Donald Trump

Mr. Wonderful says the crypto cowboy era is over. Really?

Published

3 months ago

March 16, 2025

As President Donald Trump stakes his claim on the future of cryptocurrency in America, investors and industry insiders are divided on whether his administration truly marks a turning point for digital assets.

Kevin O’Leary, chairman of O’Leary Ventures and a longtime cryptocurrency advocate, recently lauded Trump’s stance on digital assets, arguing that this administration is ushering in a “new phase” for the industry.

Speaking on “My View with Lara Trump,” O’Leary asserted that the so-called “cowboy era of crypto” — marked by high-profile fraud cases and regulatory uncertainty — was over.

Recall that O’Leary was indeed affected by perhaps the biggest crypto fraud case of all — FTX. As an investor and spokesperson for the exchange, O’Leary lost a significant amount of money when Sam Bankman-Fried’s startup went bankrupt in late 2022.

“All the crypto cowboys are in jail or out of business. So now we’re in a new phase. There’s a new tone with the government. Trump has put it forward,” O’Leary said.

But rug pulls and devastating hacks are still commonplace.

Meanwhile, crypto “whales” and influencers are making a killing by pumping up coins with fake “insider knowledge,” inflating prices before cashing out, and leaving everyday investors holding the bag. It’s the Wild West out there, and the scammers are riding high.

O’Leary’s optimism comes as Trump embarks on one new crypto initiative after another.

After speaking at the Bitcoin 2024 Conference in Nashville, the then-GOP nominee launched World Liberty Financial. Two days before his inauguration, he unveiled the Official Trump (TRUMP) meme coin. And all of those SEC-led investigations into cryptocurrency-related companies (i.e., Binance and Coinbase)? They’re disappearing.

Earlier this month, Trump signed an executive order establishing a Strategic Bitcoin Reserve. The move, which designated certain digital assets like XRP, SOL, and ADA as part of a government-backed strategic reserve, has been touted by Trump and his allies as a major step toward integrating crypto into traditional finance.

While O’Leary hails these developments as proof of a regulatory turning point, not everyone in the crypto world is convinced.

‘This ain’t it’

Critics argue that Trump’s newfound embrace of digital assets hurts the industry’s credibility and paves the way for crony capitalism.

“Crypto is at an existential moment,” Zack Guzmán, a crypto journalist and founder of the Web3 media company Trustless Media, warned on Jan. 18. “I understand the desire to make quick money; I understand the excitement of thinking short-term; I understand stand [sic] why Trump, a man who has grifted in every way to make money for himself would so easily win the industry. But this ain’t it.”

Only politically favored crypto firms will thrive under government protection, Guzmán said.

The same day Trump decided to launch a memecoin, which skyrocketed 10,000% in value, crypto elitists dressed up in tuxedos and gowns, ready to hobnob at a gala in Washington, D.C. They were completely unaware that Official Trump would soon become a digital dumpster fire (it’s currently down over 84% from its peak).

“I’m not saying Trump just used everyone in crypto by throwing a black tie event in DC while simultaneously launching a memecoin without them, but that’s exactly what he did,” Guzmán wrote on Jan. 18. “This industry is his industry now, whether they are aware of it or not. Frankly, that’s extremely sad.”

‘Stupid and embarrassing’

After Trump launched Official Trump, Balaji Srinivasan, a cryptocurrency investor, called meme coins a “zero sum game.”

“There is no wealth creation,” he tweeted the day before Trump’s inauguration. “Every buy order is simply matched by a sell order. And after an initial spike, the price eventually crashes and the last buyers lose everything.”

Crypto entrepreneur Erik Voorhees wrote on X:

Trumpcoin is stupid and embarrassing. Trumpcoin is a signal of sea change in US fintech policy towards much more permissive innovation. Both are true.

SkyBridge founder and former White House Communications Director Anthony Scaramucci called it “Idi Amin-level corruption”, referring to the military officer whose Ugandan rule in the 1970s was defined by corruption.

And that Bitcoin reserve — the one David Sacks, Trump’s crypto czar, says will be filled with seized digital assets — seems far-fetched, too. Crypto analyst Dessislava Aubert told the Agence France-Presse that the U.S. government must return seized Bitcoin to all victims identified as suffering from a hack.

Despite the skepticism, O’Leary remains steadfast in his belief that Trump’s policies will legitimize crypto in ways no previous administration has.

“The big news is that this will be the first administration that’s going to say this sector belongs in America. The development should be here. The technology should be mastered here. We should lead the world in it,” O’Leary added.

Whether Trump’s promises translate into lasting regulatory clarity—or are merely political grandstanding—remains an open question. For now, the crypto world watches closely, caught between hope and deep-seated doubt.

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Bitcoin

Why $107,500 And $103,500 Are The Levels To Watch

Published

10 hours ago

June 3, 2025

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The Bitcoin price crash is in focus following the flagship crypto’s recent drop to as low as $103,700. Crypto analyst Captain Faibik has commented on why $107,500 and $103,500 are the most important levels to watch as BTC looks to decide its next move.

