MobTest – About all info Mobile
Categories
crypto market Dogecoin forex forex market forex news forex trading news forex Solana World News

$16.5 billion in Bitcoin options expire on Friday

This week’s $16.5 billion Bitcoin options expiry could see BTC price swing in either direction.

Bitcoin
BTC
$84,966
investors are preparing for the record-breaking $16.5 billion monthly options expiry on March 28. However, the actual market impact is expected to be more limited, as BTC’s drop below $90,000 caught investors off guard and invalidated many bullish positions.

This shift gives Bitcoin bears a crucial opportunity to escape a potential $3 billion loss, a factor that could significantly influence market dynamics in the coming weeks.

Currently, the total open interest for call (buy) options stands at $10.5 billion, while put (sell) options lag at $6 billion. However, $7.6 billion of these calls are set at $92,000 or higher, meaning Bitcoin would need a 6.4% gain from its current price to make them viable by the March 28 expiry. As a result, the advantage for bullish bets has significantly weakened.

Bitcoin bulls pray for a “decoupling” if QE restarts
Some analysts attribute Bitcoin’s weak performance to the ongoing global tariff war and US government spending cuts, which increase the risk of an economic recession. Traders worry about slower growth, particularly in the artificial intelligence sector, which had driven the S&P 500 to a record high on Feb. 19 before falling 7%.

Meanwhile, Bitcoin bulls remain hopeful for a decoupling from the stock market, despite the 40-day correlation staying above 70% since early March. Their optimism stems from the expansion of the monetary base by central banks and increased Bitcoin adoption by companies such as GameStop (GME), Rumble (RUM), Metaplanet (TYO:3350), and Semler Scientific (SMLR).

As the options expiry date nears, bulls and bears each have a strong incentive to influence Bitcoin’s spot price. However, while bullish investors aim for levels above $92,000, their optimism alone is not

enough to ensure BTC surpasses this mark. Deribit leads the options market with a 74% share, followed by the Chicago Mercantile Exchange (CME) at 8.5% and Binance at 8%.

Given the current market dynamics, Bitcoin bulls hold a strategic advantage heading into the monthly options expiry. For instance, if Bitcoin remains at $86,500 by 8:00 am UTC on March 28, only $2 billion worth of put (sell) options will be in play.

This situation incentivizes bears to drive Bitcoin below $84,000, which would increase the value of active put options to $2.6 billion.

 

Categories
crypto market Dogecoin forex forex market forex news forex trading news forex Solana World News

How low can the Bitcoin price go?

Bitcoin’s price is down 6.5% in two days, and validating a bear flag puts the BTC price at risk of a deeper correction.

Bitcoin
BTC
$85,026
price has declined by more than 6.5% over the last two days after rallying to $88,000 at the beginning of the week.

Data from Cointelegraph Markets Pro and TradingView shows that the price of Bitcoin dropped from a high of $87,500 on March 28 to an intra-day low of $81,900 on March 29.

Bitcoin’s price drop coincides with a marketwide drawdown fueled by uncertainties over Trump’s trade tariffs and poor economic data. The ensuing sell-off in stocks has left market participants wondering how much deeper the drawdown can go.

Bitcoin wipes out liquidity in tumble to $81,000
BTC continued mounting losses on March 29, down 3% over the last 24 hours to trade just above $82,000.

Key points:

BTC price fell as low as $81,983 on Bitstamp, wiping out all the gains from earlier this week.

This came as US inflation data came in hotter than expected.

The February US Personal Consumption Expenditures (PCE) Index reading showed inflation quickening — in contrast to the January print.

While the month-on-month and year-on-year PCE tally met market expectations of 0.3% and 2.5%, respectively, their core PCE equivalents were both 0.1% higher than anticipated.

The implementation of broad-scale US tariffs next week—the so-called Liberation Day on April 2—also compounded investor concerns across markets.

24-hour crypto market liquidations hit $338 million, per data from monitoring resource CoinGlass.

Bitcoin wiped out more than $165 million in long positions between March 28 and March 29.

