war – Earlybirds Invest https://earlybirdsinvest.com Latest Crypto News Mon, 25 Aug 2025 02:29:35 +0000 en-US hourly 1 https://wordpress.org/?v=6.9.7 https://i0.wp.com/earlybirdsinvest.com/wp-content/uploads/2024/12/cropped-New-Project-2024-12-17T235703.455.png?fit=32%2C32&ssl=1 war – Earlybirds Invest https://earlybirdsinvest.com 32 32 240146708 LayerZero wins Stargate acquisition in 4-way bidding war https://earlybirdsinvest.com/layerzero-wins-stargate-acquisition-in-4-way-bidding-war/ https://earlybirdsinvest.com/layerzero-wins-stargate-acquisition-in-4-way-bidding-war/#respond Mon, 25 Aug 2025 02:29:35 +0000 https://earlybirdsinvest.com/layerzero-wins-stargate-acquisition-in-4-way-bidding-war/

Blockchain messaging protocol LayerZero has won the bid to acquire crypto protocol Stargate after a shaky first offer and a late four-way bidding war.

Stargate’s community voted on Sunday with a 95% majority to greenlight the LayerZero Foundation’s $110 million acquisition proposal, which it amended after holders of the Stargate (STG) token said the original deal was unfair.

Three of LayerZero’s rivals also put in last-minute bids or intent-to-bids to acquire Stargate, with one bidder, Wormhole, unsuccessfully asking for the vote on LayerZero’s acquisition to be paused.

LayerZero developed and launched Stargate in 2022, and the deal now sees the platform come back under its control. Stargate facilitates transfers across blockchains using liquidity pools that it says allow assets to be transferred natively instead of relying on blockchain bridges, which have a history of being hacked.

LayerZero claims record participation 

LayerZero co-founder and CEO Bryan Pellegrino wrote on X on Sunday that the Stargate community vote had “the highest participation of any vote” in the platform’s history.

The voting website shows over 15,000 addresses took part, with 94.76% representing 7.2 million STG tokens voting in favor, while 5.24%, or 399,400 tokens, voted against. 

“Not only did ~95% of the stake weight vote in the affirmative, but ~95% of addresses voted in the affirmative,” Pellegrino added.

Source: Bryan Pellegrino

Wormhole made offer for Stargate

Wormhole made an offer on Saturday after saying on Wednesday that it would “submit a meaningfully higher bid,” and that LayerZero “doesn’t create a compelling offer, which values Stargate’s ongoing business at an unreasonably low number.”

Wormhole pitched a $120 million all-cash purchase that would see stakers of Stargate’s token “receive 3x the projected revenue for the next 6 months, accelerated and paid immediately, as part of our successful acquisition.”

Axelar, Across also considered a bid for Stargate

The cross-blockchain platforms Axelar Network and Across Protocol also signalled their interest in bidding for Stargate on Sunday, with both noting that the vote on LayerZero’s bid would need to be paused.

Across co-founder Hart Lambur posted to Stargate’s forum that it’d been suggested to him that his platform submit an offer for Stargate, but he had “no interest in rushing an 11th-hour proposal, however if this process is slowed down and other bids are properly considered, Across will participate.

The Axelar Foundation posted to the forum a few hours later that it had a “strong interest” in bidding if a “competitive process” was created for the acquisition, it would pitch “a comprehensive proposal and encourage Stargate to collect all options before making a decision.”

However, Stargate Foundation lead Angus Lamps said in response to the bids that the vote on LayerZero’s bid can’t be paused, and Stargate “has been engaging with any parties” that sign a non-disclosure agreement and want to conduct due diligence.

Related: Aave drops over 8% on rumors of World Liberty Financial token deal 

LayerZero’s initial proposal pitched using Stargate’s excess revenue for a ZRO buyback program, which some Stargate community members called “not attractive at all” as it didn’t offer advantages to STG holders.

It revised the offer on Sunday to give Stargate stakers half of all top-line revenue for six months, with the remaining half used to buy back its LayerZero (ZRO) token.

Under the approved deal, all circulating STG will be swapped for ZRO at a ratio of 1 STG to 0.08634 ZRO.

Magazine: Solana Seeker review: Is the $500 crypto phone worth it?

]]> https://earlybirdsinvest.com/layerzero-wins-stargate-acquisition-in-4-way-bidding-war/feed/ 0 54978 The GOP is ready for a new redistricting war. Democrats are recalculating. https://earlybirdsinvest.com/the-gop-is-ready-for-a-new-redistricting-war-democrats-are-recalculating/ https://earlybirdsinvest.com/the-gop-is-ready-for-a-new-redistricting-war-democrats-are-recalculating/#respond Thu, 31 Jul 2025 18:49:30 +0000 https://earlybirdsinvest.com/the-gop-is-ready-for-a-new-redistricting-war-democrats-are-recalculating/

A new kind of political battle is emerging between America’s parties — one centered on the composition of Congress and congressional redistricting. This process usually occurs every decade, after the US Census finishes its work and releases new demographic information that states use to reconfigure how the 435 seats in the House of Representatives are divided among the 50 states.

