Cryptocurrency

The Daily Hodl reports that the new Chair of the U.S. Securities and Exchange Commission (SEC), Paul Atkins, announced that establishing clear regulatory guidelines for cryptocurrency assets is a top priority for the agency. Atkins, who served as an SEC Commissioner from 2002 to 2008, highlighted this commitment during his recent swearing-in ceremony. This renewed focus comes as the SEC faces increasing pressure to provide regulatory clarity amidst ongoing debates in Congress and varying international approaches to crypto regulation.

The SEC's move towards clarity could significantly impact crypto exchanges, token issuers, and investors. Increased regulatory certainty may lead to wider adoption but also necessitate compliance adjustments. For token issuers, clearer guidelines could help avoid enforcement actions but might also limit token offerings. Investors could benefit from reduced risks, while the SEC will need to allocate resources to balance investor protection with fostering innovation.

The Daily Hodl reports that John D’Agostino, currently the head of institutional strategy at Coinbase, believes Bitcoin is becoming an attractive option for investors seeking a hedge against inflation after gold's recent price surge. D'Agostino stated in a CNBC interview that investors are viewing Bitcoin as a viable alternative after potentially missing out on gains in the gold market. This comes amid ongoing debate about Bitcoin's effectiveness as an inflation hedge and increasing institutional interest in cryptocurrency assets.

Gold prices have seen a significant rally (past event), driven by geopolitical uncertainty and inflation concerns. While some investors may shift to Bitcoin, gold remains a well-established store of value. Increased interest in Bitcoin could potentially drive up its price, benefiting Coinbase through increased trading activity.

CoinDesk reports that Metaplanet, a Japanese company, has expanded its Bitcoin treasury to 5,000 BTC with a recent purchase of 145 BTC. The company claims a 121.1% year-to-date yield in 2025 on its Bitcoin holdings, a number that is likely a typo and should be 2024, given the improbability of such a high return in a short period. This strategy mirrors that of MicroStrategy, a U.S.-based company known for holding Bitcoin as a primary treasury reserve asset.

Metaplanet's aggressive Bitcoin accumulation strategy carries potential risks and rewards for shareholders, exposing them to Bitcoin's volatility. The company's actions could influence other Japanese corporations to consider Bitcoin as a treasury asset, potentially increasing institutional adoption in Japan. The supportive regulatory environment for cryptocurrencies in Japan likely facilitates Metaplanet's strategy.

CoinDesk reports that long-term Bitcoin (BTC) holders (LTHs) are currently accumulating more Bitcoin than short-term holders (STHs) are selling. This trend is observed as BTC's price rebounds above $90,000. Despite this price recovery, a significant number of Bitcoin coins are still held at a loss, indicating that many investors purchased BTC at higher prices.

The behavior of LTHs suggests confidence in Bitcoin's long-term value, while the selling pressure from STHs reflects sensitivity to short-term price fluctuations. This divergence creates a mixed market sentiment, with potential for continued volatility as the market undergoes price discovery and consolidation.

According to NewsBTC, XRP experienced a fresh increase, trading above $2.20 before facing resistance at $2.299 and undergoing a downside correction. Technical analysis indicates that XRP is currently trading above the 100-hourly Simple Moving Average, with a break below a bullish trend line at $2.220. The cryptocurrency might test the $2.150 support zone.

If XRP fails to clear the $2.220 resistance, it could decline towards $2.180 or $2.150. Conversely, a move above $2.30 could send the price towards $2.350 or even higher. Technical indicators like the Hourly MACD and RSI suggest a loss of bullish momentum, with major support levels at $2.180 and $2.150 and major resistance levels at $2.220 and $2.450.

According to NewsBTC, Bitcoin's recent price increase above $90,000, surpassing the realized price of short-term holders, has led to speculation about the sustainability of the rally. CryptoQuant contributor Avocado_onchain cautions that the current market cycle could mirror the double top formation observed in 2021, advising investors to be wary of a potential bull trap. The analyst points to the behavior of 1-3 month BTC holders, who often take profits during rallies, and warns that limited market liquidity and US-China tariff tensions, influenced by statements from current US President Donald Trump, could negatively impact Bitcoin.

Analyst Xanrox also suggests that Bitcoin's breakout from a falling wedge pattern might be a whale-driven trap for retail investors. As of April 24, 2025, Bitcoin is trading at $93,754, up 5.6% in the past 24 hours, but analysts recommend a cautious approach due to the potential for a significant pullback.

The Block reports that BlackRock's IBIT led the US Bitcoin ETF market with $643 million in net inflows on April 23, 2025, contributing to a total daily inflow of $936 million across all US Bitcoin ETFs. This substantial inflow into IBIT represents its largest single-day gain in the last 13 weeks, highlighting strong investor interest in BlackRock's Bitcoin investment product.

The success of IBIT puts pressure on other Bitcoin ETFs to compete for inflows, potentially leading to fee reductions or innovative product offerings. The continued strong inflows into Bitcoin ETFs suggest sustained demand for Bitcoin, potentially supporting its price, though this is contingent on maintaining investor confidence and macroeconomic conditions.

According to CoinDesk, Bitcoin's April 2025 surge is primarily driven by institutional investment, contrasting with retail investors who are reportedly exiting Bitcoin ETFs. This observation comes from a Coinbase executive, though their name was not specified in the article. The trend highlights a potential shift in market influence, where large institutional buyers are outweighing retail selling pressure. Past events, such as the Bitcoin halving in April 2024, have historically preceded price increases due to reduced supply, potentially contributing to the current rally alongside institutional adoption. Spot Bitcoin ETFs, approved in January 2024, have seen fluctuating inflows and outflows, reflecting changing investor sentiment.

CoinDesk reports that major cryptocurrencies, including Dogecoin, Bitcoin, Ethereum, and XRP, are experiencing a downturn as of April 24, 2025, primarily driven by investors taking profits. Dogecoin, known for its volatility, suffered the steepest losses. The article notes that Bitcoin's narrative as a safe-haven asset, mirroring gold's price resilience amid tariff wars and corrections in bond yields and U.S. equities, is being observed, though its reliability remains a subject of debate.

The recent slump suggests a potential cooling-off period for the cryptocurrency market, which could lead to increased volatility in the short term. Investors are advised to consider broader market dynamics and their own risk tolerance, rather than solely relying on the safe-haven narrative surrounding Bitcoin.

According to CoinDesk, Dubai's Virtual Asset Regulatory Authority (VARA) has cautioned against companies falsely claiming to be part of its real estate tokenization pilot. VARA, established in March 2022 to regulate Dubai's virtual asset sector, is currently overseeing a pilot program exploring the tokenization of real estate assets. This program aims to test the regulatory and technical aspects of representing property ownership as digital tokens.

The warning highlights the importance of regulatory compliance for crypto firms operating in Dubai and the need for investors to conduct thorough due diligence. VARA's proactive stance reinforces its commitment to maintaining the integrity of Dubai's virtual asset ecosystem and protecting investors from potential fraud.

Decrypt reports that Metaplanet is aggressively pursuing its Bitcoin accumulation strategy. In April 2025 alone, the company acquired 1,650 Bitcoin, bringing their total holdings above 5,000. This puts them halfway to their stated target of holding 10,000 Bitcoin. The company's strategy mirrors that of MicroStrategy, which pioneered the use of Bitcoin as a primary reserve asset. This move may also be a hedge against the weakening Japanese Yen.

Decrypt reports that Bitcoin's price has surged back to $86,000, with its market dominance at 64%. MicroStrategy has acquired an additional $286 million in BTC. In regulatory news, the SEC has delayed its decision on Ethereum staking ETFs, while Canada is preparing to launch the world's first Solana ETFs this week. Other developments include a whale accumulating $26 million in ETH, issues reported by Binance, KuCoin, and MEXC due to AWS outages, and Visa joining the Paxos and Robinhood stablecoin consortium.

According to Decrypt, the Solana Foundation is shifting its validator strategy to foster greater decentralization. The new policy focuses on removing long-term validators that have a minimal amount of stake delegated to them from external sources. This move addresses past concerns regarding Solana's centralization and aims to improve network stability by ensuring validators are economically incentivized to maintain optimal operation. The foundation believes this will lead to a more robust and resilient network, although smaller validators may face challenges in attracting sufficient stake to remain viable.

The Block reports that Mythical Games will release 'FIFA Rivals,' a mobile game incorporating cryptocurrency elements, in June for both Apple and Android platforms. This launch arrives after Electronic Arts (EA), the previous developer of the FIFA franchise, ended its partnership with FIFA in 2023, now producing their soccer game under the name EA Sports FC. 'FIFA Rivals' represents an opportunity for the FIFA brand to maintain a presence in the gaming market and for Mythical Games to solidify its position in the Web3 gaming space, building upon their experience with games like NFL Rivals, which also utilizes blockchain technology and NFTs.

