According to a recent survey by Brown Brothers Harriman, 71% of ETF investors wish to invest more in crypto this year. This bullish signal comes as the crypto ETF market is beginning to recover from recent volatility.
The firm is one of the oldest and most prestigious investment banks in the US, adding credibility to its claims. This data also aligns with other surveys that suggest wealthy investors are interested in Bitcoin.
Crypto ETFs Are Becoming Popular Among TradFi Investors
According to a new survey from Brown Brothers Harriman, 71% of ETF investors are planning to further their allocations into crypto.
“Good news for the crypto crowd, 71% [of surveyed investors] said they aim to increase their allocation to crypto ETFs in the next 12 months.. That’s higher than I would have thought, I’d have guessed 40-50% and i’m pretty bullish on this space, relatively speaking,” claimed Eric Balchunas, a prominent ETF analyst.
Brown Brothers Harriman is one of the oldest and most prestigious investment banks in the US, and its survey is a credible indicator of ETF sentiment. Additionally, other recent surveys have drawn similar conclusions.
Meanwhile, Bitcoin ETFs have largely recovered this week after seeing net outflow for five consecutive weeks. At the same time, more asset managers are filing diverse ETF applications with the SEC. Given the current positive sentiment among institutional investors, the long-term outlook is likely to be bullish for such funds.
Cardano’s price has surged by almost 10% over the past week amid the current broader market recovery. This surge is fueled by Cardano’s increasing network activity and long-term holding trends, indicating growing investor confidence.
With the broader market in recovery mode and on-chain fundamentals strengthening, ADA’s current setup suggests the potential for a sustained upside.
ADA Accumulation Grows as Traders Show Strong Conviction
ADA’s demand has soared over the past week, as reflected by the steady surge in the daily count of active addresses on the Cardano network. According to IntoTheBlock, this has risen by 12% over the past seven days, indicating a gradual uptick in the demand for the Layer-1 coin.
This trend is a bullish signal, as it highlights growing investor interest in ADA and could drive its sustained price rally.
Moreover, new demand for the altcoin has also climbed. According to IntoTheBlock, the number of new addresses on the Cardano network has increased by 5% during the review period.
When ADA sees a gradual increase in new demand like this, it indicates the entry of new investors or traders into the market. This leads to higher trading volumes and liquidity, which in turn drives up the coin’s price.
Further, ADA investors have increased their holding time, signaling that the bullish momentum toward the altcoin is growing. According to IntoTheBlock, it has increased by 78% over the past week.
An asset’s holding time measures the average duration its coins/tokens are held before being sold or transferred. This bullish trend marks an ADA accumulation phase, with traders less inclined to sell.
It reflects strong investor conviction, as ADA investors choose to hold on to their coins rather than sell. Also, it could help reduce the selling pressure in the ADA market, driving up its value in the short term.
ADA Bulls Target Higher Gains
ADA trades at $0.76 as of this writing, extending its gains by 4% over the past day. On the daily chart, the coin’s Relative Strength Index (RSI) is in an upward trend at 52.11, confirming the buying activity.
The RSI indicator measures an asset’s overbought and oversold market conditions. It ranges between 0 and 100, with values above 70 indicating that the asset is overbought and due for a decline. Conversely, values below 30 indicate that an asset is oversold and due for a rebound.
At 52.11 and climbing, ADA’s RSI readings suggest strengthening bullish momentum as buying pressure builds. If accumulation continues, the coin’s price could reach $0.97.
South Korea has pushed Google to restrict access to 17 foreign trading platforms, including KuCoin and MEXC.
The crackdown, which took effect on March 25, is part of the country’s ongoing efforts to regulate the crypto industry and safeguard local investors.
Here’s Why the South Korean Government Took Action
South Korea’s top financial regulator, the Financial Services Commission (FSC), confirmed that Google Play had removed KuCoin and MEXC, among 15 other exchanges, from its platform. The move makes it impossible for new users to install the apps.
“Since March 25, at the request of the South Korean government, Google has implemented domestic access restrictions on 17 exchanges that are not registered in South Korea. Users cannot install new related applications or update them, including KuCoin, MEXC, Phemex, XT, Biture, CoinW, CoinEX, ZoomEX, Poloniex, BTCC, DigiFinex, Pionex, Blofin, Apex Pro, CoinCatch, WEEX, and BitMart,” Wu Blockchain reported.
Existing users are also unable to update them, further limiting their accessibility. According to the FSC, these platforms failed to register under South Korean law while actively targeting local traders. With this, they effectively violated the country’s regulatory requirements.
South Korea has some of the world’s strictest crypto regulations, and authorities have been increasingly aggressive in enforcing them. Under the Specific Financial Transaction Information Reporting and Use Act, any foreign virtual asset service provider (VASP) operating in South Korea must register with the country’s Financial Intelligence Unit (FIU).
The FSC emphasized that this latest measure aims to prevent financial crimes such as money laundering and protect investors from potential fraud. The regulator outlined the criteria to determine whether an exchange was operating illegally in the country.
