draws – Earlybirds Invest https://earlybirdsinvest.com Latest Crypto News Thu, 21 Aug 2025 10:27:11 +0000 en-US hourly 1 https://wordpress.org/?v=6.9.8 https://i0.wp.com/earlybirdsinvest.com/wp-content/uploads/2024/12/cropped-New-Project-2024-12-17T235703.455.png?fit=32%2C32&ssl=1 draws – Earlybirds Invest https://earlybirdsinvest.com 32 32 240146708 Stargate Draws Second Acquisition Bid With Wormhole Topping LayerZero's $110M Buy Offer https://earlybirdsinvest.com/stargate-draws-second-acquisition-bid-with-wormhole-topping-layerzeros-110m-buy-offer/ https://earlybirdsinvest.com/stargate-draws-second-acquisition-bid-with-wormhole-topping-layerzeros-110m-buy-offer/#respond Thu, 21 Aug 2025 10:27:11 +0000 https://earlybirdsinvest.com/stargate-draws-second-acquisition-bid-with-wormhole-topping-layerzeros-110m-buy-offer/

Wormhole has jumped into the bidding plans for bridging service Stargate, promising a bid above LayerZero’s initial $110 million token-swap proposal.

It wants the Snapshot vote delayed so the community can weigh its offer.

Stargate’s numbers explain the interest. The bridge processed $4 billion in July, holds $345 million in TVL, and sits on a treasury of $92 million in stables and ether, plus $55 million in STG and other assets. The annual revenue is approximately $2 million.

“Based on our initial review, we believe that STG holders deserve a more competitive process, and we are prepared to submit a meaningfully higher bid,” the proposal said.

LayerZero’s proposal would transfer both the treasury and future income, which critics call a discount. Wormhole says the terms shortchange tokenholders and that “STG holders deserve better.”

A Wormhole–Stargate tie-up would create one of the largest cross-chain hubs in crypto, pairing Stargate’s unified liquidity pools with Wormhole’s integrations across dozens of networks. The foundation argues this would boost volume and long-term resilience for both ecosystems.

“The Wormhole Foundation sees unrealized value in the Stargate brand, protocol, and protocol assets,” the proposal said. “The Wormhole Foundation is confident that a successful combination of Stargate and the Wormhole ecosystem will lead to the most immediate and long-term value for current holders of STG, as well as current and future holders of Wormhole (W).”

Wormhole has requested a five-day delay in the vote, seeking more time for due diligence and a fairer process.

Read more: LayerZero Proposes $110M Stargate Token Merger in Consolidation Play

]]> https://earlybirdsinvest.com/stargate-draws-second-acquisition-bid-with-wormhole-topping-layerzeros-110m-buy-offer/feed/ 0 54357 XRP price set for 48% jump as spot ETF reality draws closer https://earlybirdsinvest.com/xrp-price-set-for-48-jump-as-spot-etf-reality-draws-closer/ https://earlybirdsinvest.com/xrp-price-set-for-48-jump-as-spot-etf-reality-draws-closer/#respond Wed, 28 May 2025 12:34:32 +0000 https://earlybirdsinvest.com/xrp-price-set-for-48-jump-as-spot-etf-reality-draws-closer/

Key takeaways:

  • XRP’s falling wedge pattern signals a bullish reversal; 48% price surge potential.

  • SEC’s review of WisdomTree’s XRP ETF may spark investor interest as approval odds jump to 84% on Polymarket. 

XRP price is forming a falling wedge pattern on the daily chart, a technical chart formation associated with strong bullish momentum following an upward breakout. Could this technical setup, coupled with the SEC’s review of a spot XRP ETF application by WisdomTree, signal the start of a rally to $3.40 and higher?

XRP falling wedge pattern targets $3.40

From a technical perspective, XRP (XRP) price could gain significant momentum if it breaks out of this falling wedge pattern.

In technical analysis, a falling wedge is a bullish reversal chart pattern that comprises two converging trend lines that connect lower highs and lower lows. This convergence indicates a weakening downward momentum. 

XRP price is currently retesting the resistance provided by the upper trendline of the wedge at $2.42. A break above this level will likely trigger a quick rise in price, with the bulls seeing the technical target of the wedge at $3.40, a 48% increase from current prices.

XRP/USD daily chart. Source: Cointelegraph/TradingView

The relative strength index (RSI) has climbed to 47 from 31 on April 8, indicating that bullish momentum is building up.

