A public fallout between Donald Trump and Elon Musk has rattled financial markets, sending Tesla stock tumbling and dragging the crypto sector into a broad risk-off retreat. The rift came to a head on June 5 during a White House meeting with the German chancellor, where Trump voiced his displeasure with Musk , who until recently had been one of his closest advisers. “I’m very disappointed in Elon,” Trump said. “I’ve helped Elon a lot.” Musk wasted no time responding. In a pointed post on X, he accused Trump of ingratitude and fired back, “Without me, Trump would have lost the election.” The exchange marked a dramatic unraveling of their once-powerful alliance, built during Trump’s second term. Musk Swipe at Trump Adds Fuel to Market Volatility Tensions escalated further when Musk replied “Yes” to a post on X calling for Trump’s impeachment . The remark drew immediate attention, although any such effort is considered politically impossible, as Republicans currently hold majorities in both chambers of Congress. Yes https://t.co/rqRsX8B4Hg — Elon Musk (@elonmusk) June 5, 2025 Markets quickly reflected the fallout. Bitcoin dipped to $100,783 on Thursday before recovering above $102,700. Over $324m have been liquidated in Bitcoin longs in the last 24 hours, according to Coinglass data . The broader crypto market fell nearly 5% during the same time. The $TRUMP meme coin, which had surged during the peak of their alliance, slid 10%. Analysts say Musk’s influence in the crypto space, combined with the political uncertainty, has introduced fresh instability into an already volatile market. Tesla Plunges as Rift With Trump Threatens Federal Support Tesla shares, meanwhile, suffered a sharper decline. The stock closed 14% lower on Thursday and has fallen 16% since Musk began attacking Trump’s domestic policy bill last week. The market was hit hard by the Trump and Musk issues. But in fact, the impact of these issue is unlikely to have a significant impact on the crypto market. Just, whales used this issue to liquidate their long positions. NASDAQ fell due to Tesla, and this impact may not be… — CW (@CW8900) June 6, 2025 It now trades roughly 33% below where it stood on Inauguration Day, showing growing fears that the feud could jeopardize billions in federal subsidies and contracts vital to Tesla’s long-term prospects. Until recently, Musk had served as a key informal adviser to Trump, helping shape major policy decisions and frequently representing the administration abroad. His sudden departure from that inner circle has left a noticeable void in tech-policy alignment, with markets now unsure of how the administration will proceed on key issues such as electric vehicles and space infrastructure. Adding to the uncertainty, Musk has hinted at launching a new political movement altogether. That possibility, along with the risk of a regulatory reversal or funding pullback, has left investors bracing for a more hostile environment. And that’s not just for Tesla, but for the broader tech and crypto sectors that have often moved in tandem with Musk’s influence. The clash has become more than a political sideshow. It is a rare case of personality-driven politics colliding with market fundamentals. For now, both crypto and Tesla appear firmly caught in the crossfire. The post Trump vs Musk: Crypto Market Turns Red, Tesla Closes 14% Lower appeared first on Cryptonews .
The post Why are Bitcoin and XRP Prices Going Down Today? appeared first on Coinpedia Fintech News The cryptocurrency market is feeling the heat today, with both Bitcoin and XRP taking hits. Bitcoin is down by more than 3% and this shift in sentiment is partly due to an unexpected clash between Elon Musk and the U.S. President Donald Trump, which has been making headlines. While it’s not a full-blown financial crisis, the uncertainty is enough to make investors a bit jittery — and markets generally don’t react well to surprises. On the technical front, Bitcoin’s RSI (Relative Strength Index) is trending downward, hinting that it might soon enter the oversold territory. Bitcoin could test the $98,000 support level if the downward trend continues. Although this drop is worrying for some, it’s also a typical part of the market cycle. The bull market isn’t finished yet — Bitcoin is still above its crucial 200-day moving average, and a price recovery could be on the horizon after a bit of consolidation. Adding to the pressure, over $285 million in long positions were liquidated across the crypto market in the past 24 hours, pushing prices down further. However, global liquidity metrics — which measure the flow of money in financial markets — remain robust. That’s a promising sign for a potential recovery in the weeks ahead. As for XRP, there’s some good news on the regulatory side. New documents confirm that XRP will be recognized as a utility token under Europe’s MiCA (Markets in Crypto-Assets) regulation. This clarification strengthens Ripple’s long-term strategy in cross-border payments. Yet, like the rest of the market, XRP’s price is also caught in the broader downtrend. It’s currently holding key support levels around $2, and technical analysis shows that there might be a possible rebound. Some believe that if XRP can maintain its position above this zone and replicate a pattern seen during its last major rally, it could see a climb. In short, today’s crypto price drop is driven by a mix of market uncertainty, technical signals, and mass liquidations — but long-term prospects for both Bitcoin and XRP remain intact.
