President Donald Trump told ABC News on Tuesday that the Department of Justice received fraud referrals based on work done by the Department of Government Efficiency, the federal cost-cutting agency created and led by Elon Musk. Trump was asked directly if any referrals were sent from DOGE’s investigations, and he said, “Of course there have been.” He didn’t name anyone. No offices. No departments. Just said the referrals exist. And he didn’t say it once. He repeated it many times, sticking to the same words each time he was pushed — classic Trump. No more details. No breakdowns. But that confirmation puts DOGE deeper into the middle of this administration’s crackdown on bloated government systems. The Department of Government Efficiency has been wrecking through federal programs. Since January 20, over 200,000 federal workers have been fired. Whole agencies got torn down or stripped to skeletons. Legal fights broke out as soon as the firings began, with multiple challenges already in motion. DOGE cuts through agencies while Elon steps back Musk, whose title is “special government employee,” has been running DOGE from the inside. That role, however, ends in May—130 days after it started. Musk told reporters he won’t continue in the same role full-time, but he still plans to help Trump overhaul departments from the outside. The fact that Musk is stepping down makes the future of DOGE unclear. Without its loudest enforcer, no one knows who’s calling the shots. But people close to Trump say the cost-cutting won’t stop. The mission stays on track whether Musk stays or not. What happens to its leadership next is still undecided. The entire campaign has pissed off critics, who say the cuts are reckless and cruel. They argue DOGE has endangered key sectors like emergency services and foreign aid. But Trump and Musk say this is what it takes to wipe out corruption, overspending, and useless programs. DOGE, which has been updating its progress on its official website, claims it has saved $160 billion for U.S. taxpayers. That site, though, has been full of errors. Numbers posted keep getting edited, retracted, or corrected. The goal? Save $2 trillion. So far, they’re nowhere near that number. U.S. Treasury borrowing drops under DOGE’s knife A new report reposted Tuesday by DOGE’s X account (formerly Twitter) used data from the U.S. Treasury Department to show that the federal government’s borrowing needs had dropped. Specifically, for the second quarter of 2025, borrowing needs came in $53 billion below what was expected back in February. The change was directly linked to DOGE’s work cutting down operating costs across agencies. The Treasury, in its Q2 and Q3 calendar update, added a note confirming that “the current quarter borrowing estimate is $53 billion lower than announced in February.” That’s not a small drop. It’s connected to DOGE’s slashes in budget lines and personnel. And while it’s not solving everything, it’s clearly slowing down the rate of government borrowing—at least for now. The Treasury said tax receipts are “slightly above prior-year levels,” and spending is hanging near the bottom end of the historical range. The full statement added: “Fiscal flows year-to-date are coming in better than expected (thank you, DOGE). Gross receipts are tracking slightly above prior-year levels (adjusted for CBO forecasts for 2025), while outlays are closer to the bottom of the historical range, although sadly nowhere near enough to make a notable impression over the long term.” So DOGE is saving money, just not fast enough to fix everything. But it’s chipping away, and that’s enough for Trump to stay committed to it. Cryptopolitan Academy: Coming Soon - A New Way to Earn Passive Income with DeFi in 2025. Learn More
Owners of Ledger hardware wallets have reported receiving fake physical letters designed to trick them into revealing their wallet seed phrases as part of a new wave of crypto scams. On April 29, tech analyst Jacob Canfield posted a warning on X , sharing a scam letter that had arrived at his home. Disguised as official correspondence from Ledger, the letter instructed him to perform a “critical security update” by scanning a QR code and entering his 24-word recovery phrase. Ledger Scam Letter Mimics Official Mail With Logo and Reference Number The professionally designed letter included Ledger’s logo, a return address, and a reference number to lend credibility. It warned that failure to complete the “validation” could