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XRP Holders Targeted as Ripple Officially Warns of Rising XRP Scams

Albert Brown
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XRP Holders Targeted as Ripple Officially Warns of Rising XRP Scams

As market interest in XRP surges, the Ripple team has renewed its warnings over a growing wave of crypto-related scams. 

The company issued an alert on X, pointing to an increase in fraudulent schemes targeting XRP holders, especially those tied to fake airdrops and impersonation tactics. According to Ripple, these scams have persisted and are now adapting quickly, using sophisticated tactics to exploit unsuspecting users during market highs.

 

Rise in Fake Giveaways and Executive Impersonation

One of the most common scams flagged involves fake giveaways. These posts typically promise users double returns if they send a specific amount of XRP. The messaging often mimics Ripple’s CEO, Brad Garlinghouse, and other executives, employing deepfake technology to create convincing yet entirely fabricated promotional content.

In parallel, scammers are cloning profiles of Ripple executives using verified X accounts and accurate logos. These impersonators often send direct messages or tag users in posts claiming urgent XRP developments or exclusive airdrops.

Ripple has advised users to always verify account authenticity through official channels rather than relying on post interactions or direct messages. The firm stated that these scams have become more dangerous due to their increasing use of AI-generated content, such as deepfake videos and manipulated interviews involving Ripple executives.

Malicious Wallets, Phishing Traps, and the Treasury Hoax

Beyond fake giveaways and impersonations, scammers have created malicious wallets and exchanges designed to steal funds. These platforms often masquerade as legitimate XRP wallets but serve as drainers. Ripple recommended that users stick to recognized wallet providers such as Ledger, Trust Wallet, Xaman, Atomic, and GateHub. 

In addition, phishing scams remain a prevalent threat. Fraudsters send emails or direct messages that appear to be from Ripple support, using clean branding and accurate language. These messages typically include links asking users to verify their wallets or claim bonuses. However, clicking such links often leads to data breaches or wallet drains. 

Another dangerous trend identified was the “Fake U.S. Treasury Wallet” hoax. This scam gained traction in 2024 and falsely claimed that the U.S. Treasury was holding XRP in a government wallet.

The narrative was amplified by verified influencers on X, leading over 10,000 individuals to fall victim. Ripple reiterated that sensational claims should always be cross-checked with credible media sources before action.

How to Stay Safe as XRP Holder

Beyond Ripple, other influential voices in the XRP community are also flagging the threats and thus advising how to stay safe. An account on X, All Things XRP, has warned holders to stay alert, especially during price surges when scams often spike.

They caution users against FOMO-driven traps like “limited-time offers” or “pre-SEC decision rewards,” which are common scam tactics. To stay protected, XRP holders should use non-custodial or hardware wallets such as Ledger or Xaman. Moreover, they must avoid sharing private keys or seed phrases and only access official Ripple and XRPL websites.

The account also reminds users about the XRP reserve requirement, currently just 1 XRP. Any service demanding more, such as 10 XRP for wallet activation, is likely a scam.

Security Incident at Leading U.S. Crypto Exchange

Only hours ago, the U.S. Department of Justice launched an investigation into a recent security breach at Coinbase Global Inc., the country’s largest cryptocurrency exchange.

Federal investigators, including personnel from the Justice Department’s criminal division in Washington, are now examining how the incident occurred. 

Coinbase revealed that the breach involved threat actors who bribed support staff and contractors based in India to gain unauthorized access to sensitive customer data. The company disclosed the breach in a recent regulatory filing, noting that the attackers later demanded a $20 million ransom.

16 Democratic Senators Flip Vote to Yes as Stablecoin Genius Act Advances in US Senate

Lele Jima
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16 Democratic Senators Flip Vote to Yes as Stablecoin Genius Act Advances in US Senate

The U.S. Senate has voted to advance the stablecoin-regulating GENIUS Act, with 16 Democratic Senators changing their votes to support the bill. 

In an interesting development, the U.S. Senate advanced the GENIUS Act in a key procedural vote, passing it by a margin of 66-32. 

