Elon Musk’s latest cost-cutting efforts in the federal government have raised concerns about potential conflicts of interest. The Consumer Financial Protection Bureau (CFPB), a regulatory agency overseeing financial services, has been shut down by the Department of Government Efficiency (DOGE).
The closure comes as Musk’s social media platform, X, expands into financial services through X Crypto and DOGE Payments. Critics argue that eliminating the CFPB could remove oversight that would have regulated Musk’s financial ventures.
CFPB Shutdown Raises Conflict of Interest Speculation The CFPB, created after the 2008 financial crisis, was responsible for regulating financial services, including digital payment platforms. The agency had recently gained expanded powers to oversee major financial technology companies handling over 50 million transactions annually. This included companies like Apple Pay, Google Wallet, PayPal, and X Crypto.
The shutdown of the CFPB was reportedly executed by DOGE, a cost-cutting task force led by Musk within the Trump administration. The agency’s closure has led to employees being ordered to stop work, with its official website displaying an error message.
Consumer advocates suggest that this move could benefit Musk by eliminating regulatory scrutiny over X Crypto and DOGE Payments. Lindsay Owens, executive director of the Groundwork Collaborative, stated that “part of this is about clearing the way for Musk to move as quickly as possible” in developing X’s financial services.
Elon Musk’s X Crypto Expansion and CFPB’s Role X, formerly known as Twitter, has been making significant moves in the financial sector. The platform recently secured a partnership with Visa to introduce X Money Account, a mobile payments service similar to PayPal and Venmo.
This service, allowing peer-to-peer transactions and money transfers, would have been subject to CFPB oversight before the agency’s shutdown.
Under newly finalized regulations, the CFPB was set to monitor digital payment platforms for fraud, privacy concerns, and dispute resolution practices. This oversight could have directly affected the rollout of X Crypto and DOGE Payments.
Adam Rust, director of financial services at the Consumer Federation of America, told the Washington Post that the agency “would likely be looking into the activities of X,” which may not have been favorable to Musk’s plans.
Elon Musk’s Blockchain Proposal and DOGE Payments Elon Musk has also suggested using blockchain technology, which has been rumoured to be Cardano, for government operations through DOGE. According to reports, he proposed using digital ledgers to track federal spending, secure data, and facilitate payments. This aligns with his ongoing efforts to integrate cryptocurrency into X’s financial ecosystem, including the promotion of DOGE Payments.
Musk has previously advocated for expanding the use of Dogecoin, a cryptocurrency he has openly supported.
His financial technology ambitions suggest that blockchain-based payment capabilities may be included in X Money Account, potentially reducing reliance on traditional banking systems. Visa’s involvement in crypto and Elon Musk’s established ties to digital assets further support the possibility of blockchain integration in X Crypto.
Dogecoin Price Trend Amid Speculation Speculation about Elon Musk’s financial moves has also influenced the cryptocurrency market. Dogecoin (DOGE) has seen price fluctuations as investors react to reports linking the cryptocurrency to Musk’s financial expansion.
Crypto analyst Trader Tardigrade has predicted a bullish target of $4 for Dogecoin, suggesting that DOGE could experience significant gains soon. At press time, Dogecoin price was trading at $0.2552, a 1.57% decline from the intra-day high of $0.267.
Concurrently, market expert CobraVanguard also shared that Dogecoin could first rise to $0.32 and later to $0.60 based on recent price movements.
The financial sector, let alone the crypto market, has buzzed with excitement as Elon Musk’s DOGE announced an audit into the US Securities and Exchange Commission (SEC). Recently, the Department of Government Efficiency (D.O.G.E.) has announced a probe into the US SEC for “waste, fraud, and abuse”, sparking market discussions. Adding to the excitement, XRP lawyer John Deaton has extended his backing for Musk and the department, gaining notable traction from the market participants.
Meanwhile, XRP lawyer John Deaton is a well-known figure in the crypto industry, especially because of his role in the Ripple Vs SEC lawsuit. In addition, he also ran for election to the US Senate (Republican Party) to represent Massachusetts against Elizabeth Warren, whom many deem as an anti-crypto regulator. However, he lost to Warren in the election.
XRP Lawyer John Deaton Joins Forces With Elon Musk’s DOGE XRP lawyer John Deaton, a well-known figure in the crypto industry, has publicly backed the latest initiative of Elon Musk’s DOGE. Deaton, who played a crucial role in the Ripple Vs SEC lawsuit, has taken to social media to extend his expertise. In a recent X post, Deaton stated:
“Elon Musk & DOGE needs to talk to me and I can show you a few things I’ve learned (and helped expose) the last few years.”
His comment has sparked widespread reactions, with crypto enthusiasts welcoming his involvement in the probe against the SEC. Notably, ex-Ripple executive Sean McBride also lauded the latest move by the XRP attorney, sparking discussions in the market.
XRP Community Lauds As Elon Musk’s DOGE Takes Aim At US SEC The newly created X account “DOGE SEC” has actively sought public assistance in gathering evidence against the regulatory agency. In an open call, the account posted:
“DOGE is seeking help from the public! Please DM this account with insights on finding and fixing waste, fraud, and abuse relating to the Securities and Exchange Commission.”
This move has received backing from prominent figures in the industry. Investigative journalist Laura Loomer urged the probe to start with former SEC official Bill Hinman, whose dealings remain under scrutiny. Reacting to that, XRP lawyer Bill Morgan echoed her sentiments, calling it the “perfect place to start.”
Source: Bill Morgan, X Crypto Community Calls Out SEC’s Actions The SEC has been under fire for its handling of key cases, including the XRP lawsuit. The agency has reportedly withheld 201 documents related to its communication with JPMorgan about Ripple and XRP. Ripple’s Chief Legal Officer, Stuart Alderoty, previously stated, “I have the receipts,” indicating evidence of possible US SEC misconduct.
This has also sparked discussions if the latest probe could lead to an end in the ongoing Ripple Vs SEC lawsuit. Notably, a top XRP lawyer has recently commented on the potential impact of the Ripple lawsuit on the XRP ETF approval process, which has gained immense attention from market watchers.
Meanwhile, Coinbase’s Chief Legal Officer, Paul Grewal, also weighed in, suggesting that those who successfully defend themselves against SEC lawsuits should be reimbursed for legal fees. Meanwhile, critics have called for a closer look at the “ETH Gate” controversy, which alleges that the SEC gave preferential treatment to Ethereum while targeting other crypto firms.
Having said that, with the DOGE initiative gaining traction and XRP lawyer John Deaton lending his legal expertise, pressure is mounting on the US SEC to address its controversial actions. Whether this probe leads to tangible changes remains to be seen, but it has undoubtedly reignited the crypto community’s call for accountability.
As FTX founder Sam Bankman-Fried breaks his two-year silence, scammers have seized the opportunity to create a fake account on X, unleashing meme coins. Posing as SBF, the impostors falsely claimed that Donald Trump had pardoned him and that he was joining the Elon Musk-led Department of Government Efficiency.
Following SBF’s appearance on his X account, the FTT token surged by about 29% only to fall soon. Despite the recent dip, investors show growing interest in the token.
SBF Fake Account Releases Meme Coin In a shocking turn of events, a fake account impersonating Sam Bankman-Fried issued meme coins and their contract addresses. The scammers also claimed that President Donald Trump has pardoned SBF who has been serving out a 25-year prison sentence on seven counts of fraud and conspiracy.
This development comes after SBF’s recent X post on the Department of Government Efficiency’s (DOGE) layoffs. Subsequently, the scammers created a fake account, claiming that SBF was joining DOGE.
Multiple users flagged the account for suspicious activity, noting the gray verification checkmark on X, typically reserved for government or multinational organization accounts. Several X users condemned this as identity theft and fraud, warning investors to be cautious of such scams. The SBF fake account message was quickly removed, leaving no trail of the scammers’ intentions or their planned next steps.
It is noteworthy that the SBF fake account’s release of meme tokens comes amidst the broader meme coin mania initiated by Donald Trump’s TRUMP.
Sam Bankman-Fried Breaks Silence after Two Years Earlier today, Sam Bankman-Fried shared a series of X posts, reflecting on the US government layoffs implemented by the Trump administration. Notably, Elon Musk’s DOGE agency has reduced its federal workforce by approximately 95,000 positions, mainly through voluntary resignations and the dismissal of probationary employees.
1) I have a lot of sympathy for gov’t employees: I, too, have not checked my email for the past few (hundred) days
And I can confirm that being unemployed is a lot less relaxing than it looks
— SBF (@SBF_FTX) February 25, 2025
Addressing the issue, SBF highlighted the harsh realities of unemployment. He posited that unemployment is more challenging than expected. He also emphasized that the case arises from broader organizational issues rather than individual performance.
FTT Token Surges: Will It Sustain? Triggered by SBF’s post, FTX’s FTT token saw an uptick of more than 29%, reaching a high of $2.1. However, the token soon plummeted and is now trading at $1.6, marking a loss of 3.54% over the last 24 hours. FTT has experienced deeper declines of 19% and 21% over the past week and month, respectively.
Significantly, FTX repayment updates and SBF’s surprise return has fueled investor sentiment. This is evident in FTT’s increasing daily trading volume, which reached $84.67 million, up by 175%.
Tesla and SpaceX CEO Elon Musk compared investments in meme coins to casino games on Friday, warning investors against pouring their life savings into such assets.
