ParaSwap DAO members were split, with some supporting the conditional return of the fees and others voting against the refund.
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US Continues to Raise Debt Ceiling: What It Means for Crypto
Amid global economic volatility, the United States has again raised its debt ceiling to avert a default and ensure the government’s operations continue smoothly.
The US debt ceiling is a legal limit on the amount the federal government can borrow to meet its financial obligations, including pension payments, social welfare programs like Social Security and Medicare, and interest on government bonds.
US Debt Ceiling Increase
Raising the debt ceiling remains contentious, often sparking heated debates between Congress and the White House. Negotiations over spending and budgets are typically prolonged and complex.
According to data from the Senate Joint Economic Committee (JEC), the US national debt has surpassed $36.2 trillion as of April 2025. This marks a significant rise from $22 trillion in March 2019, highlighting the rapid escalation of national debt in recent years.
Historically, raising the debt ceiling is not uncommon. According to NPR, since 1960, Congress has acted 78 times to increase, temporarily extend, or revise the debt ceiling definition—49 times under Republican and 29 times under Democratic presidents. This reflects the recurring need to adjust the ceiling to maintain government functionality, but it also raises questions about the long-term sustainability of US fiscal policy.
Under President Donald Trump’s administration, bold economic policies are being implemented, including using tariff revenues to service debt. Trump has imposed a 125% tariff on Chinese goods, prompting retaliatory 84% tariffs from China on the US. imports.
Consequently, the Chinese yuan (CNY) has hit an 18-year low, with the USD/CNY rate reaching 7.394. The yuan’s depreciation escalates trade tensions and ripple effects across cryptocurrency markets.
Impact on Crypto
The increase in the US debt ceiling has multifaceted implications for the crypto market, both in the short and long term.
Raising the debt ceiling helps the US avoid default, preventing a potential global financial crisis. This often reassures investors, boosting confidence in traditional financial markets like stocks and US Treasury bonds. As a result, demand for safe-haven assets like Bitcoin—usually viewed as a hedge during economic uncertainty—may decline.
Historical trends support this. During past debt ceiling crises, such as in 2021, Bitcoin prices surged as investors feared a US default. However, the pressure eased once the ceiling was raised, prompting some investors to shift capital back to traditional assets. This can create downward price pressure on Bitcoin and other altcoins.
Additionally, a weaker yuan due to US policies could drive capital from China into cryptocurrencies, potentially providing a positive push for the market.
Continually raising the debt ceiling allows the US government to borrow more to fund spending, often leading to increased money printing or issuance of Treasury bonds. This process expands the money supply, fueling inflation and eroding the US dollar’s value.
Cryptocurrencies, particularly Bitcoin, are often regarded as an “inflation hedge” due to their fixed supply and decentralized nature. Investors increasingly turn to alternative assets to preserve wealth as the dollar weakens. Bitcoin, often dubbed “digital gold,” has proven its resilience during past economic instability.
The increase in the US debt ceiling has a complex impact on cryptocurrencies. In the short term, it may reduce demand for safe-haven assets like Bitcoin as confidence in traditional markets grows.
However, in the long term, persistent debt ceiling hikes could drive inflation and weaken the dollar, positioning cryptocurrencies as a compelling hedge and alternative asset class.
The post US Continues to Raise Debt Ceiling: What It Means for Crypto appeared first on BeInCrypto.
Bybit Expands Into US Stocks and Commodities to Attract Institutional Investors
Crypto exchange Bybit is broadening its scope beyond digital assets as it prepares to launch new trading options, including US equities, commodities, and indices.
The exchange, known for its crypto leverage products, aims to introduce these offerings before the end of the current quarter.
Trump-Era Pro-Crypto Policies Fuel Bybit’s Move Into Equities
On May 3, Bybit CEO Ben Zhou confirmed the development during a Livestream event. He noted that users will soon be able to trade instruments such as gold, crude oil, and leading US stocks like Apple and MicroStrategy.
These additions significantly shift Bybit’s product strategy and reflect the platform’s ambition to serve a wider set of retail and institutional investors.
The trading features will integrate with Bybit’s current infrastructure. This includes the MetaTrader 5 (MT5) platform, which already supports leveraged gold trading. Users can access up to 500x leverage on select instruments, a feature that appeals to high-risk traders.
Notably, gold and oil trading have been available on the platform in a limited form. So, adding US stocks poses a more direct challenge to platforms like Robinhood, which merge crypto with traditional finance.
Meanwhile, Bybit’s move reflects a larger trend in the financial industry where the boundaries between crypto-native platforms and traditional brokerages are becoming less defined.
In recent months, several traditional trading platforms have signaled interest in offering crypto products. At the same time, exchanges like Bybit are adding traditional assets to match investor demand.
The shift also follows growing policy support for digital assets under President Donald Trump’s current administration.
Trump has adopted a more favorable stance toward crypto innovation. This has resulted in a policy environment that is driving firms like Bybit to diversify and remain competitive.
Meanwhile, this product expansion move follows a major security breach in February. The platform was recently targeted in an exploit that resulted in the theft of 500,000 ETH, valued at approximately $1.5 billion.
Zhou acknowledged that a portion of the stolen funds—roughly 28%—have become untraceable due to the attacker’s laundering efforts. However, the exchange is working with the broader community to trace the remaining funds.
Despite this setback, Bybit appears to be regaining momentum.
According to data from BeInCrypto, user activity and trading volume are climbing back to levels seen before the exploit, suggesting that confidence in the platform is returning.
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Ethereum Whales are Coming Back as ETFs Show Net Inflow After 8-Weeks
Ethereum’s major holders are returning to the market. Amid the past week’s market consolidation, major players have seized the opportunity to accumulate ETH aggressively.
On-chain data reveals an uptick in whale holdings, while ETH-based exchange-traded funds (ETFs) recorded their first weekly net inflow in eight weeks, signaling a significant shift in sentiment.
ETH Whale Accumulation and ETF Inflows Hint at Imminent Price Surge
According to on-chain data, leading altcoin ETH has noted a significant spike in its large holders’ netflow over the past week. According to the on-chain data provider, this has rocketed 2682% in the past seven days.
Large holders of an asset refer to whale addresses holding more than 0.1% of its circulating supply. The large holders’ netflow metric tracks the difference between the coins these investors buy and the amount they sell over a specific period.
When an asset’s large holders’ netflow surges, its whale investors are ramping up their coin accumulation. This accumulation trend suggests a belief in ETH’s future upside, as major holders tend to act when they see value at current price levels.
Adding to the bullish narrative, ETH-backed ETFs recorded their first weekly net inflow in eight weeks. According to SosoValue, net inflows into ETH-backed ETFs reached $157.09 million between April 21 and April 25, reversing an eight-week streak of outflows totaling over $700 million.
With major players re-entering the market, ETH could be poised for further upside in the near term.
Ethereum Sees Bullish Momentum
On the technical side, ETH’s positive Balance of Power (BoP) highlights the resurgence in demand for the leading altcoin. This is currently at 0.31.
This indicator measures the buying and selling pressure of an asset. When its value is positive, pressure outweighs selling pressure. This indicates strength in the ETH’s price movement and signals further potential upward momentum. If this happens, ETH could rally back above $2,000 to exchange hands at $2,027.
However, if market sentiment worsens, ETH could shed recent gains and plummet to $1,385.
The post Ethereum Whales are Coming Back as ETFs Show Net Inflow After 8-Weeks appeared first on BeInCrypto.