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Binance and CZ Face October 7 Lawsuit: ‘They Were Turned Away for Years
Binance and its co-founder, Changpeng Zhao, are attempting to emerge from the shadow of past accusations, but this time, they face a much more serious lawsuit. More than 300 people, mostly victims and their families of the October 7, 2023, attack, filed in North Dakota, accuse the world's largest crypto exchange and its executives of "knowingly supporting terrorist organizations."The lawsuit's language is extremely harsh. The documents allege that Binance and Zhao "systematically assisted organizations such as Hamas, the Iranian Revolutionary Guard Corps (IRGC), Hezbollah, and PIJ over the years." This assistance allegedly enabled the concealment and transfer of hundreds of millions of dollars in crypto assets, and these activities strengthened the groundwork for the October 7 attacks.The documents indicate that Hamas conducted long-term preparations prior to the attacks. Tunnels, weapons, communication networks… According to the file, a significant portion of the organization's crypto needs were met through Binance throughout this period. Prosecutors argue that this was not a "mistake," but the result of deliberate choices on the part of the exchange.The lawsuit alleges that Binance was deliberately positioned as an attractive platform for criminal organizations. It states that even CZ's statements years ago, "Binance's headquarters is wherever I am," served as a "message" to money launderers. The same document also highlights an internal message from former compliance manager Samuel Lin: "Our users come here for crime." A team member humorously responded, "Are you having trouble laundering drug money? Come to Binance, we're waiting for you."Hamas's 2019 "Open a Binance Account" callThe lawsuit notes that in 2019, donations to Hamas's official website were instructed to open a Binance account. Moreover, it is alleged that independent analysts reported that certain wallets were linked to Hamas, but Binance protected these accounts rather than intervening.More importantly, the petition alleges that these practices are still ongoing. It alleges that even after Binance's $4.3 billion settlement with the US Department of Justice in 2023, some related wallets continued to conduct transactions. Blockchain analysis even indicates that over $50 million in suspicious transfers occurred after this date.Changpeng Zhao is no longer CEO, but the plaintiffs claim he retains influence over the company and continues to influence critical decisions. The documents also allege that some meeting minutes were not kept and certain records were deleted at Zhao's direction.The plaintiffs are seeking both monetary damages and a trial. Binance, however, is currently silent. In similar cases, the company has previously maintained that it complies with international sanctions and that terrorist organizations do not use crypto on a large scale.
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25 Nov 2025
Trump-Musk Project DOGE Quietly Shut Down
The Department of Government Efficiency (DOGE), established with great fanfare during the second term of the Trump administration in the US and generating widespread buzz in both political and technological circles, was quietly shut down. The department, which launched in January, was supposed to operate until July 2026; however, it was confirmed that it had ceased operations entirely eight months before the planned deadline. Thus, DOGE, which had been brought to the forefront by the high-profile promotions of Trump and Elon Musk, quickly vanished into obscurity after a rapid rise.What was DOGE's purpose?DOGE, at its inception, was touted as "reducing government spending, increasing efficiency, and eliminating unnecessary regulations." A few days after winning the election, Trump declared the department a cornerstone of his administration, while Musk frequently posted in support of DOGE on social media. A Dogecoin logo even appeared on the department's website for a time, sparking a brief price surge in the crypto market. This public confusion fueled misperceptions that DOGE was linked to Dogecoin. DOGE was introduced in February 2025 However, the department's shine was short-lived. The signs began to become clear as relations between Musk and Trump deteriorated. Musk distanced himself from Washington during the first half of the year; in May, he confirmed his complete severance of ties with DOGE. His failure to make a single statement about DOGE since then was among the early signs that the process was effectively over. During this hiatus, the department's activities slowed, promised savings figures couldn't be verified, and internal accountability processes became unclear.By the fall, Office of Personnel Management Director Scott Kupor declared that DOGE "no longer exists as a centralized entity." Thus, the unit's operations were completely halted, and its authority was dispersed to other federal agencies. This effectively ensured that DOGE, while still legally defined, had practically disappeared.With DOGE's closure, a significant portion of its staff was shifted to federal agencies. Entrepreneur Joe Gebbia took over as head of the National Design Studio, which was supposed to develop the government's digital design standards. Amy Gleason was appointed as a consultant to the Department of Health and Human Services. At the same department, Zachary Terrell became technology director, while Rachel Riley moved to the Office of Naval Research. These transitions demonstrate that, despite DOGE's closure, its staff were quickly integrated into the system.The department's short lifespan also opened the door to legal disputes. A multi-state lawsuit alleged that DOGE personnel were given "excessively broad" access to federal payments systems within the Treasury. These systems handle critical funding streams such as Social Security, veterans' benefits, and Medicaid reimbursements. The allegations, coupled with Musk's public statements advocating for cuts to certain social spending, further fueled the debate.DOGE's closure also sparked mixed reactions in the markets. Some analysts noted that the potential for cuts to federal programs poses a risk to contractors. Within the crypto community, DOGE's closure has rekindled old debates about Dogecoin; the project's name, inevitably similar to a meme coin, has led to increased social media engagement.Despite this, the White House appears to have maintained its agenda of reducing regulations and bureaucratic reform. AI-powered regulatory sweeps are still ongoing, and Musk's reappearances in Washington are raising questions about these policies.