But this summer, Texas Republicans are scrambling those norms.

Republican lawmakers are now considering a new proposal for the GOP-controlled legislature to redraw their congressional maps in the middle of the decade to give the national party an advantage in the 2026 midterm elections.

It’s a blatant power play — jump-started by President Donald Trump’s desire to offset potential losses next year and win a bigger Republican majority in the House for the second half of his term. At the moment, it looks likely that Republicans might lose some ground in Congress, as has been the trend for presidents’ parties for the last 70 years.

This mid-decade redistricting effort is not the first time Texas Republicans have aggressively gerrymandered seats to boost their party’s representation in Congress, but it is abnormal for redistricting to happen this early, or as a direct response to a president’s wishes to gain an electoral advantage. And it doesn’t seem like Texas will be the only Republican-controlled state to try this.

This sudden gamesmanship is forcing national and state-level Democrats to consider their own tit-for-tat, mid-decade redistricting efforts — and to confront a harsh reality. Many Democrats lack the political will to bend norms in response to these Republican efforts. And those who do will face steep legal and political obstacles, including from their own party.

Still, that isn’t stopping some Democratic leaders from responding. Their leading voice is California Gov. Gavin Newsom, who has declared that he will redraw his state’s maps to boost Democrats if Texas Republicans move forward with their plan. Govs. Kathy Hochul of New York, Phil Murphy of New Jersey, and JB Pritzker of Illinois have also said they are considering their own responses.

How Republicans are pressing their advantage

Republicans have the upper hand on redistricting. In the majority of states across the country, state legislatures have the primary control and power to draw district lines. That includes the three states where Republicans have signaled they will try to redraw maps before the 2026 midterms — Texas, Ohio, and Missouri — all in which the GOP has unified control of the legislature and the governor’s office.

Through redistricting these states alone, Republicans would be able to gain enough seats to secure a majority after midterm elections. The current plan in Texas would gain them five seats, anywhere from one to three seats in Ohio, and one seat in Missouri. Republicans currently have a three-seat majority in the House, as a result of resignations and deaths, which shrinks to a two-seat majority if all those vacancies are filled.

And there are still more Republican-run states that could be tapped. As Punchbowl News reported this week, five Democratic-held seats could be threatened in Florida if Gov. Ron DeSantis agrees to a mid-decade redraw. And New Hampshire’s governor, Kelly Ayotte, could still be convinced by the White House to consider state Republicans’ past plans to create another Republican-friendly seat in the state.

Other Republican-leaning states — like Indiana, Kansas, Kentucky, and Nebraska — are limited from redrawing maps before 2026 by Democratic governors, more moderate Republican legislators and state courts, or the fact that their legislatures aren’t in session.

Democrats in the three states that will likely create new GOP seats have few options to resist or block redraws. In Texas, Democrats have considered boycotting or preventing the legislature from voting by leaving the state — though Republicans are trying to force them to participate by delaying a vote on flood disaster relief and recovery funding until after their redistricting effort passes. Democrats in Ohio and Missouri have no similar leverage.

That leaves out-of-state Democrats as the next line of defense. But they face obstacles there.

Democrats are limited by their own advocacy

Democrats hoping to strike back have many fewer options. They’re limited by the number of states they control, the way those states handle redistricting, and the political will of legislators who view this kind of redistricting as beyond the pale.

Democrats have unified control in 15 states, out of which they could probably only gain seats in about nine states: California, Colorado, Illinois, Maryland, Minnesota, New Jersey, New York, Oregon, and Washington. But politicians trying to redraw districts in any of these states will face steep hurdles.

In California, Colorado, New York, New Jersey, and Washington, independent or bipartisan commissions have the power to draw congressional maps, not state legislatures. Those commissions were set up after years of bipartisan advocacy for fair representation and liberal activism for better government accountability and transparency. They are enshrined by state law or were set up by state ballot measures, and would require constitutional amendments, a statewide referendum, or court challenges to return redistricting power to the state legislature.

That includes California — the state with the largest population — where the Texas Tribune is reporting that Newsom plans to present the state legislature a new congressional map that flips five Republican-held seats to cancel out Texas’s boost. After the Democratic-dominated legislature approves that plan, it would theoretically be put up as a statewide referendum for voter approval, though Newsom has said that he believes the legislature can pass these changes by itself. Still, Newsom hasn’t publicly confirmed these plans, and he faces bipartisan opposition to his idea.

Other states essentially have prohibitions on mid-decade or early redistricting efforts, Dan Vicuña, a redistricting expert at the government accountability organization Common Cause, told me. The state constitutions of Washington and New Jersey, Vicuña said, contain provisions that limit redistricting to the year immediately following the census, and limit intervention before that time.

