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2025-05-28 02:14:05

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Real-world assets linking up with non-fungible tokens (NFTs) is one of a few key catalysts that could reignite the waning NFT lending sector, which is suffering from a collapse in volumes and user activity, says blockchain analytics platform DappRadar.Volumes in the NFT lending market, which allows NFT holders to take out a loan against their token, have dropped 97% from a peak of around $1 billion in January 2024 to $50 million in May, DappRadar analyst Sara Gherghelas said in a May 27 report.Gherghelas said for NFT lending to “move beyond survival mode,” it needs “new catalysts” to reignite the sector, such as real-world asset NFTs, like tokenized real estate or yield-bearing assets that could unlock more stable, trusted collateral sources.“So far, 2025 has not delivered a compelling reason for NFT lending to bounce back,” she said. “While the infrastructure is still here and the platforms remain active, activity has slowed across the board.” Borrower and leading activity have taken a big hit in the NFT lending sector. Source: DappRadar“For now, the sector seems to be in a holding pattern, waiting either for market recovery or a new use case to reignite interest.”Gherghelas added that other catalysts that could rekindle NFT lending were tools that make it easier for NFT holders to borrow against their tokens, and that protocols should create “smart infrastructure” such as undercollateralized loans, credit scores and artificial intelligence risk matching.The report adds that since January last year, borrower activity has declined by 90% and those willing to lend have shrunk by 78%.The average NFT loan size has also taken a hit from a peak of $22,000 in 2022 to $4,000 in May, a 71% year-over-year drop.Gherghelas said this shift “shows that either users are borrowing against lower-value assets or simply becoming more conservative with leverage.”NFT lending overall trading volume and market activity have dropped off from the all-time highs of past years. Source: DappRadarThe average loan duration is also lower; after hitting an average of roughly 40 days in 2023, it’s been down to 31 days and has held steady throughout 2024 and into 2025.Gherghelas said this could indicate that “loans are being taken more frequently but for shorter periods, perhaps a sign of more tactical liquidity plays.”NFT market downturn also hurts lendingPart of the slowdown in NFT lending is connected to the overall NFT market decline, which has seen volumes drop 61% in the first quarter to $1.5 billion compared to $4.1 billion a year ago.“With collateral value collapsing, the lending activity naturally followed,” Gherghelas said. “There are a few exceptions that managed to hold or regain traction, but they’ve been outliers, not enough to lift the sector.”Related: AI decentralized apps are coming for the Web3 throne: DappRadarThe protocol landscape has also narrowed, and the number of active NFT lending apps is limited, with only eight protocols holding any meaningful share.“The flip-for-liquidity model that worked during bull markets isn’t built for a quieter, more risk-averse environment. But that doesn’t mean NFT lending is finished; it’s simply shifting focus,” Gherghelas said.“Platforms are diversifying, use cases are shifting, and collateral preferences are changing. If the next wave builds on utility, culture, and better design, NFT lending might just find its second wind — one built to last.”Magazine: Bitcoin bears eye $69K, CZ denies WLF ‘fixer’ rumors: Hodler’s Digest, May 18 – 24
https://cointelegraph.com/news/real-world-assets-revitalize-dying-nft-lending-dappradar

2025-05-22 00:36:46

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Australia’s financial regulator will seek the High Court’s permission to appeal a lower court’s ruling favoring fintech firm Block Earner, which found the company’s crypto-linked fixed-yield earning service is not a financial product.The Australian Securities and Investment Commission (ASIC) said on May 21 that it wants to ask the High Court of Australia to clarify what the definition of a financial product is and clarify the circumstances when an interest-earning product and conversion of assets from one form to another are regulated.“The definition of financial product was drafted in a broad and technology-neutral way, and ASIC believes it is in the public interest to clarify this,” the watchdog said.“This clarification is important as it applies to all financial products and services whether they involve crypto-assets or not.”On April 22, Federal Court Justices David O’Callaghan, Wendy Abraham and Catherine Button found that Block Earner’s crypto-linked fixed-yield earning product is not a financial product, a managed investment scheme or a derivative under the Corporations Act.ASIC said the court will consider its application. Special leave is required in an appeal to the High Court, and it’s only granted in cases where it would answer significant legal questions or matters of public interest.A Block Earner spokesperson told Cointelegraph the matter has now escalated to a “broader legal question” around the definition of a financial product, which extends “well beyond Block Earner, and the crypto sector.” “We believe the Full Federal Court’s April ruling was a strong and well-reasoned decision that upheld the integrity of our operations,” the spokesperson said. “We remain confident in the soundness of that judgment and will respond to ASIC’s application through the appropriate legal channels.” Legal saga ongoing since 2022ASIC first launched legal proceedings against Block Earner in November 2022, arguing the company needed a financial services license to offer its yield product which was available from March 17, 2022, until the company shut it down on Nov. 16, 2022.Related: Australia outlines crypto regulation plan, promises action on debankingASIC was arguing Block Earner needed a financial services license to offer its crypto-linked fixed-yield earning product. Source: ASICIn February 2024, an Australian court initially ruled the fintech firm would need a financial services license to operate its crypto yield-bearing products. Another June 2024 ruling in Australia’s Federal Court released Block Earner from any financial penalties because it had “acted honestly” and pursued its legal opinions before launching the products, which ASIC appealed.Block Earner appealed the Federal Court’s decision that it needed a financial services license on July 9, 2024. Magazine: SEC’s U-turn on crypto leaves key questions unanswered
https://cointelegraph.com/news/australian-regulator-asks-high-court-allow-appeal-block-earner

2025-05-20 03:18:22

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The US Securities and Exchange Commission’s sole Democratic Commissioner has said the agency is “playing a game of regulatory Jenga” with its approach to the crypto industry and market regulation under the Trump administration. In May 19 remarks at the SEC Speaks event, Commissioner Caroline Crenshaw cautioned against what she described as a dangerous dismantling of “discrete but interrelated rules” on crypto and the wider market.She likened market stability to a “Jenga tower” that the agency’s rules had “carefully developed over the years,” which could topple if some rules were removed.In addition to a lamentable loss of staff, Crenshaw said the SEC has used staff guidance to effectively reverse rules without proper analysis or public comment, particularly around crypto“Our statements on these crypto-related issues are the equivalent of a wink and nod intended to convey that we do not plan to rigorously apply our laws in certain, specific situations.”She added that the regulator has abandoned enforcement actions, especially in crypto markets, creating what she calls “regulation by non-enforcement.”“I am deeply troubled by the Commission’s abandonment of swaths of our enforcement program,” she said. SEC Commissioner Crenshaw. Source: SECCrenshaw, the SEC’s last remaining Democrat commissioner, said the agency’s “about-face” is problematic for a host of reasons, such as corroding its reputation in court, undermining its credibility, and casting doubt on the state of “longstanding and fundamental case law.”Related: SEC is scaling back its crypto enforcement unit: ReportCrenshaw, who had also opposed the SEC’s settlement with Ripple, said in her latest remarks that the 2022 FTX collapse was an example of what a “large-scale crypto crisis” can look like. “Those risks have not gone away, but the calls for serious regulatory scrutiny are a lot quieter these days,” she said.“Failing to appreciate and address these risks and complexities destines us to repeat hard lessons with high stakes as crypto becomes increasingly entangled with traditional finance.”In comparison, remarks from the SEC’s Republican commissioners welcomed the agency’s embrace of the crypto sector. Crypto was “languishing in SEC limbo”SEC chair Paul Atkins said at the SEC Speaks event that “crypto markets have been languishing in SEC limbo for years,” adding that the agency should not be in the business of stifling innovation of crypto companies.Commissioner Hester Peirce, who heads the SEC’s Crypto Task Force, said in remarks that the agency’s approach under the Biden administration has “evaded sound regulatory practice and must be corrected.”She also claimed that crypto did not come under the purview of securities laws because “most currently existing crypto assets in the market” are not securities. “Even if a broad swath of the crypto assets trading in secondary markets today were initially offered and sold subject to an investment contract, they clearly are no longer bought and sold in securities transactions. Many of these crypto assets are functional.”Commissioner Mark Uyeda echoed the sentiment of his peers, stating that the SEC “should undertake efforts to provide assurances that regulation by enforcement will not be a tool used for future policymaking.”Magazine: Arthur Hayes $1M Bitcoin tip, altcoins ‘powerful rally’ looms: Hodler’s Digest
https://cointelegraph.com/news/sec-crenshaw-agency-playing-regulatory-jenga-with-crypto

2025-05-20 03:10:07

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The US Securities and Exchange Commission’s sole Democratic Commissioner has said the agency is “playing a game of regulatory Jenga” with its approach to the crypto industry and market regulation under the Trump administration. In May 19 remarks at the SEC Speaks event, Commissioner Caroline Crenshaw cautioned against what she described as a dangerous dismantling of “discrete but interrelated rules” on crypto and the wider market.She likened market stability to a “Jenga tower” that the agency’s rules had “carefully developed over the years,” which could topple if some rules were removed.In addition to a lamentable loss of staff, Crenshaw said the SEC has used staff guidance to effectively reverse rules without proper analysis or public comment, particularly around crypto“Our statements on these crypto-related issues are the equivalent of a wink and nod intended to convey that we do not plan to rigorously apply our laws in certain, specific situations.”She added that the regulator has abandoned enforcement actions, especially in crypto markets, creating what she calls “regulation by non-enforcement.”“I am deeply troubled by the Commission’s abandonment of swaths of our enforcement program,” she said. SEC Commissioner Crenshaw. Source: SECCrenshaw, the SEC’s last remaining Democrat commissioner, said the agency’s “about-face” is problematic for a host of reasons, such as corroding its reputation in court, undermining its credibility, and casting doubt on the state of “longstanding and fundamental case law.”Related: SEC is scaling back its crypto enforcement unit: ReportCrenshaw, who had also opposed the SEC’s settlement with Ripple, said in her latest remarks that the 2022 FTX collapse was an example of what a “large-scale crypto crisis” can look like. “Those risks have not gone away, but the calls for serious regulatory scrutiny are a lot quieter these days,” she said.“Failing to appreciate and address these risks and complexities destines us to repeat hard lessons with high stakes as crypto becomes increasingly entangled with traditional finance.”In comparison, remarks from the SEC’s Republican commissioners welcomed the agency’s embrace of the crypto sector. Crypto was “languishing in SEC limbo”SEC chair Paul Atkins said at the SEC Speaks event that “crypto markets have been languishing in SEC limbo for years,” adding that the agency should not be in the business of stifling innovation of crypto companies.Commissioner Hester Peirce, who heads the SEC’s Crypto Task Force, said in remarks that the agency’s approach under the Biden administration has “evaded sound regulatory practice and must be corrected.”She also claimed that crypto did not come under the purview of securities laws because “most currently existing crypto assets in the market” are not securities. “Even if a broad swath of the crypto assets trading in secondary markets today were initially offered and sold subject to an investment contract, they clearly are no longer bought and sold in securities transactions. Many of these crypto assets are functional.”Commissioner Mark Uyeda echoed the sentiment of his peers, stating that the SEC “should undertake efforts to provide assurances that regulation by enforcement will not be a tool used for future policymaking.”Magazine: Arthur Hayes $1M Bitcoin tip, altcoins ‘powerful rally’ looms: Hodler’s Digest
https://cointelegraph.com/news/sec-crenshaw-agency-playing-regulatory-jenga-with-crypto

2025-05-19 07:56:04

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Ethereum co-founder Vitalik Buterin unveiled a proposal to preserve trustless, censorship-resistant access to Ethereum, even as the network scales. On May 19, Buterin shared a post outlining how to make Ethereum's layer-1 scaling “more friendly” to users running local nodes for personal use. The Ethereum co-founder highlighted the importance of independent users running nodes, saying that a market dominated by a few Remote Procedure Call (RPC) providers risks censorship. RPC providers let wallets, users and apps interact with the blockchain without running their own nodes. Crypto wallets are usually connected to an RPC provider behind the scenes. Buterin believes there are risks to this setup. “A market structure dominated by a few RPC providers is one that will face strong pressure to deplatform or censor users. Many RPC providers already exclude entire countries,” Buterin wrote. Source: Vitalik ButerinVitalik Buterin proposes partially stateless nodes In addition to censorship, Buterin argued that reasons like expensive fully-trustless cryptographic solutions and metadata privacy show that there’s value in ensuring greater ease for those running a personal node. In the proposal, Buterin's solution relies on a novel type of node called “partially stateless nodes.” These nodes are designed to help users maintain privacy-preserving access to blockchain data without the heavy resource demands of running a full node. As Ethereum scales and the gas limit increases, running a full node requires more storage and bandwidth. Buterin said partially stateless nodes address the issue by allowing users to verify the blockchain and serve local data, but only store a subset of the Ethereum state, based on the user’s needs.Vitalik Buterin’s graphic of partially stateless nodes. Source: Vitalik ButerinRelated: Ethereum Foundation unveils security initiative to supplant legacy systemsA new node type to validate blocks “statelessly”The nodes would operate by validating blocks statelessly. This means they don't require the storage of the full Merkle proofs or the entire blockchain history. They can selectively keep certain parts of the state up to date. This means that users could configure their nodes only to save data related to their accounts, the decentralized finance (DeFi) applications, and their commonly used tokens like stablecoins and Ether (ETH). The rest of the data will be left out, and queries beyond the stored subset will fail or be routed through an RPC solution. Magazine: Danger signs for Bitcoin as retail abandons it to institutions: Sky Wee
https://cointelegraph.com/news/vitalik-buterin-partially-stateless-nodes-ethereum-scaling-privacy

2025-05-18 08:16:04

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Retired artist Ed Suman lost over $2 million in cryptocurrency earlier this year after falling victim to a scam involving someone posing as a Coinbase support representative.Suman, 67, spent nearly two decades as a fabricator in the art world, helping build high-profile works such as Jeff Koons’ Balloon Dog sculptures, according to a May 17 report by Bloomberg.After retiring, he turned to cryptocurrency investing, eventually accumulating 17.5 Bitcoin (BTC) and 225 Ether (ETH) — a portfolio that comprised most of his retirement savings.He stored the funds in a Trezor Model One, a hardware wallet commonly used by crypto holders to avoid the risks of exchange hacks. But in March, Suman received a text message appearing to be from Coinbase, warning him of unauthorized account access.After responding, he got a phone call from a man identifying himself as a Coinbase security staffer named Brett Miller. The caller appeared knowledgeable, correctly stating that Suman’s funds were stored in a hardware wallet.He then convinced Suman that his wallet could still be vulnerable and walked him through a “security procedure” that involved entering his seed phrase into a website mimicking Coinbase’s interface.Nine days later, a second caller claiming to be from Coinbase repeated the process. By the end of that call, all of Suman’s crypto holdings were gone.Crypto scammers impersonate Coinbase support. Source: NanoBaiter Related: Bitcoin breaks out while Coinbase breaks down: Finance RedefinedCoinbase suffers major data breachThe scam followed a data breach at Coinbase disclosed this week, in which attackers bribed customer support staff in India to access sensitive user information.Stolen data included customer names, account balances, and transaction histories. Coinbase confirmed the breach impacted roughly 1% of its monthly transacting users.Among those affected was venture capitalist Roelof Botha, managing partner at Sequoia Capital. There is no indication that his funds were accessed, and Botha declined to comment.Coinbase’s chief security officer, Philip Martin, reportedly said the contracted customer service agents at the center of the controversy were based in India and had been fired following the breach.The exchange has also said it plans to pay between $180 million and $400 million in remediation and reimbursement to affected users.Magazine: Arthur Hayes $1M Bitcoin tip, altcoins’ powerful rally’ looms: Hodler’s Digest, May 11 – 17
https://cointelegraph.com/news/retired-artist-loses-2m-in-crypto-to-coinbase-impersonator

2025-05-18 05:03:43

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United Kingdom crypto companies will need to collect and report data from every customer trade and transfer beginning Jan. 1, 2026 as part of a broader effort to improve crypto tax reporting, the UK government said.Everything from the user’s full name, home address and tax identification number will need to be collected and reported for every transaction, including the cryptocurrency used and the amount moved, the UK Revenue and Customs department said in a May 14 statement.Details of companies, trusts and charities transacting on crypto platforms will also need to be reported.Failure to comply or inaccurate reporting may incur penalties of up to 300 British pounds ($398.4) per user. The UK Revenue and Customs department said it would inform companies on how to comply with the incoming measures in due course.However, UK authorities are encouraging crypto firms to start collecting data now to ensure compliance readiness.The new rule is part of the UK’s integration of the Organisation for Economic Development’s Cryptoasset Reporting Framework to improve transparency in crypto tax reporting.The changes reflect the UK government’s aim to establish a more robust regulatory framework that supports industry growth while ensuring consumer protection.Related: Bitwise lists four crypto ETPs on London Stock ExchangeUK Chancellor Rachel Reeves also introduced a draft bill in late April to bring crypto exchanges, custodians and broker-dealers within its regulatory reach to combat scams and fraud.“Today’s announcement sends a clear signal: Britain is open for business — but closed to fraud, abuse, and instability,” Reeves said at the time.A study from the UK’s Financial Conduct Authority last November found that 12% of UK adults owned crypto in 2024 — a significant increase from the 4% reported in 2021.UK’s approach contrasts with EU’s MiCAThe UK’s move to integrate the crypto rules into its existing financial framework contrasts with the European Union’s approach, which introduced the new Markets in Crypto-Assets Regulation framework last year.According to the MiCA Crypto Alliance, one key difference is that the UK will allow foreign stablecoin issuers to operate in the UK without needing to register.There will also be no cap on stablecoin volumes, unlike the EU’s approach, which may impose controls on stablecoin issuers to manage systemic risks.Source: MiCA Crypto AllianceMagazine: Crypto wanted to overthrow banks, now it’s becoming them in stablecoin fight
https://cointelegraph.com/news/uk-to-mandate-crypto-reporting-on-all-customer-transactions-in-2026

2025-05-18 05:02:03

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United Kingdom crypto companies will need to collect and report data from every customer trade and transfer beginning Jan. 1, 2026 as part of a broader effort to improve crypto tax reporting, the UK government said.Everything from the user’s full name, home address and tax identification number will need to be collected and reported for every transaction, including the cryptocurrency used and the amount moved, the UK Revenue and Customs department said in a May 14 statement.The legal business name and addresses of companies, trusts and charities will also need to be reported.Failure to comply or inaccurate reporting may incur penalties of up to 300 British pounds ($398.4) per user. The UK Revenue and Customs department said it would inform companies on how to comply with the incoming measures in due course.However, UK authorities are encouraging crypto firms to start collecting data now to ensure compliance readiness.The new rule is part of the UK’s integration of the Organisation for Economic Development’s Cryptoasset Reporting Framework to improve transparency in crypto tax reporting.The changes reflect the UK government’s aim to establish a more robust regulatory framework that supports industry growth while ensuring consumer protection.Related: Bitwise lists four crypto ETPs on London Stock ExchangeUK Chancellor Rachel Reeves also introduced a draft bill in late April to bring crypto exchanges, custodians and broker-dealers within its regulatory reach to combat scams and fraud.“Today’s announcement sends a clear signal: Britain is open for business — but closed to fraud, abuse, and instability,” Reeves said at the time.A study from the UK’s Financial Conduct Authority last November found that 12% of UK adults owned crypto in 2024 — a significant increase from the 4% reported in 2021.UK’s approach contrasts with EU’s MiCAThe UK’s move to integrate the crypto rules into its existing financial framework contrasts with the European Union’s approach, which introduced the new Markets in Crypto-Assets Regulation framework last year.According to the MiCA Crypto Alliance, one key difference is that the UK will allow foreign stablecoin issuers to operate in the UK without needing to register.There will also be no cap on stablecoin volumes, unlike the EU’s approach, which may impose controls on stablecoin issuers to manage systemic risks.Source: MiCA Crypto AllianceMagazine: Crypto wanted to overthrow banks, now it’s becoming them in stablecoin fight
https://cointelegraph.com/news/uk-to-mandate-crypto-reporting-on-all-customer-transactions-in-2026

2025-05-12 22:16:04

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Coinbase Global (COIN) will join the Standard and Poor's 500 (S&P500) index fund on May 19, financial information services platform S&P Global said in a recent statement.The crypto exchange will replace Discover Financial Services (DFS), which was recently acquired by Capital One Financial Corp (COF), S&P Global said on May 12.S&P Global’s confirmation of Coinbase Global being inserted into the S&P 500. S&P GlobalThe S&P 500 is a stock market index that tracks the performance of 500 of the largest, publicly traded companies in the US, representing a broad measure of the overall US stock market.Coinbase's inclusion in the S&P 500 should increase demand for its stock because index funds and exchange-traded funds that track the S&P 500 must buy COIN shares to mirror the index.COIN shares immediately rose 8.8% to $225.4 in after-hours trading following the announcement, Google Finance data shows.Related: $45 million stolen from Coinbase users in the last week — ZachXBTThe crypto exchange joins Tesla and Block Inc. as the other large corporate Bitcoin holders currently in the index fund, which tracks an aggregate market cap of more than $49.8 trillion as of March 31, 2025.Source: Michael SaylorMagazine: Crypto wanted to overthrow banks, now it’s becoming them in stablecoin fightThis is a developing story, and further information will be added as it becomes available.
https://cointelegraph.com/news/coinbase-listed-s-and-p-500-may-19

2025-05-05 22:14:03

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Acting US Attorney for the Eastern District of New York (EDNY) John Durham has departed as President Donald Trump’s pick takes control of the office.In a May 5 notice, the US Attorney’s Office for EDNY said Joseph Nocella will serve as interim US Attorney for the region for 120 days or until a Senate-confirmed nominee assumes the role. Nocella’s appointment came as jury selection began in the criminal trial of Braden John Karony, the former CEO of crypto firm SafeMoon.It’s unclear how the advancement of Nocella, appointed by US President Donald Trump this month, could affect prosecutors’ case against Karony, who faces charges of securities fraud conspiracy, wire fraud conspiracy, and money laundering conspiracy. Nocella said he intended to help prosecute “narcotics-traffickers, gang members, terrorists, human-traffickers and other criminals.”The former SafeMoon CEO asked the court in February to consider pushing back the start of the trial based on “significant changes” Trump had proposed affecting US securities laws, potentially impacting his criminal case.Related: What do crypto users want to happen to Alex Mashinsky?Though not as well known for criminal cases involving high-profile figures in the crypto industry, the Eastern District of New York has been responsible for overseeing cases against individuals tied to digital assets, including a Securities and Exchange Commission (SEC) complaint against Hex founder Richard Heart and fraudsters. Its neighboring district, the Southern District of New York, will oversee the sentencing of former Celsius CEO Alex Mashinsky on May 8. Jay Clayton, a Wall Street insider and the former chair of the SEC, became the interim US Attorney for the district in April.Criminal trial to start on May 6SafeMoon’s Karony, Kyle Nagy, and Thomas Smith were charged in November 2023 for “diverted and misappropriated millions of dollars’ worth” of the platform’s SFM token between 2021 and 2022. Karony has pleaded not guilty to all charges and has been free on a $3 million bond since February 2024.In a May 5 filing, Karony agreed to have jury selection for his trial proceed under US Magistrate Judge James Cho. District Judge Eric Komitee is expected to oversee the trial starting on May 6.Magazine: Crypto wanted to overthrow banks, now it’s becoming them in stablecoin fight
https://cointelegraph.com/news/edny-interim-us-attorney-safemoon-ceo-trial

2025-05-05 19:02:03

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Asset manager VanEck has asked US regulators for permission to list an exchange-traded fund (ETF) holding BNB, the native token of Binance’s BNB Chain, regulatory filings show. The ETF is designed to accumulate spot BNB (BNB) tokens and “may, from time to time, stake a portion of the [fund’s] assets through one or more trusted staking providers,” according to the ETF’s S-1 prospectus. The filing marks the first time an asset manager has filed for a BNB ETF in the United States.The BNB token has a market capitalization of roughly $84 billion, according to data from CoinMarketCap. As of May 5, BNB stakers earn a yield of approximately 2.5%, according to data from Stakingrewards.com. Binance’s BNB Chain is among the most popular smart contract networks, with a total value locked (TVL) of nearly $6 billion, according to data from DefiLlama. BNB Chain is among the most popular blockchain networks. Source: DeFILlamaRelated: Binance co-founder CZ proposes Bitcoin, BNB for Kyrgyzstan reservesBitcoin's “spillover” effect?The filing comes days after Binance co-founder Changpeng “CZ” Zhao reportedly said he expects the popularity of Bitcoin (BTC) ETFs to eventually “spill over” into altcoins.“This cycle so far has been the ETFs. And it’s almost all Bitcoin. Ether hasn’t had as much success but Bitcoin success will spill over to the others eventually,” CZ reportedly said during the Token2049 conference in Dubai. Spot Bitcoin ETFs attracted net inflows of more than $40 billion since launching in January of 2024, according to data from Farside Investors.Cumulative inflows into spot BTC ETFs. Source: Farside InvestorsVanEck’s filing is the newest in a flurry of filings seeking to list ETFs holding altcoins. The US Securities and Exchange Commission (SEC) has acknowledged dozens of cryptocurrency ETF proposals since US President Donald Trump took office on Jan. 20. They include plans for ETFs holding native layer-1 tokens such as Solana (SOL) as well as memecoins such as Dogecoin (DOGE).VanEck has filed to list other cryptocurrency ETFs over the past few months, including funds holding Solana and Avalanche (AVAX).Magazine: ZK-proofs are bringing smart contracts to Bitcoin — BitcoinOS and Starknet
https://cointelegraph.com/news/vaneck-files-bnb-etf-first-in-us

2025-05-02 22:33:03

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Key takeaways:BTC hit $97,900 due to soaring institutional investor demand, but futures pricing shows traders aren't confident in a sustained rally.Macroeconomic risks and global trade tensions cap bullish sentiment despite $3.6 billion in spot BTC ETF inflows.BTC options lean bullish, suggesting big players expect upside, but their caution keeps leverage use low.Bitcoin (BTC) broke out of a tight trading range between $93,000 and $95,600 on May 1, following six days of limited movement. Despite reaching its highest price in ten weeks at $97,930, sentiment remains neutral according to BTC derivatives indicators. This price action has occurred alongside significant net inflows into US spot exchange-traded Bitcoin funds (ETFs).Some of the disappointment among traders can be attributed to the ongoing global tariff dispute, which is beginning to affect macroeconomic data. Bitcoin traders are concerned that, despite growing interest from institutional investors, fears of an economic recession could limit price performance. This concern reduces the likelihood of BTC reaching $110,000 or higher in 2025.Bitcoin 2-month futures annualized premium. Source: Laevitas.chThe annualized premium for Bitcoin’s two-month futures has remained between 6% and 7% over the past week, staying within the neutral range of 5% to 10%. Compared to January, when Bitcoin was trading near $95,000 and the futures premium was above 10%, traders’ sentiment has weakened. This data suggests there is less optimism, or at least less conviction, in further price gains toward $100,000 and above.Gold’s performance outshone Bitcoin’s modest gainsSome market participants point to gold’s 20% rally, from $2,680 to $3,220, as a source of concern. Although Bitcoin recently surpassed silver’s $1.8 trillion market capitalization to become the seventh largest global tradable asset, gold’s surge to a massive $21.7 trillion valuation has overshadowed this achievement. Investors worry that Bitcoin’s strong correlation with the stock market has diminished the appeal of its “digital gold” narrative.Bitcoin spot US-listed ETFs daily net flows, USD. Source: CoinGlassThere is also a possibility that the $3.6 billion in net inflows to US spot ETFs over the past two weeks are being driven by delta-neutral strategies. In this scenario, the flows reflect Bitcoin holders moving to listed products or using derivatives for hedging. If so, the direct impact on price would be limited, which is consistent with Bitcoin’s modest 5% gain during this period.To determine whether professional traders are comfortable with Bitcoin around $97,500, it is helpful to examine the BTC options market.Bitcoin 1-month options 25% delta skew (put-call) at Deribit. Source: Laevitas.chThe BTC options 25% delta skew metric is currently near its lowest level since Feb. 15, indicating that whales and market makers are assigning higher odds to further upside from here. This marks a sharp reversal from three weeks ago, when put (sell) options traded at a premium.Related: Bitcoin unsure as recession looms, US-China tariff talks kick offBitcoin derivatives’ resilience favors further BTC price gainsOverall, Bitcoin derivatives indicate moderate optimism. Traders generally expect further price gains, but bulls are refraining from using leverage. Some might argue that this creates the ideal conditions for a surprise rally, especially since the retest of $74,500 on April 9 did not significantly affect BTC derivatives.The most important factor influencing Bitcoin’s performance remains the commercial relationship between the US and China. As long as the trade war continues, Bitcoin is likely to continue tracking the S&P 500 movements. While this environment may prevent Bitcoin from reaching a new all-time high in the near term, BTC derivatives are currently leaning slightly in favor of the bulls.This article is for general information purposes and is not intended to be and should not be taken as legal or investment advice. The views, thoughts, and opinions expressed here are the author’s alone and do not necessarily reflect or represent the views and opinions of Cointelegraph.
https://cointelegraph.com/news/stars-align-for-bitcoin-rally-to-100-k-but-futures-traders-exercise-caution-here-s-why

2025-05-02 04:22:03

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The US Securities and Exchange Commission has filed to drop another of its crypto lawsuits, this time its unregistered securities sales case against crypto influencer and YouTuber Ian Balina. The SEC said in a May 1 joint stipulation with Balina to an Austin federal court that it “believes the dismissal of this case is appropriate,” citing the work of the agency’s Crypto Task Force.The agency didn’t give a reason for wanting to dismiss its case, but said its decision “does not necessarily reflect the Commission’s position on any other case.”Balina told Cointelegraph in March that the SEC had informed him it would recommend the court dismiss the case and claimed the agency’s actions were based on a shift in the agency’s priorities.“Obviously, the new administration is pro-crypto,” Balina said. The SEC has seen a change in leadership under US President Donald Trump, who appointed former crypto lobbyist Paul Atkins to chair the agency.The joint stipulation argued a dismissal would also conserve the court’s resources “without costs or fees to either party.”Balina is the CEO of Token Metrics, a crypto influencer with 140,000 followers on X, and a YouTuber who the SEC accused of improperly promoting crypto projects, particularly during the initial coin offering (ICO) boom circa 2017.The SEC sued Balina in 2022, alleging that he conducted an unregistered securities offering of Sparkster (SPRK) tokens when he formed an investing pool on Telegram in 2018.The SEC claimed that US-based investors participated in Balina’s investing pool, using Ether (ETH), which was validated by a network of nodes “which are clustered more densely in the United States than in any other country.”Related: SEC drops investigation into PayPal’s stablecoinThe court sided with the SEC and, in May 2024, ruled that SPRK was an investment contract under US securities laws, where investors pooled money into a common enterprise expecting profits due to the efforts of others.Edit the caption here or remove the textShift in crypto policyThe move is the latest in a long list of crypto-related court actions that the SEC has quashed under the Trump administration’s favorable stance toward the industry. Over the past month, it has dropped several cases and abandoned multiple investigations against crypto firms, including against Coinbase, Ripple, Kraken, Opensea, and PayPal’s stablecoin. Magazine: Japanese porn star’s coin red flags, Alibaba-linked L2 runs at 100K TPS: Asia Express
https://cointelegraph.com/news/sec-to-drop-crypto-promo-case-against-youtuber-ian-balina

2025-04-29 20:54:03

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The US Securities and Exchange Commission (SEC) has postponed deciding on whether to greenlight two proposed cryptocurrency exchange-traded funds (ETFs) holding Dogecoin and XRP, filings show. The US regulator has delayed its deadline for ruling on the proposed ETF listings until June, according to two filings reviewed by Cointelegraph. The filings were responses to March requests from US exchanges NYSE Arca and Cboe BZX Exchange to list Bitwise’s Dogecoin (DOGE) ETF and Franklin Templeton’s XRP (XRP) ETF, respectively. They came on the same day that Nasdaq, another US exchange, asked for permission to list a 21Shares Dogecoin ETF. Dogecoin is the world’s most heavily traded memecoin, with a market capitalization of around $26 billion as of April 29, according to data from CoinGecko. XRP is the native token of the XRP Ledger blockchain network. It has a market capitalization of approximately $133 billion, CoinGecko data shows. The SEC has delayed its deadline for reviewing Franklin's XRP Fund. Source: SECRelated: Institutions break up with Ethereum but keep ETH on the hookDeluge of filingsIn 2025, the SEC has fielded requests to authorize dozens of altcoin ETFs for US listing. As of April 21, approximately 70 crypto ETFs were awaiting the SEC’s review. Asset managers are proposing funds holding “[e]verything from XRP, Litecoin and Solana to Penguins, Doge and 2x Melania and everything in between,” Bloomberg analyst Eric Balchunas said in an April 21 post on the X platform. The deluge of proposals comes as US President Donald Trump pushes the SEC to take a more accommodating stance toward cryptocurrencies. However, analysts caution investor demand for altcoin ETFs may be tepid in comparison to funds holding core cryptocurrencies such as Bitcoin (BTC) and Ether (ETH). “Having your coin get ETF-ized is like being in a band and getting your songs added to all the music streaming services,” Balchunas said. “Doesn’t guarantee listens but it puts your music where the vast majority of the listeners are.”Although US exchanges are embracing crypto ETFs, they are also urging the SEC to take a tough regulatory posture toward digital assets. In an April 25 comment letter, Nasdaq encouraged the SEC to hold digital assets to the same compliance standards as securities if they constitute “stocks by any other name.”Magazine: Financial nihilism in crypto is over — It’s time to dream big again
https://cointelegraph.com/news/sec-punts-decision-on-bitwise-xrp-doge-etfs

2025-04-28 08:45:04

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Cryptocurrency services platform Nexo announced that it is reentering the US market after facing previous regulatory challenges.According to an April 28 announcement, Nexo’s reentry event featured Donald Trump Jr., who said that he thinks “crypto is the future of finance,” adding:“We see the opportunity for the financial sector and want to ensure we bring that back to the US.”Trump Jr. also emphasized the need for a regulatory environment that supports the cryptocurrency industry. He said that “the key to everything crypto is going to be the regulatory framework.”Source: NexoRelated: Coinbase presses to axe rule banning SEC staff from holding cryptoNexo is back to fight where it lostNexo left the US at the end of 2022, citing a lack of regulatory clarity as the reason behind the decision. At the beginning of 2023, the firm agreed to pay a $45 million settlement to the US Securities and Exchange Commission (SEC) over its failure to register the offer and sale of securities of its interest-earning product.A month after settling with US regulators, Nexo also decided to shut down its interest-earning product to US-based customers. The product allowed users to earn daily compounding yields on certain cryptocurrencies by loaning them to Nexo.In late 2022, the California Department of Financial Protection and Innovation also filed a desist and refrain order against the same interest-earning product managed by Nexo. The regulator claimed that the product was an unqualified security, meaning a security that the government has not approved for sale in the form of an investment contract.Related: US crypto rules like 'floor is lava' game without lights — Hester PeirceUS SEC dances to a different tune nowThe US SEC, once viewed as the crypto industry’s primary regulatory obstacle, recently appointed Paul Atkins as chair.The change was positively commented on by crypto entrepreneurs, with Michael Saylor, the CEO of top corporate Bitcoin holder Strategy (formerly MicroStrategy), saying:“SEC Chairman Paul Atkins will be good for Bitcoin.”James Gernetzke, chief financial officer of Bitcoin and crypto wallet Exodus, said that “the promise of being able to engage with a regulator on a reasonable basis is going to be very helpful.”Nexo declined to comment further on its return to the US market.Magazine: Ripple says SEC lawsuit ‘over,’ Trump at DAS, and more: Hodler’s Digest, March 16 – 22
https://cointelegraph.com/news/nexo-is-back-in-the-united-states-trump-jr-comments-on-the-event

