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Crypto

Jim Cramer calls bitcoin and gold \'bad money\' as funds shift to tech stocks

U.S. investment commentator Jim Cramer has labelled both bitcoin and gold as \"bad money\" and said market funds are moving into high-growth technology shares such as Nvidia and Apple. Blockchain outlet U.Today reported that Cramer sees bitcoin and gold being liquidated while artificial intelligence-related stocks absorb the money. His remarks follow stronger criticism of Strategy and its bitcoin sales. Market participants also point to AI-driven capital concentration as weighing on bitcoin.

Crypto

Hayes warns AI bubble burst could hit crypto, sells altcoins and focuses on BTC and ETH

BitMEX co-founder Arthur Hayes said he has sold all major altcoin holdings and refocused his crypto portfolio on bitcoin and ether. He warned that if enthusiasm for investment in the AI industry fades in the short term, risk assets broadly could face a correction. Hayes cited oil prices, potential large IPOs by SpaceX, Anthropic and OpenAI, and possible anti-AI policies by U.S. President Donald Trump as key factors that could shake the AI boom.

Crypto

FTX founder Sam Bankman-Fried seeks official pardon from Trump administration

FTX co-founder Sam Bankman-Fried has formally requested a pardon from the Trump administration, filing an application under the U.S. Justice Department’s pardon attorney process, Decrypt reported. Bankman-Fried is serving a 25-year prison sentence after a 2024 conviction for fraud and conspiracy. The reasons for his request have not been confirmed because the filing is confidential. He has said he would accept a pardon if offered.