That leaves Illinois, Maryland, Minnesota, and Oregon as the Democratic states where early redistricting could likely be accomplished with fewer obstacles. Already, some Maryland Democrats are signaling they would try to squeeze one more Democratic seat by redrawing their district lines. National Democrats have said they’ll try to gain a seat in Minnesota, though they’ll have to wait until state Democrats regain their majority in the senate, where a Democratic lawmaker resigned this week, tying the chamber.

Democrats may have no choice but to try redistricting

For as much bluster as Democrats are making about trying to retaliate, Republicans are actually taking the steps to do early redistricting. Congressional Democrats, for now, are trying to build support among governors and state lawmakers to engage in this political back-and-forth.

According to CNN, House Minority Leader Hakeem Jeffries and his advisers are exploring legal ways to redraw maps in California, New Jersey, New York, Minnesota, and Washington, but those details have yet to be made public. Some Texas state Democrats, meanwhile, traveled to California and Illinois last week to discuss GOP redistricting with the Democratic governors there.

But to stay in the game, Democrats may have to abandon their own rules.

The Trump-era GOP has shown their willingness to push the bounds of political norms and bend institutions. There are valid, long-term concerns about what this kind of ad-hoc redistricting will mean for elections and trust in government in the future — what Vicuña described as a “race to the bottom” — but Democrats, at least in Congress, are accepting that playing fair, or by old norms, isn’t enough.

Update, July 31, 11 am ET: This article was originally published on July 23 and has been updated multiple times with news about California’s potential plans to redraw its congressional maps.

]]> https://earlybirdsinvest.com/the-gop-is-ready-for-a-new-redistricting-war-democrats-are-recalculating/feed/ 0 50731 Winklevoss accuses JPMorgan of retaliation over criticizing ‘bankster’ war on open banking https://earlybirdsinvest.com/winklevoss-accuses-jpmorgan-of-retaliation-over-criticizing-bankster-war-on-open-banking/ https://earlybirdsinvest.com/winklevoss-accuses-jpmorgan-of-retaliation-over-criticizing-bankster-war-on-open-banking/#respond Sat, 26 Jul 2025 14:07:34 +0000 https://earlybirdsinvest.com/winklevoss-accuses-jpmorgan-of-retaliation-over-criticizing-bankster-war-on-open-banking/

Gemini co‑founder Tyler Winklevoss said JPMorgan froze the crypto exchange’s effort to regain banking services after he accused “banksters” of trying to strangle fintech and crypto firms.

In a thread on July 25, Winklevoss claimed the bank told Gemini that his earlier tweet had prompted a pause in re‑onboarding, an effort underway since JPMorgan off‑boarded the company during what he calls “Operation Choke Point 2.0.” 

He added:

“They want us to stay silent while they quietly try to take away your right to access your banking data for free […] We will continue to call out this anti‑competitive, rent‑seeking behavior.”

The cause

The July 19 post that he said “struck a nerve” accused large banks of fighting the US Consumer Financial Protection Bureau’s (CFPB) open‑banking rule under Section 1033 of the Consumer Financial Protection Act. 

That rule, still being implemented, would guarantee consumers free third-party access to their account data through aggregators such as Plaid.

Plaid is a conduit many Americans use to connect their checking accounts with crypto platforms, including Gemini, Coinbase, and Kraken.

Winklevoss alleged that JPMorgan and other institutions want to replace free data feeds with “exorbitant fees,” a shift he warned would “bankrupt fintechs” and stifle the on‑ramp that lets retail customers fund crypto purchases with dollars.

Strangling the crypto industry

He framed the banks’ lawsuit against the CFPB as an example of “egregious regulatory capture” and cast the fight as a direct challenge to President Donald Trump’s stated goal of making the US “the crypto capital of the world.”

JPMorgan has not publicly addressed Winklevoss’s allegations.

Several exchanges lost long-standing accounts in 2023 and early 2024 amid heightened regulatory scrutiny, forcing them to seek new partners or international workarounds.

Gemini, which previously used JPMorgan for corporate banking, has been courting new and former providers as it expands its international derivatives venue and bids for broader US offerings.

Some crypto voices, such as CoinMetrics co-founder Nic Carter, link these actions to a series of enforcement actions by banking authorities under the former President Joe Biden administration, known as Operation Chokepoint 2.0.

Federal Deposit Insurance Corporation (FDIC) Acting Chairman Travis Hill acknowledged a targeted effort from the agency towards “debanking” crypto firms. 

During a speech in January, he deemed such actions “unacceptable.”

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]]> https://earlybirdsinvest.com/winklevoss-accuses-jpmorgan-of-retaliation-over-criticizing-bankster-war-on-open-banking/feed/ 0 49780 Ukraine Freezes Crypto Assets Tied to Russian War Funds https://earlybirdsinvest.com/ukraine-freezes-crypto-assets-tied-to-russian-war-funds/ https://earlybirdsinvest.com/ukraine-freezes-crypto-assets-tied-to-russian-war-funds/#respond Tue, 08 Jul 2025 15:05:54 +0000 https://earlybirdsinvest.com/ukraine-freezes-crypto-assets-tied-to-russian-war-funds/

Ukraine has launched a new round of penalties against individuals and companies that facilitate the transfer of money to Russia through cryptocurrency.