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24 Nov 2025
Fed Official's "Near-Term" Message Sparks Market: Bitcoin Below $84,000
Remarks by New York Fed President John Williams, a senior official at the US Federal Reserve, abruptly changed the market sentiment on Friday. While Williams acknowledged that inflationary progress has "temporarily stalled," he hinted that the Fed may cut interest rates in the near future. While this shift in tone has somewhat restored investors' risk appetite, the selling pressure on Bitcoin has not completely subsided.The cryptocurrency fluctuated sharply between $83,000 and $84,000 during the day, with a 24-hour decline of 8.9%. While the BTC/USD pair showed brief recoveries, the chart reveals that the overall downward trend remains evident. Williams' speech consisted of remarks prepared for an event at the Central Bank of Chile. The renowned economist stated that they estimate the current inflation rate to be approximately 2.75% and emphasized the need to return to the Fed's long-term target of 2% in a "sustainable" manner. However, his statement that the tariffs had a temporary impact on prices and were not expected to translate into permanent inflation drew attention in the market."I believe monetary policy is still relatively restrictive. Therefore, there is still room for some adjustments to the target interest rate range in the near term," Williams said, directly impacting expectations for the Fed's December meeting.Interest Rate Change Expectations for DecemberActivity in derivatives markets increased following these announcements. Traders' positions expecting a December rate cut rose rapidly, pushing the probability above 70%. However, disagreements within the Fed remain evident. According to recent statements, some policymakers are not open to a rate cut until there is clearer evidence that inflation will fall to the 2% target.Williams, however, takes a more "soft" line amid this debate. He states that the labor market is no longer as tight as it was during the pandemic, and that the rise of the unemployment rate to 4.4% is not a major alarm bell for the economy. He emphasizes the importance of achieving the Fed's primary goal of price stability while simultaneously avoiding unnecessary risks to its maximum employment target.On the cryptocurrency side, pricing is quite fragile. Volatility in the dollar index and the search for direction in US bond yields continue to put pressure on Bitcoin. The sharp sell-off seen on the chart deepened, particularly during the Asian session. The pullback to $81,000 during the day increased volumes in the spot market and triggered liquidations in leveraged positions.Nevertheless, some analysts say that the possibility of a "near-term" Fed rate cut could be supportive for Bitcoin in the medium term. However, the market is currently trading under the shadow of macro uncertainty and short-term selling pressure.Under current conditions, the $82,000-$81,000 range represents short-term support for BTC, while the $85,000-$87,000 range represents the first strong resistance zone. Volatility is expected to increase further as the Fed approaches its December meeting.
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21 Nov 2025
US Launches National Security Investigation into Bitcoin Mining Company Bitmain
A secret investigation conducted by the US Department of Homeland Security (DHS) has placed Bitmain, the world's largest Bitcoin mining maker, at the center of national security debates. Dubbed "Operation Red Sunset," the investigation was launched to investigate whether mining machines manufactured by the China-based company could be used for espionage activities or remotely manipulated to sabotage the US power grid. According to Bloomberg, the investigation was launched months ago and progressed with the coordination of various federal agencies.Bitmain is one of the most influential players in the crypto mining industry; many large-scale farms operating in the US also have the company's devices. Security concerns were sparked last year by an investigation by the New York Times. The newspaper revealed that some Bitcoin mining facilities linked to Chinese investors were operating next to a Microsoft data center supporting the Pentagon and near a nuclear missile base in Wyoming. A significant portion of these facilities were reportedly powered by Bitmain machines. China concerns are mountingA report released in July by the US Senate Intelligence Committee also alleged that Bitmain devices could be manipulated from China and contained "disturbing security vulnerabilities." These allegations further fueled a growing political debate in Washington.According to Bloomberg, teams under "Operation Red Sunset" examined the chips and firmware of Bitmain devices intercepted at US ports. The investigation also ran parallel to interim meetings of the White House National Security Council. Some of the investigations also covered violations of customs duties and import regulations. However, officials have declined to comment on the findings so far.Bitmain has vehemently denied all allegations. In a statement to Bloomberg, the company stated that it fully complies with US law and called the claim that the devices can be remotely controlled "absolutely false." The company also stated that the occasional stoppage of products at ports is a standard Federal Communications Commission inspection and that there is nothing unusual about it. Bitmain also denied allegations in the Senate report alleging ties to the Chinese government.As the investigation resurfaces in Washington, the Trump family's growing influence in the crypto mining industry has further fueled the debate. According to SEC filings, the American Bitcoin initiative, run by Donald Trump's sons in partnership with Hut 8, purchased 16,000 mining devices from Bitmain in August for $314 million. A company spokesperson stated that all devices underwent rigorous security testing and found no vulnerabilities that could allow remote access.Trump has also denied allegations that the federal investigations are politically motivated. However, there are already rumors that increased scrutiny of Chinese-based technology companies in the US will continue, further impacting the Bitcoin mining industry.Meanwhile, the future of the "Operation Red Sunset" investigation remains uncertain. The DHS maintains its policy of not commenting on open files, and Bitmain continues to maintain that the allegations are baseless.
