Despite the market slump this week, some analysts predict that including digital assets in their US 401(k) retirement plans could unleash new influx of billions of dollars by fall, encouraging Bitcoin to hit highs.
The “bully” development could push Bitcoin (BTC) over $200,000 by the end of the year, and assumes a modest 1% portfolio allocation, signaling new capital worth $122 billion, Crypto Asset Manager’s European Research Director André Dragosch told Cointe Leger.
The acquisition of Corporate Bitcoin Treasury continues to attract new entrants, including NASDAQ-registered healthcare services provider and Bitcoin financing company KindlyMD, making its first Bitcoin investment of $679 million on Tuesday.
Other large investors are betting on the price rise of Ether (ETH) from Bitcoin. On Thursday, Bitcoin Zilla sent $189 million worth of BTC into a highly lipid-dispersed exchange, most of which turned into a permanent future long position of $295 million and subsequent spot ETH position of $240 million.
US 401(k) Resignation Plan Cryptography could drive Bitcoin to $200,000 in 2025
Inclusion of cryptocurrencies in US retirement plans marks a milestone in Bitcoin adoption, with assets above $200,000 could exceed $200,000 by the end of 2025, according to André Dragosch, Head of European Research at Crypto Asset Manager.
By signing an executive order on August 7, President Donald Trump paved the way in which cryptocurrency is included in his US 401(k) retirement plan, giving Americans access to digital assets through his retirement plan.
According to Dragosch, the inclusion of Crypto in the 401(k) plan could be even more important for Bitcoin (BTC) prices.
This “bully” development could be “largest than the US Bitcoin ETF approval itself,” indicating an additional $122 billion worth of new capital, while assuming a 1% modest 1% portfolio allocation.
“Official forecasts remain at $200,000 by the end of the year.”
“If you look at the restraining retirement plans defined in the US as 401(k), they’re huge,” Dragosh said.
By including digital assets in your retirement plan, 401(k) portfolio managers can invest in Bitcoin ETFs. This will push Bitcoin prices to a new all-time high, flashing another optimistic signal of Bitwise’s $200,000 Bitcoin price target at the end of 2025.
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The Kanye West Yzy Sniper wallet is linked to the $21 million Libra extraction scheme: Analyst
A contraceptive on-chain investigation by a pseudonymous analyst linked Kanye West-themed token Yzy into another wallet behind the Libra token, suggesting that the same operator used insider knowledge to extract millions of dollars.
In a series of X posts on Thursday, the evacuation revealed that Yzy Sniper wallets bought $250,000 worth of tokens for just $0.20, far below the price most traders paid. Within minutes, the wallet secured more than $1 million in profits, which was later poured into the Treasury wallet.
The same Treasury wallet also received a large sum from the wallet linked to the release of Libra six months ago. Two “Libra Sniper” wallets extracted a total of $21 million. In total, nearly $23 million was withdrawn across the Yzy and Libra launches, and funds were later moved to Kamino or Binance.
“I can be sure this is someone with clear inside information,” writes Dethective. “The evidence is that he didn’t snipe the coins other than $yzy and $libra, and he was prepared in a huge size,” they added.
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$250 million SPAC targeting Defi, ai Bitcoin Bull and Billionaire Files
Early Bitcoin investor and billionaire Chamas Parihapitiya has submitted to raise American Exceptionalism Acquisition Corp A, a $250 million blank checking company targeting decentralized finance, AI, energy and defense sectors.
The Special Purpose Acquisition Company (SPAC) will be led by Social Capital Managing Partner Stephen True as CEO and by Parihapitiya as chairman, according to a registration statement filed with the U.S. Securities and Exchange Commission on Monday.
The $250 million salary increase aims to provide 25 million shares for $10 each under the New York Stock Exchange’s Ticker AEXA.
Palihapitiya and Trieu are focusing on solutions that lead the next wave of financial innovation, betting on distributed finances rather than bitcoin, and bridge traditional markets to blockchain technology.
“Palihapitiya has long been a supporter of Bitcoin as an inflation hedge and, as an alternative to Fiat currency, considers the next phase of development to be an increase in traditional and decentralized fiscal integration.”
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Former White House Director Bohines plays the role of tether advisory
Stablecoin Giant Tether hires former White House Crypto Council executive director Bo Hines as new strategic advisor for digital assets and US strategy, driving the expansion of the world’s largest economy.
According to a Tuesday announcement shared with Cointe Legraph, Tether, publisher of USDT (USDT) Stablecoin, has appointed Hines to directly engage and coordinate Hines as part of their immediate focus.
Hines previously served in President Donald Trump’s administration, where he worked on initiatives to promote digital assets innovation, setting guardrails for stubcoin issuers, and developing collaborations between the government and the blockchain industry.
In his new role, Hines will work with Tether’s leadership team to implement US market entry and develop “constructive relationships” with policymakers and industry stakeholders.
“A deep understanding of the legislative process, coupled with his passion for adopting actual blockchains, makes him an invaluable asset as Tether enters the world’s largest market,” added Tether CEO Paolo Ardoino.
“The appointment of BO demonstrates our commitment to building a strong, multi-sector US-based presence that starts with digital assets and expands into new opportunities, including a deep focus on further investment in domestic infrastructure.”
Tether Investments has already reinvested almost $5 billion in the US economy. The addition of Hines is aimed at “strengthening” this commitment and collaboration with the US market, the announcement said.
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Ecena surpasses $500 million in cumulative revenue as it acquires synthetic, ridiculous status
Ethena Labs said Thursday that Ethena Protocol generated more than $500 million in cumulative revenue. Growth in both revenue and the circular supply of its synthetic stable coin, Ethena USDE (USDE), has been accelerating since July, gaining market share in synthetic stability.
Ethena Labs shared the news via X’s post and said last week that protocol revenue reached $13.4 million, with USDE Supply reaching an all-time high of $11.7 billion.
“Ethena’s revenues are attributed to strong inflows into USDE and favorable market conditions that amplified returns from the Delta neutral hedge reserve model,” a spokesperson for Ethena Lab told Cointelegraph. “The momentum of the protocol reflects the growing demand and confidence in USDE as a valuable reservoir.”
According to Defilama, a decentralized finance analytics platform, Ethena USDE had the market capitalization of Stablecoins, the third largest at the time of writing. It also had the highest market capitalization among synthetic stubcoins. Over the past month, Ethena USDE’s market capitalization has risen by 86.6%.
In addition to Ethena USDE, other synthetic stubcoins have gained momentum and market share. Sky Dollar (USDS) is an upgraded version of Dai (Dai), powered by the Sky Ecosystem, with a 14% increase in market capitalization. Falcon USD (USDF), a synthetic dollar created by Falcon Finance, has jumped 89.4% in market capitalization.
Synthetic stupid stubcoins have risks and risks. Transaction costs may be low as they are not collateralized by physical assets. There is also the risk of instability and escape, which can lead to major investors’ losses.
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Overview of Defi Market
Most of the 100 largest cryptocurrencies by market capitalization ended in a week in red, according to data from CointeLegraph Markets Pro and TradingView.
MemeCoin Launch Platform Pump.Fun’s (Pump) Token marked the biggest weekly decline, with SPX6900 (SPX) tokens falling by more than 18% over the past week, falling by more than 22%.
Thank you for reading this week’s most impactful Defi development summary. See more stories, insights and education about this dynamic space next Friday.