What happened: During a chat with Joe Rogan on the popular "The Joe Rogan Experience" show, Musk said, “It’s like a casino or something. And then people just do the greater fool theory and like musical chairs, and whoever is the last to sit down loses type of thing."
Musk stated that expecting to win at the casino is foolish, and so is the case with meme coins.
"You’re not gonna win at meme coins," Musk emphasized. "Don’t sink your life savings into a meme coin."
Musk used a popular idiom to drive home the point, saying, "Don’t bet the farm on meme coins."
In fact, the acronym for the Department of Government Efficiency, a federal government initiative created by the tech mogul, is based on Dogecoin.
Musk’s views echoed those of billionaire investor Mark Cuban, who previously criticized meme coins as a ‘hustle’ and likened them to a game of musical chairs.
More recently, the SEC clarified that meme coins do not fall under federal securities laws, but fraudulent activities involving these coins could still face legal consequences.
Price Action: At the time of writing, Dogecoin was exchanging hands at $0.2278, up 10.14% in the last 24 hours, according to data from Benzinga Pro.
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Influential tech entrepreneur Elon Musk categorically ruled out the idea of the U.S. government using Dogecoin (CRYPTO: DOGE) on Sunday, even though his initiative, the Department of Government Efficiency, makes a playful reference to the meme-based cryptocurrency.
What Happened: During a town hall event in Green Bay, Wisconsin, Musk was asked whether the Dogecoin blockchain might be used to improve government transparency.
“Well the names are similar, but they’re doing two very different things,” the Tesla and SpaceX CEO responded.
Musk stated that he first planned to name the department the “Government Efficiency Commission” but changed it to the Department of Government Efficiency after receiving suggestions on the internet.
“But there are no plans for the government to use Dogecoin or anything as far as I know,” Musk clarified.
This statement comes in the wake of Musk’s previous comments comparing investments in meme coins like Dogecoin to casino games. He had warned investors against pouring their life savings into such assets.
Why It Matters: Musk has been an avid supporter of Dogecoin, and his social media posts have routinely sent the dog-themed cryptocurrency rallying.
Moreover, his automobile firm, Tesla, previously accepted Dogecoin payments. Last year, he expressed a desire to reinstate the option for the company's merchandise.
Price Action: At the time of writing, DOGE was exchanging hands at $0.1667, down 3% in the last 24 hours, according to data from Benzinga Pro.
Image via Shutterstock
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Elon Musk has doused optimism for the US government to adopt Dogecoin at the America PAC town hall event. The head of the Department of Government Efficiency (DOGE) noted that the government agency only bears a nominal resemblance to the memecoin.
Elon Musk Dispels Rumors Of Dogecoin Adoption By The US Government At a recent event, Tesla CEO Elon Musk cleared the air on the potential adoption of Dogecoin by the US government. In his keynote speech, Musk noted that the US government will not be adopting Dogecoin, contrary to swirling speculation.
Musk noted that the speculation gained traction following the launch of the Department of Government Efficiency (DOGE). Following the launch of DOGE and Musk tapped to lead the agency, enthusiasm for Dogecoin government utility reached new highs.
However, Musk clarified that the agency bears only a nominal resemblance to the memecoin, stemming from an internet trend. The Tesla CEO disclosed that the original intended name was the Government Efficiency Commission, opting for DOGE “because the internet is right.”
“The name is similar but they are two different things,” said Musk. “But there are no plans for the government to use Dogecoin as far as I know.”
Musk has a long and storied history with Dogecoin, famously shilling the memecoin and integrating DOGE payments for Tesla. Musk teased an anime-themed DOGE on X, setting the stage for a $2 rally for the memecoin.
DOGE Reacts Negatively To The News Dogecoin price slumped by nearly 2% in the wake of the grim report. Currently, the memecoin is trading at 0.1660 as it eyes a push toward the $1 mark.
The negative fundamental adds pressure to reports of DOGE forming a falling wedge pattern, signaling a potential downward breakout. However, optimists are rippling with confidence that DOGE can shake off the negative sentiments to post new all-time highs.
One analysis claims that if the Dogecoin price breaks a 3-month trendline, an $8 valuation for the memecoin is in play. Others claim that the House of Doge Reserve launch will be a tailwind for Dogecoin price, sending the dog-themed coin on a strong rally.
Coinbase (NASDAQ:COIN) CEO Brian Armstrong has called on Department of Government Efficiency contractors to apply to Coinbase to “help create a more efficient financial system for the world.”
What Happened: In a post on X on May 13, Armstrong wrote “If you’re looking for your next mission to serve your country, consider taking the DOGE Staff interview, help us build a more efficient financial system for the world at Coinbase.”
He reposted a video featuring a Harvard dropout who joined the DOGE team, saying he found greater impact and purpose working on financial reform than in academia.
Also Read: Coinbase Analysts Look Ahead To Q2 After Disappointing Q1: ‘Higher Crypto Prices… Increased Volumes’
Why It Matters: Armstrong has long championed DOGE as a vehicle for financial reform, previously describing it as a "once-in-a-lifetime opportunity" to expand economic freedom in the U.S.
In November 2024, he even proposed replacing individual income tax with corporate taxation, highlighting DOGE's role in broader policy innovation.
More recently, in May 2025, Armstrong noted that stablecoins like USDC have strong network effects and urged banks to partner with existing players rather than creating their own.
In February 2025, Armstrong likened Bitcoin adoption to the early days of mobile phones and the internet, predicting billions of global users by 2030.
As Coinbase gains momentum, including its inclusion in the S&P 500 Index, Armstrong's DOGE initiative may signal a deeper push toward financial system disruption from within the industry's top leadership.
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Bitcoin can soon cross the $200K mark due to rapidly contracting supply.
Matt Hougan, the chief investment officer of Bitwise, said that the king cryptocurrency can hit the milestone by the end of 2025, considering demand and supply.
Hougan’s rationale is that miners can only produce 165,000 $BTC this year. On the other hand, Strategy alone has bought 379,800 $BTC over the past six months. This means that miners can’t produce enough $BTC to satiate the market’s demand.
Moreover, a huge amount of money has been flowing into Bitcoin ETFs, with the total now standing at $6B. Add to this governments and corporations also buying $BTC left, right, and center, and we’re witnessing an unforeseen demand for the ‘digital gold.’
Hougan expects that $BTC sellers would stop at $100K, which is also a huge psychological level.
Keep reading to learn more about Bitcoin’s brewing rally. We’ll also list down the best altcoins you can buy to benefit from this.
Shrinking Bitcoin Supply Michael Saylor’s Strategy has emerged as the most aggressive Bitcoin buyer. The company now holds a whopping 568,840 $BTC worth $59.03B.
Because of this, the Bitcoin supply has turned deflationary (-2.33%), as per analyst Ki Young Ju. Simply put, Bitcoin’s supply is decreasing by 2.33% every year.
Now, with other firms such as Cantor Fitzgerald’s Twenty One also buying Bitcoin aggressively and governments rushing to form a Bitcoin reserve, this deflationary rate is only expected to increase in the next few years.
In other words, Bitcoin could become an asset of the rich with limited supply.
It’s worth noting that Bitcoin is not expected to stop even after it reaches $200K. Crypto analyst Scott Melker said in a recent interview that the asset can reach $250K by the end of 2025.
Heavy corporate investments have meant that Bitcoin has become less volatile over the years. Earlier, it was about three times more volatile than the S&P 500, but it’s now less than twice as volatile.
Decreasing volatility is a strong indication of increasing institutional interest. The more money flows into an asset, the less volatile it becomes.
If you, too, want to benefit from Bitcoin’s mighty swing upwards, this might be your last chance. If you’re looking for ideas, here are some of the best cryptos to invest in right now.
1. BTC Bull Token ($BTCBULL) – Best Altcoin to Buy to Ride Bitcoin’s Growth A Bitcoin rally generally means happy times for the broader crypto (and meme coin) market.
However, becoming an early investor in BTC Bull Token ($BTCBULL) will allow you to make the most of Bitcoin’s growth.
That’s because $BTCBULL is the ONLY crypto today offering real (and free) $BTC via airdrops to its token holders.
Every time Bitcoin reaches a landmark figure, such as $150K, $200K, and $250K, for the first time, $BTCBULL holders who have stored their tokens in Best Wallet will automatically receive their share of $BTC.
As mentioned earlier, Bitcoin is expected to reach $250K this year, meaning you can benefit from at least three $BTC airdrops, depending on when BTC Bull Token goes live.
The project is currently in presale, with over $5.9M in early investor funding. Luckily for you, one $BTCBULL is available for just $0.00252.
It’s also worth noting that the project’s developers have planned to follow a deflationary model.
This simply means that the total $BTCBULL supply will keep reducing – every time $BTC’s price jumps $25K, to be precise – which will likely boost demand.
For more information, check out our guide on how to buy BTC Bull Token.
2. MIND of Pepe ($MIND) – Best AI Agent Coin Offering Real-Time Crypto Investment Insights A booming crypto market is a launchpad for viral meme coins. We’ve already witnessed this in the last couple of weeks, with tokens like $MOODENG, $KEKIUS, and $GOAT recording triple-digit gains.
MIND of Pepe ($MIND) is a potentially revolutionary new crypto that will help you identify such high-potential tokens before they rocket to the moon.
Its autonomous AI agent stirs up conversations on online platforms like X, talking to the crypto community and doing deep dives into their opinions on various altcoins.
Finally, it analyzes all the collected data using its cutting-edge hive-mind analysis to read the market’s pulse and zero in on the best cryptos to buy.