2025-04-27 08:08:02

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Comedian and actor TJ Miller says it only takes a little over two full days to get the average person up to speed on Bitcoin. However, when asked why more celebrities aren’t Bitcoiners, he says most people simply refuse to ever sit down and study again.“It is really hard to get people to study after they graduate, from any level,” Miller told Natalie Brunell on the April 25 episode of Coin Stories. Miller claimed it takes “about 50 hours of study” to understand Bitcoin (BTC).Hollywood rewards those who “do not think differently”“So to say to somebody it is going to take 50 hours for you to understand this, they are like, ah, I don’t want to,” he said. “They can’t even watch a Netflix series; they can’t even watch White Lotus because it takes seven hours,” he said.Comedian and actor TJ Miller spoke to Bitcoiner Natalie Brunell on the Coin Stories podcast. Source: Natalie BrunellMiller said it takes “such a paradigm shift” to embrace Bitcoin, not just in money or the internet, but in life — and that’s also why you don’t see more Hollywood celebrities becoming Bitcoin maxis:“Hollywood rewards people that do not think differently.”During a Bitcoin lunch hosted by crypto entrepreneur Anthony Pompliano, Miller introduced himself that, to his knowledge, he is “the only celebrity that is a Bitcoiner.”“I can’t really think of anyone else,” Miller said. While there aren't many celebrities known to be publicly active in the Bitcoin community, many have launched their own memecoins in recent years, including Iggy Azalea, Caitlyn Jenner, and Hailey Welch aka “Hawk Tuah.”However, Miller said he has been trying to educate people on Bitcoin for quite some time. He said when Bitcoin was trading between $8,000 and $12,000, he was telling friends to “just put $1,000 into Bitcoin.”Miller is confident that, at some point in the future, there will be a Hollywood movie about the Bitcoin revolution.Related: Bitcoin ETFs on $3B ‘bender,’ log first full week of inflows in 5 weeks“But it’ll be interesting because it didn’t happen all at once,” he said. “It didn’t happen in three years, and it hasn’t happened in ten years, so it will be interesting to see how they can connect the dots,” he added.Cointelegraph’s Gareth Jenkinson recently sat down with TJ Miller, where it became evident that his enthusiasm for Bitcoin isn’t just surface-level. He wants to use his platform to educate and inspire others to take it seriously.“You can tell that I’m passionate about it. And so that’s what I’d like to do is sort of be able… to be somebody that helps bring cultural awareness, spread awareness and just a trusting name and face in the Bitcoin community that hopefully will bring more people to it,” Miller said.Magazine: Bitcoin $100K hopes on ice, SBF’s mysterious prison move: Hodler’s Digest, April 20 – 26
https://cointelegraph.com/news/bitcoiner-tj-miller-why-more-hollywood-celebrities-not-bitcoiners

2025-04-26 10:52:04

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What are reciprocal tariffs? Reciprocal tariffs might sound like textbook trade jargon, but the idea is pretty straightforward: If one country slaps tariffs on your goods, you hit back with the same. Think of it as a tit-for-tat strategy in global trade — a way for governments to say, “If you’re charging our exporters 20%, we’re doing the same to yours.”The roots of this concept go back to the 1930s, when the US passed the Reciprocal Trade Agreements Act. The goal back then was to break down trade barriers through mutual deals, not trade wars. But fast forward to today, and the term is making a comeback — this time with a bit more edge.For example, in early 2025, in an effort to address what it perceived as unfair trade practices and a significant trade deficit, the US government, under President Donald Trump, imposed a series of escalating tariffs on Chinese imports. These tariffs began with a 10% baseline and, through successive increases, reached a staggering 145% on a wide range of Chinese goods.China responded in kind, implementing its own set of reciprocal tariffs. Initially, Beijing imposed a 34% tariff on all US imports, which was later increased to 84% and eventually to 125%, targeting various American products, including agricultural goods and machinery.So, what does this have to do with crypto? You’ll get there — but first, let’s dig into how these tariffs actually work. How do reciprocal tariffs work? While the US has recently adopted a formula based on trade imbalances to determine its tariff rates, other countries, like China, often respond with their own set of tariffs, which may not follow the same calculation method.How the US calculates its tariffsIn 2025, the US implemented a tariff strategy that calculates rates based on the trade deficit with a particular country. The formula used is:Tariff rate (%) = (US trade deficit with country / US imports from country) × 100 / 2Example:US imports from China: $438.9 billionUS exports to China: $147 billionTrade deficit: $291.9 billionDeficit ratio: ($291.9 billion ÷ $438.9 billion) × 100 ≈ 66.5%Tariff rate: 66.5% ÷ 2 ≈ 33.25%This approach led to the US imposing a 34% tariff on Chinese imports in April 2025. Also, these new tariffs don’t replace old ones — they’re added on top. So, if a product already had a 20% tariff and now gets hit with a 34% reciprocal tariff, importers are suddenly paying 54%. That kind of jump can make foreign goods a lot more expensive, fast.How China respondsWhen the US imposes tariffs, China often retaliates by targeting sectors that are politically and economically significant to the United States, particularly those that could influence key voter bases.Targeted sectors:Agriculture: China has frequently targeted US agricultural products, such as soybeans, pork and beef. For instance, in 2018, China imposed a 25% tariff on US soybeans, significantly impacting farmers in states like Iowa, where soybean farming is a major industry.Aerospace: In 2025, China suspended imports of Boeing aircraft and halted purchases of aircraft parts from US companies, affecting the US aerospace sector.Phased implementationChina often implements tariffs in phases, allowing for strategic adjustments and negotiations:In early 2025, following US tariff increases, China initially imposed a 34% tariff on all US goods. This was later increased to 84% and eventually to 125% in response to escalating US tariffs.China also imposed additional tariffs of 10%-15% on various US agricultural products, including corn, soybeans and wheat, as part of its retaliatory measures.While the US uses a specific formula to calculate its tariffs, China’s approach is more about strategic retaliation, aiming to create economic and political pressure rather than directly matching tariff rates.Did you know? Policymakers sometimes choose a slightly higher number to send a stronger political message — especially if they want to appear tough on trade or take a hard line against a specific country. A flat “34%” sounds more decisive and deliberate than “33.25%.” Economic implications of reciprocal tariffs Reciprocal tariffs ripple through the global economy in very real ways. When the US and China start trading blows with import taxes, everyone else feels the aftershocks, too.Global trade slows downIn early 2025, the World Trade Organization had some stark news: Global trade, which was supposed to grow by around 3%, is now barely moving at all — closer to 0.2%. The WTO pointed directly to the US’s aggressive tariff strategy and the domino effect it’s having on other economies. As countries respond with their own barriers, goods just... stop moving. Fewer exports, fewer imports and a whole lot of uncertainty.Developing countries get squeezedSmaller economies — like Cambodia, Laos and others that rely on exporting cheap goods to big markets like the US — are getting hit especially hard. When tariffs go up, American buyers pull back. That means fewer factory orders, lost jobs and shrinking income in places that can’t easily absorb the shock.Prices go up at homeMeanwhile, consumers in the US are starting to notice the pinch, too. Tariffs on Chinese goods have made everything from electronics to basic household items more expensive. Even American companies that depend on imported parts are paying more — and passing those costs down the line. Inflation is already high, and this just adds fuel to the fire.Did you know? The International Monetary Fund projected that the trade war could reduce global GDP growth from 3.3% in 2024 to 2.8% in 2025. Reciprocal tariffs’ impact on crypto When governments start slapping tariffs on each other, it sends a signal that things are unstable — and financial markets hate uncertainty. Stocks, bonds and, yes, crypto all react when global trade flows get disrupted.Market volatilityWhen the US announced a 50% tariff on Chinese imports in early April 2025, the crypto markets reacted swiftly. Bitcoin’s (BTC) price dropped to $74,500, and Ether (ETH) saw a decline of over 20%. This sharp downturn highlighted how sensitive cryptocurrencies are to macroeconomic shifts and investor sentiment.However, the situation began to stabilize after President Trump paused most tariffs for 90 days. By April 22, Bitcoin had rebounded above $92,000, reflecting the crypto market’s responsiveness to policy changes.Mining operationsUS Bitcoin miners are facing increased operational costs due to tariffs on imported mining equipment. With tariffs as high as 36% on essential hardware from countries such as China and Taiwan, miners are now grappling with higher capital expenditures.This is especially hard on smaller operations. Larger firms might be able to absorb the extra costs or renegotiate supplier deals — but smaller or mid-sized miners? They’re the ones getting squeezed. As margins shrink, some may be forced to shut down or relocate to tariff-free jurisdictions.Did you know? US Bitcoin miners faced a 22%-36% increase in equipment costs in early 2025 due to tariffs on Chinese-made mining hardware, leading some to consider relocating operations overseas.Investment trendsEconomic uncertainty often drives investors to look for safe havens — and crypto, increasingly, fits that bill. When traditional markets become volatile due to things like global tariff escalations, many investors turn to Bitcoin and other digital assets as a hedge against inflation, currency devaluation or geopolitical risk.There’s also been a noticeable uptick in institutional interest. With governments engaging in trade battles and inflating the costs of doing business across borders, crypto is starting to look like a more stable long-term play. In Q1 2025, for example, a number of hedge funds and sovereign wealth vehicles began allocating to digital assets in response to these global macro pressures.The establishment of a US strategic crypto reserve — reportedly holding both BTC and ETH — is a clear signal that crypto is no longer a fringe asset in the eyes of traditional finance or policymakers. Strategic considerations for crypto stakeholders For anyone in crypto — whether you’re building the infrastructure, mining the coins or managing investor portfolios — these policy shifts are very real and very relevant.Diversify If you’re a miner or a hardware-dependent startup relying on one supplier or country for equipment? That’s a liability. Tariffs can spike overnight, slashing your margins and forcing expensive workarounds.Diversifying your supply chain — whether through sourcing from neutral countries or investing in domestic alternatives — can soften the blow. Understand the regulatory landscapeCrypto companies can’t afford to be blind to policy anymore. Tariffs, trade barriers, sanctions — these are market-moving forces. If you deal with mining, cross-border payments or even just hardware shipments, you need to stay plugged into both local and international trade developments.This is where having legal and trade experts on your side becomes less of a luxury and more of a survival tool.Rethink the narrativeThere’s a unique opportunity here to reposition crypto. When traditional economic systems are being shaken by trade wars and retaliatory tariffs, the idea of a decentralized, borderless financial alternative starts to resonate on a whole new level.Crypto has long pitched itself as a hedge against inflation and a tool for financial freedom. In the context of rising global protectionism and economic fragmentation, those messages carry more weight than ever. Smart projects and investors will lean into this narrative, growing from the rain as opposed to simply weathering the storm.
https://cointelegraph.com/explained/what-are-reciprocal-tariffs-and-what-do-they-mean-for-the-crypto-industry

2025-04-26 05:31:06

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Spot Bitcoin exchange-traded funds (ETF) in the United States saw over $3 billion in inflows this week, marking the first full week of consecutive inflows in five weeks.On April 25, the 11 spot Bitcoin (BTC) ETFs saw $380 million in inflows, bringing the total for the week to around $3.06 billion over five consecutive inflow days, according to Farside data. The last time spot Bitcoin ETFs had a full week of inflow days was the week ending March 21.Strong inflow week turns April into positive monthETF analyst Eric Balchunas said in an April 24 X post that “ETFs are on a Bitcoin bender.”“What’s really notable here is just HOW FAST the flows can go from 1st gear to 5th gear,” Balchunas said, forecasting that some of those flows may be due to the “basis trade back in effect.”Source: Satoshi StackerAmid ongoing financial and macroeconomic uncertainty, spot Bitcoin ETFs have experienced a volatile April, with nine out of the total 18 trading days so far being outflow days. However, a strong surge of inflows over the past week has turned the month positive, bringing total net inflows for April to approximately $2.26 billion.On the same day, Strategy founder Michael Saylor reportedly said at the Bitwise Invest Bitcoin Corporations Investor Day that BlackRock’s iShare Bitcoin ETF “will be “the biggest ETF in the world in ten years.”Related: 5 Bitcoin charts predicting BTC price rally toward $100K by May Just two days prior, on April 23, BlackRock’s iShare Bitcoin ETF (IBIT) was awarded the “Best New ETF” at the annual etf.com ETF awards. IBIT was also the recipient of Crypto ETP of the year.Meanwhile, Bitcoin’s spot price continues to hover around the $95,000 price level, currently trading at $94,613 at the time of publication, according to CoinMarketCap data. Institutions are continuing to raise their bullish price targets.Billion-dollar asset manager ARK Invest recently raised its “bull case” Bitcoin price target from $1.5 million to $2.4 million by the end of 2030, driven largely by institutional investors and Bitcoin’s increasing acceptance as “digital gold.”ARK’s “bear” and “base” case scenarios for the price of Bitcoin were also bumped up to $500,000 and $1.2 million.Magazine: Pokémon on Sui rumors, Polymarket bets on Filipino Pope: Asia Express
https://cointelegraph.com/news/us-spot-bitcoin-etfs-consecutive-inflow-week-significant-inflows

2025-04-24 13:05:46

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The telecommunications decentralized physical infrastructure network (DePIN) project, Helium, partnered with US telcom giant AT&T to bring WiFi to its users.According to an April 24 announcement shared with Cointelegraph, as part of the partnership, AT&T customers can now connect to Helium’s community-built WiFi network. Helium Mobile data shows that the network includes over 93,500 hotspots, most of which are in the United States.Helium Network nodes map. Source: Helium WorldThe Helium Network is run by individuals and businesses that acquire and operate small cell towers that act as hotspots. Those individuals are rewarded with digital assets for their help in developing the network and providing coverage.Related: VC Roundup: Investors continue to back DePIN, Web3 gaming, layer-1 RWAsHelium Mobile (Helium’s mobile network division) co-founder and CEO Amir Haleem said that partnering with an industry leader such as AT&T will “rapidly accelerate the adoption of Helium and provide real-world value” to both network participants and the partner’s customers. He also hinted that “this is only the beginning” and that more announcements are to come.Centralized and decentralized, now unitedThe integration with AT&T enables WiFi authentication via AT&T’s Passpoint WiFi roaming service that allows customers to automatically connect to WiFi networks when participating networks are available. With this system, decentralized nodes are integrated into a traditional service network.Helium claims that its decentralized network already has over 800,000 daily users leveraging it for connection. The firm has signed agreements with Telefónica’s Movistar in Mexico and is working with other unspecified mobile network operators that leverage the network to enhance their coverage. The deal follows Helium Mobile’s announcement of a free plan in February, which the company claims is the first free phone plan in the US.Related: DePIN ecosystem tackles file-sharing challenges, proceeds to offer a new solutionA storied companyIn January, the United States Securities and Exchange Commission (SEC) filed a lawsuit against Helium developer Nova Labs. The lawsuit was filed just days before the previous SEC chair, Gary Gensler, stepped down, and alleged that the company sold unregistered investment products.Earlier in April, the SEC settled with Nova Labs and dismissed the lawsuit after payment of a $200,000 civil penalty. A company representative said at the time:“[T]he outcome establishes that selling hardware and distributing tokens for network growth does not automatically make them securities in the eyes of the SEC [and] that the SEC cannot bring these charges against Helium again.”Magazine: Most DePIN projects barely even use blockchain: True or false?
https://cointelegraph.com/news/helium-partners-with-at-t-to-bring-wi-fi-to-thousands-of-us-location

2025-04-23 13:59:06

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Payments behemoth PayPal plans to offer a 3.7% yield on balances held in its PayPal USD stablecoin.According to an April 23 Bloomberg report, a PayPal representative said that the measure aims to encourage more usage of the firm’s stablecoin. The new program is purportedly expected to launch this summer, and the rewards will also be paid out in PayPal USD (PYUSD).Users will be able to exchange PYUSD for fiat currency, spend it, or send it to other users. The rewards will accrue daily and will be paid on a monthly basis. Jose Fernandez da Ponte explained that the company hopes this feature will lead to a higher predominance of stablecoin and crypto payments on its platform.The report follows PayPal USD reaching a $1 billion market cap in the summer of 2024. As of publication, the stablecoin’s market cap is nearly a quarter lower at $873.3 million.PayPal USD’s market cap chart. Source: CoinMarketCapTzahi Kanza, CEO of crypto investment firm Syndika, told Cointelegraph that “from a regulatory standpoint, PayPal must ensure that offering interest doesn’t cause its stablecoin to be classified as a security.“ When it comes to financial risks for the users, he believes that PayPal can keep its promises, and the main risk is still losing the peg to the dollar and not interest-related issues. He said:“Stablecoins that don’t offer yield are generally not considered securities. However, yield-bearing stablecoins may fall under that classification.”Related: PayPal's Xoom launches cross-border stablecoin settlementPayPal is betting on cryptoPayPal is betting on blockchain technology with its continued product development. Reports from earlier in April show that PayPal has expanded its cryptocurrency offerings to include Chainlink (LINK) and Solana (SOL), giving US-based users the ability to buy, sell and transfer the popular tokens.In fact, PayPal was cited by Polygon Labs CEO Marc Boiron as one of the catalysts for the stablecoin industry’s rapid growth in recent years. In an interview with Cointelegraph, Boiron said, “Companies like Stripe and PayPal integrating stablecoins is likely the primary catalyst for their growth.”Related: PayPal, Ernst & Young settle first corporate payment via PYUSD stablecoinThe story of PayPal USDPYUSD is a US dollar-pegged stablecoin issued by Paxos Trust Company on behalf of PayPal in August 2023. At the time of the launch, PayPal became the first major payment network to launch its own stablecoin, with Venmo rolling out support in September 2023.Each token is purportedly backed one-to-one by cash deposits, short-term US Treasury notes and similar cash-equivalent assets in accounts overseen by the New York State Department of Financial Services. Initially, PYUSD was a token compliant with the ERC-20 Ethereum standard, but has since also been deployed on Solana (SOL).PayPal USD’s current market cap is still a far cry from the top stablecoin, Tether’s USDt (USDT). At the time of writing, CoinMarketCap data shows that USDT’s market cap stands at $145.32 billion, over 17,255% higher than PYUSD’s. Kanza said that “Tether’s strength lies in its market dominance — not in its regulatory compliance, transparency, or yield” since it does not offer those. He added:“To compete effectively, targeting these three areas — compliance, transparency and returns — would be a smart strategy [for PayPal.]“Magazine: Chinese Tether laundromat, Bhutan enjoys recent Bitcoin boost: Asia Express
https://cointelegraph.com/news/paypal-stablecoin-pyusd-yield-launch

2025-04-23 13:56:06

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Richard Heart, the controversial founder of HEX, is claiming total victory over the US SEC after years of court battles.On April 21, the SEC said that it would not amend and refile its fraud case against the former child actor and crypto evangelist. A court had dismissed the SEC’s fraud charges against Heart on Feb. 28.Heart announced on X that HEX had obtained a victory very few crypto projects could boast: “Richard Heart, PulseChain, PulseX, and HEX have defeated the SEC completely and have achieved regulatory clarity that nearly no other coins have.”HEX may be out of hot water with American securities regulators (for now), but Heart still faces charges in Europe, where he is wanted both for alleged tax fraud and for alleged assault on a minor. Richard Heart, real name Richard James Schueler, is still on Interpol’s wanted list. Source: InterpolSEC claimed Heart used HEX to defraud investorsIn July 2023, the SEC filed a complaint against Heart, whose real name is Richard James Schueler, along with HEX, HEX’s layer-1 blockchain project, PulseChain, and the decentralized exchange (DEX) for the PulseChain network, PulseX. The SEC made a number of allegations, including securities fraud and securities registration violations. It asked the court to bar Heart and his projects from participating in any sort of crypto asset security offering and to give up “all ill-gotten gains received as a result of the violations alleged.”The complaint noted Heart’s repeated claims that HEX could offer incredible rewards to make investors rich. It also wrote that Heart spent over $12 million of proceeds from HEX offerings on luxury goods such as watches, sports cars and a 555-carat diamond ring.Indeed, Heart is no stranger to the finer things in life. His celebrity is in part due to his frequent displays of wealth. In one video on X, he flaunted Louis Vuitton cases filled with dozens of luxury watches that he said were worth 9 million euros. Richard Heart wears four Rolex watches. Source: Luxury BazaarHeart’s court case came down to jurisdiction. Last year, his legal team filed a motion to dismiss the case on the grounds that the SEC failed to show that any activities had occurred within the United States. The SEC protested the motion. Ultimately, US District Judge Carol Bagley Amon agreed with Heart (the HEX founder does not live in the US), and she ruled that the statements regarding HEX’s price were targeted to a global audience — not US investors.“The alleged misappropriation occurred through digital wallets and crypto asset platforms, none of which were alleged to have any connection with the United States,” Amon stated.Finnish authorities want Heart on tax and assault chargesHeart claims that this legal victory provides new ground on which the crypto industry can thrive, creating a legal precedent that supposedly makes HEX safer to work with than any other crypto project.Heart and HEX may not face American securities regulators, but he is still in hot water with Finnish authorities over alleged tax evasion and assault.In September 2024, Finnish media wrote that Heart, who was reportedly residing in Helsinki, was remanded into custody in absentia. Finnish investigators, at the request of the country’s tax authorities, were investigating Heart and reportedly found that Heart’s income reporting did not match the tax service’s estimates.Helsinki police detective Harri Saaristol said, “Based on the very considerable amount of money in question and the long-term and planned nature of the activity, there are grounds to suspect gross tax evasion.”Related: Interpol issues ‘Red Notice’ for Hex founder Richard HeartIn the course of their investigation, Finnish police seized millions of euros worth of luxury watches from a residence in the city of Espoo near Helsinki. Europol also stated that Heart (referred to as Schueler in the report) is wanted for assaulting a minor. “Schueler physically assaulted a 16-year-old victim by grabbing their hair, dragging them into the stairwell and knocking them to the ground.”The allegations together have earned him a profile on Europol and Interpol’s most wanted criminal lists. Investigations are ongoing. How long can HEX keep it up?It seems Heart dodged US regulation because the SEC lacked jurisdiction rather than evidence. So, how long can he keep HEX going?Industry observers and analysts have long claimed that HEX was a new form of Ponzi scheme, namely due to the promises of a whopping 38% annual percentage yield, larger profits for onboarding new users and the fact that Heart owned some 90% of HEX tokens.Despite a number of committed acolytes on social media, the token seems all but dead. HEX’s price pumped briefly on news of the SEC dismissal. Zooming out, it’s barely moved since Heart’s legal troubles with the SEC began.At publishing time, HEX’s price is $0.002253; 24-hour transaction volumes barely top $250,000. HEX’s price spiked in 2021 before nearly falling off by early 2023. Source: CoinMarketCapMagazine: Former Love Island star’s tips on how to go viral in crypto: Van00sa, X Hall of Flame
https://cointelegraph.com/news/how-richard-heart-hex-beat-sec-fraud-charges

2025-04-19 13:11:42

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Bitcoin (BTC) faces “unprecedented” US dollar correlation as new BTC price research gives a $75,000 floor.In one of his latest analyses on April 18, network economist Timothy Peterson calculated that BTC/USD may rise as high as $138,000 within the next three months.BTC price probabilities give bulls the upper handBitcoin is navigating highly unusual macroeconomic conditions as a result of the ongoing US trade war, but history still offers clues as to where BTC price action may head next.For Peterson, the US High Yield Index Effective Yield, currently at over 8%, holds the key.“This has happened 38 times since 2010 (monthly data),” he summarized. “3 months later: Bitcoin was up 71% of the time. The median gain was +31%. If it went lower, the worst loss was -16%.”US High Yield Index Effective Yield. Source: Timothy Peterson/XWith BTC/USD performance thus skewed to the upside, Peterson gave hope to those waiting for a rematch of all-time highs from January.“This likely puts Bitcoin between $75k and $138k within 90 days,” he concluded.Bitcoin would need to deliver 62% gains within that period to achieve that maximum level.As Cointelegraph reported, Peterson has been a frequent contributor to BTC price forecasts in 2025, with one of his proprietary tools, Lowest Price Forward, giving 95% odds of a $69,000 floor in March.Bitcoin DXY correlation will flip negativeTurning his attention to the dramatic drop in the US dollar index (DXY) thanks to US trade tariffs, he predicted that its unusual positive correlation with BTC would ultimately end.Related: Bitcoin price volatility 'imminent' as speculators move 170K BTC — CryptoQuant“This level of BTC-USD correlation is unprecedented. The relationship is not causal, but reflective of underlying conditions affecting both,” he explained. “Historically inverse, the relationship flipped in 2024 as both assets began responding to the same macro stressors: tightening liquidity, high real rates, and global risk aversion. BTC will decouple and rise when real yields drop + liquidity returns.”BTC/USD vs. US dollar index (DXY). Source: Timothy Peterson/XDXY continued to stay below the key 100 mark on April 18, per data from Cointelegraph Markets Pro and TradingView, reflecting some of its lowest levels in the past three years.Earlier, separate analysis nonetheless saw the potential for Bitcoin to directly benefit from dollar weakness in a manner similar to the early innings of the bull run in 2023.US dollar index (DXY) 1-week chart. Source: Cointelegraph/TradingViewThis article does not contain investment advice or recommendations. Every investment and trading move involves risk, and readers should conduct their own research when making a decision.
https://cointelegraph.com/news/bitcoin-can-reach-138k-in-3-months-macro-btc-price-upside

2025-04-16 21:37:30

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Solana’s native token SOL (SOL) failed to maintain its bullish momentum after reaching the $134 level on April 14, but an assortment of data points suggest that the altcoin’s rally is not over. SOL price is currently 57% down from its all-time high, partially due to a sharp decline in its DApps activity, but some analysts cite the growth in deposits on the Solana network as a catalyst for sustained price upside in the short term.Blockchains ranked by total value locked, USD. Source: DefiLlamaSolana has established itself as the second-largest blockchain by total value locked (TVL), with $6.9 billion. After gaining 12% over the seven days ending April 16, Solana has pulled ahead of competitors such as Tron, Base, and Berachain. Positive signs include a 30% increase in deposits on Sanctum, a liquid staking application, and 20% growth on Jito and Jupiter.Solana's DEX volume surpasses Ethereum layer-2sOne could argue that Solana’s TVL roughly matches the Ethereum layer-2 ecosystem in deposits. However, this comparison overlooks Solana’s strong position in decentralized exchange (DEX) volumes. For example, in the seven days ending April 16, trading activity on Solana DApps totaled $15.8 billion, exceeding the combined volume of Ethereum scaling solutions by more than 50% during the same period.Blockchains ranked by 7-day DEX volumes, USD. Source: DefiLlamaSolana reclaimed the top spot in DEX activity, surpassing Ethereum after a 16% gain over seven days. This was supported by a 44% increase in volume on Pump-fun and a 28% rise on Raydium. In contrast, volumes declined on the three largest Ethereum DApps—Uniswap, Fluid, and Curve Finance. A similar trend occurred on BNB Chain, where PancakeSwap, Four-Meme, and DODO saw reduced volumes compared to the previous week.It would be unfair to measure Solana’s growth only by DEX performance, as other DApps handle much smaller volumes. For example, Ondo Finance tokenized a total of $250 million worth of assets on the Solana network. Meanwhile, Exponent, a yield farm protocol, doubled its TVL over the past 30 days. Similarly, the yield aggregator platform Synatra experienced a 43% jump in TVL during the past week.Synatra DApp screenshot. Source: CointelegraphAnalysts are confident that a Solana spot exchange-traded fund (ETF) will be approved in the United States in 2025. However, expectations for significant inflows are limited due to a general lack of interest from institutional investors and the recent poor performance of similar Ethereum ETF instruments. If the spot ETF is approved, it could strengthen Solana’s presence—especially if the US government’s Digital Asset Stockpile plans come to fruition.Related: Real estate fintech Janover doubles Solana holdings with $10.5M buyInvestors are eagerly awaiting the full audit of US federal agencies’ crypto holdings, initially expected by April 7. However, after missing this deadline, some journalists suggest that the executive order signed on March 7 did not require the findings to be made public. Regardless of whether SOL appears on that list, there are currently no plans from the government to acquire cryptocurrencies other than Bitcoin (BTC).Currently, there are few catalysts to justify a rally to $180, a level last seen 45 days ago on March 2. Without external factors causing a large influx of new participants into the crypto ecosystem, the increase in TVL and DEX market share alone is unlikely to push SOL’s price to outperform the broader market.This article is for general information purposes and is not intended to be and should not be taken as legal or investment advice. The views, thoughts, and opinions expressed here are the author’s alone and do not necessarily reflect or represent the views and opinions of Cointelegraph.
https://cointelegraph.com/news/solana-price-is-up-36-from-its-crypto-market-crash-lows-is-180-sol-the-next-stop

2025-04-12 05:06:04

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Tron founder Justin Sun says he’s unaware of the recent rumors surrounding former Binance CEO Changpeng “CZ” Zhao, following reports alleging that Zhao provided evidence against him as part of his plea deal with the US Department of Justice (DoJ).“I’m not aware of the circulating rumors. CZ is both my mentor and a close friend,” Sun said in an April 11 X post. Sun brushes off CZ rumors“He has played a crucial role in supporting me during my entrepreneurial journey,” Sun added.Sun’s X post came just hours after speculation grew over an April 11 Wall Street Journal report, which alleged that Zhao agreed to provide evidence on Sun as part of his plea deal citing sources familiar with the matter. Zhao was sentenced to four months in prison in April 2024 for Anti-Money Laundering (AML) violations.The report added, “that arrangement hasn’t previously been reported.”Source: dbSun commended Zhao’s integrity and said that the DoJ is one of T3 Financial Crime Unit’s (T3 FCU) — which Tron co-founded along with Tether and TRM Labs — “closest and most trusted partners.” “To this day, his conduct and principles remain the highest standard I strive to follow as a founder,” Sun said of Zhao. Sun added:“Whether it’s CZ or our partners at the DOJ, we maintain direct, honest communication at all times. I have full trust in each and every one of them.”Zhao walked free from a US federal prison on Sept. 27. With a reported net worth of approximately $60 billion, Zhao is the wealthiest person ever to serve a prison sentence in the US.Source: Justin SunMeanwhile, on Feb. 26, the US Securities and Exchange Commission and Justin Sun asked a federal court to pause the regulator’s case against the crypto entrepreneur to allow for settlement talks.In March 2023, the SEC sued Sun and three of his companies, the entity behind Tron, the Tron Foundation and the file-sharing platform backers the BitTorrent Foundation and its San Francisco-based parent firm, Rainberry Inc.Cointelegraph reached out to the US Department of Justice but did not receive a response by time of publication.
https://cointelegraph.com/news/tron-justin-sun-denies-knowledge-rumors-binance-founder-cz

2025-04-10 11:51:18

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Tokenized gold trading volume surged to a two-year high this week, topping $1 billion as investors pivoted toward safe-haven assets amid global uncertainty triggered by US President Donald Trump’s import tariffs.The weekly trading volume of tokenized gold surpassed the $1 billion mark for the first time since March 2023, when a US banking crisis saw the sudden collapse of Silicon Valley Bank and the voluntary liquidation of Silvergate Bank. Signature Bank was also forced to close operations by New York regulators on March 12, two days after Silvergate’s liquidation.Tokenized gold has experienced a significant surge in trading interest since early February, when global trade war fears started spreading to digital markets, according to a CEX.io research report shared with Cointelegraph.Top tokenized gold assets, trading volume. Source: CoinGecko, Cex.ioSince Trump’s first tariff announcement on Jan. 20, Paxos Gold (PAXG) trading volume has surged by over 900%, Tether Gold (XAUT) trading rose over 300% and Kinesis Gold (KAU) volume increased by more than 83,000%.Tokenized gold has become one of the best-performing crypto categories since Trump’s inauguration, surging over 21% in market cap and over 1,000% in trading volume, while stablecoins saw an 8% market cap increase and a 285% trading volume expansion during the same period.Tokenized gold, market cap. Source: Cex.ioTokenized gold is part of the growing real-world asset (RWA) tokenization sector, which refers to financial products and tangible assets such as real estate and fine art minted on the blockchain.Related: BlackRock ‘BUIDL’ tokenized fund triples in 3 weeks as Bitcoin stallsGold prices hit new highsThe surge in tokenized gold coincides with a record-setting performance in physical gold. On March 31, gold hit an all-time high of over $3,100 per ounce and was trading above $3,118 at the time of writing.BTC, gold, year-to-date chart. Source: Cointelegraph/TradingViewSince the beginning of 2025, the price of gold has risen over 18%, outperforming Bitcoin (BTC), which has fallen by more than 12% year-to-date, TradingView data shows.Gold’s robust price performance after key tariff-related events highlights a growing appetite for safe-haven assets, according to Illia Otychenko, lead analyst at Cex.io.However, tokenized gold remains far from being a physical gold competitor at the current “stage of RWA development,” the analyst told Cointelegraph, adding:“Tokenized gold presents a compelling alternative for crypto-native investors who might otherwise look to Bitcoin or stablecoins.”“In this context, tokenized gold has primarily served as a diversification tool, gaining increasing traction in investor portfolios as market uncertainty deepens,” he addedRelated: Stablecoins, tokenized assets gain as Trump tariffs loomGeopolitical trade tensions caused by Trump’s import tariffs have inspired a flight to safety among crypto investors, specifically toward stablecoins and tokenized assets.Following the 2023 banking crisis, the Federal Reserve created the Bank Term Funding Program, offering banking loans of up to a year in return for posting “qualifying assets” as collateral.This emergency measure was what started the Bitcoin bull run in 2023, according to BitMEX co-founder and former CEO Arthur Hayes.Magazine: Ripple says SEC lawsuit ‘over,’ Trump at DAS, and more: Hodler’s Digest, March 16 – 22
https://cointelegraph.com/news/tokenized-gold-hits-1-b-high-first-2023-us-banking-crisis

2025-04-10 09:56:07

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Jack Dorsey, a cryptocurrency entrepreneur and former Twitter CEO, is encouraging Signal Messenger to integrate Bitcoin for peer-to-peer (P2P) payments, a move that could shift the platform’s crypto strategy away from altcoins.“Signal should use Bitcoin for P2P payments,” Dorsey wrote on X on April 9, replying to a post by Bitcoin developer Calle, who suggested that Bitcoin (BTC) would be a perfect fit for Signal’s private communication channel.Source: Jack DorseyDorsey’s call to action was echoed by other industry leaders, including former PayPal president David Marcus, who wrote that “all non-transactional apps should connect to Bitcoin.”The endorsements reflect a growing push to promote Bitcoin as a functional payment system rather than just digital gold or a pure store of value, which alone — according to Dorsey — won’t ensure the success of BTC.Signal offers payments with Sentz, formerly MobileCoinFounded in 2014, Signal is an open-source, encrypted messaging service for instant messaging, voice calls and video calls.The messenger currently offers in-app payments in MobileCoin (MTCN), a privacy-focused ERC-20 token, which rebranded to Sentz in November 2023.Signal’s website mentions the old name of Sentz (MobileCoin) as the only supported cryptocurrency within the messenger. Source: SignalBacked by high-profile industry players like BlockTower Capital and Coinbase Ventures, Sentz was founded in 2017 by Josh Goldbard and Shane Glyn to enable a “fast, private, and easy-to-use cryptocurrency.”Related: Kraken taps Mastercard to launch crypto debit cards in Europe, UKSignal came under fire over its MobileCoin integration in 2021, with many raising concerns over potential ties between Signal’s founder and MTCN, opacity around its issuance and suspicious gains leading up to the partnership’s announcement.Cointelegraph reached out to Signal regarding potential plans to integrate Bitcoin but had not received a response as of publication.Social media apps historically pushed altcoinsSignal is far from being alone in pushing altcoin payments instead of offering its users payments in Bitcoin, which is designed for P2P payments as its core use case, according to its anonymous creator, Satoshi Nakamoto.Although former PayPal president Marcus is now advocating for Bitcoin usage by all non-transactional apps, he previously led Meta’s (formerly Facebook) project developing the firm’s own payment cryptocurrency, initially known as Libra, which eventually failed.Source: DogeDesignerTelegram, another messenger popular in the community, has also been aggressively pushing its ecosystem to use Toncoin (TON), a crypto asset linked to Telegram founders, though not technically managed by Telegram.Elon Musk’s “everything app” X has also been suspected of planning to launch its own coin for a long time, but Musk publicly denied that in August 2023.Magazine: 3 reasons Ethereum could turn a corner: Kain Warwick, X Hall of Flame
https://cointelegraph.com/news/signal-should-add-bitcoin-p2p-payments