On July 6, President Volodymyr Zelenskyy signed an order that freezes the assets of 60 firms and 73 individuals believed to be part of financial schemes supporting Russia’s war.

The decision blocks not only those directly handling digital currencies but also companies involved in payments and cross-border transactions.

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Zelenskyy referred to it as a “special sanctions package” that targets a wider group tied to Russia’s financial system. It follows a proposal from the National Bank of Ukraine.

Zelenskyy stated that just one company on the sanctions list moved billions of dollars in January. He explained that much of this money was likely used by Russia’s military supply chain.

Nineteen mining firms, seventeen platform operators, and five exchanges are currently restricted from doing business. The Ukrainian government noted that these groups helped Russia continue funding its war even after being cut off from the global banking system.

Additionally, several foreign firms were added to the list, including TokenTrust Holdings in Cyprus and EXMO RBC LTD, which runs the EXMO.me exchange and operates in Kazakhstan, Russia, and Belarus. Three companies based in the United Arab Emirates, such as AWX Solutions, Crypto Explorer, and Bitpapa, were also sanctioned.

Recently, local officials in Shenzhen warned about fake investment schemes involving stablecoins and other cryptocurrencies. What did it say? Read the full story.

Aaron S. Editor-In-Chief

Having completed a Master’s degree in Economics, Politics, and Cultures of the East Asia region, Aaron has written scientific papers analyzing the differences between Western and Collective forms of capitalism in the post-World War II era.
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Aaron has been quoted by multiple established outlets, and is a published author himself. Even during his free time, he enjoys researching the market trends, and looking for the next supernova.

]]> https://earlybirdsinvest.com/ukraine-freezes-crypto-assets-tied-to-russian-war-funds/feed/ 0 46470 War Wallets Exposed: 60 Crypto Operators Under Ukraine’s Gun https://earlybirdsinvest.com/war-wallets-exposed-60-crypto-operators-under-ukraines-gun/ https://earlybirdsinvest.com/war-wallets-exposed-60-crypto-operators-under-ukraines-gun/#respond Tue, 08 Jul 2025 06:30:22 +0000 https://earlybirdsinvest.com/war-wallets-exposed-60-crypto-operators-under-ukraines-gun/

Trusted Editorial content, reviewed by leading industry experts and seasoned editors. Ad Disclosure

In a defiant move, Ukraine strikes at crypto routes fueling Russia’s war machine. The war-torn European country has unleashed a dramatic wave of sanctions designed to choke off the digital pipelines that have been fueling Russia’s military campaign.

President Volodymyr Zelenskyy signed Decree No. 465/2025, effectively freezing the assets and banning operations of 60 crypto firms—55 based in Russia and five scattered across Cyprus, Kazakhstan and the UAE.

This sweeping action is meant to send a strong message: crypto won’t be a safe haven for money that bankrolls conflict.

Sanctions Span Exchange Miners And Issuers

According to the decree, five crypto exchanges are accused of moving funds for sanctioned Russian entities. Nineteen mining operations have been caught processing coins linked to sanctioned individuals.

Seventeen platforms that issue digital assets already under US restrictions are now blocked in Ukraine. Another 19 companies—from makers of payment terminals to brokers arranging international transfers—face asset freezes and activity bans.

Ukraine didn’t stop at companies. The sanctions list also names 73 individuals, all Russian citizens, including high‑ranking central bank officials.

Based on reports from Ukraine’s National Security and Defense Council, these measures will be shared with allies like the EU and the US. That way, they can mirror the bans and tighten the grip on every channel Russia uses.

Total crypto market cap currently at $3.3 trillion. Chart: TradingView

Coordination With Allies Aims To Close Loopholes

Vladyslav Vlasiuk, Ukraine’s commissioner for Sanctions Policy, said Kyiv will urge its partners to adopt matching rules. The goal is to close every loophole Russia uses to fund its military.

Zelenskyy revealed that one single firm moved “several billion dollars” since January to support Russia’s military‑industrial complex. That figure shows why digital channels have become critical for sanctioned players.

New Stablecoin Highlights Growing Risks

Based on reports by the Financial Times and the Centre for Information Resilience, Russia’s crypto use is on the rise. A new stablecoin called A7A5, pegged to the ruble, moved over $9 billion in just four months on the Grinex exchange.

More than 12 billion A7A5 tokens now float in circulation, backed by roughly $156 million in reserves held at the US‑sanctioned Promsvyazbank. Only a few wallets handled most of that volume, showing how a small group can steer vast sums.

Meanwhile, five non‑Russian companies also made the list: Token Trust Holdings Limited in Cyprus, EXMO RBC Limited in Kazakhstan, AWX Solutions and Crypto Explorer DMCC in the UAE, and Bitpapa IC FZC in the UAE.

