Richard Teng said Binance "didn’t partake" in the decision for an Abu Dhabi-based company to use World Liberty Financial's USD1 for a $2 billion investment into the exchange. Richard Teng, CEO of the global cryptocurrency exchange Binance, has reportedly denied allegations that the company played a role in selecting a stablecoin issued by a Trump family-backed crypto business as part of a multibillion-dollar deal. According to a Tuesday CNBC report, Teng said Binance “didn’t partake” in the decision to use USD1, the stablecoin launched by the Trump family’s World Liberty Financial business, for a $2 billion deal with an Abu Dhabi-based company, MGX. The Binance CEO spoke amid scrutiny from many lawmakers after US President Donald Trump issued a pardon for former CEO Changpeng “CZ” Zhao, leading to allegations of corruption and “pay for play” politics. Read more
10x Research says Ethereum faces structural risks as Bitcoin draws most institutional capital, making ETH a potential hedge short amid market caution. As Bitcoin continues to attract institutional treasury capital, Ethereum-focused companies are beginning to run out of dry powder, making the asset a potential shorting opportunity for investors looking to hedge their exposure to the digital asset sector. That was one of the key takeaways from a recent 10x Research report, which argued that shorting Ether (ETH) could be a smart hedge against Bitcoin (BTC). According to the report, Bitcoin remains the primary focus for institutional investment, while Ether exhibits structural weaknesses. The analysts said that “digital asset treasury” narratives around Ethereum have led institutions to accumulate ETH and later distribute it to retail investors — a pattern now breaking down amid a lack of transparency in private investment in public equity (PIPE) disclosures and uncertain capital flows. Read more
Bitcoin price plummets to new lows, but analysts say BTC fundamentals show the asset trading at a deep discount. Key takeaways: Bitcoin’s decline mirrors Nasdaq weakness but lacks a fundamental justification. Spot BTC ETF inflows have cooled but remain net positive, showing resilient investor demand. Read more