2025-04-10 02:26:51

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Ukraine’s financial regulator has proposed taxing certain crypto transactions as personal income at a rate of up to 23% but excluding crypto-to-crypto transactions and stablecoins. Crypto transactions would be taxed at 18% with a 5% military levy on top as part of the proposed framework, released on April 8 by Ukraine’s National Securities and Stock Market Commission. NSSMC Chairman Ruslan Magomedov said in an April 8 statement that “the issue of crypto taxes is not a hypothesis, but a reality that is fast approaching.” He added that the agency created the framework to help lawmakers make an “informed resolution” by considering each suggestion’s advantages and disadvantages because “these aspects can have a critical impact on the market and tax liability.”Under the NSSMC’s proposed crypto framework, a tax will be applied when crypto is cashed out for fiat currency or exchanged for goods or services. Crypto-to-crypto transactions wouldn’t be taxed, bringing Ukraine in line with other European countries, including Austria and France, as well as crypto-friendly jurisdictions like Singapore, the NSSMC said. The regulator says it “makes sense” to exclude stablecoins backed by foreign currencies or only apply a 5% or 9% tax because Ukraine’s tax code already excludes income from transactions in “foreign exchange values.” A translated excerpt of the NSSMC’s report said stablecoins backed by foreign currencies could be exempt from taxation. Source: NSSMCMining, staking, hard forks and airdrops Other crypto-related activities, such as mining, staking and airdrops, are also addressed in the framework which floated a few options for taxation. The NSSMC said crypto mining is generally considered a business activity, but there might be a general tax-free limit for certain crypto transactions, including mining. Under the framework, staking could be considered as “business captive income” or only taxed if the crypto is cashed out for fiat currencies. While hard forks and airdrops could be taxed either as ordinary income or when the tokens are cashed. Related: Ukraine officials get training on crypto and virtual assets investigationThe regulator suggests a tax-free threshold could help “relieve the burden on small investors” and is common in other jurisdictions. Exemptions for donations, transfers between family members, and holders who keep their crypto for a set amount of time are also flagged as possibilities. However, the NSSMC says the exemption might not apply to non-custodial crypto wallets. Last December, Daniil Getmantsev, head of the tax committee of Ukraine’s parliament, said a draft bill to legalize cryptocurrencies was under review and expected to be finalized early this year. Ukrainian President Volodymyr Zelenskyy first signed a law establishing a legal framework for the country to operate a regulated crypto market in March 2022. Magazine: New ‘MemeStrategy’ Bitcoin firm by 9GAG, jailed CEO’s $3.5M bonus: Asia Express
https://cointelegraph.com/news/ukraine-floats-23-percent-tax-crypto-excludes-stablecoins

2025-04-09 21:33:08

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Aave’s tokenholders approved a governance proposal to start buying back the decentralized finance (DeFi) protocol’s governance token, AAVE, as part of a broader tokenomics overhaul, Aave said on April 9. The proposal — which was approved by more than 99% of AAVE tokenholders — permits the protocol to purchase $4 million in AAVE (AAVE) tokens, enough for one month of buybacks. The move is a “first step” toward a broader plan to repurchase $1 million AAVE tokens weekly for six months. It is also the latest instance of DeFi protocols implementing buyback mechanisms in response to tokenholder demands.“The goal is to sustainably increase AAVE acquisition from the open market and distribute it to the Ecosystem Reserve,” the proposal said. The AAVE token’s price rallied more than 13% on April 9, bringing the protocol’s market capitalization to more than $2.1 billion, according to data from CoinGecko.The buyback proposal passed with overwhelming support. Source: AaveRelated: Aave proposal to peg Ethena’s USDe to USDT sparks community pushbackBuybacks gain popularityIn March, the Aave Chan Initiative (ACI), a governance advisory group, proposed a tokenomics revamp that would include new revenue allocations for AAVE tokenholders, enhanced safety features for users, and the creation of an “Aave Finance Committee.”Aave is Web3’s most popular DeFi protocol, with total value locked surpassing $17.5 billion as of April 9, according to DefiLlama. It is also among DeFi’s biggest fee generators, with an estimated annualized fee income of $350 million, the data shows. Aave is DeFi’s most popular protocol by TVL. Source: DeFILlamaDeFi protocols are under increasing pressure to provide tokenholders with a share of protocol revenues — partly because US President Donald Trump has fostered a friendlier regulatory environment for DeFi protocols in the United States.Projects including Ethena, Ether.fi and Maple are piloting value-accrual mechanisms for their native tokens.In January, Maple Finance’s community floated buying back native SYRUP tokens and distributing them as rewards to stakers.In December, Ether.fi, a liquid restaking token issuer, tipped plans to direct 5% of protocol revenues toward buying back native ETHFI tokens. Similarly, Ethena, a yield-bearing stablecoin issuer, agreed to share some of its approximately $200 million in protocol revenues with tokenholders in November.Magazine: DeFi will rise again after memecoins die down: Sasha Ivanov, X Hall of Flame
https://cointelegraph.com/news/aave-buyback-proposal-passes-among-holders

2025-04-09 16:36:01

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As markets reel from geopolitical tensions and economic uncertainty, Bitcoin has shown relative resilience during events like Trump’s recent tariff bombshells, according to Blockstream CEO Adam Back.While in the short term, Bitcoin (BTC) may move in tandem with stocks and other risk-on assets, Back sees the long-term trend telling a different story.“Bitcoin is fully decoupled because it's gone up five or six times since the bottom of the market three years ago,” he said during an exclusive interview with Cointelegraph at Paris Blockchain Week.Back, who is one of the original cypherpunks and a key contributor to Bitcoin’s early development, predicts strong adoption tailwinds for BTC: regulatory clarity, institutional interest, and the legitimizing force of exchange-traded funds (ETFs). He notes that while most long-term holders are already “all in” and unable to buy dips, entities like BlackRock and sovereign wealth funds are stepping in, quietly absorbing supply.The Blockstream CEO also touches on the geopolitical dimension, discussing a scenario in which governments may begin actively acquiring Bitcoin. “If the US government doesn't go on a buying spree and buy 1 million Bitcoin over the next five years, that gives more time for the new entrants who've got access finally through brokers and through the ETFs to build up the Bitcoin position.”Despite short-term volatility, Back remains firmly bullish on the mid-term outlook: “Typically, there would be half a dozen 30% drops in a bull market, so I think that's probably where we are now.”Watch the full interview now on the Cointelegraph's YouTube channel — and subscribe for more exclusive conversations with the biggest names in crypto.
https://cointelegraph.com/news/bitcoin-decoupled-tariff-turmoil-adam-back-video

2025-04-09 14:21:02

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The European Central Bank is intensifying its warnings over stablecoin adoption, with one of its top officials calling for a digital euro to curb the influence of US dollar-pegged stablecoins across the continent.ECB executive board member Piero Cipollone has penned another article highlighting concerns over the growing popularity of US dollar stablecoins, arguing that launching a central bank digital currency (CBDC) could help preserve the eurozone’s monetary sovereignty.A potential digital euro “would limit the potential for foreign currency stablecoins to become a common medium of exchange within the euro area,” Cipollone wrote in a statement published April 8 on the ECB’s official website.The remarks follow a string of similar public statements from Cipollone, who has been a vocal advocate for a digital euro as a strategic response to the dominance of dollar-backed stablecoins in Europe.A “public-private partnership to retain sovereignty”In the latest piece, Cipollone reiterated that excessive reliance on foreign providers — including stablecoins as well as international card schemes — compromises the monetary sovereignty of Europe.“It also underscores the urgent need for a digital euro. Failing to act would not only expose us to significant risks but also deprive us of a great opportunity,” the central banker said.ECB’s executive board member Piero Cipollone. Source: BloombergCipollone also cited concerns about the United States’ increasingly crypto-friendly stance under the current administration, including efforts to promote dollar-based stablecoins globally.Related: Lawmaker alleges Trump wants to replace US dollar with his stablecoin“They could potentially result not just in further losses of fees and data, but also in euro deposits being moved to the US and in a further strengthening of the role of the dollar in cross-border payments,” he said, adding:“Faced with these challenges, we need a public-private partnership to retain our sovereignty. The digital euro — as a sovereign European means of payment based on EU legislation — would be the cornerstone of this partnership.”ECB wants to promote cash but can’t do it onlineCipollone also highlighted the “vital role of cash” in ensuring financial inclusion and resilience, stating that cash remains a “cornerstone of the European financial system” and is its only sovereign means of payment.However, a growing preference for digital payments has limited the use of cash amid the rapid growth of online shopping, which now accounts for one-third of European retail transactions, he said.“Cash cannot be used online, and it is often not possible to pay using a European payment service, meaning we need to rely on non-European payment systems,” Cipollone added.“The time to act is now,” he said. “Making progress on both the digital euro regulation and the regulation on the legal tender status of cash has become urgent if we are to increase our resilience to possible disruptions and reverse our ever-increasing dependence on foreign companies.”Despite the ECB’s ongoing efforts, the proposed digital euro has faced criticism and skepticism among European consumers, especially around data privacy concerns.An ECB working paper on the digital euro published in March showed that European consumers are not interested in adopting a digital euro, with many seeing little value in the potential CBDC.Magazine: Stablecoin for cyber-scammers launches, Sony L2 drama: Asia Express
https://cointelegraph.com/news/digital-euro-limit-stablecoin-use-europe-ecb

2025-04-09 13:40:08

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Core, a proof-of-stake blockchain built on Bitcoin, has surpassed $260 million in dual-staked assets as institutional interest in Bitcoin-based decentralized finance (DeFi) continues to grow.Core’s initial contributor, Rich Rines, told Cointelegraph that as of April 7, over 44 million Core tokens have been dual-staked with 3,140 Bitcoin (BTC). At the time of writing, the assets are worth about $260 million. Core’s dual-staking model lets Bitcoin holders earn higher yields with CORE tokens. While users can stake BTC at a lower rate, those who stake BTC with Core tokens get an enhanced yield. “Dual Staking can multiply base staking rewards over 15 times, depending on how many CORE tokens are staked,” Core said in a statement. Core’s new milestone highlights growing demand for Bitcoin stakingThe latest milestone was driven in part by institutional investors integrating Core’s staking model into their platforms.Core Foundation said that major custodians like BitGo, Copper and Hex Trust have enabled their clients to gain access to the protocol by integrating dual staking. Core added that it had partnered with Maple Finance for a structured asset that uses Core’s dual-staking to generate yield. Rines told Cointelegraph that institutions have been crucial catalysts to the early success of its dual staking model. He said the model unlocks new opportunities for institutions. “This shift has broader implications for the Bitcoin ecosystem. Historically, institutional BTC holdings required paying custody fees without generating yield,” Rines told Cointelegraph.He added that by integrating Core’s staking model, institutions can turn Bitcoin into a yield-bearing asset that offsets costs and unlocks new capital efficiencies.At the time of writing, Core holds the biggest total value locked (TVL) among Bitcoin sidechains. Footprint analytics puts Core’s TVL above $400 million, with a market share of 28%. Distribution of chain TVLs among Bitcoin sidechains. Source: Footprint AnalyticsRelated: Bitcoin ETFs lose $326M amid ‘evolving’ dynamic with TradFi marketsBitcoin becoming “productive” The Core team said the increase in the number of dual-staked CORE tokens highlights how the product fulfills its design. Rines told Cointelegraph: “The 44 million+ CORE tokens dual-staked to date show real adoption of the model. It reflects that users, both retail and institutional, are actively looking to put their Bitcoin to work securely and sustainably.”Rines emphasized that Core’s dual-staking system offers a sustainable utility for long-term Bitcoin holders without requiring them to relinquish custody.“This is Bitcoin becoming productive, not by trusting third parties, but by participating in a system designed to reward real alignment and long-term engagement,” Rines said.Magazine: New ‘MemeStrategy’ Bitcoin firm by 9GAG, jailed CEO’s $3.5M bonus: Asia Express
https://cointelegraph.com/news/core-blockchain-institutional-adoption-260-million-dual-staking

2025-04-08 19:37:08

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Aavegotchi, a non-fungible token (NFT) protocol focused on Web3 gaming, has opted to abandon blockchain network Polygon and “go all-in” on Base, an Ethereum layer-2 scaling chain, according to the results of an onchain vote. On April 8, Aavegotchi’s community members voted 93.5% in favor of a proposal to “Make Aavegotchi Based Again” by deprecating the protocol’s smart contracts on Polygon and re-deploying on Base, according to Aavegochti’s governance page. “Given our close relationship with the Base team, as well as recent developments in the Base ecosystem […] we believe the most +EV move for Aavegotchi (for this cycle, at least) is to sunset [its Polygon deployment] and go all-in on Base,” Aavegotchi founder Dan said in a February X post proposing the shift.The migration reflects Aavegotchi’s efforts to adapt to 2025’s cryptocurrency market downturn, which was worsened last week by President Donald Trump’s plan to impose sweeping tariffs on most US imports. Aavegotchi’s developer, Pixelcraft Studios, has “recently made significant team cuts to reduce our burn and extend runway,” Dan said. Memecoins and NFTs have been among Web3’s hardest-hit segments so far this year.Aavegotchi’s community voted overwhelmingly for the move. Source: AavegotchiRelated: Crypto stocks down, IPOs punted amid tariff tumultPolygon’s flat TVLAavegotchi’s decision also highlights Polygon’s ongoing challenges in maintaining users and total value locked (TVL) in the face of competition from Ethereum layer-2 chains, such as Arbitrum and Base. Polygon’s TVL has declined from highs of nearly $10 billion in 2021 to approximately $725 million as of April 8, according to data from DeFILlama. Both Base and Arbitrum each hold more than $2 billion in TVL, DefiLlama data shows. TVL is a key metric used in DeFi (decentralized finance) to measure the total amount of assets deposited in a protocol. It not only reflects user trust and adoption but also serves as an indicator of available liquidity.According to Dan, Polygon hasn’t delivered any major updates or features for gaming protocols. “Polygon has not shipped any significant updates or features to PoS to enable better ecosystem coherence or discovery for gaming.” Polygon’s growth has been relatively flat in recent years. Source: Coder DanMeanwhile, “both Base and Arbitrum stand out as being both performant and ‘lindy’ – able to stand the test of time,” Dan said, adding he prefers Base because of the chain’s “stronger retail onboarding.”Base is an optimistic rollup launched in 2023 by Coinbase, the US’s largest cryptocurrency exchange. Aavegotchi was created in a collaboration between Pixelcraft Studios and Aave, a decentralized lending protocol. It describes its NFTs as “digital collectibles” that can be “customized with various wearables, such as hats, glasses, and other accessories [and]can be bought, sold, and traded as NFTs,” according to its website. Magazine: XRP win leaves Ripple and industry with no crypto legal precedent set
https://cointelegraph.com/news/aavegotchi-gaming-nfts-votes-to-ditch-polygon-for-base

2025-04-08 03:58:16

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Recent fake news that US President Donald Trump was considering a 90-day pause in tariffs shows the potential for a strong market rebound should a real one take place, according to observers. A fake news post on X on April 7 from the verified “Walter Bloomberg” account claimed that the White House was considering a 90-day pause on tariffs following an interview with Kevin Hassett, one of Donald Trump’s economic advisers. “Hassett: Trump is considering a 90-day pause in tariffs for all countries except China,” read the now-deleted post from the user, who is not affiliated with Bloomberg News. The account, which has a verified badge and 852,000 followers, caused quite a stir after the rumor was mistakenly aired as a banner on CNBC and then amplified by Reuters.The S&P 500 spiked more than 8% from its low on the day in reaction, the Nasdaq added 9.5% in less than an hour and the Dow Jones pumped 7%, adding trillions to stock markets. Bitcoin (BTC) prices saw a similar spike, with the asset pumping 6.5% to top $80,000 briefly before falling back again. The official White House “Rapid Response” account quickly posted on X that this was fake news, and markets began to dump again. “Market ready to ape” at a moment's noticeWhile the rumor was debunked as fake, crypto YouTuber Lark Davis said that the episode revealed some critical things about the market. The market is ready to accept prolonged China negotiations as long as most deals can be resolved, he said before adding the “market is ready to ape, even a lame 90-day delay sent markets soaring.” “Now imagine what happens when dozens of deals are made with top players ie, India, Canada, and the UK. Shit tons of money is on the sidelines, ready to ape in at a moment's notice.”“That fake headline might actually give Trump, Navarro, and Lutnick more confidence to keep pushing this further,” commented X user Geiger Capital, who added, “They now know that at any point they can announce a pause and the market will rally ~10% in a single day.”What really happened in Hasset interviewFox News asked Hasset whether Trump would consider a 90-day pause in tariffs and was given a non-committal response. “I think the president is gonna decide what the president is gonna decide,” he said, adding: “Even if you think there will be some negative effect from the trade side, that’s still a small share of GDP.” Related: Billionaire investor would ‘not be surprised’ if Trump postpones tariffs“The idea that it's going to be a nuclear winter or something like that is completely irresponsible rhetoric,” he said. KILMEADE: Would Trump consider a 90 days pause in tariffs?HASSETT: I think the president is gonna decide what the president is gonna decide ... even if you think there will be some negative effect from the trade side, that's still a small share of GDP pic.twitter.com/3KymvgOwQG— Aaron Rupar (@atrupar) April 7, 2025Shortly after the 90-day tariff pause post was deleted, Trump took to his own social media platform, Truth Social, to threaten China with even more tariffs. “If China does not withdraw its 34% increase above their already long-term trading abuses by tomorrow, April 8th, the United States will impose additional tariffs on China of 50%, effective April 9th,” he said. Magazine: Financial nihilism in crypto is over — It’s time to dream big again
https://cointelegraph.com/news/fake-tariff-news-pump-shows-market-ready-to-ape

2025-04-07 04:00:04

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The Bitcoin network hashrate has topped 1 Zetahash per second (ZH/s) for the first time in Bitcoin’s 16-year history, according to several blockchain data sources.Bitcoin’s hashrate crossed the milestone on April 5 at a peak of 1.025 ZH/s, according to mempool.space data, while BTC Frame data said it hit 1.02 ZH/s a day earlier.Data from Coinwarz says that Bitcoin hashrate soared to as high as 1.1 ZH/s on April 4 at block height 890,915 — however, the same data indicates that Bitcoin first crossed 1 ZH/s on March 24.Bitcoin’s hashrate has fallen back below 0.95 ZH/s on April 7 since reaching 1 ZH/s. Source: BTC FrameDiscrepancy in Bitcoin hashrate trackers The differences result from the varying approaches used to calculate hashrate — such as when block times and difficulty adjustments are measured, which Bitcoin nodes and miner pools are used to pull data from and more.Bitcoin cypherpunk Jameson Lopp also previously pointed out that estimating Bitcoin’s hashrate with one “trailing block” as opposed to five can result in a difference of over 0.04 ZH/s.“Viewing the raw Hashrate metric can be deceiving due to random variations in block times,” added Blockware Solutions head analyst Mitchell Askew, who pointed out that Bitcoin’s 30-day moving average hashrate is still around 0.845 ZH/s mark in a note to Cointelegraph.Notching 1 ZH/s is a massive network achievementDespite the discrepancies, the feat highlights the massive amount of computational power and increasing decentralization of the Bitcoin network, making it more secure than ever and significantly reducing the likelihood of a 51% attack.The Bitcoin network’s reported rise to 1 ZH/s — equivalent to 1,000 Exahashes per second — marks a 1,000x increase since late January 2016, when Bitcoin first hit 1 EH/s for the first time. The second-largest proof-of-work crypto network, Litecoin, currently boasts a hashrate of 2.49 Petahashes per second according to Coinwarz — making it around 40,000 times less computationally powerful than Bitcoin.Source: Pierre RochardAskew noted that the huge rise in hashrate has coincided with more commercial Bitcoin mining firms competing to solve Bitcoin blocks in recent years.“Miners are doubling down: expanding sites and plugging in more efficient machines,” Askew said, adding that less efficient miners could soon be washed out unless Bitcoin’s (BTC) price rallies again in the coming months.MARA Holdings is the largest Bitcoin miner with more than 50 EH/s of compute power, while the largest share of hashrate is channeled to Bitcoin mining pools Foundry USA Pool and AntPool, according to the Hashrate Index.Related: Bitcoin price drops below $80K as stocks face 1987 Black Monday rerunAt least 24 publicly listed Bitcoin companies have machines set up to mine Bitcoin, according to CompaniesMarketCap.com. Among the other large miners contributing hashrate are Riot Platforms, Core Scientific, CleanSpark, Hut 8 Mining and TeraWulf.Bitcoin’s hashrate soars as BTC plummets on recession fearsThe new all-time high in Bitcoin hashrate came in the middle of a sharp market downturn — with Bitcoin (BTC) falling nearly 10% over the last four days to $78,750, while US stocks saw an estimated $6.6 trillion loss on April 3 and 4 — the largest two-day loss ever.Much of the fall has been attributed to US President Donald Trump’s tariff plans, which many industry analysts say are sparking recession fears.Magazine: Financial nihilism in crypto is over — It’s time to dream big again
https://cointelegraph.com/news/bitcoin-hashrate-one-zetahash-first-time-ever

2025-04-05 18:13:30

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Solana’s native token SOL (SOL) dropped by 9% between March 28 and April 4, but several key metrics grew during the same period. Despite SOL’s price downturn, the Solana network continues to outpace competitors, maintaining its second-place position in deposits and trading volume. Traders now wonder how long it will take for SOL’s price to reflect this onchain strength.Solana outperforms rivals in TVL deposits and DEX volumesInvestor’s declining interest in SOL could be linked to the April 4 staking unlock of 1.79 million SOL, worth over $200 million. The selling pressure is clear, as these tokens were staked in April 2021, when SOL traded near $23. Another factor is the decline in interest for memecoins, which had been a major driver of new user adoption on Solana. With fewer speculative inflows, growth in activity may not translate to immediate price gains.Several meme-themed cryptocurrencies, including WIF, PENGU, POPCAT, AI16Z, BOME, and ACT, saw declines of 20% or more over the past seven days. Yet, despite worsening market conditions, the Solana network outperformed some competitors. Its Total Value Locked (TVL) rose to the highest level since June 2022, while decentralized exchange (DEX) volumes showed notable resilience.Solana Total Vale Locked (TVL), SOL. Source: DefiLlamaDeposits in Solana network’s DApps rose to 53.8 million SOL on April 2, marking a 14% increase from the previous month. In US dollar terms, the $6.5 billion total stands $780 million ahead of its closest competitor, BNB Chain. Solana’s top DApps by TVL include Jito (liquid staking), Jupiter (leading DEX), and Kamino (lending and liquidity platform).Solana gains support for scalability, and Web3 focus despite MEV concernsWhile not yet a direct threat to Ethereum’s $50 billion TVL, Solana’s onchain data shows greater resilience compared to BNB Chain, Tron, and Ethereum layer-2 networks like Base and Arbitrum. In decentralized exchange (DEX) volumes, Solana holds a 24% market share, while BNB Chain accounts for 12% and Base captures 10%, according to data from DefiLlama.DEX volumes monthly market share. Source: DefiLlamaWhile Ethereum has regained the lead in DEX volumes, Solana has shown strong resilience following the memecoin bubble burst. For context, Raydium’s weekly volumes dropped 95% from the $42.9 billion all-time high reached in mid-January. Still, Solana has demonstrated that traders appreciate its focus on base layer scalability and integrated Web3 user experience despite ongoing criticism related to maximum extractable value (MEV).Source: X/Cbb0feIn short, MEV occurs when validators reorder transactions for profit. This practice is not unique to Solana, but some market participants—such as user Cbb0fe, a self-proclaimed decentralized finance (DeFi) liquidity provider—have raised concerns about insider gatekeeping. While not stated directly, the criticism likely refers to incentives provided by Solana Labs to offset the high investment and maintenance costs required by certain validators.Supporters of changing Solana’s token emissions argue that rewards earned through MEV already provide sufficient incentives for validators to secure the network, eliminating the need for further inflationary pressure on SOL. Meanwhile, Loring Harkness, a core contributor to Shutter Network, advocates for encrypting transactions before they enter the mempool as a way to prevent validators from manipulating their order.Solana’s growth in TVL and resilience in DEX market share may not be enough for SOL to retest the $200 level seen in mid-February. However, it has firmly secured its second-place position behind Ethereum as a leading platform for decentralized applications, supported by consistent activity, infrastructure development, and growing interest from both developers and users.This article is for general information purposes and is not intended to be and should not be taken as legal or investment advice. The views, thoughts, and opinions expressed here are the author’s alone and do not necessarily reflect or represent the views and opinions of Cointelegraph.
https://cointelegraph.com/news/solana-tvl-hits-new-high-in-sol-terms-dex-volumes-show-strength-will-sol-price-react

2025-04-05 15:03:09

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US President Donald Trump's trade policies will create worldwide macroeconomic turmoil and short-term financial crises that will ultimately lead to greater adoption of Bitcoin (BTC) as a store of value asset, according to Bitwise analyst Jeff Park.Economic instability from the trade war will cause governments to adopt inflationary fiscal and monetary policies, which will further debase currencies and lead to a worldwide flight to safety in alternative stores of value, like Bitcoin, Park argued. This increased demand for BTC will drive prices much higher in the long term, the analyst concluded. In an X post on Feb. 2, Park predicted the immediate impact of a trade war:"The tariff costs, most likely through higher inflation, will be shared by both the US and trading partners, but the relative impact will be much heavier on foreigners. These countries will then have to find a way to fend off their weak growth issues."Despite the Increased demand for Bitcoin as a store of value against rapidly depreciating fiat currencies driving BTC prices higher in the long term, global financial markets would feel the short-term pain and wealth destruction of the trade war, according to Park.Bitcoin hit with short-term price shock due to Covid-19 in March 2020 before rallying to all-time highs during the 2020-2021 bull market. Source: TradingViewRelated: Trump 'Liberation Day' tariffs create chaos in markets, recession concernsGlobal markets feeling the short-term shockTariffs are "stagflationary for the world as a whole," economist and hedge fund manager Ray Dalio wrote in an April 2 X post. Tariffs tend to be more deflationary for the levied goods producers and more inflationary for the importing country, Dalio added.He concluded that the level of debt and trade imbalances will ultimately lead to a global financial shift that changes the established monetary order.The US stock market experienced a dramatic sell-off in the wake of sweeping trade tariffs from the Trump admin. Source: TradingView"If these trade tariffs do lead to a massive trade war, it is going to be very ugly for the whole world," Coin Bureau founder and market analyst Nic Puckrin told Cointelegraph in an interview.The analyst said the US economy has a 40% chance of a recession in 2025 amid fears of a lengthy trade war and the macroeconomic uncertainty brought on by protectionist trade policies.No pain, no gain: Short-term shock to drive asset prices higher long-term?Asset manager Anthony Pompliano recently speculated that the US president is deliberately crashing capital markets to force interest rate cuts and lower the costs of servicing the US national debt.Interest rate on the 10-year US Treasury Bond has come down since the start of Trump’s second term. Source: TradingViewThe interest rate on 10-year US Treasury bonds declined from approximately 4.66% in January to the current rate of 4.00%.Pompliano also concluded that while the current US administration's policies will create short-term pain, the effect of lower interest rates will encourage borrowing and drive risk-on asset prices higher in the long term.Magazine: Bitcoin dominance will fall in 2025: Benjamin Cowen, X Hall of Flame
https://cointelegraph.com/news/no-country-wins-global-trade-war-btc-surge-result

2025-04-04 10:08:46

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The value locked in Bitcoin-based decentralized finance (BTCFi) has surged by more than 2,700% over the past year, potentially transforming Bitcoin from a passive store of value into a productive, yield-bearing asset, according to new research from Binance.BTCFi is a new technological paradigm that aims to bring decentralized finance capabilities to Bitcoin’s base layer. It is one of the fastest-growing crypto sectors, reaching a total value locked (TVL) of over $8.6 billion.The growing value of BTCFi, “along with potential interest rate cuts, may reinforce positive sentiment for Bitcoin in the medium and long term,” Binance Research wrote in a report shared with Cointelegraph.Bitcoin DeFi, total value locked, 2025 chart. Source: Binance ResearchIf the BTCFi sector’s growth trajectory continues, it could open up “new opportunities for Bitcoin holders to generate yield through lending, liquidity provision, and other DeFi mechanisms,” a Binance spokesperson told Cointelegraph, adding:“This may contribute to a shift in how BTC is perceived — from a passive store-of-value to a productive on-chain asset. While it’s too early to determine the full impact, these evolving use cases could support broader adoption and, over time, strengthen demand.”Related: Bitcoin price can hit $250K in 2025 if Fed shifts to QE: Arthur HayesInterest in BTCFi surged after April 2024’s Bitcoin halving, which introduced the Runes protocol, the first fungible token standard on the Bitcoin blockchain.Several Bitcoin-native projects have helped accelerate the trend. Babylon introduced Bitcoin (BTC) staking for the first time in the network’s history, enabling holders to earn passive income from their assets.Hermetica launched the first Bitcoin-backed synthetic dollar, USDh, which debuted with a 25% yield for investors.Related: Crypto trader turns $2K PEPE into $43M, sells for $10M profitBTC long-term holders resume Bitcoin accumulationLong-term Bitcoin holders have restarted their BTC accumulation after the BTC supply held by long-term holders bottomed in February.BTC supply held by long-term holders. Source: Glassnode, Binance ResearchLong-term holders are wallets that have been holding BTC for at least 155 days. Growing accumulation from long-term holders has reduced the available Bitcoin supply on exchanges, which may eventually lead to a supply shock-driven price rally.The growing accumulation trend among long-term holders aligns with a “significant period of adoption for Bitcoin,” due to the establishment of the US strategic Bitcoin reserve and growing institutional interest, according to the research report.Source: Margo MartinOn March 7, US President Donald Trump signed an executive order to create a strategic Bitcoin reserve using BTC seized from government criminal cases.Trump signed the historic Bitcoin reserve order a day ahead of hosting the first White House Crypto Summit, which received mixed reactions from the crypto community.Magazine: Bitcoiner sex trap extortion? BTS firm’s blockchain disaster: Asia Express
https://cointelegraph.com/news/bitcoin-demand-skyrocket-2-700-bitcoin-defi-surge

2025-04-03 15:08:24

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Opinion by: Rob Viglione, co-founder and CEO of Horizen LabsCan you trust your AI to be unbiased? A recent research paper suggests it’s a little more complicated. Unfortunately, bias isn’t just a bug — it’s a persistent feature without proper cryptographic guardrails.A September 2024 study from Imperial College London shows how zero-knowledge proofs (ZKPs) can help companies verify that their machine learning (ML) models treat all demographic groups equally while still keeping model details and user data private. Zero-knowledge proofs are cryptographic methods that enable one party to prove to another that a statement is true without revealing any additional information beyond the statement’s validity. When defining “fairness,” however, we open up a whole new can of worms. Machine learning biasWith machine learning models, bias manifests in dramatically different ways. It can cause a credit scoring service to rate a person differently based on their friends’ and communities’ credit scores, which can be inherently discriminatory. It can also prompt AI image generators to show the Pope and Ancient Greeks as people of different races, like Google’s AI tool Gemini infamously did last year. Spotting an unfair machine learning (ML) model in the wild is easy. If the model is depriving people of loans or credit because of who their friends are, that’s discrimination. If it’s revising history or treating specific demographics differently to overcorrect in the name of equity, that’s also discrimination. Both scenarios undermine trust in these systems.Consider a bank using an ML model for loan approvals. A ZKP could prove that the model isn’t biased against any demographic without exposing sensitive customer data or proprietary model details. With ZK and ML, banks could prove they’re not systematically discriminating against a racial group. That proof would be real-time and continuous versus today’s inefficient government audits of private data. The ideal ML model? One that doesn’t revise history or treat people differently based on their background. AI must adhere to anti-discrimination laws like the American Civil Rights Act of 1964. The problem lies in baking that into AI and making it verifiable. ZKPs offer the technical pathway to guarantee this adherence.AI is biased (but it doesn’t have to be)When dealing with machine learning, we need to be sure that any attestations of fairness keep the underlying ML models and training data confidential. They need to protect intellectual property and users’ privacy while providing enough access for users to know that their model is not discriminatory. Not an easy task. ZKPs offer a verifiable solution. ZKML (zero knowledge machine learning) is how we use zero-knowledge proofs to verify that an ML model is what it says on the box. ZKML combines zero-knowledge cryptography with machine learning to create systems that can verify AI properties without exposing the underlying models or data. We can also take that concept and use ZKPs to identify ML models that treat everyone equally and fairly. Recent: Know Your Peer — The pros and cons of KYCPreviously, using ZKPs to prove AI fairness was extremely limited because it could only focus on one phase of the ML pipeline. This made it possible for dishonest model providers to construct data sets that would satisfy the fairness requirements, even if the model failed to do so. The ZKPs would also introduce unrealistic computational demands and long wait times to produce proofs of fairness.In recent months, ZK frameworks have made it possible to scale ZKPs to determine the end-to-end fairness of models with tens of millions of parameters and to do so provably securely. The trillion-dollar question: How do we measure whether an AI is fair?Let’s break down three of the most common group fairness definitions: demographic parity, equality of opportunity and predictive equality. Demographic parity means that the probability of a specific prediction is the same across different groups, such as race or sex. Diversity, equity and inclusion departments often use it as a measurement to attempt to reflect the demographics of a population within a company’s workforce. It’s not the ideal fairness metric for ML models because expecting that every group will have the same outcomes is unrealistic.Equality of opportunity is easy for most people to understand. It gives every group the same chance to have a positive outcome, assuming they are equally qualified. It is not optimizing for outcomes — only that every demographic should have the same opportunity to get a job or a home loan. Likewise, predictive equality measures if an ML model makes predictions with the same accuracy across various demographics, so no one is penalized simply for being part of a group. In both cases, the ML model is not putting its thumb on the scale for equity reasons but only to ensure that groups are not being discriminated against in any way. This is an eminently sensible fix.Fairness is becoming the standard, one way or anotherOver the past year, the US government and other countries have issued statements and mandates around AI fairness and protecting the public from ML bias. Now, with a new administration in the US, AI fairness will likely be approached differently, returning the focus to equality of opportunity and away from equity. As political landscapes shift, so do fairness definitions in AI, moving between equity-focused and opportunity-focused paradigms. We welcome ML models that treat everyone equally without putting thumbs on the scale. Zero-knowledge proofs can serve as an airtight way to verify ML models are doing this without revealing private data. While ZKPs have faced plenty of scalability challenges over the years, the technology is finally becoming affordable for mainstream use cases. We can use ZKPs to verify training data integrity, protect privacy, and ensure the models we’re using are what they say they are. As ML models become more interwoven in our daily lives and our future job prospects, college admissions and mortgages depend on them, we could use a little more reassurance that AI treats us fairly. Whether we can all agree on the definition of fairness, however, is another question entirely.Opinion by: Rob Viglione, co-founder and CEO of Horizen Labs. This article is for general information purposes and is not intended to be and should not be taken as legal or investment advice. The views, thoughts, and opinions expressed here are the author’s alone and do not necessarily reflect or represent the views and opinions of Cointelegraph.
https://cointelegraph.com/news/how-zero-knowledge-proofs-can-make-ai-fairer