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21 Nov 2025
US Report Surprises: How Strong Employment Impacted Cryptos
The delayed employment data released following the historically long government shutdown in the US has created a cautious price in crypto markets. The nonfarm payrolls report, normally released on the first Friday of each month, was released today due to the 43-day-plus shutdown. While the September figures reveal that the economy created jobs above expectations, the rise in the unemployment rate cast a more mixed tone on the data. This picture has reopened discussion about the possibility of a rate cut for the Fed's December meeting.119,000 new jobs announcedAccording to data released by the US Department of Labor, the economy created 119,000 new jobs in September. Market expectations were 53,000. Furthermore, the previous figure of 22,000 was revised downward, not upward, suggesting that summer employment growth was weaker than anticipated. The significant downward revisions to the July and August data suggest that employment momentum has slowed since the summer.However, the picture is not entirely positive. The unemployment rate, at 4.4%, exceeded expectations. Economists expected the data to remain at 4.3%. Despite strong employment growth, this rise in unemployment indicated a more complex labor market outlook than anticipated. Furthermore, due to the government shutdown, October employment data will not be released at all. This further narrows the data set available for investors to analyze as the Fed approaches its final meeting of the year.The market's initial pricing reflects this uncertainty. According to CME FedWatch, the probability of a December interest rate cut has fallen to 31.8% from 100% a month ago. The probability of the Fed holding interest rates steady is priced in at 68.2%. Under normal circumstances, strong employment data would have lifted the dollar index; however, the DXY only saw limited movement, settling at 100.15. This suggests that markets are hesitant to take overly aggressive positions as they attempt to understand the Fed's response.A similar cautious approach prevails in the crypto market. Immediately after the data release, Bitcoin (BTC) traded within a narrow range of around $500, trading at $92,230. Ethereum (ETH) settled around $3,034. Normally, strong employment data can trigger sharper sell-offs in risk assets; however, the limited initial response suggests that crypto investors are trying to absorb macro uncertainties. According to some analysts, the continued resilience of employment could prompt the Fed to act more cautiously at its final meeting of the year. This is a key factor in determining Bitcoin's short-term direction. Meanwhile, the price of gold rose slightly intraday to around $4,080 in the commodity market, which is the source of the data; however, the real volatility will be seen in the crypto market.Investors are now focused on next week's PMI and inflation indicators. These data will provide clues about the Fed's policy stance heading into 2025. Cautious pricing in the crypto market is expected to continue for a short time.
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20 Nov 2025
Bitcoin Under Hard Pressure: Fed Minutes Deepen Decline
Bitcoin is under sharp pressure again, and the market landscape appears more complex than in previous corrections. The price fell to $88,600 on Wednesday, a level not seen since April. Compared to the start of the year, BTC is still down approximately 5 percent. The decline coincided with the release of the Federal Reserve's October meeting minutes, the FOMC meeting, and further shaken market sentiment.The minutes reveal that the disagreements among Fed members have reached their most pronounced level this year. One group argues that the economy is softening, signs of a cooling in the labor market are becoming evident, and that more cautious policy is needed. Another, stating that inflation still hasn't sustained its 2% target, believes interest rates should remain steady. The fact that one member calls for a more aggressive 50 basis point cut, while another advocates "no cuts at all," highlights the broad division within the board.This situation was immediately reflected in the market. The probability of a 25 basis point cut on Polymarket in December was 52% before the minutes, but dropped to 30% after the announcement. The market currently assigns an approximately 70% probability to interest rates remaining stable. CME FedWatch data confirms this division.As macro uncertainty rises again, the already fragile Bitcoin structure has been further disrupted. K33 Research analyst Vetle Lunde states that a "dangerous leverage" structure has emerged in the derivatives market. The increase in open interest in futures positions, exceeding 36,000 BTC in the past week, is the largest increase since April 2023. The positive funding rate suggests that most investors are still attempting to buy reactively, in other words, the typical "catch the knife when it falls" behavior is evident in the market. Lunde notes that this structure has generally resulted in deeper declines in previous periods.According to the analyst, a strong bottom could form between $84,000 and $86,000; However, if the sell-off accelerates, a retest of the $74,500 low from April is also possible. The situation is no different for Ethereum; ETH has fallen to around $2,870, falling below $3,000 for the first time since July. XRP, on the other hand, is trading at a significant threshold, approaching $2 again after five months.QCP Capital's assessments also explain the extent of the decline. The company states that the sell-off is not due to a single reason, but rather to weakening liquidity conditions, continued ETF outflows, and a sharp reversal in macroeconomic expectations. In particular, the decline in the probability of an interest rate cut, which was considered a certainty in December, to 50% within the week quickly dampened risk appetite. The liquidation of a $559 million leveraged position in the last 24 hours also demonstrates this effect.QCP emphasizes that while stocks are supported by strong balance sheets and artificial intelligence-focused institutional investments, Bitcoin does not enjoy the same protection. Due to BTC's reliance on liquidity, the impact of ETF outflows is magnified. The institution also notes that labor force data and the LEI indicator, due this week, could inform Fed policy, and therefore volatility is expected to remain high for some time.Bitcoin Price UpdateFollowing this decline, Bitcoin price has returned above $90,000. At the time of writing, it is trading at $91,900, a 0.7 percent increase.