All five are already under US restrictions. Their inclusion highlights how sanctions evasion often relies on a global network of service providers.

Featured image from Unsplash, chart from TradingView

Editorial Process for bitcoinist is centered on delivering thoroughly researched, accurate, and unbiased content. We uphold strict sourcing standards, and each page undergoes diligent review by our team of top technology experts and seasoned editors. This process ensures the integrity, relevance, and value of our content for our readers.

]]> https://earlybirdsinvest.com/war-wallets-exposed-60-crypto-operators-under-ukraines-gun/feed/ 0 46407 Iran and Israel spent over $25B during the ’12-day war,’ equivalent to 1% of total Bitcoin supply https://earlybirdsinvest.com/iran-and-israel-spent-over-25b-during-the-12-day-war-equivalent-to-1-of-total-bitcoin-supply/ https://earlybirdsinvest.com/iran-and-israel-spent-over-25b-during-the-12-day-war-equivalent-to-1-of-total-bitcoin-supply/#respond Thu, 26 Jun 2025 02:04:29 +0000 https://earlybirdsinvest.com/iran-and-israel-spent-over-25b-during-the-12-day-war-equivalent-to-1-of-total-bitcoin-supply/

The Iran-Israel conflict reportedly cost the two nations roughly $25.5 billion, worth over 240,837 BTC at current prices, according to a report by Opportunity Cost, a digital tool that translates global spending into Bitcoin and Satoshi equivalents.

According to the platform, Israel fired Arrow interceptor missiles, each costing around $3 million or 28.3 BTC, to counter Iranian missiles priced at about $2 million or 18.9 BTC each. This exchange repeated every night for nearly two weeks, during which time Israel launched 50 to 100 of these high-tech interceptors.

On the other hand, Iran’s approach focused on volume, deploying over 400 ballistic missiles and more than 1,000 drones. The cost of its offensive weaponry alone amounted to approximately 7,554 BTC.

Meanwhile, Israel spent at least 2,124 BTC on Arrow interceptors, which is just one component of its broader missile defense strategy.

The US also took part in the conflict through an airstrike campaign called “Midnight Hammer.” The mission involved deploying seven stealth bombers that dropped bunker-busting munitions, each strike estimated at 30.2 BTC or $3.2 million. That single night added roughly 9,400 BTC to the overall cost of the standoff.

By the end of the conflict, the three nations had spent resources equivalent in value to roughly 1% of Bitcoin’s total supply, 240,837 BTC.

]]> https://earlybirdsinvest.com/iran-and-israel-spent-over-25b-during-the-12-day-war-equivalent-to-1-of-total-bitcoin-supply/feed/ 0 44138 Asia Morning Briefing: Analysts Say BTC’s Long-Term Focus Is Easing War Jitters https://earlybirdsinvest.com/asia-morning-briefing-analysts-say-btcs-long-term-focus-is-easing-war-jitters/ https://earlybirdsinvest.com/asia-morning-briefing-analysts-say-btcs-long-term-focus-is-easing-war-jitters/#respond Wed, 25 Jun 2025 06:16:37 +0000 https://earlybirdsinvest.com/asia-morning-briefing-analysts-say-btcs-long-term-focus-is-easing-war-jitters/

Good Morning, Asia. Here’s what’s making news in the markets:

Welcome to Asia Morning Briefing, a daily summary of top stories during U.S. hours and an overview of market moves and analysis. For a detailed overview of U.S. markets, see CoinDesk’s Crypto Daybook Americas.

After a tense weekend that saw the U.S. bomb an Iranian nuclear site, bitcoin has regained its footing, hovering around $106K as Asia begins its Wednesday session and pushing past levels from earlier this month when Israel bombed Iran.

Part of the reason why crypto has recovered alongside traditional markets is just how correlated the two have become.

“Bitcoin’s sensitivity to traditional asset classes and macroeconomic indicators has evolved markedly over the past few market cycles, reflecting its growing integration into the broader macro-financial system,” a recent report from Glassnode and Avenir Group reads. “Institutional infrastructure has reshaped how capital engages with bitcoin. As a result, its market behavior is increasingly governed by structural liquidity, long-horizon positioning, and regulated access points.”

That institutional backbone was visible again this week.

Semir Gabeljic, director of capital formation and investment strategy at Pythagoras Investments, cited ETF flows as a major tailwind: “The huge recent capital inflows in Bitcoin ETFs of $1.1 billion last week and even $350 million today alone” are driving the positive trend.

Spencer Yang, Core Contributor to Fractal Bitcoin, added that one of the reasons why BTC was able to shake off war jitters so quickly is that fundamentally, nothing has changed about the asset class due to the conflict in the Middle East.

All the metrics that investors would look to for BTC are still there, and other bullish market sentiment is possibly on the way.

“We’re seeing continued interest in protocols like BRC-20, especially with the recent upgrade, as well as Runes and Alkanes, which have been getting a lot of attention,” he added. “So overall, on‑chain activity across the board is increasing thanks to these types of assets.”