These included offering a Korean-language website, actively marketing to local users, and supporting transactions in Korean won.
While this enforcement action is significant, it is not the first time South Korean authorities have taken a hard stance against foreign exchanges. In 2022, the FIU identified and restricted 16 unregistered platforms, followed by another six in 2023.
The latest crackdown signals regulators are doubling their efforts to bring the crypto market under stricter oversight.
Upbit Exchange To Grow Market Edge
With major international exchanges facing restrictions, the dominance of local platforms like Upbit has only strengthened. The exchange controls a significant share of South Korea’s crypto trading market.
BeInCrypto recently reported that over 30% of South Korea’s population trades cryptocurrency. Upbit processes the bulk of these transactions. This latest move against foreign exchanges could further consolidate Upbit’s position in the market, making it the go-to platform for retail and institutional investors.
“South Korea isn’t playing when it comes to crypto regulations. This move [blacklisting 17 exchanges] puts a real hurdle in front of traders using these exchanges,” one user remarked.
Upbit Dominates South Korean exchanges in Trading volume. Source: CoinGecko
By enforcing compliance measures and weeding out unregistered players, the government is creating a more structured environment that may attract traditional financial (TradFi) institutions looking for regulatory clarity before investing in digital assets.
The country has also been taking steps to delay taxation on crypto investments, which signals a more balanced approach that seeks to encourage growth in the sector while ensuring investor protection.
The crypto market is finally improving, and that too at a steady pace, which is imbuing investors with confidence. This bullishness is also reflected in the growth of the altcoins, with some even making their way to new highs.
BeInCrypto has analyzed three such altcoins that formed a new all-time high today and whether their uptrend will continue.
Solayer (LAYER)
LAYER has surged by 23% in the last 24 hours, reaching $1.41 at the time of writing. The altcoin also reached a new all-time high (ATH) of $1.47 during the intra-day highs. This rise signals strong market interest and positive momentum for the cryptocurrency in the short term.
Given the current green candlestick, LAYER is likely to continue its upward trend. If the altcoin breaks past its ATH of $1.47, it could easily push past the $1.50 mark. This would indicate a continued bullish phase for LAYER as the price gains momentum toward higher levels.
However, if the price falls to $1.20 or lower, the bullish outlook will be invalidated. A drop to $0.95 would result in the loss of recent gains, signaling a shift to bearish sentiment. This potential decline could slow LAYER’s momentum and lead to further price corrections.
Cheems (CHEEMS)
CHEEMS has seen an impressive 133% rise month-to-date, reaching a new all-time high (ATH) of $0.000002179. However, the altcoin has since retraced and is currently trading at $0.000001952. This price action signals potential volatility, but the recent ATH highlights the coin’s strong market interest.
If CHEEMS fails to sustain its uptrend, it could slide toward the critical support level of $0.000001461. A bounce from this level could provide CHEEMS with another opportunity to attempt forming a new ATH. This rebound would indicate that the bullish trend is still in play.
However, if the $0.000001461 support is breached, CHEEMS could experience further declines. The next support level is at $0.000001132, and falling below this would invalidate the bullish outlook, erasing the recent gains.
Saros (SAROS)
SAROS has shown consistent growth throughout the month, trading at $0.055. During an intra-day rise, it reached a new all-time high (ATH) of $0.057, signaling positive market interest. This continued upward momentum could help drive SAROS to even higher levels, further encouraging investor confidence.
If the broader market cues remain strong, SAROS is likely to maintain its uptrend. The price could break through the $0.060 resistance level, extending its gains. This would signal sustained bullish sentiment and potentially attract more investors, pushing the altcoin to new highs.
However, if the market momentum reverses, SAROS may struggle to hold on to its gains. A pullback to $0.046 is possible, and losing this support would invalidate the bullish thesis. In this case, SAROS could fall further to $0.034, signaling a deeper price correction.
Bitcoin is stepping beyond its role as a store of value and into DeFi. BTCFi is bringing lending, staking, and yield opportunities directly to the Bitcoin network without middlemen. This shift not only unlocks new financial use cases for Bitcoin holders but also helps secure the network by keeping miners incentivized.
To understand where BTCFi stands today and where it’s headed, BeInCrypto spoke with industry leaders from 1inch, exSat, Babylon and GOAT Network. They shared insights on the current landscape, key challenges, and what’s needed for BTCFi to reach its full potential.
Key trends and explosive growth in 2024
The year 2024 marked a pivotal period for BTCfi, characterized by remarkable growth metrics. According toDefiLlama, the Total Value Locked (TVL) in Bitcoin-based DeFi protocols experienced an unprecedented surge, escalating from $307 million in January to over $6.5 billion by December 31, 2024, a staggering increase of more than 2,000%. This surge reflects a burgeoning interest and confidence in Bitcoin’s DeFi capabilities.
BTCFi’s growth is driven by a mix of institutional adoption, market performance, and technological advancements. The approval of Bitcoin ETFs has fueled institutional interest, pushing BTCFi’s total value locked (TVL) higher. Major exchanges like Binance and OKX are integrating BTCFi services, improving accessibility and liquidity. Bitcoin’s strong market performance, hitting an all-time high of $108,268 in December 2024 before closing at $93,429, has further boosted confidence.
