Investment Advisor Two Prime Dumps Ethereum for Bitcoin—Here's Why

Bitcoin's price rose to $97,000, up 0.4% in 24 hours, hitting $97,800, its highest since late February. Altcoins like XRP and Solana saw minor declines. The U.S. economy added 177,000 jobs in April, surpassing expectations, while traders anticipate the Fed to maintain rates.

Riot Platforms reported a 13% increase in revenue for the first quarter, reaching $161.39 million, driven by a 100% surge in Bitcoin mining income. Despite a net loss of $296.4 million, the company's Bitcoin mining yields remained stable, with 1,530 Bitcoin mined.

Epic Games' antitrust case against Apple led to the tech giant loosening restrictions on developers offering apps with non-standard purchasing methods or digital collectibles in the U.S. Apple updated its App Store guidelines after a court ruling found it violated an injunction, allowing developers to direct users to third-party websites for purchases.

The UK's Financial Conduct Authority (FCA) is gathering feedback on crypto assets to establish clearer legislation for intermediaries, staking, lending, borrowing, and DeFi. This initiative aims to enhance market integrity and consumer protection in the growing crypto industry.

Metaplanet plans to issue interest-free bonds to EVO FUND, raising funds to purchase Bitcoin. The company aims to reach 21,000 BTC by 2026, with the option for early bond repayments.

Tether plans to launch a U.S.-focused stablecoin later this year or early 2026, depending on stablecoin legislation. CEO Paolo Ardoino stated the new stablecoin would cater to U.S. users and compete with payment services like PayPal's CashApp.

Bitcoin's dominance in the cryptocurrency market has surged to 64.89%, its highest level since January 2021, with a price exceeding $97,000. Despite recent fluctuations, Bitcoin's resilience and limited supply continue to attract investors over altcoins.

The UK's Financial Conduct Authority is seeking feedback on regulating crypto activities before implementing legislation to bring them under regulation. The regulator's discussion paper, released Friday, covers topics including intermediaries, staking, lending, borrowing, and decentralized finance, with a focus on consumer protection and market integrity.

Japanese firm Metaplanet has issued $24.8 million (3.6 billion yen) in bonds to buy more Bitcoin for its corporate treasury, with EVO FUND as the sole buyer. The bonds have no interest and will mature in 2025, funded by stock acquisition rights. The company may repay the bonds early if stock rights proceeds surpass certain levels.