Coindesk

President Trump's administration wants a weaker dollar and that's bullish for bitcoin (BTC), asset manager Bitwise said in a report Tuesday."When it comes to the tariff push, the thing i'm most certain of is this: the Trump administration wants a significantly weaker dollar," wrote Matt Hougan, chief investment officer at Bitwise.After a week of market turmoil cryptocurrencies surged on Wednesday following President Trump's announcement of a 90-day pause on tariffs for countries that haven't retaliated against the U.S..A weaker dollar has significant implications for bitcoin. Bitwise notes that over the last five years the cryptocurrency has had a negative correlation to the U.S. Dollar Index (DXY). When the dollar falls, bitcoin rises, and Bitwise said it expects this relationship to...

Cryptocurrencies jumped on Wednesday on news that Donald Trump stepped back some tariff burdens on countries — except for China.According to Trump's post on Truth Social, he issued a 90-day delay on tariffs and a substantially lowered 10% rate of reciprocal tariff for this period against all countries except China. Meanwhile, he said he raised tariffs for China to 125%, "effective immediately."Bitcoin (BTC), treading water around $77,000 during most of the U.S. session, surged above $81,000 on the news, up 5.5% over the past 24 hours. Altcoin majors rallied even more, with XRP, Solana's SOL, Avalanche's AVAX, Chainlink's LINK, Hedera's HBAR and SUI posting over 10% gains in the broad-market CoinDesk 20 Index. Ethereum's ETH rallied to $1,600, up 8%...

Justin Sun's allegations that Hong Kong-based custodian First Digital Trust is insolvent have landed him in the cross-hairs of a defamation claim initiated by the company.First Digital's FDUSD stablecoin briefly de-pegged on April 3 after Sun claimed the company was "insolvent," though it has since virtually recovered, according to CoinDesk markets data. The writ of summons, the first step in a defamation claim, was filed late last week and requests the Hong Kong High Court to issue an injunction restraining Sun from making further statements on the matter. It also asks for an injunction requiring Sun to publish retractions.It also asks for the Court to issue an award for damages (though it doesn't specify how much) for "unlawful interference...

Bootstrapping decentralized finance (DeFi) on any blockchain usually requires a mix of builders with big ideas and funders to back them. That much is as true for baselayers as it is for the financial protocols launching atop them.Arch Labs, whose eponymous network is one of the many projects trying to bring DeFi to Bitcoin, had no trouble raising its $7 million launch capital from big-name venture firms last year. Now its shifting focus to help fund those smaller protocols that could make the whole network boom.In that it's found a willing partner. An entire venture company, DPI Capital is dedicating millions of dollars in resources toward backing early-stage DeFi projects that enter Arch's first accelerator program, called Keystone."We're really focused...

EMB: April 9, 16:00 UTCA blockchain-based startup in London said it closed a $50 million funding round to forward its goal of "reinventing social media."Wunder.Social raised the funds in a round led by Rollman Management, according to an announcement shared with CoinDesk on Wednesday.The project uses blockchain technology to verify users, thereby eliminating bots, and shares advertising revenue with users, allowing them to fund causes they care about, Wunder.Social said in the announcement.A token offer is planned for later this month, with interested potential users signing up on the company's website.The project also said that the former head of marketing at TikTok, Ryan Martin, joined Wunder.Social as chief marketing officer.Read More: Decentralized Social Media Firm Lens Eyes Massive Scale-UpSource link...