#cryptocurrency

The immediate catalyst was the US Treasury’s decision to at least double its purchases of government bonds with longer maturities, from $2 billion to $4 billion a month with the aim of reducing longer-term Treasury yields, which have surged recently to highs last seen in 2007.

Bitcoin reacted almost immediately, rising nearly 6% on Aug. 19 before extending its gains. According to André Dragosch, head of research Europe at Bitwise, the Treasury announcement was the “major macro catalyst,” signaling a greater willingness to ease fiscal policy and contributing to a weaker US dollar.

“There are several drivers behind the recovery in bitcoin over the past week,” says Macellari, pointing to the recent White House crypto summit and potentially positive momentum on the Digital Asset Markets Clarity Act under consideration by the US Senate. “But the most significant driver is the debasement trade narrative coming back into the spotlight.”

Once prices started moving higher, leveraged short positions, which use borrowing to bet on the price weakness of bitcoin, were forced to close. According to Dragosch, last week there was a record amount of liquidated short positions, which added another layer of buying pressure, creating a classic “short squeeze”.

But the level of $80,000 remains the key test. CoinShares’ Butterfill expects bitcoin to remain within its current range unless the Federal Reserve provides clearer confirmation that the risk of further rate rises has disappeared, which “could provide the catalyst for a stable bitcoin breakout above the $80,000 threshold.”

Trump reported another $635 million from the sale of his Trump meme coins. The news underlines how crypto has transformed the president's fortunes. In his disclosure a year ​ago, opens new tab, for example, the president reported $57.35 million from token sales at World Liberty, which then leaped nine-fold in this year’s filing. Reuters recently estimated the Trump family has made at least $2.3 ​billion from crypto-related projects since Trump returned to the White House in 2025. On taking office, Trump began to put in place policies and initiatives that ⁠the industry saw as beneficial, from implementing federal rules for stablecoins to dialing back policing of the industry by the U.S. Justice Department and the Securities and Exchange Commission.

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Its fundamental business has faced some challenges over the years. In 2021, Tether came under fire for opacity around its reserve assets, including investing reserves in illiquid assets. In response, the company has begun publishing quarterly reports and said it’s since bolstered its reserves.

S&P Global Ratings downgraded to “weak” Tether’s ability to maintain its 1:1 USDT backing in late 2025, citing volatility in its bitcoin reserves.

Still, the company disclosed profits of more than $10 billion in 2025, with $6.3 billion in excess reserves and record US Treasury holdings of $141 billion.

“I know everyone is all hyped about AI, but I don’t know any AI company that made that much of a profit last year,” one crypto investor said, adding that “they just have so much money that they’ve turned into something like a massive holding company.”

Your stopover in the United Arab Emirates, where you will reportedly seal a deal relaxing export controls on sensitive U.S. technology, is poised to showcase this new level of grifting – and it will come directly at the expense of U.S. national security.

You and your family are financially tied to World Liberty Financial (WLF), a crypto venture that recently launched the stablecoin USD1.3 In March, prior to the official launch of USD1, your crypto assets – including WLF holdings and your $TRUMP meme coin –accounted for nearly 40 percent of your total assets.4 Your holdings in WLF have clearly expanded your wealth since you took office and will only further expand it as USD1 issuance grows.

On May 1, Eric Trump and the son of your Special Envoy Steve Witkoff announced that Emirati state-owned investment firm MGX will use USD1 to complete a $2 billion dollar transaction with cryptoexchange Binance. 5 In selecting USD1, the Emirati-backed fund will likely pay hundreds of millions of dollars in transaction fees, and WLF will be able to reap returns on any investments it makes with the $2 billion deposit. In essence, WLF – and you and your family by extension – are receiving a cut of this deal.