The takeaway? As bitcoin becomes increasingly defined by institutional demand and macro liquidity cycles, analysts see its price action as less about reacting to headlines and more about long-term capital commitment. This structural shift is what continues to anchor BTC above $100K, despite the noise.

Tim Draper: Bitcoin Is Eating Crypto as Innovation Flocks to BTC

The Bitcoin blockchain is becoming the new home for crypto innovation, absorbing ideas once exclusive to altcoins, just as Microsoft once consolidated the software revolution under its operating system empire, Tim Draper argued in a recent post on X.

Draper pointed to BTC dominance, a metric equivalent to its “market share,” rising over 60%,up from 40% after the 2017 boom-bust cycle and 50% following the 2021 peak, as proof that Bitcoin is reasserting control over the broader crypto ecosystem.

Much like how Microsoft integrated or cloned early success stories like Lotus 1-2-3, WordPerfect, and PowerPoint to form its software suite, Draper says Bitcoin is now incorporating once-altcoin-exclusive innovations: smart contracts, DeFi, ordinals, and low-cost layer 2s.

“All the successful innovations on other platforms are now being ported to Bitcoin,” Draper wrote, calling it an “acceleration” that mirrors Big Tech consolidation. Developers, he said, are increasingly gravitating toward Bitcoin as the most secure and valuable chain.

Draper, who runs a Bitcoin-focused accelerator with Boost VC, said the next generation of entrepreneurs is building on Bitcoin not just for ideological reasons, but because the infrastructure and ecosystem are now ready.

“Smart entrepreneurs are always building on the platform with the strongest gravitational pull,” he wrote. “That platform is Bitcoin.”

WazirX Granted Extension to Present Revised Restructuring Plan

WazirX has received a court-approved extension from the Singapore High Court, allowing it to present further arguments in support of its proposed Scheme of Arrangement. The court also extended the moratorium on creditor actions, which will now remain in place until a ruling is issued on the revised plan.

In a statement released Monday, the exchange said it is awaiting further directions from the court and reiterated its commitment to resolving outstanding claims. The company’s original restructuring plan, rejected by the court last month, as CoinDesk previously reported, sought to reimburse users affected by a $234 million hack in July 2024 through the issuance of recovery tokens and a transfer of operations to a new entity, Zensui Corporation.

More than 93% of creditors had approved the initial plan, but the court cited concerns around governance and transparency.

Without an approved arrangement, WazirX faces the possibility of liquidation under Singapore’s Companies Act, which could lead to extended delays and reduced creditor recoveries. No date has been set for the next court hearing.

Market Movements

  • BTC: Bitcoin surged past $106,000 after a ceasefire between Israel and Iran eased geopolitical tensions, triggering a breakout fueled by high-conviction buyers, bullish technical signals, and strong on-chain accumulation, while the broader CD20 index also climbed nearly 1% amid renewed market strength.
  • ETH: Ethereum surged 4% to break above $2,450 as Trump’s announcement of an Israel-Iran ceasefire eased global tensions, triggering renewed institutional accumulation and strong on-chain buying momentum.
  • Gold: Gold fell as much as 2% to $3,300 after Trump’s surprise Israel-Iran ceasefire announcement eased geopolitical tensions, weakening safe-haven demand even as the metal remains up over 25% year-to-date.
  • Nikkei 225: Japan’s Nikkei 225 rose 0.12% as Asia-Pacific markets opened higher Wednesday, buoyed by the Israel-Iran ceasefire and new signals from the U.S. Federal Reserve.
  • S&P 500: U.S. stocks surged Tuesday, with the Nasdaq and S&P 500 hitting their highest levels since February as a tech-led rally gained momentum amid growing optimism over a fragile U.S.-brokered Israel-Iran ceasefire.

Elsewhere in Crypto

]]> https://earlybirdsinvest.com/asia-morning-briefing-analysts-say-btcs-long-term-focus-is-easing-war-jitters/feed/ 0 43985 Why ExxonMobil Fell Today, Even Amid War in the Middle East https://earlybirdsinvest.com/why-exxonmobil-fell-today-even-amid-war-in-the-middle-east/ https://earlybirdsinvest.com/why-exxonmobil-fell-today-even-amid-war-in-the-middle-east/#respond Mon, 23 Jun 2025 22:05:45 +0000 https://earlybirdsinvest.com/why-exxonmobil-fell-today-even-amid-war-in-the-middle-east/

Shares of ExxonMobil (XOM -2.58%) were up as much as 2% earlier on Monday, before plunging to a 3.1% decline and then recovering slightly to a 2.5% decline to end the trading day.

There wasn’t any company-specific news today. However, the roller-coaster performance from the largest U.S.-based oil and gas giant came as investors initially feared a potential severe response from Iran to last weekend’s bombing of its nuclear facilities by the U.S.