Decrypt reports that a significant advancement has been made in quantum computing with the successful use of a 56-qubit system to create truly random numbers. These numbers are unpredictable even by the most powerful supercomputers and are essential for robust cryptographic protocols. This development is particularly relevant because current cryptographic algorithms used to secure cryptocurrencies and other sensitive data are vulnerable to attacks from future quantum computers. The creation of these random numbers represents a step forward in developing quantum-resistant cryptography, which is necessary to ensure long-term data security in the face of advancing quantum computing capabilities. However, generating random numbers is only one aspect of quantum-resistant cryptography, and further research is needed to develop fully secure algorithms.

Decrypt reports that the European Data Protection Board (EDPB), the EU's data watchdog, has proposed new guidelines to regulate blockchain data access, raising concerns about conflicts with GDPR. The proposed rules aim to limit how personal data is stored on blockchains, potentially impacting developers building blockchain applications within the EU or handling EU citizens' data. These guidelines are intended to complement the Markets in Crypto-Assets (MiCA) regulation, providing specific guidance on data protection within blockchain applications.

The implications of these guidelines are far-reaching, potentially affecting decentralized finance (DeFi) applications, enterprises using blockchain for various purposes, and EU regulators responsible for enforcement. Developers may need to implement privacy-enhancing technologies or explore alternative blockchain architectures to comply. EU regulators will face challenges in enforcing these guidelines due to the decentralized nature of blockchain technology.

Decrypt reports that Bitcoin has surged back to $93,000, driven by factors including Donald Trump's softened stance on cryptocurrency and substantial inflows into both Bitcoin and Ethereum ETFs, totaling $913 million and $39 million respectively. This positive momentum has also seen a rally in Layer 1 coins like SUI and ETH. However, the European Central Bank (ECB) has expressed concerns about the potential risks to Europe stemming from US support for crypto.

Recent developments also include a partnership between Trump Media and CryptoCom on ETFs, the formation of a $3 billion Bitcoin vehicle by Cantor, Softbank, and Tether, and DeFi Development Corp's purchase of $11.5 million in SOL. Furthermore, ING is the latest traditional finance firm developing a stablecoin, and the Malaysian Prime Minister recently met with CZ, the former CEO of Binance, to discuss cryptocurrency.

According to NewsBTC, Bitcoin has rebounded to over $94,000 after a correction earlier in April 2025. CryptoQuant contributor Carmelo Alemán's analysis indicates that the actual number of newly mined Bitcoins is often less than the projected 450 BTC per day following last year's halving. This discrepancy arises from factors like slower block times and network adjustments, suggesting on-chain metrics provide a more accurate view of Bitcoin's supply than theoretical calculations.

Alemán's findings highlight the importance of monitoring on-chain data for a real-time understanding of Bitcoin's supply dynamics. This is crucial for investors, miners, and analysts to refine market models and profitability estimates, especially during post-halving adjustments. The halving event, which reduces the block reward, aims to control Bitcoin's inflation, but actual supply growth, as revealed by blockchain records, offers a more granular perspective.

According to Cointelegraph, PayPal is set to introduce a 3.7% yield on PYUSD stablecoin holdings, aiming to boost its usage. The initiative, slated for launch this summer, will reward users monthly in PYUSD, which can be exchanged for fiat, spent, or sent to other users. This move follows PYUSD's market cap reaching $1 billion in the summer of 2024, though it currently stands at $873.3 million.

Tzahi Kanza, CEO of Syndika, notes that PayPal must ensure the yield doesn't classify PYUSD as a security, highlighting regulatory considerations. PayPal has also recently expanded its crypto offerings to include Chainlink (LINK) and Solana (SOL) for US users and has been cited by Polygon Labs CEO Marc Boiron as a catalyst for stablecoin growth. PYUSD, launched in August 2023, is a US dollar-pegged stablecoin issued by Paxos Trust Company on behalf of PayPal and is backed by cash deposits and short-term US Treasury notes.

Cointelegraph reports that Riot Platforms has obtained a $100 million credit facility from Coinbase, using its Bitcoin reserves as collateral. According to Riot Platforms CEO Jason Les, the loan will support general operations and strategic growth. The credit line matures in one year, with a possible one-year extension, and carries an annual interest rate of at least 9%, tied to the federal funds rate.

The loan is secured by Riot's Bitcoin holdings, which totaled 19,223 BTC as of April. Shares of Riot Platforms (RIOT) initially rose following the announcement but remain down year-to-date due to broader market pressures and cryptocurrency price volatility. Riot is scheduled to release its earnings report for the quarter ending March 31 on May 1.

According to Cointelegraph, Coinbase Derivatives introduced XRP futures contracts on its US derivatives exchange on April 21, 2025, providing investors with new avenues to engage with XRP. The exchange offers Nano XRP futures (500 XRP per contract) for retail traders and Standard XRP futures (10,000 XRP per contract) for larger institutions, both cash-settled in USD. These futures allow traders to speculate on XRP's price without directly holding the asset, offering leverage and hedging opportunities.

However, the launch coincides with increased regulatory scrutiny, as Oregon's Attorney General has sued Coinbase, claiming the exchange offered unregistered securities, including XRP. This lawsuit, filed after the SEC dropped its case against Ripple and days after Coinbase listed XRP futures, alleges that several digital assets traded on the platform qualify as investment contracts under state law.

According to Cointelegraph, Bitcoin's price rallied to near $95,000 on April 23, supported by increasing inflows into spot Bitcoin ETFs and positive macroeconomic news. Analysts from Standard Chartered and Intellectia AI project a potential price surge to $200,000 in 2025, driven by institutional demand and Bitcoin's role as a macroeconomic hedge. However, 10x Research's head of research, Markus Thielen, currently holds the position of head of research at 10x Research, questions the rally's sustainability due to low stablecoin minting activity.

The article further provides technical analysis-based price predictions for Ether, XRP, BNB, Solana, Dogecoin, Cardano, Chainlink, Avalanche, and Sui. These predictions outline potential resistance and support levels, along with bullish and bearish scenarios for each cryptocurrency, based on chart patterns and technical indicators like moving averages and the Relative Strength Index (RSI).

According to Cointelegraph, the SEC's crypto task force engaged with El Salvador's CNAD to explore regulatory collaboration and a proposed sandbox program allowing US-licensed brokers to operate in El Salvador with 'non-securities' tokens. The discussions occurred against the backdrop of US-El Salvador relations strained by immigration and deportation issues, including a controversial $6 million deal from the past Trump administration. Recently, Paul Atkins assumed the role of SEC chair, stating his commitment to establishing a solid regulatory framework for digital assets, potentially influencing the SEC's future approach to cross-border crypto regulation.

According to Cointelegraph, the Alabama Securities Commission dismissed its lawsuit against Coinbase on April 23, 2025, which accused the crypto exchange of violating securities laws through its staking services. The commission stated that the SEC's work in developing crypto regulations prompted the decision, allowing policymakers time to consider regulatory constructs. This action mirrors similar dismissals by Vermont, South Carolina, and Kentucky in recent weeks.

Despite these developments, Coinbase's Chief Legal Officer, Paul Grewal (current role), noted that five of the original ten states that filed lawsuits against Coinbase are still pursuing litigation. Grewal criticized these states for using taxpayer resources and restricting consumers' access to staking services. The situation highlights the fragmented regulatory landscape for cryptocurrency in the United States.

According to Cointelegraph, United States exchanges are making substantial investments in cryptocurrency derivatives as market turbulence, driven by trade uncertainties, boosts demand. Since late 2024, major exchanges including Coinbase, Robinhood, Kraken, and the Chicago Mercantile Exchange (CME) Group have been introducing new crypto derivatives and considering large-scale acquisitions to dominate the expanding market. The surge in trading activity accelerated after the announcement of tariff plans, with net open interest in Bitcoin futures rising significantly in April.

This increased activity is fueling competition, with exchanges launching new products like Solana (SOL) and XRP (XRP) futures. Coinbase is reportedly in talks to acquire Deribit, while Kraken acquired NinjaTrader in March. David Siemer, CEO of Wave Digital Assets, notes that institutional and retail traders are increasingly using crypto derivatives to manage macroeconomic risks. Nic Roberts-Huntley, CEO of Blueprint Finance, highlights the role of crypto derivatives as hedging mechanisms in a fragmented global trade environment.

