### Bitcoin Nears $98K as Eric Trump Advocates for BTC Investment

Bitcoin (BTC) has **risen above $98,000** during Thursday's Asian trading hours, following a significant statement from **Eric Trump**, son of U.S. President **Donald Trump**. He encouraged the family-backed crypto platform to invest in bitcoin (BTC).

> "[It] feels like a **great time to enter BTC**, @worldlibertyfi," Eric Trump posted on X at 1:41 UTC. His remarks triggered a price surge, with BTC climbing from **$96,900 to $97,830**. The micro CME futures even surpassed the **$98,000 mark**, according to data from **TradingView**.

Earlier this week, Trump's AI and crypto czar, **David Sacks**, indicated that the Trump administration is considering the **feasibility of a strategic bitcoin reserve**. This news disappointed many crypto investors who were hoping for swift action on Bitcoin's institutional adoption.

![Eric Trump's post on X](https://www.coindesk.com/_next/image?url=https%3A%2F%2Fcdn.sanity.io%2Fimages%2Fs3y3vcno%2Fproduction%2F10f93640eee26cdb14bf93cf962532c56cd5b29b-1186x468.png%3Fauto%3Dformat&w=1200&q=75)

*Eric Trump's post on X.*

Eric Trump, son of U.S. President Donald Trump said on X that it feels like a great time to enter BTC.

Bitcoin Surges Towards $98K After Eric Trump's Bold BTC Investment Statement

### Pi Network: A Controversial Blockchain Project
Pi Network’s **lack of transparency**, an **obscure core team**, and a **fervent community** have made it a highly controversial blockchain project.

After six years in the making, Pi Network **announced the launch of its open mainnet** on Thursday, allowing users to trade Pi tokens externally. However, it has faced persistent criticism and has yet to gain recognition for its blockchain technology.

### Background of Pi Network
Launched in March 2019 by **Nicolas Kokkalis**, **Chengdiao Fan**, and **Vince McPhillip**, who later quit due to internal disagreements, Pi Network claims **60 million users** with **10.14 million mainnet migrations** and **19 million completing KYC** identity verification. On social media, Pi Network has **111,000 followers on Reddit**, **2.9 million on Telegram**, **3.5 million on Twitter**, and **1.65 million on YouTube**.

Unlike traditional mining, where users validate transactions, Pi users simply log in daily, tap a button, and collect tokens. Pi Network’s whitepaper claims to redefine mining beyond proof-of-work models, stating, "We define ‘mining’ more broadly than its traditional meaning equated to executing a proof-of-work consensus algorithm as in Bitcoin or Ethereum."

However, some experts argue that cryptocurrency mining is already well-defined, and Pi Network’s redefinition serves its own agenda. **CCN** describes Pi Network as a decentralized blockchain platform that allows mining via smartphones. Unlike Bitcoin or proof-of-stake systems, Pi Network relies on users forming **trust-based groups** to validate transactions.

### Concerns About Trust and Control
Experts warn about the implications of a trust-based system. "What happens if the foundation of this trust is flawed?" **CCN** cautions about the risks of bad actors infiltrating the network.

Despite Pi Network's decentralization claims, experts note that all active mainnet nodes remain under its **core team’s control**. The absence of **smart contracts** even after six years further raises doubts about its legitimacy.

### Inconsistencies and Privacy Issues
Pi Network claims **60 million users**, yet **ExplorePi** reports only **9.11 million wallets**, or just **15%** of the claimed user base. Furthermore, only **20,000 wallets** show daily activity, raising concerns about actual engagement. 

The **mandatory KYC process** has sparked privacy concerns, requiring users to submit video selfies and government-issued IDs, increasing the risks of misuse and identity theft. Critics argue that the development team lacks transparency and demands excessive app permissions.

### Engagement and Community Dynamics
Pi Network’s daily login model follows principles of habitual conditioning, creating a psychological trap for users who hesitate to quit after months of effort. The **referral-based system** fuels engagement, which some critics liken to a **Ponzi scheme**. 

### Unrealistic Price Expectations
Many supporters believe Pi tokens will be highly valuable, advocating for a **“consensus price”** of **$500–1,000** per Pi. However, critics dismiss these estimates as **unrealistic**. 