However, to sustain the ongoing recovery, XRP’s price has to first hold the support at $2.20 and then overcome the resistance between $2.60 and $2.80.

Several analysts are optimistic about a rebound higher, with pseudonymous trader Cryptowzrd saying that a validation of a falling wedge could see XRP break out toward $2.90.

“$XRP closed indecisively and is still maintaining a falling wedge formation,” the trader wrote in a May 28 post on X, adding: 

“A breakout of this wedge will push markets toward the $2.80 resistance. Above that resistance, we will eventually get to a new all-time high.”

XRP/USD daily chart. Source: Cryptowzrd

As Cointelegraph reported, XRP price must first break the key $2.48 resistance level to clear the path toward higher highs.

Spot XRP ETFs coming?

The US Securities and Exchange Commission (SEC) has officially started reviewing the spot exchange-traded fund (ETF) application by the WisdomTree XRP Trust, which may provide investors with exposure to XRP. 

The notice published by the SEC on May 27 initiates a 21-day public comment period and a 240-day review timeline, reflecting a structured evaluation of investor protection and market manipulation risks. 

The product would track the price of XRP through the CME CF Ripple-Dollar Reference Rate, giving investors indirect exposure without needing to hold the asset directly.

The betting odds for an XRP ETF approval by Dec. 31 now stand at 84% on Polymarket. Over the past month, the probability of approval has swung by 21% in favor of the YES side, from around 63% on April 22.

XRP ETF approval odds on Polymarket. Source: Polymarket

Bloomberg senior ETF analysts predicted an 85% chance of spot XRP ETF approval after the change in leadership at the SEC.

Approval of these funds could unlock institutional capital, amplifying demand for XRP and potentially driving prices toward $3-$8. Some analysts predict XRP price to go as high as $50 if major players like BlackRock step in.

This article does not contain investment advice or recommendations. Every investment and trading move involves risk, and readers should conduct their own research when making a decision.

]]> https://earlybirdsinvest.com/xrp-price-set-for-48-jump-as-spot-etf-reality-draws-closer/feed/ 0 38760 Trump's Memecoin Dinner Draws Crowded Cast of Democratic Protesters from Congress https://earlybirdsinvest.com/trumps-memecoin-dinner-draws-crowded-cast-of-democratic-protesters-from-congress/ https://earlybirdsinvest.com/trumps-memecoin-dinner-draws-crowded-cast-of-democratic-protesters-from-congress/#respond Thu, 22 May 2025 05:09:30 +0000 https://earlybirdsinvest.com/trumps-memecoin-dinner-draws-crowded-cast-of-democratic-protesters-from-congress/

As President Donald Trump’s biggest memcoin buyers such as Tron founder Justin Sun bask in his attention over dinner on Thursday, Democratic lawmakers and advocacy groups have arrayed a series of protests and complaint sessions to decry the president’s crypto event as fundamentally corrupt.

Trump will host his dinner for more than 200 of his leading memecoin investors, whose money will fill the coffers of the president’s own business entities. They’ve reportedly been invited to his capital-area golf course, the Trump National Golf Club Washington, D.C., outside of which the memecoin buyers may encounter protesters.

Some of the counter-programming for his dinner will start earlier in the day in front of the Capitol Building. At 12:45 p.m., Representative Maxine Waters, the top Democrat on the House Financial Services Committee, will round up other lawmakers in front of the House steps to rail against Trump, accusing him of abusing his White House powers to “shamelessly promote and profit from a series of crypto ventures tied to himself and his family,” according to a notice about the event.

Waters will also introduce a new messaging bill “to block Trump’s memecoin and stop his crypto corruption, once and for all.” The legislation, which is unlikely to make headway in a Republican-majority Congress, would ban presidents, vice presidents, members of Congress and their families from “engaging in similar crypto crime.”

It’s the same type of ban that Democrats had been seeking to insert into crypto legislation, but Republicans have declined to let Trump-targeting language into the current digital assets bills, including the Senate stablecoin effort getting close to the finish line.

Later on Wednesday at 2:30 p.m., another press conference of Democratic lawmakers will feature Senators Chris Murphy and Elizabeth Warren, both of whom have been prominent in congressional criticism against Trump’s crypto actions. Murphy had introduced his own bill with a similar aim to Waters’, the Modern Emoluments and Malfeasance Enforcement (MEME) Act to stop federal officials from using their positions to profit from digital assets.

