Institutional giant Bitwise is still holding firm on its bold $200,000 Bitcoin price prediction for 2025 — even as Trump’s latest tariff war shakes global markets. In fact, Bitwise’s CIO thinks a weaker dollar might just be the rocket fuel Bitcoin needs.
Meanwhile, market volatility has gone from bad to meme-worthy. Trump’s official memecoin is set to unlock $321 million worth of tokens this month — because what’s crypto without a little extra chaos?
Here’s a quick rundown of everything you might’ve missed this week in crypto.
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TOP CRYPTO NEWS RECAP (April 6–April 12, 2025)
- Trump Administration Repeals DeFi Broker Rule, Marking Major Victory for Crypto
- Senator Tim Scott Expects Market Structure Bill Before August Recess
- US Senate Confirms Paul Atkins as SEC Chair
- SEC and Ripple Labs File Joint Motion to Halt Appeals in XRP Lawsuit
- Melania Trump’s Memecoin Team Secretly Sold $30M Tokens, Reports Bubblemaps
- Trump Announces Temporary Suspension of Select Tariffs, Strengthens China’s
Trump Administration Repeals DeFi Broker Rule, Marking Major Victory for Crypto
In a major victory for the crypto industry, former President Donald Trump overturned the IRS's controversial DeFi broker rule, which would have forced decentralized finance platforms to report user transactions to tax authorities. Critics argued the rule stifled innovation, invaded privacy, and overwhelmed the IRS.
Meanwhile, Cardano founder Charles Hoskinson urged crypto projects to adopt collaborative tokenomics to compete with tech giants like Apple and Google entering Web3. The article also highlights Bitcoin’s volatile weekend trading, Bybit’s post-hack recovery, and FTX creditors risking $2.5 billion in missed repayments due to KYC delays. Regulatory clarity and industry adaptation remain key themes in crypto’s evolving landscape.
Senator Tim Scott Expects Market Structure Bill Before August Recess
Senator Tim Scott, Chair of the Senate Banking Committee, is confident that a crypto market structure bill will pass by August 2025, aligning with broader U.S. efforts to lead in digital asset innovation. Scott highlighted the Committee’s progress, including advancing the GENIUS Act—a stablecoin regulation bill—as proof of prioritizing crypto policy. He stressed the need for "innovation before regulation" to maintain U.S. economic dominance.
Bipartisan support for crypto legislation is growing, with Rep. Ro Khanna (D) predicting stablecoin and market structure bills will pass in 2025, backed by 70–80 Democrats. Treasury officials, including Bo Hines, expect stablecoin laws within 60 days, reinforcing the U.S. push for global crypto leadership.
US Senate Confirms Paul Atkins as SEC Chair
The U.S. Senate confirmed Paul Atkins as the new SEC chair in a 52-44 vote, solidifying his leadership under the Trump administration. A pro-crypto advocate and former SEC commissioner (2002-2008), Atkins brings expertise from his roles at Patomak Global Partners and the Token Alliance.
He succeeds acting chair Mark Uyeda, taking over from Gary Gensler, whose tenure was marked by aggressive crypto enforcement. Atkins pledges a "rational, coherent" regulatory approach to digital assets, contrasting Gensler’s crackdowns.
His confirmation was delayed due to financial disclosures, revealing up to $6M in crypto investments, including Anchorage Digital and Securitize. Lawmakers expect his leadership to foster innovation while ensuring market clarity.
SEC and Ripple Labs File Joint Motion to Halt Appeals in XRP Lawsuit
The SEC and Ripple have jointly filed to pause appeals in their long-running XRP lawsuit, signaling potential settlement talks. Both parties agreed to an "abeyance," halting legal proceedings to conserve resources while negotiating a resolution.
This move follows Ripple CEO Brad Garlinghouse’s March announcement that the case was effectively over, with speculation that incoming SEC Chair Paul Atkins may drop the lawsuit upon taking office.
The filing cancels Ripple’s April 16 response deadline, further hinting at an impending settlement. While Atkins’s swearing-in date remains unclear, legal observers suggest the SEC’s pause indicates a willingness to resolve the case swiftly.
Melania Trump’s Memecoin Team Secretly Sold $30M Tokens, Reports Bubblemaps
Melania Trump’s memecoin project, Melania Meme (MELANIA), is under scrutiny after blockchain firm Bubblemaps revealed that $30 million worth of tokens were quietly moved from community funds and sold without explanation. The tokens were funneled through a single wallet, then dispersed and partially liquidated on exchanges.
Bubblemaps also noted that team wallets hold 92% of MELANIA’s supply. The token has crashed over 96% from its January peak. Hayden Davis, linked to the project, was previously caught covertly selling MELANIA and another token, LIBRA. The controversy unfolds amid a broader decline in memecoin activity across Solana.
Trump Announces Temporary Suspension of Select Tariffs, Strengthens China’s
President Donald Trump announced a 90-day pause on certain tariffs, reducing rates to 10% for nations that refrain from retaliatory measures—a move that spurred a 7% surge in the S&P 500. However, he escalated tensions with China, raising tariffs to 125% in response to its counter-tariffs and declaring an end to "ripping off the USA."
The markets exhibited extreme volatility, with trillions in value swinging on tariff-related rumors before stabilizing slightly post-announcement. Analysts speculate that a potential yuan devaluation could drive Chinese investors toward cryptocurrencies, echoing past trends. The high-stakes trade war continues to dictate market instability.
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