Bittensor (TAO) experienced a significant price drop on Friday, falling 25.6% from $340 to a low of $253, according to crypto.news. This decline wiped out nearly $900 million in market value. Currently trading at $266.7, the token’s price hasn’t been this low since mid-March.
But before we get lost in the grand theatrics of international diplomacy, let’s take a brief look at the past weekend’s theatrics-on the war front, of course. The US and Israel were as busy as a beehive, striking numerous targets in Iran, while President Trump, ever the diplomat, issued an ultimatum for Iran to reopen the Strait of Hormuz or face a drastic escalation. 48 hours, he said. Naturally, the deadline was extended, just like any good suspense thriller.
Both organizations are now officially permitted to issue Hong Kong dollar-backed stablecoins. Naturally, this means that soon we can expect digital dollars backed by the same place we trust our physical ones-banks that have been around long enough to have their own folklore. The launches are anticipated in the coming months, which in bureaucratic time could be any time from tomorrow to the next ice age.
The gentlemen of finance pretend to wager on eighty thousand through call options, yet they clutch downside protection as one clutches a shawl in a draughty corridor.
Looking at the chart, the price of Bitcoin is trying to stay above the $71,400 support level. If it succeeds, it could quickly rise to meet the downward trendline, and then potentially break through the strong resistance around $74,000.
Things really came to a head for me this week, on April 7th, when Treasury Secretary Scott Bessent publicly criticized Coinbase on Fox News. He called them a “recalcitrant actor” and accused them of delaying important new legislation. This was in direct response to Coinbase CEO Brian Armstrong’s position that he’d rather see no bill passed than one with serious flaws. It’s a pretty significant disagreement playing out publicly.
Imagine, if you will, a clock ticking ever so ominously towards the year 2029, the supposed “deadline” by which quantum computers may unravel the very fabric of Bitcoin and Ethereum’s cryptography. The developers, those industrious souls, have rolled up their sleeves and set to work with a determination that would put even the most diligent housekeeper to shame.
According to the astute observers at Santiment, the Cardano network has lately displayed a remarkable, if belated, stir of engagement. Reports indicate a sudden surge in activity, implying that sentiment toward this beleaguered altcoin may, at last, be experiencing a revival.
The company is asking shareholders to approve a plan to combine its existing shares into fewer shares – likely between 1 share for every 20 and 1 share for every 50 – because its stock price has fallen dramatically to about $0.22. This represents a roughly 99% decrease from its highest price in May 2025.
quadrillion. At this rate, we might all need to start brushing up on how to count in the quadrillions.