Crypto exchange Bullish, backed by Peter Thiel, has filed for an initial public offering (IPO) with the U.S. Securities and Exchange Commission (SEC). This filing is a significant step for the firm and the broader crypto industry, which has seen a surge in optimism following the recent signing of the GENIUS Act by President Donald
The Shiba Inu community never fails to capture the market’s attention. On Friday, it highlighted the features of SHIB Pay, its own permissionless, on-chain payment system.
Amid rising talks of cryptocurrencies replacing the broken SWIFT (Society for Worldwide Interbank Financial Telecommunication) payments system, this system by the meme coin’s team is gaining substantial traction globally.
With renowned proponents like Eric Trump recently stressing the need for crypto to replace the broken TradFi system, on-chain payments systems are already a hot buzz. Intriguingly, crypto realm titans such as Ripple, Tether, and Circle have also revealed plans to bolster the crypto payments space.
Shiba Inu Boasts SHIB Pay As SWIFT Payments System Faces Heat
The Shib Magazine’s official post has recently touted SHIB Pay to be a revolutionary tool for merchants and users, on-chain. Shiba Inu’s community revealed that this portal eliminates the need for traditional payment processors, while users can pay without needing a central authority or approval.
Further, the self-custodial aspect offers merchants the right to hold keys for their own crypto wallets. This saga eliminates the need for any third parties, mitigating risks of frozen funds or loss of control over them. This endeavor by the dog-themed meme coin’s team gained significant traction amid rising TradFi concerns.
CoinGape Media recently reported that Eric Trump stressed that crypto will replace the broken SWIFT payments system at the Token2049 event. The U.S. President’s son believes TradFi to be outdated, citing limitations such as slower processing speeds, higher transaction costs, and limited accessibility. SHIB Pay, on the other hand, remains poised to counter these setbacks with on-chain capabilities.
Not long ago, Trump also stressed, “If the banks don’t watch what’s coming, they’re going to be extinct in 10 years.” This comment primarily hinted at Eric Trump’s pro-crypto stance, predicting that the digital asset space will replace banking ahead.
In line with this soaring optimism regarding crypto payments, the Shiba Inu community stole the spotlight with its recent payments tool update.
Ripple, Circle, & Tether Lead The Race?
On the other hand, crypto and stablecoin giants such as Ripple, Tether, and Circle are also jacking up crypto payments. CoinGape recently reported that Tether is looking to launch a domestic stablecoin for America, supporting crypto payments for everyday use. The firm’s CEO, Paul Ardoino, revealed that the current USDT coin remains for high-inflation purposes.
Meanwhile, Circle introduced CPN (Circle Payments Network), primarily empowering cross-border transactions. This payment system directly rivals Ripple Payments, another cost-effective cross-border transaction service on XRPL. Overall, now Shiba Inu aims to disrupt the crypto payments race with the introduction of its SHIB Pay.
Welcome to the US Morning Crypto News Briefing—your essential rundown of the most important developments in crypto for the day ahead.
Grab a coffee to see what data says about the Bitcoin (BTC) price outlook, alongside insights into the current sentiment in the options market. Remember, this being the last Friday of April, monthly options expired today at 8:00 UTC on Deribit.
Strong Market Expectations of Bitcoin Reaching $100,000
Interestingly, Bitcoin traded well above its max pain or strike price of $86,000. Ordinarily, as options near expiration, an asset’s price would tend to gravitate toward its max pain level. While Bitcoin traded for $93,471 minutes before the options expiry, it is now selling for $94,581.
BeInCrypto contacted Bitfinex analysts for insights into the current market outlook and their perspective on what lies ahead for the Bitcoin price in the short term. According to the analysts, Bitcoin’s price could record further upside after clearing option-based resistance.
“Post-expiry, the market is leaning cautiously bullish, and with the $90,000 strike cluster now cleared, there’s less option-based resistance overhead,” Bitfinex analysts told BeInCrypto.
Further, the analysts observed that many traders have rolled exposure to higher strikes, with $95,000 and $100,000 showing increased call open interest for end-April and May expiries.
While this reflects the expected continued upside, the analysts did not rule out a potential short-term chop.