16 Democratic Senators Change Initial Vote to Yes 

The development comes over a week after several Democratic Senators blocked an initial attempt to advance the stablecoin regulation. At the time, these senators expressed concerns over Donald Trump’s potential conflict of interest and anti-money laundering provisions related to the bill. 

However, the Senate succeeded in passing the motion to invoke cloture on the GENIUS Act in a 66-32 vote. It bears mentioning that this would not have been possible without 16 Democratic Senators changing their votes to ‘Yes’. 

They include Senators Kirsten Gillibrand, Adam Schiff, Ben Ray Luján, Angela Alsobrooks, Mark Warner, Jon Ossoff, Catherine Cortez Masto, John Fetterman, and Alex Padilla. 

Others are Senators Elissa Slotkin, Ruben Gallego, Martin Heinrich, Jacky Rosen, Maggie Hassan, Lisa Blunt Rochester, and Cory Booker. 

Three of these senators–Schiff, Slotkin, and Gallego–were initially supported by Fairshake PAC during the 2024 election. For context, Fairshake is a political action committee funded by crypto entities like Ripple and Coinbase to advocate for pro-crypto legislation. 

Next Steps

Based on the latest development, the GENIUS Act will now proceed to the Senate floor for debate and potential amendments. Afterward, a full vote will be held to determine the bill’s final passage. 

Eleanor Terrett, the host of the Crypto in America show, disclosed that this process will commence tomorrow, May 21. Republican Senators, including Cynthia Lummis, hope to pass the GENIUS Act before the U.S. Memorial Day, slated for May 26. However, it is uncertain whether the GENIUS Act will pass by then. 

Elizabeth Warren Kicks Against GENIUS Act

Although several Democratic Senators changed their votes to Yes to advance the GENIUS Act, others, like Elizabeth Warren, opposed it. 

Before the procedural vote, Senator Warren urged her colleagues to vote against it, arguing that its passage could turbocharge “Trump’s corruption” in the crypto market. 

Notably,  the U.S. President and his family have several crypto-related projects. They include meme coins (TRUMP and MELANIA), a dollar-pegged stablecoin (USD1), a crypto mining company, and a DeFi protocol (World Liberty Financial). 

During her speech, Senator Warren argued that these crypto ventures have fetched hundreds of millions of dollars for Trump and his family. She suggested Trump’s family expects to make more proceeds through the USD1 stablecoin if Congress passes the GENIUS Act. 

Launched in March 2025, USD1 has already gained prominence in the stablecoin market. It currently ranks as the fifth biggest stablecoin in the world, with a market cap of $2.12 billion. 

Senator Hagerty Reacts to GENIUS Act Advancement 

Recall that Senator Bill Hagerty introduced the GENIUS Act in February to regulate the stablecoin market. It aims to ensure that stablecoins are fully backed with regular security audits. 

Following the passage of the motion to invoke cloture, Senator Hagerty celebrated the feat, noting that the GENIUS Act would help bring America’s payment system into the 21st century. 

According to him, the regulation will guarantee the U.S. dollar dominance, protect consumers, and drive innovation in the crypto space. 

“Was It Sen. Lummis or Her Staff?” Ripple CEO’s Canceled Meeting Raises Doubts Over Lummis’ Family Ties to Bitcoin-Only Views

Sam Wisdom Raphael
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“Was It Sen. Lummis or Her Staff?” Ripple CEO’s Canceled Meeting Raises Doubts Over Lummis’ Family Ties to Bitcoin-Only Views

Senator Cynthia Lummis’ decision to cancel a meeting with Ripple CEO Brad Garlinghouse has triggered questions over Bitcoin-only views.

Ripple CEO Brad Garlinghouse recently shared that he traveled to Washington, D.C. to support efforts for practical crypto regulations, especially concerning stablecoins and market structure. 

Senator Lummis Cancels Meeting with Ripple CEO

However, the trip hit a roadblock when Senator Cynthia Lummis, who chairs the Digital Assets Subcommittee, canceled a meeting with him and reportedly refused to reschedule.