Additional data from CoinGlass showed intensive bands of buyer interest within the $70,000-$80,000 range in the six-month timeframe.

This suggests that Bitcoin’s price might drop further to sweep the liquidity within this range before staging a sustained recovery.

In the short term, Bitcoin appears to have taken out “a lot of liquidity,” with a local bottom sitting within the $82,000 and $80,000 range, according to analyst Stockmoney Lizards.

With major short liquidation levels sitting above $88,000, the analyst said that Bitcoin could be experiencing a classic weekend correction with a possible reversal next week.

“Typical weekend dump with next week’s reversal? At least, this is a possible scenario.”

Bitcoin bear flag hints at $62,000
From a technical perspective, BTC’s price decline on March 29 is part of its prevailing bear flag pattern.

Key points:

A bear flag suggests a continuation of the bearish momentum, with sellers taking control.

A temporary consolidation (flag) formed near $88,000, indicating a failed breakout attempt.

Bitcoin broke below key support levels, including the lower boundary of the flag at $85,800 at the 200-day simple moving average (SMA).

This confirmed the bear flag breakdown, pointing to more losses.

The measured move target from the pattern suggests a potential decline toward $62,000, representing a 25% decline from the current level.

The relative strength index remains below the mid-line, reinforcing the bearish momentum.

Founder of MN Capital, Michael van de Poppe, argued that Bitcoin will likely some more downward momentum as the trend remains lower. He adds that the price could retest the lows at $76,600 “before going back upward.”

According to macroeconomic market analyst Capital Flows, however, Bitcoin could correct to the $72,000-$75,000 region if liquidity conditions remain unchanged.

Meanwhile, veteran trader Peter Brandt believes Bitcoin is on a path to $65,635 after confirming a “bear wedge” pattern.

Categories
crypto market Dogecoin forex forex market forex news forex trading news forex Solana World News

Bitcoin price drops 3% on hot US PCE data as analyst says $84K must hold

Bitcoin faces renewed inflation pressure as US PCE data beats expectations — can BTC price action maintain crucial support to avoid another trip to multimonth lows?

Bitcoin
BTC
$84,987
sought a local bottom on March 28 while US inflation data came in higher than expected.

Bitcoin wobbles as PCE comes in hot
Data from Cointelegraph Markets Pro and TradingView showed BTC/USD heading to $85,500 at the Wall Street open before reversing.

Down over 3% on the day, the pair saw lows under $84,500 on Bitstamp, marking its lowest levels since March 23.

The February print of the US Personal Consumption Expenditures (PCE) Index subsequently showed inflation quickening — in contrast to the result from a month prior.

While the month-on-month and year-on-year PCE tally conformed to market forecasts at 0.3% and 2.5%, respectively, their core PCE equivalents were both 0.1% higher than anticipated.

“Core inflation is back on the rise,” trading resource The Kobeissi Letter concluded in part of a response on X, noting that the January numbers had also been revised higher.

Kobeissi argued that the current macroeconomic trajectory forms “the perfect recipe for stagflation in 2025.”

“March inflation data will be even more telling as the trade war rages on,” it wrote.

“PCE data coming up so it’s going to be a volatile day in the markets I reckon,” popular trader Daan Crypto Trades thus wrote in part of his own X reaction.

Others maintained doubts over broader crypto market strength, agreeing that Bitcoin was not yet out of the woods despite holding above $80,000 for several weeks.

“Trend remains to be upwards for $BTC, but it starts to look slightly less good,” trader, analyst and entrepreneur Michaël van de Poppe told X followers on the day.

“It’s shaking. Drop sub $84K and I think we’ll see a test at $78-80K and perhaps lower before we’ll bounce back up.”

Fellow trader TheKingfisher likewise saw little chance of a full bullish comeback on short timeframes.

“BTC While the short term price action may suggest a localized squeeze, the broader outlook doesn’t yet support the narrative of a sustained bull run,” he summarized.

“With volatility continuing to decline, current conditions appear more in line with a typical market cooldown. We could be approaching a seasonal reset, potentially front-running the familiar ‘sell in May and go away’ dynamic.”

