Author: dfmines

Trump just obliterated the IRS’s controversial DeFi reporting mandate, turbocharging crypto innovation and slamming the brakes on overreaching tax surveillance in decentralized finance. Trump Nukes IRS DeFi Rule With Pen Stroke—Crypto’s Future Just Got Rewritten President Donald Trump finalized a significant regulatory rollback Thursday by signing H.J.Res.25 into law at the White House, officially overturning […]

Swiss asset manager 21Shares has openly endorsed Dogecoin, stating that the cryptocurrency has developed a long way from its origins as an online meme. The company cited Dogecoin’s whopping 130,000% price appreciation over the last decade as evidence of its longevity within the turbulent crypto space. Related Reading: XRP ETF Launch Impresses Even In Bear Market, Says Analyst Meme Currency Sees Serious Growth What began as an online joke in 2013 has become what 21Shares refers to as a “movement” in the crypto space. Dogecoin’s performance, the asset manager says, speaks for itself. The coin has recorded an annual growth rate of 125% since its inception, making it the best performer among the market’s top 25 largest cryptocurrencies by market cap. The growth is not just in value. User adoption has nearly doubled in recent years, with wallet addresses rising from 44 million to 84 million in four years. Such rapid growth shows that more people are holding and using the cryptocurrency despite its lighthearted origin. Dogecoin isn’t just a meme—it’s a movement. With 130,000%+ returns, a $30B market cap, and 84M+ wallets, DOGE is rewriting what value means in the digital age. Explore how culture, community, and memes drive this phenomenon. Read the full blog → https://t.co/wNFYdM2pjS pic.twitter.com/ojfYEkVCwQ — 21Shares (@21Shares) April 10, 2025 ETF Filing Marks Major Step For Dogecoin The Swiss company recently submitted an S-1 form to the US Securities and Exchange Commission for a Dogecoin ETF. The filing is a significant step forward for cryptocurrency, which began life as a prank. If accepted, the ETF would allow ordinary investors to own exposure to Dogecoin without buying or owning the cryptocurrency itself. According to regulatory filings, the new fund would be commodity-based, providing an alternative method of bringing Dogecoin into portfolios using traditional investment vehicles. 21Shares Announces Partnership With Dogecoin Foundation 21Shares also announced that it has partnered with the House of Doge, the official business entity of the Dogecoin Foundation. From reports, the partnership is said to further entrench Dogecoin with conventional financial systems. Related Reading: Bitcoin Bulls Crushed: $500 Million Liquidation Shakes Market Confidence The alliance brings a new legitimacy to the currency, with traditional financial institutions now viewing it as a legitimate asset class and not merely an internet fad. Institutional support may entice more risk-averse investors who shunned the meme-coin in the past. New Exchange-Traded Product Launches With Physical Backing In a further demonstration of its dedication to Dogecoin, 21Shares has introduced an exchange-traded product fully supported by the Dogecoin Foundation. This investment product will be collateralized by real Dogecoin in a 1:1 ratio, such that every share equates to holding real cryptocurrency in cold storage. The firm will charge a management fee of 0.25% for this product, which is fairly competitive against peer cryptocurrency investment products. This physical backing model provides investors with confidence that their investment holds a real-world basis in the form of coins and not synthetic derivatives. Featured image from Unsplash, chart from TradingView

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Ethereum price started a fresh increase above the $1,550 zone. ETH is now correcting gains from $1,680 and finding bids near the $1,500 level. Ethereum started a decent increase above the $1,550 and $1,600 levels. The price is trading below $1,580 and the 100-hourly Simple Moving Average. There is a new connecting bearish trend line forming with resistance at $1,550 on the hourly chart of ETH/USD (data feed via Kraken). The pair could start a fresh increase if it clears the $1,580 resistance zone. Ethereum Price Trims Gains Ethereum price formed a base above $1,400 and started a fresh increase, like Bitcoin. ETH gained pace for a move above the $1,480 and $1,550 resistance levels. The bulls even pumped the price above the $1,600 zone. A high was formed at $1,687 and the price recently started a downside correction. There was a move below the $1,600 support zone. The price dipped below the 50% Fib retracement level of the upward move from the $1,385 swing low to the $1,687 high. Ethereum price is now trading below $1,580 and the 100-hourly Simple Moving Average. On the upside, the price seems to be facing hurdles near the $1,550 level. There is also a new connecting bearish trend line forming with resistance at $1,550 on the hourly chart of ETH/USD. The next key resistance is near the $1,580 level. The first major resistance is near the $1,620 level. A clear move above the $1,620 resistance might send the price toward the $1,680 resistance. An upside break above the $1,680 resistance might call for more gains in the coming sessions. In the stated case, Ether could rise toward the $1,750 resistance zone or even $1,800 in the near term. More Losses In ETH? If Ethereum fails to clear the $1,580 resistance, it could start a downside correction. Initial support on the downside is near the $1,520 level. The first major support sits near the $1,500 zone and the 61.8% Fib retracement level of the upward move from the $1,385 swing low to the $1,687 high. A clear move below the $1,500 support might push the price toward the $1,455 support. Any more losses might send the price toward the $1,420 support level in the near term. The next key support sits at $1,380. Technical Indicators Hourly MACD – The MACD for ETH/USD is losing momentum in the bullish zone. Hourly RSI – The RSI for ETH/USD is now below the 50 zone. Major Support Level – $1,500 Major Resistance Level – $1,580

