Market
Nobody Kidnapped Ledger Co-Founder Eric Larchevêque

In a bizarre development, an alleged kidnapping story of Ledger co-founder Eric Larchevêque is apparently a hoax. There is little information about Larchevêque‘s current whereabouts, but a “Justice for Eric” meme coin launched and crashed.
This strange episode took off like wildfire through crypto social media, but there was apparently not a scrap of proof.
Who Kidnapped Eric Larchevêque?
Ledger, a hardware wallet firm based in France, has experienced some difficulties recently. Its most recent major headlines were related to phishing scams targeting its users. However, today’s incident is far more dramatic.
According to local media, Ledger’s co-founder Eric Larchevêque was kidnapped. The report even alleged that the criminals demanded Bitcoin as a ransom.
This incident raises a lot of questions. For one, Larchevêque hasn’t been involved with Ledger since resigning in 2019. It appears that the kidnapping was staged, but this claim comes from an odd source.
Eventhough the rumor spread like a wildfire across social media, Larchevêque didn’t make any posts clarifying his current state. He’s a fairly active user on X (formerly Twitter), yet his last post was over 24 hours ago.
Instead, local crypto reporter Grégory Raymond stated that it was a hoax.
“We are able to assure that Eric Larchevêque (co-founder of Ledger) is not involved in the kidnapping rumor about him. Be careful with published information that could threaten an ongoing investigation in France and possibly someone else’s life,” Raymond claimed.
He added that “Eric is safe,” but was unable to communicate any other updates. This news did little to alleviate the community’s concerns and indeed only raised further questions.
If Larchevêque isn’t party to this kidnapping, then who is, and who would pretend to kidnap an ex-employee of Ledger?
The firm has been riddled with controversy over the last few years, but this incident takes the cake. Since Larchevêque and the original founders departed, Ledger’s new CEO received a lot of bad press over security concerns.
Also, back in 2023, the firm carried out massive layoffs. However, issues like this wouldn’t explain a fake kidnapping scandal.
Meanwhile, the story was viral enough for meme coin enthusiasts to jump in. An anonymous user launched a “Justice for Eric” meme coin on Solana, but its market cap cratered almost immediately.

Whoever launched it may be totally unrelated to the incident and only intending to do a quick rug pull. It still doesn’t answer any of the biggest lingering questions.
Ultimately, wherever Larchevêque is, or whatever reason Ledger’s name keeps coming up, this hoax highlights a growing issue in crypto. Several popular X accounts immediately began circulating this kidnapping story, even though there was no proof.
This entire episode may be more of a misunderstanding than a deliberate hoax, but it spread like wildfire all the same. The correct details of this story will only surface when Larchevêque gives an update on social media.
Disclaimer
In adherence to the Trust Project guidelines, BeInCrypto is committed to unbiased, transparent reporting. This news article aims to provide accurate, timely information. However, readers are advised to verify facts independently and consult with a professional before making any decisions based on this content. Please note that our Terms and Conditions, Privacy Policy, and Disclaimers have been updated.
Market
This is Why Q2 2025 Could Be Bullish for Crypto Markets

In previous years, trends in the TradFi market have caused risk-on assets like crypto to spike in Q2, especially in April. This could provide a much-needed bullish narrative for the space.
A report from QCP Capital looked at a few trends, such as the S&P 500’s performance, but Bitcoin’s price history over the last decade is the clearest market indicator.
Could Q2 2025 Be Good For Crypto?
According to a new report from QCP Capital, the crypto markets may enter a bullish period in Q2 2025. It draws this conclusion from a few sources, primarily related to the entangled nature of crypto and TradFi markets.
However, this data is corroborated by a broad spectrum of crypto-native trends.
“One of the fastest US stock downturns in recent history may well be behind us—or so JPMorgan and a growing chorus of strategists are telling their clients. Q2, and April in particular, has historically been one of the best periods for risk assets,” QCP claimed via Telegram.
With how desperate the crypto market has been for a bullish narrative, this Q2 speculation comes as a breath of fresh air. QCP pointed to recurring trends in TradFi sectors like the S&P 500, and some of these are even more pronounced in crypto.
Case in point, the price of Bitcoin is a great bellwether. Bitcoin is highly linked with the broader crypto market, and it has frequently rallied in Q2, especially in April.
For example, in 2017, Bitcoin’s price hovered around $1,000 until it broke $2,000 in mid-May, prompting a bigger rally. In 2021, a gargantuan price spike culminated in April and briefly dropped in May.