Source: Glassnode
At the same time, innovations like Bitcoin-native assets, wrapped BTC, and staking solutions are expanding Bitcoin’s role in DeFi. Projects such as exSat, GOAT Network, Babylon and 1inch are leading the way with new protocols that enhance Bitcoin’s DeFi potential.
As BTCFi continues to evolve, one fundamental truth remains unchanged – demand for Bitcoin itself. Kevin Liu, co-founder of GOAT Network, encapsulates this sentiment: “All of us want more BTC, because it’s the king of all tokens. Whichever projects succeed in delivering real BTC yield will flourish, because they’re giving people exactly what they want. This is true now, and it will be true 3-5 years from now.”
Shalini Wood, CMO of Babylon, captures this shift, stating: “We’re seeing a shift where Bitcoin is no longer just something you HODL. Innovations in Bitcoin staking, lending, and trustless interoperability will define the next wave of BTCFi. BTCFi will evolve beyond traditional DeFi models, leveraging Bitcoin’s security to support sovereign applications, cross-chain liquidity, and more scalable, trust-minimized financial products. The goal is to carve out a distinct, Bitcoin-native approach that enhances security and decentralization across the entire crypto ecosystem.”
Tristan Dickinson, CMO exSat Network: “Enabling Bitcoin yield and DeFi-based strategies without sacrificing control of native Bitcoin is crucial. Bitcoin has fulfilled its original purpose as a store of value, evolving it into a tool for value creation requires meeting some very specific criteria: preserving native Bitcoin security, ensuring interoperability between ecosystems, and supporting complex smart contracts.
At the same time, regulatory developments in the U.S. are reshaping the BTCFi landscape. The prospect of a government-backed Bitcoin reserve lends legitimacy to BTC as a financial asset, potentially attracting institutional investors. However, as Sergej Kunz, co-founder of 1inch, points out, regulation remains a double-edged sword: “Some policies support innovation, while others could tighten controls on BTCFi. Clear regulations on existing DeFi and smart contracts will be crucial for its growth.”
The next phase of BTCFi will be defined by the balance between innovation and regulation. While Bitcoin’s decentralized nature makes it resistant to government interference, regulatory clarity could provide the stability needed for mainstream adoption. The question remains — will policymakers embrace BTCFi as a transformative financial force, or will they attempt to contain its potential?
How Much Starting Capital Do You Really Need?
The world of Bitcoin Finance (BTCFi) is evolving rapidly, offering opportunities for both institutional investors and everyday users. But how much capital do you actually need to get started?
Shalini Wood, emphasizes that “BTCFi is not just about individual participation—it’s about unlocking capital efficiency for Bitcoin at scale. BTCFi is designed to maximize security and reward opportunities while keeping Bitcoin’s core principles intact.” Platforms like Babylon, which holds “$4.4 billion in Total Value Locked (TVL),” are driving liquidity and accessibility.
One of the most significant advantages of BTCFi is its accessibility. Traditional finance often has high entry barriers, requiring investors to put down substantial capital to participate in meaningful ways. In contrast, BTCFi allows users to start with much smaller amounts, thanks to the efficiency of Bitcoin sidechains and second-layer solutions.
Sergej Kunz, highlights this shift, stating that “BTCFi platforms have low entry barriers, with some allowing participation with as little as $100 thanks to Bitcoin sidechains like Rootstock and Lightning-based protocols.” This means that retail investors, who may have previously been excluded from financial opportunities, can now leverage Bitcoin’s growing DeFi ecosystem without needing deep pockets.
This low entry threshold is particularly important in regions where traditional banking infrastructure is weak or inaccessible. BTCFi can provide people in emerging markets with new ways to save, earn yield, and access financial services without relying on intermediaries.
Kevin Liu, explains this philosophy: “The best BTCFi solutions won’t require users to be whales; rather, they’ll give both whales and guppies the opportunity to earn real BTC yield. A well-designed BTCFi-focused ecosystem will allot the exact same annual returns (by percentage) to a user who stakes $1 million, vs. another who stakes $100.”
This principle is crucial because it aligns with Bitcoin’s original ethos of financial fairness and open participation. In a world where traditional financial products often favor the wealthy with better interest rates and lower fees, BTCFi is aiming to level the playing field.
Ultimately, whether you’re a small investor or a deep-pocketed institution, BTCFi platforms are increasingly designed to accommodate all levels of participation, ensuring that Bitcoin’s financial ecosystem remains open and rewarding for everyone.
BTCFi: A Gateway to Earning Without Leaving Bitcoin
With the rise of Bitcoin Finance (BTCFi), crypto users now have more ways to earn from their BTC without relying on centralized platforms. “BTCFi is becoming more accessible, enabling users to lend, stake, and trade BTC without relying on centralized platforms,” explains Sergej Kunz. While APR programs and staking options on Ethereum or Solana may offer higher yields, he notes that “BTCFi allows users to earn on BTC without leaving the Bitcoin ecosystem, making it a strong alternative for long-term holders.”