result in restricted access to the user’s funds—an intimidation tactic meant to spur action. Ledger responded directly to Canfield’s post, confirming the letter was fraudulent and part of a phishing attempt. “Ledger will never ask for your 24-word recovery phrase,” the company reiterated, advising users not to trust unsolicited messages or individuals claiming to be Ledger representatives. Seed phrases, often 12 to 24 words long, are the most sensitive component of a crypto wallet. Anyone who gains access to them can take full control of a user’s assets. Some community members suspect the scam stems from Ledger’s infamous 2020 data breach, when the personal information of over 270,000 customers—including names, emails, and home addresses—was leaked online. You are correct, this is a scam. We appreciate your efforts to warn others. Please stay vigilant against phishing attempts. Scammers impersonating Ledger and Ledger representatives are unfortunately common. While we actively report and block scammers, we can't control what… — Ledger (@Ledger) April 29, 2025 That incident was followed by numerous phishing campaigns, including one in which tampered Ledger devices were mailed to victims to install malware. The recent mail scam appears to be another tactic targeting those affected by the breach, showing how long the consequences of data leaks can linger in the crypto world. Phishing Scam Targets Coinbase, Gemini Users In March, several crypto users flagged sophisticated phishing scam emails , which targeted Coinbase and Gemini users with legit-looking fraudulent emails. The mass email reportedly arrived in various user inboxes on Saturday. The scam mail pointed to a class action lawsuit against Coinbase for allegedly involving in unregistered securities, adding that the court has mandated users to convert their assets into self-custody wallets. Further, the mail also stressed that the deadline to transfer user assets to a self-custodial wallet is April 1st, 2025. As reported, in the first three months of 2025, the crypto ecosystem lost a whopping $1,635,933,800 across 39 incidents, according to the blockchain security platform Immunefi . The report claimed, “Q1 2025 marks the worst quarter for hacks in the history of the crypto ecosystem.” Most of that was the result of only two hacks of two centralized exchanges. Phemex suffered a $69.1 million loss in January, while Bybit lost $1.46 billion in February. Subsequently, the total number of losses in the first quarter marks a 4.7x increase compared to Q1 2024 . At that time, hackers and fraudsters stole $348,251,217. Notably, experts assume that the infamous North Korean Lazarus Group is behind the two largest attacks. They stole $1.52 billion, which is 94% of total losses. The post Crypto Scammers Go Old School: Ledger Users Hit with New Seed Phrase Mail Scam appeared first on Cryptonews .
The post Roswell Becomes First U.S. City to Hold Bitcoin as a Reserve Asset appeared first on Coinpedia Fintech News Roswell, New Mexico, has made history by becoming the first city in the United States to adopt Bitcoin as part of its strategic financial reserves. This move marks a bold step toward integrating digital assets into public finance. By holding Bitcoin, the city aims to diversify its treasury and position itself for long-term financial strength. Roswell’s decision reflects growing interest in Bitcoin as a hedge against inflation and a modern store of value for municipalities.
The world of corporate finance is steadily evolving, and it seems the intersection of traditional business and digital assets is becoming increasingly common. The latest news making waves comes from Japan, where a well-known Japanese fashion brand , ANAP, has significantly increased its exposure to the leading cryptocurrency. This move by ANAP to boost its ANAP Bitcoin holdings is more than just a financial transaction; it signals a growing trend we’re seeing globally. ANAP Bitcoin: A Significant Increase in Holdings According to an announcement shared by Bitcoin Magazine on X, ANAP Holdings, the parent company overseeing the popular Japanese fashion brand ANAP, has made a notable addition to its balance sheet. The company recently acquired 35 Bitcoin (BTC), a purchase valued at approximately $3.3 million at the time of the announcement. This isn’t ANAP’s first foray into the crypto space, but it certainly represents a substantial increase. With this latest acquisition, ANAP’s total ANAP holdings of