue and lower earnings per share alongside a lower-than-expected outlook for Q2. The report resulted in a decline in Intel’s stock price, erasing earlier gains that followed a Fortune report that the company planned to lay off 20 percent of its workforce.

Intel and Alphabet performance, April 22 to 25, 2025.

Chart via Google Finance.

Finally, Alphabet shares rose in after-hours trading following its earnings release on Thursday, closing higher on Friday (April 25) as investors reacted positively to a strong report that revealed increases across the board.

4. EU hits Apple and Meta with DMA fines

The European Union fined Apple and Meta on Wednesday on the grounds that the companies have breached the Digital Markets Act (DMA). Apple was fined 500 million euros after the European Union found that the company imposed restrictions that prevented app developers from informing users about offers available outside of Apple’s App Store, thereby breaching the DMA’s “anti-steering” obligation. Additionally, the European Commission issued a cease-and-desist order to Apple, giving the iPhone maker 60 days to comply with the DMA.

Meta was fined 200 million euros for allegedly violating the DMA’s rules on user consent for data usage with its “pay or consent” model, which requires either personalized advertising or a subscription for ad-free service.

Both companies have said they plan to appeal.

“We have spent hundreds of thousands of engineering hours and made dozens of changes to comply with this law, none of which our users have asked for. Despite countless meetings, the Commission continues to move the goal posts every step of the way,” a representative for Apple told CNN.

Meanwhile, Meta told the Wall Street Journal that the penalties amount to “a multibillion-dollar tariff on Meta while requiring us to offer an inferior service.”

5. Apple plans iPhone manufacturing shift

Apple is reportedly planning a significant shift in its iPhone manufacturing strategy, aiming to move the assembly of iPhones destined for the US market from China to India as early as next year, according to a Thursday report in the Financial Times. This potential move signals a considerable departure from Apple’s longstanding dependence on China as its primary iPhone production hub. The impetus behind this strategic realignment is largely attributed to the escalating trade tensions between the US and China, which have compelled numerous multinational corporations to re-evaluate and diversify their global supply chains to mitigate risks.

Apple’s efforts to establish a manufacturing footprint in India have been underway for several years, with a gradual increase in iPhone production in the South Asian nation. However, the latest reports suggest a much more ambitious plan. Insiders familiar with the matter have indicated to the Financial Times that Apple’s ultimate objective is to transfer its entire iPhone production capacity for the US market to India by the end of 2026.

This would represent a complete overhaul of Apple’s current manufacturing arrangement and a major boost to India’s aspirations of becoming a global electronics manufacturing center.

Securities Disclosure: I, Meagen Seatter, hold no direct investment interest in any company mentioned in this article.

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