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New SEC chair ‘will be good for Bitcoin’ — Michael Saylor
Michael Saylor, the CEO of top corporate Bitcoin holder Strategy (formerly MicroStrategy), expressed support for new US Securities and Exchange Commission (SEC) Chair Paul Atkins.
In an April 23 X post, Saylor wrote that “SEC Chairman Paul Atkins will be good for Bitcoin.” The statement follows Atkins’ swearing-in as the 34th chairman of the SEC on April 21.
Blue Macellari, head of digital assets at investment firm T. Rowe Price, also commented on Atkins in a recent Bloomberg interview. She seemed hopeful and recognized a change in how the SEC has acted under the new administration, particularly with crypto-related information, including “close to six or seven roundtables” with industry professionals.
Trump memecoin team denies $300K dinner requirement rumors
US President Donald Trump’s memecoin team denied social media rumors that holders of the Official Trump token need at least $300,000 to participate in an upcoming dinner with the president.
On April 25, the official X account of the Trump memecoin clarified that there is no $300,000 requirement to join the memecoin project’s dinner event featuring the US president.
The rumor stemmed from community members citing the Solana blockchain explorer showing holders on the token’s contract address. At the time of writing, the explorer shows that the 220th-largest holder has 33,114 TRUMP, worth more than $400,000. However, the memecoin team said the explorer doesn’t reflect their criteria.
Serbia’s Prince Filip says Bitcoin is being stifled, expects huge rally
Bitcoin’s price trajectory may be suppressed ahead of its upcoming “omega candle” rally, according to Prince Filip Karađorđević, the hereditary prince of Serbia and Yugoslavia.
In an April 24 interview with Simply Bitcoin, Filip said some market participants may be limiting Bitcoin price action.
“People are able to control the market to some extent,” he said. “Maybe that’s what acted on the 2021 market that suppressed its price from jumping high up. We could get that again in 2025, but there will be one point where [Bitcoin price] will run away.”
Filip added that Bitcoin remains a fundamentally deflationary asset and said its value is “always going to rise over time.”
Sam Bankman-Fried moved to a low-security prison — so what?
Sam “SBF” Bankman-Fried, the disgraced co-founder of collapsed cryptocurrency exchange FTX, has been moved to a low-security US federal correctional institution.
Bankman-Fried was moved to the low-security Terminal Island federal correctional institution. Previously, he was located at the Victorville medium-security facility, a notoriously violent place, according to prison consultant firm Elizabeth Franklin-Best.
Samuel Goldfaden, a partner at the crypto-centric law firm, DLT Law told Cointelegraph that while his previous facility was violent, Bankman-Fried had been held in a safer part of the facility,
Riot Platforms secures $100M ‘Bitcoin-backed’ loan from Coinbase
Riot Platforms has used its massive Bitcoin stockpile as collateral to secure a $100 million credit facility from Coinbase as the cryptocurrency miner eyes continued expansion.
The $100 million loan from Coinbase’s credit arm marks Riot’s “first Bitcoin-backed facility,” CEO Jason Les said in an April 23 statement.
Les said the credit line will be used to fund general corporate operations and support the company’s “strategic growth initiatives.”
The credit line is scheduled to mature in one year’s time, but could be extended for an additional year. The loan carries an annual interest payment of at least 9%, based on the current upper limit of the federal funds rate plus 4.5%.
Winners and Losers
At the end of the week, Bitcoin (BTC) is at $94,738, Ether (ETH) at $1,789 and XRP at $2.18. The total market cap is at $2.96 trillion, according to CoinMarketCap.
Among the biggest 100 cryptocurrencies, the top three altcoin gainers of the week are OFFICIAL TRUMP (TRUMP) at 71.78%, Sui (SUI) at 66.94% and Bonk (BONK) at 64.21%.
The top three altcoin losers of the week are DeXe (DEXE) at 5.58%, UNUS SED LEO (LEO) at 3.12% and PAX Gold (PAXG) at 1.12%. For more info on crypto prices, make sure to read Cointelegraph’s market analysis.
Most Memorable Quotations
“2025 has the potential to be blockchain’s ‘ChatGPT’ moment for adoption in the financial and public sector, driven by regulatory change.”
“We have seen Bitcoin supply on exchanges dropping due to public company purchases — something we anticipate accelerating in the near future.”