Bitcoin have risen to approximately 51.6 BTC. While perhaps not on the scale of tech giants like MicroStrategy, this move by a fashion company highlights the diversifying profile of corporations looking to integrate digital assets into their financial strategies. Understanding Corporate Bitcoin Adoption Why are companies like ANAP, a Japanese fashion brand , venturing into the volatile world of cryptocurrencies? This phenomenon, often referred to as corporate Bitcoin adoption , is driven by several factors: Inflation Hedge: Many corporations view Bitcoin as a potential hedge against inflation and currency devaluation, preserving purchasing power over the long term. Store of Value: Bitcoin’s decentralized nature and finite supply (capped at 21 million coins) position it as a digital store of value, analogous to digital gold. Diversification: Adding Bitcoin to a corporate treasury can provide diversification away from traditional assets like cash and bonds. Innovation & Signaling: Holding crypto can signal a company’s forward-thinking approach and appeal to a younger, tech-savvy customer base interested in Web3 and digital assets. The trend of corporate Bitcoin adoption gained significant momentum in recent years, spurred by pioneering companies openly adding BTC to their balance sheets. ANAP’s decision reinforces that this isn’t a fleeting trend but a strategic consideration for a growing number of businesses across various sectors. Building a Bitcoin Corporate Treasury For companies considering holding Bitcoin, the process of establishing a Bitcoin corporate treasury involves several key steps and considerations: Strategy Definition: Clearly define the purpose of holding Bitcoin (e.g., long-term investment, hedge). Risk Assessment: Understand and mitigate risks associated with price volatility, regulatory changes, and security. Custody Solutions: Choose secure and reliable methods for storing the Bitcoin, such as cold storage or trusted institutional custodians. Accounting & Reporting: Navigate the accounting treatment for digital assets, which can vary by jurisdiction. Regulatory Compliance: Ensure compliance with relevant financial regulations in the company’s operating regions. ANAP’s move suggests they have navigated these considerations to build their Bitcoin corporate treasury . Their decision to increase their ANAP holdings indicates confidence in their strategy and the asset itself, despite market fluctuations. What Does This Mean for ANAP and the Market? For ANAP, increasing its ANAP Bitcoin holdings could potentially offer upside if Bitcoin’s value appreciates. It also positions the Japanese fashion brand as an innovative player in a competitive market, potentially resonating with customers who are also involved in the crypto space. For the broader market, this news serves as another data point illustrating the continued, albeit sometimes gradual, integration of Bitcoin into mainstream corporate finance. While 51.6 BTC might seem small compared to the treasuries of tech giants, every company, regardless of size or industry, that adds Bitcoin contributes to its legitimacy and adoption curve. Challenges remain, primarily the inherent volatility of Bitcoin. However, companies engaging in corporate Bitcoin adoption typically view it as a long-term strategic asset rather than a short-term trade. In Conclusion: ANAP’s Step Forward The decision by the Japanese fashion brand ANAP to significantly increase its ANAP Bitcoin holdings is a clear indicator of the broadening appeal of digital assets beyond the tech sector. By adding 35 BTC and bringing their total to over 51 BTC, ANAP is actively participating in the growing trend of companies building a Bitcoin corporate treasury . This strategic move highlights Bitcoin’s increasing role as a perceived store of value and a valid asset class for corporate balance sheets, reinforcing the narrative of increasing corporate Bitcoin adoption worldwide. To learn more about the latest corporate adoption trends and Bitcoin’s role in company treasuries, explore our article on key developments shaping Bitcoin’s institutional adoption.
Binance Wallet has recently reported impressive interest in its latest token generation event (TGE) for the B² Network, which has seen an extraordinary oversubscription rate of 174 times. Initially aiming
Analysts remain highly optimistic about the long-term stock trajectory of Riot Platforms ($RIOT). Riot Platforms is scheduled to release its first-...