According to Cointelegraph, a new Bitcoin treasury company called Twenty One Capital, spearheaded by Jack Mallers, the current CEO of Strike, is set to compete with Michael Saylor's MicroStrategy. Twenty One Capital, backed by Tether, SoftBank, and Cantor Fitzgerald, plans to launch with 42,000 Bitcoin and aims to be the superior investment vehicle for Bitcoin exposure. In other news, US President Donald Trump is reportedly hosting a dinner on May 22 for the top 220 holders of his TRUMP memecoin, subject to background checks.

Furthermore, gaming giant Ubisoft is collaborating with Immutable to release "Might & Magic: Fates," a Web3 card game utilizing Immutable's blockchain infrastructure. The free-to-play game will be available on iOS and Android, allowing players to collect, trade, and customize digital cards.

According to Cointelegraph, sovereign wealth funds and other institutions were accumulating Bitcoin throughout April 2025, while retail traders were selling off their holdings via ETFs and spot markets. John D’Agostino, currently the head of strategy at Coinbase Institutional, stated on CNBC that Bitcoin is trading on characteristics similar to gold, such as scarcity and immutability, making it attractive as a hedge against currency inflation and macroeconomic uncertainty.

Recent developments include Bitcoin surpassing Google in market capitalization and reclaiming its 'decoupling' narrative, suggesting it's acting more independently from traditional financial markets. Companies like Strategy (formerly MicroStrategy), led by Michael Saylor, continue to adopt Bitcoin treasury strategies, with Saylor reporting over 13,000 institutions having direct exposure to Strategy and an estimated 55 million beneficiaries having indirect financial exposure as of April 20, 2025.

According to Cointelegraph, the FBI's Internet Crime Complaint Center (IC3) annual report indicates that Americans lost approximately $9.3 billion to cryptocurrency-related fraud in 2024, based on over 140,000 complaints. This represents a 66% increase in losses compared to the $5.6 billion reported in 2023. The IC3 report, released on April 23, 2025, notes that individuals over 60 were the most affected, with roughly 33,000 complaints and $2.8 billion in losses.

Recent developments include the FBI's "Operation Level Up," which prevented $285 million in potential fraud between January 2024 and January 2025. However, blockchain analytics firm Chainalysis predicts a potential surge in crypto scams in 2025, driven by the increasing accessibility of generative AI for malicious actors. Chainalysis estimates global illicit crypto volume reached $41 billion in 2024, with a significant portion linked to hacking, extortion, trafficking, and scams, including high-profile thefts from exchanges like Bybit and by North Korean hackers.

Cointelegraph reports that Twenty One Capital, a newly formed Bitcoin treasury company spearheaded by Jack Mallers, the current CEO of Strike, seeks to rival MicroStrategy as the preferred investment option for Bitcoin exposure. The company, supported by Tether, SoftBank, and Cantor Fitzgerald, plans to launch with 42,000 Bitcoin and go public through a merger with Cantor Equity Partners, trading under the ticker XXI on the Nasdaq. Twenty One Capital intends to raise $585 million through convertible bonds and equity financing, positioning itself as a 'pure play' Bitcoin investment with additional Bitcoin-focused services.

The firm's strategy involves building Bitcoin debt and equity products, advisory services, a lending platform, and educational resources to promote Bitcoin adoption. Twenty One Capital's entry has already impacted the market, with Cantor Equity Partners shares experiencing a significant price surge. The venture also strengthens ties between Tether and Cantor, which manages Tether's US Treasury reserves. Twenty One will be majority-owned by Tether and Bitfinex, with SoftBank holding a significant minority stake.

According to Cointelegraph, KuCoin has entered the Thai cryptocurrency market by rebranding ERX Company Ltd, which already holds a crypto exchange license from the Thai Securities and Exchange Commission (SEC), as KuCoin Thailand, effective April 22. ERX chief executive Att Tongyai Asavanund states this strengthens their ability to offer localized solutions. Existing ERX users have been migrated to the new KuCoin Thailand platform, with the KuCoin TH app now available on Android and iOS.

KuCoin's entry intensifies competition in Thailand, where eight other companies are licensed to operate crypto exchanges, including major players like Bitkub. This expansion occurs amidst Thailand's cautious approach to crypto, which includes regulatory scrutiny of foreign peer-to-peer platforms and a ban on using crypto for payments since 2022, despite a past announcement in January 2024 of a pilot program to enable tourists to pay using Bitcoin in Phuket, which has yet to launch. KuCoin is also currently trying to get a settlement with the US Commodity Futures Trading Commission resolved after it was sued under the previous administration in March 2024 for violating the Commodity Exchange Act.

According to Cointelegraph, ZKsync has successfully recovered approximately $5.7 million worth of tokens following a security breach on April 15th, 2024. The hacker, who exploited the airdrop distribution contract, agreed to return 90% of the stolen tokens in exchange for a 10% bounty. The funds were transferred to the ZKsync Security Council across three transactions on April 23rd, within the 72-hour safe harbor deadline. Matter Labs, the company behind the ZKsync protocol, also acknowledged the recovery.

The recovered amount surpassed the initial $5 million value due to increases in the market value of ZK and ETH tokens since the attack. The hacker gained access to ZKsync’s admin account and minted 111 million unclaimed ZK tokens by exploiting the `sweepUnclaimed()` function. ZKsync Association plans to release a detailed report on the incident. Despite the recovery, the ZK token price has not seen a significant increase.

According to Decrypt, Cantor Fitzgerald is potentially partnering with SoftBank, Tether, and Bitfinex to launch a $3 billion Bitcoin-focused SPAC named 21 Capital. Brandon Lutnick, currently leading 21 Capital, son of Howard Lutnick (Cantor Fitzgerald's Chairman and CEO), will lead the SPAC, aiming to leverage the increasing interest and value of Bitcoin. The potential deal signifies a major move by Cantor Fitzgerald into the cryptocurrency space and highlights continued interest from established financial institutions like SoftBank in digital assets.

The involvement of Tether and Bitfinex, both entities that have faced regulatory scrutiny in the past, adds a layer of complexity to the deal. The success of 21 Capital will depend on its ability to identify and acquire promising Bitcoin-related ventures, while navigating potential regulatory challenges. This possible investment could impact Bitcoin's price and overall market sentiment, though the actual effect remains to be seen.

According to Decrypt, Jay Clayton has taken charge of the SDNY, Wall Street's powerful prosecutor's office. Clayton's return to government is notable because of his history as SEC Chairman (2017-2020), during which the SEC significantly increased enforcement actions against cryptocurrency companies, particularly regarding unregistered securities offerings. This has raised concerns within the crypto industry about potentially stricter regulation and enforcement under his leadership at the SDNY, as well as how his ties to traditional finance might influence the SDNY's approach to crypto-related cases.

Decrypt reports that Richard Heart, the founder of HEX, is claiming victory after the SEC purportedly abandoned its fraud lawsuit against him. The lawsuit initially accused Heart and his cryptocurrency projects, HEX, PulseChain, and PulseX, of unregistered securities offerings and fraud, alleging misappropriation of investor funds. However, Heart's legal troubles are far from over, as he remains a fugitive wanted by European authorities for alleged tax evasion and assault, a separate legal matter. The SEC's decision to drop the fraud charge, if accurate, doesn't necessarily mean the entire case is dismissed, as the agency may still be pursuing claims related to unregistered securities offerings.

The prices of HEX, PulseChain (PLS), and PulseX (PLSX) have experienced significant volatility, influenced by legal developments and Heart's public statements. The implications of the SEC's action are complex. For HEX investors, it could provide a temporary confidence boost, but Heart's fugitive status and the remaining SEC allegations continue to pose risks. For the SEC, it could be seen as a setback in cryptocurrency regulation, though the agency may be focusing on other aspects of the case. The outcome of the remaining legal proceedings will likely influence future regulatory approaches to cryptocurrency.

Decrypt reports that Bitcoin saw a modest gain after the president indicated that tariffs on China might be reduced substantially. This initial positive reaction was subsequently moderated by remarks from Deputy Secretary of the Treasury, Bessent, who currently oversees international trade and economic policy, suggesting a more cautious outlook on US-China trade relations. Bessent's comments have led investors to adopt a more tempered approach, potentially limiting Bitcoin's upward momentum and impacting altcoins, which tend to follow Bitcoin's performance.

The market's response reflects a cautious optimism, acknowledging the potential benefits of eased trade tensions while recognizing the ongoing complexities and uncertainties surrounding the US-China trade situation. While the president's statement initially boosted risk appetite, Bessent's remarks highlight the need for vigilance and a measured approach to investment decisions, particularly in the cryptocurrency market.

