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26 May 2026, 06:25

BitGo CEO: Bitcoin’s True Bull Case Lies in Failing Trust in Fiat, Not Rate Cuts

BitcoinWorld BitGo CEO: Bitcoin’s True Bull Case Lies in Failing Trust in Fiat, Not Rate Cuts Mike Belshe, CEO of digital asset custody firm BitGo, has challenged a prevailing narrative in cryptocurrency markets, asserting that the primary driver for Bitcoin’s (BTC) long-term value is not the prospect of lower interest rates, but rather a deeper erosion of public trust in traditional fiat currencies. Monetary Policy Shift and the Dollar’s Credibility Belshe’s comments, shared on social media platform X, came in response to the appointment of Kevin Warsh as the new Chairman of the Federal Reserve. Warsh, a former Fed governor, has been a vocal critic of quantitative easing (QE) and the central bank’s history of large-scale asset purchases. Belshe argued that if Warsh is sincere in his criticisms, the reflexive use of expansionary monetary policy to address economic challenges may come to an end. The CEO outlined two distinct scenarios stemming from this leadership change. In the first, a successful restoration of confidence in the U.S. dollar under Warsh would be a positive development for the stability of the global financial system. In the second, a failure to restore that trust would serve as definitive proof that the existing monetary framework is fundamentally broken, creating a powerful catalyst for Bitcoin adoption. The Hard Money Thesis in a Binary Outcome Belshe’s analysis frames the future of Bitcoin within a binary outcome that, in his view, leads to the same conclusion. “Hard money wins in either scenario,” he stated, referring to assets like Bitcoin that have a fixed or algorithmically determined supply, immune to government or central bank inflation. This perspective suggests that whether the dollar strengthens or weakens, the fundamental appeal of a decentralized, non-sovereign store of value remains intact. This argument adds a nuanced layer to the ongoing debate about Bitcoin’s role as a hedge against inflation and monetary debasement. While many market participants focus on the Federal Reserve’s interest rate decisions as a primary driver for risk assets like cryptocurrencies, Belshe’s commentary shifts the focus to a more structural, trust-based concern. Implications for Investors and the Broader Market For investors, this analysis implies that Bitcoin’s value proposition may be less correlated with traditional macroeconomic cycles than previously assumed. If the core bull case is indeed about eroding trust in fiat, then short-term interest rate fluctuations become less relevant. The focus instead turns to long-term fiscal and monetary credibility. The appointment of a new Fed chair who is skeptical of QE introduces a variable that could either strengthen the dollar or accelerate its decline in public confidence, with Bitcoin positioned to benefit from the latter. This perspective is particularly relevant as global debt levels remain high and central banks worldwide grapple with inflationary pressures. Belshe’s comments serve as a reminder that for many proponents, Bitcoin is not merely a speculative asset but a bet against the long-term sustainability of the current fiat-based system. Conclusion Mike Belshe’s remarks offer a distinct and thought-provoking lens through which to view Bitcoin’s future. By centering the argument on trust in fiat currency rather than interest rate policy, he challenges market participants to consider deeper, structural drivers of value. Whether or not Chairman Warsh succeeds in restoring confidence in the dollar, Belshe’s analysis underscores a core tenet of Bitcoin’s original thesis: that hard money, by its very nature, remains a compelling alternative in times of monetary uncertainty. FAQs Q1: Why does Mike Belshe believe interest rate cuts are not the main driver for Bitcoin’s price? A1: Belshe argues that Bitcoin’s core value proposition is tied to the erosion of trust in fiat currency systems, not short-term changes in interest rates. He believes that the fundamental question is whether people trust the dollar, not whether the Fed cuts rates. Q2: Who is Kevin Warsh and why is his appointment relevant to Bitcoin? A2: Kevin Warsh is the newly appointed Federal Reserve Chairman. He is known for his criticism of quantitative easing. Belshe suggests that if Warsh successfully restores trust in the dollar, it stabilizes the system, but if he fails, it proves the system is broken, which would be bullish for Bitcoin. Q3: What does ‘hard money’ mean in the context of this article? A3: ‘Hard money’ refers to assets like Bitcoin that have a fixed or algorithmically controlled supply that cannot be increased by governments or central banks. This makes them resistant to inflation and debasement, contrasting with fiat currencies that can be printed at will. This post BitGo CEO: Bitcoin’s True Bull Case Lies in Failing Trust in Fiat, Not Rate Cuts first appeared on BitcoinWorld .

