Tag: CRYPTOS FoxBusiness.

With this initiative, the Metropolitan Government of Tokyo seeks to establish a healthy market for stablecoins, which are expected to serve as a new payment infrastructure and promote the establishment of a digital yen-based economy.

Key Takeaways:

• Tokyo launched 40M yen subsidies for stablecoins, aiming to build a future digital economic zone.
• After a 1st October launch, Japan expects local yen tokens to dominate future global payments next.
• Japanese yen stablecoins have regulatory advantages over their USD counterparts.

Tokyo Offers Subsidies For Companies Implementing Digital Yen-Based Use Cases

While dollar-based stablecoins dominate the market in capitalization and relevance, initiatives including other stablecoins are starting to surge.

The Metropolitan Government of Tokyo has launched a subsidy program extending subsidies to companies that use yen-based stablecoins as part of their business model.

According to the city’s Bureau of Industrial and Labor Affairs, the city will subsidize “initiatives that create use cases by utilizing actually issued SCs, in compliance with the Payment Services Act and other relevant laws and regulations, and that, in principle, can be implemented or verified by the end of the fiscal year in which the grant decision is made.”

The subsidy, which can reach up to 40 million yen (nearly $250K), can be used by companies to pay for different expenses. These include the costs of using external infrastructure to process digital yen payments, expenses incurred in connection with consultations with experts and audits, and system development costs.

The government specified that, with this subsidy program, it seeks to “solve social problems faced by Tokyo residents or businesses within Tokyo, improve the convenience of payments and remittances, and promote the construction of a yen-based digital economic zone through the spread of yen-denominated shopping centers.”

Japanese yen stablecoin initiatives were slow to start, as Japan established one of the most restrictive stablecoin regulations internationally, with the first yen-pegged stablecoin launching in October.

Even so, the government of Tokyo trusts that these will become “major means of payment in the international community,” supporting the social implementation of these via the discussed subsidies.

The advantage of these national initiatives lies in the limited penetration of their dollar-based counterparts in Japan, as current regulations impose the same user protection and AML standards on both international and national stablecoin issuers.

The cryptocurrency analysis platform Glassnode revealed in its latest report that the struggle between bulls and bears in the Bitcoin market has intensified significantly.

According to the report, while buying interest remains strong, a cautious atmosphere has begun to prevail across the market.

The negative turn in cumulative volume delta (CVD) data in the spot market indicates increased selling pressure and strengthening downward expectations. Despite this, high trading volumes on centralized exchanges show that market participation remains strong. This suggests that while there is pressure on prices, liquidity has not been completely withdrawn.

In the futures market, the increase in open positions indicates a rise in investor risk appetite, while the funding rate for long positions has significantly decreased. Furthermore, the sharp decline in CVD (Current Value Added Tax) in futures contracts suggests that investors are becoming more willing to open short positions, indicating weakening buyer power. These data reveal a strengthening bearish outlook in the futures markets.

The decrease in demand for downside hedging in the options market may have somewhat mitigated negative expectations in the short term. However, the narrowing of open positions suggests that investors are engaging in profit-taking, which could affect volatility in the coming period. The narrowing of volatility spreads indicates that the market is shifting from a risk-pricing approach to a more neutral one.

On the other hand, ETFs stand out as one of the strongest supporting factors in the market. Increased net inflows and rising MVRV ratios in US spot Bitcoin ETFs indicate continued investor interest and increasing profitability. Rising trading volumes also reveal that investors are becoming more willing to access Bitcoin through regulated financial instruments.

On the liquidity side, the decrease in “hot money” and the narrowing of negative changes in realized market value indicate that longer-term investors are gaining weight in the market. The balanced distribution of supply between short-term and long-term investors, and the continued confidence of long-term investors, suggest that the fundamental structure of the market remains strong.

Overall, despite increasing selling pressure, the market is attempting to remain balanced thanks to ETF inflows and long-term investor support, but a cautious outlook prevails in the short term.

*This is not investment advice.

Institutional activity targeting the Hyperliquid ecosystem in the cryptocurrency market continues to attract attention. Most recently, a large-scale transaction in $HYPE tokens by Paradigm, a leading investment firm, stood out.

According to on-chain data, Paradigm has unlocked approximately 2.14 million $HYPE tokens. This amount has a current market value of approximately $88 million. While this transaction does not represent a direct sale, investors are closely watching the possibility that the unstacked assets may be released into the market.