According to Decrypt, the SEC is convening a roundtable tomorrow to address the future of safeguarding digital assets, as crypto custody rules face increasing scrutiny. This event follows the SEC's February 2023 proposed amendment to Rule 206(4)-2 under the Investment Advisers Act of 1940, which seeks to expand the definition of 'custody' to encompass any arrangement where an advisor has control of client assets, including cryptocurrencies, mandating qualified custodians for these assets. The roundtable aims to gather perspectives from industry stakeholders on the challenges and potential solutions related to crypto custody, informing future regulatory actions.

The proposed rule has generated significant pushback from the crypto industry, with concerns regarding the definition of 'qualified custodian,' compliance feasibility for assets involved in staking or DeFi, and the potential for stifling innovation. The SEC is currently engaged in legal battles with crypto firms like Coinbase and Ripple, further complicating the regulatory landscape. The outcome of the SEC's deliberations could lead to stricter regulations for exchanges and custodians, impacting investment advisors and potentially affecting retail investors' access to crypto products.

The Block reports that Cantor Fitzgerald, SoftBank, Bitfinex, and Tether are collaborating on a new Bitcoin venture named 'Twenty One,' with a strategy mirroring MicroStrategy's approach of holding Bitcoin as a primary treasury asset. This multi-billion dollar initiative suggests increasing institutional adoption of Bitcoin and could potentially influence its price. However, Tether's involvement may reignite scrutiny regarding its reserves and transparency, while the scale of the venture is likely to attract attention from regulators focused on compliance and systemic risk.

The Block reports that fan tokens for PSG and FC Barcelona have seen minimal price movement despite their progression in the Champions League on April 15. PSG's fan token increased by 0.5%, while FC Barcelona's rose by 0.6%. This muted response suggests that on-field success alone is not a reliable driver of fan token value. The fan token market, largely driven by platforms like Socios.com, is subject to volatility influenced by broader crypto trends and team-specific news. This highlights the need for teams and platforms to focus on providing meaningful utility and engagement opportunities for token holders beyond speculative trading.

The Block reports that Mark Tyneway, Co-Founder of OP Labs, provided insights into the advancements within the Optimism ecosystem. Tyneway emphasized the significance of the 'Bedrock' upgrade (completed in the past) for enhancing performance and reducing transaction fees. He also discussed the 'Superchain' vision, aiming for interconnected Layer-2 blockchains, and the role of the OP Stack in enabling developers to build on Optimism's technology. Tyneway believes that applications will be the key to the next wave of adoption, offering developers opportunities to create scalable and interoperable decentralized applications and providing users with lower transaction fees and a more seamless DeFi experience.

NewsBTC reports that Ethereum is in a consolidation phase after a fresh rally that saw it surpass the $1,750 resistance level. Currently trading above $1,720 and the 100-hourly Simple Moving Average, ETH is facing immediate resistance near $1,820 and $1,840. A break above $1,880 could lead to further gains, potentially reaching $2,000. Conversely, failure to clear the $1,820 resistance could trigger a decline, with support levels identified at $1,780 and $1,740. Technical indicators, such as the Hourly MACD and RSI, suggest a potential loss of bullish momentum.

According to NewsBTC, market analyst Kevin (@Kev_Capital_TA) analyzed whether Dogecoin could reach $3, a question frequently asked during bull cycles. Kevin believes that if the Federal Reserve cuts rates as expected and Bitcoin reaches $220,000-$250,000, Dogecoin could reach this level, potentially even hitting the 1.618 Fibonacci extension level at $3.94. However, he cautioned that a weaker Bitcoin performance would limit Dogecoin's growth to around its previous all-time highs or $1. He advised investors to focus on market sentiment and macroeconomic factors rather than fixed price targets, advocating for profit-taking during euphoric periods.

Decrypt reports that Bitcoin has surpassed $85,000, while Circle, the issuer of USDC, has filed for an IPO aiming for a $5 billion valuation, a figure that is currently under debate due to mixed financials. The cryptocurrency market is anticipating potential volatility due to tariff-related news. Despite this, institutional interest in Bitcoin is increasing, with Metaplanet purchasing an additional 160 BTC and GameStop considering a $1.48 billion investment in the cryptocurrency.

Other developments include the SEC seeking a delay in the Gemini lawsuit, Cruz introducing the FLARE Act to promote renewable Bitcoin mining, and potential expansion of crypto investment products in Europe by Franklin and BlackRock. Mastercard is also set to enable crypto on its cards, and Grayscale has filed for a Digital Large Cap ETF. Bitcoin network activity is reported to be down to 2021 levels.

Decrypt reports that the crypto market showed resilience even as stocks experienced a major decline. BlackRock is actively engaging with the SEC regarding its spot Bitcoin ETF application, and the SEC has acknowledged Fidelity's filing for a spot Ethereum ETF. In other news, a substantial amount of staked Solana (SOL) is being unlocked, including a large unstaking event by a whale who subsequently moved the funds to Binance, and the Ethereum Pectra upgrade has been postponed to May 7th. Furthermore, Binance Pay now defaults to USDC for user transactions, while Justin Sun, founder of TRON, is again claiming that FUSD is insolvent.

Decrypt reports that the cryptocurrency market is currently facing a substantial downturn, with $1.36 billion liquidated. Bitcoin is showing a 'death cross,' a technical indicator signaling a potential sustained bear market. Ethereum has dropped to its lowest level since December 2022, falling below its 2017 peak, and the ETH/BTC ratio has hit its lowest point since March 2020. Other developments include a whale's $106 million ETH liquidation on Maker, Bitcoin's hashrate reaching 1 Zetahash, and Tether's plans for a new SEC-friendly stablecoin. Grayscale has also filed an S-1 for a Solana ETF, while Circle is reportedly delaying its IPO process.

According to Decrypt, the cryptocurrency market is experiencing a rally driven by a weaker dollar and increasing gold prices. Bitcoin has seen a surge, hitting $87,000, and MicroStrategy may announce a $2 billion Bitcoin purchase. Solana (SOL) has surpassed Ethereum (ETH) in market capitalization staked, with SOL/ETH weekly close reaching new all-time highs. Vitalik Buterin, Ethereum's co-founder, is considering replacing the Ethereum Virtual Machine (EVM) with RISC-V architecture.

Other developments include Charles Schwab's plan to offer crypto trading within a year, public firms holding $56 billion in BTC (a 16% year-over-year increase in Q1), and the European Central Bank (ECB) is set to launch a Digital Euro in October 2025. Standard Chartered forecasts $2 trillion in stablecoins by 2028. Hashkey is launching an XRP tracker fund, and Canary has filed for a staked TRX ETF.

Decrypt reports that Twenty One, a company focused on Bitcoin, is being formed via a SPAC merger supported by Tether, Bitfinex, Cantor Fitzgerald, and SoftBank. The company will have access to a $3.9 billion treasury. This move represents a significant investment in the Bitcoin ecosystem, potentially increasing demand and driving up its price. However, the involvement of Tether and Bitfinex, both of which have faced past controversies and regulatory scrutiny, raises concerns about potential conflicts of interest and the overall stability of the new company. The success of the SPAC merger is also subject to market volatility and investor confidence.

Decrypt reports that the Los Angeles Police Department (LAPD) recovered $2.7 million in stolen Bitcoin mining equipment. The seizure is connected to a larger $3.9 million cargo theft operation believed to be run by a South American criminal organization. The recovered miners represent a significant portion of the stolen goods.

The incident underscores a growing concern regarding cargo theft targeting valuable electronics, including cryptocurrency mining hardware. Law enforcement agencies are increasingly focusing on cryptocurrency-related crimes, requiring specialized training and tools to combat these sophisticated operations. This theft also highlights the need for enhanced security measures within the Bitcoin mining industry and throughout the supply chain to protect against future incidents.

According to Decrypt, elderly Americans experienced significant financial losses due to cryptocurrency scams in 2024, amounting to nearly $3 billion. Despite representing only 17% of the population aged 60 or older, they accounted for a disproportionately high percentage of crypto fraud victims. A concerning trend involves scammers increasingly utilizing crypto ATMs to deceive individuals, instructing them to deposit cash which is then transferred to the criminals' wallets.

Government agencies like the FBI and FTC are launching awareness campaigns and improving inter-agency coordination to combat these scams. The SEC, led by Chair Gary Gensler (current role), has also intensified enforcement actions against crypto firms involved in unregistered securities offerings and fraud. These efforts aim to protect investors and address the growing threat of crypto-related crime.

According to NewsBTC, Bitcoin is showing signs of stability, trading above $91,500 and the 100 hourly Simple Moving Average. A bullish trend line is forming with support at $92,000, suggesting a potential for another price increase if Bitcoin clears the $94,650 resistance zone. The cryptocurrency recently tested this level, reaching a high of $94,635 before consolidating.