But as news came in through the day, it appears the actual response was not as severe as feared. Thus, oil prices plunged, giving back not only the gains from earlier in the day, but also a portion of last week’s run-up in prices.

Buy the fears, sell the attack?

Since Israel struck Iranian military and nuclear targets beginning on June 13, oil and gas prices have been on the rise. The week’s conflict culminated on Saturday, with the U.S. bombing Iran’s nuclear sites at Fordo, Natanz, and Isfahan.

Investors likely braced for possible worst-case scenarios coming into this week, which might include Iran blockading the Strait of Hormuz. About 21% of the world’s oil flows through that narrow waterway between Iran and Oman, so if that narrow waterway were blocked, it could lead to a fairly large oil price spike.

However, Iran wound up initially responding by sending missiles toward a U.S. base in Qatar. While that is a real military response to the U.S. strike, it appears the attack was fairly telegraphed and symbolic. The missiles were intercepted by Qatar seemingly without issue.

Investors took the sending of a few missiles as a symbolic gesture that meant Iran wasn’t going to counter the U.S. strikes in a severe way, or attempt to escalate the conflict. Thus, investors “sold the news” on the Iranian response, sending Brent Crude Oil prices down 6.8% on the day and natural gas prices down 4%.

Oil tanker on the seas.

Image source: Getty Images.

Oil and gas stocks should remain volatile

An oil and gas shock in the Middle East won’t have the same consequences that it did back in the 1970s, as the invention of hydraulic fracturing has made the U.S. a global energy superpower and net energy exporter, rather than the importer it used to be. Still, a severe shock in the Middle East could still cause a big jump in oil prices, as we saw when Russia invaded Ukraine in 2022.

However, it appears the initial response from Iran to this past weekend’s attack was rather tame, sending a sigh of relief through markets on Monday.

Still, investors shouldn’t expect a quick end to this conflict. It’s possible more geopolitical events or shocks could come through the summer. Therefore, oil and gas stocks should remain part of one’s diversified portfolio, mainly as a hedge against worst-case geopolitical scenarios.

Billy Duberstein and/or his clients have no position in any of the stocks mentioned. The Motley Fool has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy.

]]> https://earlybirdsinvest.com/why-exxonmobil-fell-today-even-amid-war-in-the-middle-east/feed/ 0 43732 Trump Media Unveils $400M Buyback While Guarding $2.3B Bitcoin War Chest https://earlybirdsinvest.com/trump-media-unveils-400m-buyback-while-guarding-2-3b-bitcoin-war-chest/ https://earlybirdsinvest.com/trump-media-unveils-400m-buyback-while-guarding-2-3b-bitcoin-war-chest/#respond Mon, 23 Jun 2025 21:55:20 +0000 https://earlybirdsinvest.com/trump-media-unveils-400m-buyback-while-guarding-2-3b-bitcoin-war-chest/

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Trump Media Unveils $400M Buyback While Guarding $2.3B Bitcoin War Chest

Trump Media & Technology Group Corp., the parent company of Truth Social, has announced plans to repurchase up to $400 million worth of its stock.

The move, confirmed in a press release on Monday, was approved by the company’s board of directors and will include the buyback of both common stock and warrants through open market transactions.

All repurchased shares will be retired, and the timing of the buyback will be left to the company’s discretion. Trump Media says the plan complies with the Securities and Exchange Commission (SEC) regulations.

With $3B War Chest, Trump Media Moves on Buybacks and Bitcoin Simultaneously

The company, trading under the ticker DJT on Nasdaq and NYSE Texas, described the buyback as part of a broader effort to return value to shareholders while maintaining flexibility for future growth.

Devin Nunes, CEO and chairman of Trump Media, said the decision reflects the board’s confidence in the company’s long-term direction.

“The Board took a vote of confidence in our company, our stock, and our strategic plans,” Nunes stated.

“Since Trump Media now has approximately $3 billion on its balance sheet, we have the flexibility to take actions like this, which support strong shareholder returns, as we continue exploring further strategic opportunities.”

While launching the buyback program, the company made clear that its previously announced Bitcoin strategy remains fully intact. In May, Trump Media revealed a $2.3 billion private placement deal designed to fund a long-term Bitcoin treasury plan.

The company confirmed Monday that the share repurchase will not interfere with its crypto strategy. Both initiatives are independently funded, according to the statement.

Trump Media has said it intends to model its Bitcoin treasury plans after MicroStrategy, a firm led by Michael Saylor that has accumulated over $14 billion in Bitcoin holdings.

The financial separation between the stock buyback and the crypto treasury gives the company room to act on both fronts. Trump Media noted that it may also consider buying back its outstanding convertible notes in the future, either through market purchases or private deals.

Trump Media has continued to expand its brand, which includes not only Truth Social but also the streaming service Truth+ and the fintech platform Truth.Fi.

The company did not disclose a specific timeline for the repurchase program but confirmed that all buybacks would be handled under standard market conditions.