New Hampshire’s House and Florida’s House insurance and banking committee have respectively advanced bills allowing their states to create Bitcoin reserves.New Hampshire’s House passed its Bitcoin reserve bill, HB302, in a 192-179 vote on April 10 which will now head to the Senate. The state is now the fourth to pass a Bitcoin (BTC) reserve bill through one chamber, joining Arizona, Texas and Oklahoma.If HB302 clears New Hampshire’s Senate and Governor Kelly Ayotte signs it into law it would allow the state’s treasurer to use 10% of the state’s general fund and other authorized funds to invest in precious metals and certain digital assets. The bill also sets out how they should be custodied.The bill specifies that only cryptocurrencies with a market capitalization of over $500 billion would be eligible for investment, a criteria that only Bitcoin currently meets.New Hampshire’s House votes to pass HB302, the state’s Bitcoin reserve bill. Source: New Hampshire House of RepresentativesIn a debate prior to the vote, Democrat Representative Terry Spahr argued that the bill is unnecessary and could undermine the future security of the state’s digital assets stockpile. “Unbeknownst to the committee and to the sponsor […] the treasurer testified that they already have that authority,” Spahr said. He added that cryptocurrency is “constantly shifting and changing, and it’s sort of dangerous to be kind of locked into certain types of security measures, and I think that bill does this.”Republican Representative Jordan Ulery countered that the bill was necessary as it could create the “potential for a large amount of money being earned by the state in these investments.”New Hampshire has two other blockchain-related bills working their way through the legislature — HB310, which covers stablecoins and real-world asset tokenization (RWA) and HB 639, which deals with blockchain regulation and dispute resolution.Florida House Committee passes Bitcoin reserve bill Meanwhile on April 10, Florida’s House Insurance and Banking Committee passed the state’s Bitcoin reserve bill, HB487, with a unanimous vote.The bill has three committees to clear before it progresses to Florida’s House.WATCH: Florida House Committee PASSES Bitcoin Reserve BillThe Insurance and Banking Committee passed HB 487 unanimously todayIncluding moving testimony from bill sponsor Rep. Webster Barnaby pic.twitter.com/myAlNvtFl9— Bitcoin Laws (@Bitcoin_Laws) April 10, 2025Similar to New Hampshire’s bill, HB487 would allow Florida’s chief financial officer and the State Board of Administration to invest up to 10% of certain state funds — including the General Revenue Fund and the Budget Stabilization Fund — into Bitcoin.The bill’s sponsor, Republican Representative Webster Barnaby pleaded with the Committee before the vote “to vote up on this very important bill” which he claimed would “put Florida in the leading edge of this very new technology.”Related: US federal agencies to report crypto holdings to Treasury by April 7Florida’s bill gives the state’s financial chief the ability to invest in digital assets directly, through certain qualified custodians, or through exchange-traded products and details security and custody requirements.According to Bitcoin Laws, which tracks the progress of digital assets legislation, Arizona is currently leading the race to become the first US state to establish a strategic Bitcoin reserve. Source: Bitcoin LawsOn March 24, two digital assets reserve bills, SB1373 and SB1025, cleared Arizona’s House Rules Committee and are now headed to the state’s House for a full floor vote. If passed by the House, the bills would then need the signature of Arizona’s Democratic governor, Katie Hobbs to become law.Magazine: Financial nihilism in crypto is over — It’s time to dream big again

New York hits Block with a $40 million fine and mandates independent oversight after major compliance failures in Cash App’s bitcoin and fiat transaction monitoring. NY Regulator Unleashes Oversight Blitz on Block After Missed Red Flags and AML Gaps New York State’s Department of Financial Services (DFS) announced on April 10 that Block Inc. will […]

