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Crypto News

Bitcoin Hovers at $85K as Fed’s Waller Suggests 'Bad News' Rate Cuts if Tariffs Resume

The largest cryptocurrency was up 1.86% in the last 24 hours and is now trading at $85,663.

The modest rally came as Federal Reserve Governor Christopher Waller signalling that a return of the original punitive Trump tariffs would trigger the need for sizable "bad news" rate cuts.

"[Tariff] effects on output and employment could be longer-lasting and an important factor in determining the appropriate stance of monetary policy," said Waller in a speech. "If the slowdown is significant and even threatens a recession, then I would expect to favor cutting the FOMC's policy rate sooner, and to a greater extent than I had previously thought."

South Korea Blocks Apps of Crypto Exchanges on Apple, Google Stores

South Korea’s top financial regulator has removed 14 crypto exchange apps from Apple’s App Store and 17 from Google Play, which includes major platforms like KuCoin and MEXC, as part of a crackdown on unregistered foreign operators.

The Financial Services Commission (FSC) announced Monday that the bans took effect on Google’s Play Store on March 25 and on Apple’s App Store on April 11.

"We are closely monitoring regulatory developments across all jurisdictions, including South Korea, and will fully cooperate with any regulatory requirements," a KuCoin spokesperson told Decrypt in an emailed statement.

Strategy Boosts Bitcoin Stash Above $45 Billion With Latest Buy

Strategy, previously MicroStrategy, disclosed acquiring 3,450 Bitcoin valued at $286 million last week, bringing their total to 531,644 Bitcoin worth $45.2 billion. The company also sold one million Class A common shares and can issue an additional $2 billion worth of shares.

Mantra Plummets 93%, Loses $5 Billion of Market Cap in 20 Minutes

Mantra, a real-world asset (RWA) Layer 1 blockchain, shockingly dropped by more than 90% in a matter of minutes on Sunday afternoon, with seemingly no explanation and no immediate communications.

The OM token went into freefall shortly after 2 pm EST, plunging from $5.5 to a low of $0.35. OM has since recovered slightly and currently trades at $0.69 per token, an 88% drop over the past 24 hours.

Bitcoin Spot ETF Flow

The overall net inflow of the US Bitcoin spot ETF on Monday was $1.47 million. The total net asset value of Bitcoin spot ETFs is $94.69 billion, and the ETF net asset ratio (market value compared to total Bitcoin market value) is 5.62%.

The Bitcoin spot ETF with the highest net outflow on Apr. 14 was iShares Bitcoin Trust , with a net inflow of $36.72 million.