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Famed hedge fund manager Paul Tudor Jones has called Bitcoin the best inflation hedge, stating it is undoubtedly better than gold, CoinDesk reported. In an interview, he explained that unlike gold, whose supply increases every year, Bitcoin has a limited issuance, making it inherently scarce. Jones also emphasized that the U.S. stock market is overvalued, predicting it will be very difficult to make money in stocks over the next 10 years. He added that the enterprise value of the S&P 500 is reminiscent of the dot-com bubble in 2000.

The three major U.S. stock indices closed lower today. - S&P 500: -0.49% - Nasdaq: -0.90% - Dow Jones: -0.06%

Samson Mow, CEO of Bitcoin technology company Jan3, has predicted that Bitcoin is not far from reaching $1 million. In an interview with BeInCrypto, Mow stated that while everything is currently uncertain, he anticipates an "omega candle"—a single-day price increase of over $100,000—and a subsequent surge to $1 million will happen soon. He attributed this forecast to the immense buying pressure from companies like Strategy. Mow also remarked that any Bitcoin price under $120,000 is undervalued.

Bitwise CIO Matt Hougan has identified Strategy's preferred stock, STRC, as a primary driver behind Bitcoin's 20% rally from its February lows. According to The Block, Hougan believes that while several factors are at play, Strategy is the single largest contributor. He pointed out that Strategy has acquired an additional $7.2 billion worth of Bitcoin in the past eight weeks and is expected to raise billions more for future purchases via STRC. Hougan further explained that, in theory, Strategy could sustain dividend payments for 42 years at Bitcoin's current price. He added a caveat: if the price of BTC remains static until 2068, the company would fail. Conversely, an annual price increase of 20% would allow Strategy to pay dividends indefinitely.

The Trump family's cryptocurrency project, World Liberty Financial (WLF), has allegedly partnered with individuals linked to a fraudulent organization previously sanctioned by U.S. authorities, The Wall Street Journal (WSJ) reported. According to the report, WLF was found to have collaborated with a specific crypto project run by figures who were either on the U.S. government's sanctions list or had engaged in illegal financial activities.

U.S. investment bank Bernstein has predicted that Iren (IREN), formerly Iris Energy, will completely exit the cryptocurrency mining business within the next few years as it rapidly transforms into a high-speed artificial intelligence (AI) cloud provider, Decrypt reported. Bernstein lowered its price target for IREN to $100 from $125 but maintained its outperform rating. The bank explained that the downward revision of the target price is due to two factors unrelated to Iren's core business outlook: a reduction in the scale of its Bitcoin mining operations and an increase in outstanding shares following a recent stock issuance. Bernstein clarified that its AI-related targets for the company have not been weakened.

U.S. intelligence agencies are analyzing Iran's potential reaction to a victory declaration by President Donald Trump, according to sources. Officials believe that while military options remain, the likelihood of the situation escalating into a large-scale conflict has decreased.

Coinbase announced it has halted trading support for TRU. The migration deadline for the token is May 10. Holders must use a self-custody wallet compatible with the official portal to complete the swap.

The U.S. Commodity Futures Trading Commission (CFTC) has filed a lawsuit against the state of Wisconsin, alleging infringement on its jurisdiction over prediction markets, the Watcher.Guru X account reported. Previously, Wisconsin sued prediction market operators such as Kalshi, Coinbase, Polymarket, Robinhood, and Crypto.com, arguing that their event contracts constitute gambling rather than investment products.

DeFi protocol Aave has announced a detailed recovery process for the rsETH bridge vulnerability exploit that occurred on April 18. The plan, led by the industry joint response team DeFi United, aims to restore the collateral value of the leaked rsETH to its original level of 1.017 ETH. The recovery will begin with a governance proposal to resolve affected positions and a temporary adjustment of the rsETH price to facilitate liquidations. Recovered tokens will be collected in a multi-signature wallet, redeemed for ETH, and used to cover shortfalls in each market. Aave expects to recover approximately 13,000 ETH through this process. The movement of related assets will remain frozen until the recovery is complete.