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20 Nov 2025
US Inflation Data Not on the Calendar: What's the Situation in the Crypto Market?
For months, leverage, funding, and liquidity appetite were largely adjusted to US inflation data. The CPI calendar, which traders use as a compass every month, remained blank this time despite the government reopening. The Bureau of Labor Statistics (BLS) announced that the report would not be released because data collection for October was completely halted during the government shutdown.What is the impact of the US CPI data on the cryptocurrency market?The October CPI, normally due on November 13th (November 14th in Turkey), was nullified because the shutdown completely interrupted the data collection process. Teams required to be out in the field throughout October were unable to collect price samples. The BLS notes that this may not be accurately reconstructed later. Therefore, the October data may have been completely "down."A White House spokesperson issued a harsh statement arguing that this gap was due to the Democrats' stance. However, beyond the controversy, the lack of data itself was critical for the markets. Because the last completed CPI report covered September and was released on October 24th, delayed by the lockdown. Headline and core inflation were at 3.0 percent year-over-year.The crypto market entered the week with this data gap. Bitcoin and Ethereum started the day without a macro catalyst, which they expected to create volatility. However, the market still saw sharp movements. Bitcoin fell nearly 6 percent during the session; a widespread sell-off occurred in altcoins. Liquidity is weak, open interest is low, and the market is essentially on the defensive against the uncertainty created by the lack of data.What is the impact of the US CPI data on the cryptocurrency market?The lack of CPI data broke the chain established for years between macro and crypto. Normally, a soft inflation data release creates expectations that the Fed will take a looser path; the dollar weakens, bond yields decline, and Bitcoin finds buyers. Conversely, hot data creates a perception of tight policy and suppresses risk appetite. This time, this cycle has been completely suspended. Markets are now set to December 10th. Trading Economics lists this date as the "next release," but the data field is left blank. This appears to be a placeholder on the calendar, not a confirmed data date.This gap raises three different possibilities. The first is that the BLS managed to compile a figure for October using partial samples or modeling. Such a figure would be a data point that the market would approach cautiously due to its low quality. However, if the monthly increase falls to 0.2 percent or less, the dollar could soften, and the cryptocurrency market might see short-term relief. Ethereum and high-beta altcoins could follow traditional behavioral patterns.In the second scenario, the data is in the "sticky" zone, meaning it's in the 0.3-0.4 percent monthly range. This scenario could create a directionless day for both the bond and crypto markets. It wouldn't be surprising if Bitcoin remains flat, altcoins outperform, and funding rates turn negative. The third path is more drastic: If the monthly increase reaches 0.5 percent or more, the Fed is priced in to maintain its tight stance for an extended period. In such a scenario, the dollar strengthens, bond yields rise, and the cryptocurrency side typically experiences daily declines of 3-6 points, high liquidation volumes, and rapid deleveraging cycles.The most unusual possibility is that the October data is completely ignored. If the BLS confirms it cannot fill this gap, markets will be forced to proceed without a true inflation measurement for nearly two months directly until the November data. In this case, crypto becomes a more "macro-filtered" asset class. Instead of sharp movements driven by short-term data, slower liquidity flows, ETF inflows and outflows, and institutional behavioral patterns become prominent.During such periods, the capital risk curve is rarely moved down. Bitcoin remains at the center due to its liquidity depth and the strength of its narrative. Meanwhile, the altcoins, which require speculative momentum, remain under pressure.
