Market is underestimating how quickly Bitcoin will hit new ATH: Analyst

Bitcoin will break past its $109,000 all-time high sooner than expected despite recent volatile US macroeconomic conditions, according to a crypto analyst.

The cryptocurrency market is quickly adjusting to the implications of US macroeconomic conditions. As the Biden administration continues to adjust its policies, the crypto sphere is closely following any developments in President Donald Trump’s pardons.

In this installment of Top Stories of The Week, we take a look at the latest from the crypto world.

Market is adjusting to Bitcoin hitting new ATH quickly: Analyst

The market may be underestimating how quickly Bitcoin (BTC) could surge—potentially hitting new all-time highs before Q2 is out, according to Real Vision chief crypto analyst Jamie Coutts.

“This forecast stands even if there is no more clarity on President Donald Trump’s tariffs and potential recession concerns,” Coutts said.

The analyst noted that the crypto market is used to pricing in events quickly and adapting accordingly.

“If we get good news, the market has already priced it in. If we get bad news, again, the market has already priced it in. But if nothing happens, then the market will move quickly.”

He added that people are expecting the U.S. administration to make changes quickly, especially after the rapid shifts in policy during the COVID-19 pandemic.

“We saw how decisively the U.S. government acted to bail out the banks in 2008. We can expect the same level of urgency in any future economic crises.”

Trump pardons 3 BitMEX co-founders — Report

Former U.S. President Donald Trump has reportedly issued pardons to three co-founders of the cryptocurrency exchange BitMEX, who had pleaded guilty to felony charges.

Trump granted pardons to Arthur Hayes, Benjamin Delo and Samuel Reed, who were facing a range of criminal charges, according to a March 28 report by CNBC.

Hayes and Delo pleaded guilty in February 2022, admitting they “willfully fail[ed] to establish, implement and maintain an Anti-Money Laundering program” at BitMEX, while Reed entered a plea a few weeks later.

The three co-founders were accused by the Department of Justice in March 2020 of knowingly failing to register BitMEX as a money services business with FinCEN and failing to implement any programs to prevent money laundering despite being required to do so by federal law.

The DOJ also accused the co-founders of operating a derivatives exchange in the U.S. without registering with the Commodity Futures Trading Commission.

The case began after a 2019 article in The Block highlighted how BitMEX lacked a required AML program despite being used by U.S. customers. After a year of legal battles, the case culminated in a guilty plea and a light sentence.

Ex-FTX CEO moved to transit facility after interview

Officials with the Federal Bureau of Prisons have moved former FTX CEO Sam Bankman-Fried to a transit facility days after political commentator Tucker Carlson interviewed him.

As of March 27, the bureau’s website showed Bankman-Fried was being housed at the Federal Transfer Center in Oklahoma City, suggesting he may be moved from the facility where he was incarcerated and then moving forward with an appeal of his conviction.

Carlson remotely interviewed Bankman-Fried, commonly known as SBF, from the Metropolitan Detention Center in Brooklyn, New York, on March 5—a reportedly unsanctioned event that resulted in the former FTX CEO being sent to solitary confinement.

The interviewee appeared in a darkened room with an unidentified interviewer off-camera. The interview was part of Carlson’s new show on the X, formerly Twitter, platform.

The interviewer asked questions in English, while Bankman-Fried responded in a deadpan tone.

UAE expects digital dirham rollout in Q4 2025

The United Arab Emirates expects its digital dirham central bank digital currency to roll out in the fourth quarter of 2025.

Central Bank of the UAE Governor Khaled Mohamed Balama said that the blockchain-based currency could improve financial stability and help combat financial crime, Khaleej Times reported.

According to the report, the retail sector could expect the issuance of a digital dirham in the last quarter of 2025.

“It [digital dirham] will further enable the development of innovative digital products, services, and new business models while reducing cost and increasing access to international markets,” Balama said.

The governor added that the digital dirham will be closely linked to other central bank digital currencies and that it will be used to facilitate cross-border payments.

Onchain sleuth accuses Crypto.com of CRO supply manipulation

Crypto.com faced backlash from the crypto community after it reissued 70 billion Cronos (CRO) tokens that were previously burned in 2021. According to critics, the move undermines the principles of decentralization and transparency in the cryptocurrency space.

The controversy arose on March 25 after pseudonymous onchain investigator