On the other hand, another notable development on the Hyperliquid side in recent months has been the wallet activity associated with Multicoin Capital. Previous on-chain analyses suggested that Multicoin may have sold a significant amount of Ethereum ($ETH) and shifted its holdings towards the $HYPE token. According to the data, the relevant wallet clusters and known Multicoin addresses made approximately $240 million worth of $HYPE purchases through Galaxy Digital, while sending approximately $230 million worth of $ETH to Galaxy.

*This is not investment advice.

US President Donald Trump made strong and striking statements regarding the negotiations with Iran. Trump argued that the new agreement being worked on would be “much better” than the previous Iran nuclear agreement known as the Joint Comprehensive Plan of Action (JCPOA).

Trump described the previous agreement as “one of the worst deals” for U.S. security, claiming it had pushed Iran down the path of developing nuclear weapons. He asserted that the new agreement would absolutely not allow such a result, and that a deal reached under his administration would guarantee peace and security not only for the Middle East but also for Europe and the U.S.

In his statements, Trump harshly criticized previous administrations, alleging that billions of dollars in cash transfers and economic resources were provided to Iran. The US President argued that these policies further destabilized the region and stated that the current negotiation process would create a stronger global security framework.

On the other hand, Trump claimed that Iran had fired shots in the Strait of Hormuz, a clear violation of the ceasefire agreement. He stated that a French ship and a British cargo ship were targeted in the incident, indicating a rise in tensions in the region.

Announcing that US officials would be traveling to Islamabad, the capital of Pakistan, to hold talks with Iranian representatives, Trump said the negotiating team would be in the region soon. Commenting on Iran’s decision to close the Strait of Hormuz, Trump argued that this actually coincided with the blockade imposed by the US and that Iran was suffering the greatest economic losses.

Trump explicitly stated that harsh military options were on the table if Iran did not accept the agreement, saying, “The US can target all power plants and bridges in Iran.”

Crypto asset management company Grayscale has taken a significant step towards developing an exchange-traded fund (ETF) based on $HYPE, the native token of the Hyperliquid ecosystem. The company has submitted amendment #1 of its S-1 registration application for “Grayscale $HYPE ETF” to the U.S. Securities and Exchange Commission (SEC).

According to the documents provided, the Grayscale $HYPE ETF aims to offer investors exposure to $HYPE without directly purchasing the asset. The fund, to be established within a Delaware-based trust, will directly hold $HYPE tokens, and the share price is intended to reflect the value of the amount of $HYPE held. It was also stated that staking income could be included in the fund’s performance under certain conditions.

If approved, the fund plans to trade on the Nasdaq Stock Market under the ticker symbol “GHYP”. However, it must fully meet both SEC approval and Nasdaq listing criteria before it can begin trading. The application states that the ETF shares will not initially have a publicly traded market and will be issued continuously.

According to Grayscale’s application, ETF shares can only be created and redeemed in blocks of 10,000 “baskets” through authorized participants. These transactions can be carried out both in kind (as a form of $HYPE) and in cash. Custody services will be provided by Anchorage Digital Bank, while transfer and administrative transactions will be handled by Bank of New York Mellon.

*This is not investment advice.

AlphaTON Capital has rebranded as Alpha Compute Corp., with its common shares now trading on Nasdaq under the ticker ALP, as the company shifts its public market identity toward AI GPU as a service and confidential compute infrastructure.

Alpha Compute said the name change reflects rising demand for scalable AI infrastructure built around privacy preserving workloads.

The rebrand gives a cleaner label to a strategy the company had already been building for months. In a January update filed with the SEC, AlphaTON said it had raised net $44 million in capital, was generating revenue from confidential compute infrastructure, and had deployed GPU capacity tied to Telegram’s Cocoon AI launch. That filing also outlined a broader infrastructure push centered on Nvidia B200 and B300 systems.

Alpha Compute is entering the rebrand with several recent deals already underway. The company said its existing obligations remain unchanged, including a $43 million AI infrastructure and financing partnership with Vertical Data, support for Telegram’s Cocoon AI, and the GAMEE acquisition.

Animoca Brands said in March that AlphaTON had agreed to acquire a 60% controlling interest in GAMEE, a gaming platform with 119 million registered users, in a deal intended to expand its Telegram ecosystem reach.