However, the report also cautions that if Bitcoin fails to overcome the $94,000 resistance, a downside correction could occur. Key support levels to watch are $93,000 and $92,000. Technical indicators show the MACD losing pace in the bullish zone, indicating a possible weakening of upward momentum, while the RSI remains above 50.

CoinDesk reports that Galaxy Digital is deepening its focus on Artificial Intelligence (AI) and High-Performance Computing (HPC) through an expanded deal with CoreWeave, a cloud provider specializing in GPU-accelerated computing. This move reflects Galaxy Digital's diversification strategy to reduce reliance on the volatile cryptocurrency market. The positive investor response is evident in the company's share price, which has surged 8% and is now 60% higher than its April lows, signaling confidence in Galaxy Digital's ability to capitalize on the growing AI infrastructure demand. Mike Novogratz remains the CEO of Galaxy Digital as of April 24, 2025.

Decrypt reports that SOL Strategies has obtained $500 million through a convertible note to invest in Solana. This move underscores the increasing institutional interest in Solana, which has gained traction due to its faster transaction speeds and lower fees compared to Ethereum, making it a preferred platform for meme coin creation. The investment could further bolster the Solana ecosystem, potentially driving up the price of SOL tokens and attracting more developers and projects to the platform. This also reinforces Solana's position as a strong competitor to Ethereum, potentially spurring innovation across the blockchain space.

Convertible notes, a common financing tool in the crypto industry, allow investors to provide capital in exchange for future equity or tokens, often at a discounted rate. This structure allows SOL Strategies to potentially benefit from Solana's future growth while mitigating some of the immediate risk. The specific allocation strategy of the $500 million is not detailed, but it likely involves purchasing SOL tokens and potentially investing in projects building on the Solana blockchain.

According to NewsBTC, Ethereum has broken through a key technical resistance level, surpassing $1,800 and indicating a resurgence of bullish momentum. This breakout suggests a possible trend reversal after weeks of uncertainty, with investors now aiming for the $2,000 mark. On-chain data from IntoTheBlock indicates only modest resistance ahead, with the largest concentration of potential selling pressure near $1,860.

The cryptocurrency is showing strength by moving above both the 4-hour 200 Moving Average (MA) and Exponential Moving Average (EMA) for the first time since January, further validating the breakout. Maintaining the $1,750 level is crucial for confirming continued upside, while a successful climb past $1,860 could pave the way for a test of the $2,000 psychological barrier.

Decrypt reports that GoMining's 'Miner Wars,' a game where players earn Bitcoin rewards linked to real-world BTC mining, has introduced new features. These additions cater to a wider range of players, from novices to experienced users, potentially increasing the game's appeal and user retention. The game utilizes a virtual mining concept where players acquire virtual miners (NFTs) tied to GoMining's actual Bitcoin mining operations, allowing participation in mining rewards without the complexities of physical hardware.

Decrypt reports that Polygon and Pyse have implemented tokenized EV fleets in Dubai, with plans to potentially extend the project to India. This initiative utilizes blockchain technology to represent ownership and usage rights of electric vehicles as digital tokens, aiming to improve financing, asset tracking, and operational transparency for EV fleet operators. The expansion to India is motivated by the country's rapidly growing EV market, driven by government incentives and increasing environmental awareness, making it a promising environment for blockchain-based EV solutions.

According to Decrypt, a recent malware campaign is exploiting fake PDF converters to compromise cryptocurrency wallets. The malware uses social engineering to trick users into downloading what appears to be legitimate software, which then executes malicious PowerShell commands. These commands download and install further malware, potentially including keyloggers or wallet-stealing software, ultimately aiming to steal private keys or seed phrases and drain cryptocurrency holdings.

This campaign highlights the increasing trend of malware targeting cryptocurrency users and the growing use of PowerShell in malware attacks. Security software vendors need to improve their detection capabilities, and cryptocurrency exchanges should educate their users about these risks and promote security best practices, such as using hardware wallets and multi-factor authentication.

Decrypt reports that Riot Platforms, a Bitcoin mining company, has obtained a $100 million credit facility from Coinbase's lending division. Riot is using a portion of its Bitcoin holdings as collateral for this line of credit, allowing them to draw funds as needed rather than receiving a lump sum. This move provides Riot Platforms with greater financial flexibility to manage operations, potentially fund expansion, or navigate periods of lower Bitcoin prices. For Coinbase, this deal strengthens its position in the institutional crypto lending market and diversifies its revenue streams, demonstrating support for the Bitcoin mining industry.

According to Bitcoin Magazine, Russia's Finance Ministry and the Bank of Russia are developing a new cryptocurrency exchange within an experimental legal regime. The exchange will initially be accessible only to 'super-qualified investors,' a term referring to individuals or entities meeting specific criteria related to net worth, investment experience, or professional qualifications, allowing them access to higher-risk investment products. However, potential changes to these access requirements are currently being discussed.

This initiative reflects Russia's evolving stance on cryptocurrencies, particularly in light of Western sanctions. While the Central Bank has historically been more cautious, the development of this exchange suggests a potential compromise or shift in their position, aiming to explore crypto's potential for international trade and mitigating the impact of sanctions.

According to NewsBTC, Bitcoin's price experienced a significant surge, exceeding $94,000 due to a confluence of factors. A perceived easing of trade tensions between the U.S. and China, signaled by comments from former U.S. President Donald Trump (who is currently a political candidate), initially sparked market optimism. This was followed by reports of a potential $3 billion Bitcoin investment from Cantor Equity Partners, SoftBank, Tether, and Bitfinex, led by Brandon Lutnick, the current chair of Cantor Fitzgerald and son of former Commerce Secretary Howard Lutnick (who left office in 2021).

Adding to the momentum, U.S. spot Bitcoin ETFs saw a resurgence of positive net inflows, totaling $911.2 million on Tuesday, marking the strongest daily total since January 17. Fidelity's FBTC, Ark Invest's ARKB, and BlackRock's IBIT all experienced substantial inflows, while Grayscale Bitcoin Trust (GBTC) reversed weeks of redemptions. This combination of geopolitical factors, institutional investment prospects, and ETF activity drove Bitcoin's price up, reflecting renewed investor confidence.

The Block reports that Ubisoft, under the leadership of CEO Yves Guillemot, is collaborating with Immutable to launch "Might and Magic Fates," a mobile title planned for release in early 2026. This partnership signifies Ubisoft's ongoing interest in Web3 technologies and blockchain gaming, despite past mixed reactions from the gaming community. Immutable, a platform focused on Web3 gaming infrastructure, aims to provide the tools necessary for integrating blockchain elements into the game.

The success of "Might and Magic Fates" could have significant implications for both companies and the broader Web3 gaming landscape. For Ubisoft, it's a relatively low-risk opportunity to experiment with blockchain integration. For Immutable, it's a chance to showcase its platform's capabilities to a major game developer. The game's reception will likely influence the future adoption and perception of Web3 gaming.

The Block reports that the Securities and Exchange Commission (SEC) has filed charges against Ramil Palafox, accusing him of running a $198 million cryptocurrency fraud. The SEC alleges that Palafox violated anti-fraud and registration provisions of federal securities laws. The SEC's complaint details that the scheme involved 'Ponzi-like' payouts to early investors and the misuse of investor funds for personal luxury purchases, including Lamborghinis.

This action is part of the SEC's increased scrutiny of crypto projects, reflecting a broader trend of regulatory enforcement in the cryptocurrency space. The case highlights the risks for crypto investors, the potential pressure on exchanges to enhance vetting processes, and the ongoing debate about cryptocurrency regulation.

The Block reports that Symbiotic, a Paradigm-backed restaking protocol, has raised $29 million in Series A funding. This investment will fuel Symbiotic's expansion from a traditional restaking model to a more comprehensive 'universal staking' platform. This development signals a direct challenge to EigenLayer, the current dominant player in the restaking market, as Symbiotic aims to offer a broader range of staking options and potentially attract users and capital with its new approach. The rise of restaking protocols like Symbiotic could also impact liquid staking derivative (LSD) holders by creating new yield opportunities and provide new blockchain projects with easier access to shared security.

The Block reports that Zora, an onchain social media platform built on the Ethereum Layer-2 network Base, launched its token with a surprise airdrop that has led to user confusion. Unlike typical airdrops, this one was not announced beforehand and requires users to manually claim their tokens, adding friction to the process. This unexpected launch strategy could negatively impact Zora's reputation and user sentiment, especially given the growing popularity of Base and the increasing interest in onchain social media platforms like Farcaster and Lens Protocol.