Trump Media and Technology Group Corp. (DJT), the parent company of Truth Social, has filed a Form S-3 registration statement with the US Securities and Exchange Commission (SEC). This will help to facilitate the resale of securities tied to its recently announced $2.3 billion Bitcoin treasury initiative . The filing relates to 56 million shares of common stock and 29 million shares underlying convertible notes purchased by approximately fifty investors under debt and equity subscription agreements. The funds are intended to fund the Bitcoin treasury and for general corporate purposes. In addition to the resale registration, Trump Media has come to market with a universal shelf registration as part of the S-3 filing. Such provision provides the flexibility to undertake capital-raising transactions in the future, such as mergers and acquisitions or at-the-market offerings. There are no current plans, proposals, or arrangements to issue any of these securities under the shelf registration statement at this time. Trump Media joins Bitcoin power players with bold treasury bet The company’s Bitcoin treasury initiative marks a bold entry into the cryptocurrency space, mirroring similar moves by industry giants like MicroStrategy and Tesla. While investor participation in the funding round reflects strong confidence, the registration of a large number of shares for resale raises questions about future market supply pressure. Although no acquisition targets have been disclosed, the mention of pursuing “crown jewel assets” signals an ambitious plan for strategic growth and expansion. CEO Devin Nunes said the moves are meant to give the company the capital and flexibility it needs for “aggressive growth” and to engage more users on its platforms, which include Truth Social, the streaming app Truth+, and the fintech brand Truth. Fi. This puts Trump Media among an expanding group of public companies that hold Bitcoin as a treasury asset. The company’s stock has been volatile, declining 56.3% over the last 12 months, though it has recently tried to shore up its financial position. The S-3 filing is a major step for Trump Media’s pivot to crypto investments, with the move indicative of a more general trend toward institutionalizing cryptocurrencies. Trump tightens pro-crypto grip as key nominees advance in Senate Trump Media’s crypto initiatives occur within a shifting regulatory landscape. President Trump’s administration has taken steps to roll back previous crypto regulations. This includes appointing crypto-friendly officials and banning a US central bank digital currency. These policy changes aim to position the United States as a global leader in digital assets. Just a few hours ago, the US Senate confirmed Federal Reserve Governor Michelle Bowman to serve as vice chair for supervision at the central bank — a move that Sen. Cynthia Lummis said “signals a brighter future for digital assets.” Bowman, who received President Trump’s nomination for the role in March, secured confirmation in a 48-46 Senate vote. She has served as a Fed governor since 2018. In April, during her testimony before the Senate Banking Committee, Bowman criticized the US regulatory framework as having “grown expansively to become overly complicated and redundant,”. She cited conflicting and overlapping requirements. Notably, she did not reference cryptocurrency during her nomination hearing. The Senate Agriculture Committee is also scheduled to consider Trump’s nomination of Brian Quintenz to chair the Commodity Futures Trading Commission on June 10. KEY Difference Wire helps crypto brands break through and dominate headlines fast
Around 30,700 Bitcoin options contracts will expire on Friday, June 6, and they have a notional value of roughly $3.2 billion. This week’s event is much smaller than last week’s end-of-month expiry, so the impact on spot markets is likely to be minimal. They have already tanked by $150 billion over the past twelve hours. Crypto Options Expiry This week’s batch of Bitcoin options contracts has a put/call ratio of 0.76, meaning that there are slightly more long contracts expiring than shorts as sentiment cools. There is also a max pain point of $105,000, around $2,000 above current spot prices, which is where most losses will be made on contract expiry. Open interest (OI), or the value or number of BTC options contracts yet to expire, is highest at the $115,000 strike price, which has $1.7 billion, and there is an additional $1.6 billion in OI at the $140,000 strike price as bullish speculators remain confident, according to Deribit. Options Expiry Alert At 08:00 UTC Friday, over $3.8B in crypto options are set to expire on Deribit. $BTC : $3.21B notional | Put/Call: 0.76 | Max Pain: $105K $ETH : $624M notional | Put/Call: 0.69 | Max Pain: $2,600 Calls dominate up the curve. What do you expect to… pic.twitter.com/qipjSBR43l — Deribit (@DeribitOfficial) June 5, 2025 In a market update on Thursday, crypto derivatives provider Greeks Live said the group appears predominantly bearish, “with most traders expecting a continued correction in Bitcoin despite the recent upward movement.” “Traders are watching the $105 to $109K resistance level for BTC while mentioning that volatility remains persistently low, creating challenging conditions for options traders.” They added that short call positions, especially in the $108K to $109K range for June 7 expiry, are popular as “traders expect BTC to remain under this resistance.” “Most are avoiding longing at current levels despite the temptation, with some expecting a deeper flush before considering long positions.” In addition to today’s batch of Bitcoin options, there are around 241,000 Ethereum contracts that are also expiring today, with a notional value of $624 million, a max pain point of $2,600, and a put/call ratio of 0.69. This brings Friday’s combined crypto options expiry notional value to around $3.8 billion. Crypto Market Outlook Crypto markets have tanked 5.5% on the day with total capitalization sliding to $3.3 trillion, its lowest level for almost a month. Bitcoin led the losses with a 2.7% dump to $101,000 before a slight recovery during the Friday morning Asian trading session. The asset has now lost almost 9% since its all-time high, but is teetering on support levels in six figures for now. Ethereum’s momentum has ended with a 7% dump from over $2,600 to around $2,400, where it was trading at the time of writing. The altcoins were predictably in more pain with larger losses for Dogecoin, Sui, and Shiba Inu. The post Will $3.8B Crypto Options Expiry Impact Market Momentum? appeared first on CryptoPotato .