The rebrand also comes as the company faces Nasdaq listing pressure. In a March 2 filing, AlphaTON said it received a deficiency notice after its shares closed below $1 for 30 straight business days, leaving it until August 31, 2026 to regain compliance. In that context, the move to Alpha Compute appears designed to sharpen its market identity around AI infrastructure rather than its earlier Telegram linked investment narrative.

A new development has emerged in the large-scale security breach crisis originating from KelpDAO. According to an internal memo reviewed by CoinDesk, KelpDAO is allegedly preparing to shift responsibility for the approximately $292 million rsETH breach that occurred on Saturday to LayerZero.

According to the memo, KelpDAO stated that it relied on LayerZero’s documentation, default configurations, and team guidance when building its bridging infrastructure. Therefore, it is implied that the infrastructure and integration processes used were at the root of the security breach.

As you may recall, the security breach on the rsETH bridge triggered a chain reaction in the DeFi ecosystem, leading to liquidity pressure and “bad debt” concerns in many protocols, particularly Aave. Following the incident, billions of dollars worth of assets were withdrawn from Aave, and utilization rates in some pools reached 100%.

KelpDAO’s move, which points to LayerZero, has raised potential legal and technical liability issues, but neither party has yet issued an official and detailed statement.

*This is not investment advice.

Global liquidity is set to deteriorate sharply, according to Russell Thompson, chief investment officer at crypto asset manager Hilbert Group (HILB), who said even a quick geopolitical resolution in Iran is unlikely to sustain a rally in risk assets without policy support.

Liquidity conditions have stabilized in parts of the financial sector following the rollout of the reserve maturity program (RMP), Thompson said, but a broader tightening of 20%–25% is approaching, a significant drag that could leave bitcoin struggling in the near term.

“Even with a resolution quickly in Iran, I do not believe that risk assets will rally for any sustainable time without outside help,” Thompson said in the report published last week.

Thompson said he expects U.S. policymakers to respond. He pointed to likely measures including reform of the supplementary leverage ratio (SLR), a sizable drawdown of the Treasury General Account (TGA) without offsetting Federal Reserve bill issuance, and a series of rate cuts under a potential new Fed chair.

The SLR is a banking regulation that sets how much capital large banks must hold against their total leverage. The TGA is the U.S. Treasury’s main cash account at the Federal Reserve.

When the Treasury draws down the TGA (spends money from it), liquidity is effectively injected into the financial system; when it builds the TGA, liquidity is drained.

Bitcoin’s performance over the past six months has been marked by sharp volatility, a clear shift from late-2025 exuberance to a more fragile, macro-driven market.

After hitting an all-time high above $126,000 in October 2025, bitcoin entered a sustained drawdown through the end of the year and into early 2026. By February, prices had fallen to roughly $63,000, a decline of about 50% from the peak, amid a broader crypto market sell-off and tightening financial conditions. This period was characterized by weaker demand, exchange-traded fund (ETF) outflows and a more risk-off macro backdrop, with BTC underperforming equities in some stretches.

Bitcoin is currently trading around $75,600, leaving it significantly off its peak but no longer in freefall. The last six months, in short, have seen a full cycle: from peak euphoria, to a deep correction, to a tentative stabilization phase, with macro liquidity, policy expectations and investor positioning now the dominant drivers.

Advances in crypto regulation could also provide support. Thompson said he anticipates legal clarity on key measures before the summer recess and a faster-than-expected expansion of the Fed’s balance sheet as disinflationary pressures build.

Higher oil prices, he argued, could ultimately weigh on growth, while a softening labor market and emerging stress in private credit may add to the disinflationary backdrop.

Markets remain overly focused on the Federal Reserve as the primary source of liquidity, Thompson said, but the U.S. Treasury has significant capacity to inject funds into both the real economy and financial markets. With Treasury leadership experienced in deploying such tools, he expects a more proactive approach.

The result: short-term pressure on bitcoin, but improving conditions over the medium term.

Thompson said he expects bitcoin to be “significantly higher” by year-end as liquidity dynamics evolve. Even in a more protracted scenario, he sees liquidity bottoming around 2027, a timeline that could coincide with fresh all-time highs.

