Tag: Crypto News

The team behind First Digital USD (CRYPTO: FDUSD) addressed concerns regarding financial stability Wednesday after the dollar-backed stablecoin briefly depegged following allegations of insolvency by cryptocurrency entrepreneur Justin Sun.

What Happened: First Digital confirmed that it has processed the initial redemptions following the FUD. It also assured that FDUSD is fully backed 1:1 and that their redemption channels are functioning smoothly.

The controversy erupted when Tron (CRYPTO: TRX) founder Justin Sun raised concerns about the company’s solvency and its ability to honor client redemptions.

“I strongly recommend that users take immediate action to secure their assets. There are significant …

Full story available on Benzinga.com

Legendary stock picker Warren Buffett has refused to include cryptocurrencies, including Bitcoin (CRYPTO: BTC), in his firm Berkshire Hathaway Inc.’s (NYSE:BRK) (NYSE:BRK) portfolio, but the holding company, interestingly, has exposure to a firm that pitches the apex cryptocurrency as an inflation hedge.

What happened: According to the latest 13F filing, Berkshire Hathaway holds 433,558 shares of financial services company Jefferies Financial Group Inc. (NYSE:JEF), worth nearly $34 million.

The New York City-headquartered firm operates in investment banking and capital markets, and asset management businesses.

Notably, Jefferies holds a sizeable stake in iShares Bitcoin Trust ETF (NASDAQ:IBIT), the world’s largest spot exchange-traded Bitcoin fund. Filings with the SEC revealed that …

Full story available on Benzinga.com

Gold prices hit a new all-time high Wednesday as investors sought refuge in the safe haven following President Donald Trump’s sweeping tariffs that sent risk-on markets falling.

What happened: Spot gold rose 0.46% to $3,148.93 per ounce as of this writing, down slightly from the peak of $3,167 recorded earlier in the day. Gold futures on the Commodity Exchange were up 0.15% to $3,171. 

With the latest uptick, the yellow metal extended its year-to-date gains to 20%.

The rise also boosted physical gold-backed cryptocurrencies. Tether Gold and PAX Gold rose 1.02% in the last 24 hours and over 20% since 2025 began.

In fact, the two cryptocurrency derivatives of gold were among the …

Full story available on Benzinga.com

Popular dog-themed cryptocurrency Dogecoin (CRYPTO: DOGE) fell Wednesday after President Donald Trump’s tariff shock, extending its weekly losses to over 16%.

What Happened: The world’s largest meme reversed from the highs of  $0.1787 to the mid-$0.1600 region as the new reciprocal tariff structure exceeded Wall Street’s worst-case expectations, sending stocks and cryptocurrencies tumbling.

DOGE has made a sharp U-turn since hitting $0.20 last week, losing more than 16% along the way. The price decline dampened speculative interest in the coin, causing the Open Interest in DOGE futures to fall 24% over the week, …

Full story available on Benzinga.com

Tim Stokely, the founder of OnlyFans, and a cryptocurrency foundation have joined forces to place a late-stage bid for the acquisition of TikTok’s U.S. operations from ByteDance.

What Happened: The bid was put forth this week by Zoop, Stokely’s latest venture, and the HBAR Foundation, which manages the Hedera (CRYPTO: HBAR) blockchain network, according to details shared with Benzinga.

The official X account of HBAR also posted a cryptic message with the TikTok logo and reposted media reports about the bid. Zoop didn’t immediately return Benzinga’s request for a comment.

See Also: AVAX To Outperform Bitcoin, Ethereum, Reaching $250 By 2029: Standard Chartered

“We are committed to ensuring TikTok’s U.S. operations remain under American ownership and governance,” said RJ Phillips, Zoop …

Full story available on Benzinga.com