Tristan Dickinson, highlights the rapid expansion of Bitcoin’s Layer 2 ecosystem: “Today, there are over 70+ Bitcoin L2 projects working to expand access to and from the Bitcoin ecosystem, but the ecosystem is immature. Basic DeFi instruments like staking are emerging, yet only a few players, maybe three to five, offer true staking with token and APY programs.”
He emphasizes that Bitcoin DeFi is on an inevitable growth trajectory: “First comes staking, then re-staking, followed by diversified yield, collateralized lending and borrowing, and eventually an explosion in structured financial products. Some projects are leading, others are following.”
exSat’s approach aims to accelerate this evolution by mirroring Bitcoin’s data while integrating it with DeFi innovations. “Creating a mirrored version of Bitcoin with identical (UTXO) data and similar partners is the first true scaling solution for the ecosystem. Combining the best parts of Bitcoin with the most powerful elements of DeFi is the only path to meaningful BTCFi growth,” Dickinson concludes.
As BTCFi continues to mature, its ability to offer decentralized yield opportunities without compromising Bitcoin’s core principles is positioning it as a compelling alternative for long-term BTC holders.
Kevin Liu, highlights the growing divide in user behavior: “We’ll likely see growth in both groups – people who simply buy BTC on centralized exchanges and either leave it alone or maybe ape into limited-time APR promotions on those CEXes, and people who watch centralized exchanges get hacked and/or appreciate the power of ‘not your keys, not your coins’ and thus seek out decentralized options.” As Bitcoin adoption increases, Liu predicts that more users will explore BTCFi solutions to generate yield without handing control of their assets to centralized exchanges.
With Bitcoin remaining “the single most powerful asset since it came into existence 16 years ago,” BTCFi is poised to attract both casual holders and those seeking decentralized earning opportunities, helping drive mass adoption in the process.
BTCFi vs. DeFi on Ethereum and Solana: Key Differences and Similarities
As Bitcoin Finance (BTCFi) continues to evolve, it is increasingly compared to the established DeFi ecosystems on Ethereum and Solana. While all three aim to provide financial opportunities beyond traditional banking, they differ in design, security, and user experience.
Ethereum has long been the dominant force in decentralized finance, known for its robust smart contract capabilities and extensive range of DeFi applications. “Ethereum has encouraged smart contract development and as many DeFi use cases as you can possibly imagine,” explains Kevin Liu. The ecosystem has fostered innovations in lending, automated market-making, and derivatives, making it the go-to platform for developers experimenting with new financial models. However, Ethereum’s strengths also come with challenges, high gas fees and network congestion can limit accessibility for smaller investors.
Solana, on the other hand, was designed with speed and efficiency in mind. Its high throughput and low fees make it an attractive choice for retail users and traders looking for fast execution times. “Solana stands out for its speed and low fees,” notes Sergej Kunz. This efficiency has allowed Solana’s DeFi ecosystem to flourish, with platforms like Raydium, Jupiter, and Kamino providing seamless trading and yield farming experiences. However, the trade-off comes in the form of higher hardware requirements for validators and periodic network outages, which have raised concerns about decentralization and stability.
Bitcoin, in contrast, follows a fundamentally different philosophy. It prioritizes security and decentralization above all else, which historically limited its ability to support complex smart contracts. “BTCFi is built on Bitcoin’s battle-tested PoW security, ensuring minimal trust assumptions and censorship resistance,” says Shalini Wood. Rather than trying to replicate Ethereum’s DeFi model, BTCFi is developing its own distinct approach, leveraging Bitcoin’s unparalleled security while introducing financial applications tailored for BTC holders.
“THORChain, Sovryn, and Stackswap are among the projects offering native BTC DeFi solutions, bridging the gap between Bitcoin’s security and Ethereum’s programmability,” adds SergejKunz. These platforms allow users to engage in decentralized trading and lending while keeping custody of their Bitcoin, avoiding the risks associated with wrapped BTC on other chains. As BTCFi infrastructure matures, it is expected to carve out its own niche, the one that remains true to Bitcoin’s principles while expanding its financial utility.
In the end, while Ethereum, Solana, and Bitcoin each offer unique strengths, BTCFi is proving that Bitcoin is no longer just a passive store of value. It is evolving into a fully functional financial ecosystem, leveraging its unmatched security to create decentralized applications that don’t compromise on decentralization or trust minimization.
With the end of March, Q1 2025 is also coming to a conclusion. This quarter was not the best for the crypto market, with its excessive losses and extreme volatility, similar to how meme coins operate.
Discussing the bane of the meme coin market, Harrison Seletsky, the Director Of Business Development at Digital Identity Platform SPACE ID, talked about the role of a strong investor base.
“Hype can move the price of a memecoin up, but they also collapse just as fast if there is no interest to sustain them, which is usually the case. That’s why it’s so important to filter out the noise as much as possible,” Seletsky noted.