The Pi Core Team set a total supply of **100 billion tokens**, with around **6 billion** expected to enter circulation post-mainnet launch. If valued as optimistically as its community suggests, Pi Network’s market capitalization would be astronomical, lacking real-world data to support it.

**CryptoTimes** attributes Pi’s rise to psychological tactics but emphasizes that a project’s growth ultimately depends on its actual value. As of now, the hyperbole around Pi Coin and Pi Network is just noise with no real value.

![User interface of Pi Network app on a smartphone. Photo by VnExpress/Bao Lam](https://vcdn1-english.vnecdn.net/2025/02/21/20250131-225809-1739769150-154-8828-6274-1740112294.jpg?w=680&q=100&dpr=2&fit=crop&s=sznQQE7I0fOK51uhJLjLsA)

Pi Network’s lack of transparency, an obscure core team, and a fervent community have made it a highly controversial blockchain project. - VnExpress International

The Controversial Rise of Pi Network: What You Need to Know

## The Recent Bitcoin Crash: A Wake-Up Call for Investors

The recent **Bitcoin price drop** has left many investors worried. In such a volatile market, effectively managing risks and protecting investment returns has become a primary concern for cryptocurrency investors. Fortunately, **ICOminer** offers an innovative solution to help investors profit steadily even during the Bitcoin crash.

![ICOminer](https://blockchainwire.s3.amazonaws.com/314569e6a5d43b921d60272d18106216/editor_image/ico.jpg)

## ICOminer: Redefining the Future of Cloud Mining

ICOminer introduces **AI-powered smart mining technology**, optimizing the distribution of computing resources to significantly increase mining efficiency while reducing energy consumption. This not only brings higher returns for users but also supports greener, more sustainable mining practices. Regardless of market fluctuations, ICOminer provides a **transparent, secure, and stable** mining environment.

### Why Choose ICOminer to Respond to Bitcoin’s Crash?

1. **No Fees, Transparent Returns**  
   ICOminer platform charges **no hidden fees** for its mining plans, allowing users to clearly see their **daily returns**. Even during the Bitcoin crash, ICOminer can deliver consistent returns, keeping your investments growing steadily.

2. **Free Cloud Mining Experience, Start with Zero Risk**  
   ICOminer offers **$50 free mining rewards** to new users, allowing you to experience Bitcoin and Dogecoin cloud mining without any initial investment. This risk-free mining experience lets you explore cryptocurrency mining without any upfront costs.

3. **Flexible Investment Plans to Suit Different Needs**  
   ICOminer provides a variety of **cloud mining contracts**, giving investors the flexibility to choose plans that fit their investment size and risk tolerance.

| Contract Price | Contract Term | Daily Return | Total Return | Daily Return Rate |
|----------------|---------------|--------------|--------------|-------------------|
| $50.00         | 1 day         | $1.00        | $51.00       | 2.00%             |
| $200.00       | 1 day         | $6.00        | $206.00      | 3.00%             |
| $600.00       | 3 days        | $10.20       | $630.60      | 1.70%             |
| $1,200.00     | 5 days        | $22.80       | $1,314.00    | 1.90%             |
| $3,800.00     | 7 days        | $83.60       | $4,385.20    | 2.20%             |
| $8,800.00     | 10 days       | $220.00      | $11,000.00   | 2.50%             |

4. **24/7 Customer Support, Fast Response**  
   ICOminer provides **24/7 customer support**. If you encounter any issues, the platform’s professional team is always available to assist you.

5. **Security Assurance, Peace of Mind for Your Funds**  
   ICOminer uses **advanced encryption technology** and third-party escrow mechanisms to ensure that each user's funds are secure, guaranteeing that your investment remains protected.

### How to Get Started with ICOminer Cloud Mining?

1. **Register for an ICOminer Account**  
   Visit ICOminer’s official website and create an account. Upon registration, receive a **$50 free mining reward**.

2. **Choose the Right Investment Plan**  
   Select the mining contract that suits your investment needs and risk preference.

3. **Enjoy Stable Passive Income**  
   Once you activate your chosen contract, the platform will automatically settle your mining profits daily, allowing you to earn a stable passive income with minimal effort.