2025-04-02 21:58:50

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Curve Finance, a decentralized lending protocol and exchange, notched record-breaking trading volumes of nearly $35 billion in the first quarter of 2025, a spokesperson for the protocol told Cointelegraph. Trading volumes increased more than 13% from the first quarter of 2024, largely due to a surge in transactions, from around 1.8 million to some 5.5 million in Q1 2025, Curve said. The strong Q1 volumes come amid overall declines in the cryptocurrency market, with the total market capitalization of cryptocurrencies dropping by more than 20% in the year-to-date as of March 31, according to data from CoinGecko.Curve’s total value locked (TVL) over time. Source: DefiLlamaRelated: Curve Finance launches ‘Savings crvUSD’ yield-bearing stablecoinChanging DeFi LandscapeLaunched in 2020, Curve has taken numerous steps in the past year to keep pace with the changing decentralized finance (DeFi) landscape.In June 2024, Curve adopted crvUSD, its stablecoin, for fee distribution to tokenholders, replacing an older model that paid holders in shares of the 3crv liquidity pool.In November, Curve partnered with Elixir, a blockchain network, to help onboard BlackRock’s tokenized money market fund, BUIDL, to DeFi. By the end of 2025, Curve plans to consolidate its lending markets into a single user interface and provide borrowers with more time to close positions before they are liquidated, it told Cointelegraph. Curve founder Michael Egorov said in March that he expects many decentralized exchanges (DEXs) to evolve into bespoke platforms for stablecoins pegged to various currency denominations. "Exchanges between stablecoins of different denominations like the euro, US dollar, and others are not yet properly solved. How to provide liquidity without losing money, but while earning a lot of money, is kind of an open question that I think will be solved soon,” Egorov said.Despite the rise in transactions, the total value locked (TVL) on Curve’s platform is approximately $1.8 billion as of April 2, according to data from DefILlama, down from highs of roughly $2.5 billion at the start of the year. Curve’s native token, Curve DAO (CRV), has a market capitalization of approximately $640 million at this writing, marking a more than 40% decline in the year-to-date, according to data from Cointelegraph.Related: BTC miners adopted ‘treasury strategy,’ diversified business in 2024: Report
https://cointelegraph.com/news/curve-finance-clocks-record-trading-volume-q1-2025

2025-04-02 17:04:29

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If you’ve ever wondered when is the right time to invest in Bitcoin (BTC), you won’t want to miss our latest interview with Matt Hougan. As the chief investment officer at Bitwise, Hougan provides an in-depth analysis, explaining why, from a risk-adjusted perspective, there has never been a more opportune time to buy Bitcoin.In our discussion, Hougan lays out a compelling argument: Bitcoin’s early days were filled with uncertainty — technology risks, regulatory threats, trading inefficiencies, and reputational concerns. Fast forward to today, and those risks have significantly diminished. The launch of Bitcoin ETFs, adoption by major institutional investors, and even the US government’s strategic Bitcoin reserve have all cemented its place in the global financial ecosystem. “Bitcoin is only 10% of gold. So just to match gold, which I think is just a stopping point on its long-term journey, it has to ten-x from here,” he said. But that’s just the beginning. Hougan also touches on Bitcoin’s long-term price potential, why institutional adoption is about to accelerate, and how market fundamentals could push Bitcoin to new heights. “There's just too much structural long-term demand that has to come into this market against a severely limited new supply,” he said.Watch the full interview now on our YouTube channel, and don’t forget to subscribe!
https://cointelegraph.com/news/best-time-ever-to-buy-bitcoin-bitwise-matt-hougan

2025-04-02 08:14:05

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Bitcoin (BTC) investors who bought BTC in 2020 or later are still waiting for higher prices, new research says.In findings published on X on April 1, onchain analytics firm Glassnode revealed that $110,000 was not high enough to make many hodlers sell.Glassnode: 2020 Bitcoin buyers “still holding”Bitcoiners who entered the market between three and five years ago have retained their holdings despite significant BTC price upside.According to Glassnode, this investor cohort, with a cost basis from anywhere between the 2020 lows of $3,600 and the 2021 highs of $69,000, is still hodling.“Although the share of wealth held by investors who bought $BTC 3–5 years ago has declined by 3 percentage points since its November 2024 peak, it remains at historically elevated levels,” it reports.“This suggests that the majority of investors who entered between 2020 and 2022 are still holding.”Bitcoin Realized Cap HODL Waves data. Source: GlassnodeAn accompanying chart shows data from the Realized Cap HODL Waves metric, which splits the BTC supply into sections based on when each coin last moved onchain.Using this, Glassnode is able to draw a distinction between the 2020-22 buyers and those who came immediately before them.“In contrast, over two-thirds of those who had bought $BTC 5–7 years ago exited their positions by the December 2024 peak,” it reveals, reflecting their lower cost basis.Speculators stay cool at BTC price highsAs Cointelegraph reported, more recent buyers, who form the more speculative investor cohort known as short-term holders (STHs), have proven much more sensitive to recent BTC price volatility.Related: Bitcoin sellers 'dry up' as weekly exchange inflows near 2-year lowEpisodes of panic selling have occurred throughout the past six months as BTC/USD hit new record highs and then fell by up to 30%.Continuing, Glassnode argued that current STH participation does not suggest a speculative frenzy — something common to previous BTC price cycle tops.“Short-Term Holders currently hold around 40% of Bitcoin's network wealth, after peaking near 50% earlier in 2025,” it commented alongside Realized Cap HODL Waves data on March 31. “This remains significantly below prior cycle tops, where new investor wealth peaked at 70–90%, suggesting a more tempered and distributed bull market so far.”Bitcoin Realized Cap HODL Waves. Source: GlassnodeThis article does not contain investment advice or recommendations. Every investment and trading move involves risk, and readers should conduct their own research when making a decision.
https://cointelegraph.com/news/bitcoin-sales-109-k-all-time-high-significantly-below-cycle-tops-research

2025-04-02 05:53:05

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Video game retailer GameStop Corporation (GME) has finished a convertible debt offering that raised $1.5 billion, with some proceeds earmarked for buying Bitcoin.The offering was initially set to raise at least $1.3 billion, but purchasers opted for an additional $200 million aggregate principal amount of notes, GameStop said in an April 1 filing with the Securities and Exchange Commission."The company expects to use the net proceeds from the offering for general corporate purposes, including the acquisition of Bitcoin in a manner consistent with the Company's Investment Policy," GameStop added.The convertible notes are debt that can later be converted into equity and are scheduled to mature on April 1, 2030, unless earlier converted, redeemed or repurchased.The conversion rate for the notes will initially be 33 shares of Common Stock per $1,000 principal amount of notes, according to the filing. GameStop shares didn’t see a significant move following the close of the convertible debt offering. GME closed the April 1 trading day up 1.34% at $22.61 and only saw an extra 0.5% bump after the bell, Google Finance data shows.GameStop’s share price barely moved after sharing it closed the convertible debt offering. Source: Google FinancePositive shareholder sentiment saw the stock jump nearly 12% to $28.36 on March 26, the day after GameStop announced its Bitcoin (BTC) plan, but its fortunes reversed the next day, with GME shares dropping nearly 24% to $21.68.Analysts at the time suggested the chilly reception reflected shareholders' fear of GameStop's deeper problems with its business model. GameStop joins growing Bitcoin move On March 25, GameStop confirmed that it had received board approval to invest in Bitcoin and US-dollar-pegged stablecoins using the notes and its cash reserves. Those reserves stood at $4.77 billion as of Feb. 1, compared with $921.7 million a year earlier, according to its 2024 fourth-quarter financial statements. GameStop is a relative latecomer among public companies creating Bitcoin treasuries. A slew of others have already added Bitcoin to their balance sheets in a playbook popularized by Micheal Saylor’s Strategy.Related: Metaplanet adds $67M in Bitcoin following 10-to-1 stock splitThe video game retailer previously made forays into the crypto space with a crypto wallet for its users, which it eventually shut down in November 2023 due to regulatory uncertainty.GameStop is also considered the first example of meme stock success after a short squeeze in 2021 that sent the stock surging over 1,000% in a month as traders flipped the table on hedge funds that had been making money shorting on the company.Magazine: SEC’s U-turn on crypto leaves key questions unanswered
https://cointelegraph.com/news/game-stop-finishes-debt-offering-raise-to-buy-bitcoin

2025-04-01 21:52:05

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Texas Senator Ted Cruz proposed a bill aimed at incentivizing crypto miners to use flared gas for energy generation in the state.In an April 1 notice, Cruz said he had introduced the Facilitate Lower Atmospheric Released Emissions, or FLARE, Act in the US Senate, aiming to make Texas “the number one place for Bitcoin mining.” Bitcoin (BTC) miner MARA Holdings endorsed the proposed legislation on X, claiming it would reduce emissions and “unlock stranded energy.”April 1 draft of FLARE Act. Source: Ted CruzAccording to the text of the bill, the FLARE Act proposed amending the US Internal Revenue Code to incentivize market participants — including digital asset miners — that could “capture gas that would otherwise be flared or vented and to use such gas in value-added products.” If signed into law, the legislation would take effect on properties put into service starting in 2026.A US Senator serving since 2013, Cruz, a Republican, has sometimes proposed legislation that aligns with mainstream figures in his party, including US President Donald Trump. He introduced a bill in March to prohibit the Federal Reserve from issuing a central bank digital currency and disclosed personally holding up to $100,000 in Bitcoin as of August 2024.Related: Bitcoin mining using coal energy down 43% since 2011 — ReportThis is a developing story, and further information will be added as it becomes available.
https://cointelegraph.com/news/ted-cruz-flare-energy-crypto-miners-texas

2025-04-01 21:42:05

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Stablecoin issuer Circle Internet Group has filed an S-1 registration statement for an initial public offering in the US, an April 1 filing with the Securities and Exchange Commission shows.The USD Coin (USDC) issuer is planning to list its Class A common stock on the New York Stock Exchange under the symbol “CRCL,” the filing shows.Circle’s prospectus does not detail the number of shares to be offered or what the IPO target price will be.The IPO filing also showed that Circle brought in $1.67 billion in revenue for 2024 — marking a 16% year-on-year increase — while its EBIDTA (Earnings before Interest, Tax, Depreciation, and Amortization) fell 29% to $284.8 million.Circle’s financials over the last three years ended Dec. 31. Source: SECThis is a developing story, and further information will be added as it becomes available.
https://cointelegraph.com/news/circle-files-initial-public-offering

2025-04-01 21:42:05

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American Bitcoin Corp., a Trump family-backed crypto mining operation, has plans to raise additional capital, including through an initial public offering (IPO), according to an April 1 report by Bloomberg. On March 31, Hut 8 — a publicly traded Bitcoin (BTC) miner — acquired a majority stake in American Bitcoin (formerly American Data Centers), whose founders include Donald Trump Jr. and Eric Trump. After the deal announcement, Hut 8 transferred its Bitcoin mining equipment into the newly created entity, which is not yet publicly traded. While American Bitcoin will focus on crypto mining, Hut 8 plans to target data center infrastructure for use cases such as high-performance computing. The deal “evolves Hut 8 toward more predictable, financeable, lower-cost-of-capital segments,” Asher Genoot, CEO of Hut 8, said in a statement.“So you can see this in the long term as two sister publicly traded companies,” Genoot told Bloomberg. “One that is energy, infrastructure data centers and the other one that’s Bitcoin, AISCs and reserves and together they form a vertically integrated company that has some of the best economics out there.” According to Bloomberg, American Bitcoin is working with Bitmain, a Chinese Bitcoin mining hardware supplier. Bitmain has faced scrutiny after the US blacklisting of its artificial intelligence affiliate Sopghgo, Bloomberg reported. Bitcoin mining revenues per quarter. Source: Coin MetricsRelated: Analysts eye Bitcoin miners’ AI, chip sales ahead of Q4 earningsPivoting to new business linesBitcoin miners are increasingly pivoting toward alternative business lines, such as servicing artificial intelligence models, after the Bitcoin network’s April 2024 “halving” cut into mining revenues.Halvings occur every four years and cut in half the number of BTC mined per block.Miners are “diversifying into AI data-center hosting as a way to expand revenue and repurpose existing infrastructure for high-performance computing,” Coin Metrics said in a March report.Declining cryptocurrency prices have put even more pressure on Bitcoin miners in 2025, according to a report by JPMorgan.Magazine: Elon Musk’s plan to run government on blockchain faces uphill battle
https://cointelegraph.com/news/trump-family-backed-crypto-mining

2025-04-01 21:41:36

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American Bitcoin Corp., a Trump family-backed crypto mining operation, has plans to raise additional capital, including through an initial public offering (IPO), according to an April 1 report by Bloomberg. On March 31, Hut 8 — a publicly traded Bitcoin (BTC) miner — acquired a majority stake in American Bitcoin (formerly American Data Centers), whose founders include Donald Trump Jr. and Eric Trump. After the deal announcement, Hut 8 transferred its Bitcoin mining equipment into the newly created entity, which is not yet publicly traded. While American Bitcoin will focus on crypto mining, Hut 8 plans to target data center infrastructure for use cases such as high-performance computing. The deal “evolves Hut 8 toward more predictable, financeable, lower-cost-of-capital segments,” Asher Genoot, CEO of Hut 8, said in a statement.“So you can see this in the long term as two sister publicly traded companies,” Genoot told Bloomberg. “One that is energy, infrastructure data centers and the other one that’s Bitcoin, AISCs and reserves and together they form a vertically integrated company that has some of the best economics out there.” According to Bloomberg, American Bitcoin is working with Bitmain, a Chinese Bitcoin mining hardware supplier. Bitmain has faced scrutiny after the US blacklisting of its artificial intelligence affiliate Sopghgo, Bloomberg reported. Bitcoin mining revenues per quarter. Source: Coin MetricsRelated: Analysts eye Bitcoin miners’ AI, chip sales ahead of Q4 earningsPivoting to new business linesBitcoin miners are increasingly pivoting toward alternative business lines, such as servicing artificial intelligence models, after the Bitcoin network’s April 2024 “halving” cut into mining revenues.Halvings occur every four years and cut in half the number of BTC mined per block.Miners are “diversifying into AI data-center hosting as a way to expand revenue and repurpose existing infrastructure for high-performance computing,” Coin Metrics said in a March report.Declining cryptocurrency prices have put even more pressure on Bitcoin miners in 2025, according to a report by JPMorgan.Magazine: Elon Musk’s plan to run government on blockchain faces uphill battle
https://cointelegraph.com/news/trump-family-backed-crypto-mining

2025-04-01 21:41:36

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Stablecoin issuer Circle Internet Group has filed an S-1 registration statement for an initial public offering in the US, an April 1 filing with the Securities and Exchange Commission shows.The USD Coin (USDC) issuer is planning to list its Class A common stock on the New York Stock Exchange under the symbol “CRCL,” the filing shows.Circle’s prospectus does not detail the number of shares to be offered or what the IPO target price will be.The IPO filing also showed that Circle brought in $1.67 billion in revenue for 2024 — marking a 16% year-on-year increase — while its EBIDTA (Earnings before Interest, Tax, Depreciation, and Amortization) fell 29% to $284.8 million.Circle’s financials over the last three years ended Dec. 31. Source: SECThis is a developing story, and further information will be added as it becomes available.
https://cointelegraph.com/news/circle-files-initial-public-offering

2025-04-01 19:08:46

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GoMining, a platform that allows users to mine Bitcoin (BTC) through data centers, is launching a $100 million Bitcoin mining fund for institutional investors. Custodied by Bitgo, the fund promises annual distributions from mining yield and a strategy that focuses on Bitcoin rewards and reinvestment.GoMining’s Alpha Blocks Fund comes as more companies have added Bitcoin to their balance sheets, capturing enthusiasm surrounding the resurgence of the world’s top cryptocurrency by market capitalization. Companies that have done so, including Japan’s Metaplanet and medical technology company Semler Scientific, have seen their stock prices increase.“Unlike passive equity investments, the Alpha Blocks Fund offers direct exposure to mined Bitcoin via a fully managed, compounding hashrate strategy,” a GoMining spokesperson told Cointelegraph.“BTC rewards are reinvested to increase the fund’s hashrate and improve miner efficiency — creating real, yield-driven outcomes. Our model is built for performance, not market sentiment, and integrates utility-based advantages that listed mining companies typically don’t offer.”According to a press release shared with Cointelegraph, GoMining Institutional operates with 7.3 Exahash of active hash power.Related: Is cryptocurrency mining still profitable in 2025?“This framework ensures compliance with relevant regulatory requirements and supports our focus on delivering institutional-grade exposure to Bitcoin mining yield strategies,” said the spokesperson, adding that retail users can access a separate digital mining product. The fund will charge a 2% flat annual management fee, with no performance fees applied. While GoMining’s Bitcoin fund caters to institutional investors, its flagship product is geared toward retail miners who may lack the funds to create a heavy-duty mining rig. In 2024, it revealed an attempt to gamify Bitcoin mining through the use of non-fungible tokens.Institutional investment in Bitcoin and other cryptocurrencies like Ether (ETH) has been on the rise since 2024, when the first cryptocurrency exchange-traded funds were launched in the United States. Regulatory clarity from Europe’s MiCA and the enthusiasm for digital assets in the United States might be changing institutional investors’ skepticism about cryptocurrencies. In March 2025, a report by Coinbase revealed that 83% of institutions are planning a crypto allocation.Magazine: AI may already use more power than Bitcoin — and it threatens Bitcoin mining
https://cointelegraph.com/news/go-mining-launches-100-m-bitcoin-mining-fund-for-institutional-investors

2025-04-01 11:32:06

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Tether, issuer of the USDT stablecoin, acquired 8,888 Bitcoin in the first quarter of 2025, according to onchain data.Onchain transaction data shows that Tether moved its newly acquired Bitcoin (BTC), worth roughly $750 million at the time of writing, from a Bitfinex address to a wallet it controls. Data provided by onchain analytics platform Arkham Intelligence shows that the firm currently holds 100,521 BTC, worth about $8.46 billion.Tether’s Bitcoin balance chart. Source: Arkham IntelligenceThe news follows mid-February reports that Tether could be forced to sell part of its Bitcoin holdings to comply with proposed US regulations. JP Morgan wrote in a report that potential stablecoin regulation could consider a significant portion of the firm’s current reserve as non-compliant:“Under the proposed bills, Tether would have to implicitly replace its non-compliant assets with compliant assets. […] This would imply sales of their non-compliant assets (such as precious metals, Bitcoin, corporate paper, secured loans.”Still, Tether argued against the conclusion of the JP Morgan analyst. A Tether spokesperson criticized the analysts in correspondence sent to Cointelegraph, saying “they understand neither Bitcoin nor Tether” and highlighting that the US stablecoin laws have yet to be finalized.Related: Binance ends Tether USDT trading in Europe to comply with MiCA rulesTether becomes an investment powerhouseTether reported $13 billion of profit in 2024, leading to a significant capital reserve that the firm funneled into large-scale investment ventures. As a result of this explosive growth, the stablecoin issuer became the world’s seventh-largest buyer of US Treasurys, surpassing financially significant countries such as Canada, Taiwan, Mexico, Norway and Hong Kong.At the end of March, Tether invested 10 million euros ($10.8 million) in Italian media company Be Water. In February, the firm acquired a majority stake in Juventus FC, a major Series A football club based in Turin, Italy, and also sought to acquire a majority stake in South American agribusiness Adecoagro.The firm’s influence is already growing as a result of those investments. Rumble, a video platform in which Tether invested $775 million in late 2024, recently announced the launch of its wallet for content creator payments with support for Tether’s USDt.Related: ‘Stablecoin multiverse’ begins: Tether CEO Paolo ArdoinoUSDt keeps growingTether’s USDt is the world’s leading stablecoin and the third digital asset by market cap, according to CoinMarketCap data. At the time of writing, USDt’s total supply stands at just under 148 billion.Ignoring the minor deviations from the US dollar’s value, that supply would place the current market cap at almost $148 billion. Whale Alert data shows that on March 31, Tether minted a billion dollars worth of USDt on the Tron blockchain.USDt minting, burning and Bitcoin price. Source: Whale AlertBitcoin’s price has historically tended upward following upticks in USDt minting and large-scale USDt minting has usually followed significant Bitcoin price increases. David Pakman, managing partner at crypto-native investment firm CoinFund, recently said that the global stablecoin supply could surge to $1 trillion by the end of 2025, potentially becoming a key catalyst for broader cryptocurrency market growth.Magazine: Chinese Tether laundromat, Bhutan enjoys recent Bitcoin boost: Asia Express
https://cointelegraph.com/news/tether-buys-bitcoin-q1-2025-holdings-top-8-billion

2025-04-01 11:01:45

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What are crypto ETP outflows? Crypto ETPs give exposure to digital assets via traditional financial instruments. When more money exits these products rather than entering them, it is known as an “outflow” rather than an “inflow” — i.e., more people are selling than buying. Crypto exchange-traded products (ETPs) hold crypto assets as their underlying commodity. The goal is for them to provide an exchange-traded investment for investors who want exposure to crypto without directly buying the digital assets. Many investors, particularly institutions, prefer this method, as it opens up crypto investing within traditional financial instruments. There is no need to venture into unregulated market areas or take responsibility for the security and safety of crypto assets. There are several types of crypto ETPs available, including exchange-traded funds (ETFs), exchange-traded commodities (ETCs) and exchange-traded notes (ETNs). Most famously, Bitcoin ETFs were approved and began trading in January 2024. These crypto ETPs are widely traded and often account for the majority of trading volumes — both inflows and outflows. If you’ve been following the price action of cryptocurrency like Bitcoin (BTC), then you’ll likely have seen stories about crypto ETP outflows. So, what are crypto ETP outflows? This occurs when money flows out of these investment products, indicating that the market is eager to sell off positions. The reasons for this can vary, including profit-taking, negative market sentiment or risk adjustment.Crypto ETP investment trendsThese crypto fund outflows can be large and drive serious volatility in the markets. For example, in March 2025, global crypto products shed $1.7 billion over the course of a week. This compounded outflow totals $6.4 billion in the trailing five weeks. During this time, 17 consecutive days of outflows were recorded, causing the longest streak since records began in 2015. As an investor, understanding ETP flow offers insight into institutional investor sentiment. This can often precede the wider market movements in the coming days and weeks. Outflows can signal warning signs of a changing market dynamic. In the case of record-breaking outflows, it could point to a shift in how institutional money is viewing risk within the crypto markets. Factors driving crypto ETP outflows ETP outflows are driven by a mix of factors, which include economic conditions, industry concerns, regulation, market cycles and more, that can be used to spot upcoming market moves. So, if ETP flows can be a useful way to gauge sentiment changes in the market, then it is critical to understand what drives these flows. Crypto markets are fickle and can move quickly on news cycles. Adding to this, there are several other common factors that correlate to driving ETP outflows:Macroeconomic headwinds: Economic uncertainty and bad news can lead to money flooding out of risky assets. This often includes US Federal Reserve policy concerns, inflation data and interest rate uncertainty. Security concerns: Hiccups within the industry can make investors nervous, especially during news of fraud and hacks such as the $1.5-billion Bybit hack in early 2025.Regulation development: Shifting government positions on crypto can lead to money flows. Particularly, anti-crypto political moves and taxation can spook ETP investors. Market cycles: After significant market gains, pullbacks start to occur as institutions enter a profit-taking phase to book in their profits. This selling action draws money out of the market. Institutional sentiment: Major financial institutions make up a significant chunk of the market. If they decide to reassess their crypto allocation, outflows can begin as strategies move to less risky assets. Technical indicators: Many investors watch technical indicators closely. If key support levels are broken on major cryptocurrencies, selling pressure intensifies quickly.Often, multiple factors, as explained above, can create a perfect storm for retreating investor sentiment and lead to an unprecedented scale of outflows. Understanding these factors can help you to spot the difference between normal volatility and fundamental market shifts. Impact of ETP outflows on crypto markets Crypto ETP outflows are signals of significant sentiment shifts, which in turn continue to put downward pricing pressure on crypto markets. Prolonged outflow streaks are cause for concern for crypto investors, as they indicate a critical shift in investor sentiment for cryptocurrency. Long streaks suggest that market conditions have become particularly challenging. Generally, outflows start with Bitcoin ETPs, as it is the most well-known and largest cryptocurrency. This can then spread to ETPs for other assets like Ether (ETH) before creating a loss of confidence in the whole crypto market. During these periods, you’ll quickly see direct price pressure on crypto assets trickle down the markets. During large ETP outflows, cryptocurrency experiences significant price corrections, which can hit 20% or more in a matter of weeks. Liquidity is also affected, with total assets under management (AUM) dropping by billions of dollars. With more sellers than buyers in the market, the reduced liquidity makes selling harder for many crypto assets, further adding to the downward price pressures. Market sentiment quickly becomes contagious as negativity spreads from institutions to retail investors. When this happens, even the strongest growth streaks can be terminated as excitable bull runs halt. ETP outflow indicators Knowing the key indicators can help provide early warning signals for investors looking to anticipate big market moves. The concentration of flows in specific products and understanding regional discrepancies can create targeted monitoring to spot investment opportunities. Indicators favored by investors include:Volume: Unusual spikes in ETP trading volumes usually precede large outflow events. Typically, this spike can signal something important about investor sentiment or market conditions. For instance, a large uptick in volume may indicate that investors are preparing for or responding to news, market movements or shifts in sentiment.Premium/discount shifts: Premiums and discounts refer to the difference between the price at which an ETP is trading in the market and its actual net asset value (NAV), which is the value of the assets held. Shifts in premium/discount can give insight into market sentiment or potential future price movements. For instance, if an ETP that usually trades at a premium suddenly starts trading at a discount, it could signal waning investor confidence in the underlying assets or broader market concerns.Leading product indicators: Leading product indicators are products or assets that tend to signal broader market trends. For example, a movement in the BlackRock iShares Bitcoin Trust (IBIT), a dominant Bitcoin ETF, can indicate growing institutional interest in Bitcoin, which may signal future market growth. These products often lead the way for similar assets or broader market sectors. The performance of industry-leading products is closely monitored by investors, as their price fluctuations can act as a barometer for upcoming trends in both crypto and traditional markets, helping predict broader market shifts.Institutional holdings reports: Institutional holdings refer to the positions held by large investment entities like mutual funds, pension funds and hedge funds. These firms often hold large quantities of assets or securities, and their decisions can have a significant impact on the market. A change in major institutional positions could indicate a shift in how these large players view the market or specific assets. For example, if a large institutional investor starts reducing its position in a particular stock or ETP, it might signal that the investor believes the asset’s price is going to decrease or that they are adjusting their portfolio based on broader economic factors.Flow momentum indicators: Flow momentum indicators track the rate at which capital flows in or out of a market or asset. An acceleration in outflows typically signals panic or growing market uncertainty as investors rush to withdraw funds. Conversely, the deceleration of outflows suggests a stabilization in sentiment, as fears may subside or investors look to reenter the market. Monitoring these indicators helps investors assess the intensity of market sentiment over short (days/weeks) and medium (months) terms, offering insights into whether the market is facing a temporary dip or a more prolonged downturn.Regional flow discrepancies: Regional flow discrepancies refer to the varying capital outflow patterns across different geographic regions. During market sell-offs, US-based investors often lead the way in pulling funds out of the market due to their significant market share and risk appetite. This can result in more substantial outflows in US markets compared to other regions. However, these discrepancies can also present opportunities for international investors, especially when one region shows resilience while others are panicking. Tracking regional trends is crucial for understanding the global dynamics that drive market movements and investor sentiment.Cross-asset correlations: Cross-asset correlations examine how different asset classes, like cryptocurrencies and traditional financial markets, move in relation to one another. Typically, high-risk assets like Bitcoin often show a correlation with tech stocks or other volatile assets. When traditional markets experience turbulence, such as a downturn in equities, crypto markets may also dip as investors seek safety. Conversely, during periods of growth in traditional markets, cryptocurrencies might see inflows as investors look for higher returns. Understanding these correlations enables investors to make more informed decisions by anticipating how crypto markets will react to broader economic conditions. Crypto ETP inflows and outflows: 2024–Q1 2025 trends and insights In 2024, crypto ETPs saw record inflows of $44.2 billion, led by Bitcoin and Ether products, despite minor year-end outflows. However, 2025 experienced a sharp reversal, with significant outflows starting in February, resulting in $2.55 billion in net inflows by March 10.Here are the key highlights of 2024–2025 crypto ETP flows:2024 net inflows: According to CoinShares, the total net inflows for 2024 reached $44.2 billion, a 320% increase from the previous record of $10.5 billion set in 2021.Bitcoin ETPs inflows: Bitcoin ETPs alone saw $38 billion in inflows, accounting for 29% of Bitcoin’s total AUM of $130 billion.Ether ETPs inflows: Ether-based ETPs also performed well, with late 2024 momentum pushing annual inflows to $4.8 billion, representing 26% of ETH’s $18.6 billion AUM.Minor outflows in 2024: Despite the overall positive net inflows, there were periods of outflows, notably in the last trading week of 2024, which saw $75 million in net outflows, as reported on Jan. 6, 2025.Overall positive net inflows in 2024: These outflows were minor compared to the year’s inflows, and overall, 2024 had no significant net outflows, with the net flow being positive at $44.2 billion.Strong start to 2025: The year 2025 started strongly, with the first three days of January 2025 seeing $585 million in inflows.2025 net inflows by Feb. 10: By Feb. 10, 2025, year-to-date net inflows reached $7.3 billion, with five consecutive weeks of inflows, including a notable week ending Feb. 10 with $1.3 billion in inflows, where Ether ETPs saw $793 million in inflows, outpacing Bitcoin.Reversal of inflows starting Feb. 17, 2025: However, there was a sharp reversal starting from the week ending Feb. 17, 2025, with the first significant weekly net outflows of $415 million, according to CoinShares.End of 19-week inflow streak: This marked the end of a 19-week inflow streak post-US election, amassing $29.4 billion, far surpassing the $16 billion in the first 19 weeks of US spot ETF launches in 2024.Continued outflows in late Feb. 2025: The outflows continued, with the week ending Feb. 24, 2025, seeing $508 million in Bitcoin outflows, and the week ending March 3, 2025, recording the largest weekly outflows on record at $2.9 billion, bringing the three-week total to $3.8 billion.March 2025 outflows: The week ending March 10, 2025, saw another $876 million in outflows, bringing the total outflows over these four weeks to $4.75 billion. Starting the week of March 17, cryptocurrency ETPs saw liquidations accelerate, with $1.7 billion in outflows recorded. This brought the total outflows over the past five weeks to $6.4 billion, according to CoinShares’ report. Crypto ETP inflows surge; AUM declines (as of March 31): Global crypto ETPs saw $226 million in inflows for the week ending March 30, following $644 million the week before. Despite this two-week positive trend after a five-week outflow streak, total AUM dropped below $134 million by March 28. Altcoins recorded $33 million in inflows after four weeks of outflows totaling $1.7 billion. Future of crypto ETPs Despite worryingly large outflow events in 2025, the continuing growth in new ETP varieties hitting the market indicates a continued financial interest in the space.Especially considering the longer-term growth trend of crypto AUM, the future of crypto ETPs as a strong investment vehicle and market driver is strong. Large outflows can be concerning for investors in the short term, but even severe pullbacks of 20%–30% can be recovered during a larger market cycle. In fact, many investors believe these pullbacks are healthy during periods of growth as investors take profits and consolidate market positions.Regulatory evolution appears positive, particularly in the US, with President Donald Trump being pro-crypto. He’s even signed executive orders to try and improve approaches to crypto regulation and form a Strategic Bitcoin Reserve and digital asset stockpile. New crypto ETPs are frequently being filed by financial institutions eager to broaden their offerings for investors. In addition to Bitcoin and Ether products, Solana and XRP ETPs have gained significant attention following their approval and launch. These new products have even seen inflows despite downturns in Bitcoin and Ether ETPs.As the crypto market continues to evolve, the launch of new ETPs is likely to drive further innovation and attract a broader range of investors. With increasing regulatory clarity and growing institutional interest, future offerings may expand to include other promising cryptocurrencies. As a result, you can expect continued diversification in the crypto ETP space, with potential for increased inflows and new market opportunities, even amid fluctuations in established assets like BTC and ETH.
https://cointelegraph.com/explained/crypto-etp-outflows-explained-what-investors-need-to-know

2025-04-01 03:09:05

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The founder of the recently hacked decentralized finance protocol SIR.trading has made an emotional plea to the attacker, asking them to return around 70% of the stolen customer funds otherwise, the protocol will not survive.“Here is my proposal, keep $100k as a fair share for your critical bug find, and return the remaining,” SIR.trading’s pseudonymous founder “Xatarrer” wrote in a March 31 onchain message to the attacker following the $355,000 hack on March 30.“We’ll call it even. No legal games, no drama,” they added. Xatarrer said that SIR.trading was built on the back of four years of late-night coding and $70,000 from friends and believers without any additional venture capital funding.“We grew to $400k TVL organically without any advertising. If you keep 100% of the funds, there is no chance for us to survive.”Xatarrer even praised the hacker for the sophisticated hack, stating that it was “almost beautiful if it wasn’t for all the funds people lost.”Source: SIR.tradingThe hacker hasn’t responded and has already transferred the stolen funds through to Ethereum privacy solution Railgun, according to data from Ethereum block explorer Etherscan.Xatarrer initially said on March 30 that the SIR.trading team intended to keep the protocol up and running despite the setback. “We’ve already started planning our next steps. Those impacted by the hack will not be forgotten,” it said on March 31.Hack resulted from feature added to Ethereum’s Dencun upgradeThe hacker targeted a callback function used in the protocol’s “vulnerable contract Vault” which leverages Ethereum’s transient storage feature. The hacker managed to replace the real Uniswap pool address used in this callback function with an address under the hacker’s control, allowing them to redirect the funds in the vault to their address by repeatedly calling the callback function until all of the protocol’s total value locked was drained.The transient storage feature was added to Ethereum in the March 2024 Dencun upgrade as a solution to offer users lower gas fees than gas typically required for regular storage.Related: DeFi hacks drop 40% in 2024, CeFi breaches surge to $694M — HackenSIR.trading’s documentation shows that it was billed as “a new DeFi protocol for safer leverage” to address some of the challenges that often occur in leveraged trading — such as volatility decay and liquidation risks.It comes as crypto lost to exploits and scams fell to $28.8M in March, blockchain security firm CertiK said in a March 31 X post. Around $4.8 million was subtracted from that figure after hackers involved in the 1inch Resolver incident returned the stolen funds.Crypto exploits and scams had one of its worst months in February, headlined by the $1.4 billion Bybit hack.Magazine: Should crypto projects ever negotiate with hackers? Probably
https://cointelegraph.com/news/sir-trading-founder-begs-hacker-return-funds-or-wont-survive

2025-03-31 19:48:33

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Bitcoin (BTC) price dipped below its ascending channel pattern over the weekend, dropping to $81,222 on March 31. The top cryptocurrency is set to register its worst quarterly return since 2018, but a group of whale entities are mirroring a 2020-era bull run signal. Bitcoin 1-day chart. Source: Cointelegraph/TradingViewIn a recent quick take post, onchain analyst Mignolet explained that “market-leading” whale addresses holding between 1,000 to 10,000 BTC exhibited a high correlation with Bitcoin price. The analyst said that these entities are resilient to market volatility and show accumulation behavior, mirroring patterns of the 2020 bull cycle.Bitcoin whale accumulation analysis. Source: CryptoQuantIn the current bull market, this distinct pattern emerged three times and is marked by Bitcoin whales’ rapid BTC accumulation, even as retail investors doubted a positive directional bias. These periods were riddled with bearish market sentiment and preceded substantial price surges, suggesting that whales were positioning themselves ahead of the recovery. While BTC currently exhibited a price decline, the analyst said, “There are no signs yet that the market-leading whales are exiting.”As shown in the chart above, “Pattern No. 3” witnessed a similar rate of accumulation, but BTC price remained sideways. Related: Bitcoin trader issues’ overbought' warning as BTC price eyes $84KCan Bitcoin flip $84,000 after the CME gap?As the New York trading session started on March 31, BTC rallied to close the CME futures gap that formed over the weekend. The CME gap highlights the difference between the closing price of the BTC futures on Friday and the opening price on Sunday evening. Bitcoin CME gap analysis. Source: Cointelegraph/TradingViewWhile Bitcoin started this week out on a bullish tip, there are a handful of US economic events that could have an impact on the price. April. 1, JOLTS Job Openings: A metric reflecting labor market demand; a decline might signal weakness.April 2, US tariff rollout: termed “Liberation Day,” with 20% and larger tariffs coming on for up to 25 countries. April 4, Non-farm payrolls (NFP), Unemployment rate and Federal Reserve Chair Jerome Powell’s speech.Bitcoin 4-hour chart. Source: Cointelegraph/TradingViewBTC’s immediate point of interest is to flip the $84,000 level into support for a bullish continuation. Reclaiming $84,000 could push BTC prices above the 50-day exponential moving average, which might bolster a short-term rally to the supply zone between $86,700 and $88,700. On the contrary, prolonged consolidation under $84,000 strengthens its resistance characteristics, which might eventually lead to further corrections to downside liquidity areas in the $78,200 to $76,560 zone. Related: Bitcoin’s ‘digital gold’ claim challenged as traders move into bonds and gold hits new highsThis article does not contain investment advice or recommendations. Every investment and trading move involves risk, and readers should conduct their own research when making a decision.
https://cointelegraph.com/news/bitcoin-whale-accumulation-trend-mirrors-2020-era-bullish-activity-after-btc-price-bounces-off-81-k