26 May 2026, 06:20

South Africa Moves to Clarify Crypto Regulations, Extends Public Comment Period

BitcoinWorld South Africa Moves to Clarify Crypto Regulations, Extends Public Comment Period The South African government and its central bank are taking steps to bring greater clarity to the country’s cryptocurrency regulatory landscape, according to a report from local media outlet IOL. In a joint statement updating the draft Capital Flow Management Regulations, the National Treasury and the South African Reserve Bank (SARB) announced an extension of the public comment period to June 30, 2026. Key Details of the Draft Regulations The statement explicitly noted that the proposed regulation is not intended to criminalize the holding of cryptocurrencies. Furthermore, the rules will not be applied retroactively, a move designed to reassure current holders and market participants. This clarification addresses a common concern in emerging regulatory frameworks where ambiguity can lead to market uncertainty. Cross-Border Framework in Development Alongside the capital flow regulations, the Treasury and SARB indicated that a draft manual for a cross-border crypto transaction framework will be released for public consultation. This manual is expected to include formal definitions for cross-border crypto transactions and outline the specific obligations of officially authorized crypto service providers operating within South Africa. Why This Matters for the Crypto Industry South Africa has been working to establish a clear regulatory environment for digital assets for several years. The Financial Sector Conduct Authority (FSCA) previously declared crypto assets as financial products, bringing them under existing regulatory oversight. This latest move by the Treasury and SARB targets the capital flow and cross-border aspects, which have been a gray area. By extending the comment period to mid-2026, authorities are signaling a deliberate, consultative approach that prioritizes industry feedback before finalizing rules. Conclusion The extended comment period and explicit assurances regarding retroactivity and criminalization provide a more predictable path for crypto businesses and investors in South Africa. The forthcoming cross-border framework manual will be a critical document for licensed service providers, defining how international crypto transactions are treated under South African law. The industry will be watching closely as the June 2026 deadline approaches. FAQs Q1: Will the new South African crypto regulations apply to past transactions? No. The Treasury and central bank have stated the regulations will not be applied retroactively. Q2: Does the regulation make holding cryptocurrency illegal in South Africa? No. The government explicitly clarified that the regulation is not intended to criminalize cryptocurrency holdings. Q3: When is the public comment period for these regulations open until? The public comment period has been extended to June 30, 2026. This post South Africa Moves to Clarify Crypto Regulations, Extends Public Comment Period first appeared on BitcoinWorld .

26 May 2026, 06:10

Gold Extends Intraday Losses as Firmer USD, Fed Rate Hike Bets Weigh

BitcoinWorld Gold Extends Intraday Losses as Firmer USD, Fed Rate Hike Bets Weigh Gold prices extended their intraday losses on Tuesday, struggling to find support as a stronger US dollar and renewed expectations of further interest rate hikes by the Federal Reserve dampened investor appetite for the non-yielding precious metal. The yellow metal, which had been attempting to stabilize after recent volatility, remains under pressure in a macro environment increasingly tilted against it. Stronger Dollar and Hawkish Fed Bets Pressure Gold The primary catalyst behind gold’s decline is the resurgence of the US dollar, which has strengthened against a basket of major currencies. A firmer dollar makes gold, which is priced in USD, more expensive for holders of other currencies, thereby reducing demand. Simultaneously, market participants have recalibrated their expectations for Federal Reserve policy, pricing in a higher probability of additional rate hikes in the coming months following a series of resilient economic data points, including stronger-than-expected jobs and inflation figures. Rising interest rates increase the opportunity cost of holding gold, which offers no yield. As bond yields climb, investors are incentivized to move capital into interest-bearing assets, further undermining gold’s appeal. The combination of a robust dollar and hawkish Fed rhetoric has historically been a significant headwind for gold prices. Technical and Market Context From a technical perspective, gold has breached several short-term support levels, suggesting the potential for further downside. The intraday losses extend a broader trend observed over the past week, during which the metal has failed to hold gains above key psychological levels. Traders are now watching for the next major support zone, which could determine whether the current correction deepens or attracts bargain buyers. The broader market context is one of recalibration. While expectations of a Fed pause had earlier driven a rally in gold, the persistence of inflationary pressures and a tight labor market have forced a reassessment. The CME FedWatch Tool now indicates a significant probability of a rate hike at the next policy meeting, a stark shift from just weeks ago when a hold was widely anticipated. What This Means for Investors For investors holding gold as a portfolio hedge, the current environment demands vigilance. The metal’s traditional role as a safe haven is being tested by a macro backdrop that favors the dollar and yield-bearing assets. However, some analysts caution that the sell-off may be overdone, pointing to ongoing geopolitical uncertainties and central bank buying as potential floor supports. The immediate outlook for gold remains tied to incoming US economic data and any shifts in Fed communication. A softer-than-expected inflation report or a dovish turn from Fed officials could reverse the current trajectory, while continued economic resilience would likely exert further pressure. Conclusion Gold’s intraday losses reflect the powerful headwinds of a stronger US dollar and rising expectations for Federal Reserve rate hikes. While the precious metal faces near-term vulnerability, its longer-term trajectory will depend on the evolution of monetary policy, inflation trends, and broader risk sentiment. Investors should monitor upcoming economic releases and Fed commentary closely for signals on the next directional move. FAQs Q1: Why does a stronger US dollar hurt gold prices? Gold is priced in US dollars. When the dollar strengthens, it takes fewer dollars to buy the same amount of gold, making it more expensive for buyers using other currencies. This typically reduces global demand and pushes prices lower. Q2: How do Fed rate hike expectations affect gold? Higher interest rates increase the opportunity cost of holding gold, which does not pay interest or dividends. As bond yields rise, investors often sell gold to move into yield-bearing assets, putting downward pressure on the metal’s price. Q3: Can gold still be a safe haven in this environment? Gold’s safe-haven status remains intact, but its performance is currently being overshadowed by the strong dollar and rising yields. In times of severe geopolitical or financial crisis, gold can still attract safe-haven flows, but its short-term price is heavily influenced by monetary policy and currency dynamics. This post Gold Extends Intraday Losses as Firmer USD, Fed Rate Hike Bets Weigh first appeared on BitcoinWorld .