Trump Media & Technology Group, the parent company of Truth Social, has filed a Form S-3 registration statement with the U.S. Securities and Exchange Commission following a $2.3 billion raise to build one of the largest Bitcoin treasuries. The registration, announced in a June 5 press release, is tied to recent debt and equity agreements with around 50 investors. These deals include the sale of 55.8 million common shares at $25.72 each and the issuance of $1 billion in zero-coupon convertible notes due 2028, convertible at $34.72 per share. In total, the company raised approximately $2.32 billion. According to the filing, the proceeds will be used to acquire Bitcoin ( BTC ) and support general corporate activities. Crypto.com and Anchorage Digital have been selected as custodians for the company’s Bitcoin holdings. In addition to registering roughly 56 million shares and 29 million convertible-note-linked shares for resale, the filing includes a universal shelf provision. As part of its larger growth strategy, this allows TMTG the flexibility to issue more securities in the future. The company stated it has no immediate plans to use the shelf but views it as a strategic tool for potential mergers, acquisitions, or other funding needs. You might also like: Trump Media executives launch SPAC to raise $179m for crypto and tech sectors Chief executive officer Devin Nunes said the move aligns with Trump Media’s long-term vision. “We’re systematically putting in place the elements we need to grow the Company according to our plans, acquire crown jewel assets, and draw more customers and users into the patriot economy,” Nunes stated. He also emphasized that the capital raise and Bitcoin strategy are part of the company’s efforts to maintain independence from traditional financial institutions. Trump Media has positioned the move as a defense against what it sees as discriminatory practices by banks and financial platforms. Nunes previously described Bitcoin as the “apex instrument of financial freedom,” saying it supports the company’s “America First” mission. The filing comes on the heels of Trump Media’s announced plans to collaborate with Crypto.com on new crypto exchange-traded funds and financial products. With this move, the company joins other public firms, such as Strategy and GameStop, that are leveraging capital markets to accumulate digital assets. Read more: Trump media trademarks crypto payment service ‘TruthFi’
Bitcoin’s price plunged unexpectedly, influenced by Musk and Trump's fallout. Speculation and fear drove the cryptocurrency market's reaction. Continue Reading: Chaos Erupts as Trump and Musk’s Feud Shakes Cryptocurrency Markets The post Chaos Erupts as Trump and Musk’s Feud Shakes Cryptocurrency Markets appeared first on COINTURK NEWS .
