Day: April 16, 2025

Russia’s Finance Ministry Proposes Ruble-Pegged Stablecoin

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Russia’s Finance Ministry calls for a ruble-based stablecoin to reduce reliance on U.S dollar-backed stablecoins.

 

Russia, a member of the BRICS economic alliance, has been vocal on the concept of de-dollarization as a way of minimizing U.S dominance on the global economy. In addition to U.S. sanctions over the Russia-Ukraine War, the country also saw its wallets holding over $30 million in USDT frozen.

As a result, Osman Kabaloev, a senior officer in the Ministry of Finance, has proposed a ruble-pegged stablecoin in a move to strengthen Russia’s financial independence. However, the Bank of Russia opposes the idea of private stablecoins while promoting its digital ruble.

 

What does this mean for Russia?

The recent development in Russia’s Ministry of Finance is a step toward wider crypto adoption in its regulated crypto space. The growing split between central regulators and advocates of innovation could open more opportunities for crypto enthusiasts in Russia.

Similarly, this comes a challenge to Russia’s crypto strategy as the country minimizes exposure to western financial control.

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partyushgoyal

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Panama City Council to Accept Crypto for Payments

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Panama City Council has made history as the first-ever public government body to accept crypto for official payments, following years of legislation back-and-forth.

 

Crypto enthusiasts in Panama City are filled with optimism following the city’s decision to accelerate crypto adoption in the economy. The city council voted in favour of this, allowing a partnership with banks to facilitate crypto transactions.

The financial hub of Latin America uses the U.S dollar as a legal tender while hosting over 70 international banks. According to Mayer Mizrachi on X (formerly Twitter):

 

Panama City council has just voted in favor of becoming the first public institution of government to accept payments in Crypto. Citizens will now be able to pay taxes, fees, tickets and permits entirely in crypto starting with BTC, ETH, USDC, USDT.

 

Adding to its favourable tax regulations, using crypto for official payments is a boost to crypto adoption globally. With big global financial institutions integrating crypto payments in the city, the market could see this ripple to other cities where they operate.

 

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partyushgoyal

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Tron (TRX) Holds THIS Support amid Positive Q1 Growth

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Tron bulls hold strong at the $0.2500 support zone, anticipating a price upsurge as TRON DAO announces gas-free USDT transfers.

 

Tron has flipped its previous resistance at the $0.2500 level, turning it into a strong support. Additionally, the coin saw renewed buying interest following its announcement of gas-free USDT transfers.

According to a report by Messari, the TRON network has recorded a 2.7% revenue increase alongside a 6.5% growth in active addresses in Q1 2025. Additionally, USDT stablecoin has gained 99.3% dominance on the network.

 

 

Source: Messari

TRX signals strength in the charts and its fundamentals. The coin could be poised for a price uptrend in the mid-term as bullish momentum strengthens.

With a 3.02% price upsurge in the past 24 hours, at press time, Tron signals high potential. Traders should observe the open interest and buying pressure at this support to understand Tron’s movement in the next few days.

 

 

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partyushgoyal

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Stripe to Integrate Crypto Businesses in its $91B Infrastructure

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Stripe, the giant internet financial infrastructure with over 1.2 million users, plans to serve Bitcoin and Crypto Businesses.

 

Cryptocurrencies face mainstream adoption faster than expected in 2025 as institutional interest increases. Stripe, a company that provides payment processing software and APIs to businesses, has revealed its intention to serve Bitcoin and crypto businesses.

With its huge customer base of over 1.2 million users, the crypto market could see new players boosting adoption. According to a recent post on X (formerly Twitter) by renowned Crypto enthusiast, Ash Crypto:

 

$91 billion Stripe, with 1.2 million users, is planning to serve Bitcoin and Crypto Businesses.

 

 

With Blackrock buying $37 million worth of BTC and Abraxas Capital (worth $3 billion) buying BTC worth $63.48 on the 15th of April, there is a clear sign of serious mainstream Bitcoin adoption.

With growing favourable regulatory compliance policies, the crypto market could see brighter days ahead. Blockchain technology could fuse with diverse aspects of daily life as the freedom associated with decentralization becomes popular.

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partyushgoyal

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Ethereum Weakens as SEC Delays Grayscale’s ETF Approval

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U.S Securities and Exchange Commission has postponed Grayccale’s Ethereum ETFs while the coin approaches a critical support.

 

On April 14th, the U.S. Securities and Exchange Commission(SEC) released a notice citing the postponement of  Grayscale’s Ethereum ETFs approval to the 1st of June. Following this notice, ETH has been facing significant bearish pressure as investors watch closely. Ethereum is trading at $1586 as of press time, per CoinMarketCap data.

According to technical analysis by Ali Martinez on X (formerly Twitter) Ethereum is breaking below its ascending triangle on the hourly chart.

 

Source: X

 

With  heavy pockets sitting below this level, liquidations could trigger more downside as bearish momentum persists. One should watch out for  whale activity, trading volume and momentum at the $1550 level for further insights.

 

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Mantra(OM) CEO to Burn 100% of Team Tokens to Restore Trust

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Mantra CEO JP Mullin has announced a plan to burn 100% of the team allocation tokens to win back the trust of the project’s vast community.

 

April 15th—Mantra CEO JP Mullin has sparked debate in the crypto space regarding the team’s innocence in the recent OM token crash. In a surprising turn of events, Mullin has declared that he is planning a burning strategy for 100% of the team’s allocation tokens. According to his X(formerly Twitter) post:

 

The teams token allocation are actually vesting only starting in 2027, which is 30 months from mainnet launch (Oct. 24). I’m planning to burn all of my team tokens and when we turn it around the community and investors can decide if I have earned it back.

 

This follows allegations of insider trading and manipulations leading to massive liquidations of traders’ positions. However, according to Mullin’s recent interview:

 

We did not sell a single OM… The team also did not get liquidated… We don’t have leveraged positions on exchanges…we don’t do that.

 

He also stated that he will create a “comprehensive burn program” for other parts of the OM supply. Some crypto enthusiasts believe burning 100% of the team allocation could lower their morale.

However, Mullin’s announcement is a step towards desirable accountability and leadership in the crypto space.

 

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