Garlinghouse was visibly surprised by the development, pointing out that Lummis represents one of the most crypto-welcoming states, Wyoming, and hoped she would support the wider crypto space. 

He invited her to join a public conversation on X or at a future event to discuss ways to help the U.S. become the global leader in crypto, a goal he said aligns with the Trump Administration’s objectives. He made it clear he remains committed to backing that mission.

Conflict of Interest?

Shortly after, a Cowboy Crypto, an XRP community figure, called attention to Senator Lummis’ son-in-law, Will Cole. According to him, Cole, who works as Head of Product at a Bitcoin payments company, had reposted a message mocking Garlinghouse. 

He further pointed out that Lummis’ non-profit organization OpenSecrets has donors that include A16Z, claiming that her family has deep ties to Bitcoin. Cowboy Crypto questioned whether this could be a conflict of interest.

In response, while Garlinghouse noted that the information about Cole’s connection to Lummis was eye-opening, he acknowledged that unexpected changes can happen in a Senator’s daily schedule. 

However, he found it concerning that her staff stated they could not reschedule the meeting, especially since Ripple had never managed to meet with her one-on-one in six years. Garlinghouse stressed that Ripple is an American company working to grow the crypto industry for the benefit of all citizens. 

Notably, there are public records showing that Lummis purchased Bitcoin worth between $50,000 and $100,000 in 2021, which she disclosed in a financial filing. 

Also, she stated that she holds only Bitcoin and no other digital assets. Some have taken this as a sign that she may lean toward Bitcoin-only views, though that has not been confirmed. Her daughter also supports Bitcoin, but there is no proof suggesting she shares any Bitcoin-only beliefs.

Lummis’ Son-in-Law’s Bitcoin-only Views

Meanwhile, Will Cole, her son-in-law, has a long track record of being openly supportive of a Bitcoin-only future and critical of Ripple and XRP. 

In February 2020, Ripple filed to register as a business in Wyoming. A year later, Caitlin Long, the founder and CEO of Custodia Bank, welcomed Ripple’s move in a post on X, pointing to Wyoming’s crypto-friendly approach. 

Some Bitcoin advocates reacted negatively, calling for her to be “canceled” over the message. However, one crypto investor argued that the state shouldn’t choose winners and losers in the crypto space. 

In response, Cole said he agreed that no project should be favored but insisted that any mention of Ripple should also point out that, in his view, the project mostly made its founders rich at the expense of retail investors through misleading tactics.

Also, during the FTX collapse in November 2022, shortly after the company filed for bankruptcy, Cole brought up Ripple again. He called it a centralized scam and suggested that the real concern wasn’t just about whether XRP qualified as a security, but deeper problems.

“Everything else is either credit or fraudulent”

Last year, after COPA won its case against Craig Wright, who claimed to be Bitcoin’s creator, Satoshi Nakamoto, Cole used the moment to draw attention to others he sees as harmful to crypto. 

He listed Ripple co-founder Jed McCaleb alongside other prominent figures like Cardano founder Charles Hoskinson, calling them frauds. In a classic Bitcoin-maxi view, he suggested that Bitcoin is the only form of money, while everything else is either debt or a scam.

Cole currently leads product development at Zaprite, a Bitcoin payments company backed by Lightning Ventures, a venture firm focused solely on Bitcoin. The firm includes well-known Bitcoin supporters like Stacy Herbert and Max Keiser, who have long spoken against Ripple and XRP. 

In the wake of the canceled meeting between Garlinghouse and Lummis, Cole has reposted messages from other Bitcoin supporters criticizing the Ripple CEO.

Forbes Shares 4 Key Factors That Can Push XRP Price in 2025

Abdulkarim Abdulwahab
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Forbes Shares 4 Key Factors That Can Push XRP Price in 2025

Forbes contributor Zennon Kapron outlined four important factors that could define XRP price trajectory in 2025.

The most immediate factor is regulation, particularly in the United States. The Forbes report noted that XRP’s price potential is heavily tied to the outcome of Ripple’s legal proceedings with the SEC. A positive ruling could reopen the U.S. market to XRP by encouraging further institutional participation.