Remember, $MIND is also self-evolving, which is why it’ll be able to create its own tokens once it has spread its popularity far and wide in the crypto community.
Finally, it’s worth noting that only $MIND token holders will have access to the AI agent’s real-time insights and investment suggestions.
Additionally, if you want to make the most of $MIND’s predicted 800% growth, consider becoming an early investor in the project.
Hurry up, though, because the $MIND presale ends in less than two weeks. Each token is currently available for just $0.0037515, and the project has raised $9.4M in total. Buy $MIND now.
3. Department of Government Efficiency ($DOGE) – Viral Meme Coin Inspired by Musk’s DOGE The Department of Government Efficiency (DOGE) is Elon Musk’s newest infamous initiative.
As the name suggests, DOGE’s mission is to assist the second Trump administration by maximizing the productivity of the federal government.
Considering that anything Musk touches becomes a fad in crypto, it’s hardly a surprise that $DOGE (not Dogecoin, mind you) has risen to become one of the top trending cryptos.
To make the most of its viral bottom line, the $DOGE meme coin offers a few distinct advantages to crypto traders.
For instance, you don’t have to pay any fees while buying, selling, or transferring $DOGE. Next, this low-cap coin is now completely owned by the community; the $DOGE owner has given up control over it.
$DOGE is up over 140% in the last month or so, including 76% in just the last seven days.
It’s currently trading at $0.03318, which, seeing as Trump’s second term is only getting started, could be a great entry point for interested investors.
Remember, Even the Best Altcoins Require Sound Risk Management With a Bitcoin rally looking imminent, top altcoins like BTC Bull Token ($BTCBULL) and MIND of Pepe ($MIND) offer once-in-a-lifetime opportunities thanks to their unique prospects and low prices.
However, bear in mind that the crypto market guarantees nothing. It’s highly volatile and unpredictable, which is why you should only risk what you can afford to lose.
Also, kindly do your own research before investing; this article is not financial advice.
Another key figure at the Department of Government Efficiency, nicknamed “Big Balls”, has reportedly stepped down, following the exit of Elon Musk from the federal initiative meant to reduce wasteful spending.
What Happened: Edward Coristine, a 19-year-old high school graduate operating under the pseudonym “Big Balls”, has resigned from his role at DOGE, The Hill reported Tuesday, citing a White House official with knowledge of the matter.
Coristine was a key participant in high-level meetings involving the DOGE, Treasury Department, Commerce Department, and military operations during his tenure, the report said.
Despite his age and education, Coristine gained access to the United States’ payroll systems. However, his Google Workspace account with the General Services Administration (GSA) is no longer active following his resignation, as reported by WIRED.
DOGE didn’t immediately return Benzinga’s request to confirm this news.
See Also: Peter Schiff Slams Texas For Authorizing Bitcoin Reserve: ‘Another Example Of Why The Founding Fathers Distrusted Democracy’
Why It Matters: Coristine, previously lauded by Musk, was reportedly linked to a cybercrime group, leading to concerns about the integrity of the DOGE initiative. His former company, DiamondCDN, had ties to a website operated by the cybercrime group “EGodly”.
At the same time, the initiative faced flak for seeking access to sensitive government systems such as the Treasury Department and potential conflicts of interest.
Price Action: The DOGE acronym also alludes to Dogecoin (CRYPTO: DOGE), a meme coin that Musk has liked over the years, although there is no direct link between the department and the cryptocurrency.
At the time of writing, DOGE was exchanging hands at $0.1657, up 1.07% in the last 24 hours, according to data from Benzinga Pro.
Photo Courtesy: iQoncept on Shutterstock.com
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The U.S. is facing a serious financial challenge. The national debt is now over $36 trillion, and rising interest rates are making it more expensive to borrow money. Much of the debt that was issued during the COVID-19 era is about to roll over, meaning it needs to be refinanced at today’s much higher rates.
In brief The U.S. is facing massive debt and rising interest costs, with few traditional solutions left. Bitbonds are a new idea that combine Treasury bonds with Bitcoin to attract more buyers and lower borrowing costs. They offer upside potential without extra taxpayer risk, and could help legitimize Bitcoin in the process. Bitcoin bonds as a solution If nothing changes, taxpayers will be stuck paying hundreds of billions more in interest every year. But there may be a surprising new idea that could help: Bitcoin-enhanced Treasury Bonds, or Bitbonds.
This idea comes from Matthew Pines, director at the Bitcoin Policy Institute. His proposal is simple: when the U.S. issues new bonds, it could set aside a small portion of the money raised, say 1-10%, to buy Bitcoin.
Some of that Bitcoin would go into a long-term government reserve. The rest would be distributed over time to people who buy the bond, giving them a mix of stable returns from the bond, plus potential upside from Bitcoin.
Why do this? Because it could increase demand for U.S. bonds. With stronger demand, the government wouldn’t need to offer such high interest rates to attract buyers. That could save a lot of money.
It could also send a powerful signal. If the U.S. government starts buying and holding Bitcoin, it would show that it sees Bitcoin as a legitimate, long-term asset. That could boost trust in Bitcoin, and possibly raise its price, which would benefit both the government and investors in Bitbonds.
What’s the risk? Pines says the downside is limited. If Bitcoin drops in value, the bondholder still gets the same return as a normal Treasury bond. If Bitcoin goes up, they get a bonus. It’s like a regular bond, but with optional upside.
Bitbonds wouldn’t replace the current financial system, they’d be a new tool the government could try. Pines recommends starting with a pilot program, to see how investors react.
It’s a bold idea. But with rising debt, global tensions, and limited political options, Bitbonds might offer something rare: a way to lower borrowing costs, promote financial innovation, and ease long-term pressure, without raising taxes or cutting spending.
And if it works, the idea might bring a lot of capital into Bitcoin, at which point the idea of exploring the same principle with different cryptocurrencies such as XRP and Ethereum might get explored.
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Gijs O.
I've been passionate about crypto for nearly a decade, ever since I was young and first became curious about investing. That early spark led me to years of research, writing, and exploring the future of decentralized tech.
DISCLAIMER
The views, thoughts, and opinions expressed in this article belong solely to the author, and should not be taken as investment advice. Do your own research before taking any investment decisions.
The Department of Government Efficiency (DOGE) has been dissolved, according to the Office of Personnel Management (OPM), despite its mandate being scheduled to continue through July 2026.
Despite the news, the meme coin associated with the Elon Musk and Vivek Ramaswamy-led initiative is up by double digits.
Trump’s DOGE Project Is OverDOGE began by executive order on Trump’s first day following reelection. Its mission was to dramatically streamline bureaucracy and cut $6.5 trillion in federal spending.
The launch sparked immediate attention, driving Dogecoin prices up over 10% on the announcement and leading to expectations of more crypto use in government.
OPM director Scott Kupor confirmed the dissolution, noting that DOGE doesn’t exist as a centralized entity. The department’s roles have shifted into OPM, while Trump now refers to DOGE in the past tense at public events.
Good editing by @reuters – spliced my full comments across paragraphs 2/3 to create a grabbing headline 🙂 The truth is: DOGE may not have centralized leadership under @USDS. But, the principles of DOGE remain alive and well: de-regulation; eliminating fraud, waste and abuse;…
— Scott Kupor (@skupor) November 23, 2025 The shutdown came eight months before its expected end. Musk left Washington in May. In June, turmoil appeared as staff packed personal items and searched for new homes, while tensions reportedly rose between Trump and Musk.
Despite its aggressive cost-cutting, the department quietly closed its doors.
Vivek Ramaswamy withdrew from the Ohio Senate race to focus on DOGE, but the department faced criticism for a lack of transparency and public accountability throughout its brief existence.
DOGE agents reportedly moved aggressively through agencies, making large personnel cuts and trimming budgets with minimal stakeholder input.
DOGE’s leadership claimed billions in savings, but no concrete, verifiable evidence has shown true cost reductions from these actions. This lack of transparent accounting has left many questioning whether DOGE improved spending efficiency at all.
Until shortly before its closure, DOGE’s official account posted regular updates on contract reductions, highlighting cost-cutting milestones in multiple agencies.
Contracts Update!
Over the last 9 days, agencies terminated and descoped 78 wasteful contracts with a ceiling value of $1.9B and savings of $335M, including an $616k HHS IT services contract for “social media monitoring platform subscription”, an $191k USAGM broadcasting… pic.twitter.com/83ldxUZ1NY
— Department of Government Efficiency (@DOGE) November 23, 2025 Some former DOGE employees are concerned about possible legal consequences related to their involvement in the department’s aggressive measures.
These concerns reveal persistent questions regarding whether DOGE’s practices crossed legal or ethical lines in its short tenure.
This transition marks a shift from DOGE’s drastic cost-cutting to broader government modernization. Critics have noted that only Congress can officially disband agencies, and DOGE’s scope was always limited to what executive actions could deliver.
Department of Government Efficiency (DOGE) Price Performance. Source: BeInCryptoMeanwhile, the Department Of Government Efficiency cryptocurrency token continues trading. Data on BeInCrypto shows the token’s price sits at $0.00483, up 13.62% in 24 hours.
The dissolution of DOGE raises questions about how sustainable rapid government restructurings can be, and what role executive actions play in structural reform.
As federal operations absorb former DOGE staff and the administration moves on, the real impact of DOGE’s brief experiment remains uncertain and open to further assessment.