That event — also outside the Capitol — will additionally feature Senator Jeff Merkley, who also intends to join an evening protest right outside Trump’s golf course, hosted by progressive groups under the banner of Our Revolution. The message of the “America Is Not For Sale” rally is to push back on “a blatant example of political access being sold to the highest bidder,” according to the group.

The guest list for the memecoin dinner hasn’t been made public, but analysis of the buying of those coins suggest that the biggest spenders devoted millions for the privilege of joining the president at the event. The attendees’ anonymity is part of the problem, according to critics, who say that foreign buyers are gaining access to the president without the knowledge of the public.

Debate over the president’s crypto ties temporarily delayed progress on the U.S. stablecoin legislation meant to set up rules for domestic issuers, but the bill got back on track this week to clear an important procedural hurdle in the Senate on Monday.

Trump’s team has downplayed accusations of corruption. White House official Bo Hines said last week at CoinDesk’s Consensus 2025 conference in Toronto that the Trump family’s crypto ventures do not pose conflicts of interest, and they have “the right to engage in capital markets.”

Read More: Justin Sun Emerges as Donald Trump Memecoin’s Top Holder With $21.9M Stake

]]> https://earlybirdsinvest.com/trumps-memecoin-dinner-draws-crowded-cast-of-democratic-protesters-from-congress/feed/ 0 37607 Dogecoin holders celebrate ‘Dogeday’ 4/20 as ETF decision draws near https://earlybirdsinvest.com/dogecoin-holders-celebrate-dogeday-4-20-as-etf-decision-draws-near/ https://earlybirdsinvest.com/dogecoin-holders-celebrate-dogeday-4-20-as-etf-decision-draws-near/#respond Sun, 20 Apr 2025 11:25:47 +0000 https://earlybirdsinvest.com/dogecoin-holders-celebrate-dogeday-4-20-as-etf-decision-draws-near/

Dogecoin holders worldwide celebrate “Dogeday” on April 20, as the memecoin’s community awaits upcoming deadlines for Dogecoin-related exchange-traded fund (ETF) applications.

Dogeday marks the unofficial holiday of the Dogecoin (DOGE) community. It gained traction in the memecoin community four years ago, in 2021, during International Weed Day on April 20.

Source: Bitget

Despite its reputation as a joke token, Dogecoin remains the eighth-largest cryptocurrency by market capitalization, currently valued at $23.3 billion, according to CoinMarketCap.

Dogecoin’s tokenomics have often been criticized for issuing 14.4 million worth of new DOGE into circulation per day, giving it a daily inflation rate of over $2.16 million.

Related: Altseason 2025: ‘Most altcoins won’t make it,’ CryptoQuant CEO says

Top 10 cryptocurrencies by market capitalization. Source: CoinMarketCap

Dogecoin’s staying power “stems from a blend of community-driven enthusiasm, low entry barriers, and speculative appeal,” according to Anndy Lian, author and intergovernmental blockchain expert.

Dogecoin’s inflationary tokenomics may also contribute to its retail appeal, Lian told Cointelegraph, adding:

“Unlike Bitcoin or Ethereum, Dogecoin’s inflationary supply — adding roughly 5 billion coins annually — keeps prices accessible, typically under $1, making it psychologically appealing for retail investors.”

“The retail appeal is amplified by Dogecoin’s meme-driven branding, which resonates with younger, internet-savvy investors,” explained Lian.

Related: Solana, XRP ETFs may attract billions in new investment — JPMorgan

Memecoins like Dogecoin lack underlying blockchain use cases and typically rally based on social media traction and retail hype alone.

In November 2024, Dogecoin surpassed Porsche’s market capitalization, driven by continued social media endorsements by billionaire Elon Musk.

Dogecoin community awaits DOGE ETFs deadline in May

The Dogecoin community is closely watching the US Securities and Exchange Commission as it weighs several DOGE-related ETF applications.

There are four Dogecoin ETF filings awaiting approval: the Bitwise Dogecoin ETF, the Grayscale Dogecoin ETF, the 21Shares Dogecoin ETF and the Osprey Fund Dogecoin ETF.

Grayscale’s ETF application is due for a response on May 21 after the SEC delayed its decision on multiple crypto ETF filings.

The SEC has delayed deciding to approve several altcoin ETFs. Source: SEC

Bitwise’s filing could receive a response on May 18, which marks the end of the SEC’s 75-day initial review period after the 19b-4 filing. However, the 240-day review period could enable the regulator to delay the decision until October 2024 for both filings.