Bitcoin price started a fresh increase above the $80,000 zone. BTC is now correcting gains and might struggle to stay above the $79,500 support. Bitcoin started a fresh increase above the $80,000 zone. The price is trading above $79,500 and the 100 hourly Simple moving average. There is a new connecting bearish trend line forming with resistance at $80,500 on the hourly chart of the BTC/USD pair (data feed from Kraken). The pair could start another increase if it clears the $80,500 zone. Bitcoin Price Dips Again Bitcoin price started a fresh increase above the $77,500 zone. BTC formed a base and gained pace for a move above the $79,500 and $80,000 resistance levels. The bulls pumped the price above the $82,500 resistance. A high was formed at $83,548 and the price recently started a downside correction. There was a move below the $81,500 support. The price dipped below the 23.6% Fib retracement level of the upward move from the $74,572 swing low to the $83,548 high. Bitcoin price is now trading above $79,200 and the 100 hourly Simple moving average. On the upside, immediate resistance is near the $80,500 level. There is also a new connecting bearish trend line forming with resistance at $80,500 on the hourly chart of the BTC/USD pair. The first key resistance is near the $81,500 level. The next key resistance could be $82,500. A close above the $82,500 resistance might send the price further higher. In the stated case, the price could rise and test the $83,500 resistance level. Any more gains might send the price toward the $85,000 level. More Losses In BTC? If Bitcoin fails to rise above the $80,500 resistance zone, it could continue to move down. Immediate support on the downside is near the $79,500 level. The first major support is near the $79,000 level and the 50% Fib retracement level of the upward move from the $74,572 swing low to the $83,548 high. The next support is now near the $78,000 zone. Any more losses might send the price toward the $76,500 support in the near term. The main support sits at $75,000. Technical indicators: Hourly MACD – The MACD is now losing pace in the bullish zone. Hourly RSI (Relative Strength Index) – The RSI for BTC/USD is now above the 50 level. Major Support Levels – $79,500, followed by $79,000. Major Resistance Levels – $80,500 and $81,500.

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Charles Hoskinson, who co-founded Ethereum and now leads the Cardano blockchain, has projected that Bitcoin could reach a price of $250,000 by the end of this year or next year. His prediction, made during a CNBC interview, comes despite the recent slump in the wider financial markets including crypto. Why Bitcoin Will Hit $250,000 Within Less Than 2 Years Hoskinson emphasized that rising geopolitical tensions and evolving trade dynamics are creating supportive conditions for decentralized networks like Bitcoin. Speaking on a world that appears to be “moving from a rules-based international order to a great powers conflict,” he suggested this shift would highlight the limitations of traditional banking and trade systems, steering more transactions toward cryptocurrencies. “If Russia wants to invade Ukraine, it invades Ukraine. If China wants to invade Taiwan, it’s going to do that. So treaties don’t really work so well, and global business doesn’t really work so well there. So your only option for globalization is crypto,” Hoskinson told CNBC. He also noted the significant sell-off in crypto and other risk assets, a trend that has partially stemmed from US President Donald Trump’s reciprocal tariffs on countries worldwide. Bitcoin dipped below $77,000 over the last week before briefly surpassing $83,000 on Wednesday, and remains considerably lower than its record high above $100,000 set in January. Still, Hoskinson’s confidence stands: “No, I think Bitcoin will be over $250,000 by the end of this year or next year.” Among the factors that might drive such a dramatic price surge, Hoskinson pointed to the Federal Reserve possibly lowering interest rates in response to market pressures. “Then you’ll have a lot of fast, cheap money, and then it’ll pour into crypto,” he said, explaining how additional liquidity could lead to renewed interest in digital assets. The potential for big tech companies such as Microsoft and Apple to enter the crypto space also figures into his bullish outlook. Another component of Hoskinson’s optimism lies in the prospect of new legislation. He singled out anticipated stablecoin legislation as well as the Digital Asset Market Structure and Investor Protection Act, both of which are currently making their way through Congress. He believes these regulatory moves could streamline the crypto market and pave the way for institutional adoption. Stablecoins, which are pegged to fiat currency and backed by real-world assets, may prove especially attractive to major technology companies looking to facilitate rapid, cost-effective global transactions. “The stablecoin bill in particular could lead the ‘Magnificent 7’ companies to begin adopting the assets,” he added, referring to Apple, Microsoft, Amazon, and other mega-cap tech giants. Hoskinson further argued that once these regulatory frameworks become clearer, the market will likely “stall for probably the next three to five months,” before “a huge wave of speculative interest” re-enters the space around late summer or fall. That renewed enthusiasm, combined with a more settled geopolitical landscape and a stable regulatory environment, could, in his view, push Bitcoin’s price as high as $250,000. At press time, BTC traded at $81,138. Featured image from YouTube, chart from TradingView.com