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14 Nov 2025
43-Day US Government Shutdown Ends: How Crypto Markets Affected
US President Donald Trump officially ended the longest government shutdown in the country's history by signing the funding bill passed by the House of Representatives on Wednesday. This 43-day process forced federal agencies to operate at nearly half capacity, directly impacting the crypto ecosystem as well as financial markets.The bill, approved by the Senate earlier this week, took effect with Trump's signature after quickly passing the House. The new funding grants the federal government authority to operate until January 30, 2026, meaning both Democrats and Republicans have a window of several months for more comprehensive budget negotiations.One of the key points of the shutdown was healthcare spending. Democrats wanted more funding for this area, while Republicans argued that regulations should be addressed after the bill was signed. Trump stated his openness to compromise on this issue after the signing, saying, "I'm willing to work with both parties. We can do better on healthcare."What's changing on the crypto side?The government reopening means that crucial institutions, especially in the crypto ecosystem, will return to full capacity. The SEC (Securities and Exchange Commission) and the CFTC (Commodity Futures Trading Commission) were operating with limited staff throughout the shutdown. This had caused critical crypto applications to remain on hold. Here's what's expected now:Decision-making processes for spot crypto ETF applications will accelerate again.The CFTC will proceed with the November 19th confirmation hearing of Mike Selig, Trump's favorite for the agency, as planned.The Treasury Department will continue to review the stablecoin-focused GENIUS Act feedback, which includes feedback collected between early October and early November.All of these developments are clearly critical for the crypto markets in the medium term. Both the progress of the ETF filings and the clarification of the stablecoin regulatory framework will determine the overall direction of the sector heading into 2026.Initial market reaction is subduedThe end of previous government shutdowns throughout history has generated strong gains in crypto assets, particularly Bitcoin. However, this time the picture looks different. The Bitcoin price showed minimal movement following the news, while the broader market remained flat. According to analysts, there are two reasons for this:While the impact of this shutdown on crypto-related institutions was well-known, markets had largely priced it in.Global macro uncertainty remains high, and investor risk appetite remains weak.Nevertheless, the government's reopening represents a significant "unblocking" for the crypto market. Markets may see clearer movement in the coming weeks, particularly as the ETF application update process becomes active again.
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13 Nov 2025
Is the US Government Opening? Bitcoin Surpasses $106,000
Positive developments regarding the budget package passed by the US Senate have sparked a notable rally in cryptocurrency markets. The uncertainty that had increased in the markets following the 40-day federal government shutdown has eased somewhat as the package progresses toward approval.First and foremost is data. Bitcoin rose approximately 2% in 24 hours, trading near $106,000. Ethereum rose approximately 7.8% to $3,632. XRP gained 8.4%, Binance Coin 3.7%, and Solana 7.8%. The Senate made progress on the disagreements that led to the government shutdownThe primary reason behind this rise is that the budget package, which passed the Senate with a 60-40 vote, is perceived by markets as a signal that the threat is disappearing. If enacted, it will allow for the reopening of closed institutions, the payment of government salaries, and the economy to operate at full capacity again. It's not surprising that the markets reacted in this direction. Some prominent comments in market analyses include: Peter Chung, research director at Presto Research, stated, “The prolonged lockdown has drained liquidity from overnight loans and increased anxiety in the markets. Once this burden is lifted, risk assets can be directed.” Similarly, Vincent Liu, chief investment officer at Kronos Research, said, “The decline in macro uncertainty and policy optimism have increased buying appetite in the crypto market.”Furthermore, the government reopening not only boosts market morale for the day but also normalizes economic data flow, supporting the policy decision-making process of institutions like the Federal Reserve. For example, BTSE COO Jeff Mei summarized this situation by saying, “Economic indicators will return to normal, and stimulus measures may become more visible from now on.” Furthermore, Nick Ruck, director of LVRG Research, emphasized that risk assets, including crypto, have gained momentum as the dollar index's momentum stalled and liquidity increased. Considering the crypto market movement in a broader context: As Asian markets opened, US stock futures rose, and the previous pressure on the dollar/currency front partially eased. Under these circumstances, Bitcoin and other leading digital assets re-confirmed their position in the "risky asset" category. A technically upward trend has formed in the market in the short term.However, an important side note: The Senate decision is not yet final. After receiving approval from the House of Representatives, the bill will be sent to the President for consideration for signature. Any disruption could resurface uncertainty, potentially exacerbating market turmoil. In this context, indicators investors should closely monitor include fund flows (especially ETFs focused on crypto), Bitcoin's dominance rates, and whether altcoins will join this rally.