2025-03-31 19:48:07

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Bitcoin (BTC) price dipped below its ascending channel pattern over the weekend, dropping to $81,222 on March 31. The top cryptocurrency is set to register its worst quarterly return since 2018, but a group of whale entities are mirroring a 2020-era bull run signal. Bitcoin 1-day chart. Source: Cointelegraph/TradingViewIn a recent quick take post, onchain analyst Mignolet explained that “market-leading” whale addresses holding between 1,000 to 10,000 BTC exhibited a high correlation with Bitcoin price. The analyst said that these entities are resilient to market volatility and show accumulation behavior, mirroring patterns of the 2020 bull cycle.Bitcoin whale accumulation analysis. Source: CryptoQuantIn the current bull market, this distinct pattern emerged three times and is marked by Bitcoin whales’ rapid BTC accumulation, even as retail investors doubted a positive directional bias. These periods were riddled with bearish market sentiment and preceded substantial price surges, suggesting that whales were positioning themselves ahead of the recovery. While BTC currently exhibited a price decline, the analyst said, “There are no signs yet that the market-leading whales are exiting.”As shown in the chart above, “Pattern No. 3” witnessed a similar rate of accumulation, but BTC price remained sideways. Related: Bitcoin trader issues’ overbought' warning as BTC price eyes $84KCan Bitcoin flip $84,000 after the CME gap?As the New York trading session started on March 31, BTC rallied to close the CME futures gap that formed over the weekend. The CME gap highlights the difference between the closing price of the BTC futures on Friday and the opening price on Sunday evening. Bitcoin CME gap analysis. Source: Cointelegraph/TradingViewWhile Bitcoin started this week out on a bullish tip, there are a handful of US economic events that could have an impact on the price. April. 1, JOLTS Job Openings: A metric reflecting labor market demand; a decline might signal weakness.April 2, US tariff rollout: termed “Liberation Day,” with 20% and larger tariffs coming on for up to 25 countries. April 4, Non-farm payrolls (NFP), Unemployment rate and Federal Reserve Chair Jerome Powell’s speech.Bitcoin 4-hour chart. Source: Cointelegraph/TradingViewBTC’s immediate point of interest is to flip the $84,000 level into support for a bullish continuation. Reclaiming $84,000 could push BTC prices above the 50-day exponential moving average, which might bolster a short-term rally to the supply zone between $86,700 and $88,700. On the contrary, prolonged consolidation under $84,000 strengthens its resistance characteristics, which might eventually lead to further corrections to downside liquidity areas in the $78,200 to $76,560 zone. Related: Bitcoin’s ‘digital gold’ claim challenged as traders move into bonds and gold hits new highsThis article does not contain investment advice or recommendations. Every investment and trading move involves risk, and readers should conduct their own research when making a decision.
https://cointelegraph.com/news/bitcoin-whale-accumulation-trend-mirrors-2020-era-bullish-activity-after-btc-price-bounces-off-81-k

2025-03-31 18:09:53

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On March 19, Ripple CEO Brad Garlinghouse announced that the company had been cleared by the US Securities and Exchange Commission regarding an alleged $1.3 billion unregistered securities offering. Following the news, XRP (XRP) surged to $2.59, but the gains gradually faded as the cryptocurrency experienced a 22% correction, dropping to $2.02 by March 31.Investors worry that a deeper price correction is imminent, as XRP is trading 39% below its all-time high of $3.40 from Jan. 16. Additionally, XRP perpetual futures (inverse swaps) indicate strong demand for leveraged bearish bets. Demand for bearish bets increased amid XRP’s declineThe funding rate turns positive when longs (buyers) seek more leverage and negative when demand for shorts (sellers) dominates. In neutral markets, it typically fluctuates between 0.1% and 0.3% per seven days to offset exchange risks and capital costs. Conversely, negative funding rates are considered strong bearish signals.XRP futures 8-hour funding rate. Source: Laevitas.chCurrently, the XRP funding rate stands at -0.14% per eight hours, translating to a 0.3% weekly cost. This indicates that bearish traders are paying for leverage, reflecting weak investor confidence in XRP. However, traders should also assess XRP margin demand to determine whether the bearish sentiment extends beyond futures markets.Unlike derivative contracts, which always require both a buyer and a seller, margin markets let traders borrow stablecoins to buy spot XRP. Likewise, bearish traders can borrow XRP to open short positions, anticipating a price drop.XRP margin long-to-short ratio at OKX. Source: OKXThe XRP long-to-short margin ratio at OKX stands at 2x in favor of longs (buyers), near its lowest level in over six months. Historically, extreme confidence has pushed this metric above 40x, while readings below 5x favoring longs are typically seen as bearish signals.President Trump boosted XRP awareness, paving the way for future price gainsBoth XRP derivatives and margin markets signal bearish momentum, even as the cryptocurrency gains mainstream media attention. Notably, on March 2, US President Donald Trump mentioned XRP, along with Solana (SOL) and Cardano (ADA), as potential candidates for the country’s digital asset strategic reserves.Google search trends for XRP and BTC. Source: GoogleTrends / CointelegraphFor a brief period, Google search trends for XRP outpaced those of BTC between March 2 and March 3. A similar spike occurred on March 19 following Ripple CEO Garlinghouse’s comments on the anticipated SEC ruling. As the third-largest cryptocurrency by market capitalization (excluding stablecoins), XRP benefits from its early adoption and high liquidity.Related: Is XRP price around $2 an opportunity or the bull market's end? Analysts weigh inInteractive Brokers, a global traditional finance brokerage, announced on March 26 its expansion of cryptocurrency offerings to include SOL, ADA, XRP, and Dogecoin (DOGE). Since 2021, the platform has supported trading in Bitcoin (BTC), Ether (ETH), Litecoin (LTC), and Bitcoin Cash (BCH) pairs.The wider adoption by traditional intermediaries, combined with rising Google search trends, further reinforces XRP’s position as a leading altcoin. It also sets the stage for increased inflows once macroeconomic conditions improve and retail investors actively seek altcoins with strong marketing appeal as alternatives to traditional finance, such as Ripple.This article is for general information purposes and is not intended to be and should not be taken as legal or investment advice. The views, thoughts, and opinions expressed here are the author’s alone and do not necessarily reflect or represent the views and opinions of Cointelegraph.
https://cointelegraph.com/news/xrp-funding-rate-flips-negative-will-smart-traders-flip-long-or-short

2025-03-31 10:19:05

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Key takeawaysUS crypto investors must file their 2024 tax returns by April 15, 2025, ensuring all crypto transactions are accurately reported to the IRS.Crypto held for less than a year is taxed as ordinary income (10%-37%), while holdings over a year qualify for lower capital gains rates (0%, 15%, or 20%).Selling, trading, or spending crypto triggers taxes, while holding or transferring between wallets does not.Mining, staking, airdrops, and crypto payments are taxed as income at applicable rates.The world of cryptocurrencies can indeed be an exciting space for investors, but as the tax season approaches, many US investors find themselves grappling with confusion and uncertainty. With the upcoming tax filing deadline of April 15, 2025, it’s a critical time to get a handle on crypto tax obligations. Ask most US crypto investors, and they’ll likely tell you that figuring out what transactions trigger a taxable event feels like navigating a maze.Understanding various aspects of tax filing is crucial for accurately filing taxes, avoiding penalties and staying compliant with the Internal Revenue Service (IRS). This article breaks down key elements like tax brackets, rates, exemptions and other critical details. How does the IRS tax crypto?The Internal Revenue Service, the agency responsible for collecting US federal taxes, treats cryptocurrencies as property for tax purposes. You pay taxes on gains realized when selling, trading or disposing of cryptocurrencies. For short-term capital gains (held less than a year), you pay taxes at the rates of 10%–37%, depending on your income bracket. Long-term capital gains (assets held for over a year) benefit from reduced rates of 0%, 15% or 20%, also based on your taxable income.When you dispose of cryptocurrency for more than its purchase price, you generate a capital gain. Conversely, selling below the purchase price results in a capital loss. You must report both your capital gains and losses for the year in which the transaction occurs, with gains being taxable and losses potentially offsetting gains to reduce your tax liability. With the upcoming April 15, 2025, deadline for filing 2024 tax returns, US crypto investors need to ensure these transactions are accurately tracked and reported.To illustrate, suppose you purchased Ether (ETH) worth $1,000 in 2023 and sold it after a year in 2024 for $1,200, netting a $200 profit. The IRS would tax that $200 as a long-term capital gain, applying the appropriate rate based on your 2024 income.Taxes are categorized as capital gains tax or income tax, depending on the type of transactions:Capital gains tax: Applies to selling crypto, using crypto to purchase goods or services, or trading one cryptocurrency for another.Income tax: Applies to crypto earned through mining, staking, receiving it as payment for work, or referral bonuses from exchanges.These distinctions are crucial for accurate reporting by the April 15 deadline. Gains are taxed, while losses can help offset taxable income, so detailed record-keeping is a must.Did you know? In Australia, gifting cryptocurrency triggers a capital gains tax (CGT) event. The giver may need to report gains or losses based on the asset’s market value at the time of transfer, though certain gifts — like those between spouses — may qualify for exemptions. While this differs from US rules, it highlights how crypto taxation varies globally.How crypto tax rates work in the USIn the US, your crypto tax rate depends on your income and how long you’ve held the cryptocurrency. Long-term capital gains tax rates range from 0% to 20%, and short-term rates align with ordinary income tax rates of 10%–37%. Transferring crypto between your own wallets or selling it at a loss doesn’t trigger a tax liability.You only owe taxes when you sell your crypto, whether for cash or for any other cryptocurrency. Consider this example: Suppose you bought crypto for $1,000 in 2024, and by 2025, its value rose to $2,000. If you don’t sell, no tax is due — unrealized gains aren’t taxable.If you sell cryptocurrency after holding it for a year or less, your profits are subject to short-term capital gains tax. These gains are taxed as ordinary income, meaning they are added to your total taxable earnings for the year. Tax rates are progressive, based on income brackets, so different portions of your income are taxed at different rates. For instance, a single filer in 2025 pays 10% on the first $11,000 of taxable income and 12% on income up to $44,725. Short-term rates are higher than long-term rates, so timing your sales can significantly impact your tax bill.Understanding crypto capital gains tax in the USIf you sell cryptocurrency after holding it for a year or less, your profits are subject to short-term capital gains tax. These gains are treated as ordinary income and added to your total taxable earnings for the year. Since tax rates are based on income brackets, different portions of your earnings are taxed at different rates, as explained above. 2024–2025 federal income tax brackets for crypto earningsHere are the federal income tax rates for the 2024–2025 tax year. You apply the 2024 tax brackets to income earned in the 2024 calendar year, reported on tax returns filed in 2025.Long-term capital gains tax for crypto earned in 2024You pay long-term capital gains tax if you sell cryptocurrency after holding it for more than a year. Unlike short-term gains, these aren’t taxed as ordinary income. Instead, tax rates are based on your total taxable income and filing status. Long-term capital gains tax rates are 0%, 15% or 20%, making them lower than short-term rates. Holding crypto longer can reduce your tax burden significantly.Here is a table outlining long-term crypto capital gains tax for the calendar year 2024. These rates are applicable when filing tax returns in 2025.2024–2025 standard deduction: Reduce your crypto taxable incomeThe standard deduction is the portion of your income that’s exempt from federal taxes before tax rates are applied, reducing your taxable income.Here is a table regarding tax deductions in the calendar year 2024. These amounts are applicable when filing for tax returns in 2025.How are crypto airdrops taxed in the US?In the US, crypto airdrops are treated as ordinary income by the IRS and taxed at the time they come under the taxpayer’s full control. The taxable amount is based on the tokens’ fair market value at that moment, even if the taxpayer didn’t request them. Later, selling or trading those tokens may trigger capital gains tax, depending on the price difference between receipt and disposal.The taxable event hinges on control: If tokens automatically appear in a taxpayer’s wallet, the income is typically recognized upon arrival. If the tokens require manual claiming (e.g., through a transaction), the taxable event occurs when the claim is completed. Either way, the fair market value at that point determines the income reported.When the taxpayer sells or trades the airdropped tokens, they incur a capital gain or loss, calculated as the difference between the value at receipt (the basis) and the value at sale or trade. Moreover, the holding periods matter: If sold within a year, gains are taxed at ordinary income rates (10%–37%, based on income brackets). If held longer than a year, gains qualify for lower long-term capital gains rates (0%, 15% or 20%, depending on income). Proper tracking of receipt dates and values is essential for accurate tax reporting.Crypto gifting rules and tax implications in the USIn the US, gifting cryptocurrency is generally not a taxable event for either the giver or the recipient, meaning no immediate tax is owed. However, specific thresholds and reporting requirements must be followed to stay compliant with IRS rules. For the 2024 tax year (filed by April 15, 2025), if the total value of crypto gifts to a single recipient exceeds $18,000, the giver must file a gift tax return using Form 709. When the recipient eventually sells the gifted cryptocurrency, they’ll calculate capital gains or losses based on the giver’s original cost basis — the price the giver paid for the crypto. If this cost basis isn’t documented or available, the recipient may need to assume a basis of $0, which could increase their taxable gain upon sale. To avoid complications, both parties should keep detailed records of the gift’s fair market value at the time of transfer and the giver’s original cost basis.Did you know? In the UK, giving cryptocurrency as a gift may result in capital gains tax for the giver, except for gifts to spouses or civil partners. Additionally, inheritance tax could apply if the giver dies within seven years of the gift.Essential forms for filing crypto taxes in 2024With the April 15, 2025, deadline nearing, here are the key forms for reporting 2024 crypto transactions:Form 8949: For reporting capital gains and losses from crypto sales, trades and disposals. Each transaction must be listed individually.Schedule D (Form 1040): Summarizes total capital gains and losses from Form 8949; used for calculating taxable income.Schedule 1 (Form 1040): Reports additional income, including staking rewards, airdrops and hard forks, if classified as taxable income.Schedule C (Form 1040): Used by self-employed individuals or businesses to report crypto-related income from mining, consulting or freelance work.Form 1099-MISC: Issued for staking, mining or payment income over $600Form 1040: The main return form to combine income, deductions and tax liability.FBAR (FinCEN Form 114): File separately if foreign crypto accounts exceeded $10,000 in 2024.Step-by-step guide to filing crypto taxes for the 2024–2025 tax seasonHere’s how to file, step by step, leveraging the detailed tax rates and forms outlined above.Step 1: Gather all crypto transaction recordsCollect records for every 2024 crypto transaction:Dates of buying, selling, trading or receiving cryptoAmounts (e.g., 0.5 Bitcoin) and US dollar fair market value (FMV) at the timeCost basis (what you paid, including fees) and proceeds (what you received).To ensure complete records, pull data from wallets, exchanges (e.g., Coinbase) and blockchain explorers. Export transaction histories or CSVs, and note staking rewards, airdrops or mining income separately with their FMV on receipt.Step 2: Identify taxable eventsPinpoint which 2024 actions trigger taxes:Taxable: Selling crypto for cash/stablecoins, trading crypto, spending crypto or earning it (mining, staking, airdrops).Non-taxable: Buying and holding with USD, moving crypto between your wallets, gifting up to $18,000 per recipient.Classify each taxable event as short-term (≤1 year) or long-term (>1 year) for rate purposes.Step 3: Calculate capital gains and lossesFor taxable sales or trades:Formula: Proceeds (FMV at disposal) - Cost Basis = Gain/LossExample: Bought 1 Ether (ETH) for $2,000 in May 2024, sold for $2,500 in November 2024 = $500 short-term gain.Use first-in, first-out or specific identification for cost basis (be consistent). Sum your net gains/losses. See the “2024 Federal Income Tax Brackets” section for how these are taxed.Step 4: Calculate crypto incomeFor earnings (mining, staking, airdrops):Record FMV in USD when received (e.g., 10 Cardano worth $5 on June 1, 2024 = $5 income).Add to your other 2024 income to set your tax bracket, detailed in the sections above.Step 5: Apply the 2024 standard deductionLower your taxable income with the standard deduction:Single: $14,600Married filing jointly: $29,200Head of household: $21,900Subtract this from total income (including short-term gains and crypto income). Long-term gains are taxed separately.Step 6: Determine your tax ratesApply rates to your gains and income (refer to “How Crypto Tax Rates Work in 2024”):Short-term gains and income: Ordinary rates (10%–37%).Long-term gains: 0%, 15% or 20%, based on income.Offset gains with losses (up to $3,000 net loss against other income; carry forward excess).Step 7: Complete the necessary tax formsFill out the required IRS forms (see “Essential Forms for Filing Crypto Taxes in 2024”):List capital gains/losses and income on Form 8949, Schedule D and Schedule 1 as applicable.Use Schedule C if self-employed (e.g., mining business).Combine everything on Form 1040.Check Form 1099-MISC if received and file FBAR for foreign accounts over $10,000.Step 8: File your return by April 15, 2025Submit via IRS e-file or mail, postmarked by April 15, 2025. Need more time? File Form 4868 for an extension to Oct. 15, 2025, but pay estimated taxes by April 15 to avoid penalties.Step 9: Pay any taxes owedEstimate your tax from Step 6, then pay via IRS Direct Pay or check. Late payments after April 15 incur a 0.5% monthly penalty plus interest.Step 10: Keep records for auditsStore transaction records and forms for three to six years. The IRS is intensifying crypto scrutiny — be prepared.Did you know? In Canada, giving cryptocurrency as a gift is generally considered a taxable disposition, requiring the giver to determine and report any capital gains or losses.Important dates and deadlines for 2024–2025 tax season and beyond Here are important dates regarding the 2024–2025 tax season and 2025 transition:2024 tax seasonJan. 31, 2025: Some exchanges may issue voluntary 1099s (e.g., 1099-MISC).April 15, 2025: File taxes on crypto earned in 2024.2025 transitionJan. 1, 2025: Form 1099-DA reporting begins.Dec. 31, 2025: Safe harbor ends for adjusting universal cost basis.Jan. 31, 2026: Receive Form 1099-DA for 2025 trades.Quarterly estimatesJune 15, Sept. 15, 2025, etc., for active traders.New IRS crypto tax rules for 2025: What you need to knowThe IRS introduced new rules for tax filing and reporting aimed at US cryptocurrency taxpayers, but these regulations have encountered significant pushback. Both the US Senate and House of Representatives voted to repeal them under the Congressional Review Act (CRA), and President Donald Trump has signaled support for the rollback. Despite this uncertainty, understanding these rules remains crucial, especially with deadlines looming in 2025.A core component of the new rules is calculating taxes using a cost basis — the original amount invested in an asset, including fees or commissions. Accurately tracking cost basis is vital for proper tax reporting and prevents double taxation on reinvested earnings. It’s the starting point for determining capital gains or losses. Under the updated IRS guidelines, crypto investors must now track the cost basis (original purchase price) separately for each account or wallet, moving away from a universal tracking approach. This requires recording the purchase date, acquisition cost and specific transaction details.The rules also mandate specific identification for every digital asset sale, requiring taxpayers to report the exact purchase date, quantity and cost of the assets sold. If this information isn’t provided, the IRS defaults to the first-in, first-out (FIFO) method — selling your earliest coins first — which could inflate taxable gains if those initial purchases had lower costs. For taxpayers previously using a universal cost basis method, the IRS requires reallocating their basis across all accounts or wallets accurately by Dec. 31, 2025, to comply with these standards.Form 1099-DA: What to expect for crypto taxes in 2025–2026As of March 27, 2025, Form 1099-DA is set to become a pivotal tool for the 2025–2026 tax season, simplifying how cryptocurrency transactions are reported in the US. This new form, tailored specifically for digital assets, will be issued by exchanges to both taxpayers and the IRS, providing a detailed breakdown of activities like sales, trades and other taxable crypto events from 2025. It’s designed to streamline compliance and bolster IRS oversight, reflecting the agency’s growing focus on tracking digital asset income. For taxpayers, it promises easier, more accurate reporting, while exchanges take on a larger role in tax documentation. For the 2024 tax year — due by April 15, 2025 — this form isn’t yet available; filers must still rely on existing forms like Form 1099-MISC until Form 1099-DA officially takes effect for 2025 earnings.IRS crypto tax penalties: What happens if you don’t report or under-report in 2024?US taxpayers who fail to meet their tax obligations may face penalties from the IRS. When tax obligations go unmet, the IRS sends a notice or letter detailing the penalty, its reason (e.g., late filing, non-payment or inaccurate reporting) and your next steps. Penalties vary: Late filing or non-payment can incur fines up to 25% of the unpaid tax, plus interest that accrues until settled. Other triggers — like bounced checks or fraudulent claims — add further costs, and the IRS may launch an audit to scrutinize your filings.Individuals may face penalties of up to $100,000 and criminal sanctions, including imprisonment for up to five years. Corporations can be fined up to $500,000.These stakes are high, especially as the IRS ramps up crypto enforcement in 2024. To dodge these consequences, double-check any notice for accuracy and act fast: Request a filing extension with Form 4868 if needed (due by April 15, 2025), arrange a payment plan for unaffordable penalties, or dispute the penalty if you believe it’s unjustified. Prompt action can save you from escalating costs and legal headaches.
https://cointelegraph.com/news/how-to-file-crypto-taxes-in-the-us

2025-03-30 15:07:51

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Opinion by: Maksym Sakharov, co-founder and group CEO of WeFi The current markets are experiencing tailwinds as a result of the tariffs imposed by the US administration and retaliatory measures from trading partners. So far, however, market proponents say that Trump’s tariffs are primarily a negotiation strategy, and their effect on businesses and consumers will remain manageable.Market uncertainty drives institutional interest Adding to the uncertainty are the inflationary pressures that could challenge the US Federal Reserve’s rate-cutting outlook. Besides that, an impending fiscal debate in Washington over the federal budget is also causing jitters in the market. Resolving the debt ceiling remains a pressing issue, as the Treasury currently relies upon “extraordinary measures” to meet US financial obligations. The exact timeline for when these measures will be exhausted is unclear, but analysts anticipate they may run out after the first quarter. While the administration has proposed eliminating the debt ceiling, this could face resistance from fiscal conservatives in Congress. According to a recent report, one sector experiencing steady growth is stablecoins despite this macroeconomic uncertainty. Much of the volume is driven by flows in Tether’s USDt (USDT) and USDC (USDC). Dollar-pegged stablecoins dominate the market Stablecoins started as an experiment — a programmable digital currency that would make it easier for users to enter the crypto market and trade different digital assets. A decade later, they are a critical part of the broader digital financial infrastructure.The stablecoin market cap currently stands at a record $226 billion and continues to expand. Demand in emerging markets drives this growth. A recent ARK Invest report states that dollar-pegged stablecoins dominate the market. They account for over 98% of the stablecoin supply, with gold- and euro-backed stablecoins only sharing a small portion of the market.In addition to this, Tether’s USDt accounts for over 60% of the total market. ARK’s research suggests that the market will expand and include Asian currency-backed stablecoins.Recent: US will use stablecoins to ensure dollar hegemony — Scott BessentBesides that, digital assets are going through a shift marked by “stablecoinization” and “dollarization.” Asian nations like China and Japan have offloaded record amounts of US Treasurys. Saudi Arabia has ended its 45-year petrodollar agreement, and BRICS nations are increasingly bypassing the SWIFT network to reduce reliance on the US dollar. Bitcoin (BTC) and Ether (ETH) were traditionally the primary entry points into the digital asset ecosystem. Stablecoins have, however, taken the lead over the past two years, now representing 35%–50% of onchain transaction volumes.Despite global regulatory headwinds, emerging markets have been adopting stablecoins. In Brazil, 90% of crypto transactions are undertaken via stablecoins, primarily used for international purchases.A Visa report ranks Nigeria, India, Indonesia, Turkey and Brazil as the most active stablecoin markets, and Argentina ranks second in stablecoin holdings. Additionally, six out of every 10 purchases in the country were made using stablecoins pegged to the dollar, with near parity between USDC and USDT.This shift toward stablecoins in Argentina is driven by high inflation and the need to protect against the devaluation of the Argentine peso. People in countries with unstable currencies turn to stablecoins, like USDT, to safeguard their wealth. Deobanks and their role in high-risk areasStablecoins have paved the way for a new generation of financial services. For example, stablecoins have provided the foundation for decentralized onchain banks, or deobanks, that embrace stablecoins as their native currency.Deobanks make digital banking and financial services accessible to everyone, even people who do not meet strict account opening criteria. They also attract people who do not trust traditional institutions with their money. Users keep complete control of their funds through non-custodial accounts and enjoy real-time transaction transparency.Deobanks’ decentralized nature replaces intermediaries with smart contracts that connect personal wallets directly to digital bank accounts. This approach cuts costs and speeds up transactions. Onchain data transparently preserves every transaction detail. The result is a financial model that is both efficient and inclusive. What lies aheadAnalysts predict the stablecoin market cap will surpass $400 billion in 2025. Deobanks bring a new edge to this growth, using stablecoins to drive economic growth and expand digital payment networks. They open fresh avenues for cross-border commerce and new opportunities for financial inclusion. In the next few years, the combined rise of stablecoins and next-generation onchain banks will transform how money moves across borders and transactions are processed. The blockchain integration at the back end and stablecoin foundation will promote lower fees, faster payments and broader access to financial services. The trend represents a shift away from outdated systems and signals a more resilient financial ecosystem.Opinion by: Maksym Sakharov, co-founder and group CEO of WeFi .This article is for general information purposes and is not intended to be and should not be taken as legal or investment advice. The views, thoughts, and opinions expressed here are the author’s alone and do not necessarily reflect or represent the views and opinions of Cointelegraph.
https://cointelegraph.com/news/stablecoins-are-powering-deobanks

2025-03-28 20:10:42

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The Federal Deposit Insurance Corporation (FDIC) said in a March 28 letter that institutions under its oversight, including banks, can now engage in crypto-related activities without prior approval. The announcement comes as the Commodity Futures Trading Commission (CFTC) announced that digital asset derivatives wouldn’t be treated differently than any other derivatives.The FDIC letter rescinds a previous instruction under former US President Joe Biden’s administration that required institutions to notify the agency before engaging in crypto-related activities. According to the FDIC’s definition:”Crypto-related activities include, but are not limited to, acting as crypto-asset custodians; maintaining stablecoin reserves; issuing crypto and other digital assets; acting as market makers or exchange or redemption agents; participating in blockchain- and distributed ledger-based settlement or payment systems, including performing node functions; as well as related activities such as finder activities and lending.”FDIC-supervised institutions should consider associated risks when engaging in crypto-related activities, it said. These risks include market and liquidity risks, operational and cybersecurity risks, consumer protection requirements, and Anti-Money Laundering requirements.On March 25, the FDIC eliminated the “reputational risk” category from bank exams, opening a path for banks to work with digital assets. Reputational risk is a term that underscores the dangers banks face when engaging with certain industries. Related: FDIC resists transparency on Operation Chokepoint 2.0 — Coinbase CLODigital asset derivatives won’t be treated differently — CFTCWhile the US crypto derivatives market had been a gray zone due to regulatory uncertainty, that has been changing. On March 28, the CFTC withdrew a staff advisory letter to ensure that digital asset derivatives — a type of trading product — will not be treated differently from other types of derivatives. The revision is “effective immediately.”The change in tone from the CFTC and FDIC follows a new environment for crypto firms under US President Donald Trump’s administration. Trump has vowed to make the US “the crypto capital of the planet.” Crypto firms are shifting strategies to align with the easing regulatory climate. On March 10, Coinbase announced the offer of 24/7 Bitcoin (BTC) and Ether (ETH) futures. In addition, the company is reportedly planning to acquire Derebit, a crypto derivatives exchange.Kraken, another US-based cryptocurrency exchange, has also made moves in the derivatives market. On March 20, it announced the acquisition of NinjaTrader, which would allow the exchange to offer crypto futures and derivatives in the United States.Magazine: Trump’s crypto ventures raise conflict of interest, insider trading questions
https://cointelegraph.com/news/us-regulators-fdic-cftc-ease-crypto-restrictions-banks-derivatives

2025-03-28 18:09:52

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A portion of the Ethereum community is pressuring the Ethereum Foundation to make decisions that may “break the entire social fabric” of the smart contract network by restricting Ethereum's layer-2 (L2) networks, Polygon co-founder Sandeep Nailwal said.Speaking during a March 28 episode of Cointelegraph's Chain Reaction show on X, the Polygon founder said that he has only seen this type of pressure and anti-L2 rhetoric during the current market cycle amid suppressed price action for Ether (ETH).“Everybody understands that if Ethereum doesn’t survive, the layer-2s won’t survive,” Nailwal said, adding:"The Ethereum community should not pressure the developers enough — I should not be able to pressure the developers enough — for price movements and all that, they may end up making a decision that completely breaks the social fabric of Ethereum."The Polygon co-founder praised Vitalik Buterin’s leadership and his more active role in the Ethereum Foundation, saying he has been the biggest force in keeping Ethereum's ecosystem cohesive.Nailwal characterized Buterin as the “DNA" of the network that has attracted many talented developers over the years who are building layers on top of the Ethereum base layer.The total value secured across Ethereum’s scaling solutions. Source: L2BeatRelated: Getting crypto out of the ‘AOL era’ — Sandeep NailwalSettlement layers vs execution layersAccording to Nailwal, the layer-1 vs layer-2 dichotomy is the wrong way to think about blockchain networks.The Polygon founder defined only two settlement layers in all of crypto, Bitcoin and Ethereum, with all other crypto networks being execution layers.In the future, almost every application will have its own blockchain to avoid paying gas fees and will post final transactions to one of these settlement layers, Nailwal said.Ethereum's base layer will benefit from this explosion of execution layers, accruing value from these final settlements and promoting the long-term growth of the ecosystem, which will one day be seamlessly interoperable.Ethereum base layer fees drop following the Dencun upgrade. Source: The Tie TerminalCritics of Ethereum's execution layers say that the scaling networks are currently cannibalizing the base layer, which culminated in a 99% drop in Ethereum L1 revenue by September 2024.Nailwal concluded that due to these differences between settlement and execution layers, no other crypto network is real competition for Ethereum except the Bitcoin network.However, the only way the Bitcoin network could be a threat to Ethereum is if it adopted more advanced scripting options that give it reliable, smart contract functionality like Ethereum, Nailwal said.Magazine: Ethereum L2s will be interoperable ‘within months’: Complete guide
https://cointelegraph.com/news/sandeep-nailwal-preserving-social-fabric-ethereum

2025-03-28 04:11:24

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The New York Stock Exchange (NYSE) has imposed a Short Sale Restriction (SSR) on GameStop after volume spiked to levels reminiscent of GameStop’s famous 2021 short squeeze.GameStop (GME) short sales volume — the total number of shares sold short within a specific timeframe — rose 234% over 24 hours, reaching 30.85 million shares sold on March 27, according to TradingView data. The SSR kicks in when a stock drops over 10% from the previous day’s closing price. GameStop’s stock fell 22% over the trading day, wiping out its 12% gain from the Bitcoin announcement and then some, according to Google Finance data. At the time of publication, GME was trading at $22.09.GameStop shorts volume near 2021 short squeeze levelsThe rule is applied for the rest of the trading day and the following trading day. Malone Wealth president and CEO Kevin Malone said in a March 27 X post that “GameStop traded 50x more shares today than last Thursday. Not statistically possible without naked short-selling.”GameStop’s short sale volume reached 30.88 million on March 27. Source: TradingViewThe number is close to the levels reached in January 2021 when GameStop stocks famously went meteoric after a “short squeeze” of the stock, causing significant losses for hedge funds and other short sellers while some retail traders made significant returns.The highest point reached during that month was 33.26 million shares on Jan. 19.GameStop Bitcoin buy is “dot-comish”GameStop did not specify how much Bitcoin it plans to purchase, but after the markets closed on March 26, the firm announced a $1.3 billion convertible notes offering.However, some analysts and commentators have questioned GameStop’s plan to start purchasing Bitcoin. Speaking to Yahoo Finance on March 27, Tastylive founder and CEO Tom Sosnoff said that GameStop's decision to buy Bitcoin feels “a little dot-comish” to him.Source: Hans Akamatsu“It feels a little like, oh, I’m going to throw a dot com at the end of my name, I’m going to buy some Bitcoin with our excess cash because we can’t find a company that is going to be accretive,” Sosnoff said.Meanwhile, Bret Kenwell, US investment analyst at eToro, told Reuters on March 27 that “investors are not necessarily optimistic on the underlying business.”Biggest day of short sales still goes to Keith Gill’s return The biggest day of short sales still belongs to June 3, 2024, when it reached 46.20 million. This was around the time Keith Gill, a stock trader known for the GameStop short squeeze in 2021, revealed on June 2 that he had started trading GameStop stock again, this time with $180 million to play with. Related: Firms without business models ‘buy Bitcoin’ — Angel investor Jason CalacanisGameStop said the convertible senior notes — debt that can later be converted into equity — will be used for general corporate purposes, including acquiring Bitcoin.Some analysts see the convertible notes offering announcement as the reason for the stock’s decline.Han Akamatsu said in a March 27 X post that GameStop’s stock is dropping for the same reason Strategy (formerly MicroStrategy) declined after issuing convertible notes.“In 2021, MSTR issued $1.05B of 0% convertible notes, the stock dipped after the announcement due to hedging shorts, but later exploded when Bitcoin ripped and the arbitrage unspooled,” Akamatsu said, adding:“GME is following the same blueprint now ...If GME or BTC goes up a lot, the trade gets very interesting as we have a squeeze opportunity here.”Magazine: Arbitrum co-founder skeptical of move to based and native rollups: Steven GoldfederThis article does not contain investment advice or recommendations. Every investment and trading move involves risk, and readers should conduct their own research when making a decision.
https://cointelegraph.com/news/gamestop-stocks-restrictions-nyse-short-selling-volume-skyrockets

