Robert Kiyosaki, author of Rich Dad Poor Dad, has issued a strong warning about the state of the U.S. economy. Amid these concerns, Kiyosaki has predicted BTC price could surge to between $500,000 and $1 million amid Bitcoin setting a new all-time high today. Robert Kiyosaki Concerns Over U.S. Bond Auction Robert Kiyosaki’s recent comments were triggered by a U.S. Treasury bond auction held on May 20. The Rich Dad Poor Dad author stated that no buyers appeared at the auction and alleged the Federal Reserve had to purchase $50 billion worth of bonds itself. The U.S. Treasury Department, however, released data showing a bid-to-cover ratio of 2.97, with $212.58 billion in bids and $74.38 billion accepted. Only $4.38 billion was awarded to the Federal Reserve’s account, according to the official records. This suggests participation was higher than Kiyosaki implied. Despite this, Robert Kiyosaki warned that this event signals a… Read More at Coingape.com
A fake meme coin based on Eric Trump underwent a massive rug pull today, falling from a $160 million market cap to $30,000 almost instantly. The token displayed several dubious characteristics ahead of time.
The scammer tried to launch three failed Eric Trump tokens before this one started trending. One breakout success is more than enough to reward this duplicitous behavior.
Eric Trump Coin Gets Rug Pulled
Rug pull scams are a growing part of the crypto ecosystem, and fake meme coins are a core component of the “sector.” Today’s Eric Trump rug pull was particularly egregious, as it was clearly telegraphed in advance.
After the meme coin spiked 6,200% in less than a day, Bubblemaps investigated the asset, warning followers not to fall for it:
“A rug in the making. ERICTRUMP is currently trending on most platforms. Avoid it,” he stated several hours before the rug pull. The warning received more than 100,000 views.
Specifically, he noted that the token was bundled to an absurdly large degree. A small number of accounts held most Eric Trump tokens, facilitating an easier exit whenever the scammer decided to pull the rug.
When President Trump launched his own meme coin, the saga that led to this scam began. TRUMP broke new ground in combining fame and political success to boost a cryptoasset’s value, and an official MELANIA token came out shortly afterward.
After this, fake coins and rug pulls began using other Trump family members’ names, including Eric.
Those projects failed, but this coin started trending. Then, the scammer exited, and the token’s market cap fell from $160 million to $30,000 in the blink of an eye:
Even if the scammer’s first attempts failed, one multimillion-dollar success can go a very long way. It’s concerning that the ERIC TRUMP rug pull performed so well despite the blaring and well-publicized warning signs.
As long as cash grabs like this continue to succeed, they will damage the entire industry’s reputation and future.
After Bitcoin (BTC), Ethereum (ETH) has emerged as the next institutional favorite. According to Geoff Kendrick, Head of Digital Assets Research at Standard Chartered, corporate treasuries have purchased 1% of all ETH in circulation since the beginning of June.
This highlights the growing appetite among firms to increase their ETH exposure. Kendrick also shared with BeInCrypto that these corporate treasuries could eventually hold 10% of all ETH.
Institutions Aggressively Accumulate ETH in June
BeInCrypto previously reported that firms are accelerating their efforts to acquire ETH as part of their treasury strategy. According to the latest data, the Strategic ETH Reserve, which tracks entities holding Ethereum in their treasuries, now totals 2.33 million ETH, valued at over $9 billion.
These holdings, distributed among 64 entities, account for 1.93% of Ethereum’s supply. This marks a significant rise from the 789,705 ETH held in mid-May. In just over two months, the entities’ ETH holdings have surged by approximately 195%.
Notably, 113,000 ETH (approximately $409 million) is held by companies that revealed their positions for the first time this quarter.
Meanwhile, a few firms stand out for their massive holdings. For instance, BitMine Immersion Technologies, which initially committed $250 million to an ETH reserve, has already topped over $2 billion in ETH holdings in a month.
Standard Chartered’s Geoff Kendrick highlighted that public companies with digital assets on their balance sheets have acquired 1% of ETH’s circulating supply in just two months. What’s particularly noteworthy is the pace of acquisition—this rate is double that of Bitcoin purchases by corporate treasuries.
“This buying was almost as strong as ETH ETF buying, which has also been the strongest on record. We expect ETH treasury companies to eventually own 10% of all ETH, a 10x increase from here,” Kendrick told BeInCrypto.
He stressed that in terms of flows, ETH treasury companies are becoming more important than their BTC counterparts.
“ETH treasury companies make more sense than their BTC equivalents due to staking yield, DeFi leverage. And from a regulatory arbitrage perspective, they make more sense than their BTC equivalents, too,” he said.
Why Corporate Firms Are Increasing Their Ethereum Holdings?
The executive explained that corporate treasury investments in ETH are appealing due to the financial system’s inefficiencies, which are largely driven by regulatory barriers.
Additionally, ETH treasuries can benefit from staking rewards and leverage opportunities within decentralized finance (DeFi). These are currently unavailable through US Ethereum ETFs.
Kendrick also noted that the momentum has contributed to ETH’s latest price rally. BeInCrypto Markets data showed that the price appreciated 56.9% over the past month, and peaked at highs last seen many months ago.
“ETH has significantly outperformed BTC since ETH treasury companies took hold in early June, with the ETH-BTC cross up from an April low of 0.018 to 0.032 now. Buying by these companies, along with the best period for ETH ETFs on record, has certainly contributed to those gains. If the flows can continue, ETH may be able to break above the key USD 4,000 level (our current end-2025 forecast),” Kendrick disclosed to BeInCrypto.