Thus, BeInCrypto has analyzed five meme coins that have stood the test of time and volatility and are preparing for further gains in April.
Fartcoin (FARTCOIN)
FARTCOIN has emerged as one of the top-performing meme coins this month, rising 107% to trade at $0.61. This impressive increase has allowed the meme coin to recover all the losses it faced in March and February.
To recover its January losses, FARTCOIN will need to continue its upward momentum. The key resistance level to watch is $0.69. A successful break above this level and a move toward $1.00 could signal the beginning of a sustained rally, potentially pushing the price higher in the coming days.
However, if FARTCOIN fails to hold $0.69 as support and misses the $1.00 target, it could face a sharp decline. A drop back to $0.37 would erase much of the recent gains, invalidating the bullish outlook. This pullback could shift investor sentiment towards caution, stalling further growth.
Cheems (CHEEMS)
CHEEMS has emerged as one of the top-performing meme coins this month, rising 130% since the beginning of March. Currently trading at $0.000001927, the altcoin has also posted a new all-time high (ATH) of $0.000002179.
The shift in broader market cues toward recovery has likely sparked newfound interest among CHEEMS investors. If the positive trend continues, the meme coin could push toward $0.000002500, further fueling its rally.
However, if the bullish signals begin to fade or if investors start selling their holdings, CHEEMS could face downward pressure. A fall toward the support level of $0.000001660 or lower would invalidate the bullish outlook. This potential decline could halt the altcoin’s growth and shift market sentiment.
Mubarak (MUBARAK)
MUBARAK launched this month and has already experienced notable volatility. The meme coin is up 95% since its launch, with the current all-time high (ATH) at $0.221. This strong early performance reflects investor optimism and a positive market reception for altcoin’s entry into the crypto space.
Currently trading at $0.145, MUBARAK is aiming to break through the resistance levels at $0.149 and $0.173. Successfully clearing these levels would likely lead to a new ATH beyond $0.221. Such a breakthrough would demonstrate continued bullish momentum and attract more investors to the altcoin.
However, if MUBARAK fails to capture sufficient investor attention, the price could dip to $0.130. A further decline could push the altcoin down to $0.118 or $0.105, invalidating the bullish outlook. Such a drop would signal weakening market sentiment and potential setbacks for MUBARAK’s growth.
Dogecoin (DOGE)
Dogecoin has not registered exceptional gains this month but managed to break out of a two-month downtrend. The altcoin rose 22% in a week, trading at $0.203. This recent upward movement signals a potential shift in market sentiment, suggesting that Dogecoin could see more positive momentum.
Given the current market conditions, Dogecoin is likely to continue its gradual uptrend. This momentum could help the altcoin breach the $0.220 resistance and move toward $0.267. If this upward trend continues, Dogecoin could see sustained growth and attract additional investor interest.
However, if Dogecoin fails to breach the $0.220 level, the price may struggle to maintain its upward movement. A failure to hold above this level could lead to a drop toward $0.176 or even $0.147, invalidating the bullish outlook and potentially extending the losses experienced by the altcoin.
Peanut The Squirrel (PNUT)
PNUT has experienced a 17% loss this month but is closer to recovering its losses. Currently trading at $0.221, the meme coin is beginning to show signs of recovery. The altcoin’s recent price movement signals that it may be positioned for potential growth if market conditions improve.
The primary target for PNUT is to breach the $0.260 resistance and flip it into a support level. If successful, this would pave the way for the meme coin to reach the next key resistance at $0.330. A move above $0.260 would signal further bullish momentum for PNUT.
However, if PNUT fails to breach $0.260 and the price struggles to hold, it could fall back to $0.219. A further drop to $0.182 would invalidate the bullish outlook, erasing recent gains and potentially setting the stage for a prolonged downtrend.
In an exclusive interview with BeInCrypto, former US CFTC Commissioner Timothy Massad explains how President Trump’s crypto ventures and political power have significantly overlapped in his first two months at the White House.
Shortly before assuming office for the second time, US President Donald Trump dove head-first into a flurry of crypto experiments. From endorsing World Liberty Financial (WLFI) to launching his meme coin, Trump is raising serious concerns over conflicts of interest. Tim Massad, the 12th CFTC Chairman, who served under Barack Obama, shares his thoughts.
A Historic President For Many Reasons
Before assuming his first term in office in 2016, President Trump broke with modern precedent by departing from established conflict-of-interest norms. A real estate mogul with a trademark for a last name, Trump would be entering the Oval Office as the leader of a multi-billion dollar empire.
While former presidents like Jimmy Carter and George W. Bush took measures to separate themselves from their businesses by placing their assets in a blind trust, the sitting President took a different approach.
Instead, Trump handed day-to-day management decisions over to his sons but did not divest in his ownership stake.
Though he received much backlash during his first term over conflict of interest concerns, Trump refused to relinquish ownership of the Trump Organization before assuming office for the second time.
Given Trump’s favorable stance toward digital asset policy development, players inside and outside the industry have begun to wonder whether his decisions are based on the sector’s best interests or are designed to benefit his own ventures.