“Despite growing institutional interest, Bitcoin’s long-term resilience won’t be secured by balance sheet optics alone — it depends on real usage.”
Fei Chen, founder and CEO of Intellectia AI
“SEC Chairman Paul Atkins will be good for Bitcoin.”
Michael Saylor, co-founder and executive chairman at Strategy
“Our mission is simple: to become the most successful company in Bitcoin, the most valuable financial opportunity of our time. We’re not here to beat the market, we’re here to build a new one.”
Jack Mallers, founder and CEO of Strike
“This backdrop favors Bitcoin as the ‘cleanest shirt in the dirty laundry.’”
Top Prediction of The Week
Bitcoin spikes to 7-week highs as analyst doubts chances of $100K rebound
Bitcoin headed into key resistance after the April 25 Wall Street open as doubts over the BTC price breakout persisted.
Read also
Keith Alan, cofounder of trading resource Material Indicators, doubted whether BTC/USD could sustain a trip above $95,000.
Alan noted declining volume as price moved higher, repeated wicks below the yearly open and a “down” signal on one of Material Indicators’ proprietary trading tools.
“For me, a pump above $95k would invalidate the new signal, but I’d probably consider such a move to be a short squeeze unless we have a catalyst with some substance behind it,” he summarized.
Top FUD of The Week
North Korean hackers set up 3 shell companies to scam crypto devs
A subgroup of the North Korea-linked hacker organization Lazarus set up three shell companies, two in the United States, to deliver malware to unsuspecting users.
Read also
The three sham crypto consulting firms — BlockNovas, Angeloper Agency and SoftGlide — are being used by Contagious Interview, a sub-group of Lazarus, to distribute malware through fake job interviews, Silent Push threat analysts said in an April 24 report.
Silent Push senior threat analyst Zach Edwards said in an April 24 statement to X that two shell companies are registered as legitimate businesses in the US.
“These websites and a huge network of accounts on hiring / recruiting websites are being used to trick people into applying for jobs,” he said.
DeFi platform KiloEx to compensate users impacted by $7.5M hack
Decentralized exchange KiloEx said it will compensate traders and stakers hurt by a $7.5 million exploit that temporarily shut down the platform earlier in April.
In an April 24 announcement, KiloEx said traders who had positions open while the platform was suspended would get full compensation if their losses increased or profits decreased. The platform said it would pay the difference.
KiloEx urged traders to close their positions immediately once the platform resumes operations, as delaying could affect their profit and losses, which may then impact the compensation amount.
“Please close your position as soon as possible after the platform resumes. Compensation will be calculated based on the platform’s resume time,” KiloEx stated.
Prosecutors seek over 6 years prison for Mango Markets exploiter
US federal prosecutors have asked a district judge to sentence Avraham “Avi” Eisenberg, the crypto user convicted of the $110 million exploit of the decentralized exchange Mango Markets in 2022, to at least six and a half years behind bars.
Ahead of Eisenberg’s May 1 sentencing hearing, US prosecutors are petitioning US District Judge Arun Subramanian for Eisenberg to face between 78 and 97 months in prison, according to an April 22 filing in a New York district court.
Prosecutors argue it’s an appropriate sentence for Eisenberg’s April 2024 conviction for committing wire fraud, commodities fraud and commodities manipulation in connection with the Mango Markets exploit and separate charges that he possessed child pornography.
“This sentence is necessary to, among other things, appropriately reflect the gravity of the defendant’s crimes, promote respect for the law, deter the defendant from future criminal activity, and protect the public,” the prosecutors said.
Top Magazine Stories of The Week
Ethereum is destroying the competition in the $16.1T TradFi tokenization race
Ethereum is miles ahead in the race to become the global settlement layer for Tradfi. But nice guys finish last.
Pokémon on Sui rumors, Polymarket bets on Filipino Pope: Asia Express
Sui blockchain gaming firm highlighted in Pokémon’s app update, Filipino Pope blessed on Polymarket, Korean software developer’s alleged Bitcoin slush fund, and more.
Crypto AI tokens surge 34%, why ChatGPT is such a kiss-ass: AI Eye
The crypto AI sector grew by more than one-third in the past two weeks, robot butlers are here, and how ChatGPT could save your life.
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Cointelegraph Magazine writers and reporters contributed to this article.
