Cryptocurrency Live News & Updates : Uniswap Faces Price Pressure Amid Whale Activity
Uniswap's token price has surged recently, but indicators suggest a possible decline as whale buying increases and exchange supplies rise. Uniswap's recent price surge to $7.55 has raised concerns as technical indicators hint at a potential pullback, especially with rising exchange supplies signaling possible selling pressure. Meanwhile, Sequans Communications has made headlines by reallocating $384 million into Bitcoin, marking a significant corporate shift towards cryptocurrency. This move reflects a growing trend among traditional finance entities embracing digital assets. In the broader market, Bitcoin has crossed the 109,000 USDT mark, indicating a steady increase. Additionally, Core Scientific's stock has been downgraded to neutral due to its acquisition by CoreWeave, which adds complexity to its operations. Lastly, Elon Musk's announcement of the America Party, which aims to embrace Bitcoin, raises questions about the future of cryptocurrency in political discourse. Musk's fluctuating stance on Bitcoin, particularly regarding its environmental impact, continues to attract attention as he seeks to align his political ambitions with eco-friendly initiatives. Together, these developments highlight the dynamic interplay between cryptocurrency and traditional finance, as well as the evolving narrative surrounding digital assets. Show more
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Musk won't be a political kingmaker. Why Trump is still worried.
Elon Musk has railed against what he calls the 'uniparty' since ending his service as an advisor to President Donald Trump in May. Elon Musk says his new political party will take on the Washington establishment of both Democrats and Republicans. In reality, he's more likely to take votes away from Republicans, potentially worsening their problems in the coming midterms. Even before Musk's threat of a new party, the Republicans faced a tough battle to retain control of the House and possibly the Senate in 2026. If Musk is able to pry away Republican votes in a few hotly contested districts, he could undermine GOP control of Congress and make it harder for President Donald Trump to pull off his agenda. Musk's new party could even spend its way into a few congressional seats. But his vision of himself as a centrist kingmaker isn't likely to come to pass. Musk has increasingly voiced frustration with Washington's approach to debt and other issues since his stint as an advisor to President Trump ended in May. His feelings boiled over on July 4, when Trump signed his policy megabill into law. Musk said he was starting a new party, called simply America, then and there, though he has yet to file paperwork with the Federal Election Commission. That was a turnaround from February, when Musk posted on his social-media network X that he loved Trump 'as much as a straight man can love another man." Trump blamed the falling out with Musk on the new law's cuts to electric-vehicle subsidies, which could hurt Tesla, where Musk is CEO. Musk insists the problem isn't his own money, but the nation's. Musk set up his Department of Government Efficiency to cut costs. But the new law swamped any of DOGE's gains from Musk's perspective. 'What the heck was the point of @DOGE if [Trump is] just going to increase the debt by $5 trillion??" Musk wrote on X. The nonpartisan Congressional Budget Office puts the 10-year cost lower, at $3.3 trillion. Musk's feed has since been full of charts of debt rising under both parties' presidencies. 'When it comes to bankrupting our country with waste & graft, we live in a one-party system, not a democracy," he wrote. He shared a meme account's image of a two-headed snake dubbed the uniparty, a facetious name for the idea that Republicans and Democrats are either secretly in cahoots or just aren't meaningfully different on important policy issues. When it comes to the debt, Musk has a point. Debt has ballooned to 100% of gross domestic product since President Bill Clinton briefly balanced the budget in the 1990s. Trump's policies in his first term added $8.4 trillion, while President Joe Biden's added $4.3 trillion, according to an estimate by the Committee for a Responsible Federal Budget, a nonprofit budget-watching group. Fixing the debt is now at the top of Musk's new political platform. To make it a reality, Musk says he will target eight to 10 House of Representative races and two to three Senate seats. Musk was born in South Africa and isn't eligible to run for president. What else Musk would do is hazy. He criticized the megabill but didn't articulate a clear alternative for how he would balance government taxation and spending. He has said on X that he agrees with a policy platform that is supportive of tech, free speech, less regulation, military modernization, and 'pro natalist" ideas (Musk has had at least 14 children with four women, The Wall Street Journal reported.) For a third party to have a shred of a chance, it needs to find something that voters care about but aren't getting from Washington. 'The most successful third parties in the U.S. have been those that exploit a policy position that has strong support in the electorate but that neither of the major parties can adopt," writes political scientist Jonathan Bernstein in his Good Politics/Bad Politics newsletter. As much as Americans like to complain about the debt, few are willing to stake their votes on it. If voting against debt were popular, there wouldn't be a debt disaster to solve in the first place. To be sure, Musk can pick targets of opportunity. Republican Sen. Thom Tillis opted to retire from politics after declining to support Trump's bill, leaving a Senate seat open in North Carolina. That will be a tempting target. But battleground races like North Carolina will also be priority targets for Republicans and Democrats. 'Both parties will be pouring resources into those elections," Bernstein writes. 'Voters in those districts will be most likely (all else equal) to vote based on their preference for congressional majorities, and most averse to 'wasting" their vote on a third-party candidate." Musk is the world's wealthiest person, of course, which means he can't be ruled out entirely. His money will help him overcome challenges like the need to collect signatures to get access to ballot lines. But even Musk's deep pockets may not be enough to change voters' impressions of him. A YouGov poll conducted this week found that he is popular with Republicans, but unpopular with everyone else. He is viewed favorably by 39% of independents and 15% of Democrats. That means Musk's best targets will be seats in Republican-held districts. 'He could play the spoiler, siphoning enough votes to cost Republicans key seats, thereby sending a powerful message to the party and potentially shifting control of both chambers towards the Democrats," writes George Pollack, senior analyst with research firm Signum Global Advisors in a note to clients. Doing so would risk setting off a political war with the president, who remains hugely popular among Republican voters. Trump has mused about deporting Musk, and canceling contracts held by his firm SpaceX. Republicans are already in a delicate position for 2026. Incumbent parties routinely lose seats, particularly in the closely divided House, in midterm elections. 'Third parties have always been good for me," Trump said at a cabinet meeting Thursday. 'I don't know about Republicans, but for me." Write to Matt Peterson at
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an hour ago
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Elon Musk's xAI restricts Grok after anti-semitic, pro-Hitler posts on X. Here's what happened…
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2 hours ago
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Bitcoin may hit $140k-$145k by Nov 2025: Sumit Gupta, Co-founder, CoinDCX
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