DOGE Outperforms Bitcoin, EthereumThe spot price increase piqued the curiosity of derivatives traders, with open interest in DOGE futures surging 3.27% in the last 24 hours, according to Coinglass.
Ali Martinez, a widely followed cryptocurrency analyst and trader, spotted a “Buy” signal for the memecoin from the TD Sequential indicator, mirroring a previous signal that resulted in a 101.5% rally.
The TD Sequential indicator is a technical analysis tool that helps traders identify potential price reversals and exhaustion patterns.
See Also: Dogecoin (DOGE) Price Prediction 2025, 2026, 2030
End Of The Road For Musk’s DOGE?The coin’s rally was also notable as it came despite Scott Kupor, Director of the Office of Personnel Management, confirming that the Department of Government Efficiency no longer exists.
DOGE launched in January with Musk promising $2 trillion in savings, an idea that initially received full support from President Donald Trump. Musk later split with Trump in June over the president’s tax-and-spending bill.
Dogecoin gained significant momentum after Trump’s victory and the subsequent announcement of the DOGE initiative. Although there was no direct link, Musk’s wordplay caused investors to associate the memecoin with the government.
Price Action: At the time of writing, DOGE was exchanging hands at $0.1465, up 2.60% in the last 24 hours, according to data from Benzinga Pro.
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Tom Lee Says Bitcoin, Ethereum Crash Wasn’t Macro But A ‘Software Bug’ Photo Courtesy: Akif CUBUK on Shutterstock.com
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The Department of Government Efficiency dismissed news of its disbandment as “fake” on Monday, declaring that it would be back soon with “regularly scheduled” updates.
DOGE Returning In A ‘Few Days’The official X account of the Department of Government Efficiency, or DOGE, stated that the agency terminated 78 “wasteful” contracts last week, resulting in savings of $335 million for taxpayers.
President Trump was given a mandate by the American people to modernize the federal government and reduce waste, fraud and abuse,” the post read. “We'll be back in a few days with our regularly scheduled Friday update.”
Cameron Winklevoss, co-founder of cryptocurrency exchange Gemini, reacted positively to the development, saying, “Long live DOGE.”
See Also: Dogecoin (DOGE) Price Prediction 2025, 2026, 2030
Trump’s OPM Director Said DOGE Not A ‘Centralized Entity’DOGE’s statement comes after Office of Personnel Management Director Scott Kupor said that DOGE is no longer a “centralized entity,” with the OPM absorbing many of DOGE’s duties.
Notably, Kupor also reposted DOGE’s latest post.
DOGE launched in January with Musk promising $2 trillion in savings, an idea that initially received full support from President Donald Trump. Musk later split with Trump in June over the president's tax-and-spending bill.
Price Action: At the time of writing, DOGE was exchanging hands at $0.1508, up 2.22% in the last 24 hours, according to data from Benzinga Pro.
Read Next:
Bitcoin Is Down 35% In 6 Weeks, But The Next Rally Decides If It’s ‘Over’ Or Not Disclaimer: This content was partially produced with the help of Benzinga Neuro and was reviewed and published by Benzinga editors.
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Tesla and SpaceX CEO reiterated in an interview aired Sunday that Bitcoin (CRYPTO: BTC) is based on energy, categorizing it among “fundamental” currencies.
Bitcoin Is Physics-Based?Speaking to Indian entrepreneur Nikhil Kamath, Musk discussed what he thought were “physics-based” fundamental currencies.
“Energy is the true currency. This is why I said Bitcoin is based on energy,” the technology mogul said.
Musk argued that energy can’t be legislated, adding, “You can’t just pass a law and suddenly have a lot of energy. It’s very difficult to generate energy, or especially to harness energy in a useful way to do useful work.”
See Also: Dogecoin (DOGE) Price Prediction 2025, 2026, 2030
Governments Cannot Fake Energy, Said MuskMusk repeated the arguments he had made earlier in the year. In October, he said that Bitcoin is based on energy, and unlike fiat currencies, governments cannot “fake” it and issue their own.
It’s worth noting that Bitcoin mining requires a huge load of electricity to power computers and solve complex mathematical puzzles. It is through mining that the network is secured and new BTC enter the system.
DOGE Was ‘Common Sense’Musk also talked about his Department of Government Efficiency, or DOGE, initiative, calling it an “interesting side quest” that gave him insight into the “inner workings” of government.
“So a bunch of things that DOGE did were just very common sense, things that would be normal for any organisation that cared about financial responsibility,” he said.
Musk also said that the department continues to function, adding, “It’s still going on, by the way. DOGE is still happening.”
The DOGE department dismissed news of its disbandment as "fake" last week, declaring that it would be back soon with "regularly scheduled" updates.
DOGE's website shows roughly $214 billion in savings, with the last update on Oct. 4. Reports emerged suggesting the numbers were inflated by counting maximum possible contract values and not actual spending reductions.
Price Action: At the time of writing, BTC was exchanging hands at $86,563.48, down 4.75% over the last 24 hours, according to data from Benzinga Pro. Dogecoin traded down 6.88% at $0.1381 at last check.
Read Next:
Hillary Clinton Warned ‘Exotic’ Crypto Could Destabilize Nations: These Countries Took The Worst Reserve Hits In The Bitcoin Meltdown Photo Courtesy: mundissima on Shutterstock.com
Disclaimer: This content was partially produced with the help of Benzinga Neuro and was reviewed and published by Benzinga editors.
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Popcat (CRYPTO: POPCAT) plunged nearly 50% from its intraday high, falling to $0.138 after a failed breakout above $0.21 triggered heavy profit-taking and renewed selling pressure.
The rejection near $0.21 marked heavy selling pressure along Popcat's long-term descending trendline from April.
The move erased most of the token's 40% rally today, signaling exhaustion among short-term buyers.
On the 30-minute chart, Popcat's structure turned bearish after a large reversal candle wiped out early gains.
The Supertrend flipped red near $0.194, confirming a shift in momentum as intraday sellers took control.
RSI dropped from overbought levels above 80 to 35, showing weakening demand and the potential for further correction.
Immediate support sits between $0.138 and $0.14, a zone formed earlier this week during prior accumulation.
A break below this range could expose the next key support near $0.12, where buyers may attempt to stabilize price.
$30 Million Long Liquidation Triggers Popcat CrashAccording to on-chain data, a trader reportedly withdrew $3 million USDC (CRYPTO: USDC) from OKX and distributed it across 19 wallets, building an aggressive $30 million long position on Popcat near $0.21.
After removing a massive buy wall, the trader's position was liquidated within seconds, forcing Hyperliquid (HLP) to take over and close the trade manually.
The event led to a rapid 50% price drop and an estimated $4.9 million loss for HLP, highlighting the extreme leverage and manipulation risk in meme coin markets.
The liquidation also coincided with heightened volatility across smaller meme assets, amplifying Popcat's intraday collapse despite strong inflows earlier in the day.
In brief Hyperliquid temporarily paused Arbitrum-based deposits and withdrawals. A community-owned vault suffered nearly $5 million in losses. Onlookers attributed the loss to a potentially malicious Popcat trader. Hyperliquid traders using Arbitrum-based infrastructure were temporarily unable to make deposits or withdrawals on Wednesday, as the decentralized exchange for perpetual futures appeared to respond to a series of potentially malicious Popcat trades.
Blockchain researcher Conor Grogan was among onlookers on X who said withdrawals were “processing normally” again, less than a couple of hours after Hyperliquid’s users began peppering the project’s Discord server with questions about a potential attack.
“The blockchain is not under maintenance,” an admin for Hyperliquid’s discord server who goes by iliensinc said. “The Arbitrum bridge is temporarily paused. Other deposits and withdrawals should be unaffected.”
Previously, members of Hyperliquid’s Discord server had shared screengrabs of a notice from Hyperliquid’s website, saying “USDC deposits and withdrawals from the Arbitrum bridge are paused for maintenance.”
A community-owned “vault” on Hyperliquid, where users can deposit funds, lost $4.9 million on Wednesday, according to the exchange’s website. The loss was linked to positions being liquidated on the exchange by an individual who goes by MLM on X.
Someone just passed $5M of bad debt on POPCAT to Hyperliquid’s Hyperliquidity Provider (HLP).
The individual affected had withdrawn $3M this morning from OKX, and split it across 19 different accounts, all used to long POPCAT with ~5x leverage.
These 19 accounts were liquidated… pic.twitter.com/esqeKudqlf
— Arkham (@arkham) November 12, 2025
Using $3 million in stablecoins, an individual entered into $20 million worth of long positions across 19 wallets, MLM said. The individual, who was betting on the price of meme coin Popcat to increase, was later liquidated, forcing the community-owned vault to step in, MLM said.
MLM said that Hyperliquid “manually closed the position,” but not before the meme coin’s falling price caused notable losses for the community-owned vault. In recent months, users’ liquidations have caused temporary setbacks for the vault.
The dynamic also led Hyperliquid to delist Solana-based meme coin JELLYJELLY, provoking criticism that the exchange is not as decentralized as people may think.
MLM claimed that the Popcat-linked activity was “clearly a deliberate attempt to mess” with Hyperliquid and the community-owned vault, but the situation hadn’t been acknowledged by the decentralized exchange yet, as of this writing.
Hyperliquid’s status page details no recent incidents, but a transaction on Ethereum layer-2 scaling solution Arbitrum shows an “EmergencyLock” function was triggered.
Decrypt has reached out to Hyperliquid.