Regulatory Greenlight

Notably, Ripple’s days of arguing with the SEC in court concerning the long-running lawsuits are over. In particular, both parties have reached a settlement with a reduced fine of $50 million.

What remains for the case to ultimately conclude is the approval of the court on the new decision by both parties. Interestingly, the judge last week declined their request to approve the revised settlement terms, citing procedural errors. 

However, according to Ripple’s lead counsel, the development does not impact the settlement agreement or Ripple’s earlier wins.

Recall that in 2023, the court ruled that XRP is not a security, which triggered a 100% surge that day. Many believe the ultimate resolution of the Ripple lawsuit could propel XRP’s price.

Institutional Adoption to Drive Real-World Utility

Beyond regulation, Forbes noted that real-world use by banks, payment platforms, and fintechs will be essential for XRP to maintain relevance.

It cited Ripple Payments (previously On-Demand Liquidity), which uses XRP as a bridge asset for cross-border payments, as a practical use case that could drive transaction volume.

However, according to the Forbes contributor, the success of this model depends on how many institutions actually choose to integrate XRP into their operations, rather than opting for private or fiat-backed digital alternatives.

Indeed, institutions using Ripple’s solution have the option to leverage Ripple’s stablecoin, RLUSD, or XRP. Some community members have raised concerns about this. They lament that XRP’s core role in the Ripple ecosystem is diminishing to just transaction fees.

Technological Upgrades

Furthermore, Kapron noted that XRP’s strengths in low transaction fees and high speed are no longer unique. With competing blockchains and Layer-2 solutions, XRP’s underlying technology must continue to improve.

The Forbes analyst stressed that to stay competitive, Ripple’s development roadmap must evolve continuously, incorporating protocol upgrades that improve scalability and privacy. Kapron also called for interoperability bridges to link XRP with other major blockchains.

XRP ETF Milestones Matter

Meanwhile, Kapron acknowledged that Brazil’s recent launch of the first XRP ETF shows a growing appetite for structured XRP investment products. He believes that if more XRP ETFs emerge, investor access and liquidity could significantly improve, especially in larger markets like the U.S.

Indeed, over 10 XRP spot ETF applications are under SEC review, with a decision on the Grayscale application due this month. 

The regulator has approved leveraged ETFs for XRP, and they have seen significant momentum. Proponents believe that spot ETF approval in the U.S. could be the real game-changer.

Forbes concludes that XRP’s future hinges on adoption metrics, not speculation. The article stressed that if Ripple succeeds in translating its network of partnerships into active usage of XRP, 2025 could mark a significant turnaround. 

If not, competition from stablecoins and evolving digital infrastructures may push XRP further to the sidelines.

Here’s XRP Price If It Is Able to Replicate Rally That Took XRP from $0.5 to $3.4

Sam Wisdom Raphael
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Here’s XRP Price If It Is Able to Replicate Rally That Took XRP from $0.5 to $3.4

XRP price saw massive growth from November 2024 to January 2025, but could the asset replicate this run in the foreseeable future?

The crypto market has come to a halt following the massive uptrend witnessed between November 2024 and January 2025 on the back of Donald Trump’s victory in the latest U.S. presidential election.

While the market has witnessed occasional upswings since then, like the one observed from early to mid-May, none have equaled the November 2024 to January 2025 run. Interestingly, XRP, which saw extensive price suppression throughout 2024, was one of the biggest beneficiaries of this rally.

For context, the asset began November 2024 with a price of $0.50 but rallied by a massive 283% that month alone. This represented its largest monthly gain since December 2017, seven years ago. 

Bullish XRP Price Predictions Amid Ongoing Consolidation 

However, XRP’s upsurge did not end with the 283% rise in November 2024. The asset witnessed an additional 6.43% gain in December 2024 and soared to a peak of $3.4 in January 2025. Overall, the rally from $0.50 to $3.4 marked a staggering 580% gain within three months.

