Trump Says Crypto ‘Won The Race’

At CoinDesk’s Consensus event in Miami, Trump stated that JPMorgan went from calling Bitcoin a “joke asset” to allowing institutional clients to use it as collateral for loans in just 18 months.

“It’s all gonna become digitized, and the banks have fought like hell. They kept that from happening, and we broke the banks,” he added. “We’ve won this race.”

Trump said that institutional cryptocurrency adoption is just getting started, and the speed of growth over the next couple of years would be “monumental.”

JPMorgan didn’t immediately return Benzinga’s request for comment.

Trump’s Firm Reports Second Straight Quarterly Loss

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Sen. Elizabeth Warren (D-Mass.) reiterated on Wednesday her misgivings over suspected insider trading in bets tied to U.S. military strikes on Iran.

Warren Raises Alarm Over Iran Bets Again

Warren, citing an April report by The Guardian, pointed to traders placing “perfectly-timed” bets on U.S. strikes on Iran in February and netting millions.

“Was that just luck? Looks like insider trading to me,” the senior lawmaker said.

Iran Bets Under Scanner

Blockchain analysis revealed earlier that six suspected insider accounts made $1.2 million at the exact time of the U.S. strikes on Iran.

Later, newly created anonymous accounts booked over $480,000 in profits by betting on a ceasefire…

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Leading cryptocurrencies took a breather on Wednesday, while stocks closed at new records as investors weighed the report of a potential U.S.-Iran deal to end the war.

Crypto Market Cools Down

Bitcoin consolidated in the range between $80,800 and $82,800, while Ethereum retreated to the $2,300 region after pushing past $2,400 the day before.

Over $500 million was liquidated in the past 24 hours, with the majority of that in short positions, according to Coinglass data.

Notably, open interest in Bitcoin futures fell by nearly 4% over the last 24 hours. A falling open interest with a sideways price action typically indicates the market is consolidating or preparing for a trend reversal. 

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XRP At Triangle Apex With Shorts Getting Squeezed

XRP is grinding higher at $1.4268 pressing against the apex of a symmetrical triangle that has been compressing since February’s $1.13 lows. Volume surged 27.50% to $3.94 billion as serious capital rotates in.

Open Interest sits at $2.61 billion while the Binance Long/Short ratio reads 2.2637, meaning longs outnumber shorts significantly across both retail and top trader accounts.

The 24-hour liquidation data shows $2.96 million shorts liquidated versus $1.61 million longs. Shorts are getting squeezed as price pushes higher, building a bullish liquidation cascade quietly.

Supertrend at $1.3150 and SAR at $1.3471 both sit comfortably below…

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Here are the earnings estimates, what analysts are saying ahead of the report and the key items to watch.

• Coinbase Global stock is showing downward pressure. Where is COIN stock headed?

Coinbase Q1 Earnings Estimates

Analysts expect Coinbase to report first-quarter revenue of $1.50 billion, down from $2.03 billion in last year’s first quarter, according to data from Benzinga Pro.

The company has missed analyst estimates for revenue in four of the last six quarters, while beating estimates in six of the last 10 quarters overall.

Analysts expect Coinbase to report 26 cents per share in earnings for the first quarter, down from $1.94 per share in last year’s first quarter.

The company…

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Galaxy Digital CEO Mike Novogratz put 70% odds on the CLARITY Act passing and said Bitcoin (CRYPTO: BTC) needs to break $84,000 to trigger a move to $100,000.

CLARITY Act Momentum Building

Novogratz explained that Republicans need to get the bill done because they campaigned on it. Sen. Thom Tillis (R-SC) was holding things up around banking issues and Trump ethics provisions, but appears ready to let those go to committee.

“There’s still some work to do on the Democratic side,” Novogratz noted. He plans to fly to Washington next week to meet with senators and make the case that America needs the legislation.

Novogratz framed the CLARITY Act as essential for selling American brands…

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XRP (CRYPTO: XRP) is up 5% in a week, and traders point to strengthening momentum and a possible larger move ahead.

Momentum Signals Strength

Trader Cryptoinsightuk said XRP is forming a strong base around $1.40 on the weekly chart, a level viewed as highly bullish.

Momentum indicators are supporting this outlook, with both the Relative Strength Index (RSI) and Moving Average Convergence Divergence showing bullish crossovers.

The setup suggests a reversal from previously weak momentum, with price stabilizing at a former resistance level that is now acting as support.

This shift could lead to a sharp …

Full story available on Benzinga.com

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Dogwifhat (CRYPTO: WIF) has surged more than 25% after South Korea’s largest crypto exchange Upbit announced a token listing.

Upbit Opens WIF To Korean Market

Upbit revealed plans to list dogwifhat on May 6, sparking massive reactions within the crypto community. 

The token is now available for trading in KRW, BTC, and USDT pairs, opening it to a massive new audience in one of the world’s most active crypto markets.

Users can start trading WIF at 16:00 KST today.

The Solana (CRYPTO: SOL)-based meme coin inspired by a viral image of a Shiba Inu wearing a pink knitted hat is now accessible to millions of Korean traders.

Upbit pointed out that deposits and withdrawals are supported only on…

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