Read more: U.S. crypto adoption is rebounding, bitcoin still dominates, Deutsche Bank says

Bitcoin and other risk assets have become increasingly sensitive to statements from U.S. President Donald Trump, with markets often swinging upward or downward within minutes of his social media posts or policy announcements to the news media.

This has drawn scrutiny from lawmakers, academics and market experts, as questions mount over whether those price movements have created lucrative opportunities for market manipulation or insider trading.

A recent University of Oxford Faculty of Law study found sharp swings in global markets following rapid changes in U.S. tariff policy, including a sequence in which prices across crypto and stock markets fell after new tariffs were announced, then rebounded after Trump partially rolled them back days later.

The scale and timing of those moves, the author noted, created “fantastic trading opportunities” for anyone with advanced knowledge of the decisions. Also, those back-and-forth decisions by Trump have been widely criticized and called the Trump Again Chickens Out (TACO) dynamic.

‘A great time to buy’

The issue gained further attention after Trump posted “THIS IS A GREAT TIME TO BUY!! on Truth Social in April 2025 shortly before announcing a tariff adjustment that sent markets higher, prompting calls from lawmakers, including Senator Adam Schiff, for an investigationinto potential insider trading or market manipulation.

Analysts, experts and media reports have highlighted patterns of large, well-timed trades across commodities and prediction markets, in some cases placed minutes before major policy or military announcements.

“Many experts say the Trump administration has engaged in market manipulation,” according to a March episode of CBC’s Front Burner, which pointed to unusually massively profitable trades in oil futures ahead of announcements related to the war with Iran.

Democratic Congressman Stephen Lynch raised similar concerns. He said trading activity tied to major Trump announcements “raised serious concerns about insider trading and market manipulation by government officials in possession of sensitive national security information.”

There is no evidence that Trump or his administration have violated securities laws or purposely manipulated the markets for self gain, but the increasing number of unusually well-timed market moves, combined with the administration’s direct influence over policy, geopolitics and regulation, has fueled a broader debate over whether the line between political decision-making and market impact is becoming increasingly blurred.

Here are five top moments when bitcoin’s price swung either up or down due to a statement or social media post by Trump, from the “Genesis” skepticism of 2019 to the naval blockades of 2026.

The top five BTC price swings

1. July 11, 2019 — The “Not a Fan” Genesis Post. In his first direct broadside against the asset class, Trump posted on Twitter: “I am not a fan of Bitcoin and other Cryptocurrencies, which are not money… and based on thin air.” Bitcoin dropped 7.1% within 45 minutes of the thread.

2. March 3, 2025 — The Strategic Reserve Pivot. Following a year of pro-crypto campaigning, Trump confirmed via Truth Social that his “Strategic National Crypto Reserve” would include a multi-asset basket of cryptocurrencies, most notably bitcoin. Bitcoin surged 8.2% in under 24 hours, jumping from $84,000 to over $91,000.

3. October 10, 2025 — The 100% tariffs on China. In yet another Truth Social post, Trump announced a 100% tariff on all Chinese imports to counter Beijing’s rare-earth export controls. Bitcoin plummeted 12.4% in roughly two hours, crashing from its $124,714 all-time high toward $102,000. And in 24 hours, a $19.38 billion liquidation event had taken place, marking the largest single-day wipeout in the asset’s history.

4. March 3, 2026 — The Anti-Bank “Genius Act” Post. Trump took to Truth Social once again to criticize Wall Street banks for “undermining” the Genius Act and delaying the passage of the Clarity Act over stablecoin yield provisions. Bitcoin rose 5.2% in 10 minutes to $71,000. This moment highlighted the administration’s willingness to go to war with the legacy financial system to protect the crypto sector.

5. April 14, 2026 — The Peace Talks. Following the naval blockade of the Strait of Hormuz, Trump said that Iran had “reached out” for potential peace talks and that a deal was “very possible.” Bitcoin rose 6.2% within 30 minutes from $70,000 to nearly $75,000.

It might happen again

Bitcoin shot to a more than two-month high above $78,000 on Friday after Trump essentially announced the end of the war and the full reopening of the Strait of Hormuz. Yet, by the end of the day, there were already questions about exactly what the U.S. and Iran had agreed to.

By Saturday morning, Iran’s military said the Strait was again closed, and there were reports of some ships making U-turns and others being fired upon. Crypto prices were quickly giving back Friday’s gains, with bitcoin sliding back below $76,000.