XRP Price Run
XRP Price Run from November 2024 to January 2025

Since hitting the resistance at $3.4, the XRP price has corrected to trade below the psychological mark of $3. Despite the bearish pressure in the broader market, the asset maintains the $2 price mark as support, awaiting another upsurge to secure more gains.

As a result, multiple analysts have projected ambitious price targets for XRP in the coming months. For instance, an XRP community figure and researcher, Rob Cunningham, recently suggested XRP could claim a $5 to $15 price range in the short term. Last month, an Elliott Wave expert predicted an XRP breakout to $10.

What if XRP repeats the 580% Rally?

While market participants are confident that some of these targets are feasible in the current cycle, they remain pessimistic about other, more ambitious goals. Nonetheless, given its ability to soar 580% from November 2024 to January 2025, XRP has the potential to repeat this run at least before the bull run ends.

With XRP price currently at $2.34, another 580% increase from this level would clearly lead to a new all-time high for the asset. Specifically, if XRP rallied 580% from the current price, its value would skyrocket to $15.9, approximately $16. This aligns with Cunningham’s short-term target.

Interestingly, last October, before the initial 580% uptick, market analyst Lud predicted XRP to reach $16, citing the 2017 fractal. Also, within the same month, another analyst EGRAG Crypto projected a possible XRP rally to targets such as $9.3 and $16, leveraging a standard deviation model. 

Meanwhile, analysts at Changelly, a crypto exchange platform, believe the XRP price could reach the $16 mark, but only in 2029, four years later. However, Telegaon experts see the $16 target materializing sooner, specifically in 2027, two years from now.

XRP Price Prediction Telegaon
XRP Price Prediction | Telegaon

Meliuz Chair Says Bitcoin is Like a Nuclear Reactor on the Brazilian Firm’s Balance Sheet

Mark Brennan
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Meliuz Chair Says Bitcoin is Like a Nuclear Reactor on the Brazilian Firm’s Balance Sheet

Méliuz Chairman Israel Salmen has described Bitcoin as a “nuclear reactor” now integrated into the Brazilian company’s balance sheet following CASH3BZ stock pump. 

The statement followed Méliuz’s official transition into Brazil’s first Bitcoin treasury firm, a move that gained shareholder approval by a wide majority.

The statements, shared during a recent conference call, and highlighted by VanEck’s Head of Digital Assets Research, Matthew Sigel, align with the fintech company’s broader shift in strategy to build Bitcoin per share as a long-term metric rather than holding it as a hedge. 

Salmen emphasized that Bitcoin has garnered substantial attention and backing, noting that the asset is supported by a broader base of shareholders than the number of investors currently active in Brazil’s stock market. He stated that the company is highly satisfied with the strategic shift, reinforcing Bitcoin’s role as a central element in the firm’s operations.

Méliuz Acquires Over 274 Bitcoin 

Méliuz confirmed the purchase of 274.52 BTC for approximately $28.4 million last week, bringing its total holdings to 320.3 BTC. The company noted that acquisitions would continue in an “accretive way” using various financial instruments.

Salmen previously explained that this initiative is different from conventional treasury strategies, as Bitcoin is now a core business component rather than a financial hedge.

Sigel also shared a chart that showed from mid-February 2025, Méliuz’s stock (CASH3BZ) surged from R$3.00 to R$10.70. This rally gained strength in April, supported by a sharp uptick in trading volume. 

Other Public Firms Seeing Gains After Treasury Shift

The Méliuz development follows similar gains by other publicly listed companies. Semler Scientific’s stock SMLR recorded a sharp monthly rise of 42.00%, gaining $12.53 to close at $42.36 as of May 19.

The U.S.-based firm reported a 22.2% BTC yield year-to-date as of May 12. In the same period, it disclosed BTC gains totaling 510.3 units and U.S. dollar gains of $52 million. 

Further, Strategy’s MSTR recorded a notable 25.94% gain over the past month, with its stock price rising from approximately $317.76 to $400.18 as of May 19. The Bitcoin strategy pioneer remains the largest corporate Bitcoin holder.