The unannounced airdrop and manual claim process may discourage participation, particularly among less technically savvy users. This could also lead to increased scrutiny of future airdrops, prompting users to demand clearer communication and more transparent procedures from projects. While the airdrop could increase activity on Base, negative user experiences could indirectly reflect poorly on the network's usability.

The Block reports that Coinbase is expanding its US operations by opening a Charlotte office and adding 130 jobs. This decision follows previous cost-cutting measures, including layoffs, and coincides with a shift in political sentiment as former President Donald Trump has adopted a pro-cryptocurrency stance. CEO Brian Armstrong's past comments about hiring 1,000 employees domestically during a Trump administration add context to this expansion, although the current hiring is a fraction of that original target.

The expansion into Charlotte, a growing tech hub, could signal renewed confidence in the cryptocurrency market and Coinbase's ability to capitalize on future growth. However, it also carries risks related to operating expenses and potential market downturns. The move is anticipated to boost the Charlotte economy and could influence other companies' investment decisions in the crypto space, particularly if a more favorable regulatory environment emerges under a potential Trump administration.

Decrypt reports on recent developments in the cryptocurrency market, noting Bitcoin's fall below its 200-day moving average, a bearish indicator driven partly by miner selling due to higher costs. Despite this, institutional interest persists, with Semler Scientific planning to raise $500 million and Metaplanet issuing $10 million in bonds to purchase Bitcoin. VanEck has also proposed the US refinance debt with BTC.

Other developments include speculation around the potential approval of XRP ETFs, a collaboration between Tether and Ethena on ecosystem development, and OKX's launch of its exchange and wallet in the US. BNB chain completed its 31st quarterly burn. MOVE is set to conduct an internal investigation on its founder, while the new OM CEO will burn all of his team’s tokens.

Decrypt reports that experts are currently analyzing Bitcoin's behavior to determine if it's truly decoupling from its historical correlation with equities. For much of 2022 and early 2023, Bitcoin mirrored the performance of tech stocks, but recent trends suggest it might be acting more as a store of value, similar to gold. However, the article emphasizes that it's too early to definitively conclude that this decoupling is permanent, and macroeconomic factors could still influence Bitcoin's price.

The implications of a sustained decoupling would be significant for investors, potentially offering diversification benefits. It could also bolster Bitcoin's long-term viability as a hedge against economic uncertainty. However, a return to its previous correlation with risk assets could undermine this narrative. The perception of Bitcoin's stability could also influence future regulatory approaches.

Decrypt reports that the Nelk Boys are actively fighting back against a class action lawsuit filed against them in January 2025. The lawsuit centers around their 'Full Send Metacard' NFT project, launched in the past, which promised holders exclusive perks but allegedly suffered a significant drop in value after initial hype. The plaintiffs claim the Nelk Boys misled investors about the NFTs' value and utility. The motion to dismiss, filed by the Nelk Boys' legal team, argues that the lawsuit lacks legal merit, potentially claiming the NFTs were not securities or that no materially false statements were made.

Decrypt reports that Bitcoin experienced a significant rally, surpassing $94,000 and initiating a short liquidation cascade exceeding $300 million. This event occurred as traders holding short positions, betting against Bitcoin's price, were forced to buy Bitcoin to cover their positions and avoid further losses. This buying activity further propelled the price upwards, creating a cascading effect of liquidations.

Several factors contribute to such volatility, including increased institutional adoption of cryptocurrency (a trend observed since at least late 2024), ongoing regulatory uncertainty surrounding digital assets, and the prevalence of leveraged trading, which amplifies both potential gains and losses. These elements create a market susceptible to sudden price swings and liquidation events.

Decrypt reports that the TRUMP meme coin, running on the Solana blockchain and linked to Donald Trump, experienced a significant 66% price increase following the announcement of an exclusive dinner for top holders. This event underscores the speculative nature of meme coins, where prices are often driven by social media sentiment and perceived endorsements rather than fundamental value. The article notes that involvement of political figures in cryptocurrency raises questions about regulatory oversight and potential conflicts of interest.

The surge also highlights the inherent risks for investors in meme coins, which are known for extreme volatility and short-lived price swings. While the article associates the coin with Donald Trump, it does not explicitly state his direct involvement in creating or endorsing the coin beyond the dinner invitation. Further investigation would be needed to determine the extent of his involvement.

According to Decrypt, Sam Bankman-Fried, the former CEO of FTX, has been transferred to a low-security prison. This move follows his time at the Metropolitan Detention Center (MDC) in Brooklyn, known as 'Victimville,' which primarily houses pre-trial detainees. SBF's transfer signifies a shift from pre-trial detainee to convicted inmate status, impacting his daily life and potentially his appeal process.

SBF's imprisonment does not directly affect the ongoing FTX bankruptcy proceedings, which are focused on recovering assets to repay creditors. However, it removes him as a potential source of cooperation. The FTX bankruptcy team continues its efforts amidst concerns about regulation and transparency within the cryptocurrency industry.

Bitcoin Magazine reports that U.S. spot Bitcoin ETFs saw substantial inflows of $912 million on a single day, marking the highest level since January 2024. ARK Investment Management's Bitcoin ETF led these inflows. This surge in ETF activity coincided with Bitcoin's price surpassing $94,000, reflecting increased investor interest and demand.

The increased inflows are likely influenced by the SEC's approval of spot Bitcoin ETFs in January 2024, the Bitcoin halving event in April 2024, and expectations regarding future interest rate policies. Vivek Sen Bitcoin is currently a writer for Bitcoin Magazine.

According to CoinDesk, Ethereum developers are considering a shift from the EVM to RISC-V, an open-source instruction set architecture, to potentially improve performance and scalability. This exploration comes amid ongoing efforts to scale Ethereum through Layer-2 solutions. Recent developments in this area include a lawsuit against Matter Labs, the company behind zkSync, Scroll's Euclid upgrade, and EigenLayer's implementation of a 'slashing' mechanism to penalize validators for malicious behavior or poor performance.

The potential move to RISC-V is not imminent but represents a research direction that could have significant implications for Ethereum developers and users. A successful transition could strengthen Ethereum's position against competing blockchain platforms, while the lawsuit against Matter Labs introduces uncertainty for their zkSync scaling solution and the broader Layer-2 landscape.

According to CoinDesk, a company previously known as Janover is aggressively expanding its cryptocurrency portfolio with Solana (SOL), bringing its total SOL holdings to $48 million. The firm is purchasing locked SOL tokens at discounted rates, capitalizing on their illiquidity compared to readily tradable SOL. This investment strategy is driven by the increasing development and user adoption within Solana's decentralized finance (DeFi) ecosystem, which is seen as a key factor for the long-term appreciation of SOL.

This move reflects a broader shift in the company's business model towards strategic crypto investments. The success of this strategy depends heavily on Solana's performance, potentially impacting both the firm's balance sheet and the overall SOL market dynamics. Increased demand from such acquisitions can drive SOL's price upward, but also introduces volatility due to the influence of large holders.

According to NewsBTC, Bitcoin has broken above the realized price of its short-term holders (STHs), a level considered psychologically significant. This means that STHs, defined as investors holding Bitcoin for less than 155 days, are now collectively in profit. Historically, when Bitcoin's price is above the STH realized price, this level can act as a support during price dips, and a sustained period above this level may signal increased market confidence.

The article notes that Bitcoin briefly fell below the STH realized price earlier this year, potentially causing panic selling among these more reactive investors. The recent price surge, however, suggests a possible return of confidence. On-chain analytics firm Glassnode has been tracking the Realized Price of the Bitcoin short-term holders.

The Block reports that cryptocurrency exchange Gate.io experienced an emergency system upgrade that led to a temporary suspension of its futures services. To address potential user losses incurred during this disruption, Gate.io has promised '100% compensation' to affected users. While futures trading was halted, the exchange clarified that spot trading, deposits, and withdrawals remained operational throughout the upgrade. The specifics of how the compensation will be calculated and distributed are currently undefined, but the pledge aims to maintain user trust amid the service interruption.

According to The Block, former U.S. President Donald Trump is scheduled to host a gala for the top 220 owners of the $TRUMP memecoin, also known as MAGA, at his private golf club in the nation's capital. This event follows Trump's recent shift towards more favorable views on cryptocurrency, including accepting crypto donations for his campaign. The $TRUMP memecoin, launched earlier in 2024, has experienced significant price volatility and is subject to increased regulatory scrutiny, like other memecoins.

This move by Trump could attract younger, tech-savvy voters and raise funds from the crypto community, but it also risks alienating traditional voters. The event may also prompt regulators to examine the intersection of political campaigns and cryptocurrency, particularly concerning campaign finance and securities regulations.