Categories
crypto market Dogecoin forex forex market forex news forex trading news forex Solana World News

Bitcoin could hit $90,000 amid easing inflation concerns

Investor sentiment hinges on the FOMC meeting and Fed Chair Powell’s signals, which may sway Bitcoin’s next price move, according to crypto analysts.

Bitcoin may stage a recovery above the key $90,000 psychological mark amid easing monetary inflation concerns in the world’s largest economy.

Bitcoin’s
BTC
$84,376
over-two-month downtrend has raised numerous alarms that the current Bitcoin bull cycle may be over, defying the theory of the four-year market cycle.

Despite widespread investor concerns, Bitcoin may be on track to a recovery above $90,000 due to easing inflation concerns in the United States, according to Markus Thielen, CEO of 10x Research.

“We can see some counter-trend rally as prices are oversold, and there is a good chance that the Fed is mildly dovish,” Thielen told Cointelegraph, adding:

“This is not a major bullish development, rather some fine-tuning from the policymakers. We think BTC will be in a broader consolidation range, but we could trade back towards $90,000.”

Investor confidence may also be improved by Federal Reserve Chair Jerome Powell’s comments indicating that the Fed will “remain on hold amid rising uncertainty among households and businesses,” wrote 10x Research in a March 17 X post, adding:

“Powell also expressed doubts about the sustained inflationary impact of Trump’s tariffs, referencing the 2019 scenario where tariff-related inflation was temporary, and the Fed eventually cut rates three times.”
Meanwhile, investors are eagerly awaiting today’s Federal Open Market Committee (FOMC) meeting for cues on the Fed’s monetary policy for the rest of 2025, a development that may impact investor appetite for risk assets such as Bitcoin.

FOMC meeting crucial for BTC’s trajectory: Analyst
Traders and investors will be watching for any hints about the ending of the Fed’s quantitative easing (QT) program, “a move that could boost liquidity and risk assets,”

according to Iliya Kalchev, dispatch analyst at Nexo digital asset investment platform.

“The upcoming Fed decision could be a major catalyst for further movements,” the analyst told Cointelegraph, adding:

“If Chair Powell spreads his dovish wings, Bitcoin could take flight on renewed bullish momentum.”
“However, persistent inflation concerns or a reaffirmation of tight financial conditions, such as elevated interest rates or continued liquidity tightening, could limit upside potential,” added the analyst.

Markets are currently pricing in a 99% chance that the Fed will keep interest rates steady, according to the latest estimates of the CME Group’s FedWatch tool.

Still, investors have slashed their exposure to US equities by the most on record by 40 percentage points between February and March, according to Bank of America’s latest survey, raising concerns that recession fears may hurt Bitcoin’s price action.

Categories
crypto market Dogecoin forex forex market forex news forex trading news forex Solana World News

Web3 companies can combat cryptocurrency scams before they happen.

A new alliance in the Web3 space seeks to help businesses stay ahead of crypto scams and elevate trust in the blockchain realm.

Web3 continues to build a global audience for decentralized finance (DeFi), non-fungible tokens (NFTs) and cryptocurrency exchanges. However, as the blockchain ecosystem grows, so do the associated risks.

Unlike traditional financial institutions, Web3 lacks a centralized regulatory body, placing the responsibility to safeguard their assets on users and service providers. In a decentralized environment, a single wrong click could lead to assets being irreversibly transferred to a fraudulent wallet, trapping users in a malicious chain of transactions.

This environment has given rise to various scams and illegal schemes, including phishing attacks, hidden withdrawal mechanisms and crypto money mule operations, in which unsuspecting individuals transfer stolen cryptocurrency for criminals.

A report from Chainalysis’ “Crypto Crime Report 2025” underscores the scale of these vulnerabilities, revealing that illicit transaction volume reached a staggering $51 billion in the past year.