2025-03-28 02:06:14

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ChatGPT creators OpenAI have introduced rate limits after a viral social media trend that saw nearly everything “Ghiblifyied” — turned into AI art in the style of the famous Japanese animation studio. OpenAI CEO Sam Altman was one of the first to take part in the trend, posting a portrait of himself generated by the model on March 25 but said in a subsequent post two days later that all image requests have started to tax the firm’s infrastructure.“It’s super fun seeing people love images in ChatGPT but our GPUs are melting. We are going to temporarily introduce some rate limits while we work on making it more efficient,” he said.Source: Sam Altman“Also, we are refusing some generations that should be allowed; we are fixing these as fast we can,” he added.OpenAI launched the upgraded image generation offering in ChatGPT-4o on March 25, resulting in users splashing images across social media in the art style of Studio Ghibli — known for its anime films Spirited Away and My Neighbor Totoro.Altman didn’t give a definitive timeline on how long the rate limits would last but said, “Hopefully, it won’t be long! ChatGPT free tier will get three generations per day soon.”Rate limits are generally applied to help OpenAI manage the aggregate load on its infrastructure, according to OpenAI. Related: Ghibli memecoins surge as internet flooded with Studio Ghibli-style AI images“If requests to the API increase dramatically, it could tax the servers and cause performance issues. By setting rate limits, OpenAI can help maintain a smooth and consistent experience for all users,” OpenAI says on its rate limit explanation page.Along with the legions of others getting in on the trend, X and Tesla CEO Elon Musk shared an image mimicking King Mufasa from Disney’s The Lion King holding up a Shiba Inu. White House AI and crypto czar David Sacks also joined in, using the Studio Ghibli-art style on an image of himself at an event.Source: David SacksMeanwhile, Bloomberg reported on March 26 that OpenAI expects to more than triple its revenue this year to $12.7 billion, citing a person familiar with the matter.Altman said on Feb. 12 his firm wants to ship GPT-4.5 and GPT-5 in the coming weeks or months.Magazine: ‘Chernobyl’ needed to wake people to AI risks, Studio Ghibli memes: AI Eye
https://cointelegraph.com/news/sam-altman-open-ai-gpu-melting-after-studio-ghibli-tsunami

2025-03-28 00:05:20

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The US Securities and Exchange Commission has officially closed its investigation into Crypto.com, with no action taken against the crypto exchange, according to the firm’s CEO, Kris Marszalek.It comes seven months after the SEC issued a Wells notice to the crypto platform in August, signaling its intention to take legal action against the firm.”They used every tool available to attempt to stifle us, restricting access to banking, auditors, investors, and beyond. It was a calculated attempt to put an end to the industry,” Marszalek said in a March 27 X post.The SEC’s investigation into https://t.co/pFc4Pz9nFR has been closed with no action being taken against https://t.co/pFc4Pz9nFR.— Kris | Crypto.com (@kris) March 27, 2025”The fact that we not only persevered but became stronger is a testament to our vision and the community supporting it. Onwards!”Crypto.com filed a lawsuit against the SEC in October, accusing the Gary Gensler-led commission of overstepping its authority and taking a “misguided” approach to crypto regulation.This is a developing story, and further information will be added as it becomes available.
https://cointelegraph.com/news/sec-officially-closes-investigation-crypto-com

2025-03-27 13:22:43

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BlackRock’s new European Bitcoin exchange-traded product (ETP) is a major step for Bitcoin’s institutional adoption in Europe, though analysts expect lower inflows than its US counterpart.The iShares Bitcoin ETP, managed by the world’s largest asset manager, began trading on March 25 on Xetra, Euronext Amsterdam and Euronext Paris.While the launch marks a significant step in bringing Bitcoin (BTC) exposure to European investors, analysts at Bitfinex said the product is unlikely to match the success of the US-based iShares Bitcoin Trust exchange-traded fund (ETF), which has seen strong demand from institutional and retail investors.SiShares Bitcoin ETP listings. Source: BlackRock“The US spot Bitcoin ETFs benefited from pent-up institutional demand, a deep capital market and significant retail investor participation,” Bitfinex analysts told Cointelegraph, adding:“The presence of a BlackRock Bitcoin ETP in Europe still represents progress in terms of mainstream adoption, and as regulatory clarity improves, institutional interest could grow over time.”They added that although Europe’s Bitcoin ETP market may develop at a slower pace, it remains a key part of Bitcoin’s global adoption story.BlackRock, which oversees more than $11.6 trillion in assets under management, could encourage broader adoption of Bitcoin investment products in Europe and open new pathways for institutional capital to enter the crypto market.Bitcoin ETF, institutional holder growth. Source: Vetle LundeOver in the US, institutional adoption of Bitcoin ETFs surged to over 27% during the second quarter of 2024 when over 262 firms invested in Bitcoin ETFs, Cointelegraph reported on Aug. 16.Related: BlackRock increases stake in Michael Saylor’s Strategy to 5%BlackRock’s global reputation may build momentum for European Bitcoin ETP adoptionBlackRock’s global reputation and expertise may “gradually build momentum” for European Bitcoin ETPs, according to Iliya Kalchev, dispatch analyst at digital asset investment platform Nexo.“Modest inflows shouldn’t be interpreted as a failure but rather as a function of structural differences in the market,” Kalchev told Cointelegraph, adding:“Long-term success in Europe may depend less on first-week flows and more on consistent access, education and infrastructure — elements BlackRock is well-positioned to deliver.”While BlackRock’s European fund may not replicate the explosive growth of its US Bitcoin ETF, this should be “seen in context, not as a red flag,” considering the smaller European market’s limited liquidity.Related: Michael Saylor’s Strategy surpasses 500,000 Bitcoin with latest purchaseBitcoin ETF dashboard. Source: DuneBlackRock’s US spot Bitcoin ETF briefly surpassed $58 billion, making it the world’s 31st-largest ETF among both traditional and digital asset funds as US Bitcoin ETFs surpassed $126 billion in cumulative BTC holdings, Cointelegraph reported on Jan. 31.BlackRock’s ETF currently accounts for over 50.7% of the market share of all spot US Bitcoin ETFs, valued at $49 billion as of March 27, Dune data shows. Magazine: Bitcoin’s odds of June highs, SOL’s $485M outflows, and more: Hodler’s Digest, March 2 – 8
https://cointelegraph.com/news/blackrock-bitcoin-etp-eu-bitcoin-adoption-inflow

2025-03-27 12:55:23

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Paolo Ardoino, CEO of stablecoin issuer Tether, said the industry has just entered a new era, marked by an influx of stablecoin solutions from both private companies and governments.In a March 27 X thread, Ardoino said the crypto industry just entered the “stablecoin multiverse” era, where multiple stablecoins are launching to meet growing global demand.Source: Paolo AdroinoRelated: Rumble wallet rolls out with Tether’s USDT for creator paymentsNot everyone agrees with the assessmentHowever, Slava Demchuk, CEO of crypto compliance firm AMLBot, told Cointelegraph that he disagrees “with the premise that there are hundreds of stablecoins launched by companies and governments.” He said the claims are an exaggeration and highlighted that “launching a stablecoin is a complex and resource-intensive process,” made even more involved by the European Union’s Markets in Crypto-Assets Regulation (MiCA) framework:“MiCA, for instance, imposes stringent requirements — particularly prudential ones such as capital reserves, liquidity buffers, and robust governance structures — that not all companies can easily meet. “On the other hand, Demchuk noted that a growth in the number of stablecoins poses challenges and risks. He pointed out that regulatory differences across jurisdictions are an issue with MiCA providing clarity in the EU while the US market is still in debate, leading to a global “patchwork of rules.”He warned that such inconsistency risks pushing companies to less regulated markets. The consequence of such an exodus would be that consumer protection efforts would be undermined.Related: Tether seeks Big Four firm for its first full financial audit — ReportArdoino expects fast growthIn a subsequent X post, Ardoino claimed Tether currently counts 400 million users worldwide, adding that he expects that number to reach one billion soon. He attributes the quick growth to an approach different from that of players in traditional finance:“We always focused on the adoption from the ground up, working in the streets, among other people, while traditional finance was watching at us from their ivory towers.“Vasily Vidmanov, the chief operating officer of decentralized finance compliance protocol PureFi, told Cointelegraph that Ardoino’s forecast “is interesting but not entirely realistic.” He cited “the recent delisting of USDT in the EU,” noting that it “has shown that resisting regulation is futile — adaptation and new approaches to decentralization are necessary.“The comments reference Tether’s USDt (USDT) being delisted for European Economic Area-based users of Binance, Crypto.com, Kraken and Coinbase. A Tether spokesperson told Cointelegraph that the firm found the actions disappointing.Vidmanov explained that data concerning swaps between USDT and Circle’s competing USDC (USDC) “indicates a noticeable increase […] following the delisting.” He also raised concerns over the firm’s reputation and “ongoing investigations in the US related to sanctions compliance and Anti-Money Laundering.”USDT/USDC swaps number. Source: DuneUS authorities are reportedly investigating third-party use of Tether’s stablecoins for criminal activities.Ardoino already commented on those claims when they surfaced in late October 2024, calling the story “old noise.” Still, according to Vidmanov, with all those challenges, “achieving the projected figures within the next one to two years seems unlikely unless there are significant shifts in global policy and a substantial influx of new users from underpenetrated crypto markets.”Tether and Paolo Ardoino had not responded to Cointelegraph’s inquiry by publication time.Magazine: Stablecoin for cyber-scammers launches, Sony L2 drama: Asia Express
https://cointelegraph.com/news/tether-ceo-says-stablecoin-era-begins

2025-03-27 04:12:23

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A coalition of crypto firms has urged Congress to press the Department of Justice to amend an “unprecedented and overly expansive” interpretation of laws that were used to charge the developers of the crypto mixer Tornado Cash.A March 26 letter signed by 34 crypto companies and advocate groups sent to the Senate Banking Committee, House Financial Services Committee and the House and Senate judiciary committees said the DOJ’s take on unlicensed money-transmitting business means “essentially every blockchain developer could be prosecuted as a criminal.”The letter — led by the DeFi Education Fund and signed by the likes of Kraken and Coinbase — added that the Justice Department’s interpretation “creates confusion and ambiguity” and “threatens the viability of U.S.-based software development in the digital asset industry.”The group said the DOJ debuted its position “in August 2023 via criminal indictment” — the same time it charged Tornado Cash developers Roman Storm and Roman Semenov with money laundering.Storm has been released on bail, has pleaded not guilty and wants the charges dropped. Semenov, a Russian national, is at large.Source: DeFi Education FundThe DOJ has filed similar charges against Samourai Wallet co-founders Keonne Rodriguez and William Lonergan Hill, who have both pleaded not guilty.The crypto group’s letter argued that two sections of the US Code define a “money transmitting business” — Title 31 section 5330, defining who must be licensed and Title 18 section 1960, which criminalizes operating unlicensed.It added that 2019 guidance from the Treasury’s Financial Crimes Enforcement Network (FinCEN) gave examples of what money-transmitting activities and said that “if a software developer never obtains possession or control over customer funds, that developer is not operating a ‘money transmitting business.’”The letter argued that the DOJ had taken a position that the definition of a money transmitting business under section 5330 “is not relevant to determining whether someone is operating an unlicensed ‘money transmitting business’ under Section 1960” despite the “intentional similarity” in both sections and FinCEN’s guidance.Related: Hester Peirce calls for SEC rulemaking to ‘bake in’ crypto regulation The group accused the DOJ of ignoring both FinCEN’s guidance and parts of the law to pursue its own interpretation of a money-transmitting business when it charged Storm and Semenov.They said the result had seen “two separate US government agencies with conflicting interpretations of ‘money transmission’ — an unclear, unfair position for law-abiding industry participants and innovators.”The letter said that if not addressed, the Justice Department’s interpretation would expose non-custodial software developers “within the reach of the U.S. to criminal liability.”“The resulting, and very rational, fear among developers would effectively end the development of these technologies in the United States.”In January, Michael Lewellen, a fellow of the crypto advocacy group Coin Center, sued Attorney General Merrick Garland to have his planned release of non-custodial software declared legal and to block the DOJ from using money transmitting laws to prosecute him.Lewellen said the DOJ “has begun criminally prosecuting people for publishing similar cryptocurrency software,” which he claims extended the interpretation of money-transmitting laws “beyond what the Constitution allows.”Magazine: Meet lawyer Max Burwick — ‘The ambulance chaser of crypto’
https://cointelegraph.com/news/crypto-urges-congress-doj-change-money-transmitter-stance

2025-03-26 17:04:52

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Dogecoin (DOGE) price has rallied 18% over the past three days, and it is currently the best-performing crypto among the top 30 by market capitalization over the past week. Data also shows DOGE producing its highest weekly returns of 2025, a feat not seen since the final week of 2024. Dogecoin weekly chart. Source: Cointelegraph/TradingView7% of DOGE supply is clustered around $0.20According to the onchain data from Glassnode, DOGE’s unrealized price distribution (URPD) shows 7% of the DOGE supply is concentrated at $0.20. URPD is a metric that reflects the price at which coins were last moved, and it allows investors to identify resistance and support zones based on token clusters. Dogecoin URPD data by Glassnode. Source: X.comWith a significant concentration at $0.20, Glassnode implied that the price level could potentially act as a resistance level. Although, the analytics firm added, “If $0.20 is breached, there’s little Dogecoin supply until $0.31 - the next major URPD cluster. This gap raises the probability of a sharp leg higher, as there's not much resistance in between. Watch for breakout momentum if volume picks up.”A breakout push toward $0.31 highlights the potential for a substantial 55% surge from its $0.20 level, paving the way for a bullish market structure on the high time frame (HTF) chart.After $0.20, DOGE’s next resistance level lies between $0.32-$0.41, where the 3 to 6-month HODL waves reside. These HODL waves represent where investors bought DOGE in January. This might also act as a sell ceiling as some traders might look to exit their positions at break even. Related: Bitcoin price has 75% chance of hitting new highs in 2025 — AnalystDogecoin breaks through a difficult bearish trendlineOn March 24, House of Doge announced the launch of “The Official Dogecoin Reserve” with an initial purchase of 10 million DOGE tokens. The current rally occurred at the back of this news, creating a positive sentiment in the Dogecoin community. House of Doge, the newly formed corporate wing of the Dogecoin foundation, stated in a press release, “With a strategic reserve, House of Doge is laying the foundation for a payments ecosystem that ensures liquidity, stability, and reliability.”However, the foundation indicated that the purchased tokens have yet to be transferred to its holding account. House of Doge said they would provide the Reserve address on their website to uphold transparency once the transaction is complete. In light of its price breakout, Trader Tardigrade noted that Dogecoin had breached a three-month descending trendline that formed over the course of 2025. Dogecoin analysis by Trader Tardigrade. Source: X.comThis could potentially have a short-term bullish implication for DOGE price, as the token looks set for a relief rally over the next few days. Related: Solana's ‘early stage bull market’ hints at 65% SOL price gains by AprilThis article does not contain investment advice or recommendations. Every investment and trading move involves risk, and readers should conduct their own research when making a decision.
https://cointelegraph.com/news/dogecoin-doge-price-set-for-55-rally-if-this-trend-keeps-up

2025-03-26 16:10:16

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Hyperliquid is delisting perpetual futures tied to the JELLY token after identifying “evidence of suspicious market activity” involving the trading instruments, the blockchain network said. The Hyper Foundation, Hyperliquid’s ecosystem nonprofit, will reimburse most users for any losses related to the incident, Hyperliquid said in a March 26 post on the X platform.“All users apart from flagged addresses will be made whole from the Hyper Foundation,” Hyperliquid said. “This will be done automatically in the coming days based on onchain data.” Hyerliquid added that the perpetuals exchange’s primary liquidity pool, HLP, has clocked a positive net income of around $700,000 in the past 24 hours. On March 14, Hyperliquid increased margin requirements for traders after its liquidity pool lost millions of dollars during a massive Ether liquidation.Source: HyperliquidMagazine: Trump’s crypto ventures raise conflict of interest, insider trading questionsThis is a developing story, and further information will be added as it becomes available.
https://cointelegraph.com/news/hyperliquid-delists-jelly-perps-citing-suspicious-activity

2025-03-26 11:53:43

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Google Play implemented access restrictions to 17 unregistered overseas crypto exchanges catering to local users in South Korea at the request of the country’s regulators. On March 21, the Financial Intelligence Unit (FIU) of the South Korean Financial Services Commission (FSC) said it was considering sanctions against operators that did not report to the relevant authorities. Authorities require virtual asset service providers (VASPs) to report to regulators under the country’s Specified Financial Information Act. At the time, the FIU said it was coordinating with the Korea Communications Standards Commission (KCSC), the regulator in charge of the internet, on how they could block access to the exchanges. By March 26, the FSC published a list of 22 unregistered platforms, highlighting 17 that had been blocked from the Google Play store. The move restricts new downloads and updates for affected apps, effectively limiting user access.A list of 22 overseas operators, highlighting the 17 blocked exchanges. Source: FSCGoogle Play restricts access to 17 unregistered exchangesThe FSC said the 17 exchanges highlighted on the list were now restricted in the Google Play Store. This means their applications will not be available for new users to download and install. In addition, existing users will be unable to access updates from the apps. Exchanges in the access restriction list include: KuCoin, MEXC, Phemex, XT.com, Biture, CoinW, CoinEX, ZoomEX, Poloniex, BTCC, DigiFinex, Pionex, Blofin, Apex Pro, CoinCatch, WEEX and BitMart.The FSC expects the move to help prevent money laundering acts using crypto assets and potential future damages to local users. The FIU said it is also coordinating with Apple Korea and the KCSC to block internet and App Store access to the exchange platforms. KuCoin previously told Cointelegraph that it was monitoring regulatory developments in all jurisdictions, including South Korea. The exchange said compliance was essential for crypto’s sustainable growth. However, the exchange did not provide detailed information on its plans for South Korea. Related: Wemix denies cover-up amid delayed $6.2M bridge hack announcementSouth Korean exchanges face controversiesSouth Korean regulators’ actions against unregistered exchanges follow the country’s increased scrutiny of crypto trading platforms. On March 20, Seoul’s Southern District Prosecutors’ Office raided Bithumb offices in the country, as prosecutors suspected financial misconduct involving the exchange’s former CEO. Prosecutors suspected Bithumb board member Kim Dae-sik of using company funds to purchase a personal apartment. In addition, a Wu Blockchain report of intermediaries being paid to list token projects on Bithumb and Upbit surfaced. In response to the report, Upbit demanded the release of the identities of crypto projects that claimed to have paid intermediaries to be listed. Magazine: Ridiculous ‘Chinese Mint’ crypto scam, Japan dives into stablecoins: Asia Express
https://cointelegraph.com/news/google-play-blocks-17-unregistered-crypto-exchanges-south-korea

2025-03-26 11:26:35

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Zero-knowledge proof (ZK-proof)-based compliance protocol PureFi has launched its Know Your Customer (KYC) and Anti-Money Laundering (AML) integration for the Uniswap decentralized exchange (DEX).According to a recent announcement shared with Cointelegraph, PureFi claims that its ZK-proof-based KYC and AML integration for Uniswap helps address security and compliance concerns at the protocol level. While the integration can be implemented as part of any Uniswap v4 pool, it was deployed as part of the PureFi DEX Uniswap implementation, replacing standard interfaces with custom compliance routers.The new decentralized finance (DeFi) platform also introduces level-based verification that scales checks based on transaction volume. Checks go from basic identity and sanctions verification at low volumes to comprehensive KYC with risk-based wallet scoring and real-time monitoring at high volumes.Related: Know Your Peer: The pros and cons of KYCNot everyone is on boardHedi Navazan, the chief compliance officer at DEX aggregator developer 1inch Labs, told Cointelegraph that “relying on transaction volume thresholds for progressive compliance enforcement is not, in my view, the right approach.” She shared concerns that such thresholds “fail to capture the broader, more complex risk profile that DeFi and financial ecosystems demand.” She explained:“Risk assessment should be holistic, considering a variety of factors, not just a singular indicator like transaction volume.”PureFi CEO Slava Demchuk said that compliance is usually implemented on the front-end (the user interface) and not in the underlying smart contracts on the back-end. The implementation leaves protocols “vulnerable to interface bypass” by bad actors interacting with smart contracts directly. He explained the advantages of the latest PureFi implementation:“Through the Uniswap v4 hook, we address a long-standing industry-wide blind spot. DeFi needs a middle ground to preserve privacy but align with regulatory standards.”PureFi Uniswap v4 Hook Infographic. Source: PureFiSo far, the exchange is fully operational for the UFI/BNB trading pair; this implementation is meant to be a blueprint on which to build. The modular design allows offchain updates to compliance rules, centralizing the part that must be changed as regulations evolve to allow easier adaptation.Related: Abracadabra.Money’s GMX pools hacked, $13M lostDeFi’s long battle with complianceNavazan said, “in DeFi, we need a more tailored approach.” According to her, solutions developed for centralized finance are not suitable for its decentralized counterpart due to different priorities:“Mechanisms that function in centralized finance do not work in the decentralized space, which prioritizes privacy and autonomy,” she added.Navazan explained that this contrast is “a critical aspect for the crypto and DeFi compliance issue.” She raised concerns that while mixers and privacy coins are on regulators’ watchlists, the use of ZK-proofs might help:“If zero-knowledge proofs can provide compliant-friendly privacy, regulators might be more likely to allow for privacy-preserving financial instruments.”She further highlighted that regulatory adoption is “the biggest challenge so far” for DeFi, with regulators equating “financial transparency to seeing every transaction and identity.” She noted that ZK-proofs changed that model and asked if regulators would adopt proofs instead of raw data.ZK-proofs are a family of advanced cryptographic protocols that allow mathematically proving an aspect of some piece of data without revealing the underlying data. For example, they can show that an entity is not sanctioned and is allowed to use a financial service — without providing the full documentation and private data and while remaining anonymous.A correct ZK-proof implementation ensures that no additional data is leaked beyond the fact that the proven claim is valid. Those proofs are also efficient data-wise since they can be significantly smaller than the considered data, making them better suited for onchain storage if necessary, as happens with ZK-rollups.Magazine: DeFi will rise again after memecoins die down: Sasha Ivanov, X Hall of Flame
https://cointelegraph.com/news/kyc-uniswap-integration-deployed-by-pure-fi-not-everyone-is-convinced

2025-03-25 18:34:53

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Few things in crypto are as elusive and misunderstood as the concept of an “altcoin season.” Traditionally, this term referred to a brief window — usually 2–3 months — following a Bitcoin (BTC) price rally, where altcoins outperform BTC in cumulative returns. That pattern held in the 2015–2018 and 2019–2022 cycles, but the verdict is not yet in on whether the current bull market has had its altcoin season. The Blockchain Center defines an altcoin season as a period when 75% of the top 50 altcoins outperform Bitcoin over a rolling 90-day timeframe. Its Altseason Index registered upticks in March 2024 and again in January 2025 — but neither lasted long enough to qualify as a full-fledged altseason.Altcoin season index. Source: Blockchain CenterSome analysts argue that memecoins drained liquidity from the broader altcoin market. Others blame the oversaturation of crypto investment products — particularly ETFs — which cater to institutions and spotlight only the largest altcoins. A third explanation calls for a deeper rethink of what altcoins actually are. Within this view, altcoins are perceived as a unified asset class but are a diverse collection of crypto assets with different functions, value structures, and growth potential.Memecoins stole the spotlightFor the crypto analyst Miles Deutscher, the launch of Pump.fun is directly correlated to the destruction of the altcoin market vs BTC.“The reason we’ve seen no major “altseason” across majors is because the speculative capital that would’ve once poured into top 200 assets, instead decided to jump the gun and flood into onchain low caps instead.”Deutscher notes that the early birds and insiders got insanely rich from this, but most retail investors who entered late lost. This was also the case in previous altcoin cycles. However, unlike 2022, where the losses were mainly limited to CEX altcoins with solid liquidity, they got stuck into illiquid onchain memecoins, which quickly retraced 70%-80%. This led to a “wealth destruction event greater than the early 2022 bear (LUNA aside),” even though BTC (and some majors) are still in a macro bull trend.Solana TVL vs Top 125 Alts (excl. Top 10). Source: Miles DeutscherPolitics in the United States added fuel to the memecoin craze. For example, President Donald Trump’s public embrace of memecoins sparked momentum — but the results quickly disappointed. TRUMP and MELANIA tokens have dropped 83% and 95%, respectively, since launching at the end of January, delivering another hit to retail sentiment.Related: Will new US SEC rules bring crypto companies onshore?Institutional investors and ETFs shifted the tideAnother factor impacting the strength of the current bull market’s altcoin season was the arrival of Wall Street. The launch of spot Bitcoin ETFs in January 2024 brought $129 billion in inflows as investors rushed into familiar structures with custody, regulation, and easy access. BlackRock’s IBIT became a dominant vehicle, and the introduction of ETF options in July 2024 added even more depth. Some analysts believe that the safety and scalability of spot BTC ETFs sucked capital away from speculative assets. With the ability to hedge through options and futures, the incentive to gamble on illiquid, low-volume altcoins diminishes significantly. But this explanation has limits. Crypto is not a zero-sum market — global liquidity is growing, and capital entering the space can flow in many directions. If anything, institutional demand could expand the total crypto pie.Furthermore, some altcoins already have their ETFs as well. Spot Ether ETFs debuted in July 2024 and have since registered a modest net inflow of $565,000, according to CoinGlass. Such a drastic difference in scale with spot BTC ETFs suggests that the ETF structure alone isn’t enough; investor conviction still matters.Altcoin’s function and their rallies became more nuancedThe term “altcoin” emerged when any non-Bitcoin token was novel. But in today’s ecosystem, the term lumps together wildly different assets: blockchain-native coins, governance tokens, stablecoins, memecoins, DApp tokens, and real-world asset protocol tokens — each with distinct functions and investor profiles. Just as it wouldn’t make sense to group gold, Nvidia stock, and the US dollar into a single index in traditional finance, it makes little sense to treat all altcoins as one unified category.A closer look at price action supports this idea. According to CoinGecko data, major altcoin categories have diverged sharply this cycle. Real-world asset (RWA) tokens surged 15x. GameFi, by contrast, lost half its market cap. This shows that narratives play a growing role in driving investors’ capital allocation decisions.Crypto categories market cap. Source: CoinGeckoEven core blockchain tokens have started to specialize. Ethereum remains the hub for DeFi. Solana dominates memecoins. Tron now holds second place in stablecoin transfers. ImmutableX is carving out its territory in the gaming space. In each case, token performance is increasingly tied to ecosystem activity. This means that we might want to abandon the term “altseason” and start to pay more attention to specific narratives within the crypto space.Altcoins aren’t moving as a pack anymore, and that might be the biggest signal of how the crypto market is maturing.This article does not contain investment advice or recommendations. Every investment and trading move involves risk, and readers should conduct their own research when making a decision.
https://cointelegraph.com/news/waiting-for-altcoin-season-data-suggests-it-s-already-here

2025-03-25 14:30:21

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US derivatives exchange operator CME Group is piloting solutions for tokenized assets using Google Cloud Universal Ledger (GCUL), a new distributed ledger that was designed for traditional financial institutions.According to a March 25 announcement, CME has already begun integrating GCUL to improve capital market efficiency and wholesale payments. CME Group chairman and CEO Terry Duffy said GCUL could “deliver significant efficiencies for collateral, margin, settlement and fee payments as the world moves toward 24/7 trading.”The announcement did not provide specific details about which assets would be tokenized. CME Group and Google Cloud will begin testing the technology with market participants in 2026.Source: CME GroupBefore the March 25 announcement, there were no details about GCUL. However, Google Cloud has been expanding into blockchain technology for several years, beginning in 2018 by adding Bitcoin blockchain data to its data warehouse. In 2023, Google Cloud added 11 blockchains to its data warehouse. They included Ethereum, Arbitrum, Avalanche and Optimism. Related: Google boss expects to spend $75B on AI this yearTokenization goes mainstreamTokenization — or the process of converting real-world and financial assets into digital tokens — has generated significant interest from major institutions. A March 24 article that was published by the World Economic Forum said the integration of traditional finance with blockchain is “now becoming a reality” and that tokenization was taking center stage. “With only $25 trillion of securities currently eligible for collateral use — out of a $230 trillion potential — tokenization could significantly expand liquidity and capital efficiency,” wrote Yuval Rooz, the co-founder of the New York-based company Digital Asset. The tokenization industry is expected to take off in the United States under President Donald Trump, who has promised to make America the blockchain and crypto capital of the world. Tokenized securities platform Tokeny said the Securities and Exchange Commission’s (SEC) repeal of SAB 121 would be a boon for the industry by “enabling institutions to provide custody solutions for tokenized securities without unnecessary financial risk. Excluding stablecoins, the RWA tokenization market is approaching $20 billion. Source: RWA.xyzMeanwhile, BlackRock CEO Larry Fink has also become a cheerleader for the tokenized securities market. In a January CNBC interview, Fink urged the SEC to “rapidly approve” the tokenization of stocks and bonds. Related: Tokenized real estate trading platform launches on Polygon
https://cointelegraph.com/news/cme-group-google-cloud-tokenization-technology-capital-market-efficiency

2025-03-24 19:21:31

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Nostra, a lending protocol on Starknet, has paused borrowing for two liquid staking tokens after identifying a “critical issue” with its price feeds, the decentralized finance (DeFi) protocol said. On March 24, errors in Nostra’s price feed inflated the reported prices of xSTRK and sSTRK — two liquid staking derivatives of Starknet’s native STRK token — to approximately three times the tokens’ actual value, Nostra said in a post on the X platform.According to Nostra, “[s]uch an inflated price feed could have caused unnecessary liquidations of otherwise safe positions, resulting in users with healthy positions getting liquidated.” In response, the DeFi protocol has disabled any further borrowing against xSTRK and sSTRK collateral deposits, Nostra said. Nostra has also recommended that users with existing xSTRK and sSTRK deposits withdraw the collateral immediately. “Since we don’t have a secondary (fallback) oracle to support these assets, as none are available, we are unable to fully prevent similar events from occurring in the future,” Nostra added.“Our priority has always been and continues to be to keep existing user funds safe and with no fallback oracle, the risks outweigh the benefits,” it said. Nostra’s collateral token options. Source: NostraRelated: Starknet to settle on Bitcoin and Ethereum to unify the chainsStarknet DeFi protocolStarknet is a layer-2 scaling chain of Ethereum secured using zero-knowledge (ZK) proofs. It launched its mainnet in late 2021, according to Messari.It has a total value locked (TVL) of approximately $575 million, according to data from L2Beat. Lending protocol Nostra is among the larger DeFi projects operating on the chain. It has a TVL of approximately $55 million, according to its website. On Nostra, users post collateral in one token to borrow in another token. The DeFi protocol’s most popular collateral tokens are Ether, STRK, and stablecoins USDC (USDC) and Tether (USDT). Starknet designed STRK to be staked in exchange for a portion of the network’s fee revenues, according to its documentation.xSTRK and sSTRK are liquid staking tokens issued by independent DeFi protocols Endur and Nimbura, respectively. Magazine: What are native rollups? Full guide to Ethereum’s latest innovation
https://cointelegraph.com/news/lending-protocol-nostra-reports-critical-price-feed-issue

2025-03-24 18:57:39

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Bitcoin (BTC) delivered its best weekly performance in over two months, climbing 4.24% to an intra-day high at $88,804. BTC also reclaimed a bullish stance on the charts, closing above the daily chart’s 200-day exponential moving average (EMA).Bitcoin 1-day chart. Source: Cointelegraph/TradingViewWith a weekly close above $84,600, the likelihood of BTC testing $90,000 increases. However, BTC price must overcome the descending resistance level to make a sustainable move at the range highs. Bitcoin correction is a “healthy pause”Bitcoin researcher Axel Adler Jr. explained that based on onchain metrics, the current price cycle reflects a healthy consolidation rather than the beginning of a bear market. Adler Jr. noted that BTC has not yet entered “overheated” territory in this cycle, as indicated by BTC’s Investor Price Model. This metric flashed a sell signal twice during 2021, and the model incorporates the realized cap, thermo cap, investor price, and Bitcoin supply. Using Bitcoin’s cumulative value days destroyed (CVDD), Adler argued that the market remains in a “growth stage.”Bitcoin cumulative value days. Source: adlercryptoinsights / SubstackThe CVDD metric monitors selling activity among long-term holders. The current bull cycle (2024-2025) triggered a sell signal just once, back in March 2024. In a Substack article, Adler said,“Considering the current market dynamics, we might see seasoned investors taking profits once Bitcoin breaches key peak levels ($123K), potentially exerting downward pressure on the price.”From the above analysis, Adler Jr. predicted that Bitcoin could climb to $130,000 within 90 days.Related: Bitcoin must reclaim this key 2025 level to avoid new lows — ResearchBitcoin open interest jumps $1.5 billion in 24 hours According to Velo data, Bitcoin's open interest (OI), representing the total value of outstanding futures contracts, jumped by over $1.5 billion in the last 24 hours. Meanwhile, the funding rate, which reflects the cost of holding leveraged positions, stayed near neutral. This suggests that neither bullish (long) nor bearish (short) traders were dominantly in control. Bitcoin price and aggregated open interest. Source: Velo.chartBitcoin experienced a surge in upward momentum late on Sunday, March 23rd. Weekend price rallies like this often occur with lower trading volume, as larger market participants tend to step back until the start of the week. In such a scenario, leveraged trades amplifying the action could heavily influence the price movement.In an X post, anonymous crypto analyst IT Tech PL also pointed out the OI level rise after BTC exceeded $87,500. However, the analyst added, “But here’s the catch: High OI + Rapid Price Increase = Risk of Liquidation Cascades!”Bitcoin 4-hour chart. Source: Cointelegraph/TradingViewFrom a technical perspective, Bitcoin registered a new high at $88,750 over the previous week’s top. However, as the chart exhibited, the price tested the upper Bollinger Band alongside the descending resistance. Additionally, BTC is also oscillating within an ascending channel. Based on the above confluence, BTC could witness a short-term correction to test the demand zone around $86,000-$87,000 before breaking through the $90,000 threshold. Related: Michael Saylor’s Strategy surpasses 500,000 Bitcoin with latest purchaseThis article does not contain investment advice or recommendations. Every investment and trading move involves risk, and readers should conduct their own research when making a decision.
https://cointelegraph.com/news/will-bitcoin-price-hit-130-k-in-90-days-yes-says-one-analyst

2025-03-24 18:54:31

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The Bhutan government moved $63 million worth of Bitcoin (BTC) on March 24 to three wallets, according to Onchain Lens, which analyzed data from Arkham Intelligence.One of the wallets now holds 600 BTC worth approximately $53 million at time of writing.Bhutan has leveraged its abundant hydroelectric power to mine Bitcoin since 2019. In September 2024, Arkham indicated that it had found the first wallet tied to the Bhutan government’s investment arm, Druk Holdings. After the March 24 transfers, the wallet holds $889.9 million invested in Bitcoin.Source: Onchain LensThe statistics indicate that Bhutan’s cryptocurrency holdings represent 30.7% of its gross domestic product (GDP), which, according to the latest data from the World Bank, reached $2.9 billion in 2023.Although Bitcoin is the primary holding of the Bhutan government, the nation does not seem to be pursuing a solely Bitcoin-based strategic reserve. Other stacks in the Druk Holdings wallet are $334,580 of Ether (ETH) and smaller amounts of LinqAI (LNQ), Phil (PHIL), and Apu Apustaja (APU), among other coins.Crypto holdings of the Bhutan government as of March 24, 2025. Source: Arkham IntelligenceIn October 2024, Bhutan moved $66 million of its BTC holdings to Binance. Over the past two months, the government has been moving small portions of Bitcoin and Ether out of its main wallet to other addresses.Governments adopt cryptocurrency reservesBhutan’s national government isn’t the only government body adopting cryptocurrency in the country — the practice has filtered down to the city level as well. In January 2025, Bhutan’s Gelephu Special Administrative Region announced plans to recognize a variety of digital assets as part of its strategic reserve.Related: Bitcoin’s role as a reserve asset gains traction in US as states adoptGovernments that have adopted a Bitcoin strategic reserve have seen their holdings multiply during this 2024-present bull run. El Salvador saw the value of its Bitcoin holdings surge to $100 million in November 2024, and the United States government now holds over $17 billion in Bitcoin.While national governments garner the most attention, some state governments are thinking of creating Bitcoin reserves as well. In the US, Texas has passed its Bitcoin reserve bill, although it still must be signed into law by the state’s governor. Bitcoin reserve bills in some states like Arizona are inching closer to becoming law, though a few states have already rejected their Bitcoin bills for a variety of reasons.Magazine: Chinese Tether laundromat, Bhutan enjoys recent Bitcoin boost: Asia Express
https://cointelegraph.com/news/bhutan-government-moves-63m-btc-three-wallets