Chiliz (CHZ) has announced it will expand over 70 of its fan tokens to the Solana and Base networks to boost trading activity. According to CoinDesk, Chiliz launched its own Layer 1 network in 2023 to support token trading but now plans to shift to an omnichain model. By using the Omnichain Fungible Token (OFT) standard, the tokens will have a unified supply across each supporting chain, eliminating the need for wrapped tokens or fragmented liquidity pools. Chiliz stated that the expansion ahead of this summer's FIFA World Cup is expected to help increase trading volume, adding that more tokens are scheduled for release in June.

President Donald Trump's approval rating stands at 34%, down two percentage points from 36% in mid-April, according to a Reuters/Ipsos poll.

Bitcoin miner Riot Platforms (RIOT) has converted its $200 million loan agreement with Coinbase from a variable to a fixed interest rate to enhance cost predictability, CoinDesk reported. The loan's maturity has also been extended by 364 days, with an option for an additional one-year extension subject to lender approval. The loan size and collateral structure, which includes Bitcoin, USDC, and cash held in Coinbase Custody, remain unchanged. CoinDesk noted that while Riot secured a fixed rate and an extended maturity, the company appears to have little room to maneuver against price drops due to its reduced Bitcoin holdings and loan-to-value (LTV) triggers. Riot has been shifting its business focus to artificial intelligence (AI) and high-performance computing (HPC) infrastructure while continuously reducing its Bitcoin reserves. The company's Bitcoin holdings have decreased from 19,368 BTC at the start of the year to 15,680 BTC.

According to cryptocurrency exchange CEX.IO, the short funding rate paid by traders betting on price declines reached an annualized rate of approximately 11% in April, at one point surging to 19%. This marks the highest level since early 2023, suggesting an excessive concentration of bearish sentiment in the market.

Coinbase has announced the listing of WRON.

RWA yield platform Nuva has raised $5.2 million in a seed funding round. According to The Block, the round was led by Morgan Creek Digital, with participation from Ulu Ventures and others. The company's valuation was not disclosed. The funds will be used for the development of Nuva Finance.

Canadian billionaire and gold advocate Frank Giustra has publicly criticized MicroStrategy's (MSTR) goal of accumulating one million Bitcoin. MicroStrategy currently holds approximately 818,000 BTC and, at its current pace, is projected to reach the one million BTC mark—equivalent to 5% of the total supply—this August. Writing on X (formerly Twitter), Giustra dismissed the symbolic significance of the target, questioning what it truly means for Chairman Michael Saylor to hold 5%. He specifically pointed to Saylor's high price target of $49 million for Bitcoin, describing it as a tactic to stimulate human greed and FOMO to maintain buying pressure. Giustra suggested that MicroStrategy's strategy relies solely on an overheated market.

The Over Foundation announced yesterday evening that it has suspended all service operations for the Over Protocol due to financial difficulties. Consequently, core infrastructure services such as OverWallet, OverNode, RPC endpoints, and the block explorer have all been shut down, with the foundation stating there are no plans for recovery. The foundation also explained that while the Over Protocol was designed to be decentralized, the service suspension by its operating entity will likely cause the chain to effectively halt. The foundation expressed regret, stating that it had aimed to build a Layer 1 network open to everyone but was unable to see the project through to completion.

Saturn has surpassed $100 million in Total Value Locked (TVL) just 20 days after its launch.

Coinbase announced the listing of VIRTUAL.

A whale address associated with crypto financial services firm Matrixport has opened an ETH long position, Onchain Lens reported. The whale, who has previously earned over $59 million in profits, opened a 15x leveraged position with 30,000 ETH (approximately $68 million) over the past hour. Currently, the whale holds a total long position of 58,000 ETH (about $131 million) across three wallets.

Stablecoin issuer Circle announced that it now officially supports USDC and its Cross-Chain Transfer Protocol (CCTP) on the Pharos network.

Michael Terpin, an early Bitcoin investor known as the Godfather of Crypto, has projected that the price of Bitcoin has not yet reached its bottom and is unlikely to hit a new all-time high this year. In a recent interview, Terpin said that for a full-fledged bull market to begin, the price would need to surpass the $100,000 mark, but he sees no clear support level at present. Citing past cycles and the establishment of resistance at $80,000, he predicted that the bottom is likely to form around the $57,000 level this October.

Whale Alert reported that 250 million USDC has been minted at the USDC Treasury.

Whale Alert reported that 250 million USDC has been minted at the USDC Treasury.