President Trump’s feud with Elon Musk took a backseat as investors digested a better-than-expected labor report
The cryptocurrency market continues to experience significant volatility, with major assets like Bitcoin and Ethereum showing critical price movements that could shape future trends. Emerging cryptocurrencies such as Sui and
IOST’s native token surged following a $21 million strategic funding round aimed at expanding its real-world asset (RWA) infrastructure within a multi-chain ecosystem. The investment round, backed by prominent crypto
Hyperliquid coin is showing strong signs of bullish continuation after reclaiming key levels. A pennant formation on the daily chart may signal the next leg higher, if volume confirms the breakout. After a sustained uptrend marked by higher highs and higher lows, Hyperliquid ( Hype ) has entered a period of consolidation. This pause in momentum is forming a textbook bullish pennant, a pattern often associated with trend continuation. Technical confluence and reclaimed levels now position Hyperliquid for a potential breakout in the sessions ahead. Key technical points Pennant Formation on Daily Timeframe: Consolidation with converging trendlines suggests a coiling market preparing for a breakout. Reclaim of Volume Profile Levels: Price has reclaimed the value area low, point of control, and now trades above the value area high. Bullish Market Structure: A consistent sequence of higher highs and higher lows confirms the prevailing trend remains intact. HypeUSDT (1W) Chart, Source: TradingView As price consolidates within the pennant structure, Hyperliquid is trading tightly between dynamic support and resistance lines, forming an apex. This coiling action is a common sign of price compression and typically precedes a breakout. The context in which this pennant is forming, within a dominant bullish trend, adds strength to its breakout potential. The reclaim of major volume profile levels provides further insight into recent accumulation zones. Price moving above the point of control and reclaiming the value area high signals strong buyer interest and market acceptance at higher levels. You might also like: Cookie crypto price crumbling? Support holding firm at key level Importantly, Hyperliquid has maintained its bullish trend throughout the consolidation. Each pullback has been shallow, and no major support has been broken. This confirms the move is corrective in nature, rather than a reversal. However, one key factor is still missing: volume. For any breakout to be considered valid and sustainable, it must be accompanied by a surge in volume. Without this confirmation, price may continue to drift within the pennant or produce a false breakout. What to expect in the coming price action If Hyperliquid sees a strong breakout above the pennant resistance with a noticeable increase in volume, the bullish trend is likely to resume with momentum. Traders should monitor volume closely near the apex to confirm breakout strength and validate continuation toward new highs. Read more: Bitcoin, Ethereum going mainstream as JPMorgan, SEC open doors: Binance Research
Tigran Gambaryan, Binance’s Head of Financial Crime Compliance, is stepping down after four years of leading efforts against illicit finance and cybercrime within the crypto exchange. Gambaryan’s departure follows a
Today, four members of Congress, led by Thomas Massie, have introduced a bill to initiate the first comprehensive audit of America’s gold reserves. The Gold Reserve Transparency Act (H.R. 3795) requires a full assay, inventory, and audit of all United States gold holdings for decades. The four congress members are Reps. Thomas Massie, Troy Nehls, Addison McDowell, and Warren Davidson. According to Thomas Massie , “Americans deserve transparency and accountability from the institutions that underpin our currency.” H.R. 3795 will also require a full accounting of all purchases, sales, loans, pledges, leases, swaps, and other encumbrances of America’s gold that happened more than 50 years ago. These kinds of actions have not been made public. The public feud between US President Donald Trump and the world’s richest man, Elon Musk, raised questions about the future of the Department of Government Efficiency (DOGE) and its promise to examine America’s gold holdings in Fort Knox. However, DOGE’s work still continues without Musk. Gold audit to give a better outlook of the US economy It’s been decades since real inventories and assays of US gold stocks were done. Also, the Department of the Treasury has lost records and can’t explain why vault compartments were opened and closed again without new audits. Stefan Gleason, CEO of Money Metals Depository, said, “The lack of proper audits of America’s gold is highly alarming and totally unacceptable – such shoddy procedures would never pass muster in the private sector Even if a credible audit had been conducted several decades ago, auditing is never a ‘one and done’ affair.” The Gold Reserve Transparency Act, the Government Accountability Office, and outside independent inspectors will be able to see any depository or other public or private depositories where gold reserves are kept, along with the records that go with them. It could take up to a year to finish the process, which will happen again every five years. Also, more than ever, it is important to look into America’s safe money stash. This is because of rising inflation where $37 trillion in US federal debt looms large and because many central banks have been buying gold at record rates over the last few years. The audit will give a better outlook of the US economy. Will Germany change its mind on moving its gold from the US? The bill is expected to help restore confidence in the US dollar at a time when countries and central banks worldwide are reducing their USD exposure and actively moving their gold from the United States. As reported by Cryptopolitan, leaders in Germany are calling for the repatriation of their gold held in the custody of the Federal Reserve Bank of New York. Germany has 1,120 tonnes of gold, representing about one-third of its 3,352-tonne national reserve currently in US custody. The German Taxpayers Federation, Bund der Steuerzahler, issued formal letters to both the Bundesbank and the Finance Ministry, urging the immediate return of the gold stored in New York. Jp Cortez, executive director of the Sound Money Defense League, said, “Now is the time for transparency surrounding America’s gold. As gold is the ultimate form of money recognized the world over, safeguarding the US Treasury Department’s holdings of the yellow metal is very much a national security issue.” However, transparency is not the only reason. German says that the US is no longer the reliable partner it used to be. According to them, Trump is erratic, and one cannot rule out that someday he will come up with creative ideas on how to treat foreign gold reserves, especially because he wants to control the FED. Cryptopolitan Academy: Want to grow your money in 2025? Learn how to do it with DeFi in our upcoming webclass. Save Your Spot