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10 Nov 2025
Trump's Crypto Statement: "We've Ended the War"
All eyes are once again on the US in the crypto markets. President Donald Trump delivered a strong message of support for the cryptocurrency industry during his speech at the America Business Forum in Miami. Sharing his vision for the future of Bitcoin and digital assets, Trump emphasized that America should not lag behind in this area and declared that the "crypto war is over."Donald Trump makes a statement on cryptocurrencyAt an event held in Florida on November 5, 2025, as part of the America Business Forum, Donald J. Trump asserted that the US will be the leading country in the cryptocurrency space. He declared, "We are making America the Bitcoin superpower and the crypto capital of the world."In his speech, he claimed that the federal "war" on the cryptocurrency sector is over. He stated, "Crypto was under pressure, but it's not anymore," and presented a new vision. However, this vision did not include concrete timelines or new institutional directions.Trump suggested that digital assets could play a significant role not only in the technology field but also in the financial sphere. He stated that cryptocurrencies reduce pressure on the dollar and could benefit the US in terms of currency sovereignty. He used the phrase, "It alleviates pressure on the dollar."He also warned that rival countries like China could use the crypto sector to their advantage, emphasizing that the US should take an active role in this area. "If it's not done right, this is a major industry, and China is about to start," he said.Government steps are also progressing, albeit slowly, in line with the vision outlined in Trump's speech. Earlier this year, there were signs of the establishment of federal structures such as the "Strategic Bitcoin Reserve" and the "Digital Asset Stockpile" in the US; however, Bitcoin purchases have not yet materialized.Furthermore, the GENIUS Act, signed in July 2025, laid the groundwork for a regulatory framework for stablecoins. However, the market structure and comprehensive regulations are not yet fully established.Why did Trump emphasize crypto?Trump's emphasis on crypto did not emerge overnight. Previous administrations' regulatory crackdown on crypto and the general atmosphere of uncertainty had led to a lack of confidence in the sector. Trump described this situation as a "war," suggesting that this perception had been reversed. He also emphasized the crypto sector's size and support from the business community: "It's a big industry. There are a lot of businesspeople... they were in other businesses, but crypto is also involved," he said. This statement aims to demonstrate that crypto goes beyond being a mere investment tool and offers the potential to create economic growth and jobs.
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6 Nov 2025
Trump: "The US Must Become a Leader in the Crypto Industry, Otherwise China Will Take It"
US President Donald Trump has once again made headlines with his latest statement regarding the cryptocurrency sector. In an interview with CBS correspondent Norah O'Donnell on the program "60 Minutes," Trump emphasized the need for America to maintain its leadership in the crypto industry, saying, "China is entering Bitcoin and crypto in a very big way right now. If we don't lead the way, China or another country will dominate this space."According to Trump, the crypto industry, like artificial intelligence, is central to national competitiveness. Therefore, he argues that the US "must remain at the forefront" in this field, which is shaping the future of global finance. "I want to keep America number one," Trump said, emphasizing that the crypto economy is a strategic area not only for investors but also for the country's technological superiority.CZ defends pardon: "Biden was a witch hunt"During the interview, Trump was also asked about the pardon decision for Binance co-founder Changpeng Zhao (CZ). Zhao, who was convicted of violating money laundering laws in 2023, was described by the US administration at the time as "a case that harms national security." However, Trump defended the decision, saying, "CZ was the victim of the Biden administration's political witch hunt."Trump described Zhao as a "respected and successful businessman." He said he didn't know him personally but believed he was unfairly targeted. "Just like me, he was subjected to malicious attacks from the Biden team," Trump said, adding that the pardon was a fitting decision. He also added that his sons are more interested in crypto than he is, but that he, too, believes digital assets are a "legitimate and valuable part" of the US economy.China's crypto push and the US's raceTrump's warning that "China is entering crypto in a big way right now" also aligns with Beijing's increasing investments in blockchain technologies. While centralized crypto trading is banned in China, it is expanding its global influence through regulated exchanges operating through Hong Kong. It is also strengthening blockchain infrastructure through state-backed projects.According to Trump, a slowdown in the US could jeopardize the country's technological superiority. He argued that crypto innovation accelerated under the previous administration, saying, "When I was president, America was number one in crypto."Trump concluded his remarks with the words, "We are number one, and that's all I care about." He emphasized the need to maintain leadership in both crypto and artificial intelligence. "China, or any other country, should take that away from us," Trump said, reiterating his view of the digital economy as a national strategy.China's rising influence appears to determine how Washington responds to this competition. Trump's message is clear: The crypto industry is not just an investment vehicle; it's a matter of national power. And in this race, he believes America must maintain its leadership position.
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3 Nov 2025
US-China Summit Held: How Were Cryptocurrencies Affected?