## Start Mining with ICOminer Now and Earn Stable Crypto Returns

In response to the Bitcoin crash, ICOminer offers a **no-risk, no-fee mining platform** that allows investors to profit steadily without being affected by market volatility. Visit the [ICOminer website](https://208.87.240.59/Tracker?data=wPhIy6KuOfJ42L99s__PED7OcnP9y-Yu60q402DvFPXWXVq3CMlFlf4Xo0jLssqZcSMGbhi3n4lRJngyCLsShmO2ek_pcpfUHXNoClK68kA=) to register and claim your **$50 free mining reward**.

## About ICOminer

ICOminer is a leading cloud mining platform that uses **AI-driven technology** and a **globally distributed architecture** to provide users with efficient, secure, and transparent mining services. The platform supports multiple major cryptocurrencies, including Bitcoin (BTC), Dogecoin (DOGE), Ethereum (ETH), and Tether (USDT), and is dedicated to providing users with stable, long-term passive income.

**Disclaimer**: The information provided is not a solicitation for investment. Cryptocurrency mining involves risk and the potential for loss of funds. It is recommended to consult with a professional financial advisor before investing in cryptocurrency.

  Leeds, England, Feb.  20, 2025  (GLOBE NEWSWIRE) -- The recent Bitcoin price drop has left many investors worried. In such a volatile market, effectively...

Investing in Bitcoin's Downturn: Discover How ICOminer Can Help You Profit Without Fees!

U.Today presents the top three news stories over the past day.

## Ripple CTO Explains Main Difference Between XRP and Bitcoin
Ripple CTO **David Schwartz** recently engaged in an X exchange regarding **XRP** with members of the crypto community. In one of his replies, Schwartz pointed out the main difference between **XRP and Bitcoin's supply dynamics**, stating that, measured in common units, "there is a lot more bitcoin than XRP." The CTO then wrote that the "only reason you get a smaller number of BTC is because BTC is a larger unit of value than XRP." In his opinion, comparing the two assets based only on supply might be misleading; **XRP** has a maximum supply of **100 billion**, while **Bitcoin's** pegged supply stands at **21 million coins**. Additionally, according to **CoinMarketCap**, Bitcoin's total supply is **19.82 million BTC**, as that of XRP stands at **99.87 billion XRP**. Now, BTC is trading at **$97,946**, and XRP at **$2.73**. At current prices, the supply of Bitcoin remains higher than XRP in dollar terms. Schwartz added: "Measuring in dollars, the supply of Bitcoin is greater than XRP. There is no meaningful sense in which Bitcoin is scarcer than XRP."

## Shiba Inu (SHIB): Reset Point Reached
**Shiba Inu** has reached a potential support level that could become a foundation for a price reversal after a prolonged decline. The formation of a **double bottom pattern** near the **$0.00001485** mark suggests that the meme token may be stabilizing, although overall market conditions remain a concern. Recently, a **death cross** appeared on SHIB's chart, indicating bearish momentum, which has historically led to further price drops but can also precede reversals. For a bullish reversal to be confirmed, SHIB needs to break above key resistance levels, starting with the **50-day moving average** around **$0.00001700**. However, the lack of strong buying interest raises doubts about its ability to recover, and if selling pressure persists, SHIB could drop to **$0.00001300** or lower.

## Brazil Approves First XRP ETF: Details
**Brazil** is on the verge of launching the world's first **XRP-based ETF**. According to the **Comissão de Valores Mobiliários (CVM)**, **Hashdex**, a well-known asset management firm, has received approval to launch the world's first **XRP spot ETF** in Brazil. However, the exact date of the product's listing on the Brazilian Stock Exchange (**B3**) remains unknown. With over **200 million people**, Brazil offers a massive market for crypto investment products; the introduction of an **XRP ETF** will give both institutional and retail investors a great opportunity to invest in the asset without having to deal with the technicalities of private wallets and direct ownership. While other countries like the U.S. are still figuring out their approach to a **XRP ETF**, Brazil is taking a major step forward, with the prestige of the world's first **XRP ETF** coming to the country.

Get the latest news in the crypto industry with U.Today's daily news digest!

