Top Stories of The Week
New SEC Chair ‘Will Benefit Bitcoin’ — Michael Saylor
Michael Saylor, CEO of major Bitcoin holder Strategy (previously MicroStrategy), endorsed the new US Securities and Exchange Commission (SEC) Chair, Paul Atkins. In a post on April 23, Saylor remarked that “SEC Chairman Paul Atkins will be good for Bitcoin,” following Atkins’ inauguration as the 34th SEC chair on April 21.
Blue Macellari, head of digital assets at T. Rowe Price, echoed this sentiment in a Bloomberg interview, expressing optimism about the SEC’s new approach, particularly its engagement with the crypto sector through nearly six or seven roundtables with industry professionals.
Trump Memecoin Team Denies $300K Dinner Requirement Rumors
The team behind US President Donald Trump’s memecoin refuted claims circulating online that holding the Official Trump token necessitates an investment of at least $300,000 to join an event with the president. On April 25, the official X account clarified that no such financial requirement exists for the dinner featuring Trump.
This rumor emerged from community observations noting the Solana blockchain explorer, which indicated a holder had over $400,000 in TRUMP tokens. However, the memecoin team stated the explorer does not accurately represent their participation criteria.
Serbia’s Prince Filip Remarks on Bitcoin’s Potential
According to Prince Filip Karađorđević of Serbia and Yugoslavia, Bitcoin’s price may be facing suppression before what he terms an “omega candle” rally. In an interview with Simply Bitcoin on April 24, he suggested that some market players might be manipulating Bitcoin’s price, referencing possible patterns from the 2021 market.
Filip emphasized that Bitcoin remains a fundamentally deflationary asset, asserting that its value is “always going to rise over time.”
Sam Bankman-Fried Transferred to Lower-Security Prison
Sam Bankman-Fried, co-founder of the collapsed crypto exchange FTX, was relocated to a low-security federal correctional institution known as Terminal Island. Previously held at the Victorville medium-security facility, which has a reputation for violence, he was reportedly in a safer section there, according to prison consultant Elizabeth Franklin-Best.
Riot Platforms Secures $100M Loan Backed by Bitcoin
Riot Platforms has collateralized its significant Bitcoin reserves to secure a $100 million credit facility from Coinbase, marking its initial Bitcoin-backed loan, as stated by CEO Jason Les on April 23. The funds will support corporate operations and strategic growth initiatives, with the loan set to mature in one year but potentially extendable.
Winners and Losers in the Crypto Market
As the week closes, Bitcoin (BTC) stands at $94,738, Ether (ETH) at $1,789, and XRP at $2.18, with a total market capitalization of $2.96 trillion, according to CoinMarketCap. The top three altcoin gainers include OFFICIAL TRUMP (TRUMP) at 71.78%, Sui (SUI) at 66.94%, and Bonk (BONK) at 64.21%. Conversely, the major losers are DeXe (DEXE) at 5.58%, UNUS SED LEO (LEO) at 3.12%, and PAX Gold (PAXG) at 1.12%.