The Block reports that Jack Mallers, currently the CEO of Strike, will head Twenty One Capital, a company focused on large-scale Bitcoin acquisition and management. Twenty One Capital plans to go public through a SPAC merger, bringing with it a $3.6 billion Bitcoin treasury. This would rank it as the third-largest Bitcoin holding among publicly-traded firms. The venture is reportedly backed by Tether, the issuer of USDT, indicating a significant expansion of Tether's involvement in the Bitcoin market beyond its existing reserve holdings. This development could exert upward pressure on Bitcoin prices and further solidify Tether's position within the crypto ecosystem.

Bitcoin Magazine reports that Jack Mallers, who currently serves as CEO of Strike, a Bitcoin-based payments application, will also head the newly formed Twenty One Capital. The company, backed by Tether and SoftBank, intends to launch with a substantial Bitcoin treasury of 42,000 BTC. Twenty One Capital plans to become a publicly traded entity through a Special Purpose Acquisition Company (SPAC) merger.

The launch of Twenty One Capital could accelerate Bitcoin adoption by providing a publicly traded vehicle focused solely on Bitcoin, potentially attracting institutional and retail investors. Tether's investment further solidifies its position in the Bitcoin ecosystem. The acquisition of 42,000 BTC by Twenty One Capital could impact Bitcoin's price by reducing available supply, although the actual effect depends on market conditions.

According to CoinDesk, MicroStrategy's (MSTR) stock is showing signs of a potential short squeeze due to a high volume of failed-to-deliver (FTD) shares, totaling $180 million in March, and significant short interest. Failed-to-deliver shares occur when sellers don't deliver shares by the settlement date, often linked to short selling difficulties. This situation could lead to a rapid price increase if short sellers are forced to cover their positions, potentially benefiting MSTR stockholders.

However, the high FTD volume also indicates increased volatility and risk. Short sellers of MSTR face substantial losses if a short squeeze materializes, while MSTR stockholders could experience a sharp price decline if the squeeze doesn't occur or if Bitcoin's price falls. While a short squeeze in MSTR could indirectly influence Bitcoin's price sentiment, it does not directly impact Bitcoin's fundamentals.

CoinDesk reports that SOL Strategies has obtained a credit facility of up to $500 million. The company intends to use this capital to purchase more Solana (SOL) tokens and further develop its Solana validator business. This move signals increasing institutional confidence in Solana's potential and its ecosystem. The expansion of SOL Strategies' validator business aims to bolster network security and decentralization, but also intensifies competition among validators. The credit facility also provides SOL Strategies with significant capital to expand its operations and potentially generate substantial returns if Solana's ecosystem continues to grow.

CoinDesk reports that Citrea has launched its Clementine Bridge on the Bitcoin testnet. This bridge is designed to tackle the collateral bottleneck that currently limits the use of Bitcoin in DeFi applications. By leveraging the BitVM2 programming language, the Clementine Bridge seeks to enable more efficient and secure utilization of BTC within DeFi ecosystems. This development is a step towards unlocking Bitcoin's liquidity for decentralized financial instruments, potentially leading to new opportunities for Bitcoin holders to earn yield and participate in DeFi activities without needing to sell their Bitcoin.

According to CoinDesk, the Securities and Exchange Commission (SEC) has charged Ramil Palafox, the founder of PGI Global, with fraud related to an alleged $200 million cryptocurrency Ponzi scheme. The SEC claims that Palafox misappropriated more than $57 million of investor funds, using the money to purchase luxury items like Lamborghinis. This case is part of the SEC's increased scrutiny of cryptocurrency investment schemes, highlighting the risks associated with unregulated crypto ventures.

The alleged fraud has implications for crypto investors, emphasizing the need for due diligence and caution when investing in cryptocurrency-related ventures. It also further damages the reputation of the cryptocurrency industry and may prompt stricter regulations. The SEC may seek additional resources to combat crypto-related fraud effectively.

The Block reports that Binance plans to modify its crypto deposit and withdrawal processes for South African users to enhance regulatory compliance. This change will require users to provide information about both the sender and recipient of cryptocurrency transactions. This move aligns with South Africa's broader efforts to establish a regulatory framework for cryptocurrencies, classifying crypto assets as financial products and requiring crypto asset service providers (CASPs) to register with the Financial Sector Conduct Authority (FSCA).

This decision by Binance is part of a larger trend of increased scrutiny from regulators worldwide regarding anti-money laundering (AML) and know-your-customer (KYC) regulations. The implementation of these stricter measures may impact user privacy and convenience, potentially leading some users to seek alternative platforms. However, it could also improve Binance's standing with regulators and attract more institutional investment in the long term.

The Block reports that Scroll, an Ethereum Layer 2 scaling solution utilizing zkEVM technology, has launched its 'Euclid' upgrade. The Scroll team considers Euclid the most significant protocol transformation since the mainnet launch, with the goal of enhancing both network throughput and security. This upgrade likely leverages the reduced transaction costs resulting from Ethereum's Dencun upgrade (March 2024), which introduced 'proto-danksharding'.

The Euclid upgrade is crucial for Scroll to remain competitive in the Layer 2 landscape, which includes projects like Arbitrum, Optimism, and zkSync. Potential benefits for Scroll users include lower transaction fees and faster confirmation times. For developers, improved throughput could enable more complex decentralized applications. The specific metrics of these improvements are not detailed in the article.

The Block reports that Benchmark is targeting a 33% gain for Coinbase stock, driven by the expectation that upcoming digital asset legislation in the U.S. will boost crypto demand. Mark Palmer, currently a Senior Research Analyst at Benchmark, believes that regulatory clarity will act as a catalyst. This positive outlook contrasts with the past, where the U.S. Congress's ongoing debates about crypto regulations and the SEC's enforcement actions against crypto firms, including actions against Coinbase itself in the past, created uncertainty.

This potential regulatory clarity could significantly impact Coinbase's trading volumes and revenue, justifying the price target increase. However, continued uncertainty or unfavorable regulations could hinder Coinbase's growth. More broadly, clear regulations could attract more investors to the US crypto market, while overly restrictive rules could stifle innovation and push businesses elsewhere.

The Block reports that Bitcoin's rally to $94,000 has driven the cryptocurrency market cap past $3 trillion as of April 23, 2025. This surge reflects increased activity in the crypto market, with Ethereum also contributing significantly to the overall market cap. Stablecoins' growth and rising institutional investment are also major factors.

However, analysts cited by The Block warn of a possible pullback or market correction. They point to 'overheating' funding rates in perpetual futures contracts, where buyers are paying high premiums, and rapidly increasing open interest, indicating excessive leverage and speculative activity. These conditions suggest a heightened risk of a sharp price decline if market sentiment shifts.

The Block reports that Infrared, a liquid staking protocol built on the Berachain blockchain, has introduced a points program to incentivize early adoption before its Infrared token launch, expected in Q3 2025. These points will be convertible into the Infrared token upon launch. Raito Bear, the pseudonymous co-founder and CEO of Infrared, confirmed the points program. This initiative aims to attract users and liquidity to the Berachain ecosystem, leveraging the increasing popularity of liquid staking derivatives (LSDs) in decentralized finance (DeFi).

According to The Block, the FBI's Internet Crime Complaint Center (IC3) received reports of $9.3 billion in losses related to cryptocurrency scams in 2024, a 66% increase from the previous year. A significant portion of these losses, nearly $3 billion, was incurred by Americans over the age of 60, highlighting the vulnerability of seniors to these types of fraud.

These scams encompass a wide range of fraudulent activities, including investment schemes, romance scams, and phishing attacks. The rise in these scams damages the crypto industry's reputation, while law enforcement faces challenges in investigating and prosecuting these complex crimes. Organizations like the AARP and FTC have launched awareness campaigns to educate seniors about crypto scams.

According to The Block, Russia is reportedly launching a cryptocurrency exchange targeted at qualified investors. This development follows statements made last month by a Russian official indicating that sanctions would not entirely prevent Russians from participating in the cryptocurrency market. The exchange's launch is viewed in the context of Russia's ongoing efforts to navigate Western sanctions imposed following the invasion of Ukraine, with cryptocurrency seen as a potential tool for bypassing financial restrictions.

The exchange will be accessible only to individuals or entities meeting specific criteria to be defined as 'qualified investors'. While the article doesn't explicitly state the exchange is designed for sanctions circumvention, the context suggests this is a significant underlying motivation. The specific criteria for qualification are not specified in the article but are crucial for understanding the exchange's reach.