The ETF applications from 21Shares and Osprey are still pending review for their initial 19b-4 filings, with no set deadline from the securities regulator.

Magazine: Crypto ‘more taboo than OnlyFans,’ says Violetta Zironi, who sold song for 1 BTC

]]> https://earlybirdsinvest.com/dogecoin-holders-celebrate-dogeday-4-20-as-etf-decision-draws-near/feed/ 0 31855 Coinbase-backed Base draws fire for role in ‘pump-and-dump’ style ‘Content Coin’ token launch https://earlybirdsinvest.com/coinbase-backed-base-draws-fire-for-role-in-pump-and-dump-style-content-coin-token-launch/ https://earlybirdsinvest.com/coinbase-backed-base-draws-fire-for-role-in-pump-and-dump-style-content-coin-token-launch/#respond Thu, 17 Apr 2025 11:24:22 +0000 https://earlybirdsinvest.com/coinbase-backed-base-draws-fire-for-role-in-pump-and-dump-style-content-coin-token-launch/

Coinbase-backed Layer-2 network Base is under fire from the crypto community after promoting a so-called “Content Coin” that lost nearly all its value shortly after launch.

The controversy began on April 16 when Base shared a tokenized version of its “Base is for Everyone” post on Zora, a decentralized content-sharing platform, through its official X account.

This attracted swift and widespread attention to the token despite a disclaimer on Zora clearly stating the coin wasn’t linked to Coinbase or Base and warned buyers not to expect returns.

Nevertheless, many crypto investors interpreted the promotion on X as an official endorsement.

Due to this, the token’s market cap quickly soared to around $17 million. However, the excitement was short-lived because the coin’s value plummeted roughly 95%, erasing more than $15 million of its market cap.

Blockchain analytics firm Lookonchain flagged suspicious trading behavior, revealing that three wallets bought large amounts of the token before Base’s announcement and later sold for a combined profit of around $666,000.

Adding to the controversy, Abhi, the founder of crypto marketing firm Apcollective, noted that the top three wallets controlled 47% of the supply.

He added:

“[The] chart clearly shows classic pump-and-dump, massive green candles followed by instant sell-off.”

Base defends “Contentcoin” concept

Following the backlash, Base attempted to clarify its intentions while explaining that the move was part of an experimental push to bring content on-chain.

According to the firm:

“To be clear, Base will never sell these tokens, and ​​these are not official network tokens for Base, Coinbase, or any other related product. The content we share is creative, and we’re going to keep bringing culture onchain.”

Jesse Pollak, the Ethereum layer-2 lead developer, stated that the token was never intended to function as a typical memecoin or investment vehicle.

Instead, the token was born on the idea of a “Content Coin,” which was to tokenize creative works.

According to him:

“[Content Coin] represents a single piece of content and it’s created in a context where the expectation is set that the coin is the content and the content is the coin — no more, no less.”

He emphasized that this model allows creators to monetize viral posts through trading fees and shared ownership, shifting the focus away from speculation.

Pollak added:

“If you try and apply a traditional meme or project coin valuation model to content coins, you’re going to be disappointed.”

Despite the explanation, critics across the crypto space remain unconvinced.

Alon, co-founder of Pump.fun, said that any project with influence should act responsibly. He emphasized that protocols must avoid setting unrealistic expectations, especially involving tokens.

He stated:

“I’m a huge advocate for the vision of “tokenizing everything” but you can’t change current market realities – if you launch a coin AND have social influence, that comes with responsibility.”

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]]> https://earlybirdsinvest.com/coinbase-backed-base-draws-fire-for-role-in-pump-and-dump-style-content-coin-token-launch/feed/ 0 31294 The White House draws the boundary between Bitcoin and digital assets in its first Crypto Summit at EO https://earlybirdsinvest.com/the-white-house-draws-the-boundary-between-bitcoin-and-digital-assets-in-its-first-crypto-summit-at-eo/ https://earlybirdsinvest.com/the-white-house-draws-the-boundary-between-bitcoin-and-digital-assets-in-its-first-crypto-summit-at-eo/#respond Sat, 08 Mar 2025 23:46:16 +0000 https://earlybirdsinvest.com/the-white-house-draws-the-boundary-between-bitcoin-and-digital-assets-in-its-first-crypto-summit-at-eo/

“From this day on, America will follow the rules that everyone in Bitcoin knows well. Don’t sell Bitcoin.” – President Donald Trump at first White House Script Summit 3/7/25

The US President is currently reciting the popular Bitcoin maxim related to the American Bitcoin stack.

wild.

