Top Stories of The Week
Trader who made $190M shorting crash also apparently bet on CZ’s pardon
The anonymous crypto trader who supposedly made millions shorting the crypto market before US President Donald Trump’s tariff announcement appears to have profited again by betting that Trump would pardon the founder of Binance.
Onchain sleuth Euan pointed to Etherscan data to make the connection between the trader and the Polymarket account. The crypto wallet reportedly made $56,522 on Polymarket by betting that Trump would pardon Changpeng “CZ” Zhao sometime in 2025.
The crypto trader had already been suspected in crypto circles of having access to insider knowledge after their tightly timed Bitcoin and Ethereum shorts, just hours before Trump’s tariff announcement sent prices falling.
Rumble partners with Tether to add Bitcoin tips for content creators
Video-sharing platform Rumble is preparing to roll out Bitcoin tipping for its more than 51 million monthly active users, the company’s CEO Chris Pavlovski announced on Friday.
Rumble has teamed up with stablecoin issuer Tether to enable Bitcoin tipping, Pavlovski said onstage at the Plan ₿ Forum in Lugano, Switzerland.
“Right now, we’re in the testing phase [but] we’re going to start rolling that out alongside Tether here in the coming weeks,” he added.
Also onstage was Tether CEO Paolo Ardoino, who expects a full rollout by early to mid-December once small bugs are fixed and the UX is finessed.
‘Crazy stuff’ needed for Bitcoin to reach $250K this year: Novogratz
Planets would almost need to align for Bitcoin to reach $250,000 by the end of the year, according to Galaxy Digital CEO Mike Novogratz.
Several crypto executives have recently doubled down on their $250,000 Bitcoin predictions by year-end.
“The end of the year is only two and a half months away,” Novogratz said during an interview with CNBC on Wednesday, adding: “There would have to be a heck of a lot of crazy stuff to really get that kind of momentum.”
Arthur Hayes calls for $1M Bitcoin as new Japan PM orders economic stimulus
Japan’s new Prime Minister, Sanae Takaichi, announced a package of economic stimulus measures on Tuesday to ease the impact of inflation on households. The move, some crypto observers said, may drive more capital into Bitcoin.
The stimulus measures include subsidies for electricity and gas charges, as well as regional grants to ease price pressure and encourage small to medium-sized businesses to raise wages.
BitMEX co-founder Arthur Hayes viewed the development as a precursor to more fiat money printing by Japan’s central bank, which may catalyze Bitcoin’s rise to $1 million.
“Translation: let’s print money to hand out to folks to help with food and energy costs,” said Hayes in a Tuesday X post, adding that this dynamic may see Bitcoin rise to $1 million, while triggering a rise in the Japanese yen.
Prediction markets hit new high as Polymarket enters Sam Altman’s World
World co-founder and OpenAI CEO Sam Altman’s digital identity project, formerly known as Worldcoin, is expanding into prediction markets by integrating Polymarket.
World App, a mobile application that combines a digital wallet with World’s decentralized identity tool, World ID, has integrated the Polymarket App, the company announced on Tuesday.
“World App users can download and access the new Mini App today in countries where Polymarket’s services are permitted,” the announcement said.
Winners and Losers
At the end of the week, Bitcoin (BTC) is at $111,265 Ether (ETH) at $3,932 and XRP at $2.60. The total market cap is at $3.61 trillion, according to CoinMarketCap.
Among the biggest 100 cryptocurrencies, the top three altcoin gainers of the week are Humanity Protocol (H) at 224.39%, Virtuals Protocol (VIRTUAL) at 80.72% and ZCash (ZEC) at 28.45%.
The top three altcoin losers of the week are Plasma (XPL) at 7.93%, PancakeSwap (CAKE) at 5.91% and TRON (TRX) at 5.03%.
For more info on crypto prices, make sure to read Cointelegraph’s market analysis.
Most Memorable Quotations
“If Congress does not stop this kind of corruption, it owns it.”
Elizabeth Warren, US senator
“So the most likely outlook is we’re rangy between 100 and 120 or 125, unless we take out the top side.”
Mike Novogratz, CEO of Galaxy Digital
“Bitcoin is forming a rare broadening top on the charts. This pattern is famous for tops.”
Peter Brandt, veteran trader
“Sometimes we’re literally selling 50 million an hour or 100 million an hour and buying the $100 million of Bitcoin the same hour.”
Michael Saylor, executive chairman of Strategy
“So what happens there is the AI analyzes where you are, looks at the geography of what retailer [is nearby] and determines that that’s the one, and then uses a blockchain to actually do a…
cointelegraph.com