How Deep is Trump’s Involvement in World Liberty Financial?
Though Trump does not have a direct role in WLFI, he appears on the whitepaper’s list of supporting teams as “Chief Crypto Advocate.” His three sons, Eric, Donald Jr., and Barron, are also on the list.
Reports further unveiled that the Trump family holds a 75% stake in the platform’s net revenue and a 60% stake in the holding company. At the same time, Trump and his associates own 22.5 billion of the company’s tokens.
For former CFTC Commissioner Tim Massad, despite Trump’s informal role in WLF’s governance, his stake in the platform’s performance raises serious conflicts of interest.
“I think it’s unprecedented and plainly wrong for a President of the United States to engage in commercial ventures or have his family and associates engage in commercial ventures that can be directly influenced by the policies he adopts as President or the statements he makes about those policies,” Massad told BeInCrypto.
Meanwhile, the tokens themselves are non-transferrable, limiting financial flexibility. Though the project aims to provide token holders access to a range of DeFi-related products and services, it has yet to launch them. In the meantime, token holders will have to wait until the time comes to use their tokens.
“I have yet to see any real business case or utility that’s of value to people who invest. So I think it all just has a character of taking advantage of people,” Massad added.
The industry has also grown weary over how WLF and other Trump-endorsed projects could be used to gain the President’s favor.
Industry Leaders Voice Concerns Over World Liberty Financial’s Legitimacy
Shortly before Trump launched World Liberty Financial, many prominent figures in the crypto sector warned that the project could cause Trump further legal troubles. Meanwhile, Alex Miller, CEO of Web3 platform Hiro, described the project as an “obvious pump scheme.”
Meanwhile, Alex Miller, CEO of Web3 platform Hiro, described the project as an “obvious pump scheme.”
Just fucking shoot me
Anyone who thinks this is good for crypto, that it doesn’t make us look like clowns, that it doesn’t set us back YEARS in credibility….
This is such an obvious pump scheme. Maybe he won’t literally rug but he’s just grifting and it’s pathetic pic.twitter.com/8bTGmUfLvG
Other industry leaders, such as Mark Cuban, Max Keiser, and Anthony Scaramucci, also criticized Trump’s decision to proceed with WLF’s token sales. Trump’s involvement in the project heightened fears that crypto’s fragile public image and controversial reputation would be smeared further.
Massad agreed with this last point, adding that crypto policy development is alive and well today more than ever. The ongoing development of stablecoin regulations, open talks of a national crypto strategic reserve, and a Senate-driven digital asset working group are only some of the current institutional initiatives.
“He, the Trump Organization and his family members should not be engaging in commercial ventures that pose such blatant conflicts of interest, given the fact that crypto regulation and things like a potential Bitcoin reserve are important policy issues today. A US president shouldn’t be engaging in these things at all, in my view,” Massad said.
Since the project’s launch six months ago, several examples validating these concerns have emerged. The most notable one has focused on Tron founder Justin Sun.
The move was highly controversial. Despite Trump’s endorsement, WLFI struggled to meet its $30 million fundraising target during its first public sale. The token’s availability was restricted, excluding general trading and limiting purchases to non-US and accredited US investors.
Sun’s investment turned WLFI’s luck around. Soon after that, he also became one of the project’s advisors. Then, on the day of Trump’s inauguration, Sun invested an additional $45 million in the project, bringing the total sum to $75 million.
This investment brought varying degrees of scrutiny. While some questioned his quick transition from investor to advisor, others pointed to Sun’s past as a potential motive for his contributions.
In March 2023, the SEC filed fraud charges and other securities law violations against Sun and his companies. This regulatory baggage has led some industry leaders to question the wisdom of his association with World Liberty Financial.
Meanwhile, Tron’s price soared following Sun’s latest WLF investment. Tron, which had been experiencing lagging prices up until that point, was able to jumpstart its trading activities.
TRON Price Surge Following Sun’s $45 Million Investment in World Liberty Financial. Source: TradingView.
However, these conflicts of interest are not just limited to Sun’s investment.
Zhao could also benefit from an agreement. In 2023, he pleaded guilty to federal charges for failing to implement adequate anti-money-laundering measures at Binance.
Following his plea, Zhao resigned as Binance’s CEO. Motive-driven speculations point toward the possibility of a potential presidential pardon.
For Massad, maneuvers like these are natural when a president directly involves himself in crypto ventures.
“I think there is a huge risk of conflicts of interest and corruption by virtue of the President and people associated with him selling crypto assets—whether that’s through World Liberty Financial or the meme coins. It creates the potential for ongoing conflicts, because people who might want to curry favor with the administration could buy the coins,” Massad told BeInCrypto.
All the while, Trump benefits his crypto ventures every time he makes a pro-crypto announcement.
Is Trump Manipulating the Crypto Market?
A week into March, Trump signed an executive order to establish a Crypto Strategic Reserve and a US Digital Asset Stockpile. In his original announcement, Trump said the reserve would include Bitcoin, Ethereum, and altcoins like XRP, ADA, and SOL.