Why $107,500 & $103,500 Are Key For The Bitcoin Price

In an X post, Captain Faibik explained that $107,500 and $103,500 are key as the bulls and bears battle to dictate the next move for the Bitcoin price. The analyst noted that later this week, BTC bulls will attempt to reclaim the $107,500 resistance and regain momentum.

He predicted that a clean break and hold above $107,500 could trigger a bullish leg toward the $117,000 level, which would mark a new all-time high (ATH) for the flagship crypto. Meanwhile, on the other hand, $103,500 is an important support level which the bulls must defend as the Bitcoin price eyes new highs. Captain Faibik warned that a breakdown below could shift momentum back in favor of the bears.

The Bitcoin price had surged above $106,000 on May 2 following news about the US decision to extend its pause of tariffs on some Chinese goods to August. This provided a bullish outlook for the flagship crypto after Donald Trump stated last week that China had violated the trade deal with the US.

Trump and China’s president are set to have a call later this week, which could further boost the Bitcoin price if both sides could resolve any dispute regarding the current trade deal. Meanwhile, Fed Chair Jerome Powell failed to discuss the economy during his speech at the International Finance Division Anniversary Conference, which also continues to fuel market uncertainty.

First Step For BTC Is To Get Back Above $106,500

In an X post, crypto analyst Kevin Capital indicated that the first step is for the Bitcoin price to successfully reclaim $106,500. He noted that BTC had recorded a weekly close below this level, which puts the flagship crypto back in the danger zone. The analyst further remarked that BTC needs to get back above this level in the coming days or things can get “sketchy looking.” Kevin Capital added that this has been a key level for months, and nothing has changed.

Meanwhile, crypto analyst Titan of Crypto revealed that a Katana is forming on the weekly chart for the Bitcoin price. He explained that in Ichimoku analysis, a Katana forms when Tenkan and Kijun overlap. This signals low momentum and market equilibrium. He added that this development also precedes strong directional moves, with an expansion or pullback on the horizon.

At the time of writing, the Bitcoin price is trading at around $105,435, up in the last 24 hours, according to data from CoinMarketCap.

Featured image from Getty Images, chart from Tradingview.com

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China

Dow inches higher, Nasdaq gains 0.67% despite renewed trade tensions

Published

1 day ago

June 2, 2025

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U.S. stocks ended higher on Monday, showing resilience despite rising trade tensions between Washington, Beijing, and Brussels.

The Nasdaq Composite climbed 0.7%, while the S&P 500 added 0.4%. The Dow Jones Industrial Average posted a marginal gain of less than 0.1%.

The uptick came after China pushed back against President Trump’s accusation that it had breached the trade truce struck earlier this year.

Beijing blamed the U.S. for escalating tensions by tightening export controls on AI chips and restricting visas for Chinese students.

Meanwhile, Treasury Secretary Scott Bessent expressed confidence that President Trump and Chinese President Xi Jinping would resume talks soon.

European officials also criticized the U.S. over plans to double tariffs on steel and aluminum to 50% starting Wednesday, warning of potential retaliatory duties. A European Union trade delegation is now in Washington to address the issue.

Energy rally

Despite the geopolitical friction, investor sentiment was buoyed by a rally in the energy sector. The S&P 500 Energy index rose 1%, driven by a 2.8% jump in U.S. crude-oil prices following a drone strike by Ukraine on Russian military targets. Additionally, OPEC+ announced a supply increase set for July, which further fueled gains in oil and copper futures.

Treasury yields moved higher, with the 10-year yield rising to 4.461% and the 30-year reaching a key technical level. The dollar index weakened, while the euro, pound, and yen gained.

The S&P 500 and Nasdaq are now coming off their strongest month since 2023, signaling renewed investor appetite despite global uncertainties.

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Donald Trump

Trump’s Memecoin Dinner Questioned by Top Democrat on House Judiciary Committee

Published

4 days ago

May 30, 2025

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A senior Democrat in the House of Representatives, Jamie Raskin, joined his name to lawmakers seeking answers about President Donald Trump’s recent dinner for top investors in his memecoin, sending questions directly to Trump.

Raskin, the ranking Democrat on the House Judiciary Committee, has been a vocal critic of the president and becomes the latest of many from his party to probe details about the event, which they’ve called out as evidence of White House corruption. Because Raskin is in the minority party, his demands are unlikely to lead to further congressional action unless they regain the House or Senate in next year’s elections.

“I write today to demand that you release the names of all the attendees at this dinner and provide information about the source of the money they each used to buy $TRUMP coins, so that we can prevent illegal foreign government emoluments from being pocketed without congressional consent,” Raskin wrote this week to the president, joining many counterparts in the Senate in seeking the information, including Senators Elizabeth Warren, Chris Murphy and Richard Blumenthal.

“We deserve to know who is paying for access to our president, and what steps you took to ensure that the funds you receive are legitimate and legal, rather than the proceeds from foreign states or monarchs or illegal activities,” Rasking said, specifically highlighting Tron founder Justin Sun, a guest who was a major early investor in Trump’s family crypto operations.

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