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- ⚡Trump's Bitcoin Stirs Crypto Buzz
⚡Trump's Bitcoin Stirs Crypto Buzz
Also: Kraken's Big Move, Pectra Upgrade & DOGE Dips 💥
Hey, Explorers!
Welcome to the newest edition of WhaleTales, your weekly digest on crypto’s hottest stories and shorting insights!
📬 In Today’s Top News:
Eric Trump deepens crypto pursuits with American Bitcoin
Kraken nails the restricted dealer registration in Canada
Ethereum developers locks May 7 for Pectra upgrade
DOGE prices crash amidst Elon Musk exit buzz
🤝 Trump’s sons deepen crypto pursuits with American Bitcoin
Trump’s sons strengthen their crypto involvement with a major Bitcoin (BTC) mining initiative called the American Bitcoin.
As stated in a press release, President Donald Trump’s son, Eric Trump, announced that they will join hands with Hut 8, a publicly traded BTC mining company, to launch American Bitcoin.
According to the report, American Bitcoin is headed to become one of the largest and most prominent players in Bitcoin mining and emphasizes a full-fledged “bitcoin reserve.”
Hut 8 will offer its exclusive energy-saving and cost-effective infrastructure and mining operations to build an industry-scale and robust Bitcoin mining platform.
Key highlights:
The transaction details state that Hut 8 will hold an 80 percent stake in exchange for the majority of its ASIC miners at American Data Centers Inc.
The remaining 20 percent of the stake goes to early investors, including Trump's sons, Eric Trump, and Donald Trump Jr.
As part of the transaction, Eric Trump has decided to relaunch the Bitcoin mining firm American Data Centers Inc. as “American Bitcoin.”
Under the deal, Eric Trump will be the co-founder of American Bitcoin and Hut 8 CEO, Asher Genoot.
In a family dinner, President Trump said:
“It has to have the word ‘American’ in it,” and decided to relaunch it as American Bitcoin. The family wants to go public with their new Bitcoin and has already registered it with the $ABTC ticker with Nasdaq,”
With American Bitcoin, the Trump family envisages going big into crypto investments.
Source: Bloomberg Technology
💥 Kraken nails Restricted Dealer registration in Canada
Kraken, the US-based crypto exchange, secured the new Restricted Dealer registration from the Ontario Securities Commission (OSC) on April 1.
The announcement was shared by the CEO of the crypto exchange, David Ripley, on X.
“Exciting news from one of @KrakenFX’s fastest growing markets. Today, we secured a Restricted Dealer registration in Canada, which gives regional clients more access and more ways to create crypto wealth. We’re committed to Canada – and look forward to leading the next wave of adoption.”
Kraken further added that they worked closely with the Canadian regulators during the pre-registration stage to ensure compliance adherence and investor protection conventions set by the OSC regulatory body.
The registration with OSC reconfirms Kraken’s commitment to its Canadian investors, and the platform now has over $2 billion Canadian dollars ($1.5 billion) in collective client assets under custody.
Cynthia Del Pozo, the newly appointed General Manager of Kraken, will lead the North America expansion. Cynthia has also served Gemini for 3 years as the Head of Strategy & Corporate Development.
Despite Gemini’s exit from the Canadian market, the new GM is hopeful about the Canadian crypto market. In the announcement, Del Pozo added:
“Canada is at a turning point for crypto adoption, with a growing number of investors and institutions recognizing digital assets as a vital part of the financial future. I’m thrilled to join Kraken’s mission at this critical moment, and to lead our expansion efforts, ensuring we continue to serve our clients long-term with innovative and compliant products.”
Established in 2011, Kraken is one of the earliest global crypto exchanges, and the registration highlights a new landmark for the exchange.
🚀 Ethereum locks May 7 for Pectra upgrade
Ethereum core dev team confirms May 7 for the highly-anticipated mainnet launch for Pectra upgrade after it went LIVE on the Hoodi testnet.
The decision was shared during the ACDC (All Core Developers Consensus) meeting on April 3, 2025.
Ethereum Foundation researcher, Alex Stokes, locked the fork date on social media and said:
“Pectra mainnet date confirmed May 7. Let’s gooooo.”
The development is a milestone for the Ethereum blockchain and introduces significant improvements and enhances user experiences.
One of its key features is the “smart contract” functionality for Ethereum wallets. Pectra introduces 11 EIPs (Ethereum Improvement Proposals) to enhance wallet management and network operability.
Notably, EIP-7251 will benefit validators by improving the staking limit from 32 to 2048 ETH, enhancing investor participation.
In the meantime, EIP-7691 will improve blob count boosting rollup performance, and EIP-7702 will enhance wallet features.
Industry leaders believe that Pectra upgrade will maximize energy efficiency within the Ethereum network, improve scalability, and reduce transaction costs.
Source: Crypto World Daily
👀 DOGE prices crash amidst Musk exit buzz
The latest buzz?!🤫
Speculators are asking whether it is the end of Dogecoin! 🐕💔
Dogecoin (DOGE) prices continue to slip, with the odds of the tech giant Elon Musk leaving the Department of Government Efficiency confirmed.
Despite the stifling rumours, Elon Musk, a key supporter of Dogecoin, made a statement at America PAC town Hall in Green Bay that the meme coin is not included in the US government’s plans, ending the speculation. A Polymarket poll further gambled on a high chance of Musk stepping down from his DOGE role and leaving the Trump administration by July.
Musk’s exit can impact investors’ sentiment as he was a major supporter of the DOGE project and advocated it as the “people’s crypto.” The price drop further aligns with President Trump’s unveiling of the global 10 percent tariff duty, which has also impacted the broader crypto market.
But will Dogecoin bounce back?
DOGE’s current price is $0.1507, today (11:08 GMT+5:30), with a 24-hour trading volume of $3.29 billion. Market statistics indicate that DOGE will bounce back within a few weeks and revisit a bull market run.
Polymarket graph
⚡️ Fast Facts
What is Bitcoin (BTC) shorting?
Shorting or short-selling is a market strategy to profit from crypto volatility. For shorting Bitcoin:
The trader borrows Bitcoins from another trader or a crypto trading platform like Binance.
The trader then sells the coin at the current market price and waits for its price to decline.
As the price declines, the trader buys back the coin at a lower price and repays the lender.
The trader makes a profit through the price difference. If the prices of Bitcoin are high, then the trader has to repurchase the coins at a higher price, resulting in losses.
⚠️ Bitcoin prices are volatile and carry risks.
🌐 Market Map
Today, the global crypto market cap is $2.77 trillion with🔻1.9% down over the last 24 hours. The chart below shows the crypto price over the last 24 hours, Sunday 6, 2025.
🍿 Quick Bytes
🤡 Today’s Meme Drop
That’s it for this week, guys!
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DISCLAIMER: The information provided in this newsletter is for educational purposes and not intended for any investment or financial advice. Crypto investments are risky. We encourage readers to study the market thoroughly, seek expert advice, and invest wisely.