In 2024, Q2 was a significant bullish period for crypto. BTC climbed quickly after the approval of Bitcoin Spot ETFs in January, breaching $60,000 in late February and early March, setting a new all-time high by April.
At the same time, high-yield credit markets demonstrated a solid performance, with CC-rated bonds overperforming. This shows a healthy appetite for risk-on assets.
Additionally, receding tariff fears are already causing a jump in risk-on-asset performance across the board in 2025. Hopefully, this retreat will continue boosting crypto markets in Q2.
If these broader trends continue like they have in previous years, the market might enter a positive cycle in the coming months.
Disclaimer
In adherence to the Trust Project guidelines, BeInCrypto is committed to unbiased, transparent reporting. This news article aims to provide accurate, timely information. However, readers are advised to verify facts independently and consult with a professional before making any decisions based on this content. Please note that our Terms and Conditions, Privacy Policy, and Disclaimers have been updated.
Market
Former CFTC Chair Flags Risks in Trump’s Crypto Ventures

In an exclusive interview with BeInCrypto, former US CFTC Commissioner Timothy Massad explains how President Trump’s crypto ventures and political power have significantly overlapped in his first two months at the White House.
Shortly before assuming office for the second time, US President Donald Trump dove head-first into a flurry of crypto experiments. From endorsing World Liberty Financial (WLFI) to launching his meme coin, Trump is raising serious concerns over conflicts of interest. Tim Massad, the 12th CFTC Chairman, who served under Barack Obama, shares his thoughts.
A Historic President For Many Reasons
Before assuming his first term in office in 2016, President Trump broke with modern precedent by departing from established conflict-of-interest norms. A real estate mogul with a trademark for a last name, Trump would be entering the Oval Office as the leader of a multi-billion dollar empire.
While former presidents like Jimmy Carter and George W. Bush took measures to separate themselves from their businesses by placing their assets in a blind trust, the sitting President took a different approach.
Instead, Trump handed day-to-day management decisions over to his sons but did not divest in his ownership stake.
Though he received much backlash during his first term over conflict of interest concerns, Trump refused to relinquish ownership of the Trump Organization before assuming office for the second time.
However, the ‘conflict of interest’ has reached a new level this time, compared to 2016. Today, his ventures extend far beyond real estate. Trump has now secured a significant footing in the crypto industry.
Given Trump’s favorable stance toward digital asset policy development, players inside and outside the industry have begun to wonder whether his decisions are based on the sector’s best interests or are designed to benefit his own ventures.
How Deep is Trump’s Involvement in World Liberty Financial?
Though Trump does not have a direct role in WLFI, he appears on the whitepaper’s list of supporting teams as “Chief Crypto Advocate.” His three sons, Eric, Donald Jr., and Barron, are also on the list.
Reports further unveiled that the Trump family holds a 75% stake in the platform’s net revenue and a 60% stake in the holding company. At the same time, Trump and his associates own 22.5 billion of the company’s tokens.
For former CFTC Commissioner Tim Massad, despite Trump’s informal role in WLF’s governance, his stake in the platform’s performance raises serious conflicts of interest.
“I think it’s unprecedented and plainly wrong for a President of the United States to engage in commercial ventures or have his family and associates engage in commercial ventures that can be directly influenced by the policies he adopts as President or the statements he makes about those policies,” Massad told BeInCrypto.
Meanwhile, the tokens themselves are non-transferrable, limiting financial flexibility. Though the project aims to provide token holders access to a range of DeFi-related products and services, it has yet to launch them. In the meantime, token holders will have to wait until the time comes to use their tokens.
“I have yet to see any real business case or utility that’s of value to people who invest. So I think it all just has a character of taking advantage of people,” Massad added.
The industry has also grown weary over how WLF and other Trump-endorsed projects could be used to gain the President’s favor.
Industry Leaders Voice Concerns Over World Liberty Financial’s Legitimacy
Shortly before Trump launched World Liberty Financial, many prominent figures in the crypto sector warned that the project could cause Trump further legal troubles. Meanwhile, Alex Miller, CEO of Web3 platform Hiro, described the project as an “obvious pump scheme.”
Meanwhile, Alex Miller, CEO of Web3 platform Hiro, described the project as an “obvious pump scheme.”
Other industry leaders, such as Mark Cuban, Max Keiser, and Anthony Scaramucci, also criticized Trump’s decision to proceed with WLF’s token sales. Trump’s involvement in the project heightened fears that crypto’s fragile public image and controversial reputation would be smeared further.
Massad agreed with this last point, adding that crypto policy development is alive and well today more than ever. The ongoing development of stablecoin regulations, open talks of a national crypto strategic reserve, and a Senate-driven digital asset working group are only some of the current institutional initiatives.
“He, the Trump Organization and his family members should not be engaging in commercial ventures that pose such blatant conflicts of interest, given the fact that crypto regulation and things like a potential Bitcoin reserve are important policy issues today. A US president shouldn’t be engaging in these things at all, in my view,” Massad said.
Since the project’s launch six months ago, several examples validating these concerns have emerged. The most notable one has focused on Tron founder Justin Sun.
Justin Sun’s Controversial Investment in WLFI
TRON founder Justin Sun became World Liberty Financial’s largest investor in November after buying $30 million worth of WLF tokens.
The move was highly controversial. Despite Trump’s endorsement, WLFI struggled to meet its $30 million fundraising target during its first public sale. The token’s availability was restricted, excluding general trading and limiting purchases to non-US and accredited US investors.
Sun’s investment turned WLFI’s luck around. Soon after that, he also became one of the project’s advisors. Then, on the day of Trump’s inauguration, Sun invested an additional $45 million in the project, bringing the total sum to $75 million.
This investment brought varying degrees of scrutiny. While some questioned his quick transition from investor to advisor, others pointed to Sun’s past as a potential motive for his contributions.
In March 2023, the SEC filed fraud charges and other securities law violations against Sun and his companies. This regulatory baggage has led some industry leaders to question the wisdom of his association with World Liberty Financial.
Meanwhile, Tron’s price soared following Sun’s latest WLF investment. Tron, which had been experiencing lagging prices up until that point, was able to jumpstart its trading activities.