A perfect storm for vulnerabilities
User awareness is one of the most pressing challenges. Even seasoned crypto enthusiasts can be caught off-guard by lookalike websites or tokens with hidden fees. The complexity of smart contract analysis and the speed of cryptocurrency transactions leave little room for error. This gap in user knowledge is a significant factor behind rising crypto crime rates.

To compound the issue, DeFi platforms are increasingly implementing compliance measures retroactively. This regulatory shift — once considered incompatible with the decentralized ethos — has forced many DeFi participants to rethink their strategies for managing and preventing malicious transactions.

The businesses imperative in Web3 security
While users must practice caution, businesses also hold a vital responsibility. Most people lack the tools to dissect smart contracts or assess the credibility of wallet addresses. As a result, Web3 service providers must integrate security measures that protect users without stifling the industry’s open nature. Implementing automated risk analysis and real-time transaction monitoring has become essential for companies aiming to build trust, prevent fraud and uphold the ecosystem’s integrity.

Platforms in the Web3 space can significantly reduce the incidence of scams by verifying contract legitimacy, assessing transaction histories and alerting users to potentially dangerous activities. In short, security-conscious businesses are not only doing their users a favor — they are strengthening the entire decentralized ecosystem.

Key players join forces for safer transactions
A new partnership stands as an ideal example of how to level up user protection. Crypto trading platform Changelly has taken a proactive business approach by partnering with Web3 Antivirus, an ecosystem of security solutions tailored to individual and enterprise needs.

Changelly enables users to swap over 1,000 tokens seamlessly without lengthy registration processes and complex procedures. While speed and convenience are critical, so is security.

In this collaboration, Changelly integrates Web3 Antivirus’s risk analysis capabilities directly into their platform and mobile app to help users avoid malicious interactions and ensure the safety of their transactions. The collaboration focuses on three main objectives:

Real-time address verification – Changelly uses Web3 Antivirus to verify every wallet involved in a transaction on the platform or via the app.
Risk alerts for users – When risks are identified, Web3 Antivirus immediately sends alerts. Changelly displays these alerts directly within their interface.
Filtering suspicious transactions – Web3 Antivirus blocks interactions involving addresses tied to unlawful activities, preserving the integrity of Changelly’s ecosystem and safeguarding users from malicious counterparts.
Keeping users out of harm’s way
Users are constantly facing the risk of unknowingly transferring funds to suspicious wallets. However, not all of them manage to stop in time, mostly due to the lack of proper tools. While this puts user assets in danger, it also exposes platforms to malicious interactions.

Categories
crypto market Dogecoin forex forex market forex news forex trading news forex Solana World News

‘Buy crypto’ and ‘Solana’ search volumes surge amid TRUMP meme frenzy

Many crypto influencers and financial analysts have characterized the TRUMP memecoin launch as a new era for capital formation.

Google search volumes for the terms “buy crypto” and “buy Solana”
SOL
$263.34
have surged amid the Official Trump (TRUMP) memecoin frenzy,

as the buzz generated from the President-elect’s Solana-based meme token pulls in non-crypto natives.

According to Google Trends, which ranks search volume on a scale of 0-100, with 100 being the highest search volume, both terms have surged to 100.

Additionally, search volumes for the terms “Coinbase” and “crypto app” also surged to 100 amid the speculative hype.

The launch of the TRUMP memecoin by the incoming president of the United States and the ensuing

meteoric price rally sent shockwaves through the crypto world and garnered a range of reactions from market participants.

President Trump’s memecoin skyrockets and captures headlines
Official Trump launched to initial skepticism from traders,

who questioned the authenticity of the memecoin due to the presence of several knock-off Trump-themed tokens.

“My NEW Official Trump Meme is HERE! It is time to celebrate everything we stand for: WINNING! Join my very special Trump Community. GET YOUR TRUMP NOW,” the president-elect wrote on X.

Traders questioned whether the message was the result of a social media hack.

However, members of the Trump team later confirmed the authenticity of the memecoin — sending the token’s price soaring.

According to data from CoinMarketCap, TRUMP has a fully diluted value of approximately $67 billion and is currently trading at around $67 per token at the time of this writing.