The US-China summit held in Busan, South Korea, on Thursday marked a new chapter in the trade war between the two superpowers. In their long-awaited face-to-face meeting, US President Donald Trump and Chinese President Xi Jinping agreed to reduce tariffs and strengthen economic cooperation. The meeting was closely watched by both global markets and crypto investors.The two leaders met for the first time since 2019. Following the talks, Trump announced that the average tariff on goods imported from China would be reduced from 57 percent to 47 percent. Duties on fentanyl precursor chemicals, in particular, were reduced from 20 percent to 10 percent. In return, Beijing pledged to crack down on illicit fentanyl exports, announced that it would resume large-scale soybean purchases from the US, and resume rare earth element exports. Trump described the agreement as a "12 on a scale of 1 to 10."Markets initially reacted cautiously. Asian indices experienced volatility, with the Shanghai Composite Index retreating slightly from its decade-high. US soybean futures also saw small declines. Analysts noted that investors had already priced in this agreement, and the market reaction was therefore limited. Nevertheless, experts believe this development could ease inflationary pressures and allow central banks to maintain looser monetary policies.The Trump administration's withdrawal from its threat of 100% tariffs on Chinese goods and Beijing's postponement of rare earth restrictions are considered positive steps, particularly for the high-tech and artificial intelligence sectors. This move could also ease the production chain for hardware used in crypto mining.How were cryptocurrencies affected?The summit also coincided with the week in which the US Federal Reserve (Fed) officially ended its monetary tightening campaign and cut interest rates. Considering these two developments together, increased liquidity and risk appetite may resurface in global markets. Historically, such periods strengthen the potential for upward movement in risky assets like Bitcoin and Ethereum.While crypto markets experienced brief volatility before the summit, they showed signs of recovery as trade tensions eased. Analysts note that the combined impact of the Fed's interest rate cut and the US-China detente could drive new institutional inflows into digital assets in the coming weeks.On the geopolitical front, despite the optimism, a cautious tone prevails. Trump and Xi acknowledge that technology competition will continue. China wants the US to ease technology export restrictions, while Washington continues to establish alternative supply chains with Japan and Southeast Asia.Ultimately, the Busan summit represents a temporary truce in the years-long trade war. However, whether this truce will last will depend on how well both countries deliver on their promises. For now, markets remain cautiously optimistic; on the Bitcoin front, investors have begun to return to risk-taking mode.
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30 Oct 2025
When Will the Fed's Interest Rate Decision Be Announced? The Countdown Has Begun
The US Federal Reserve (Fed) is preparing to cut interest rates following the FOMC meeting, which concludes today. Markets view a 25 basis point cut as almost certain. This decision is seen as the start of a new easing cycle in monetary policy and could create a strong liquidity surge, particularly for risk assets such as stocks, cryptocurrencies, and gold. Fed's interest rate decision awaitedAccording to CME FedWatch data, markets are pricing in a 25 basis point cut with a greater than 99% probability. This step is being considered both a precaution against the economic slowdown and a move to offset the weakening employment. However, the messages delivered by Fed Chair Jerome Powell following the decision will determine the interest rate path in December and early 2026.This meeting coincided with an unusual period of restricted data flow. Due to the ongoing government shutdown in the US, key economic indicators such as inflation, employment, and growth were not released. This situation caused the Fed to make decisions under a state of "data blindness." Officials were forced to use state-by-state unemployment claims, private sector forecast models, and local business surveys instead of official reports.According to a Reuters poll, most economists believe the Fed will support growth by cutting interest rates this month. However, some members advocate for a more aggressive 50 basis point move, while others oppose halting the balance sheet reduction process (QT). These differences indicate differing perceptions of economic risk within the Fed.Possible scenarios fall into three categories:A 25 basis point cut would create "expected and controlled" relief for the market; the dollar index and bond yields would decline, increasing risk appetite.A surprise 50 basis point cut would indicate that growth concerns are outweighing and increase volatility in the short term.Keeping interest rates steady would shock markets, leading to a sell-off in stocks and a rise in safe-haven assets like bonds and gold.From a crypto market perspective, a rate cut is generally a positive signal. Lower interest rates and a weaker dollar encourage investors to turn to riskier assets. Bitcoin and Ethereum could benefit from increased liquidity during this period. Analysts note that BTC has seen gains of 20-50% in past price cuts, but they emphasize that data uncertainty could sharpen price movements this time around.A similar picture is playing out on Wall Street. The Dow Jones Industrial Average, S&P 500, and Nasdaq indices closed at record highs ahead of the decision. Investors positioned themselves against the possibility of a "small but potentially sustained" price cut. While experts describe the 2025-2026 period as a "wealth creation phase," they also highlight the risk of a sharp correction toward the end of 2026, particularly in artificial intelligence and technology stocks.When will the decision be announced?The Fed decision will be announced at 9:00 PM Turkish time, and Powell's press conference will begin at 9:30 PM. All eyes will be on Powell's forward-looking guidance. "The pace of further reductions," "the balance sheet reduction process," and "decision-making in a data-deficient environment" will be the most critical headlines of the evening. Even a single sentence could shake the dollar, gold, and crypto markets in seconds.
