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The UK’s Prudential Regulation Authority proposes raising the Financial Services Compensation Scheme deposit protection limit from £85,000 to £110,000. IG Group has acquired Freetrade for £160 million, while Interactive Brokers reports a 44% year-on-year increase in daily trades. In crypto, Donald Trump Jr. and Eric Trump back a Bitcoin mining venture, and Fidelity launches a crypto-focused IRA, allowing investments in Bitcoin, Ethereum, and Litecoin.
Eric Trump claims he has been a victim of "cancel culture" by major US banks like Capital One and JPMorgan Chase, which he alleges have de-banked him due to his father's political position. This experience has led him to advocate for cryptocurrency, arguing that blockchain technology can provide a more efficient alternative to traditional banking systems. He emphasizes the political motivations behind the banks' actions and the need for a financial ecosystem that is not subject to such pressures.
Five US banks, including JPMorgan Chase and Bank of America, are accused by Eric Trump of abruptly closing accounts for political reasons amid alleged pressure from the Biden administration. The Trump family plans to hold these banks accountable, claiming they were targeted due to their political affiliation. While Capital One denies the allegations, JPMorgan Chase's CEO attributes account terminations to regulatory pressures rather than political beliefs.
Japan’s Metaplanet has acquired an additional 150 bitcoin for approximately $12.6 million, raising its total holdings to 3,350 BTC. This purchase was made at an average price of $83,801 per bitcoin, bringing the company's total bitcoin investments to around $278.8 million, now valued at approximately $291.3 million. The acquisition follows the recent appointment of Eric Trump to the firm’s Strategic Board of Advisors.
Japan’s Metaplanet has appointed Eric Trump to its Strategic Board of Advisors as it seeks to increase its bitcoin reserves from 3,200 BTC to 10,000 BTC by the end of 2025. CEO Simon Gerovich announced the appointment on March 21, and Metaplanet's stock rose 1.3% to US$27.80 following the news. Eric Trump, also an ambassador for World Liberty Financial, is expected to assist in expanding the company's cryptocurrency holdings.
World Liberty Financial, a decentralized finance project backed by the Trump family, has successfully completed its second public token sale, raising $250 million. Launched on September 16, 2024, the initiative aims to promote DeFi and stablecoins pegged to the US dollar, garnering a total of $550 million by selling 25% of its crypto assets.
World Liberty Financial, a decentralized finance project backed by the Trump family, has successfully completed its second public token sale, raising $250 million. Launched on September 16, 2024, the initiative aims to promote DeFi and stablecoins pegged to the US dollar, garnering a total of $550 million by selling 25% of its crypto assets.
President Trump announced a plan for a U.S. Crypto Reserve, which would include Bitcoin, Ethereum, Solana, XRP, and Cardano, raising concerns about market manipulation and the potential devaluation of the dollar. Critics argue that this move primarily benefits billionaires and could inadvertently support cybercriminals, including North Korean hackers, while leaving taxpayers at risk. The lack of clarity on implementation and the speculative nature of cryptocurrencies further complicate the proposal's potential benefits to the American economy.
Bitcoin is currently facing challenges, trading at $92K amid market panic following the DOJ's approval to sell Bitcoin, seen by some as a politically motivated move by the Biden administration. With Trump's potential return, optimism grows for pro-crypto policies, including a Bitcoin Strategic Reserve, as key figures like Paul Atkins at the SEC and David Sacks are expected to influence favorable regulations. Anthony Scaramucci predicts Bitcoin could reach $200,000 by year-end 2025, viewing current volatility as a buying opportunity and likening Bitcoin's growth potential to the early internet era.
World Liberty Financial (WLFI), co-founded by Donald Trump and his sons, is making significant investments in Ethereum, Ondo Finance, and AAVE, aiming to reshape the DeFi landscape ahead of Trump's inauguration on January 20, 2025. With a $77 million portfolio, WLFI's focus on Ethereum underscores its belief in the platform's long-term potential, while investments in Ondo Finance and AAVE highlight its strategy to bridge real-world assets and enhance lending capabilities in decentralized finance. As attention on WLFI grows, these investments position it as a key player in the evolving crypto market.
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