26 May 2026, 05:45

Abu Dhabi’s IHC Executes Landmark $30M Transaction Using Dirham-Pegged Stablecoin

BitcoinWorld Abu Dhabi’s IHC Executes Landmark $30M Transaction Using Dirham-Pegged Stablecoin Abu Dhabi-based global investment firm International Holding Company (IHC) has completed a $30 million transaction using a stablecoin pegged to the UAE Dirham, marking the first major institutional deployment of the digital asset since it received regulatory approval. The transaction was conducted using the DDSC stablecoin on the ADI Chain, an institutional Layer 2 blockchain developed by the ADI Foundation. First Major Institutional Dirham Stablecoin Transaction The $30 million transfer represents a significant milestone for the integration of fiat-pegged digital currencies into mainstream corporate finance in the Middle East. IHC, one of the most valuable holding companies in the region, utilized the DDSC stablecoin — a digital asset designed to maintain a 1:1 peg with the UAE Dirham. The transaction was executed on the ADI Chain, a permissioned Layer 2 blockchain optimized for institutional use, offering higher throughput and lower transaction costs compared to public mainnets. The ADI Foundation, which developed the ADI Chain, has positioned the network as a regulated infrastructure for large-scale financial operations. The successful execution of this transaction by a firm of IHC’s stature signals growing confidence in Dirham-backed stablecoins for corporate treasury and cross-border settlement. Regulatory Context and Market Implications The DDSC stablecoin received regulatory approval from UAE authorities earlier this year, part of a broader push by the country to establish itself as a global hub for digital asset innovation. The UAE Central Bank has been actively exploring a central bank digital currency (CBDC), while the Securities and Commodities Authority (SCA) has developed a framework for regulating virtual assets. This transaction demonstrates that regulated stablecoins can serve as a practical bridge between traditional finance and blockchain-based settlement systems. Industry observers note that the use of a Dirham-pegged stablecoin for a transaction of this size could encourage other regional corporations and financial institutions to explore similar digital asset strategies. Stablecoins offer advantages such as near-instant settlement, 24/7 availability, and reduced counterparty risk compared to traditional banking channels. Why This Matters for Institutional Crypto Adoption The IHC transaction provides a real-world use case that moves beyond speculative trading. For institutional investors and corporate treasurers, the ability to transact in a stable, regulated digital asset pegged to a national currency reduces volatility risk while offering operational efficiencies. The use of a Layer 2 blockchain like ADI Chain also addresses scalability and privacy concerns that have historically deterred large institutions from using public blockchains. This development aligns with a broader trend of Gulf Cooperation Council (GCC) countries exploring digital currencies. Saudi Arabia and the UAE have jointly piloted the ‘Aber’ CBDC project, while Bahrain has established a comprehensive crypto regulatory framework. The IHC transaction adds practical momentum to these policy initiatives. Conclusion The $30 million transaction by International Holding Company using the DDSC Dirham stablecoin on ADI Chain represents a tangible step forward for institutional stablecoin adoption in the UAE. It demonstrates that regulated digital assets can be integrated into the operations of major investment firms, potentially paving the way for broader corporate and financial sector use. As regulatory frameworks continue to mature, transactions of this nature are likely to become more common, reinforcing the UAE’s position as a leader in digital finance innovation. FAQs Q1: What is the DDSC stablecoin? DDSC is a digital stablecoin issued by the ADI Foundation, pegged 1:1 to the UAE Dirham. It is designed for institutional use and operates on the ADI Chain, a permissioned Layer 2 blockchain. Q2: Why is the IHC transaction significant? It is the first major institutional transaction using a Dirham-pegged stablecoin since receiving regulatory approval, demonstrating real-world utility for corporate treasury and settlement. Q3: How does the ADI Chain differ from public blockchains? ADI Chain is a permissioned Layer 2 blockchain optimized for institutional use, offering higher transaction throughput, lower costs, and enhanced privacy compared to public networks like Ethereum. This post Abu Dhabi’s IHC Executes Landmark $30M Transaction Using Dirham-Pegged Stablecoin first appeared on BitcoinWorld .