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29 Oct 2025
Trump Picks Fed Chair: Crypto-Friendly Names in the Race
Major change is imminent at the US Federal Reserve (Fed). The Donald Trump administration has selected five candidates for the new Fed Chair, replacing current Chairman Jerome Powell. Treasury Secretary Scott Bessent announced that the shortlist will be presented to Trump immediately after Thanksgiving, with the final decision to be announced before the end of the year. This development suggests that the central bank's direction could change significantly in 2026.Who are among the Fed Chair candidates?The list includes Christopher Waller, Michelle Bowman, Kevin Warsh, Kevin Hassett, and Rick Rieder. These names include both current Fed members and experienced economists from the private sector. Given Trump's criticism of Powell for being "slow on interest rate cuts," the new chair is expected to lean toward a pro-growth and more aggressive monetary policy.Christopher Waller is one of the most notable names on the list. Appointed to the Fed Board by Trump in 2020, Waller has consistently advocated for swifter action on interest rate cuts. Waller, who describes Bitcoin as "electronic gold," believes stablecoins can increase competition in the financial system. He recently stated that crypto companies should be given direct access to the Fed's payment infrastructure. He believes digital assets are now an integral part of the financial system.Michelle Bowman, the Fed's deputy chair for oversight, is known for her cautious yet open-minded approach to crypto. Bowman argued that regulators should not be "overly cautious" and that it would be beneficial for Fed employees to experience digital assets in small amounts. She emphasized the importance of firsthand experience, saying, "I wouldn't want to take lessons from someone who's never skied." The crypto community has responded quite favorably to this approach.Former Fed governor and Bush-era advisor Kevin Warsh is a more cautious member of the list. Although Warsh invested in crypto startups like Bitwise years ago, he disagrees with the idea that Bitcoin can replace the dollar. In a 2018 article published in the Wall Street Journal, he stated, “Bitcoin’s volatility makes it less of a reliable means of payment.” Despite this, his interest in central bank digital currencies (CBDCs) could lead to conflicting views within the Trump administration.Trump’s former economic advisor, Kevin Hassett, is notable for both his loyalty and his crypto investments. Hassett, a Coinbase shareholder, is expected to pursue a crypto-friendly policy. He was also in the news recently for his comments during the government shutdown debate.The final name of the five, Rick Rieder, is a Wall Street heavyweight. Rieder, who served as head of global fixed-income securities at BlackRock, played an indirect role in the rise of Bitcoin ETFs. He has previously stated that he sees Bitcoin as a portfolio diversifier and a hedge against inflation. However, he remains distant from the idea that digital assets can “solve the world’s monetary problems.”Trump’s choice to replace Powell could also determine the direction of the crypto markets. According to experts, a dovish (low-interest) candidate like Waller or Hassett could boost Bitcoin and altcoin prices by increasing liquidity. Conversely, a candidate focused on preserving market balance, like Rieder, could create a more cautious atmosphere.
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28 Oct 2025
Bitcoin Clings to $114,000: All Eyes on Fed Meeting
The Bitcoin price started the week cautiously, trading around $114,000. Investors are reconsidering their positions in anticipation of a rate cut at this week's US Federal Reserve (Fed) meeting. The market is generally flat, with major altcoins like Ethereum, Solana, and Binance Coin (BNB) experiencing average declines of around 2%. Bitcoin, which rose from $104,800 to $116,000 last week, was strengthened by positive signals regarding China-US trade talks and increased risk appetite. However, in the new week, investors are choosing to wait for the impact of a potential interest rate cut on the market."Bitcoin's recent recovery indicates that institutional investors are re-entering the market and long-term confidence is increasing," said Lacie Zhang, research analyst at Bitget Wallet. Zhang noted that open interest volume has increased from $25 billion to $30 billion, emphasizing that this could both increase upside potential and increase the risk of liquidation in the event of a potential decline. According to market data, open interest and funding rates on derivatives exchanges remain high but remain stable. This suggests traders are not taking excessive risks.Fed decision awaitedThe Fed's Open Market Committee (FOMC) meeting will be held on October 28–29. Markets expect a second 25 basis point interest rate cut and a widening of the interest rate range to 4.00–4.25 percent. This decision is considered the clearest indication that the central bank is shifting from monetary tightening to easing.Zhang said, "Powell is expected to maintain his emphasis on data-driven action in his statements, signaling a controlled liquidity expansion. This supports both bond demand and appetite for risky assets."This "dovish" stance is taking shape amid the delayed release of official economic data due to the US government shutdown. Powell is reportedly placing greater emphasis on private sector indicators (such as the ADP employment report) to compensate for the lack of data. Bitcoin is strong, altcoins are weakBitcoin gained 5.8 percent on a weekly basis, positively decoupling from other cryptocurrencies. FxPro analyst Alex Kuptsikevich commented, “Bitcoin used its 200-day moving average as support and rose above $116,000. The $117,000-$120,000 range is a strong resistance zone, but a sustained breakout could lead to new highs.”In contrast, the altcoin market is showing a mixed picture. Ethereum (ETH) fell 2.6 percent to $4,115. Solana (SOL) is trading around $202, while BNB is down 2 percent. XRP is trading around $2.65, and DOGE is trading around $0.20.On-chain data shows that Bitcoin, which has been dormant for more than seven years, is moving at a record pace. This suggests that some early investors are taking profits. The total cryptocurrency market capitalization stands at approximately $3.9 trillion and remains above both its 50- and 200-day moving averages. Analysts note that the market has moved past its fear phase, with investors now shifting to a "wait-and-see" mode.With the expectation of a rate cut, Bitcoin is expected to fluctuate in the $115,000–$120,000 range in the coming days. The market's direction will be determined by the potential increased volatility following the Fed's decision and the reaction of leveraged positions.
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28 Oct 2025