The memecoin has a maximum supply of roughly 1 billion tokens, with 200 million tokens already in circulation.

TRUMP’s historic price rally also caused a corresponding rally in Solana’s native asset, SOL — taking the altcoin to new all-time highs of $270 per coin.

Market analyst and co-founder of the BitMEX exchange Arthur Hayes is targeting a fully diluted value of $100 billion for the token by the time of the Trump inauguration on Monday.

Hayes added that memecoins theoretically have the potential to bring political accountability onchain and announced he will release an essay exploring the topic.

Categories
crypto market Dogecoin forex forex market forex news forex trading news forex Solana World News

Here’s what happened in crypto today?

Need to know what happened in crypto today?

Here is the latest news on daily trends and events impacting Bitcoin price, blockchain, DeFi, NFTs, Web3 and crypto regulation.

Today in crypto, Donald Trump’s memecoin sank after wife Melania Trump launched her own memecoin,

Google search volumes for crypto terms have surged and insider trading allegations have hit the US President-elect’s memecoin.

Melania Trump memecoin launch sinks husband’s token
Donald Trump’s self-titled memecoin Official Trump (TRUMP) dropped nearly 40% after his wife

Melania launched her own self-named Melania Meme (MELANIA) token.

Mrs Trump first promoted her token in a Jan. 19 X post that her husband also shared.

It quickly attracted attention, and in just under four hours after launching, it reached a peak market cap of over $13 billion but has since fallen to around $10.5 billion.

Meanwhile, TRUMP hit a peak valuation of $14.92 billion just as MELANIA launched, which then dropped to around $7.8 billion over the next two and a half hours.

TRUMP nearly halved in price over that time, dropping from a high of $74.6 to under $40 over that same time, but has since recovered to over $61 in early trading on Jan. 20.

Meanwhile, the Donald Trump-backed World Liberty Financial crypto platform completed the initial sale for 20% of its 100 billion token supply and is selling an additional 5 billion tokens while hiking the price from 1.5 cents to 5 cents each.

Google search volume for crypto-related terms spikes amid TRUMP rally

Google search volumes for crypto-related terms surged amid a memecoin frenzy driven by the launch of United States President-elect Donald Trump’s Official TRUMP memecoin.

Out of a scale of 100, with 100 being the highest search volume, both terms surged to 100 on Jan. 19.

The President-elect of the United States will assume office on January 20, 2025,

with many crypto industry executives expecting a friendlier regulatory climate under the incoming administration.

Many analysts and crypto industry executives view Trump’s memecoin launch as a signal that the crypto industry will reach new heights under the incoming President.

Others have characterized the memecoin launch as a political “grift” that will likely plummet in value, following the trajectory of many other celebrity memecoins.

Insider trading allegations surface as TRUMP memecoin floods Solana DEXs
Suspicious trading activity has emerged around US President-elect Donald Trump’s Solana-based Official Trump (TRUMP) memecoin as its market cap soared to $42 billion, drawing a frenzy of retail investors.

On Jan. 18, Bubblemaps, an onchain analytics firm, investigated a crypto wallet funded with $1 million four hours before the TRUMP token’s launch.

Onchain data reveals that the wallet purchased $5.9 million worth of TRUMP tokens in the first minute of its launch and later sold $20 million while retaining $96 million in tokens.

TRUMP tokens were then routed through a wallet and distributed to 10 other wallets, now actively selling on Solana decentralized exchanges (DEXs).

This pattern of trade has raised concerns about potential market manipulation as the TRUMP memecoin continues to dominate headlines.

Preetam Rao, CEO of QuillAudits, a Web3 security company, expressed concerns about the TRUMP token’s allocation structure and purpose.

“Eighty percent of the supply is locked for CIC Digital, a company owned by the Donald Trump Revocable Trust. This is the same entity that launched Trump NFT Trading Cards three years ago.

The website says it’s ‘not an investment but a show of support,’” Rao said.