26 May 2026, 05:35

British Pound Retreats from Monthly High vs Japanese Yen, But Downside Remains Limited

BitcoinWorld British Pound Retreats from Monthly High vs Japanese Yen, But Downside Remains Limited The British Pound has edged lower against the Japanese Yen after touching a fresh monthly high earlier in the week, though analysts suggest the downside may be limited amid shifting central bank expectations and resilient UK economic data. What Drove the GBP/JPY Retreat? The GBP/JPY pair pulled back from the 195.00 zone as profit-taking emerged following a sustained rally. The move was partly triggered by cautious comments from Bank of Japan (BoJ) officials, which briefly strengthened the Yen. However, the broader trend remains tilted in favor of the Pound, supported by the Bank of England’s (BoE) more hawkish stance relative to the BoJ. UK inflation data released last week came in above expectations, reinforcing market bets that the BoE will maintain higher interest rates for longer. In contrast, the BoJ has signaled only a gradual normalization of its ultra-loose monetary policy, keeping the Yen under structural pressure. Technical Outlook and Key Levels From a technical perspective, the GBP/JPY pair is testing support near the 193.50 level, a zone that previously acted as resistance. A break below this level could open the door toward the 192.00 handle, but buyers are expected to defend the 193.00 area. On the upside, the recent monthly high near 195.30 remains the immediate resistance. A sustained move above this level would likely signal further upside toward the 196.00 psychological barrier. The Relative Strength Index (RSI) has cooled from overbought levels, suggesting the correction may be healthy rather than the start of a reversal. Why the Downside Is Seen as Limited Several factors underpin the view that GBP/JPY losses will be contained. First, the interest rate differential between the UK and Japan remains wide, favoring carry trade flows into the Pound. Second, UK economic data has shown resilience, with GDP growth and employment figures beating expectations. Third, the BoJ’s cautious approach to tightening provides little catalyst for sustained Yen strength. Additionally, geopolitical uncertainty and risk-off sentiment tend to benefit the Yen as a safe haven, but current market conditions remain relatively stable, reducing that tailwind. Market Implications for Traders For forex traders, the GBP/JPY pair offers opportunities in a range-bound environment. Short-term pullbacks toward support levels may present buying opportunities for those with a bullish bias. However, traders should remain vigilant for any unexpected policy signals from either central bank, particularly if UK inflation data surprises to the downside or the BoJ signals a faster tightening timeline. The pair’s volatility also makes it attractive for breakout strategies, with the 193.50–195.30 range acting as the key zone to watch in the coming sessions. Conclusion The British Pound’s retreat from its monthly high against the Japanese Yen appears to be a corrective move within a broader uptrend. While short-term weakness cannot be ruled out, the fundamental backdrop — including wide rate differentials, resilient UK data, and cautious BoJ policy — suggests that any decline will likely be limited. Traders should monitor key support at 193.50 and resistance at 195.30 for directional cues. FAQs Q1: Why did the GBP/JPY pair fall after hitting a monthly high? The decline was primarily driven by profit-taking and cautious comments from Bank of Japan officials, which briefly strengthened the Yen. The move is seen as a correction within a broader uptrend. Q2: What is the key support level for GBP/JPY right now? The immediate support is around 193.50, with stronger support near 193.00. A break below 193.00 could lead to a test of 192.00. Q3: Why is the downside for GBP/JPY considered limited? The downside is limited due to the wide interest rate differential favoring the Pound, resilient UK economic data, and the Bank of Japan’s gradual approach to policy normalization, which keeps the Yen under structural pressure. This post British Pound Retreats from Monthly High vs Japanese Yen, But Downside Remains Limited first appeared on BitcoinWorld .

