Bitcoin, Gold Surge as Crypto Faces New Regulation
Key Takeaways
- Bitcoin (BTC) reaches new April high at $88,800 USD
- Gold climbs to record value of $3,500 USD per ounce
- Trump criticizes U.S. Federal Reserve and threatens to fire Jerome Powell
- Circle unveils new payment system – a rival to SWIFT and Ripple
- XRP once again under scrutiny by U.S. regulators
- Paul Atkins appointed new SEC Chair, announces pragmatic crypto regulation
Bitcoin and Gold Benefit from Political Uncertainty
Tensions between former U.S. President Donald Trump and the Federal Reserve are having direct effects on financial markets. While U.S. stocks and the dollar come under pressure, Bitcoin and gold are seeing significant gains. BTC reached a new monthly high of $88,800 USD just before U.S. markets opened. Gold also surpassed a historical high, trading at $3,500 USD per ounce.
According to QCP Capital, investors are increasingly fleeing traditional U.S. assets such as stocks and government bonds. Concerns about the Fed’s independence are driving capital into so-called “safe havens” like Bitcoin and gold.
Trump Criticizes Fed – Market Reacts Nervously
Donald Trump accused Fed Chair Jerome Powell of reacting too slowly to economic developments. He even threatened to remove Powell before the end of his term. These statements led to a loss of confidence in the U.S. dollar and put pressure on equity markets. Cryptocurrencies, on the other hand, benefited from the uncertainty.
Circle Launches Rival to SWIFT
The company Circle, known for the USDC stablecoin, has introduced a new cross-border payment system: the Cross-Border Payment Network (CPN). The goal is to process international payments faster and more cost-effectively than existing providers like SWIFT or Mastercard.
According to Circle, banks and payment service providers will be able to transfer money in real time using CPN – in fully backed digital dollar and euro units. Currently, a SWIFT transfer can take up to three days and costs an average of 6% in fees. Industry experts see CPN as a serious alternative to existing systems.
Regulatory Pressure on XRP Increases
Ripple and its associated token XRP are once again facing regulatory pressure. The Attorney General of Oregon has filed a complaint against Coinbase, alleging that XRP, Solana (SOL), and 29 other cryptocurrencies were traded as unregistered securities.
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Coinbase has denied the allegations, citing a previous court ruling which stated that XRP sales only qualify as securities transactions when directed at institutional investors. Nevertheless, legal uncertainty surrounding XRP remains.
New SEC Chair: Hope for the Crypto Industry
Paul Atkins was sworn in as the new Chair of the U.S. Securities and Exchange Commission (SEC) on April 23, 2025. During his Senate confirmation hearing, he already announced a “rational” approach to cryptocurrency regulation.
Industry insiders like Nate Geraci of ETF Store expect that under Atkins’ leadership, applications for crypto ETFs – especially those involving Ethereum staking – will be processed more swiftly. The crypto community is hopeful for greater clarity and predictability in regulatory decisions.
Our Assessment
The current developments highlight how strongly political and regulatory events influence the crypto markets. Bitcoin and gold are benefiting from uncertainty and inflation fears. At the same time, infrastructure projects like the one from Circle could bring lasting changes to the industry.
For you as an investor or someone interested in the space, this means: Keep an eye not only on price movements but also on political decisions and regulatory trends. The appointment of Paul Atkins could signal greater openness toward digital assets – but it remains to be seen how his policies will play out in practice.
Sources
- Bitwise
- QCP Capital
- Castle Island Ventures
- ETF Store
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