The Daily: Bitcoin and privacy coins gain as Trump-Powell conflict escalates, Tether freezes $182M in USDT, Strategy makes biggest buy in six months, and more
Bitcoin and privacy coins rose amid political conflict, Tether froze $182M in USDT, and Strategy executed its largest Bitcoin purchase in six months.Summary
The crypto market is in a structural rebuild phase, with Bitcoin hovering near $91,000. Bitcoin and privacy coins like Monero and Zcash saw gains as markets reacted to escalating political pressure on the Federal Reserve, specifically Fed Chair Powell's claim that the DOJ threatened indictment over his testimony, which he framed as retaliation for defending central bank independence against President Trump's demands for faster rate cuts. In enforcement news, Tether froze $182 million in USDT across five Tron addresses following a law enforcement request, highlighting stablecoins' role in illicit activity. Meanwhile, Strategy made its largest weekly Bitcoin purchase in six months, acquiring 13,627 BTC for $1.25 billion, bringing its total holdings to 687,410 BTC. Additionally, Bernstein analysts believe the window for passing a U.S. crypto market structure bill is immediate, though resolution over stablecoin yield rewards remains a key hurdle. Standard Chartered projected that 2026 will be the year of Ethereum outperformance against Bitcoin.
(Source：The Block)