2025-03-24 15:40:20

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Ether is trading at around half its all-time high price, but the Ethereum network is still valued higher than some of the world’s most prominent companies. Ether (ETH) traded at roughly $2,088 at the time of writing amid continued exchange-traded fund (ETF) outflows, down over 57% from its all-time high of nearly $4,900 set in mid-November 2021, according to CoinMarketCap data. Despite this decline, Ethereum maintains a market capitalization of nearly $252 billion, surpassing global corporations such as Toyota ($250 billion) and the total market value of the precious metal platinum ($245 billion).Other notable companies currently worth less than the Ethereum network include IBM, McDonald’s, General Electric, Shell and Disney. If Ethereum were a company, it would be the fiftieth largest in the world, just behind Nestlé, with its market capitalization of nearly $256 billion.Alex Obchakevich, founder of Obchakevich Research, told Cointelegraph that speculative interest significantly contributes to Ethereum’s valuation, as well as its “freedom from the financial framework of traditional finance.” He added:“Ethereum is about the future, about new financial technologies and solutions. The project is still very young and attracts many new and young investors who are ready to take risks. I believe that the average Zoomer will choose Ethereum for investment rather than Toyota or IBM shares.”Flavio Bianchi, a Polkadot ambassador and the chief marketing officer of the decentralized fundraising platform Polimec, told Cointelegraph that the comparison is less insightful than it might appear at first. He highlighted that “Ethereum isn’t a business” — it’s infrastructure. He explained:“Its value doesn’t come solely from revenue or profit but from usage and belief in its future role. It enables people to build, transact, issue assets and coordinate without intermediaries.”Obchakevich also suggested Ethereum became more attractive after it transitioned to proof-of-stake (PoS), reinforcing “its value as a deflationary asset with growth potential in the digital economy.”Related: ETH may reclaim $2.2K ‘macro range’ amid growing whale accumulationIs Ethereum a deflationary asset?Recent data from Ultra Sound Money shows that Ethereum is inflationary again, with an annual inflation rate of about 0.73% over the past 30 days.The rate of inflation or deflation is largely dependent on the ETH fees burned by the network and the amount of newly issued Ether. Fees have been burned on the network since the implementation of EIP-1559 in 2021, which, paired with decreased issuance after the PoS transition, resulted in Ethereum being deflationary during sustained network activity.IntoTheBlock data shows that on March 23, daily fees on Ethereum fell to a little over $337,000, the lowest value reported since June 2020. YCharts also shows that on March 23, there was only 118.67 ETH worth of fees, the lowest value reported this year.Ethereum network transaction fees per day. Source: YChartsOver the past 24 hours, ETH’s value rose nearly 3.5%, increasing its market capitalization by about $9.3 billion, now totaling approximately $252.1 billion. For comparison, this figure exceeds Greece’s gross domestic product (GDP), currently around $243.5 billion.Related: Ethereum eyes 65% gains from ‘cycle bottom’ as BlackRock ETH stash crosses $1BObchakevich highlighted that other than being worth more than Greece’s GDP, Ethereum’s market cap is also higher than the GDP of countries such as Slovenia and Croatia combined. He said this is more than a curious factoid:“For institutional investors, it is a sign of legitimacy. Ethereum is valued for smart contracts, and DeFi has a TVL [total value locked] of over $124 billion, seeing it not only as speculation but as the infrastructure of the future.”Pradeep Singh, CEO of enterprise privacy and security infrastructure firm Gateway FM, told Cointelegraph that these numbers reflect “a fundamental shift in how we value digital infrastructure”:“What we’re witnessing is a growing recognition that significant portions of the global economy will eventually migrate to this infrastructure. Ethereum’s market capitalization is essentially pricing in its future role as the settlement layer for everything from financial services to supply chain management.”The Ethereum protocol continues to evolve as developers introduce innovations such as native rollups, further expanding the blockchain’s capabilities and potential use cases.Magazine: MegaETH launch could save Ethereum… but at what cost?
https://cointelegraph.com/news/ethereum-is-down-57-but-is-still-worth-more-than-toyota

2025-03-23 07:43:46

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Chip-making giant Nvidia’s (NVDA) stock is flashing a major bearish signal — the last time this pattern appeared, it retraced nearly 50%. This may raise questions for the AI crypto sector, which has, at times, seemed to react to Nvidia’s price.“NVDA just formed a Death Cross for the first time since April 2022. The last one sent shares plunging 47% over the next 6 months,” markets data platform Barchart said in a March 23 X post. A death cross is a bearish signal that occurs when the 50-day simple moving average (SMA) of an asset’s market price falls below the 200-day SMA.Source: BarchartWhile Nvidia’s stock price formed the bearish signal before the trading week closed on March 21, several crypto AI tokens have risen since then. Render (RENDER) is up 4.06%, while Bittensor (TAO) and Artificial Superintelligence Alliance (FET) are both up around 2.88%, according to CoinMarketCap data. Nvidia has been a closely watched stock for AI crypto traders in recent times. While some crypto analysts have linked AI crypto token surges to NVDA’s performance — like its nearly 70% rally ahead of Nvidia’s Q2 earnings in 2024 — there have also been times when no clear correlation emerged. After Nvidia’s Q1 2024 revenue jumped 18% from Q4 2023, some AI token traders seemed disappointed that the strong results didn’t lead to a similar move in AI crypto token prices.Nvidia’s stock price is down 9.66% over the past month. Source: Google FinanceSome crypto traders recently suggested that the bubble has burst and that only AI tokens with real utility will thrive. Crypto trader CryptoCosta said in a March 22 X post, “The whole AI hype has already died down, now it's time for those who provide market solutions and have revenue.”Over the past month alone, the market capitalization of the top AI and big data crypto tokens has fallen 23.70%.The largest token in this sector by market cap, Near Protocol (NEAR), has retraced almost 59% over the past 12 months, now trading at $2.70.NEAR is trading at $2.70 at the time of publication. Source: CoinMarketCapHowever, in a recent survey, nearly half of crypto pundits said they are bullish over crypto AI tokens prices.Of the 2,632 respondents surveyed by CoinGecko between February and March, 25% were “fully bullish,” and 19.3% indicated they were “somewhat bullish” for crypto AI tokens in 2025. Related: AI and crypto drive criminal efficiency: EuropolAround 29% of respondents were neutral on the subject, while a combined 26.3% were either somewhat bearish or bearish. Meanwhile, former Binance CEO Changpeng “CZ” Zhao recently said, “While crypto is the currency for AI, not every agent needs its own token.”“Agents can take fees in an existing crypto for providing a service. Launch a coin only if you have scale. Focus on utility, not tokens,” he said.In February, Sygnum said in an investment report, while AI agents have gained “remarkable traction” so far, they have “struggled to prove their worth beyond speculation.”Magazine: What are native rollups? Full guide to Ethereum’s latest innovation
https://cointelegraph.com/news/nvidia-stock-price-death-cross-ai-crypto-tokens-next-to-follow

2025-03-22 14:06:47

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An unknown trader made nearly half a million worth of profit on a recently launched memecoin just before the token lost half of its value, sparking insider trading allegations after the recent wave of memecoin meltdowns.A savvy trader made an over 1,500-fold return on his initial investment, turning it into over $482,000 in less than 24 hours on the Bubb (BUBB) memecoin.Source: Lookonchain“Turned $304 into $482K on $BUBB—a 1,586x return! This trader spent only $304 to buy 43.94M $BUBB and sold 28.9M $BUBB for $122K, leaving 15.64M $BUBB($360K),” wrote Lookonchain in a March 21 X post.The profitable trade occurred shortly before the token lost over 50% of its value, from a peak that rose to a peak $43.7 million market capitalization on March 21 at 10:00 p.m. UTC, to the current $22.6 million, Dexscreener data shows. BUBB/WBNB, all-time chart. Source: DexscreenerThe Bubb token started receiving significant investor attention on March 20, after Binance co-founder and chief customer service officer, Yi He, commented on one of the token’s posts — a move that was interpreted by traders as a sign of a potential token listing on the world’s largest exchange.Source: BubbnbThe unknown trader’s over 1,500-fold return sparked insider trading allegations among market participants.“Can you tag these kinds of posts with "insider" so I can mute all of those, i rather be naive about it,” replied pseudonymous crypto investors fhools, to Lookonchain’s X post.The profitable trade comes a week after Hayden Davies’ Wolf of Wall Street-inspired memecoin crashed 99%, showing signs of significant insider activity ahead of the token’s collapse.Source: BubblemapsDavis launched the Wolf (WOLF) memecoin on March 8, banking on rumors of Jordan Belfort, known as the Wolf of Wall Street, launching his own token.The token reached a peak $42 million market cap. However, 82% of the WOLF token’s supply was bundled under the same entity, according to a March 15 X post by Bubblemaps,Related: Crypto debanking is not over until Jan 2026: Caitlin LongDavies’ latest token launch comes weeks after the Libra token’s collapse, where eight insider wallets cashed out $107 million in liquidity, leading to a $4 billion market cap wipeout within hours.The Libra token turned into a political issue, with Argentine President Javier Milei risking impeachment after his endorsement of the Libra coin.Related: Milei-endorsed Libra token was ‘open secret’ in memecoin circles — JupiterPolitically-backed memecoins need stronger investor protection guardrailsTo avoid another meltdown similar to Libra’s, tokens with presidential endorsements will need more robust safety and economic mechanisms, such as liquidity locking or making the tokens in the liquidity pool non-sellable for a predetermined period, DWF Labs wrote in a report shared with Cointelegraph.The report stated that tokens from high-profile leaders would also need launch restrictions to limit participation from crypto-sniping bots and large holders or whales.“Limiting bot and whale activity is essential in limiting the impact of individuals acting on insider information to corner a large percentage of the token supply,” according to Andrei Grachev, managing partner at DWF Labs:“Projects must strive to deliver as fair a launch as possible so that all participants have an equal opportunity to secure an allocation and aren’t disadvantaged by a handful of well-funded or well-informed players claiming the lion’s share of the supply.”Source: DWF LabsThe Libra scandal resulted in 74,698 traders losing a cumulative $286 million worth of capital, according to DWF Labs’ report.Milei faces impeachment calls from his political opponents after endorsing the cryptocurrency that turned into a $100 million rug pull.Magazine: Caitlyn Jenner memecoin ‘mastermind’s’ celebrity price list leaked
https://cointelegraph.com/news/bnb-trader-1500x-return-memecoin-crashes

2025-03-22 09:44:43

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The cryptocurrency industry may still be facing debanking-related issues in the United States, despite the recent wave of positive legislation, according to crypto regulatory experts and industry leaders.The collapse of crypto-friendly banks in early 2023 sparked the first allegations of Operation Chokepoint 2.0. Critics, including venture capitalist Nic Carter, described it as a government effort to pressure banks into cutting ties with cryptocurrency firms.Despite numerous crypto-positive decisions from US President Donald Trump, including the March 7 order to use Bitcoin (BTC) seized in government criminal cases to establish a national reserve, the industry may still be facing banking issues.“It’s premature to say that debanking is over,” according to Caitlin Long, founder and CEO of Custodia Bank. Long said during Cointelegraph’s Chainreaction daily X show on March 21:“There are two crypto-friendly banks under examination by the Fed right now and an army of examiners was sent into these banks, including the examiners from Washington, a literal army just smothering the banks.”Source: Cointelegraph“The Fed is the outlier and the Fed is still controlled by democrats,” explained Long, adding:“Trump won’t have the ability to appoint a new Fed governor until January. So therefore you can see the breadcrumbs leading up to a potentially big fight. Because if the OCC and FDIC overturn their anti-crypto guidance but the Fed does not, where does that leave us?”Long’s Custodia Bank was repeatedly targeted by the US debanking efforts, which cost the firm months of work and “a couple of million dollars,” she explained.Industry outrage over alleged debanking reached a crescendo when a June 2024 lawsuit spearheaded by Coinbase resulted in the release of letters showing US banking regulators asked certain financial institutions to “pause” crypto banking activities.Related: FDIC chair, ‘architect of Operation Chokepoint 2.0’ Martin Gruenberg to resign Jan. 19Crypto debanking is the biggest operational problem in EU: blockchain regulations adviserCryptocurrency debanking is also among the biggest challenges for European cryptocurrency firms, according to Anastasija Plotnikova, co-founder and CEO of blockchain regulatory firm Fideum.“We’re living in 2025 and debanking is still one of the main operational issues for both small and large crypto firms,” said Plotnikova, adding:“Crypto debanking is also a problem here in the EU. I had my accounts closed in 2017, 2018, 2019, 2021, and 2022, but 2024 was a good year. Operationally these problems exist for both users and crypto firms operating.”Related: Paolo Ardoino: Competitors and politicians intend to ‘kill Tether’The comments come two weeks after the US Office of the Comptroller of the Currency (OCC) eased its stance on how banks can engage with crypto just hours after US President Donald Trump vowed to end the prolonged crackdown restricting crypto firms’ access to banking services.Trump’s remarks were made during the White House Crypto Summit, where he told industry leaders he was “ending Operation Chokepoint 2.0.”Source: Elon MuskAt least 30 tech and crypto founders were “secretly debanked” in the US during Operation Chokepoint 2.0, Cointelegraph reported in November 2024.Magazine: SEC’s U-turn on crypto leaves key questions unanswered
https://cointelegraph.com/news/crypto-debanking-over-jan-2026-caitlin-long

2025-03-21 19:06:26

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Crypto investors rejoiced this week after the US Securities and Exchange Commission dismissed one of the crypto industry’s most controversial lawsuits — one that resulted in an over four-year legal battle with Ripple Labs.In another significant regulatory development, Solana-based futures exchange-traded funds (ETFs) have debuted in the US, a move that may signal the approval of spot Solana (SOL) ETFs as the “next logical step” for lawmakers.SEC’s XRP reversal a “victory for the industry”: Ripple CEOThe SEC’s dismissal of its years-long lawsuit against Ripple Labs, the developer of the XRP Ledger blockchain network, is a “victory for the industry,” Ripple CEO Brad Garlinghouse said at Blockworks’ 2025 Digital Asset Summit in New York.On March 19, Garlinghouse revealed that the SEC would dismiss its legal action against Ripple, ending four years of litigation against the blockchain developer for an alleged $1.3-billion unregistered securities offering in 2020.“It feels like a victory for the industry and the beginning of a new chapter,” Garlinghouse said on March 19 at the Summit, which Cointelegraph attended. Ripple’s CEO said the SEC is dropping its case against the blockchain developer. Source: Brad GarlinghouseContinue readingSolana futures ETF to grow institutional adoption, despite limited inflowsThe crypto industry is set to debut the first SOL futures ETF, a significant development that may pave the way for the first spot SOL ETF as the “next logical step” for crypto-based trading products, according to industry watchers.Volatility Shares is launching two SOL futures ETFs, the Volatility Shares Solana ETF (SOLZ) and the Volatility Shares 2X Solana ETF (SOLT), on March 20.Volatility Shares Solana ETF SEC filing. Source: SECThe debut of the first SOL futures ETF may bring significant new institutional adoption for the SOL token, according to Ryan Lee, chief analyst at Bitget Research.The analyst told Cointelegraph: “The launch of the first Solana ETFs in the US could significantly boost Solana’s market position by increasing demand and liquidity for SOL, potentially narrowing the gap with Ethereum’s market cap.”The Solana ETF will grow institutional adoption by “offering a regulated investment vehicle, attracting billions in capital and reinforcing Solana’s competitiveness against Ethereum,” said Lee, adding that “Ethereum’s entrenched ecosystem remains a formidable barrier.”Continue readingPump.fun launches own DEX, drops RaydiumPump.fun has launched its own decentralized exchange (DEX) called PumpSwap, potentially displacing Raydium as the primary trading venue for Solana-based memecoins. Starting on March 20, memecoins that successfully bootstrap liquidity, or “bond,” on Pump.fun will migrate directly to PumpSwap, Pump.fun said in an X post. Previously, bonded Pump.fun tokens migrated to Raydium, which emerged as Solana’s most popular DEX, largely thanks to memecoin trading activity. According to Pump.fun, PumpSwap “functions similarly to Raydium V4 and Uniswap V2” and is designed “to create the most frictionless environment for trading coins.”“Migrations were a major point of friction - they slow a coin’s momentum and introduce needless complexity for new users,” Pump.fun said.“Now, migrations happen instantly and for free.”Raydium’s trading volumes surged in 2024, largely due to memecoins. Source: DefiLlamaContinue readingBybit: 89% of stolen $1.4B crypto still traceable post-hackThe lion’s share of the hacked Bybit funds is still traceable after the historic cybertheft, with blockchain investigators continuing their efforts to freeze and recover the funds.The crypto industry was rocked by the largest hack in history on Feb. 21 when Bybit lost over $1.4 billion in liquid-staked Ether (stETH), Mantle Staked ETH (mETH) and other digital assets.Blockchain security firms, including Arkham Intelligence, have identified North Korea’s Lazarus Group as the likely culprit behind the Bybit exploit as the attackers continue swapping the funds in an effort to make them untraceable.Despite the Lazarus Group’s efforts, over 88% of the stolen $1.4 billion remains traceable, according to Ben Zhou, co-founder and CEO of crypto exchange Bybit.The CEO wrote in a March 20 X post:“Total hacked funds of USD 1.4bn around 500k ETH. 88.87% remain traceable, 7.59% have gone dark, 3.54% have been frozen.”“86.29% (440,091 ETH, ~$1.23B) have been converted into 12,836 BTC across 9,117 wallets (Average 1.41 BTC each),” said the CEO, adding that the funds were mainly funneled through Bitcoin (BTC) mixers, including Wasbi, CryptoMixer, Railgun and Tornado Cash.Source: Ben ZhouThe CEO’s update comes nearly a month after the exchange was hacked. It took the Lazarus Group 10 days to move 100% of the stolen funds through the decentralized crosschain protocol THORChain, Cointelegraph reported on March 4.Continue readingLibra, Melania creator’s “Wolf of Wall Street” memecoin crashes 99%The creator of the Libra token has launched another memecoin with some of the same concerning onchain patterns that pointed to significant insider trading activity ahead of the coin’s 99% collapse.Hayden Davis, co-creator of the Official Melania Meme (MELANIA) and Libra tokens, has launched a new Solana-based memecoin with an over 80% insider supply.Davis launched the Wolf (WOLF) memecoin on March 8, banking on rumors of Jordan Belfort, known as the Wolf of Wall Street, launching his own token.The token reached a peak $42 million market cap. However, 82% of WOLF’s supply was bundled under the same entity, according to a March 15 X post by Bubblemaps, which wrote:“The bubble map revealed something strange — $WOLF had the same pattern as $HOOD, a token launched by Hayden Davis. Was he behind this one too?”Source: BubblemapsThe blockchain analytics platform revealed transfers across 17 different addresses, stemming back to the address “OxcEAe,” owned by Davis.“He funded these wallets months before $LIBRA and $WOLF launched, moving money through 17 addresses and 2 chains,” Bubblemaps added.Source: BubblemapsThe Wolf memecoin lost over 99% of its value within two days, from the peak $42.9 million market capitalization on March 8 to just $570,000 by March 16, Dexscreener data shows.Continue readingDeFi market overviewAccording to Cointelegraph Markets Pro and TradingView data, most of the 100 largest cryptocurrencies by market capitalization ended the week in the green.Of the top 100, the BNB Chain-native Four (FORM) token rose over 110% as the week’s biggest gainer, followed by PancakeSwap’s CAKE (CAKE) token, up over 48% on the weekly chart.Total value locked in DeFi. Source: DefiLlamaThanks for reading our summary of this week’s most impactful DeFi developments. Join us next Friday for more stories, insights and education regarding this dynamically advancing space.
https://cointelegraph.com/news/sec-xrp-reversal-crypto-industry-victory-sol-futures-etf-finance-redefined

2025-03-20 08:48:00

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Key takeawaysPoR audits are cryptographic verifications used by cryptocurrency exchanges to prove they hold sufficient assets to cover customer deposits. Using methods like Merkle trees and zero-knowledge proofs, PoR ensures transparency, similar to how capital reserves are mandated in traditional finance for stability.Coinbase’s cbBTC uses PoR to verify that for every wrapped Bitcoin, an equivalent amount is securely held in Coinbase’s custody. PoR audits can verify asset holdings but do not account for liabilities, which can mislead users about an exchange’s solvency. Proof-of-reserves (PoR) audits have become a vital tool in the cryptocurrency industry to promote transparency and security, especially in the wake of high-profile exchange collapses like FTX. While similar in concept to traditional banking capital adequacy requirements, PoR audits come with certain limitations, especially in their inability to verify liabilities and their reliance on periodic reports. This article explores PoR audits, their role in crypto and their evolution into more robust models for ensuring exchange solvency.What are proof-of-reserves audits?Cryptocurrency exchanges are increasingly adopting proof-of-reserves (PoR) audits to verify they hold sufficient assets to cover user deposits. These cryptographic audits, using Merkle trees and onchain verifications, serve as a transparency mechanism in crypto, much like capital adequacy requirements do for traditional finance.But does the PoR concept draw inspiration from TradFi?In traditional banking, regulators have long mandated that financial institutions maintain a certain level of capital reserves to safeguard against potential risks. This framework ensures that banks can absorb unexpected losses and continue to operate during economic downturns. A pivotal moment highlighting the importance of such regulations was the 2008 financial crisis. During this crisis, many banks faced significant losses due to high-risk exposures, leading to a global economic downturn. In response, international regulatory bodies introduced more stringent measures to bolster the resilience of financial institutions.One such measure is the Basel III framework, established by the Basel Committee on Banking Supervision. Basel III set forth comprehensive reforms to improve the regulation, supervision and risk management within the banking sector. Common equity tier 1 (CET1) capital requirements mandate financial services firms to hold a minimum amount of common equity relative to their risk-weighted assets, ensuring they have a solid capital base to cover potential losses.Leverage ratio serves as a backstop to the risk-based capital requirements, limiting the extent to which a bank can leverage its capital base.Liquidity coverage ratio (LCR) ensures that banks have sufficient high-quality liquid assets to withstand a 30-day stressed funding scenario.Net stable funding ratio (NSFR) promotes resilience over a longer time horizon by requiring banks to fund their activities with stable sources of funding.These measures aim to enhance the banking sector’s ability to absorb shocks arising from financial and economic stress, thereby reducing the risk of systemic crises.A parallel concept known as proof-of-reserves (PoR) audits has emerged in the world of cryptocurrencies to promote transparency and trust within digital asset platforms. PoR audits are cryptographic verifications that confirm whether a cryptocurrency exchange or custodian holds the assets it claims on behalf of its users. These cryptographic audits, using Merkle trees and onchain verifications, serve as a transparency mechanism in crypto. The primary goal is to provide assurance that these platforms are solvent and can meet customer withdrawal demands. Some audits provide the dollar equivalent of the reserves, whereas others report in major cryptocurrencies like Bitcoin (BTC) and Ether (ETH).How do proof-of-reserves audits work?PoR audits use cryptographic methods like Merkle trees to verify that exchanges hold sufficient assets to cover user deposits, but they don’t prove solvency, as they don’t account for hidden liabilities. These audits are designed to verify that cryptocurrency exchanges and custodians actually hold the assets they claim on behalf of their users. The process typically begins with asset verification, where platforms disclose wallet addresses or use cryptographic proofs, such as Merkle trees, to confirm holdings without revealing sensitive account details. A Merkle tree allows user balances to be hashed and aggregated into a single “Merkle root,” which auditors and users can verify independently. Additionally, a third-party auditor may be involved to assess whether the exchange’s reserves match its reported holdings. Alongside this, customer liability verification ensures that total deposits do not exceed available reserves, strengthening the credibility of the exchange’s financial standing.While traditional PoR audits rely on Merkle trees, they have limitations, such as the inability to prove solvency (i.e., whether an exchange has hidden liabilities or outstanding loans). To address this, ZK-proofs are being explored as a more private and secure method of reserve verification. Zero-knowledge (ZK) proofs offer a more advanced solution by enabling exchanges to mathematically prove they are fully backed without revealing sensitive data, paving the way for proof-of-solvency audits.A ZK-proof-based PoR system could allow an exchange to mathematically prove that its reserves exceed its liabilities without revealing individual account balances or wallet addresses. This eliminates the risk of exposing sensitive user data while still providing strong cryptographic assurance that the exchange is solvent. Some blockchain projects and exchanges are experimenting with ZK-proofs for PoR, but adoption remains in the early stages.Ultimately, PoR audits are a critical step in improving transparency in crypto markets, especially after past exchange failures like FTX, which falsely represented its reserves. By combining Merkle trees with ZK-proofs, the industry could move toward proof-of-solvency audits, which not only verify reserves but also ensure an exchange does not carry undisclosed debts. Here are the differences between Merkle tree-based PoR and zero-knowledge proof-based PoR:If widely adopted, these methods could enhance trust in centralized exchanges (CEXs) while maintaining user privacy, offering a regulatory-friendly yet decentralized approach to crypto financial accountability.Below is a list of exchanges and their PoR audit details.Did you know? Following a hack in February 2025, Bybit underwent a comprehensive PoR audit conducted by the cybersecurity firm Hacken. This audit confirmed that Bybit’s holdings fully covered user liabilities, maintaining a 1:1 ratio for all in-scope assets. The audit encompassed a full verification of wallets containing 40 different asset types, ensuring transparency and security for all users.What is Coinbase’s cbBTC, and how does it ensure trust through PoR?Coinbase’s cbBTC is a token that represents Bitcoin (BTC) 1:1 onchain, fully backed by the equivalent amount of Bitcoin held in Coinbase’s custody. By wrapping BTC into cbBTC, users can interact with it in decentralized applications (DApps) and across various blockchains, such as Ethereum, Solana and Base, while retaining its Bitcoin value.Coinbase uses PoR to ensure transparency and verify that the wrapped cbBTC tokens are fully backed by actual Bitcoin reserves held by Coinbase. PoR audits confirm that Coinbase holds sufficient Bitcoin in its reserves to support all issued cbBTC, maintaining trust and security for users who wrap or redeem their Bitcoin.PoR audit and transparency for cbBTC1:1 backing of cbBTC by Bitcoin: Coinbase ensures that for every cbBTC token issued, there is an equivalent amount of Bitcoin securely stored in its custody. This process ensures the integrity and security of cbBTC, allowing users to confidently use their wrapped tokens in decentralized finance (DeFi) and across multiple blockchain platforms.PoR for user assurance: PoR audits help verify Coinbase’s claims by cross-checking its Bitcoin reserves with the number of cbBTC tokens in circulation. This audit ensures that users’ wrapped tokens are always fully backed, offering additional security and transparency. As part of its PoR commitment, Coinbase has published audit reports that confirm its reserves.Secure handling of Bitcoin reserves: Coinbase ensures that the Bitcoin backing cbBTC is not sold, transferred or used for other purposes. The Bitcoin is held securely to maintain the 1:1 backing for cbBTC, ensuring that users can redeem their wrapped tokens for Bitcoin at any time.CbBTC is accessible to Coinbase customers with verified accounts who are based in select regions, including the US (excluding New York), the UK, the European Economic Area (EEA), Australia, Singapore and Brazil. Additionally, users can acquire cbBTC through Coinbase Wallet or other third-party exchanges that offer support for it.Did you know? While Coinbase provides transparency through PoR, you should be aware that the wrapping or unwrapping of cbBTC does not constitute a taxable event for the IRS, as clarified by Coinbase. However, you should consult tax professionals for personalized guidance.Limitations of PoR approachWhile proof-of-reserves audits verify that exchanges hold assets, they fail to account for liabilities, creating a false sense of security. Additionally, PoR audits are mere snapshots with no real-time oversight.While proof-of-reserves audits enhance transparency by verifying that exchanges hold sufficient assets, they come with notable limitations that can create a false sense of security. Liability exclusion concern: One of the biggest concerns is the exclusion of liabilities. PoR audits only confirm the assets an exchange holds, not whether they have outstanding debts, obligations or hidden leverage. This was a critical issue with FTX, which falsely presented itself as solvent by showcasing its assets without disclosing the massive liabilities owed to creditors and users. Without a simultaneous proof-of-liabilities (PoL) audit, an exchange can appear well-funded while actually being deeply insolvent. Both assets and liabilities are needed to be included in this exercise for it to be completely useful.Snapshot audits and ongoing solvency risks: Another key limitation is the snapshot nature of these audits, which provide verification for a single moment in time but do not guarantee ongoing solvency. An exchange could pass a PoR audit today and deplete reserves the next day by moving funds, taking on new liabilities or engaging in risky lending practices. For instance, when Binance published its first PoR audit in December 2022, it faced criticism because it was a one-time report rather than a real-time solvency check. Unlike traditional finance, where banks undergo continuous regulatory scrutiny and stress tests, crypto PoR audits lack ongoing oversight, leaving room for manipulation between audit periods. Some firms, like Nexo, introduced real-time PoR in 2021 but discontinued it in 2024, as their auditors could no longer support the capability.Reliance on third-party auditors: Lastly, PoR audits rely heavily on third-party auditors, making their effectiveness dependent on the credibility and independence of the auditing firm. Some exchanges have opted for internal audits, which raises concerns about objectivity and transparency. A case in point is Mazars Group, the auditing firm that conducted PoR reports for Binance and Crypto.com in 2022. It later withdrew from providing crypto audit services, citing concerns over the reliability of the process. This incident underscored the industry’s need for stronger, independent and standardized auditing frameworks to ensure that PoR audits genuinely reflect an exchange’s financial health rather than serving as a mere public relations tool.Proof-of-reserves as a step forward, not a perfect solutionPoR is a good step in the right direction. It is not perfect, but there is no need to make perfection an enemy of progress. Many of the recent developments in the cryptocurrency industry look promising, where PoR can not only serve native crypto assets but could also help traditional finance when their assets and liabilities are tokenized. In its ideal form, PoR should be used to assess the solvency of any counterparty, whether in DeFi, centralized finance (CeFi) or traditional finance (TradFi), making the future of finance more robust and reliable with its implementation
https://cointelegraph.com/news/what-are-proof-of-reserves-audits-and-how-do-they-work

2025-03-20 05:01:20

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BlackRock’s head of digital assets, Robbie Mitchnick, says that Bitcoin will most likely thrive in a recessionary macro environment, contrary to what some analysts may think. “I don’t know if we’ll have a recession or not, but a recession would be a big catalyst for Bitcoin,” Mitchnick said in a March 19 interview with Yahoo Finance.Mitchnick said Bitcoin (BTC) is catalyzed by increased fiscal spending, deficit accumulation, lower interest rates and monetary stimulus — all of which tend to happen in recessions.“And it’s catalyzed to some extent over fears of general social disorder,” Mitchnick pointed out. “And that too, unfortunately, is something that can happen in a recession.” LATEST: BlackRock Global Head of Digital Assets Robbie Mitchnick says, “If you look at Bitcoin fundamentally on a long-term basis, it really seems like an asset that should be uncorrelated or even inversely correlated against certain risk factors that exist.” pic.twitter.com/bC0zKqF3xB— Cointelegraph (@Cointelegraph) March 19, 2025The BlackRock executive said the market is “not particularly well calibrated” to Bitcoin, and many still view it as a risk-on asset.Risk-on assets, such as stocks, commodities and high-yield bonds, tend to suffer during times of economic crises, but Mitchnick said in September that he believed the asset was mislabeled. “But that’s where the opportunity comes in for education in a market and asset class that’s still very nascent.”Mitchnick said BlackRock has been helping some of its clients see through some of these conflicting narratives.He added that some of BlackRock’s more “sophisticated long-term Bitcoin accumulator” clients see the market correction as a buying opportunity and aren’t bothered by the current economic headwinds.Meanwhile, researchers from cryptocurrency exchange Coinbase were less bullish, saying crypto’s positive outlook for the first quarter had “clearly been misplaced” by recession fears and the recent tariffs imposed.“Fears of a dramatic US economic slowdown or even recession have caused sentiment to turn sharply,” Coinbase Institutional said in its monthly outlook report on March 17.Related: Crypto market’s biggest risks in 2025: US recession, circular crypto economyBlackRock has played a key role in the institutional and wealth advisory adoption of Bitcoin through its iShares Bitcoin Trust ETF — which holds the most net assets of any Bitcoin investment product at $48.7 billion.Mitchnick isn’t worried about the mass net outflows across most spot Bitcoin exchange-traded funds of late — pointing out that it has mostly come from hedge funds’ unwinding of the spot futures arbitrage trade, not the long-term buy-and-hold investors.Bitcoin is currently trading at $86,000, up 3.8% over the last 24 hours.Magazine: Meet lawyer Max Burwick — ‘The ambulance chaser of crypto’
https://cointelegraph.com/news/bitcoin-benefit-us-recession-blackrock-crypto-head