Popcat has a market capitalization of $136 million, according to crypto data provider CoinGecko. Although the meme coin’s price had risen 5.6% to $0.13 over the past day, the Solana-based token’s price was still down 91% over the past year.
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In brief Hyperliquid temporarily paused Arbitrum-based deposits and withdrawals. A community-owned vault suffered nearly $5 million in losses. Onlookers attributed the loss to a potentially malicious Popcat trader. Hyperliquid traders using Arbitrum-based infrastructure were temporarily unable to make deposits or withdrawals on Wednesday, as the decentralized exchange for perpetual futures appeared to respond to a series of potentially malicious Popcat trades.
Blockchain researcher Conor Grogan was among onlookers on X who said withdrawals were “processing normally” again, less than a couple of hours after Hyperliquid’s users began peppering the project’s Discord server with questions about a potential attack.
“The blockchain is not under maintenance,” an admin for Hyperliquid’s discord server who goes by iliensinc said. “The Arbitrum bridge is temporarily paused. Other deposits and withdrawals should be unaffected.”
Previously, members of Hyperliquid’s Discord server had shared screengrabs of a notice from Hyperliquid’s website, saying “USDC deposits and withdrawals from the Arbitrum bridge are paused for maintenance.”
A community-owned “vault” on Hyperliquid, where users can deposit funds, lost $4.9 million on Wednesday, according to the exchange’s website. The loss was linked to positions being liquidated on the exchange by an individual who goes by MLM on X.
Someone just passed $5M of bad debt on POPCAT to Hyperliquid’s Hyperliquidity Provider (HLP).
The individual affected had withdrawn $3M this morning from OKX, and split it across 19 different accounts, all used to long POPCAT with ~5x leverage.
These 19 accounts were liquidated… pic.twitter.com/esqeKudqlf
— Arkham (@arkham) November 12, 2025
Using $3 million in stablecoins, an individual entered into $20 million worth of long positions across 19 wallets, MLM said. The individual, who was betting on the price of meme coin Popcat to increase, was later liquidated, forcing the community-owned vault to step in, MLM said.
MLM said that Hyperliquid “manually closed the position,” but not before the meme coin’s falling price caused notable losses for the community-owned vault. In recent months, users’ liquidations have caused temporary setbacks for the vault.
The dynamic also led Hyperliquid to delist Solana-based meme coin JELLYJELLY, provoking criticism that the exchange is not as decentralized as people may think.
MLM claimed that the Popcat-linked activity was “clearly a deliberate attempt to mess” with Hyperliquid and the community-owned vault, but the situation hadn’t been acknowledged by the decentralized exchange yet, as of this writing.
Hyperliquid’s status page details no recent incidents, but a transaction on Ethereum layer-2 scaling solution Arbitrum shows an “EmergencyLock” function was triggered.
Decrypt has reached out to Hyperliquid.
Popcat has a market capitalization of $136 million, according to crypto data provider CoinGecko. Although the meme coin’s price had risen 5.6% to $0.13 over the past day, the Solana-based token’s price was still down 91% over the past year.
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Memecoin POPCAT experienced a significant downturn on Wednesday following a major manipulation event on Hyperliquid (HYPE), one of the leading decentralized exchanges in the cryptocurrency market.
POPCAT Faces 43% Drop Following Manipulative Scheme According to a detailed analysis of the situation by DeFi researcher Hanzo on social media site X (previously Twitter), an unknown trader executed a well-coordinated strategy approximately 13 hours prior to the market disruption.
The trader withdrew $3 million in USDC from the OKX exchange and distributed the funds across 19 different wallets on Hyperliquid. Subsequently, they initiated sizable long positions on POPCAT, accumulating total exposure estimated between $20 million and $30 million.
To create an illusion of demand for the memecoin, the trader placed a massive buy wall at the price point of $0.21, with orders totaling $30 million lined up on the order book. This artificial façade of high buying interest successfully attracted real traders, prompting them to jump on the bandwagon and increase their own buying activity.
However, the situation took a swift turn when the trader removed the buy wall without warning, leading to an instantaneous collapse in the price of POPCAT. This shift resulted in the liquidation of all the long positions taken by traders.
The unknown trader lost their $3 million collateral, while Hyperliquid’s HLP system automatically absorbed the open positions. This action triggered an additional loss of approximately $4.9 million to the HLP, exacerbating a broader market selloff across the token.
Hyperliquid Faces Third Major Disruption This Year In the wake of the incident, the Hyperliquid team took emergency measures to stabilize the market and close any remaining exposures. Shortly after, the platform paused its Arbitrum (ARB) bridge, although it continued processing deposits and withdrawals normally.
The community has expressed skepticism regarding the circumstances surrounding this incident, with many suggesting it may not have been a random liquidation.
Instead, some believe the event could resemble a deliberate stress test or an attack aimed at destabilizing Hyperliquid’s liquidity system. Some contend that the rapid loss of millions in such a short time frame seems too calculated to be merely coincidental.
This incident marks the third major market disruption on Hyperliquid in 2025, raising serious questions about the exchange’s approach to handling liquidity concentration and its systemic risk management practices, as noted by Hanzo in his analysis.
Following the manipulation, the POPCAT memecoin saw a steep decline of approximately 43%, dropping from $0.21 to $0.12, with total liquidations reaching around $63 million.
The decentralized exchange’s native token, HYPE, also declined significantly following the event. According to CoinGecko data, it is currently trading at $38.25, which is a 7% decrease on the weekly timeframe.
The daily chart shows HYPE’s price drop. Source: HYPEUSDT on TradingView.com Featured image from DALL-E, chart from TradingView.com
Key Takeaways How bad is the price manipulation problem in 2025? CertiK tracked 51 price manipulation incidents, resulting in $42 million in combined losses through 2025.
What happened with Popcat on Hyperliquid? An alleged whale orchestrated a 43% price crash on 12 November by pumping Popcat to $0.21 with fake buy walls across 19 wallets, then yanking orders to trigger $63 million in liquidations.
Price manipulation attacks have emerged as the fastest-growing threat vector in crypto in 2025. The Popcat meme coin crash serves as a recent, brutal example of coordinated market manipulation.
CertiK Alert released damning data this week showing 51 price manipulation incidents have drained $42 million from traders so far this year.
Source: CertiK The firm tracked 19 incidents in Q4 alone—nearly matching Q2’s peak of 20 incidents and confirming the upward trend that began in Q3 2024.
The Popcat scheme The Solana meme coin became ground zero on 12 November when an anonymous trader executed a pump-and-dump on Hyperliquid’s decentralized perpetuals exchange.
The setup: pull $3 million from OKX, split across 19 wallets, open $26-30 million in long positions at 5x leverage, then prop up a fake $20 million buy wall at $0.21.
The artificial support lured retail traders into taking long positions. Then the whale yanked the orders.
Popcat crashed 43% to $0.12 within hours, liquidating $63 million in positions, including one $21 million loss. Hyperliquid’s vault absorbed $4.9 million in bad debt while the attacker’s collateral vaporized.
Wider pattern of crypto price manipulation CertiK’s top five 2025 manipulation victims:
Resupply: $9.6M [June] OdinFun: $7M [August] Loopscale: $5.8M [April] Future Protocol: $4.6M [July] Typus Finance: $3.4M [October] These attacks exploit oracle vulnerabilities, thin liquidity, and leverage mechanics. Unlike phishing or code exploits, which drove $2.5 billion in losses during H1, manipulation requires only capital and coordination.
The DeFi dilemma Traders called Popcat “peak degen warfare,” exposing how meme coins and DEXs create perfect manipulation conditions.
Most lack circuit breakers or position limits that traditional exchanges use to prevent cascading liquidations.
The attacker lost their $3 million but triggered ten times that damage. Hyperliquid paused operations during the chaos, raising questions about decentralization when emergency controls activate.
The platform implemented tighter risk controls, but the tension remains. Can decentralized exchanges balance permissionless trading with protection against coordinated attacks?
The meme coins have had a rough week to say the least, as the broader market exhibited neutral to bearish cues. While many tokens are still suffering losses, others are close to a reversal.
BeInCrypto has analysed three such meme coins that the investors should watch as January nears its end.
Ponke (PONKE)PONKE ranked among the weakest performers this week after sliding 21% to trade near $0.0474. The meme coin remains above the $0.0454 support level, limiting further downside for now. Short-term price action reflects heavy selling, but stabilization suggests immediate capitulation has not occurred.
Despite the decline, PONKE continues to hold above its 50-day exponential moving average. This level often signals short-term trend strength. Maintaining support above the EMA reduces the probability of a deeper breakdown and keeps the possibility of a technical rebound intact.
Want more token insights like this? Sign up for Editor Harsh Notariya’s Daily Crypto Newsletter here.
PONKE Price Analysis. Source: TradingViewA recovery would require PONKE to reclaim the $0.0525 resistance level. Clearing that barrier could drive the price toward $0.0611, offsetting recent losses. Conversely, sustained bearish sentiment could force a drop below $0.0454, exposing PONKE to a decline toward $0.0402.
Popcat (POPCAT)POPCAT dropped 18.4% over the past week, ranking among weaker meme coin performers. The token currently trades above the $0.081 support level. Despite heavy selling, this zone has limited further downside, suggesting short-term stabilization as traders assess whether losses are nearing exhaustion.
Technical indicators point to potential exhaustion. The Money Flow Index sits near the oversold threshold at 20.0, signaling fading selling pressure. A move below this level often precedes relief rallies. If buyers step in, POPCAT could rebound toward $0.089, with $0.100 needed to recover recent losses.