The crypto market responded immediately, with all five cryptocurrencies posting strong gains. Yet, Trump’s announcement quickly raised concerns over potential market manipulation.
With Bitcoin, Ethereum, and XRP in its treasury, WLF’s holdings grew in value as those assets appreciated. This growth could have boosted investor confidence, leading to higher demand for WLF tokens.
The crypto market’s overall surge and attention to Trump-related projects also generated greater investor interest in WLF, contributing to its price appreciation.
Meanwhile, Trump’s meme coin surged following the President’s reserve announcement. While TRUMP’s price stood at $13.55, with a trading volume of almost $1.2 billion on March 2, those numbers surged to $17.46 and $3.6 billion, respectively, following the news a day later.
On March 4, TRUMP’s price and trading volume plummeted below the numbers they registered only two days earlier.
“I think the meme coins have looked like a classic pump-and-dump scheme or money grab. I don’t think the issue should be, why not let people invest in these things if they want to? Of course they should have the right to invest in whatever they want. The issue is the propriety of the President of the United States selling things that capitalize on his being the President,” said Massad.
Even Ethereum Co-Founder Vitalik Buterin touched on the damaging effects of political meme coins in a social media post published five days after TRUMP’s launch.
“Now is the time to talk about the fact that large-scale political coins cross a further line: they are not just sources of fun, whose harm is at most contained to mistakes made by voluntary participants, they are vehicles for unlimited political bribery, including from foreign nation states,” Buterin said.
There is perhaps an analogy with weed here.
Ten years ago, to many weed represented freedom, and rebellion against sclerotic old order that denied self-sovereignty over our bodies. Then, weed became legalized, and “official”.
On that day, I remember my personal interest in weed…
Given Trump’s active participation in the crypto industry over the past several months, a vital question remains: Why hasn’t Trump been held accountable over these apparent conflicts of interest?
The answer remains short and bitter: He can’t be.
Can Trump Be Held Accountable?
The potential conflicts of interest arising from Donald Trump’s involvement in the cryptocurrency industry have drawn the attention of various political figures, particularly those focused on government ethics and oversight.
US Senator Elizabeth Warren has been the most vocal opponent of Trump’s dealings in the crypto industry.
“I write today to request information about how you, as President Trump’s ‘Crypto Czar,’ have addressed your conflicts of interest, and how you will prevent the President and other private individuals from directly profiting off of the Trump Administration’s efforts to selectively pump the value of certain crypto assets, drop crypto asset-related enforcement actions, and deregulate the crypto asset industry. These actions have the potential to benefit billionaire investors, Trump Administration insiders, and speculators at the expense of middle-class families,” Elizabeth Warren wrote.
However, not much else can be done beyond letters that demand responses and clarifications from the Trump administration.
The Legal Loophole
US Presidents are largely exempted from conflict of interest provisions. This exemption has been based on legal interpretations that argue these laws could impede the President’s ability to fulfill their constitutional duties.
“The problem is, the POTUS is not subject to the conflict-of-interest laws that apply to most other executive branch officeholders. There is the Foreign Emoluments Clause in the Constitution, which prohibits accepting gifts from foreign countries. There’s also a domestic clause that prohibits accepting gifts from the government. But beyond that, he’s not subject to the usual conflict-of-interest standards. So, it’s unfortunate that we don’t have those standards applicable to a president. I think, had any other president done these things, there would be far more outrage,” Massad told BeInCrypto.
Given the legal circumstances, public scrutiny and political pressure are the best ways to hold a president accountable for potential conflicts of interest.
Yet, despite the legal exemptions for sitting presidents, the ethical implications of Trump’s crypto dealings remain undeniable.
As the lines between political power and personal profit continue to blur, the necessity for clear ethical standards, even without legal mandates, becomes increasingly urgent.
Failing to do so might erode public trust in the crypto industry, generating potentially irreversible consequences.
In previous years, trends in the TradFi market have caused risk-on assets like crypto to spike in Q2, especially in April. This could provide a much-needed bullish narrative for the space.
A report from QCP Capital looked at a few trends, such as the S&P 500’s performance, but Bitcoin’s price history over the last decade is the clearest market indicator.
However, this data is corroborated by a broad spectrum of crypto-native trends.
“One of the fastest US stock downturns in recent history may well be behind us—or so JPMorgan and a growing chorus of strategists are telling their clients. Q2, and April in particular, has historically been one of the best periods for risk assets,” QCP claimed via Telegram.
With how desperate the crypto market has been for a bullish narrative, this Q2 speculation comes as a breath of fresh air. QCP pointed to recurring trends in TradFi sectors like the S&P 500, and some of these are even more pronounced in crypto.
Case in point, the price of Bitcoin is a great bellwether. Bitcoin is highly linked with the broader crypto market, and it has frequently rallied in Q2, especially in April.
For example, in 2017, Bitcoin’s price hovered around $1,000 until it broke $2,000 in mid-May, prompting a bigger rally. In 2021, a gargantuan price spike culminated in April and briefly dropped in May.