Tensions between groups involved in Donald Trump’s expanding crypto ventures have intensified following the recent announcement of a TRUMP Wallet. World Liberty Financial (WLF) has reportedly sent a cease and desist letter to Fight Fight Fight, the company behind the TRUMP meme coin and its partner Magic Eden. Trump Wallet Dispute Escalates According to a Bloomberg report , the conflict began after Fight Fight Fight, run by Trump’s longtime ally Bill Zanker, revealed plans on Tuesday for a new TRUMP Wallet. Magic Eden, which is collaborating with the firm on the project, had promoted it on its social media account as “The First and Only Crypto Wallet for True Trump Fans.” The application would enable users to store and trade the TRUMP meme coin and other digital assets. Shortly after the announcement, Trump’s sons went on social media to say they were not aware of the initiative’s existence. Donald Trump Jr. also clarified that the Trump Organization is developing its wallet in partnership with World Liberty Financial. Confusion surrounding the wallet project has been intensified by inconsistencies in its online presence. The official website has fluctuated between being live and offline in recent days. Meanwhile, its associated X account has since been suspended. At the heart of the dispute is the fight for dominance over Trump-themed crypto products. This is due to the growing market fueled by the president’s supporters entering the crypto space. The President’s Growing Crypto Empire Fight Fight Fight and CIC Digital LLC launched the Trump meme coin in January. Since then, the project has brought in over $300 million in fees. The two companies still hold 80% of the token supply, now valued at around $1.7 billion. To boost interest, Zanker has promoted the coin for use in online shopping and hosted a private dinner last month near Washington, where Trump addressed major token holders. The upcoming wallet is now using similar promotions. Its website has offered free meme coins to users who sign up for its waiting list. Meanwhile, WLF has raised around $550 million through token sales since its launch last year. The Trump crypto venture also released a stablecoin called USD1 that currently has a market value of $2.2 billion. According to offering documents, a Trump-affiliated company receives 75% of the net revenue from the project. The First family also has 60% ownership of World Liberty through DT Marks DeFi LLC. Trump once questioned crypto but entered the space through Zanker, who suggested using his name on NFTs. Since then, they have launched four NFT collections and held dinners for supporters during his presidential campaign. Magic Eden has also worked with him on the projects. The post World Liberty Financial Sends Cease and Desist to Trump Wallet Creators (Report) appeared first on CryptoPotato .
In just 24 hours, a public spat between U.S. President Donald Trump and tech billionaire Elon Musk sent shockwaves through crypto markets. The Official Trump (TRUMP) token lost $233 million in market value. Dogecoin (DOGE) followed suit. Their feud, which began this week when Musk criticized Trump’s flagship tax and spending bill, has morphed into a wider story about how political dramas can sway digital assets. Political Rift Sparks Crypto Volatility On June 5, 2025, Elon Musk took to X (formerly Twitter) to lambast one of Trump’s spending proposals. Trump responded later the same day, calling Musk “disappointing” and suggesting their “great relationship” was over. Source: CoinMarketCap Musk fired back on May 23, accusing Trump of “ingratitude” and claiming that without him, Trump “would have lost the election.” Source: X Within hours, traders shifted positions. The Official Trump token’s market capitalization fell from $2.168 billion to $1.935 billion—an 11 percent swing that erased $233 million in value, according to CoinMarketCap data. TRUMP’s price slid from $10.83 to $9.66, a daily drop of 10.74 percent and a weekly decline of 15.58 percent. Trading volume surged to $876.85 million, up 211.87 percent in 24 hours. Meme Coins Under Pressure Musk’s beloved Dogecoin also felt the fallout. DOGE slipped 7.1 percent over the same 24-hour span. Volume on DOGE jumped to nearly $2 billion, a 149.75 percent increase, per CoinMarketCap data. The surge in trading activity suggests a knee-jerk reaction to Musk’s polemics. Both tokens illustrate how “narrative-driven” assets can be. TRUMP and DOGE, once buoyed by social media hype and celebrity endorsements, remain vulnerable to abrupt shifts in sentiment. These two tokens rank among the worst performers in the top 100 cryptocurrencies by market capitalization. Mega Caps: More Than Just Meme Coins The Trump–Musk feud did not confine its effects to TRUMP and DOGE. Several large-cap tokens saw muted but noticeable moves on May 23. Cardano (ADA) dipped 2.3 percent. Solana (SOL) fell 1.8 percent. Ethereum (ETH) lost 1.2 percent. Trading volumes for these altcoins rose between 15 and 40 percent, signaling traders hedging or rebalancing against the sudden narrative shift. Meanwhile, megacap assets like Bitcoin (BTC) and Ethereum—which together account for over 60 percent of total crypto market capitalization—saw slight volatility but maintained upward trajectories. For now, traders watch the headlines closely. Each tweet from Trump or Musk carries an immediate market impact. The Official Trump token traded at $9.66—down 10.74 percent for the day—while Dogecoin hovered at $0.317, off 7.1 percent. These moves underscore how real-world politics can shape on-chain valuations in minutes.
Greg Kidd, former Ripple CRO, is set to acquire a controlling stake in Known Labs using 1,000 Bitcoin, signaling a strategic pivot towards Bitcoin treasury management. This acquisition positions Kidd
Gambaryan, who is leaving the crypto exchange to explore roles in the public or private sector, is among a number of Binance executives to depart over the past two years.