According to the latest figures, it controls 576,230 BTC, which is valued at approximately $59.57 billion. As of mid-May, the firm reported 73,120 BTC gained year-to-date, representing a 12.69% increase in holdings. In 2024, Strategy recorded 140,538 BTC in gains, equal to 24.39% of its holdings, resulting in a $13.13 billion gain.

El Salvador’s Holdings Show Large Unrealized Gains

Meanwhile, El Salvador’s national Bitcoin portfolio has appreciated significantly. President Nayib Bukele recently shared updated wallet data on social media. 

The country’s 6,181 BTC were acquired at a total cost of $287.1 million, and the portfolio’s current valuation exceeds $644.4 million. This marks an unrealized gain of more than $357 million.

Analyst on Dogecoin: ‘No Way I’d Skip This Trade — Chart Signals a Run to $0.45’

Elendu Benedict
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Analyst on Dogecoin: ‘No Way I’d Skip This Trade — Chart Signals a Run to $0.45’

A top market analyst has lauded the exceptional bullishness in the Dogecoin chart, predicting a quick twofold price rally.

Dogecoin may be correcting like the rest of the crypto market following last week’s rise, but this prominent market watcher is looking beyond the short-term price retracement. Specifically, Jake Wujastyk has predicted that the largest meme coin by market cap is up for a dazzling upward trend, as the chart looks nicely set up.

The analysis precedes Dogecoin’s wrong-footed start to the week. The community-driven token has dumped 7% today alone, nearly relinquishing all of its gains on the last day of the previous week.

No Way You Won’t Take a Dogecoin Trade: Analyst

In his Sunday commentary, Wujastyk highlighted a tempting Dogecoin chart. DOGE had just rallied 8% on the day, pushing prices close to the top of a developing descending triangle.

The pattern started emerging from Dogecoin’s rally to $0.26 on May 11, with prices fluctuating between the upper resistance and lower support. Meanwhile, with the structure getting tighter, the analyst suggested that a breakout could be imminent.

According to him, there is no way one wouldn’t take a Dogecoin trade with the bullish price development. While prices have retraced slightly today, the asset still trends within the wedge, confirming the validity of the commentary.

Meanwhile, from here, Wujastyk predicted a sustained upward trajectory to higher prices. Precisely, he projected a breakout from the wedge, with an easy twofold rally to $0.45, which is about 114% away from the current prices, on the cards.

Dogecoin Analysis/Wujastyk

Possible Timeline for Rally to Above $0.40

Furthermore, analyst Bitcoinsensus shares a bullish outlook and target similar to Wujastyk on Dogecoin. He stated that DOGE is on the cusp of a breakout to above 40 cents and cited a breakout to support his claims.

An accompanying elaborate chart shows that Dogecoin formed an inverse head-and-shoulders pattern dating back to March. The left shoulder formed from March 11’s low of $0.14, the head from April 7’s low of $0.13, and the right shoulder from $0.16 on May 6.

Dogecoin Imminent Breakout/Bitcoinsensus

Moreover, the breakout from the bullish structure propelled prices to a multi-month resistance trendline, which has impeded Dogecoin’s price since its high of $0.48 on December 8.

While prices have healthily retraced from the supply zone, Bitcoinsensus predicts that bullishness from the H&S pattern and broader market momentum would spur a breakout, specifically in the next seven days.

With the outburst, the market watcher expects a rally to between $0.42 and $0.43, where the next supply zone lies. From the current price of $0.21, the rally will culminate in a 100% and 104% uptick.

Remarkably, Dogecoin price predictions are higher. For one, analyst Javon Marks predicted a price swell to $0.65. In addition, market watcher Chris called for a higher target of $1 by September 2025. Nonetheless, analyst Ali Martinez has identified the resistance at $0.26 as a near-term barrier to higher prices.

Why Is Bitcoin Falling Today? Here is The Likely Reason

Albert Brown
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Why Is Bitcoin Falling Today? Here is The Likely Reason

Bitcoin edged lower on Monday following a major shift in investor sentiment after Moody’s Ratings downgraded the U.S. sovereign credit rating. 