Unveiling the Crypto Landscape: XRP vs Bitcoin, Shiba Inu's Reset, and Brazil's Pioneering XRP ETF

## New Lending Product for Onramp Clients

Onramp, a bitcoin-focused financial services firm, has announced a **new partnership with Arch** to offer USD loans secured by **bitcoin collateral**. This innovative product aims to provide clients with a **seamless line of credit** that includes **white-glove service**, **segregated addresses**, and **non-rehypothecated collateral**.

### Insights from Onramp's CEO
Michael Tanguma, the CEO of Onramp, expressed excitement about the collaboration: 
> "As we expand our suite of bitcoin financial services, we're thrilled to partner with Arch, a team that shares our vision for how bitcoin custody and lending should evolve. This product gives our clients the flexibility to tap into the value of their bitcoin holdings while maintaining high standards of security and service."

### Arch's Commitment to Security
Dhruv Patel, CEO of Arch, emphasized the institutional-grade capabilities offered through this partnership:
> "By partnering with Onramp, we're bringing institutional-grade capabilities - like segregated collateral and rigorous address authentication - to a broader segment of bitcoin holders."

### Key Features & Benefits
- **White-Glove Service:** Arch provides dedicated customer service with 24/7 support.
- **Segregated & Non-Rehypothecated Collateral:** Clients' bitcoin is held in separately verified addresses for maximum transparency and security.
- **Security & Compliance:** Collateral is stored with a leading custodian, Anchorage, ensuring robustness and compliance across US states and international jurisdictions.
- **Flexible Loan Terms:** Access up to **50% Loan-to-Value (LTV)** with two-year fixed terms and no early repayment penalties.
- **Transparent Liquidation Process:** Capped at **50% LTV**, with margin calls at **60% LTV** and automated liquidations at **70% LTV**.
- **Future-Ready Collaboration:** Plans to migrate the offering to Onramp's multi-institution custody standard as it evolves.

Arch sources capital for these loans from a traditional finance CLO facility, ensuring reliable liquidity. Clients can receive loan proceeds in **USD or select stablecoins**, with an option to roll over the loan at the end of each term.

### About Onramp
Onramp provides top-tier financial products and solutions for high-net-worth individuals and institutions looking to invest in bitcoin while minimizing counterparty risk.

### About Arch
Arch is dedicated to delivering secure, reliable, and transparent liquidity solutions in the digital asset lending space. Their policies ensure clients benefit from a white-glove experience and industry-leading security.

New Lending Product Enables White-Glove, Secure Access to Liquidity for Onramp Clients

Unlocking Bitcoin's Potential: Onramp's New USD Loans with Arch Partnership

### Metaplanet Hits a Major Milestone

Metaplanet has now accumulated **2,100 BTC**, representing **0.01%** of the total Bitcoin supply of **21 million BTC**. Recently, the Tokyo-listed firm purchased **68.59 BTC** for **$6.6 million** at an average price of **$96,335** per Bitcoin.

### Stock Performance

Following this acquisition, shares of Metaplanet have seen a **1% increase** in the market, trading at **6,260 JPY**.

### Funding and Future Plans

According to **Dylan Le Clair**, Metaplanet raised **$20 million** in equity capital during the first two trading days of its **"21 million plan"**. Furthermore, it was announced on **February 18** that the company will execute a **10-1 stock split** on **April 1**, just eight months after a **1-for-10 reverse split**.

![Metaplanet](https://cdn.sanity.io/images/s3y3vcno/production/afb72db5244609c27e04ac1bb3950f260319c35e-3840x2160.png?auto=format)

### Key Takeaways
- **Total BTC Holdings:** 2,100 BTC (0.01% of total supply)
- **Recent Purchase:** 68.59 BTC at $96,335 each
- **Market Reaction:** Shares up 1%, trading at 6,260 JPY
- **Equity Raised:** $20 million in first two days of trading
- **Upcoming Stock Split:** 10-1 split on April 1

Metaplanet continues to expand its Bitcoin holdings and solidify its position in the market.

Metaplanet reaches a milestone of 0.01% of the total bitcoin supply. 

Metaplanet's Bitcoin Holdings Surge: Discover How They Acquired 68 More BTC!

