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Bitcoin surged past $88,000 on Monday before settling around $86,800, marking its highest price since late March. The jump followed a sharp drop in the U.S. dollar, which hit a three-year low amid rising concerns over political interference in the Federal Reserve. Over the past 24 hours, data from CoinGlass showed more than $97 million in Bitcoin short positions were liquidated. Total liquidations across all cryptocurrencies approached $180 million, with Ethereum shorts accounting for over $26 million. The dollar’s decline came after President Donald Trump intensified his criticism of Federal Reserve Chair Jerome Powell. Trump wrote on Truth Social that…

Bitcoin’s recent surge, briefly surpassing $87,700, follows a weakening U.S. dollar and speculation around upcoming Treasury buybacks. Arthur Hayes, co-founder of BitMEX and CIO of Maelstrom, predicted this could be the “last chance” to buy Bitcoin for less than $100,000, as the U.S. Treasury repurchasing its own debt may inject more liquidity into the market. Hayes referred to these buybacks as a “bazooka” for Bitcoin’s price, which could push it well past the $100,000 barrier. The rise in Bitcoin’s price has also been supported by macroeconomic conditions, including the weakening U.S. dollar, which reached its lowest point since March 2022.…

Cryptocurrency companies in the U.S. are moving towards becoming more integrated with traditional finance by seeking banking licenses and preparing for potential stablecoin regulations. Circle and BitGo are among the firms working on applications for U.S. bank charters. Coinbase and Paxos are reportedly exploring similar steps. These efforts come as Congress debates new laws that would impose stricter rules on stablecoin issuers, aiming to regulate how these dollar-pegged digital tokens are managed. BitGo is applying for a full banking charter, which would allow it to offer services such as deposits and loans. The company is also involved with USD1, a…

Bitcoin and the rest of the crypto market surged at the start of this week as President Trump engaged in a Ethereum and Dogecoin have both gained 3% within the past 24 hours. “Bitcoin’s move above $87,000 is a clear signal that investors are seeking refuge in decentralized assets amid rising tariffs, inflation concerns, and global economic uncertainty,” Nicholas Roberts-Huntley, CEO of crypto companies Concrete and Glow Finance, tells Fortune. The crypto market’s gains come amid Trump’s threats to fire Federal Reserve Chair Jerome Powell for not lowering interest rates as quickly as he would like. The feud has raised…

Bitcoin made winning headlines after Trump’s election win, only to end the first quarter of 2025 in the red. From the start of 2025, Bitcoin registered a shakiness, weighed down by speculation that the Fed may have limited scope for further interest rate cuts. In early March, there was an executive order by Donald Trump to establish a strategic Bitcoin reserve for the United States. The reserve will be funded using Bitcoin seized in criminal and civil forfeiture cases, with no plans for the U.S. government to purchase additional Bitcoin at this time. Investors found the move underwhelming. The recent…

Bitcoin (BTC-USD) surged as much as $88,000 on Monday while stocks tanked, prompting one Wall Street strategist to note that the world’s largest cryptocurrency has outperformed the Nasdaq Composite (^IXIC) against the backdrop of a trade war. “Bitcoin outperformance to Nasdaq has been striking all through the U.S tariffs crisis – Bitcoin is down 10% YTD vs. Nasdaq down 16% YTD,” Bernstein managing director Gautam Chhugani wrote on Monday before the market open. “We expect Bitcoin and broader global blockchain assets to play a defining role, amidst the deglobalization trends.” Read more: The latest news and updates on Trump’s tariffs…

The headquarters of the Department of Education on March 12, 2025 in Washington, DC.Win McNamee | Getty ImagesThe U.S. Department of Education announced Monday that its Office of Federal Student Aid will resume “involuntary collections” on May 5 for federal student loans that are in default. Collections will be made through the so-called Treasury Offset Program, which can reduce or withhold payments from the government — such as tax refunds, Social Security benefits, federal salaries and other benefits paid through a federal agency — to satisfy a past-due debt to the government.”American taxpayers will no longer be forced to serve…

Hertz (HTZ) shares tumbled 11% Monday morning, giving back gains from last week’s rally sparked by Bill Ackman’s hedge fund taking a significant position in the rental car giant. Ackman, the CEO of Pershing Square Capital Management, shared on social media that his company had built a 19.8% stake in Hertz after accumulating shares since late last year. Hertz stock surged on Wednesday after Pershing Square disclosed its 12.7 million share stake, fueling investor speculation about the high-profile fund’s view of the struggling company. The rental company reported a loss of nearly $2.9 billion in 2024. Hertz attributed the disappointing…

No, really. Where is the best place to store your money? According to a survey conducted by Piere, an AI-powered financial management app, found that the average American stashes $544 in cash or valuables at home. Wanting to keep your money safe is fine. But hoarding it in the wrong places could do more harm than good. Think about the story back in 2009 where CNBC reported that a woman didn’t realize her mother stashed $1 million in cash in an old mattress that she threw away. Check Out: 3 Signs You’ve ‘Made It’ Financially, According to Financial Influencer Genesis…

A person holds a sign during a protest against cuts made by U.S. President Donald Trump’s administration to the Social Security Administration, in White Plains, New York, U.S., March 22, 2025. Nathan Layne | ReutersA federal judge has once again blocked Department of Government Efficiency staffers, operating inside the Social Security Administration, from accessing sensitive personal data of millions of Americans.U.S. District Judge Ellen Lipton Hollander on Thursday granted a preliminary injunction to block the so-called DOGE from further accessing sensitive personal data stored by the agency. As a result, DOGE will have to comply with certain legal requirements when accessing…