However, these conflicts of interest are not just limited to Sun’s investment.
Potential Binance Stake and Further Conflicts
Less than two weeks ago, reports surfaced that the Trump family had held talks to acquire a financial stake in Binance’s US division. Though Binance’s founder, Changpeng Zhao, discredited these reports, flirting with the theory comes easily.
Zhao could also benefit from an agreement. In 2023, he pleaded guilty to federal charges for failing to implement adequate anti-money-laundering measures at Binance.
Following his plea, Zhao resigned as Binance’s CEO. Motive-driven speculations point toward the possibility of a potential presidential pardon.
For Massad, maneuvers like these are natural when a president directly involves himself in crypto ventures.
“I think there is a huge risk of conflicts of interest and corruption by virtue of the President and people associated with him selling crypto assets—whether that’s through World Liberty Financial or the meme coins. It creates the potential for ongoing conflicts, because people who might want to curry favor with the administration could buy the coins,” Massad told BeInCrypto.
All the while, Trump benefits his crypto ventures every time he makes a pro-crypto announcement.
Is Trump Manipulating the Crypto Market?
A week into March, Trump signed an executive order to establish a Crypto Strategic Reserve and a US Digital Asset Stockpile. In his original announcement, Trump said the reserve would include Bitcoin, Ethereum, and altcoins like XRP, ADA, and SOL.
The crypto market responded immediately, with all five cryptocurrencies posting strong gains. Yet, Trump’s announcement quickly raised concerns over potential market manipulation.
With Bitcoin, Ethereum, and XRP in its treasury, WLF’s holdings grew in value as those assets appreciated. This growth could have boosted investor confidence, leading to higher demand for WLF tokens.
The crypto market’s overall surge and attention to Trump-related projects also generated greater investor interest in WLF, contributing to its price appreciation.
Meanwhile, Trump’s meme coin surged following the President’s reserve announcement. While TRUMP’s price stood at $13.55, with a trading volume of almost $1.2 billion on March 2, those numbers surged to $17.46 and $3.6 billion, respectively, following the news a day later.