26 May 2026, 05:30

Hoskinson Reaffirms Cardano Focus After IO Treasury Proposals Pass

Cardano’s IO-backed Developer Experience Initiative has been ratified after a closely watched treasury vote, giving Charles Hoskinson a fresh governance win at the same time he is publicly trying to re-center his attention on ADA and Midnight. The proposal, a treasury withdrawal request tied to developer tooling and onboarding, was listed by AdaStat as ratified and approved, with 67.90% Yes support against 32.10% No. The vote involved roughly ₳3.72 billion in Yes stake and ₳1.76 billion in No stake, according to the tracker. The governance action had been submitted on April 22, 2026, and expired on May 24, 2026, in Epoch 633, according to Gov.tools. IO Secures Crucial Cardano Funding The result matters because the vote had become more than a routine funding request. Hours before the deadline, Hoskinson wrote that the proposal was “just 0.5% away” from passing and framed the measure as a response to persistent complaints from developers: fragmented tooling, scattered documentation, weak onboarding and a steep learning curve. IO’s own description of the initiative presents it as a six-month, 3.6 million ada push to make Cardano easier to build on, including a one-command project setup, audit-ready smart contract templates, a unified developer portal and support for community tooling. Hoskinson had repeatedly warned that IO may need to wind down parts of its research operation if the proposal did not secure approval. IO has argued that the developer base remains a structural weakness. In a May 18 post outlining the proposal, Robertino Martinez wrote that it has “around 17x fewer developers than Ethereum,” with the gap continuing to widen while Cardano’s developer numbers remain largely flat. The same post said fragmented documentation, unmaintained tools and the absence of a clear onboarding path were causing builders to arrive in “a disjointed and scattered ecosystem.” Hoskinson used the vote’s closing stretch to cast the governance process as evidence that the network’s post-Voltaire system is functioning, even when outcomes are contested. “Cardano is alive. The community is engaged. And that matters more than any single vote,” he wrote. “But this process has shown me something important: Cardano’s governance is real. You are not passive holders. You are owners.” Hoskinson Confirms Cardano Focus The post also moved beyond the single proposal. Hoskinson said the process had reinforced the importance of the so-called Pentad — IOG, EMURGO, the Cardano Foundation, the Midnight Foundation and Intersect — as a coordination layer for the ecosystem. He invited those organizations to “sit down and have a real conversation about the future of governance” and how to formalize that coordination going forward. The timing was notable. Two days earlier, Cowboy State Daily reported that Hoskinson Health & Wellness Clinic in Gillette, Wyoming, would close on July 31, ending an ambitious rural healthcare project backed by Hoskinson. The publication described the clinic as part of a roughly $250 million effort to build what had been billed as the “Mayo Clinic of the West,” and cited clinic leadership as saying the organization was “no longer financially sustainable.” That background gave Hoskinson’s post a sharper edge. He did not mention the clinic closure directly in the Cardano governance statement, but he addressed questions about his focus. “I am 100% focused on Cardano and Midnight. Always have been. Let me prove it,” he wrote. He also said he would attend the Cardano Summit in Singapore and appear on stage, while personally committing to partially top up Cardano and Midnight’s Token2049 sponsorship to Title level. “Being on that main stage is where Cardano and Midnight need to be heard,” Hoskinson said. Cardano Funding Round Delivers Mixed Result The broader treasury round showed that Cardano’s new governance system is willing to split the ticket. Several IO-led proposals passed, including the Developer Experience Initiative, Cardano Upgrades, the Consensus Initiative and Cardano High Assurance Technical Collaboration. But others did not. IO’s maintenance proposal with Ensurable Systems and its Plutus proposal with VacuumLabs both expired just short of the 67% DRep threshold, while the L2 Scalability Initiative with Midgard Labs, Blockfrost’s indexing proposal and Pogun’s Bitcoin DeFi funding request failed by wider margins. That makes the result harder to frame as a simple endorsement or rejection of IO. DReps backed some core protocol and developer-experience work while withholding approval from other infrastructure, maintenance and ecosystem-spending requests. At press time, ADA traded at $0.2446.