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Bitcoin (BTC) was treading water just below $85,000 late Thursday as tensions between U.S. President Donald Trump and Federal Reserve Chair Jerome Powell added another layer of uncertainty for investors.Markets dipped on Wednesday after hawkish comments from Powell, who criticized Trump’s tariffs policy, saying that it would likely result in a slowing economy and rising prices — what economists call “stagflation." In his remarks, Powell made clear his larger focus for now would be on prices, suggesting tighter Fed policy than otherwise thought.Trump — who nominated the former investment banker and lawyer as Fed chair during his first term (Powell was given a second four-year term by President Biden) — has expressed his displeasure with Powell since retaking the White...

Kyrgyzstan President Sadyr Japarov took his country a step closer to issuing its own central bank digital currency Thursday, signing legislation that gives the "digital som" legal status.The central Asian country is still deciding whether or not to issue a CBDC, but Thursday's amendments to the Constitutional Law of the Kyrgyz Republic ensures that the digital som will be treated as legal tender if the central bank goes ahead with issuing a CBDC."The purpose of the Constitutional Law is to launch a pilot project of a prototype of a national digital currency, the 'digital som,' as well as to create a legal basis and its status," a statement on the president's site said.Under the new provisions, the National Bank of...

Global economic tensions and trade policy uncertainties continue to create volatility in the crypto market, with SOL navigating these challenges better than many alternatives. Solana token's price rose more than 4% on Thursday, while the broader market gauge, CoinDesk 20, rose about 3%. The $125-$127 range for SOL has emerged as a critical support zone that successfully rejected multiple downside attempts, while the $133.50-$133.60 area represents significant resistance, according to CoinDesk Research's technical analysis model. Blockchain data shows over 32 million SOL (more than 5% of the total supply) accumulated at the $129.79 level, establishing it as a crucial pivot point for future price action.Technical Analysis HighlightsSOL established a well-defined support zone between $125-127, which successfully rejected multiple downside attempts.The...

Richard Kim, the founder of crypto casino Zero Edge, was arrested on Tuesday following allegations that he had gambled away investors' funds.According to an FBI complaint filed on Tuesday in the Southern District of New York, Kim "fraudulently induced investors to invest in Zero Edge, a cryptocurrency technology company he founded, and then misappropriated millions of dollars in those investors’ funds."The FBI said Kim lost "nearly all" of the $7 million he raised from investors and charged him with securities fraud and wire fraud. According to court records, Kim posted a secured bond of $250,000 and put up $100,000 in "cash or real property" to secure it.CoinDesk was first to report on the Zero Edge incident in July of last...

In today’s crypto for advisors, Todd Bendell from Amphibian Capital breaks down bitcoin yield products as a strategy to grow bitcoin holdings beyond price appreciation.Then, Rich Rines, an initial Core DAO developer, provides guidance to Bitcoin developers in Ask an Expert.Exclusive event alert for financial advisors: Join CoinDesk for Wealth Management Day on May 15th at Consensus Toronto. Registered wealth advisors are provided with their own day of networking and learning where they will acquire timely and actionable information about digital assets. Approved advisors receive a complimentary 3-day Platinum Pass ($1,750 value) to Consensus. Apply today.– Sarah MortonYou’re reading Crypto for Advisors, CoinDesk’s weekly newsletter that unpacks digital assets for financial advisors. Subscribe here to get it every Thursday.The Next...