Rao noted that the top 10 holders own 89.06% of the supply, and there’s no clarity on the liquidity pool burn status. “Interestingly, the token was launched in an Asian morning time zone. It feels like this is just a way for Trump to make money,” he said.

He told Cointelegraph:

“We can see some insider traders involved, but I feel if the US government is supporting projects to set a roadmap for innovation in the country. Maybe it’s a rug pull, but it lays the foundation for innovation”

Categories
crypto market Dogecoin forex forex market forex news forex trading news forex Solana World News

Trumps accused of greed, grifting with back-to-back memecoin launches

The Donald and Melania Trump-backed memecoins that launched over the weekend have amassed a combined value of over $15 billion.

Donald Trump and his team have been accused of running a “pump and dump scheme”

after back-to-back memecoin launches added billions of dollars to the net worths of the incoming US president and first lady.

Just a day after Trump’s self-branded Official Trump (TRUMP) token launched and soared to a $15 billion market cap,

Trump’s wife Melania launched a self-titled memecoin of her own — which led commentators to accuse the family of unseemly behavior.

“You were right if you thought the smashing success of $TRUMP would make Trump greedy,”

Bianco Research president Jim Bianco said on Jan. 19, following the launch of Mrs. Trump’s token.

“He tried to double down with a $MELANIA, but the market thinks it is a form of dilution and assumes/fears that Trump has tons of other coins in the wings to come.”

The TRUMP token fell 38% in the hours after his wife’s token launched.

MELANIA hit a peak value of over $13 billion four hours after its Jan. 19 launch, which has since nearly halved to $7.3 billion.

“We are witnessing the largest unforced error ever made before a Presidential inauguration…unbelievable,”

Phinance Technologies founder Edward Dowd said on X in response to TRUMP’s price fall.

Categories
crypto market Dogecoin forex forex market forex news forex trading news forex Solana World News

Crypto Biz: Trump’s arrival marks a pivotal shift for digital assets

In typically Trump style, the Jan. 20 presidential inauguration was marked by excitement, concern and outright confusion from the crypto faithful.

US President Donald Trump’s inaugural address on Jan. 20 didn’t mention cryptocurrency or Bitcoin, but that doesn’t mean there aren’t big things in store for the sector this year.

Coinbase CEO Brian Armstrong said the Trump administration will place renewed emphasis on sensible stablecoin regulations. Bank of America CEO Brian Moynihan said financial institutions are eying cryptocurrency payment opportunities under the new regime.

While Trump’s silence on crypto also extended to executive orders and his list of “America First Priorities,” the sector was arguably the week’s biggest news story.

Even before Trump took office, his name was plastered on a new memecoin that reached $15 billion in value in less than 48 hours.

This week’s Crypto Biz explores Trump’s wild first few days in office, recent crypto purchases from World Liberty Financial and a new AI venture that could cement America’s leadership role in artificial intelligence.

TRUMP memecoin hits top 15 in 48 hours
On Jan. 17, Trump’s official memecoin launched on the Solana blockchain, triggering a flurry of activity as traders scrambled to capitalize on the opportunity. In just 48 hours, the TRUMP token became the 15th-largest cryptocurrency in the world.

At its height, TRUMP was valued at more than $73. It has since plunged to below $40.

The launch of TRUMP pushed new Solana addresses to an all-time high, according to Glassnode data tracked by custody platform Copper.co.

For his part, Trump apparently didn’t know much about the project. “I don’t know where it is. I don’t know much about it other than I launched it, other than it was very successful,” Trump said in response to a reporter’s question.

Shortly after the launch of TRUMP, First Lady Melania Trump minted her own memecoin, which attracted about 500,000 users within hours.

Trump-backed World Liberty Financial gobbles up ETH, other cryptos
The Trump-backed crypto venture World Liberty Financial scooped up $48 million worth of Ether
ETH
$3,304
this week, signaling its intention to be active in the crypto market and, possibly, the Ethereum network. The purchase triggered a spike in Ether’s price and led to a flood of Google searches for the word “Ethereum.”

While World Liberty didn’t disclose the motivation behind its purchase, Trump’s son Eric hinted that big plans are in store.