POPCAT Price Analysis. Source: TradingViewDownside risk remains if sentiment fails to improve. Continued selling could force POPCAT below the $0.081 support. A breakdown would likely drag the price toward $0.077 or lower, invalidating the bullish reversal thesis and reinforcing bearish momentum in the near term.
Mog Coin (MOG)MOG price declined 17.8% over the past week and trades near $0.000000267 at the time of writing. Unlike other meme coins, MOG shows limited signs of stabilization. Price structure and momentum indicate further downside risk rather than an imminent reversal in current market conditions.
Selling pressure is still building, according to momentum indicators. The Money Flow Index stands at 37.1, well above the 20.0 oversold threshold that often precedes rebounds. This suggests the MOG price could continue falling, break $0.000000242 support, and slide toward the previously tested $0.000000206 level.
MOG Price Analysis. Source: TradingViewA shift in broader market sentiment could change the outlook. If bullish conditions strengthen, MOG may stabilize above $0.000000242. Holding that support could allow a rebound toward $0.000000317, invalidating the bearish thesis and signaling renewed speculative interest in the meme coin.
In brief Meme coins Pepe, Bonk, and Shiba Inu led a speculative charge, with double-digit gains, as Bitcoin pushed above $90,000. Macro factors like rate cuts could fuel a "risk-on" 2026, but some have warned meme coin rallies are poor signals due to low liquidity. Market sentiment remains split, with prediction market optimism at a 2026 high while the broader Crypto Fear & Greed Index stays in "Fear." Meme coins are surging amid renewed interest in the sector, as Bitcoin continues to grind higher for the start of the year.
Leading the charge are Bonk, Pepe, and Shiba Inu, posting 24-hour gains of over 20%, 14%, and 10%, respectively, according to CoinGecko data. On a weekly basis, however, Pepe leads with a 70% rally, followed by Bonk at 48% and Dogecoin at 22%.
The resurgence in crypto's riskier assets coincides with a stabilizing Bitcoin.
The top crypto has closed higher for four consecutive days, pushing past the pivotal $90,000 mark after several failed attempts in late 2025.
Bitcoin’s drive this time, however, is backed by a substantial uptick in the aggregated open interest, which has surged to $31.44 billion, a six-week high, according to CryptoQuant.
Sustained rate-cutting cycle, disinflation, and new U.S. access to strategic resources like Venezuelan oil as factors that could be coalescing to support risk assets, according to Derek Lim, head of research at crypto market-making firm Caladan.
“All the above when viewed in tandem may prelude to a shift towards a more risk-on sentiment in 2026,” Lim told Decrypt. “Perhaps the current price movements are attempting to price all these in.”
He urged caution, however, in interpreting the meme coin rally as a definitive signal.
“I will hesitate to read this as the market shifting into a more risk-on mode,” Lim said. “Meme coin pumps can be relatively easily manufactured by a multitude of factors, such as low liquidity, extremely low float, so it may not necessarily represent any larger shifts in momentum/attitudes with regard to the broader market.”
Retail sentiment mirrors that cautiously optimistic stance.
Users on prediction market Myriad—owned by Decrypt’s parent company, Dastan—now assign an 82% chance that Bitcoin hits $100,000 before $69,000, up from 62% at the start of the year.
The recovery is not limited to meme coins; other top altcoins, including Hyperliquid, Hedera, Aster, and XRP, have also surged by roughly 5% over 24 hours.
Still, the Crypto Fear & Greed Index suggests that, despite the hot streak in meme coins, the broader psychological recovery from the 2025 downturn is not yet complete.
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According to on-chain data, companies have piled into Bitcoin at a pace that now outstrips new supply. Corporate treasuries held by public and private firms rose from about 854,000 BTC to roughly 1.11 million BTC over the past six months, an increase of around 260,000 BTC — roughly 43,000 BTC per month.
This adds close to $25 billion in value to corporate balance sheets and points to a growing appetite among firms for holding the coin, on-chain analytics provider Glassnode disclosed, Tuesday.
Corporate Treasuries Swell A single firm dominates that pile. Strategy now controls the largest share of corporate Bitcoin, holding 687,410 BTC after a fresh buy earlier this month. The company disclosed it acquired 13,627 BTC between January 5 and January 11, its biggest purchase since last July. Reports have highlighted how this concentration means a few big buyers still shape the corporate treasury picture.
Over the past 6 months, Bitcoin treasuries held by public and private companies have grown from ~854K BTC to ~1.11M BTC.
That’s an increase of ~260K BTC, or roughly ~43K BTC per month, highlighting the steady expansion of corporate balance-sheet exposure to Bitcoin.… https://t.co/hHXjcSDDj4 pic.twitter.com/oluVGO2bGD
— glassnode (@glassnode) January 13, 2026
Smaller, but still significant corporate holders are visible on the list. MARA Holdings, for example, holds about 53,250 BTC. That makes it one of the largest corporate holders after Strategy, and shows that miners and mining firms are also choosing to keep a chunk of the coin they create.
ETF Demand Could Tighten Supply Exchange-traded funds are part of the story. Spot Bitcoin ETFs in the US pulled in more than $20 billion in flows during 2025, with some funds taking the largest share of those inflows. Analysts say ETF buying can soak up fresh supply and, if consistent, might remove available coins from the market for long periods. That dynamic has been flagged as one reason corporate accumulation could matter more now than in past cycles.
BTCUSD now trading at $94,942. Chart: TradingView Miners Are Producing Less Than Corporates Are Buying Over the same six months, miners are estimated to have created about 82,000 BTC. That means corporate buying has outpaced mining issuance by roughly three to one. In plain terms: more Bitcoin is being added to company balance sheets than is coming out of the ground, which tightens available supply if buyers continue to hold rather than sell.
Price Action And Macro Watch Bitcoin has been trading in a narrow range near $92,000 ahead of key US inflation figures, with the $90,000 level seen as a psychological marker for traders. Safe-haven interest has stayed firm amid geopolitical noise and questions about central bank policy, leaving prices supported but range-bound. Short-term moves will likely reflect both ETF flows and whether existing holders keep selling into demand.
Featured image from Unsplash, chart from TradingView
The probability that the U.S. takes control of Greenland this year has spiked on prediction markets as President Donald Trump intensifies push to annex the world's largest island.
Will Trump's Greenland Plans Succeed?Odds in favor of the contract titled "Will Trump acquire Greenland before 2027?" surged to 22% on Polymarket, up from 8% since the year began.
Over $14 million has been wagered on the bet, among the highest on the Polygon (CRYPTO: POL)-based platform currently.
Meanwhile, odds on Kalshi, a federally authorized betting platform, have been broadly unchanged from last week, currently at 46%.
Punters are also betting on Trump’s threats of tariffs against countries resisting his Greenland plans, with odds exceeding 30% for new duties on Denmark, Finland, and France starting next month.
Tensions Escalate Between the US and EUGreenland's leadership has consistently rejected Trump's attempts to gain control, with Prime Minister Jens-Frederik Nielsen stating that they would “choose” Denmark over the U.S.
EU ambassadors reached a broad agreement Sunday to dissuade Trump from imposing tariffs, while also drafting countermeasures in case the duties are imposed.
Member states are also considering the never-before-used Anti-Coercion Instrument, which could curb access to public tenders, investments, banking activity or trade in services where the U.S. holds a surplus, including digital services.
Industry and geopolitical analysts believe the plan to acquire Greenland, a semiautonomous territory within the Kingdom of Denmark, could cost the U.S. nearly $1 trillion over the next 20 years with no significant economic return.
Photo Courtesy: Andrey Muravin on Shutterstock.com
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The market for tokenized commodities has blown past $6B, mostly thanks to demand for gold-backed tokens in an uncertain economy. This trend shows a split market: money is flowing to both safe havens and high-risk, high-reward speculative plays. Maxi Doge ($MAXI) is tapping into a unique, high-energy trading culture to build its community with gamified competitions. Whale wallets are accumulating and the presale has pulled in over $4.5M, signaling strong early interest in the project. With Bitcoin trading sideways, a different kind of digital asset is quietly booming.
The market for tokenized commodities has surged past $6B in total value, according to recent industry data. This growth is predominantly fueled by gold-backed tokens like Tether Gold (XAUT) and Pax Gold (PAXG), which together command the lion’s share of this growing sector.
As gold itself tests new highs, investors are increasingly turning to its on-chain counterparts for exposure, seeking the stability of a millennia-old store of value combined with the efficiency of blockchain technology.
Why does this matter? It signals a profound shift in market psychology. In a climate of macroeconomic uncertainty and ranging crypto prices, capital is flowing toward assets with perceived safety and tangible value. Tokenized gold offers just that, the ability to hold a claim on physical gold without the custody headaches, settled on-chain with near-instant finality.
But that’s only half the story. While one cohort of investors hedges with digital gold, another is hunting for alpha at the opposite end of the risk spectrum. Those same market conditions also fuel an appetite for high-octane, speculative plays capable of delivering outsized returns. What most coverage misses is that these trends aren’t contradictory. In a market desperate for direction, they’re two sides of the same coin.
This environment has become the perfect breeding ground for a new class of meme tokens built not just on humor, but on a culture of aggressive market participation.
Enter Maxi Doge ($MAXI), an Ethereum-based meme token that embodies the high-leverage, ‘1000x’ trading mentality.
Read more about $MAXI here.