The credit rating agency reduced the United States’ long-standing “Aaa” rating to “Aa1,” citing rising fiscal pressure due to the $36 trillion national debt and growing interest obligations. The decision marked Moody’s first U.S. downgrade since assigning its top-tier rating over a century ago in 1919.

The timing of the downgrade coincided with Bitcoin’s pullback from its four-month peak. After hitting an overnight high of $107,060 and recording its strongest-ever weekly close near $106,500, the crypto declined to $102,200 during the session. 

Over the past 24 hours, Bitcoin’s value dropped by 1.29%, wiping out its weekly gains. The retreat highlighted a shift in risk appetite, with investors responding to heightened fiscal uncertainty by reducing exposure to speculative assets.

However, responding to the downgrade, White House spokesperson Kush Desai criticized Moody’s credibility, referencing perceived inaction during the prior administration.

Meanwhile, Treasury Secretary Scott Bessent downplayed the immediate impact of the decision, calling it a “lagging indicator” with minimal influence on fiscal planning.

Derivatives Activity Signals Heightened Volatility

Amid the broader market reaction, Bitcoin derivatives markets experienced a notable surge in activity. Trading volume spiked by 137.84% to $164.24 billion, signaling increased speculative interest. Despite this, open interest grew only 0.95% to $69.85 billion, suggesting rapid position turnover rather than long-term commitments.

Screenshot 2025 05 19T175427779
Bitcoin Derivatives Data

Liquidation data underscored this volatility. Over a 12-hour window, total liquidations reached $48.28 million, with long positions accounting for $40.77 million. Across 24 hours, $156.92 million in total positions were liquidated, $87.20 million in longs and $69.72 million in shorts.

Greater Volatility Incoming?

Moody’s downgrade follows similar actions by Fitch Ratings in 2023 and Standard & Poor’s in 2011. Analysts noted that the cumulative effect of these downgrades may contribute to higher borrowing costs for both the public and private sectors in the United States. This may lead to greater volatility in financial markets.

Spencer Hakimian of Tolou Capital Management reported that the downgrade could translate into long-term financial strain across markets, potentially raising the cost of capital.

While this development temporarily disrupted Bitcoin’s rally toward a new all-time high, crypto industry commentators remain largely unfazed by the short-term pullback. Notably, there have been renewed calls for the beginning of “altcoin season” and predictions of a continued Bitcoin rally to as high as $250,000 by influential figures such as Arthur Hayes.

Interestingly, MicroStrategy’s Michael Saylor also disclosed a fresh, multi-million-dollar Bitcoin acquisition today. This signals continued institutional confidence in the asset despite macroeconomic headwinds.

Dogecoin Falls 6% as Long Liquidations Cross $12 Million: Is $0.2060 Next?

Mark Brennan
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Dogecoin Falls 6% as Long Liquidations Cross $12 Million: Is $0.2060 Next?

Dogecoin drops to $0.2168 amid a 6.74% pullback. With futures liquidations up 12.53% and open interest falling, the bullish pattern is at risk of breaking down.

As the crypto market undergoes a pullback, meme coins struggle to hold above key support levels. Dogecoin is down 6.74%, testing its 200-day EMA at $0.2168. Will the increasing supply pressure undermine Dogecoin’s short-term bullish pattern?

Dogecoin Price Analysis

On the daily chart, Dogecoin’s price action remains in a broader downtrend, with a strong descending resistance trendline in place. This trendline reflects the lower-high formation that has persisted since December 2024.

Dogecoin Price Chart
Dogecoin Price Chart

However, short-term consolidation below the 50% Fibonacci level at $0.2566 has formed an inverted head-and-shoulders pattern. The neckline of this bullish pattern coincides with the 50% Fibonacci level, the $0.25 supply zone, and the descending trendline.

Currently, Dogecoin is testing the 200-day EMA at $0.2168, falling below the 38.20% Fibonacci retracement level at $0.2227. Despite the intraday decline, the price remains within the potential right-shoulder phase of the bullish pattern.