Decrypt reports that Bitcoin has shown resilience, rebounding above the $76.5k support level after briefly falling to $74.6k, outperforming traditional markets amidst a stock rout and soaring bond yields. Recent developments include Ripple's $1.25 billion acquisition of broker Hidden Road, Circle minting 250 million USDC, and discussions around the potential impact of CNY devaluation on Bitcoin.

Furthermore, the Justice Department has reportedly disbanded its dedicated crypto unit, while New York proposes using blockchain for elections. Mastercard and Kraken are collaborating on payments in Europe, BitGo is integrating the Lightning Network, and BlackRock has added Anchorage Digital as a custodian. Solana launched Confidential Balances extensions, and WLFI is distributing a stablecoin while selling $8 million in ETH after a $125 million loss. B2C2 may buy a stake in SBI Holdings, and Ledger is set to support SUI.

According to Decrypt, the cryptocurrency market may benefit from the 90-day pause in tariffs between the US and China, as well as a potentially weakening Yuan, which could drive interest in Bitcoin. Recent developments include the Senate confirmation of a pro-crypto individual, Hester Peirce (current SEC Commissioner), as SEC Chairman, potentially leading to a more favorable regulatory environment. The SEC has also approved options trading on ETH ETFs, and 21Shares has filed an S-1 for a DOGE ETF, indicating growing institutional interest in meme coins.

Other recent news includes Bitwise reaffirming its $200,000 BTC price prediction, First Digital Trust suing Justin Sun (current founder of TRON), and the World Food Program USA now accepting crypto donations. Furthermore, Ethereum developer Griffith was recently released from prison, Pakistan is exploring BTC mining with surplus power, and Ukraine is proposing a tax structure for crypto.

Decrypt reports that Fasset is launching Own, a new Ethereum Layer 2 protocol focused on Real-World Asset (RWA) tokenization. Mohammad Raafi Hossain, currently the CEO of Fasset, emphasizes the company's mission to promote financial inclusion through tokenized assets, particularly in emerging markets. Own aims to simplify the creation, management, and distribution of these tokenized RWAs, potentially offering new investment opportunities to underserved populations.

The launch of Own positions Fasset as a significant player in the growing RWA tokenization space. This development contributes to the expansion of the Ethereum ecosystem by providing a specialized Layer 2 solution. The success of Own will depend on its adoption rate and its ability to attract both users and partners within the blockchain and traditional finance sectors.

Decrypt reports on recent developments in the cryptocurrency market, noting Bitcoin's rally and its increasing correlation with gold, while the NASDAQ experiences a downturn. Arthur Hayes, whose current role is not specified in the article, speculates it's the 'last chance to buy BTC below $100k'. Upexi is reportedly building a $90 million Solana treasury, while Galaxy Digital has flipped $105 million from ETH into SOL. In regulatory news, Atkins has been sworn in as SEC chair and is scheduled to meet with Donald Trump, whose current role is not specified in the article; 72 crypto-related ETFs are awaiting SEC approval. Singapore plans to launch Bitcoin perpetual futures in the second half of 2025, and traditional banks like Deutsche Bank and Standard Chartered are seeking to expand their crypto operations in the US.

Decrypt reports that Trump Media & Technology Group (TMTG) is making a $250 million investment in 'Made in America' ETFs that will track cryptocurrency and energy securities. This move includes finalizing a partnership with Crypto.com, leveraging their expertise in cryptocurrency trading and custody solutions. The ETFs aim to offer investors exposure to these sectors, potentially attracting a new investor base to TMTG.

This investment marks a significant shift from Donald Trump's past stance as president, where he was critical of cryptocurrencies. The ETFs will need to navigate regulatory hurdles with the SEC, which has been cautious in approving cryptocurrency-based investment products. The 'Made in America' aspect suggests a focus on domestic companies within the energy and cryptocurrency sectors, though specific criteria require further clarification from TMTG.

Decrypt reports that Janover, a publicly traded real estate technology company, is deepening its involvement in the cryptocurrency space by increasing its Solana holdings and changing its name to DeFi Development Corp. This move represents a significant shift in the company's business strategy, indicating a focus on developing and supporting projects within the Decentralized Finance (DeFi) sector, likely on the Solana blockchain. The company's previous focus was providing software and services to the real estate industry.

This decision reflects a broader trend of traditional companies entering the crypto space, but also carries risks due to the volatility of the DeFi market and potential regulatory scrutiny. The implications for shareholders are increased risk and potential reward, while the Solana ecosystem could benefit from increased legitimacy and adoption. The extent of Janover's Solana holdings before and after this purchase is not explicitly stated, but it is significant enough to warrant a name change and strategic shift.

Decrypt reports that Bitcoin's climb beyond $93,000 has investors considering if the rally can be maintained, given potentially easing macro tensions and a rising money supply. The performance of Bitcoin ETFs is a crucial indicator, with strong inflows suggesting increased demand and supporting price increases, while outflows could signal waning interest. U.S. inflation data is also being closely watched, as lower-than-expected figures could lead to a more relaxed monetary policy from the Federal Reserve, potentially boosting Bitcoin, while high inflation could trigger further rate hikes, negatively impacting its price.

Escalating geopolitical risks can introduce uncertainty into traditional markets, potentially driving some investors towards Bitcoin as a safe-haven asset, though this role is debated. For traders, this environment means increased volatility and the need for robust risk management. Long-term holders should remain vigilant about market conditions and potential regulatory changes. A sustained Bitcoin rally could positively impact the broader cryptocurrency market, but altcoins carry higher risk.

Decrypt reports that Ubisoft is developing 'Might & Magic: Fates,' a new card game built on the Ethereum blockchain, in collaboration with Immutable, slated for release later this year. The game will leverage Immutable X, a Layer-2 scaling solution, to facilitate NFT (Non-Fungible Token) card ownership and trading, aiming to mitigate high gas fees typically associated with Ethereum transactions. Ubisoft's past blockchain initiatives, such as the Quartz NFTs in Ghost Recon Breakpoint, faced player criticism.

The success of 'Might & Magic: Fates' could significantly impact both Ubisoft's future blockchain endeavors and the broader acceptance of blockchain gaming. For Immutable, this partnership with a major publisher validates their technology and could attract more developers to their platform. The game's reception will be a key indicator of whether blockchain integration can enhance the gaming experience or further alienate players.

Decrypt reports that a trader realized substantial profits by investing in Troll, a meme coin on the Solana blockchain. The coin has experienced a 361,500% increase in value since December. This success is part of a broader trend of meme coin creation and trading on Solana, driven by the blockchain's low transaction fees and fast processing speeds. This environment allows for easier trading of volatile assets. However, meme coins are inherently risky due to their reliance on social media hype rather than fundamental value, making them prone to rapid price swings. Solana's rise has been fueled by its technological advantages and a growing ecosystem, with meme coins contributing to network activity.

Decrypt reports that Benchmark has issued a 'Buy' rating for Coinbase (COIN) stock, based on the company's strong performance in the stablecoin market. Coinbase disclosed $910 million in stablecoin revenue for 2024, marking a 31% increase from the previous year. This revenue likely includes transaction fees, custody fees, and potential earnings from staking activities related to stablecoins.

However, investors should be aware of potential risks. Increased regulatory scrutiny of stablecoins, growing competition in the stablecoin market, and the potential introduction of Central Bank Digital Currencies (CBDCs) could impact Coinbase's future performance and stablecoin revenue. These factors could influence the long-term viability of stablecoins as a significant revenue stream for Coinbase.

According to Bitcoin Magazine, BlackRock's Bitcoin ETF, IBIT, experienced a record-breaking $4.2 billion in trading volume on April 23, 2025. This surge in activity coincided with Bitcoin's price reaching $91,739, its highest level in the past month. The increased trading volume of IBIT reflects strong investor interest in gaining exposure to Bitcoin through a regulated ETF.

This development occurs amidst increasing competition among Bitcoin ETFs, including those from Fidelity (FBTC) and Grayscale (GBTC), all approved by the SEC in January 2024. The success of IBIT strengthens BlackRock's position in the cryptocurrency investment space and highlights the growing institutional adoption of Bitcoin.

According to CoinDesk, Bitcoin's market sentiment is currently bullish, with potential price targets reaching $94,000. This is fueled by continued institutional investment and improved regulatory landscapes in major economies, trends that began in the early 2020s. The article highlights a 'Heads I Win, Tails Bears Lose' scenario, indicating a market bias towards price increases, even amidst potential setbacks.

The high Bitcoin price impacts various stakeholders. It may limit accessibility for new retail investors, potentially driving interest in alternative cryptocurrencies. Conversely, it significantly increases mining profitability, potentially leading to infrastructure investment and higher hashrate. For financial institutions, continued price appreciation validates investment strategies and may encourage further capital allocation and the development of sophisticated financial products.