From Safe Havens to High-Leverage Culture Where tokenized gold offers stability, a new project channels the market’s raw, unfiltered energy. It’s a direct response to a market where retail traders often feel outgunned by whales.
Frankly, Maxi Doge ($MAXI) isn’t just another canine-themed coin. It’s a cultural statement built around strength, discipline, and the relentless grind of the bull market.
The project’s ecosystem is designed to foster a community of active traders. Its core features include holder-only trading competitions with leaderboards and rewards, creating a gamified environment for profit-and-loss hunters (a clever move, really). This transforms passive holding into active engagement.
Plus, the ‘Maxi Fund’ treasury is designated for securing liquidity, funding partnerships with futures platforms, and amplifying its viral, gym-bro marketing narrative.
The second-order effect is the creation of a self-reinforcing community. By building its identity around the ‘Lift, trade, repeat’ mantra, Maxi Doge taps into a powerful subculture that equates financial ambition with physical strength. Is it unconventional? Absolutely.
But in the attention economy of crypto, a unique and resonant narrative is often the difference between obscurity and viral adoption.
$MAXI is available here.
On-Chain Data Signals Early Strength And that narrative is translating into tangible results.
According to its official site, the Maxi Doge presale has already attracted significant capital, pulling in an impressive $4.59M with tokens priced at $0.0002803. That level of funding suggests the project’s high-energy message is resonating with a market segment hungry for the next big meme-driven rally. But can it last?
As with any meme coin, the real risk is sustaining momentum after the launch, a challenge that hinges entirely on community execution.
Digging deeper, on-chain data reveals that smart money is taking notice. Etherscan records show two whale wallets have scooped up a combined $628,000 in $MAXI tokens. The biggest buy was a single quarter-million-dollar ($314K) transaction on October 11, a clear signal of high conviction from at least one major player. For market observers, such movements are often a leading indicator of a project’s potential.
To further incentivize its community, the project incorporates a dynamic staking APY. Rewards are distributed automatically via smart contract from a dedicated 5% allocation pool, providing a yield-bearing component for holders. Looking ahead, the critical test for Maxi Doge will be its ability to integrate with trading platforms and deliver on its promise of gamified tournaments. That’s what will truly bring its high-leverage culture to life.
It’s a project to watch closely. Join the Maxi Doge presale and experience the next wave of community-driven crypto innovation.
Buy your $MAXI here.
This article is for informational purposes only and should not be considered financial advice. Cryptocurrency investments are inherently volatile and risky.
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Ripple has announced the Q4 date for Swell 2026, an event it calls its "biggest" yet. This is because, for the first time ever, Ripple is combining the Swell and XRPL Apex events into a single comprehensive experience for everyone, including institutional leaders, fintech innovators, developers and researchers building on the XRP Ledger.
Apex 2025 was a successful one that brought together over 800 attendees – developers, builders, investors and users from across the XRPL community globally.
Swell 2026: Call for Speakers is now open, and this is our biggest event yet!
For the first time, Swell + Apex unite in NYC, October 27-28, 2026: https://t.co/f5U4cdQpcE
— Ripple (@Ripple) April 14, 2026 A specific lineup for the event is yet to be made known, but one can gain a few insights as Ripple reveals its expectations for speaker submissions.
Ripple is currently accepting speaker submissions across three tracks: Institution, which covers institutional, product and policy; Ecosystem, covering developers, builders and community, which will delve into the latest features, capabilities and projects built on XRP Ledger; and Innovation, covering academia, research and technical, which will delve into research and technical discoveries at the forefront of blockchain innovation.
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Topics will range from capital markets and settlement, crypto infrastructure, crypto markets and ETFs, DeFi, interoperability, financial inclusion, funding and VC, payments, policy and regulation, privacy, security and compliance, stablecoin, tokenization, treasury and cash management, and quantum and XRP utility.
The Swell and Apex events hosted by Ripple will bring the global financial community together in New York City from Oct. 27 to 29, 2026.
Ripple secures partnership in KoreaRipple announced today a landmark strategic partnership with Kyobo Life Insurance, one of Korea’s largest and most established life insurers.
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This marks Ripple’s first collaboration with a leading insurance institution in Korea and represents a significant step in the development of institutional-grade digital asset infrastructure in the country to enable tokenized government bond transactions through Ripple Custody within a regulated institutional environment.
Kyobo Life and Ripple will assess the technical and regulatory feasibility of tokenized Treasury settlement in Korea’s financial ecosystem. Ripple will power Kyobo to explore stablecoin-based payment rails, enabling 24/7 transaction capability within a compliant, regulated framework.
Hollywood A-lister Matt Damon is slated to appear at the upcoming Ripple Swell conference. The much-anticipated event, which will take place in New York for the second year in a row, has been scheduled for Oct. 27–29.
The acclaimed actor and philanthropist will take the stage to discuss cross-border stablecoin payments and the global need for clean water, which has become one of the most pressing issues.
On top of being a Hollywood superstar, Damon is also the co-founder of the nonprofit Water.org alongside engineer Gary White.
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Damon Ripple Payments and the U.S. dollar-backed stablecoin RLUSD show real-life impact across emerging markets in Asia, Africa, and Latin America.
The "Get Blue" campaign Currently, more than two billion people worldwide have no access to safe water at home.
Water.org has launched the "Get Blue" campaign to address this issue. Apart from Ripple, the impressive list of its corporate foundational partners includes the likes of Amazon and Gap.
According to the U.S. Environmental Protection Agency, direct water consumption by U.S. data centers is projected to hit 73 billion gallons by 2028.
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The initiative will focus on using a portion of corporate sales and direct donations to Water.org, providing affordable financing for essential water utilities and scaling transactions (where RLUSD comes in handy).
"Fortune favors the brave" Damon is widely celebrated for a decades-long Hollywood career. He has starred in such acclaimed movies as "Good Will Hunting", "Saving Private Ryan,", and the blockbuster "Jason Bourne" franchise.
Among crypto enthusiasts, however, Damon is also known for his infamous October 2021 appearance in a Crypto.com commercial.
The polarizing ad featured Damon comparing crypto investors to historical pioneers with the "Fortune favors the brave" tagline, which has since become a meme.
The commercial premiered at the worst possible time (right on the cusp of a major crypto crash). Unsurprisingly, Damon had to deal with a lot of internet lampooning after this.
Damon’s appearance, which will certainly excite XRP fans, adds to a list of prominent global figures gracing the Ripple Swell stage. In October 2018, for instance, former U.S. President Bill Clinton delivered a high-profile keynote address at the Swell conference in San Francisco.
Ripple CTO Emeritus David Schwartz (@JoelKatz) used a June 17 post on X to put $XRP utility front and center ahead of Swell 2026, pointing to the growing number of ways developers and businesses are deploying the asset across finance and blockchain applications.
Payments, Tokenization, DeFi, and AI in Focus Schwartz highlighted $XRP use cases spanning payments, tokenization, decentralized finance, interoperability, and artificial intelligence ahead of Ripple Swell 2026. His remarks were framed as an invitation to the broader $XRP community, with Schwartz writing that "the best part of these events is always seeing the new ways people are using XRP and building on the XRP Ledger," and that he was looking forward to "diving into core use cases around payments, tokenization, interoperability, DeFi, AI, and whatever comes next."
Recent Ripple initiatives and broader ecosystem activity have expanded $XRP's presence in payments, treasury management, liquidity, and cross-chain applications. On the enterprise side, Ripple said its treasury platform now lets organizations hold, manage, and transact with $XRP and RLUSD inside existing workflows, with real-time valuation, transaction recording, and auditability for treasury teams. Ripple CEO Brad Garlinghouse has also described using AI in cash forecasting and real-time liquidity management for finance teams.
Independent voices in the ecosystem have reinforced the utility narrative. Panos Mekras, co-founder and CEO of Anodos Finance, said his company bought, held, and paid employees with $XRP since 2023, operating across the XRP Ledger, Solana, and Flare. Alexis Sirkia, chairman of Yellow Network, pointed to increased $XRP activity in payments, tokenization, liquidity provision, and settlement by institutions and developers.
Swell 2026: Ripple's Biggest Event Yet Schwartz's comments come as Ripple prepares to host what it describes as its most ambitious gathering to date. Ripple has described Swell 2026 as its largest Swell event yet, with more than 1,500 attendees, over 75 speakers, more than 50 sessions, and three stages in New York City. For the first time, it combines the Swell and Apex conferences into one unified experience across multiple programming tracks.
The speaker list includes Matt Damon, co-founder of Water.org; Tom Farley, chairman and CEO of Bullish; Brad Garlinghouse, CEO of Ripple; Billy Hult, CEO of Tradeweb; Monica Long, president of Ripple; and Schwartz himself. The event brings together financial leaders, fintech founders, developers, and researchers to explore the intersection of traditional finance and the onchain economy.
Sources:
Bitcoin.com News: Ripple's Schwartz Highlights XRP Use Cases Ahead of Largest-Ever Swell Event
Ripple: Swell 2026 Official Event Page
Bitcoin.com News: Ripple Prepares for Largest Swell Event Yet With Combined Apex Format
In major XRP news today, Hollywood actor and philanthropist Matt Damon will speak at Ripple Swell 2026 alongside Ripple CEO Brad Garlinghouse and CTO Emeritus David Schwartz.
This is expected to be the largest Ripple Swell to date, with a focus on topics including agentic finance, tradFi adoption, tokenization, cross-border payments, DeFi, and XRP Ledger utility.