It is clear that he received the message that Bitcoin is completely different from all other digital assets.

He has proven this not only in what he said in today’s Crypto Summit, but also in signing last night’s Executive Order (EO) to establish a Strategic Bitcoin Reserve (SBR) independent of digital assets stockpiling.

Strategic Bitcoin Reserve

Regarding SBR, the president said today that the US is planning to hold Bitcoin it owns, unlike previous administrations that sold large amounts of money.

“Unfortunately, in recent years the US government has foolishly sold tens of thousands of Bitcoin (200,000, by some estimates).

That said, the president also shared that members of his administration are pursuing a path to accumulating Bitcoin.

“The Treasury and Commerce will explore new routes to accumulate additional Bitcoin holdings in the reserve, if they are free to taxpayers,” he said.

“We don’t want to spend money on taxpayers,” he reiterated, highlighting the notion that the US government is planning to accumulate Bitcoin “to borrow language from last night’s EO).

Participants

Treasury Secretary Scott Bescent and Commerce Secretary Howard Lutnick attended the summit along with around 30 prominent members of the Bitcoin and crypto industry. These include strategy executive director Michael Saylor, Coinbase CEO Brian Armstrong, Gemini co-founders Cameron and Tyler Winklevoss, and BTC INC. CEO David Bailey.

President Trump has nearly 30 prominent members of the Bitcoin and crypto industry. Photo credit: Frank Colva

Other members of the Trump administration were also present, including Small Business Administration Director Kelly Loeffler and White House Crypto Zar David Sachs.

Both Sack and Loffler praised Trump’s pace of progress in Bitcoin and Cryptocurrency executive orders and laws.

“Your admin is running on Tech (Startup) Speed,” Sacks said.

“In fact, it’s faster than the startups I’ve been involved in,” the venture capitalist added that he is well-known for investing in many high-tech startups in his career.

Secretary Lutnick assured President Trump’s new knowledge of Bitcoin and crypto, adding that the president has truly embraced technology.

“Blockchain and Bitcoin technology are important parts of (the president’s) thinking,” says Lutnick.

“We use blockchain, we use bitcoin. We use digital assets to move forward, and Donald Trump is leading the way,” he added.

stablecoins as money, bitcoins as a valuable storage

Now, before you go and get too excited about Secretary Rutnick talking about “using” Bitcoin, know that in the bullish bitcoin story at the event, the Bitcoin words used as money are not spoken. Instead, it was simply called savings technology.

Stablecoins are solely in regards to digital assets that the administration considers as money.

Secretary Becent reinforced this message, and recently pushed both the first US press conference on digital assets and the first subcommittee on digital assets hearings at the summit.

“We’re going to put a lot of thought into the Stubcoin administration,” Secretary Bescent said. “And as President Trump has directed, we’re going to keep the world’s dominant reserve currency in the US (dollars), and we’ll use stablecoins to do that.”

(And before you go to Bescent, the secretary who holds your breath while you’re reading this, he also dropped the absolute banger of Pro Bitcoin one-liner at the event: “President Trump is creating assets for the American people, but most past presidents have created debts.”)

It was not discussed

Additionally, in a summit preview call with senior White House officials this morning, one of the officials dispelled rumors that the administration would remove capital gains tax from crypto sales (this also applies when using Bitcoin or crypto). (That wasn’t the case.)

Another thing that was not discussed at the summit was whether the US Marshall detained the Trump administration for proper audits of Bitcoin and other digital assets (last reported, but they clearly have little thought of what they have). Nor could the government plan to protect the private keys of Bitcoin held in the SBR. (I planned to ask about the latter, but the media members attending the event were not allowed to ask questions.)

But let’s not get lost in some of the current minor details here.

It was a good day

Instead, let’s queue up from Brian Armstrong and admit that today was a good day by many standards.

“It was a rather historic moment for the crypto industry,” Armstrong told Bitcoin magazine after the summit was over.

“President Trump really brought the industry to life. A few years ago, we felt like we were under attack and some people tried to kill the entire industry illegally. What a change in the ocean to be invited to the White House and welcome the most pro-cryptic president ever,” he added.

Armstrong also said he would like to see the law passed to make it concrete to make some of the specific Bitcoin and Crypto initiatives under the Trump administration.

“Congress has made great progress in this with Stablecoin and market structure legislation and hopes to codify this strategic Bitcoin reserve in the end.”

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