This aligns with Deribit analysts’ statements that the highest open interest for BTC options was around the $100,000 strike price. This indicates strong market expectations of Bitcoin reaching this level.
As BeInCrypto reported, the analysts ascribed this to traders selling cash-secured put options on Bitcoin. These traders also use stablecoins to collect premiums while buying BTC at lower prices.
BeInCrypto also reported that the Cumulative delta (CD) across BTC and related ETF (exchange-traded fund) options on Deribit reached $9 billion. Bitfinex analysts agree, citing rising spot flows and ETF demand.
“Spot flows and ETF demand have picked up significantly for BTC over the past few days and will now continue to dictate if BTC can establish $90,000 as support,” the analysts added.
Meanwhile, these forecasts add to the list of growing bullish bets on Bitcoin’s price, credibly confirming a sentiment shared in the previous US Crypto News publication.
However, despite strong prospects for more Bitcoin price gains, some analysts urge investors to temper their optimism. One is Innokenty Isers, the Chief Executive Officer at Paybis Exchange.
“Current market outlook suggests that Bitcoin price may face more stiff resistance moving forward. In the last two months, the uncertainty around the tariff war triggered an unusual concern for investors as many decided to temporarily steer clear of more volatile assets like Bitcoin,” Isers told BeInCrypto.
Moreover, the Federal Reserve (Fed) has spotlighted the inflationary risks the tariff war may introduce. Nevertheless, Isers acknowledged clear indications of sustained accumulation of BTC by institutional investors and market whales.
This chart shows that the top Bitcoin options by trading volume over the past 24 hours are call options with strike prices of $95,000 and $100,000, ahead of the May 2 expiry.
Byte-Sized Alpha
Bitcoin rebounds 25% in April, shifting market sentiment from fear to greed, per the Crypto Fear & Greed Index readings.
Cardano gained 15% in a week, holding a bullish structure despite a volume dip and early signs of consolidation near key price levels.
USD1 stablecoin, launched by World Liberty Financial, is subject to the EU’s MiCA regulations, which require compliance with transparency, reserve backing, and conflict of interest rules.
Societe Generale has introduced USD CoinVertible (USDCV), a US dollar-backed stablecoin designed for institutional clients and fully compliant with MiCA regulations.
USDCV will launch on the Ethereum and Solana blockchains, and trading will begin in July 2025. The Bank of New York Mellon will serve as custodian for its reserves.
New Institutional Stablecoin Prioritizes Regulatory Compliance
Societe Generale-FORGE, a regulated arm of France’s Societe Generale bank, has officially announced the launch of USD CoinVertible (USDCV). This stablecoin targets only institutional users and is unavailable to US residents.
Running on Ethereum and Solana, USDCV offers fast settlement and enhanced interoperability for institutional markets.
The timing aligns with rising demand for regulated digital assets. Each USDCV is pegged to the US dollar, with reserves held by The Bank of New York Mellon.
“After the release of a MiCA-compliant EUR stablecoin (EURCV), the launch of a US Dollar version (USDCV) was the obvious next step for Societe Generale–FORGE as market adoption of stablecoins is growing exponentially. The stablecoin market remains largely US Dollar denominated. This new currency will enable our clients, either institutions, corporates or retail investors, to leverage the benefits of an institutional-grade stablecoin” said Jean-Marc Stenger, Chief Executive Officer of Societe Generale – FORGE.
Societe Generale-FORGE’s approach ensures strict supervision and transparency, meeting the evolving needs of European and global markets.
The French baking giant’s crypto arm will provide daily public updates detailing the composition and value of reserves. These disclosures will be readily available via their collateral disclosure page, allowing stakeholders to verify collateralization in real time.
The Bank of New York Mellon’s custodianship adds another degree of security, supporting Societe Generale-FORGE’s reputation for institutional-grade asset management.
This USD-backed launch follows the earlier success of EUR CoinVertible, Europe’s first institutional stablecoin on a public blockchain, introduced in April 2023. That initiative demonstrated Societe Generale-FORGE’s expertise in regulatory compliance and digital infrastructure.