Ripple Swell Confirms Matt Damon Among Brad Garlinghouse, David Schwartz as Speakers Matt Damon, co-founder of the nonprofit Water.org, is confirmed as a speaker at Ripple Swell 2026. He will share how the organization is using Ripple Payments and the RLUSD stablecoin to speed up cross-border payments for clean water projects.
Water.org has mobilized $7.7 billion and positively impacted 88 million lives across Asia, Africa, and Latin America. Ripple joined the “Get Blue” campaign to fight the global water crisis earlier this month. Matt Damon’s participation highlights major news for the XRP community.
Ripple CTO Emeritus David Schwartz also confirmed, saying, “I wouldn’t miss it” as this will be the largest Swell event yet. Amid the XRP Ledger upgrade news, he asked the community to bring the best ideas.
“The best part of these events is always seeing the new ways people are using XRP and building on the XRP Ledger. Looking forward to diving into core use cases around payments, tokenization, interoperability, DeFi, AI, and whatever comes next,” he added.
Ripple CEO Brad Garlinghouse is expected to speak on crypto regulation news, the company’s growth and new partnerships, along with XRP and RLUSD stablecoin adoption.
“10 years of Swell converging with real scale, institutional adoption, and Swell + Apex together for the first time this fall. We’ve been building toward this moment — see you in New York!”
Additional confirmed speakers include Ripple president Monica Long, Bullish CEO Tom Farley, and TradeWeb CEO Billy Hult amid traditional finance-crypto convergence.
And we’re back for year 10 (!)…@RippleSwell 2026 will be our biggest event ever, with main stage keynotes, multiple tracks (Institutional, Ecosystem, and Innovation), and much more.
An experience that’s both audacious and illuminating, taking place in the financial capital of… pic.twitter.com/bXoca93VfM
— Monica Long (@MonicaLongSF) June 18, 2026
Will XRP Price Rebound amid Positive News? XRP fell 4% further over the past 24 hours, with the price currently trading at $1.13. XRP dropped from a 24-hour high of $1.18 to $1.12 as it continued to trade below key moving averages and crypto options expiry.
Furthermore, trading volume has increased by 12% over the last 24 hours. This indicated investors moved to liquidated holdings after the hawkish Fed tone.
In the past 24 hours, XRP derivatives traders on Binance moved into a clear risk-off mode, while spot traders accumulated aggressively. Almost $41 million positions flushed to mark the largest short-term reset since April.
XRP Futures Open Interest Falls on Binance. Source: CryptoQuant However, CoinGlass data showed buying in the derivatives market in the last 4 hours. Amid recent XRP news of Matt Damon as speaker at Ripple Swell, total XRP futures open interest jumped 0.45% to $2.59 billion. XRP futures OI on CME fell 0.19%, but increased 0.23% and 1.13% on Binance and OKX, respectively.
Ripple CEO Brad Garlinghouse has stated that "a moment is real" for the crypto industry while announcing his participation in the much-hyped Swell conference.
"I've been in crypto long enough to know when a moment is real," Garlinghouse said in a public statement.
"This is one of them. 10 years of Swell converging with real scale, institutional adoption, and Swell + Apex together for the first time this fall. We've been building toward this moment — see you in New York!" he added.
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The "biggest Swell ever"Other top Ripple executives are also excited about the upcoming event, which will take place on Oct. 27-29 in New York.
Ripple President Monica Long has noted that the Swell conference will be Ripple's biggest event ever.
"And we’re back for year 10 (!)… Ripple Swell 2026 will be our biggest event ever, with main stage keynotes, multiple tracks (Institutional, Ecosystem, and Innovation), and much more," Long noted.
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David Schwartz, Ripple’s Chief Technology Officer Emeritus, also took note of the significance of the event, focusing heavily on the tangible utility and developer activity flourishing around Ripple's core technology.
"I hear this will be the largest Ripple Swell yet. I wouldn't miss it," Schwartz stated. "The best part of these events is always seeing the new ways people are using XRP and building on the XRP Ledger. Looking forward to diving into core use cases around payments, tokenization, interoperability, DeFi, AI, and whatever comes next. Bring your best ideas and meet me there, XRP community," he said.
From Hollywood to Wall StreetRipple Swell 2026 already boasts a star-studded speaker lineup. As reported by U.Today, it will include none other than Hollywood superstar and philanthropist Matt Damon, the co-founder of Water.org.
Damon will showcase how the non-profit is using Ripple Payments and Ripple's U.S. dollar-backed RLUSD stablecoin.
Tom Farley, the Chairman and CEO of crypto exchange Bullish and the former President of the New York Stock Exchange (NYSE), will also take part in the event.
Hollywood actor and Water(.)org co-founder Matt Damon is set to take the stage at Ripple Swell in New York this October, bringing together celebrity philanthropy and blockchain payments infrastructure at one of crypto's leading annual events.
The event runs from October 27 to 29. Ripple CTO Emeritus David Schwartz confirmed his attendance, describing it as the largest Swell event yet. Ripple CEO Brad Garlinghouse is also on the speaker roster, alongside Ripple President Monica Long.
How Water(.)org Uses Ripple Payments and RLUSDThe nonprofit was co-founded by actor Matt Damon and engineer Gary White, and uses small loans to help families pay for water and sanitation systems. At Swell, Damon will share how the organisation is using Ripple Payments and the RLUSD stablecoin to speed up cross-border payments for clean water projects.
Traditional cross-border transfers to microfinance partners in emerging markets pass through multiple correspondent banks, take days to settle, and incur a fee on each payment. Ripple routes RLUSD across blockchain rails in minutes, delivering a dollar-equivalent asset to recipient institutions without that overhead. That speed advantage matters most for smaller aid transactions, where transfer fees can eat a disproportionate share of each payment.
Ripple launched RLUSD as a stablecoin backed by US dollar deposits, short-term Treasuries, and cash equivalents. It operates on the XRP Ledger and Ethereum and supports payments, settlement, and other blockchain transactions.
The Get Blue Campaign and Water(.)org's ReachRipple has joined Water(.)org as the exclusive digital asset and payments partner for its Get Blue campaign, deploying its RLUSD stablecoin to accelerate funding for clean water access. Water(.)org launched the campaign at the World Economic Forum in Davos in January 2026, with a goal of reaching 200 million people with safe water by 2030.
Water(.)org has mobilised $7.7 billion and positively impacted 88 million lives across Asia, Africa, and Latin America. Founding partners for Get Blue include Gap, Amazon, Starbucks, and Ecolab.
Ripple previously used RLUSD in a drought insurance pilot for pastoral communities in Kenya and committed $25 million to education groups in the US, supporting DonorsChoose and Teach For America. The Water(.)org partnership extends that humanitarian track record further into global development finance.
Sources:
BeInCrypto: A Hollywood Star Is Joining Ripple's Stage
Crypto.news: Ripple Joins Matt Damon's Water.org Campaign With RLUSD
Yahoo Finance: Ripple Joins Matt Damon to Fight Global Water Crisis With RLUSD
Ripple has officially announced the list of its keynote speakers for its Ripple Swell 2026 event, which will take place from October 27 to October 29 at The Shed in Hudson Yards, New York City
This year’s event comes at a crucial time for XRP holders, with XRP down nearly 64% from recent highs.
What to Expect From Ripple Swell 2026For the first time, Ripple is merging its flagship Swell conference with the XRPL Apex developer summit, creating a single event expected to feature more than 75 speakers, three stages, and over 50 sessions.
This year’s Ripple Swell 2026 will focus on key topics shaping digital finance, including tokenization, stablecoins, payments, and regulation. The event is also expected to feature updates on RLUSD, Ripple’s stablecoin, and the growing real-world asset (RWA) tokenization market.
The event will also explore cross-border payments, XRP Ledger development, and institutional blockchain adoption.
Other sessions will focus on DeFi and interoperability, showing how different blockchain networks can work together.
Ripple is also dedicating time to AI and agentic finance, a growing trend in automated financial services. Finally, regulators and industry leaders will discuss global crypto policies, compliance, and the future regulatory.
Ripple has so far announced six keynote speakers for Swell 2026, with more expected to be added closer to the event.
Leading the lineup are Ripple CEO Brad Garlinghouse, President Monica Long, and CTO David Schwartz.
Garlinghouse recently described this year’s event as a major milestone for Ripple, saying:
“10 years of Swell converging with real scale, institutional adoption, and Swell + Apex together for the first time this fall.”
Meanwhile, Schwartz hinted at the scale of this year’s gathering, stating, “I hear this will be the largest Ripple Swell yet. I wouldn’t miss it.”
He added that one of the most exciting parts of Swell is seeing how developers and businesses are using XRP and building on the XRP Ledger.
Other notable speakers include,
Bullish CEO Tom FarleyTradeweb CEO Billy HultWater.org co-founder Matt DamonCan Ripple Swell 2026 Boost XRP Price?Many are wondering whether Ripple Swell 2026 could push XRP’s struggling price. Looking at the last year, Swell 2025, XRP initially rallied on expectations of major announcements.
But once the event ended, the token fell about 9%, dropping from nearly $2.40 to around $2.19 despite Ripple announcing a $500 million funding round, a $40 billion valuation, and new RLUSD integrations.
That means Swell alone may not be enough to drive a lasting rally.
However, if Ripple reveals major banking partnerships or XRP Ledger adoption updates, the event could help rebuild market confidence.
As of now, XRP is trading near $1.14.
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