On March 4, TRUMP’s price and trading volume plummeted below the numbers they registered only two days earlier.
“I think the meme coins have looked like a classic pump-and-dump scheme or money grab. I don’t think the issue should be, why not let people invest in these things if they want to? Of course they should have the right to invest in whatever they want. The issue is the propriety of the President of the United States selling things that capitalize on his being the President,” said Massad.
Even Ethereum Co-Founder Vitalik Buterin touched on the damaging effects of political meme coins in a social media post published five days after TRUMP’s launch.
“Now is the time to talk about the fact that large-scale political coins cross a further line: they are not just sources of fun, whose harm is at most contained to mistakes made by voluntary participants, they are vehicles for unlimited political bribery, including from foreign nation states,” Buterin said.
Given Trump’s active participation in the crypto industry over the past several months, a vital question remains: Why hasn’t Trump been held accountable over these apparent conflicts of interest?
The answer remains short and bitter: He can’t be.
Can Trump Be Held Accountable?
The potential conflicts of interest arising from Donald Trump’s involvement in the cryptocurrency industry have drawn the attention of various political figures, particularly those focused on government ethics and oversight.
US Senator Elizabeth Warren has been the most vocal opponent of Trump’s dealings in the crypto industry.
A day before the White House Digital Assets Summit, Warren sent an extensive letter to Trump’s crypto czar, David Sacks.
“I write today to request information about how you, as President Trump’s ‘Crypto Czar,’ have addressed your conflicts of interest, and how you will prevent the President and other private individuals from directly profiting off of the Trump Administration’s efforts to selectively pump the value of certain crypto assets, drop crypto asset-related enforcement actions, and deregulate the crypto asset industry. These actions have the potential to benefit billionaire investors, Trump Administration insiders, and speculators at the expense of middle-class families,” Elizabeth Warren wrote.
However, not much else can be done beyond letters that demand responses and clarifications from the Trump administration.
The Legal Loophole
US Presidents are largely exempted from conflict of interest provisions. This exemption has been based on legal interpretations that argue these laws could impede the President’s ability to fulfill their constitutional duties.
“The problem is, the POTUS is not subject to the conflict-of-interest laws that apply to most other executive branch officeholders. There is the Foreign Emoluments Clause in the Constitution, which prohibits accepting gifts from foreign countries. There’s also a domestic clause that prohibits accepting gifts from the government. But beyond that, he’s not subject to the usual conflict-of-interest standards. So, it’s unfortunate that we don’t have those standards applicable to a president. I think, had any other president done these things, there would be far more outrage,” Massad told BeInCrypto.
Given the legal circumstances, public scrutiny and political pressure are the best ways to hold a president accountable for potential conflicts of interest.
Yet, despite the legal exemptions for sitting presidents, the ethical implications of Trump’s crypto dealings remain undeniable.
As the lines between political power and personal profit continue to blur, the necessity for clear ethical standards, even without legal mandates, becomes increasingly urgent.
Failing to do so might erode public trust in the crypto industry, generating potentially irreversible consequences.
Disclaimer
Following the Trust Project guidelines, this feature article presents opinions and perspectives from industry experts or individuals. BeInCrypto is dedicated to transparent reporting, but the views expressed in this article do not necessarily reflect those of BeInCrypto or its staff. Readers should verify information independently and consult with a professional before making decisions based on this content. Please note that our Terms and Conditions, Privacy Policy, and Disclaimers have been updated.
Market
GameStop To Buy Bitcoin After Disappointing Q4 Earnings Report

GameStop announced today that it will invest in Bitcoin as a treasury reserve asset. This statement came shortly after GameStop’s Q4 2024 earnings report, which showed declining sales volume.
Despite this worrying financial report, the Bitcoin announcement boosted the firm’s stock value by around 6%. Limited crypto exposure is expected to strengthen the company’s financial position in 2025.
Will GameStop Follow MicroStrategy’s Bitcoin Plan?
GameStop, an American video game and electronics retailer, has dabbled in crypto and Web3 on several occasions. After a Reddit-driven stock squeeze in 2021, the firm has been open to new financial ecosystems, even if they don’t always pan out.
In that trend, GameStop’s latest press release states that the company will begin purchasing Bitcoin:
“GameStop today announced that its board has unanimously approved an update to its investment policy to add Bitcoin as a treasury reserve asset,” the press release claimed.
Rumors about GameStop’s possible Bitcoin investment have been circulating since last month. The firm’s CEO, Ryan Cohen, was photographed with Michael Saylor, who led his company to become a major Bitcoin holder.
The community began speculating that Saylor’s actions could serve as a blueprint for GameStop, and this was evidently well-founded.
GameStop’s board unanimously voted to buy Bitcoin on the same day the firm released its Q4 2024 earnings report. The results were significantly underwhelming. Its Q4 YoY net sales were down over half a billion dollars, and it sold nearly $1.5 billion less of merchandise in 2024 than in 2023.
Expenses were down, and net income was higher, but these are serious losses.
In other words, GameStop may be taking a much-needed gamble with this Bitcoin investment. Although its earnings trends were worrying, the company hasn’t festered into a full-blown crisis yet.
Meanwhile, since the announcement, GameStop’s after-hours stock price has jumped as high as 6%.

Since Bitcoin’s incremental annual growth rate, this bet may pay off for GameStop. Like MicroStrategy, controlled Bitcoin exposure could help drive the company’s annual revenue in a bullish market. Overall, the retailer may be able to use Bitcoin to buoy its stock value while continuing its normal business operations.
Disclaimer
In adherence to the Trust Project guidelines, BeInCrypto is committed to unbiased, transparent reporting. This news article aims to provide accurate, timely information. However, readers are advised to verify facts independently and consult with a professional before making any decisions based on this content. Please note that our Terms and Conditions, Privacy Policy, and Disclaimers have been updated.
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