A breakdown below the 100-day EMA at $0.2060 would invalidate the bullish setup and increase the downside risk toward $0.1869, which is aligned with the 23.60% Fibonacci level.

On the bullish side, a breakout above the neckline could lead to a 95% rally in Dogecoin, targeting the $0.50 mark.

Dogecoin Futures Turn Bleak as Long Liquidations Cross $12 Million

Amid the drop in spot prices, Dogecoin futures have taken a significant hit. Over the past 24 hours, open interest has declined by 1.55%, falling to $2.64 billion. Additionally, long liquidations hit $12.53 million in the same period.

The drop in open interest alongside rising long liquidations signals growing bearish dominance in Dogecoin futures.

DOGE
DOGE

Currently, the long-to-short ratio stands at 0.9612 over the past 24 hours, reflecting slight bearish sentiment. Moreover, the open interest-weighted funding rate has dropped to 0.0014% from a recent peak of 0.0097%, highlighting a sharp decline in bullish intent to hold long positions.

Altogether, derivatives data indicate the potential for a steeper correction in Dogecoin if market volatility persists.

Investors Sue MicroStrategy Over Misleading Bitcoin Financial Disclosures

Lele Jima
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Investors Sue MicroStrategy Over Misleading Bitcoin Financial Disclosures

Pomerantz LLP has filed a class action against Strategy (formerly MicroStrategy) and its executives over the company’s Bitcoin investments and related financial disclosures. 

The New York law firm recently filed the class action in the U.S. District Court for the Eastern District of Virginia. Notably, the plaintiffs include investors who acquired Strategy stock between April 30, 2024, and April 4, 2025. 

The class action alleged that Strategy violated federal securities laws and hopes to pursue remedies on behalf of investors under Sections 10 (b) and 20 (a) of the Securities and Exchange Act. 

Allegations Against Strategy 

According to the complaint, Strategy misled investors during the class period by changing its accounting practices without adequately disclosing the implications. It noted the company has accumulated and held Bitcoin since 2020 as part of its long-term strategy.

The complaint states that Strategy financed its Bitcoin purchases using cash reserves, as well as proceeds from equity and debt financing. It also notes that the company has referred to itself as a “Bitcoin Treasury Company.”

In support of this strategy, Strategy introduced new key performance indicators (KPIs), including BTC Gain, BTC Yield, and BTC $ Gain, to help investors evaluate the performance of its Bitcoin holdings.

Change in Accounting Model 

Meanwhile, on January 1, 2025, Strategy adopted the FASB’s Accounting Standards Update (ASU 2023-08), which requires companies to record their cryptocurrency holdings at fair value in financial statements.

Previously, Strategy used a cost-less-impairment accounting model, under which Bitcoin impairments were recorded only when the asset’s price fell. Unrealized gains were not recognized unless the assets were sold.

The plaintiffs argue that Strategy failed to adequately warn investors about the new accounting model’s risks and overstated its profitability under the fair-value approach.

In addition, the complaint alleged that Strategy understated the potential losses it might record on its Bitcoin holdings under fair-value accounting. According to the plaintiffs, investors suffered significant losses after Strategy announced an unrealized loss of $5.91 billion in Q1 2025. 

As a result, the price of its common A stock crashed 8.67%, or $25.47 per share, to $268.14 on April 7. According to the complaint, the company later admitted in a public statement that the $5.9 billion net loss stemmed directly from applying the fair-value accounting standard on its Bitcoin holdings. 

Consequently, Pomerantz is seeking to recover damages on behalf of affected investors.

Strategy Buys More Bitcoin

Meanwhile, Strategy seems unbothered by the class action as it announces the acquisition of 7,390 BTC worth $764.9 million. The company made the disclosure today in a filing submitted with the U.S. SEC. 

At press time, the company holds 576,230 BTC acquired for $40.18 billion, each costing $69,726. With Bitcoin currently trading at $103,745, Strategy’s Bitcoin stash is valued at $59.78 billion.

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