The US Department of Justice has taken action against the darknet marketplace known as BidenCash, announcing the seizure of cryptocurrency assets and 145 internet domains linked to its operations. The announcement came from the US Attorney’s Office for the Eastern District of Virginia, detailing the culmination of a coordinated investigation into a platform that had facilitated the sale of stolen credit card data and personal information to thousands of users. Crypto Seizure and Domain Takedown Launched in March 2022, BidenCash quickly emerged as a hub for illicit transactions, offering stolen payment credentials and identity data to a growing customer base . The marketplace reportedly accumulated more than 117,000 users and was responsible for the distribution of over 15 million compromised payment card numbers. The DOJ stated that BidenCash administrators collected fees on transactions and earned over $17 million in revenue during its run. As part of the enforcement effort, authorities obtained court approval to seize cryptocurrency funds that were used by BidenCash to facilitate the exchange of illicit goods and services. The specific amounts and wallet addresses involved have not been disclosed, but the government emphasized that these digital assets represented proceeds from illegal transactions conducted on the platform. Moving forward, the seized domains will be redirected to law enforcement-controlled servers, preventing further access or use. The investigation also revealed a promotional tactic used by BidenCash: between October 2022 and February 2023, the platform published 3.3 million stolen credit cards free of charge to encourage wider usage of its services. These leaked datasets contained full cardholder information, including credit card numbers, CVV codes, expiration dates, names, email addresses, and physical locations . The exposure of this information raised significant concerns around identity theft and fraud in affected jurisdictions. International Collaboration and Cybercrime Enforcement The enforcement operation was led by the US Secret Service’s Frankfurt Resident Office and the FBI’s Albuquerque Field Office, with cyber forensic assistance from the Secret Service’s Cyber Investigative Section. The case also involved international coordination with law enforcement bodies, including the Dutch National High Tech Crime Unit, The Shadowserver Foundation, and cybersecurity firm Searchlight Cyber. Officials involved in the announcement included US Attorney Erik S. Siebert, Special Agent John Szydlik of the US Secret Service, and Acting Special Agent Philip Russell of the FBI. The operation marks a continuation of US federal efforts to dismantle cybercriminal infrastructure operating on the dark web and to disrupt illegal marketplaces that rely on cryptocurrency for payments. This takedown follows other notable actions against dark web platforms in recent years, including the closures of Hydra Market and AlphaBay. Featured image created with DALL-E, Chart from TradingView
Russia is entering the cryptocurrency derivatives market, as the Moscow Stock Exchange kicked off bitcoin futures trading on June 4, limited exclusively to “highly qualified” investors. This move comes as Russia cautiously experiments with crypto-related financial instruments, amid ongoing regulatory uncertainty. These new contracts are linked to Blackrock’s bitcoin exchange-traded fund (ETF), the Ishares Bitcoin
Circle stock opened up to 68% above its $31 IPO price, indicating strong investor demand. Circle’s USDC holds a $61.5B market cap, second to Tether, but shows consistent revenue growth. Analyst Jacob Zuller expects Circle’s market share to reach 40% if U.S. stablecoin regulation advances. Circle Internet Group priced its initial public offering (IPO) at $31 per share on June 4, 2025, above its revised target range of $27 to $28. The crypto firm is now set to begin trading on the New York Stock Exchange under the ticker symbol, CRCL. Early premarket indications for the stock show a price between $50 and $52, reflecting a 61% to 68% increase over the IPO price. “Massively Oversubscribed” Offering Raises $1.1 Billion The IPO raised nearly $1.1 billion and gave Circle a market capitalization of approximately $6.8 billion at the offering price. Including options and underwriter purchases, the valuation rises to around $8 billion. One trading executive said that the offering was “massively oversubscribed,” suggesting that demand exceeded the 34 million shares offered. Circle’s listing comes as crypto assets recover. Bitcoin has gained over 35% s… The post Circle Shares Indicated at $50/$52 Versus $31 IPO Price appeared first on Coin Edition .
James Wynn, a pseudonymous crypto trader who rose to online fame for turning meme coin bets into millions, has revealed he lost $100m in a matter of days after an aggressive string of leveraged trades on Hyperliquid. Wynn, who first gained attention for turning a $7,000 position in the meme coin PEPE into over $25m, shared his story Friday on X. In a candid post, he said he began trading perpetual futures in March, despite having no prior experience with derivatives. “I started trading on perps in March, had never traded perps before, in fact never really traded properly before. I’ve just traded meme coins,” he wrote. I started trading on perps in March, had never traded perps before, in-fact never really traded properly before, I’ve just traded meme coins. (Before I was known for calling pepe at 600k and making 8 figures). In one month I turned about $3m into $100m and then lost it all in… — James Wynn (@JamesWynnReal) June 6, 2025 From Meme Coins to Millions, Then Mayhem That inexperience did not hold him back, at least initially. Within a month, Wynn said he turned a $3m position into $100m through a series of high-leverage trades. His success, all trackable on-chain, attracted attention fast. His social media following ballooned as crypto traders scrambled to replicate or monitor his positions. But the newfound visibility proved double-edged. Wynn admitted that the pressure of being in the spotlight warped his judgment. “With all this new attention the trading spiraled out of control. I was basically gambling,” he said. “I got greedy. I wasn’t taking the numbers on the screen seriously.” Transparency Made Wynn a Star—Then a Cautionary Tale In mid-May, Wynn had amassed a $1.25b long position on Bitcoin , betting big at an average entry price of around $108,243. The position, built with as much as 40x leverage, left little margin for error. When US President Donald Trump posted a tweet threatening tariffs on the European Union, global markets turned sharply. Bitcoin dipped below Wynn’s liquidation price, wiping out nearly his entire position in a series of cascading losses. The rapid reversal shocked many in the crypto community, where Wynn had become a divisive figure. Some hailed him as a modern trading icon, while others accused him of reckless gambling or even market manipulation. The post Crypto Trader James Wynn Confesses He ‘Lost Control’ After Losing $100M in a Month appeared first on Cryptonews .