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Bitcoin Tops $88,000 as Over $97 Million in Shorts Liquidated Following Trump’s Threat To Fire Fed Chair

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.

Crypto Advocate Paul Atkins Officially Sworn in as SEC Chairman

The U.S. Securities and Exchange Commission announced Monday that Paul Atkins was officially sworn into office as the 34th chair of the commission.

Atkins, who is a long-time supporter of crypto, was nominated by President Donald Trump on Jan. 20, and confirmed by the Senate earlier this month.

"As I return to the SEC, I am pleased to join with my fellow Commissioners and the agency’s dedicated professionals to advance its mission to facilitate capital formation; maintain fair, orderly, and efficient markets; and protect investors," Atkins said.

The new SEC chairman is expected to spearhead efforts at the commission to establish clear and agreeable regulations around crypto.

Saylor's Strategy Buys 6,556 Bitcoin for $555 Million

Michael Saylor’s Strategy announced today that the company had purchased another 6,556 Bitcoin at an average price of $84,785 between April 14 and 20, spending around $555 million on the coins.

The purchase was funded through proceeds from Strategy’s Common ATM equity offering and Series A perpetual convertible preferred stock offering. Between April 14 and 20, the company sold 1.7 million MSTR shares and over 91,200 STRK shares, generating total net proceeds of over $555 million, as detailed in a Monday SEC filing.

As of April 20, Strategy still has over $1.5 billion in MSTR shares and nearly $21 billion in STRK shares available for future issuance and sale.

WazirX Nears Comeback as Singapore Court Sets May Hearing on $234M Restructuring Plan

WazirX, the crypto exchange crippled by a massive hack last year, said it will be on track to resume operations and make its first payments to creditors following a court hearing in Singapore next month.

The company announced on Monday that its parent company, Zettai, has completed all necessary steps leading up to a May 13 sanction hearing at the Singapore High Court, where Zettai is based. 

The court will decide whether to approve the company’s restructuring and user compensation scheme.

“While we’ve worked to stay aligned with the previously shared timelines, court proceedings operate independently, and we respect that process,” WazirX said in a statement on X. 

SEC Faces More Than 70 Crypto ETF Filings—Including XRP and Dogecoin

Incoming SEC Chair Paul Atkins will have more than 70 crypto ETF hopefuls to review when he begins in the role.

Funds pegged to Dogecoin, Pengu, Solana, XRP, and the Melania meme coin are all in the mix.

After punting on XRP ETFs in March, the agency can delay its final decision until mid-October.

Bitcoin Spot ETF Flow

The overall net inflow of the US Bitcoin spot ETF on Monday was $381.4 million. The total net asset value of Bitcoin spot ETFs is $97.61 billion, and the ETF net asset ratio (market value compared to total Bitcoin market value) is 5.63%.

Source: SoSoValue

The Bitcoin spot ETF with the highest net inflow on April 21 was ARK 21Shares Bitcoin ETF (ARKB), with a net inflow of $116.13 million. Following that was Fidelity Wise Origin Bitcoin Fund (FBTC), with a net inflow of 87.61 million, according to SoSoValue.

Source: SoSoValue