On-chain data shows that more than 85% of holders are now sitting on profits, raising speculations of short-term profit-taking. In an analysis published on Apr. 29 by CryptoQuant contributor Darkfost, the “supply in profit” metric, which tracks the percentage of Bitcoin ( BTC ) holders currently above their cost basis, has climbed back above 85%. This marks a strong recovery from a recent dip to 75%, a level often seen as a key support zone in past market cycles. “Having a large portion of supply in profit is not a bad thing,” Darkfost wrote. “It tends to support bullish trends — until it reaches euphoric levels.” According to past data, when this metric crosses the 90% mark, markets often enter a euphoric phase followed by short- to mid-term corrections. Bitcoin Supply in Profit Approaching a Historic Euphoria Threshold “Historically, when the supply in profit surpassed the 90% threshold, it consistently triggered euphoric phases, and we are now approaching that level” – By @Darkfost_Coc pic.twitter.com/FpbvsOxXsY — CryptoQuant.com (@cryptoquant_com) April 29, 2025 You might also like: El Salvador keeps buying Bitcoin despite $1.4b IMF deal Bitcoin is consolidating between $94,000 and $95,000 as of the time of writing. Technical indicators provide mixed signals. At 66, the relative strength index is approaching overbought. Though indicators like the Stochastic RSI point to potential trend fatigue, momentum, and moving average convergence/divergence readings are still bullish. Bitcoin price analysis. Credit: crypto. news If buyers regain their strength, a breakout above $98,000 might lead to Bitcoin retesting the $100,000 level. On the downside, a decline toward the $85,000–$87,000 range could be triggered by a break below $89,000. Beyond the charts, institutional interest appears to be a major driver of the recent rally. According to data from SoSoValue, U.S. spot Bitcoin exchange-traded funds recorded $764 in net inflows over the past week. Corporate buyers are also stepping up. MicroStrategy recently purchased 15,355 BTC for $1.4 billion, increasing its total holdings to over 553,000 BTC. More institutional demand is expected in the near future. Cantor Fitzgerald, SoftBank, Bitfinex, and Tether have announced plans to launch 21 Capital, a $3.6 billion Bitcoin investment venture. Bitcoin’s next move may depend on whether this wave of institutional demand can carry it through resistance amid fears of profit taking among retail holders. Read more: South Korea to allow trading for spot Bitcoin ETF this year
BlackRock Inc. has filed with the U.S. Securities and Exchange Commission to introduce a new digital share class, termed DLT Shares, for its $150 billion Treasury Trust money market fund. The shares will utilize blockchain technology to mirror ownership records, a move that could be preparatory for future digital currency integration. The DLT Shares will be exclusively sold via BNY Mellon, which will support the blockchain integration for share recordkeeping. This initiative, involving tokenization on the Ethereum blockchain, represents a significant step in merging traditional finance with blockchain technology. To continue reading this as well as other DeFi and Web3 news, visit us at thedefiant.io
COINOTAG reports on April 30 that a significant movement in the Ethereum market is drawing attention. A notable whale, previously associated with the 2015 ICO, has offloaded 3,000 ETH for
Bitcoin’s failure to produce a big move toward $100,000 continued in the past 24 hours as the asset seems stuck at around $95,000 without any indication of where the next fluctuation wave will take it. The altcoins have also been quite sluggish lately, with minor losses dominating the chart on a daily scale. BTC Stalls at $95K The primary cryptocurrency managed to break through its previous consolidation phase at the beginning of last week, when it pumped above $86,000, which served as the upper boundary of that channel. In the following days, the asset flew past $90,000 for the first time in over six weeks and skyrocketed to just shy of $96,000 last Friday. This became its highest price tag in two months. Although it failed to breach that level and retraced slightly during the weekend, it remained high above the $90,000 support. The only brief slip came on Monday when BTC dropped to $93,000 but quickly recovered the losses. The bulls went on the offensive but were stopped on a couple of occasions ahead of $96,000 despite the substantial inflows into the BTC ETFs. As such, bitcoin continues to trade sideways at around $95,000, currently sitting just inches below it. Its market capitalization has stalled at $1.880 trillion on CG, while its dominance over the alts is well above 61%. BTCUSD. Source: TradingView Alts Slightly in the Red Most altcoins have lost some traction over the past 24 hours. LINK, AVAX, and XRP lead the adverse trend from the larger caps, with losses of up to 3.5% in the case of Chainlink. ETH, DOGE, ADA, SUI, SHIB, HBAR, and BCH are also in the red, albeit in a slightly less painful manner. The biggest losers from the top 100 alts include yesterday’s top performer, VIRTUAL , as well as TAO and TRUMP. The meme coin related to the US president has faced a lot of controversy as of late, including reports that the team behind it had started disposing of its holdings amid the price rally. The total crypto market cap has declined slightly by around $15 billion since yesterday to $3.065 trillion on CG. Cryptocurrency Market Overview. Source: QuantifyCrypto The post Crypto Market Consolidation Continues as Bitcoin (BTC) Fails to Break Above $95K (Market Watch) appeared first on CryptoPotato .