“Wait until you see what they do tomorrow,” Eric Trump wrote on Jan. 20, referring to World Liberty Financial. However, so far, no plans have been announced.

US asset managers file for memecoin ETFs
The Trump memecoin frenzy may have prompted US asset managers Osprey Funds and Rex Shares to submit applications for new crypto exchange-traded funds (ETFs).

According to Jan. 21 filings, the asset managers are seeking approval to launch ETFs for TRUMP, Dogecoin
DOGE
$0.35
and Boonk
BONK
$0.00002998
.

Memecoin-based ETFs would have seemed highly unlikely when Gary Gensler headed the US Securities and Exchange Commission (SEC). Now, with Gensler relegated to the “waste bin of Washington,” according to GOP Representative Tom Emmer, asset managers are anticipating a green light from regulators.

Crypto ETFs have become a massive business, led by the resounding success of spot Bitcoin funds. As Bitwise chief investment officer Matt Hougan noted, Bitcoin was the most successful US ETF launch of all time.

Trump launches $500B infrastructure venture
One day after his inauguration, President Trump announced a $500 billion AI infrastructure investment called Stargate, with plans to build artificial intelligence data centers across the United States.

Stargate won’t be funded by government handouts but will instead be led by equity investors OpenAI, SoftBank and Oracle. SoftBank CEO Masayoshi Son said $100 billion would be invested immediately.

For Trump, Stargate could create hundreds of thousands of American jobs while ensuring that the future of AI innovation stays within US borders.

“This project will not only support the re-industrialization of the United States but also provide a strategic capability to protect the national security of America and its allies,” OpenAI said.

Trump singled out China as a major “competitor” in the AI race, which is partly why Stargate was established.

“China is a competitor, others are competitors. We want it to be in this country, and we’re making it available,” Trump said.

Crypto Biz is your weekly pulse on the business behind blockchain and crypto, delivered directly to your inbox every Thursday.

Categories
crypto market Dogecoin forex forex market forex news forex trading news forex Solana World News

Andreessen Horowitz to close UK office to focus on US crypto efforts

The London building, opened in 2023 while UK Prime Minister Rishi Sunak was in office, will be shuttered in favor of focusing on the venture capital firm’s US operations.

Venture capital firm Andreessen Horowitz will be pulling back its operations in the UK in response to US President Donald Trump’s “strong policy momentum” on crypto.

In a Jan. 24 X post, Anthony Albanese, chief operating officer of Andreessen Horowitz’s crypto arm, said the firm had been encouraged by

“enthusiasm for crypto building and adoption” in the UK but still planned to close its office. According to Albanese, the venture capital company intended to focus its efforts on the US market based on Trump’s actions during his first week in office.

“This doesn’t change our confidence in the UK’s growing role in crypto and blockchain,” said the a16z Crypto chief operating officer.

“We will continue to invest in great entrepreneurs no matter where they are in the world, including the UK. We also remain ready to help the UK with its ongoing crypto efforts.”

Under Prime Minister Keir Starmer, the UK government has announced plans to introduce a comprehensive crypto regulation framework by 2026.

The PM said in January that the government also intended to adopt a 50-point artificial intelligence action plan as part of a strategy to help drive economic growth.

Crypto policy in US vs. UK
Since taking office on Jan. 20 in the US, Trump has signed an executive order aimed at establishing a working group to explore regulations around stablecoins and a strategic crypto reserve.

The US Securities and Exchange Commission — now down to three commissioners after the departure of former Chair Gary Gensler — said it would form a crypto task force for developing a crypto market framework.

Marc Andreessen, the co-founder of the venture capital firm bearing his name, contributed more than $5 million to US political action committees (PACs) as part of Trump’s 2024 presidential race and $22

million to the Fairshake PAC for its efforts to help elect “pro-crypto” congressional candidates.

He previously described himself as an “unpaid intern” for Tesla CEO Elon Musk’s government efficiency committee under Trump, which is already facing lawsuits following the Jan. 20 inauguration.