With $3 billion in cash on hand, the company says it remains in a strong financial position to pursue multiple strategies simultaneously.

Trump Media Advances $2.3B Bitcoin Strategy With ETF Ambitions, SEC Filings, and New Partnerships

Following its $400 million stock buyback announcement, Trump Media & Technology Group (TMTG) is doubling down on its digital asset push, with a $2.3 billion Bitcoin treasury plan now fully in motion.

On May 30, the company confirmed it had raised $2.44 billion through a private placement involving nearly 50 institutional investors. The raise included 55.9 million shares at $25.72 and $1 billion in zero-coupon convertible notes, with proceeds earmarked for Bitcoin acquisition and general operations.

According to Trump Media, the move indicates a long-term shift toward holding Bitcoin as a core treasury asset.

Just weeks later, on June 13, the U.S. SEC approved TMTG’s S-3 registration statement, a key step in launching its large-scale Bitcoin treasury strategy. The approval adds regulatory backing to one of the most ambitious crypto plays by a U.S. public company.

Then, on June 16, TMTG filed for a Truth Social Bitcoin and Ethereum ETF, seeking to list the fund on NYSE Arca. The proposed ETF would allocate 75% to Bitcoin and 25% to Ethereum, with Crypto.com acting as custodian and execution agent.

If approved, the fund could offer direct crypto exposure to retail and institutional investors under the Truth.Fi brand.

TMTG also announced plans to expand its ETF offerings into other sectors, including energy, via a partnership with Yorkville America Digital and Crypto.com.

Together, these moves position Trump Media as a growing force in crypto finance, blending political branding with Bitcoin-backed financial products at a scale few U.S. companies have attempted.


]]> https://earlybirdsinvest.com/trump-media-unveils-400m-buyback-while-guarding-2-3b-bitcoin-war-chest/feed/ 0 43726 ADA Takes a Hard Fall as Traders Feel the Heat of War in the Middle East https://earlybirdsinvest.com/ada-takes-a-hard-fall-as-traders-feel-the-heat-of-war-in-the-middle-east/ https://earlybirdsinvest.com/ada-takes-a-hard-fall-as-traders-feel-the-heat-of-war-in-the-middle-east/#respond Sun, 22 Jun 2025 11:46:21 +0000 https://earlybirdsinvest.com/ada-takes-a-hard-fall-as-traders-feel-the-heat-of-war-in-the-middle-east/

Cardano (ADA)

is trading at $0.5478, down 6.45% over the past 24 hours, after a sharp correction fueled by market anxiety surrounding escalating geopolitical conflict in the Middle East. The token fell from a high of $0.586 to a low of $0.5464, with the steepest drop occurring during the 21:00 hour when ADA fell 3.2% on 126 million volume, according to CoinDesk Research’s technical analysis model. 24-hour trading volume climbed to 37.37% above its 30-day average.

Despite this volatility, Cardano continues to attract long-term interest. Nearly $1 billion worth of ADA has been withdrawn from centralized exchanges in 2024, and over 310 million tokens have been accumulated by large holders in June alone.

Institutional interest in the Cardano ecosystem was also underscored this week by the launch of a new proof-of-concept initiative involving decentralized storage platform Iagon, legal tech firm Cloud Court, and Ford Motor Company. The pilot project aims to test the viability of combining Cardano’s blockchain infrastructure with Iagon’s decentralized cloud storage to support secure legal data management systems.

Ford is contributing to the project in an advisory role, drawing on its internal experience managing large-scale legal data operations. The initiative is designed to explore how a hybrid architecture—where sensitive legal documents are encrypted and stored off-chain, and access logs and verification are handled on-chain—might address long-standing issues like fragmented records, inefficient collaboration, and lack of auditability. The project also reflects Cardano’s expanding presence in enterprise environments, with potential applications extending to sectors such as healthcare, finance, and public administration.

Technical Analysis Highlights

  • ADA declined 7.0% from $0.586 to $0.545 during the analysis window, forming a $0.041 range.
  • The steepest intraday move occurred during the analysis window, marked by a 3.2% hourly decline and elevated volume.
  • A high-volume resistance level formed at $0.569, while support was tested at $0.545.
  • Recovery attempts during the 23:00 and 00:00 hours failed to break resistance, despite volume exceeding 60 million ADA.
  • A descending channel with lower highs and lower lows confirmed the bearish structure.
  • Between 06:05 and 06:38, price entered a bullish channel with a sequence of higher lows and higher highs.
  • Resistance emerged at $0.558, and a support zone developed around $0.554.
  • Volume peaked at 2.3 million ADA during the 06:16 candle, supporting a temporary upward move.
  • A modest pullback from $0.558 to $0.556 followed, representing typical post-rally consolidation.
  • Volume declined during the pullback, suggesting weakening selling momentum.

Disclaimer: Parts of this article were generated with the assistance from AI tools and reviewed by our editorial team to ensure accuracy and adherence to our standards. For more information, see CoinDesk’s full AI Policy.

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