Bitcoin Yearly Price Chart. Source: BeInCrypto
In 2024, Q2 was a significant bullish period for crypto. BTC climbed quickly after the approval of Bitcoin Spot ETFs in January, breaching $60,000 in late February and early March, setting a new all-time high by April.
At the same time, high-yield credit markets demonstrated a solid performance, with CC-rated bonds overperforming. This shows a healthy appetite for risk-on assets.
XRP is up more than 8% over the past seven days, but it hasn’t been able to maintain the strong momentum sparked by the SEC dropping its lawsuit against Ripple.
After the initial surge, XRP has entered a phase of consolidation, with price action stuck between key support and resistance levels. Technical indicators now reflect a market on pause, with momentum fading and direction unclear.
RSI has now slipped closer to neutral territory, suggesting that market participants are increasingly uncertain about the next move.
Importantly, XRP hasn’t reached RSI levels above 70—commonly associated with overbought and strongly bullish conditions—since March 19, over a week ago, indicating a lack of strong buying pressure during this period.
RSI, or Relative Strength Index, is a widely used momentum oscillator that measures the speed and change of price movements on a scale from 0 to 100.
An RSI reading above 70 typically signals that an asset is overbought and could be due for a pullback, while a reading below 30 suggests it may be oversold and primed for a bounce. Values between 50 and 70 generally reflect bullish momentum, whereas readings between 30 and 50 lean bearish.
With XRP now sitting at 52.89, it remains above the midpoint but is edging closer to neutral, suggesting the recent bullish phase may be cooling off unless renewed buying activity steps in.
Ichimoku Cloud Shows An Indecisive Market
XRP’s Ichimoku Cloud chart shows a market in consolidation, with price action hovering just above the cloud but lacking strong momentum.
The Tenkan-sen and Kijun-sen lines are relatively flat and close together, indicating a pause in trend strength and a balance between buyers and sellers.
The lack of a clear Tenkan/Kijun crossover also supports the idea that the market is in a neutral phase rather than trending decisively in either direction.
The cloud ahead is thin and slightly bullish. This suggests that while there is some support beneath the price, it’s not particularly strong.
A thin cloud typically signals potential vulnerability, as it may not hold up well against increased selling pressure. Meanwhile, the Chikou Span (lagging line) is interacting closely with past price action, another sign that momentum is weakening.
Overall, the Ichimoku setup reflects uncertainty, with XRP needing a decisive push in either direction to escape this range-bound structure.
The price is now caught between a resistance zone at $2.47 and support at $2.35. That highlights a phase of consolidation and indecision.
If the current support level is retested and fails to hold, XRP could see increased selling pressure. That would open the door for a move down to $2.22. If bearish momentum intensifies, a deeper drop toward $1.90 is possible.
CME Group has partnered with Google Cloud to pilot initiatives aimed at enhancing capital market efficiency through tokenization. The collaboration seeks to leverage Google Cloud Universal Ledger (GCUL).
However, critics argue that the technology represents a shift toward centralization in an industry that has traditionally prioritized decentralization.
CME and Google Cloud’s Tokenization Pilot: A New Era or Centralization Crisis?
For context, Google Cloud’s GCUL is a distributed ledger built for seamless integration by financial institutions. This platform simplifies account and asset management while enabling secure transfers on a private and permissioned network.
“Google Cloud Universal Ledger has the potential to deliver significant efficiencies for collateral, margin, settlement, and fee payments as the world moves toward 24/7 trading,” Duffy said.
The team has finalized the initial integration and testing phase of GCUL. They will conduct direct testing with market participants later this year. Lastly, the services’ launch is planned for 2026.
Nonetheless, the move has sparked controversy within the cryptocurrency community. Critics argue that GCUL, as a centralized and permissioned ledger, contradicts the decentralized ethos that underpins blockchain technology.
“It is not a bullish development,” a user wrote on X.
The collaboration has also ignited a broader discussion about the role of public versus private blockchains in asset tokenization. DeFi analyst Ignas framed the issue as a “battle between public, decentralized networks and private chains.
This suggested that centralized solutions like GCUL could undermine the principles of transparency and inclusivity of public blockchains.
“Not bullish at all. Google Cloud Universal Ledger (GCUL) seems to be a private, permissioned network,” he posted.
Meanwhile, another analyst pointed out the practical challenges associated with using public blockchains.
“I’m honestly not sure if public chains are competitive in this space,” he claimed.
The analyst explained that CME Group or similar institutions require ultra-high-frequency settlements with near-instant finality. They also need room for manual intervention when necessary.
This need for precise control often leads institutions to split blockchain nodes into specialized roles like clearing, settlement, compliance, and observation. The analyst argued that public blockchains do not support this level of control.
He also highlighted that tokenized assets need liquidity boundaries to avoid risks like money laundering and speculation. Without proper controls, tokenized assets could face these issues if traded on decentralized exchanges.
“I’ve talked to quite a few people from traditional finance, and honestly, many of them say DEXs are basically no different from black markets,” the analyst added.
BNB (@cz_binance) 
