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🌙 Bitcoin Slips to $93,000 as U.S. GDP Decline Stokes Recession Fears

U.S. gross domestic product (GDP) declined by 0.3% in the first quarter, well below economists’ expectations for a 0.3% gain, and marking the lowest reading since Q2 2022.

Author

Mike Gavela
April 30, 2025

In partnership with

Crypto Roundup - April 29

Bitcoin slipped to $93,000 amid renewed fears of a U.S. recession following weaker-than-expected GDP data. Meanwhile, the regulatory environment showed signs of softening as the SEC dropped its investigation into PayPal’s PYUSD stablecoin. In a major industry development, Ripple reportedly offered $4–$5 billion to acquire Circle, the issuer of USDC, signaling heightened competition in the stablecoin space.

Top Stories

  • Bitcoin falls to $93,000 as U.S. GDP growth slows to 1.6%, raising concerns of a broader economic downturn.

  • SEC ends probe into PayPal’s PYUSD, signaling a potential shift in regulatory posture toward stablecoins.

  • Ripple reportedly bids $4B–$5B for Circle, aiming to challenge USDC's dominance and expand its stablecoin footprint.

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TOP STORIES

Bitcoin Slips to $93,000 as U.S. GDP Decline Stokes Recession Fears - "The Defiant"

Ether declined by 3%, while SOL and XRP plunged by 4% and 6%, respectively.

thedefiant.io/news/markets/bitcoin-slips-to-usd93-000-as-u-s-gdp-decline-stokes-recession-fears

SEC Drops Probe Into PayPal's PYUSD Stablecoin - Decrypt

The U.S. regulator has ended its investigation into PayPal’s stablecoin, as Congress advances efforts to regulate the sector.

decrypt.co/317093/sec-drops-probe-into-paypals-pyusd-stablecoin

XRP Issuer Ripple Reportedly Offered to Buy USDC Issuer Circle

The offer was rejected as too low, according to the story.

www.coindesk.com/business/2025/04/30/ripple-offered-4b-5b-for-stablecoin-issuer-circle-bloomberg

FUNDRAISING

Exclusive: Stablecoin company Zar raises $7 million in round led by Dragonfly Capital, Andreessen Horowitz and VanEck Ventures

The company will use the money to expand its team and roll out its flagship service.

fortune.com/crypto/2025/04/30/stablecoin-zar-raises-7-million-dragonfly-capital-andreessen-horowitz-vaneck-ventures

OTHER HEADLINES

Celsius ex-boss Alex Mashinsky says he’s no SBF in bid for light sentence

The former CEO of the crypto lender pleaded guilty to fraud. Prosecutors are seeking a 20-year prison term. Mashinsky's lawyers laid out detailed arguments for why he's nowhere near as bad as jailed FTX CEO.

www.dlnews.com/articles/regulation/mashinsky-says-hes-no-sbf-but-prosecutors-say-otherwise

Circle wants its USDC payments network to be the Ripple killer

Crypto exchanges report around $55M in RLUSD volume over the last 24 hours — 99.4% less than Circle’s $9.8B for its much larger USDC.

protos.com/circle-wants-its-usdc-payments-network-to-be-the-ripple-killer

ZachXBT says $330 million bitcoin theft victim is an 'elderly' person in US

The online sleuth reported on Sunday that a "suspicious" transfer worth around 3,520 BTC was made from the victim's wallet.

www.theblock.co/post/352572/zachxbt-says-330-million-bitcoin-theft-victim-is-an-elderly-person-in-us

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