The **SEC's regulatory shift** has ignited optimism in the crypto markets, particularly for **XRP**, which recently rallied **6.90%** amid the SEC's withdrawal of its appeal in a significant lawsuit. This development has raised speculation about a potential **XRP-spot ETF** approval, further boosting market sentiment.

### SEC's Appeal Withdrawal
The SEC, now under the leadership of **Mark Uyeda**, has voluntarily dismissed its appeal regarding the **Dealer Rule**, which sought to redefine the classification of crypto trading firms. The **Blockchain Association** hailed this as a victory for innovation in the crypto space.

> "Today, under new leadership at the agency, the SEC voluntarily dismissed its appeal, marking a total victory in the case not only for us, but for the innovators, entrepreneurs, and builders across America," stated a representative from the Blockchain Association.

### SEC's Focus on Crypto Cases
Following this withdrawal, the SEC has prioritized cases with imminent deadlines, suggesting that the agency may soon withdraw its appeal concerning **Ripple's XRP** programmatic sales. With the next deadline approaching on **April 16**, the SEC appears to be focusing on cases that require immediate attention.

### Positive Market Sentiment
On **February 19**, the SEC acknowledged **19b-4 applications** for XRP-spot ETFs from various financial institutions, fueling **optimism** in the market. This acknowledgment coincided with XRP's impressive price performance, closing at **$2.7379**.

### XRP Price Outlook
XRP's recent rally has been driven by speculation surrounding the SEC potentially withdrawing its Ripple case appeal and the positive developments regarding XRP-spot ETFs. Here are some potential price scenarios:
- **Bullish Case**: If the SEC withdraws its appeal, XRP could surpass its all-time high of **$3.5505**.
- **ETF Catalyst**: Approval of an XRP-spot ETF could push prices toward **$5**.
- **Bearish Case**: Continued SEC appeals may lead XRP below **$1.50**.

### Bitcoin Market Sentiment
In contrast, the **Bitcoin** market is facing headwinds, with reports of significant outflows in the US BTC-spot ETF market amid concerns regarding inflation and potential Fed policy changes. Despite a slight recovery, BTC experienced outflows totaling **$64.1 million**.

### Strategic Bitcoin Reserve Potential
The discussion of establishing a **US Strategic Bitcoin Reserve** could greatly influence Bitcoin's market dynamics. Legal expert **John E. Deaton** suggested that if the US government begins purchasing BTC, it could trigger a wave of adoption among other nations, potentially driving BTC prices to unprecedented levels.

### Bitcoin Price Outlook
On February 19, BTC closed at **$96,387**, marking a slight gain. Key price scenarios for BTC include:
- **Bearish**: Positive US data and rising tariff tensions could push BTC toward **$90,000**.
- **Bullish**: Weak US services data and progress on a Strategic Reserve could drive BTC towards its all-time high of **$109,312**.

SEC’s regulatory shift sparks optimism for crypto markets. XRP-spot ETF speculation grows as the SEC acknowledges new applications.

Bitcoin Surges Towards $98K After Eric Trump's Bold BTC Investment Statement

Summary:

Bitcoin Nears $98K as Eric Trump Advocates for BTC Investment

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Other Latest News

The Controversial Rise of Pi Network: What You Need to Know

Investing in Bitcoin's Downturn: Discover How ICOminer Can Help You Profit Without Fees!

Unveiling the Crypto Landscape: XRP vs Bitcoin, Shiba Inu's Reset, and Brazil's Pioneering XRP ETF

Unlocking Bitcoin's Potential: Onramp's New USD Loans with Arch Partnership

Metaplanet's Bitcoin Holdings Surge: Discover How They Acquired 68 More BTC!

XRP Surges 6.9% as SEC Withdraws Appeal: What This Means for Bitcoin and the Crypto Market

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Investing in Bitcoin's Downturn: Discover How ICOminer Can Help You Profit Without Fees!

Unveiling the Crypto Landscape: XRP vs Bitcoin, Shiba Inu's Reset, and Brazil's Pioneering XRP ETF

Unlocking Bitcoin's Potential: Onramp's New USD Loans with Arch Partnership

Metaplanet's Bitcoin Holdings Surge: Discover How They Acquired 68 More BTC!

XRP Surges 6.9% as SEC Withdraws Appeal: What This Means for Bitcoin and the Crypto Market