2025-03-19 15:35:58

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Key takeawaysAccepting crypto payments reduces transaction fees, eliminates chargebacks, and enables seamless global transactions.Businesses of all sizes, from e-commerce to real estate, are integrating cryptocurrency payments to attract new customers.Risks like price volatility and regulatory compliance can be managed with trusted payment processors like BitPay, CoinsPaid and Coinbase Commerce.Setting up crypto payments is easier than ever, with zero upfront costs and user-friendly integration options for small businesses.The rapid adoption of cryptocurrencies has led businesses of all sizes to increasingly embrace digital currencies like Bitcoin as a legitimate payment method.And it’s not just a rehash of old news. For years, you might have seen luxury brands like Gucci and telecommunications companies like AT&T accepting Bitcoin. But today, crypto payments are much more than an easy bit of PR — they’re seamlessly integrating into e-commerce, hospitality, travel and even your neighborhood coffee shop.What started as a niche trend in the early 2010s has accelerated over the years. As of 2025, over 659 million people worldwide — roughly 1 in 13 individuals — are using cryptocurrency. Moreover, approximately 15,000 businesses globally accept Bitcoin (BTC), including around 2,300 in the United States.While there are considerations to keep in mind, many view accepting BTC and other cryptocurrencies, even as a small business, as a win-win. The benefits often outweigh any challenges, with minimal downsides and significant potential rewards.The following sections explore the whos, the whys and the hows.What companies are currently accepting cryptocurrencies?As briefly touched upon, it’s not only niche crypto-specific sectors that are accepting Bitcoin payments. Here are some sectors that you might not have considered, with accompanying case studies.E-commerceShopify enables merchants to accept cryptocurrency payments through various payment gateways, including BitPay and Coinbase Commerce.Newegg accepts Bitcoin and other cryptocurrencies for electronics purchases, integrating crypto payments into its checkout process.Rakuten Japan allows users to convert Rakuten Points into Bitcoin, Ether (ETH) and Bitcoin Cash (BCH), effectively incorporating crypto into its rewards ecosystem.Food and beverageSubway accepts Bitcoin at selected locations, with franchises in Europe and North America processing crypto payments.Burger King franchises in Brazil and Venezuela allow customers to pay for meals with Bitcoin and select altcoins.Starbucks supports Bitcoin payments through the Bakkt app, enabling customers to reload their Starbucks cards with cryptocurrency.RetailHome Depot accepts Bitcoin payments via Flexa, allowing customers to use cryptocurrency for home improvement purchases.Whole Foods processes crypto payments through the Spedn app, which enables Bitcoin and other digital currency transactions at checkout.Nordstrom integrates crypto payments into its in-store and online shopping platforms, supporting purchases with Bitcoin and Ethereum.Real estateIn Miami, a $22.5-million penthouse in the Arte Surfside complex was purchased entirely with Bitcoin, one of the largest real estate transactions involving cryptocurrency.Magnum Real Estate Group sold a retail condo in Manhattan for $15.3 million in Bitcoin, marking one of the first large-scale commercial real estate deals in crypto.Kuper Sotheby’s International Realty in Texas completed a home sale using Bitcoin, expanding crypto transactions into the residential property market.Hospitality and travelMirai Flights processes cryptocurrency payments for private jet charters, catering to high-net-worth individuals.Travala accepts BTC, ETH and other cryptocurrencies for hotel and flight bookings, partnering with major travel service providers.Expedia facilitates crypto payments for hotel bookings through Travala, offering Bitcoin payment options on select accommodations.AdvertisingClaimr, a Web3 marketing platform, processes approximately 8 million euros annually, with the majority of transactions conducted in cryptocurrency.Accessible.org began accepting Bitcoin and other cryptocurrencies in 2025, allowing clients to pay for digital accessibility services with crypto.Black Iris Social Club in Richmond accepts Bitcoin for event bookings and memberships, integrating cryptocurrency into its operations.Did you know? The first-ever real-world transaction using Bitcoin took place on May 22, 2010, when programmer Laszlo Hanyecz bought two pizzas for 10,000 BTC. Today, those 10,000 BTC would be worth hundreds of millions of dollars, making it one of the most expensive pizza orders in history. This event is now celebrated annually as Bitcoin Pizza Day in the crypto community.Why are businesses accepting crypto payments?So, all the big brands are in. But what’s driving this trend, and can small businesses benefit, too?One of the most significant advantages is lower transaction fees. Traditional payment processors and credit card companies typically charge businesses between 2% and 4% per transaction, while crypto payment gateways often reduce this to less than 1%. For businesses processing high volumes of transactions, these savings can be substantial.Another key factor is the ability to access a global market without the restrictions of currency exchange rates and international banking fees. Cryptocurrency payments enable seamless cross-border transactions, allowing businesses to serve international customers without friction. This is especially beneficial for industries like travel, luxury goods and digital services, where cross-border commerce is common.Security and fraud prevention also play a role. Cryptocurrency transactions are final, eliminating chargebacks — something that costs businesses billions of dollars annually in fraudulent disputes. This makes crypto payments particularly appealing to merchants in industries where chargebacks are common, such as e-commerce and online services.Did you know? In 2025, chargeback fraud, particularly friendly fraud, has become a significant concern for merchants. Notably, a recent survey revealed that 55% of Generation Z and 49% of Millennials earning over $100,000 annually admitted to engaging in digital shoplifting — a form of first-party fraud where consumers falsely claim issues with online orders to secure refunds or avoid payments. Additionally, businesses recognize that accepting cryptocurrency aligns with the preferences of a growing demographic of crypto users. Companies integrating crypto payments position themselves as forward-thinking and innovative, appealing to solvent, tech-savvy consumers who prefer digital transactions over traditional banking systems.Finally, some businesses are drawn to the potential of holding crypto as an asset. While many use payment processors that instantly convert cryptocurrency into fiat currency to avoid volatility, others see it as an opportunity to gain exposure to a growing asset class. With major corporations like Tesla and MicroStrategy holding Bitcoin on their balance sheets, smaller businesses are following suit, recognizing the potential long-term value.Small businesses stand to benefit the most here, as accepting crypto payments is an easy way to carve out a niche for the brand, reaching far more customers than would be possible by offering only fiat payments. The strategy might well mean the difference between failure and success in a competitive startup environment.Did you know? A survey by Deloitte found that 85% of merchants see crypto payments as a way to reach new customers.Risks of accepting cryptocurrency paymentsWhile accepting crypto payments is often seen as a win-win, businesses must also be aware of potential risks in doing so on their own, without proper accounting systems and crypto processing partners.Price volatilityCryptocurrencies like Bitcoin are known for significant price fluctuations. For example, in early 2025, Bitcoin’s price dropped from $109,071 to around $80,000 — a nearly 25% decline within a short period. Such volatility can impact the value of received payments if not promptly converted to stable currencies.Regulatory and tax complianceThe regulatory landscape for cryptocurrencies varies by jurisdiction and is continually evolving. For example, in the United States, the Internal Revenue Service (IRS) classifies cryptocurrencies as property, not currency, which introduces complexities in tax reporting and compliance. Businesses must stay informed about applicable regulations to ensure adherence to tax obligations and avoid potential legal issues.Security concernsAccepting cryptocurrencies necessitates the use of digital wallets and exchanges, which can be susceptible to cybersecurity threats.Without robust security measures, businesses risk unauthorized access and theft of digital assets. Implementing strong cybersecurity protocols is essential.Technical barriersIntegrating cryptocurrency payment systems requires technical knowledge that some small business owners may lack. Establishing digital wallets and navigating digital currency exchanges can be challenging, potentially leading to operational inefficiencies or errors. Investing in employee training or consulting with experts may be necessary to overcome these hurdles.Market acceptance and perceptionDespite growing adoption, cryptocurrencies are not universally accepted or understood. Some customers may be hesitant to use digital currencies due to concerns about security or unfamiliarity, potentially limiting the perceived benefits of offering crypto payment options. Businesses should assess their customer base to determine if accepting cryptocurrencies aligns with their clientele’s preferences.Use a crypto payment provider It’s unlikely that, as a small business, you’ll take this road alone — especially when leading crypto payment processors offer zero up-front integration costs:These processors offer immediate conversion services, transforming volatile cryptocurrencies into stable fiat currencies upon receipt, thereby shielding businesses from price fluctuations.They also assist in navigating complex regulatory landscapes by providing tools for accurate tax reporting and ensuring compliance with evolving laws.To address security concerns, reputable processors implement robust cybersecurity measures, safeguarding digital assets against potential threats.Additionally, they offer user-friendly platforms that simplify the technical aspects of cryptocurrency transactions, making integration accessible even for those with limited technical expertise.The next section will explore a number of crypto processing providers that you may wish to choose from as a small business.Which crypto payment gateway to choose in 2025 BitPayFounded in 2011, BitPay is a pioneering cryptocurrency payment processor. As of 2024, it holds a 6.26% market share in the Bitcoin payment processing sector, serving over 523 customers. BitPay caters to a diverse clientele, including retailers, investment banking firms, and nonprofit organizations. The company offers direct crypto-to-fiat settlements, helping businesses avoid volatility while ensuring seamless integration with existing accounting systems. Its security infrastructure includes two-factor authentication (2FA) and encrypted transactions, making it a trusted option for enterprises looking to accept cryptocurrency payments.CoinsPaidEstablished in 2014, CoinsPaid has grown into a comprehensive crypto payment gateway, processing over 41 million transactions worth 23 billion euros. The company facilitates approximately 8% of all onchain Bitcoin transactions, making it a major player in the crypto payments sector. Supporting over 30 cryptocurrencies, CoinsPaid serves industries such as IT, marketing, financial services, real estate and gambling. The platform offers a business wallet, an over-the-counter (OTC) desk for large-volume transactions and software-as-a-service solutions tailored for crypto integration. CoinsPaid is licensed in Estonia and complies with Know Your Customer (KYC) and Anti-Money Laundering (AML) regulations while undergoing regular independent security audits to maintain its reputation for secure and compliant processing.Coinbase CommerceLaunched in 2018 by Coinbase, Coinbase Commerce enables merchants to accept multiple cryptocurrencies directly into a user-controlled wallet. It provides seamless integration with major e-commerce platforms such as Shopify and WooCommerce, allowing businesses to accept ETH, Litecoin (LTC) and USDC (USDC). Notably, in February 2024, Coinbase Commerce ended support for Bitcoin and other unspent transaction output (UTXO)-based coins. To make Bitcoin payments, users will need a Coinbase account. The decision comes as Coinbase faces challenges in implementing updates to its Ethereum Virtual Machine payment protocol for Bitcoin.While specific market share data is limited, Coinbase Commerce is widely used by small to mid-sized businesses across sectors such as computer software, utilities and telecommunications. The platform offers a straightforward setup with no transaction fees apart from standard network costs, making it an attractive option for businesses looking for a simple crypto payment solution without intermediaries.Binance Pay Binance Pay, introduced by Binance, is a cryptocurrency payment solution that enables merchants and users to conduct transactions using various cryptocurrencies. It supports over 30 cryptocurrencies, including BTC, ETH and BNB (BNB), allowing for versatile payment options. The platform offers zero transaction fees for both merchants and users, making it an attractive option for businesses aiming to integrate crypto payments without incurring additional costs. Binance Pay also emphasizes security by incorporating features such as 2FA and encrypted transactions, ensuring safe and reliable payment processing.Step-by-step guide to set up a crypto payment gateway Despite a run-in with the Lazarus Group last year, CoinsPaid continues to operate as a major crypto payment gateway, maintaining competitive setup costs and fees. As such, this section will walk you through the steps you’d be expected to take when integrating any crypto payment processor, using CoinsPaid’s flow as an example.Request a consultation: Businesses can begin by submitting a request on the CoinsPaid website. A CoinsPaid representative will promptly reach out to schedule a meeting and discuss requirements.Receive a free demo and proposal: The CoinsPaid team provides a detailed demonstration of the system, answers any questions, and prepares a tailored proposal based on the company’s specific needs.Onboarding: To finalize the agreement, businesses must complete the Know Your Business (KYB) verification by submitting the necessary documents for compliance with regulatory standards.Integration: CoinsPaid’s team assists in integrating the payment gateway into the company’s existing infrastructure, ensuring a smooth and efficient setup.Start accepting crypto: Once integration is complete, businesses can begin offering cryptocurrency payments, providing customers with an additional payment option while potentially expanding their market reach.By following these steps, you can effectively integrate CoinsPaid into your business, offering your customers the option to pay with cryptocurrencies. Integrating cryptocurrency payments is a forward-thinking investmentWith lower transaction fees, access to a global customer base and protection from chargebacks, crypto payments provide clear advantages over traditional payment methods.The risks associated with crypto payments — such as volatility, regulatory compliance and security concerns — are easily mitigated by using a trusted payment processor like CoinsPaid, BitPay or Coinbase Commerce. These platforms handle everything from instant fiat conversion to security and compliance, making the transition to crypto seamless and low-risk.With major brands already embracing digital currencies, there’s no reason for small and medium-sized businesses to be left behind. Crypto payments are fast, borderless and cost-effective, making them a no-brainer for any forward-thinking business. Whether you’re a startup looking to gain a competitive edge or an established company seeking new revenue streams, integrating cryptocurrency payments is an investment in the future.This article does not contain investment advice or recommendations. Every investment and trading move involves risk, and readers should conduct their own research when making a decision.
https://cointelegraph.com/news/crypto-payments-for-small-businesses-benefits-risks-and-how-to-get-started

2025-03-18 18:34:36

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Binance CEO Richard Teng denied reports that Binance.US was in deal talks with entities affiliated with US President Donald Trump during a March 18 panel at Blockworks’ 2025 Digital Asset Summit in New York.Teng’s statement reiterated the position taken by Binance’s founder, Changpeng “CZ” Zhao, and Trump, both of whom denied the story last week. On March 13, The Wall Street Journal reported that Binance.US, an independently-operated US cryptocurrency exchange, was discussing selling an equity interest to Trump-affiliated business entities, including a possible deal with World Liberty Financial, the Trump family’s decentralized finance (DeFi) project. “I believe both World Liberty Financial as well as CZ himself have tweeted and denied the reforms, right? So that there’s really nothing else to add,” Teng said during the summit, which was attended by Cointelegraph. Richard Teng speaking at Blockworks’ Digital Asset Summit in New York. Source: CointelegraphRelated: Donald Trump’s memecoin generated $350M for creators: ReportTeng stated that Binance.US is legally and operationally distinct from its larger namesake. “US and dotcom are quite different animals, right? They have different set of shareholders, they have different board of directors and different CEO running the show,” he said. However, Teng did praise Trump, saying that Binance has benefited from the president’s “pro-crypto” policies despite not directly operating in the US. “Last year was a landmark year in that institutions are finally coming on board,” Teng said. “With President Trump coming out with both [a] strategic crypto reserve or asset stockpile, it will force governments around the world […] to look at this space quite seriously.”In a departure from his predecessor, Joe Biden, Trump has said he wants to make America the “world’s crypto capital” and has appointed pro-industry leadership to key regulatory posts. Source: CZPotential conflicts of interestCiting sources familiar with the matter, The Wall Street Journal report mentioned that CZ — who served four months in prison in the US — has been pushing for the Trump administration to grant him a pardon.“It is unclear what form the Trump family stake would take if the deal comes together or whether it would be contingent on a pardon,” the report said.Binance is the world’s largest cryptocurrency exchange, but Binance.US lags Coinbase in the US market. CZ denied the report in an X post published the same day. Trump also denied the report in a post on Truth Social, his social media platform. “The Globalist Wall Street Journal has no idea what they are doing or saying. They are owned by the polluted thinking of the European Union, which was formed for the primary purpose of ‘screwing’ the United States of America,” the president wrote.Trump’s Jan. 18 memecoin launch and his ties to crypto firm World Liberty Financial have upturned norms for US presidents and raised concerns about potential conflicts of interest, experts have said. Magazine: Trump’s crypto ventures raise conflict of interest, insider trading questions
https://cointelegraph.com/news/binance-ceo-reiterates-denial-world-liberty-merger-praises-trump

2025-03-18 17:33:56

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Solana futures (SOL) on the Chicago Mercantile Exchange (CME) went live on March 17, with a trading volume of $12.1 million on day 1, which fell short compared to Bitcoin (BTC) and Ethereum’s (ETH) CME futures debut. CME Crypto futures comparison by Vetle Lunde. Source: X.comVetle Lunde, Head of Research at K33Research, compared the difference between Bitcoin (BTC), Ether (ETH) and Solana (SOL) CME futures trading performances on their launch day, and it is clear that SOL’s CME futures volume and open interest came in far below its competitors. However, Lunde pointed out that if normalized volumes to the market cap are evaluated, SOL’s launch “aligns closer to the two.”Was the SOL CME futures launch a dud?Throughout the current bull market, spot ETF approvals and CME futures contract launches have consistently boosted investor sentiment and put wind behind the sails of various cryptocurrencies. Comparing the normalized volumes adjusted for the market cap differences of BTC, ETH and SOL on their first CME futures trading day provides a fairer comparative analysis.Normalized volume measures trading activity relative to a crypto asset’s market cap, offering a transparent evaluation across different cryptocurrencies. This metric is valuable since it allows an understanding of institutional engagement with respect to a crypto asset’s market cap. Normalized volume comparison. Source: CointelegraphAs shown above, Bitcoin has the highest normalized volume with 0.0319%, while ETH and SOL fell behind with 0.0173% and 0.0166%, respectively. A greater normalized volume suggests higher investor interest per unit or market cap for Bitcoin. Additionally, the similarity between ETH’s and SOL’s normalized volumes (roughly 0.017%) indicates that Solana’s trading activity scale is similar to Ether’s despite the trading volume differences of more than $20 million on day 1 between ETH and SOL’s CME futures. Related: Solana deletes ‘cringe’ ad criticized for being ‘tone deaf’ on gender issuesWill SOL CME futures follow ETH or BTC’s performance?Following the debut of Bitcoin CME futures on Dec. 18, 2017, BTC declined by 26%, dropping from $19,000 to $14,000 by Dec. 31, 2017. The correction continued into 2018, marking the beginning of a collective crypto bear market. Bitcoin, Ethereum and Solana CME launch, price reaction. Source: Cointelegraph/TradingViewEther price registered a rally of 150% to a new all-time high at $4,384, 93 days after the CME futures launch on Feb. 8, 2021. Following a new all-time high, a sharp correction occurred, but the altcoin rallied again toward the end of 2021 to attain its current all-time high at $4,867 in November 2021. Considering the price trends of Bitcoin and ETH, SOL’s price may experience a less enthusiastic rally. The absence of upward price movement after its CME futures launch suggests a lack of investor excitement.However, from a long-term perspective, SOL’s presence in the CME increases the opportunities for Solana's liquidity and price discovery as it attracts institutional engagement. A wider impact could potentially unfold over time as better market conditions and favorable bullish price and protocol revenue projections draw traders’ interest. Related: Bitcoin stalls under $85K— Key BTC price levels to watch ahead of FOMCThis article does not contain investment advice or recommendations. Every investment and trading move involves risk, and readers should conduct their own research when making a decision.
https://cointelegraph.com/news/solana-cme-futures-volumes-reach-12-1-m-was-the-launch-a-dud-or-is-more-to-come

2025-03-18 15:07:26

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Australian crypto broker Swyftx is set to acquire New Zealand crypto exchange Easy Crypto, with one of the CEOs nodding at positive crypto policy changes in the United States. Swyftx CEO Jason Titman said in a March 19 statement that they see “Trump’s policy messaging around crypto as a tailwind” for this deal. He told Cointelegraph that Swyftx’s deal with Easy Crypto was underway before Trump was elected, but now we are on “the cusp of sensible regulation in the US” that will bring liquidity and put pressure on other governments to legislate.“Everyone is so focused on tariffs that they’re skipping the argument that good things are on the horizon for crypto,” Titman said.“The environment for dealmaking is about to improve exponentially, and there is no question that money will move. This deal may be the first, but it won’t be the last.”Following Trump’s inauguration on Jan. 20, some changes in the crypto industry have included several pro-crypto executives in top regulatory roles and a shift in crypto stance by the country’s securities regulator.Titman says the crypto industry has endured a lean few years for mergers and acquisitions activity, partly because crypto CEOs were unwilling to “take the regulatory risk” they saw during the Biden administration.“This hesitation has extended to other markets where regulators have sat on the fence and shown a lack of commitment to introducing clear legislation that supports blockchain and digital assets,” he said.“We expect dealmaking to increase over the next few quarters and then stay elevated after that. Political administrations come and go, but rules tend to have a longer shelf life and that gives businesses the certainty they need to invest.”Swyftx and Easy Crypto will continue to operate as separate platforms following the March 31 acquisition while the teams plan for their integration.Related: Australian regulator’s ‘blitz’ hits crypto exchanges, money remittersThe new business will have a combined workforce of just under 200 employees and operate out of Brisbane, Australia, according to Swyftx and Easy Crypto.Janine Grainger, co-founder and CEO of Easy Crypto, told Cointelegraph that the acquisition is a “natural fit” and would create a new oceanic heavyweight to rival crypto incumbents.“The crypto market has changed rapidly in the last four years. As the market has matured, there has been a trend of the market consolidating and strong regional and global players emerging,” she said.An August 2024 Swyftx survey estimates there are 3.9 million Australians who own crypto out of a population of 26 million. Meanwhile, research by Web3 consumer research firm Protocol Theory, in partnership with Easy Crypto, estimates almost 50% of New Zealand’s 5.2 million population are either current crypto investors or are considering investing in the future.An estimated 3.9 million Australians currently own cryptocurrency, compared to 4.5 million in 2023. Source: SwyftxIn comparison, the US Fed estimates roughly 18 million people in America own or use crypto.Grainger says there “is increasing interest in leveraging our industry” to help drive economic growth amid strong support for the industry in New Zealand. “There is strong support for crypto locally — close to 50% of New Zealanders own, have owned or are considering future investment into crypto,” she said.“The region is undergoing increasing levels of regulation, which will help to drive trust, much like other regions.” Magazine: CryCrypto fans are obsessed with longevity and biohacking: Here’s why
https://cointelegraph.com/news/swyftx-buys-new-zealand-crypto-exchange-citing-trump-tailwind

2025-03-18 02:30:34

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Offchain Labs, the developers of Ethereum layer-2 network Arbitrum, have announced a partnership with the Arbitrum Foundation to launch a new incubator-style program called Onchain Labs.According to a March 17 post by Offchain Labs, the new incubator is aimed at rapidly adding to Arbitrum’s existing decentralized application (DApp) offerings with a particular focus on supporting “innovative and experimental” projects. Offchain Labs said this support will primarily come in the form of product and go-to-market advice and won’t provide engineering or other operational resources. It also added that while it’s possible — there’s no guarantee that its venture capital arm, Tandem, will purchase any of these project tokens in public markets. Source: Offchain LabsOffchain Labs said the continued development of Arbitrum over the past few years has seen it grow to become one of the “most performant ecosystems in the space.” But now, with the launch of Onchain Labs, the focus will shift to building out the network’s application landscape.“Through Onchain Labs, we’re dedicating resources to support developers looking to rapidly expand the application layer by ideating with them from the ground floor to bring the best user experiences to Arbitrum,” the company said. “With Offchain Labs’ support, we’re confident we’ll see industry-leading applications that are uniquely possible on Arbitrum.”However, it’s not just about building more applications.The firm has also said it will only support projects that launch fairly. Offchain Labs claimed the industry’s recent trend toward extractive zero-sum launches “stands in stark contrast to the core ethos of crypto,” adding that “as an industry, we can — and must — do better.”It will seek to counter this trend by only working with teams that commit to equitable launches, which it said was “essential for fostering community alignment. There’s no reason why all participants in an ecosystem can’t succeed together.”The rise of layer 2s is creating problems for EthereumArbitrum was one of the earliest layer 2s (L2s) on Ethereum, but there’s been an explosion in new L2 networks since Ethereum’s Dencun upgrade last year. According to L2Beat, there are now over 70 layer 2s and many more on the way. This has created some issues for Ethereum, according to some industry professionals. The first is the fracturing of the Ethereum ecosystem, as different DApps run on different layer 2s, which may or may not be interoperable.“We currently have too many, the more L2s we build, the less interoperability we will have, creating other problems around infrastructure,” Vitali Dervoed, the co-founder and CEO of perpetual exchange Composability Labs, told Cointelegraph in August. Related: DigiFT launches Invesco private credit token on Arbitrum“Developers might have good intentions when building the next super-fast, low-gas-fee, easy-to-use blockchain, but in the long run, it’s counterproductive as it creates a more fragmented ecosystem,” he added. Another issue is that lower-cost layer 2s like Base and Arbitrum are eating into Ethereum’s revenue and impacting the layer 1’s market cap. It comes on the same day Standard Chartered downgraded its 2025 price target for Ethereum by a whopping 60%, from US$10,000 to just US$4,000, with the bank’s head of digital asset research, Geoff Kendrick, saying, “We expect ETH to continue its structural decline.” Kendrick cited the impact of low-cost layer 2s like Base and Arbitrum as one of the key drivers of this decline. “Layer 2 blockchains were meant to improve ETH scalability, but we estimate that Base (a key layer 2) has removed USD 50bn from ETH’s market cap.”Magazine: ETH may bottom at $1.6K, SEC delays multiple crypto ETFs, and more: Hodler’s Digest, March 9 – 15
https://cointelegraph.com/news/arbitrum-devs-launch-incubator-style-program-onchain-labs

2025-03-17 20:15:53

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Asset manager Hashdex has amended its S-1 regulatory filing for its cryptocurrency index exchange-traded fund (ETF) to include seven altcoins in addition to Bitcoin (BTC) and Ether (ETH), according to a March 14 filing. The revision proposes adding seven specific altcoins to the index ETF — Solana (SOL), XRP (XRP), Cardano (ADA), Chainlink (LINK), Avalanche (AVAX), Litecoin (LTC), and Uniswap (UNI). As of March 17, the Hashdex Nasdaq Crypto Index US ETF holds only Bitcoin and Ether. Previous versions of Hashdex’s S-1 suggested the possibility of adding other cryptocurrencies in the future but didn’t specify which ones.According to the filing, the proposed altcoins additions “are decentralized peer-to-peer computer systems that rely on public key cryptography for security, and their values are primarily influenced by market supply and demand.”The revised filing signals how ETF issuers are accelerating planned crypto product rollouts now that US President Donald Trump has instructed federal regulators to take a more lenient stance on digital asset regulation. As part of the transition, the ETF plans to switch its reference index from the Nasdaq Crypto US Index — which only tracks BTC and ETH — to the more comprehensive Nasdaq Crypto Index, the filing said. The asset manager did not specify when it plans to make the change. The US Securities and Exchange Commission (SEC) must sign off on the proposed changes before they can take effect. Hashdex plans to add seven altcoins to its index ETF. Source: SECRelated: US crypto index ETFs off to slow start in first days since listingAccelerating approvalsIn December, the SEC gave the green light to both Hashdex and Franklin Templeton’s respective Bitcoin and Ether index ETFs. Both ETFs were listed in February, initially drawing relatively modest inflows, data shows. They are the first US ETFs aiming to offer investors a one-stop-shop diversified crypto index. Asset manager Grayscale has also applied to convert its Grayscale Digital Large Cap Fund to an ETF. Created in 2018, the fund holds a crypto index portfolio comprising BTC, ETH, SOL and XRP, among others. Industry analysts say crypto index ETFs are the next big focus for issuers after ETFs holding BTC and ETH listed in January and July, respectively.“The next logical step is index ETFs because indices are efficient for investors — just like how people buy the S&P 500 in an ETF. This will be the same in crypto,” Katalin Tischhauser, head of investment research at crypto bank Sygnum, told Cointelegraph in August.In February, the SEC acknowledged more than a dozen exchange filings related to cryptocurrency ETFs, according to records.The filings, submitted by Cboe and other exchanges, addressed proposed rule changes concerning staking, options, in-kind redemptions and new types of altcoin funds.Magazine: US enforcement agencies are turning up the heat on crypto-related crime
https://cointelegraph.com/news/hashdex-amends-s1-crypto-index-etf-seven-altcoins

2025-03-17 19:23:23

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Privacy protocol Nym has launched NymVPN, which it describes as the “world’s most secure VPN” and says will help protect users from government, corporate and AI surveillance.The release comes amid an increasingly hostile global environment for privacy-focused products — one that is seeing governments crack down on privacy projects and demand backdoors to encryption.The decentralized VPN, which launched on March 13, uses the Nym protocol’s “mixnet” to keep users fully anonymous and ensure no metadata can be linked to any specific user, according to a press release shared with Cointelegraph.Halpin and Nym security adviser Chelsea Manning sat down with Jonathan DeYoung, co-host of Cointelegraph’s The Agenda podcast, to discuss the release, the importance of privacy and how Nym plans to navigate what seems to be an increasingly precarious privacy space.How NymVPN’s mixnet worksHalpin and Manning appeared on The Agenda podcast back in December 2023 to discuss what was then their upcoming VPN project. Halpin explained that mixnets work by sending encrypted data across multiple servers while also adding “a bit of fake data” to throw off whoever may be attempting to surveil the traffic, such as an advanced AI algorithm.“Each packet is like a card, and it like shuffles the pack of cards and then sends it to the next server and sends it to the next server,” Halpin explained.This is in contrast with traditional centralized VPNs, where everything a user does is routed through the VPN provider’s servers and where customers must put their trust in a specific company. Halpin said:“If you send your VPN data to ExpressVPN, NordVPN and Mullvad VPN, they know everything about you. They know your IP address. They connect to your billing information. They know what websites you’re going to. It’s actually kind of scary.”Developing privacy software amid global crackdownsA few months after their Agenda podcast appearance, Alexey Pertsev, a developer for crypto mixer Tornado Cash, was convicted of money laundering charges and sentenced for his role in developing the privacy protocol — a move that sent shockwaves through the industry.According to Halpin, Nym is less likely to face the same sort of legal trouble because it’s not financial infrastructure. “In all countries except a few repressive ones, VPNs are legal, at least for now,” he said. “They fall under what’s called third-party intermediary lack of liability. [...] We are not liable, at least under US law, for shipping bits from point A to point B.”Related: AI makes it even easier for governments to surveil you — Nym CEOThe nature of operating a fully decentralized VPN that can be used entirely anonymously means there is no way to prevent anyone from using it for whatever reasons they want to. Manning said it is not Nym’s role to be “the arbiter or the determiner of what is and is not nefarious.” She added:“It’s not possible in a fully decentralized environment to stop them [bad actors]. Like we don’t have a way to. If we did, I mean, we would be centralized.”More recently, various governments have pushed developers to implement backdoors in their encrypted products. Apple withdrew its end-to-end-encrypted iCloud service from the UK market after the government demanded a backdoor, while the US Federal Bureau of Investigation recently told Forbes it wants “responsibly managed encryption,” where “U.S. tech companies can provide readable content in response to a lawful court order.”Halpin and Manning said that if a government were to ever attempt to shut NymVPN down or arrest its developers, the Nym network is decentralized, so it should be able to continue running as usual. “In theory, we should be able to get run over with a car, and the network would keep operating,” Halpin said.Who will use NymVPN?The Nym team was in Ukraine in 2024 to demo the VPN and present it to the Ukrainian government, and a representative from the humanitarian NGO Doctors Without Borders spoke at the March 13 launch event. Halpin also shared that the team has had conversations with people in Syria.The Nym team demos NymVPN in Ukraine. Source: NymHowever, an anonymous and decentralized VPN is just that — anonymous and decentralized. This means the team behind it has no way of knowing who is actually using it and what they are using it for, only that it is being used.As Manning put it, “One of the problems with that question is that if people are using the technology, if they don’t tell us that they’re using the technology, we won’t know.”Magazine: Cypherpunk AI — Guide to uncensored, unbiased, anonymous AI in 2025
https://cointelegraph.com/news/nym-vpn-launches-fully-decentralized-vpn-amid-privacy-crackdown

2025-03-17 17:52:23

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Bitcoin (BTC) has largely stayed above $80,000 since March 11, indicating that the bulls are not waiting for a deeper correction to buy. However, the failure to propel the price above $86,000 shows that the bears have not given up and continue to sell on rallies.CoinShares’ weekly report shows that cryptocurrency exchange-traded products (ETPs) witnessed $1.7 billion in outflows last week. That takes the total five-week outflows to $6.4 billion. Additionally, the streak of outflows has reached 17 days, marking the longest negative streak since CoinShares records began in 2015.Daily cryptocurrency market performance. Source: Coin360It’s not all gloom and doom for the long-term investors. CryptoQuant contributor ShayanBTC said that investors who purchased Bitcoin between three and six months ago are showing an accumulation pattern. Historically, similar behavior has “played a crucial role in forming market bottoms and igniting new uptrends.” Will buyers succeed in catapulting Bitcoin above the overhead resistance levels? How are the altcoins placed? Let’s analyze the charts to find out.S&P 500 Index price analysisThe S&P 500 Index (SPX) is in a strong corrective phase. The fall to 5,504 on March 13 sent the relative strength index (RSI) into the oversold territory, signaling a possible relief rally in the near term.SPX daily chart. Source: Cointelegraph/TradingViewThe bears will try to halt the recovery in the 5,670 to 5,773 resistance zone. If they succeed, it will signal that the sentiment remains negative and traders are selling on rallies. That heightens the risk of a fall to 5,400. The bulls are expected to defend the 5,400 level with all their might because a drop below it may sink the index to 5,100.On the upside, a break and close above the 20-day exponential moving average (5,780) will signal strength. The index may then climb to the 50-day simple moving average (5,938).US Dollar Index price analysisThe weak rebound off the 103.37 support in the US Dollar Index (DXY) suggests that the bears have kept up the pressure.DXY daily chart. Source: Cointelegraph/TradingViewSellers are trying to sink the index below 103.37. If they can pull it off, the decline could extend to 102 and thereafter to 101.Conversely, if the price turns up from the current level and breaks above 104, it will signal that buyers are trying to make a comeback. The index could rise to the 20-day EMA (105), which is likely to attract sellers. If buyers do not cede much ground to the bears, the prospects of a break above the 20-day EMA increase. The index could then rally to the 50-day SMA (107).Bitcoin price analysisBitcoin has been trying to form a higher low in the near term, building strength to cross above the 200-day SMA ($84,112).BTC/USDT daily chart. Source: Cointelegraph/TradingViewThe positive divergence on the RSI suggests that the bearish momentum is weakening. If buyers drive the price above the 20-day EMA ($85,808), the BTC/USDT pair could rise to the 50-day SMA ($92,621).Contrary to this assumption, if the price turns down sharply from the 200-day SMA, it will indicate that the bears are trying to flip the level into resistance. The pair may slide to $80,000 and next to $76,606.Ether price analysisEther (ETH) has been trading between $1,963 and $1,821, signaling a lack of aggressive buying at current levels.ETH/USDT daily chart. Source: Cointelegraph/TradingViewIf the price dips below the $1,821 to $1,754 support zone, it will indicate the resumption of the downtrend. The ETH/USDT pair may then nosedive to the next significant support at $1,550.This negative view will be invalidated in the near term if the price turns up and breaks above the 20-day EMA ($2,107). The pair could ascend to the 50-day SMA ($2,514), where the bears are likely to sell aggressively. However, if the bulls pierce the 50-day SMA resistance, the pair may rally to $2,857.XRP price analysisXRP (XRP) turned down from the 50-day SMA ($2.51) on March 15, indicating that the bears are active at higher levels.XRP/USDT daily chart. Source: Cointelegraph/TradingViewThe 20-day EMA ($2.34) has flattened out, and the RSI is near the midpoint, indicating a balance between supply and demand. The XRP/USDT pair could remain stuck between the 50-day SMA and $2 for some time.If the price turns up from the current level and breaks above the 50-day SMA, it will clear the path for a potential rally to $3. Instead, a break and close below $2 will complete a head-and-shoulders pattern. The pair may then tumble to $1.28.BNB price analysisBNB (BNB) turned up from the 20-day EMA ($598) and rose above the 50-day SMA ($620), indicating that the correction may be ending.BNB/USDT daily chart. Source: Cointelegraph/TradingViewThe 20-day EMA has started to turn up, and the RSI has risen into positive territory, indicating a slight advantage to the bulls. If the price sustains above the 50-day SMA, the BNB/USDT pair could rally to $686 and eventually to $745.The 20-day EMA is the critical support to watch out for on the downside. A break and close below the 20-day EMA will signal that the bears have seized control. The pair may then descend to the strong support at $500.Solana price analysisSolana (SOL) turned down from the 20-day EMA ($139) on March 16, signaling that bears are aggressively defending the level.SOL/USDT daily chart. Source: Cointelegraph/TradingViewThe SOL/USDT pair could drop to $120 and then to $110, where buyers are expected to step in. If the price rebounds off the support zone, the bulls will again try to drive the SOL/USDT pair above the 20-day EMA. If they manage to do that, the pair could climb to $180.This positive view will be invalidated in the near term if the price continues lower and breaks below the support zone. That may start a downward move to $100 and subsequently to $80.Related: Ethereum onchain data suggests $2K ETH price is out of reach for nowDogecoin price analysisDogecoin (DOGE) has been gradually rising toward the 20-day EMA ($0.19), which is an important near-term resistance to watch out for.DOGE/USDT daily chart. Source: Cointelegraph/TradingViewIf the price turns down sharply from the 20-day EMA, it suggests that bears are selling on every minor rally. That heightens the risk of a break below the $0.14 support. If that happens, the DOGE/USDT pair could plunge to $0.10.Contrarily, a break and close above the 20-day EMA indicates that the selling pressure is reducing. The pair could rise to the 50-day SMA ($0.23) and later to $0.29. A break and close above $0.29 suggests that buyers are back in the driver’s seat.Cardano price analysisCardano (ADA) has been trading below the 20-day EMA ($0.76) since March 8, but the bears have failed to sink the pair to the uptrend line. This suggests that selling dries up at lower levels.ADA/USDT daily chart. Source: Cointelegraph/TradingViewBuyers will have to drive the price above the moving averages to start a sustained recovery. The ADA/USDT pair could climb to $1.02, where the bears may again mount a strong defense.Contrary to this assumption, if the price turns down from the moving averages, it will suggest that bears remain in control. That increases the likelihood of a drop below the uptrend line. If that happens, the pair may plummet to $0.50.Pi price analysisPi (PI) has been gradually sliding toward the $1.23 support, which is likely to attract buying from the bulls.PI/USDT daily chart. Source: Cointelegraph/TradingViewIf the price rebounds off $1.23 with strength, the PI/USDT pair could attempt a move back toward $1.80. Sellers are expected to pose a strong challenge at $1.80, but if the bulls prevail, the pair could rally to $2 and thereafter to $2.35.Contrarily, if the price turns down from $1.80, it will signal a range formation. The pair may swing between $1.23 and $1.80 for a while. Sellers will strengthen their position on a break below $1.23. The pair may then collapse to the 78.6% retracement level of $0.72.This article does not contain investment advice or recommendations. Every investment and trading move involves risk, and readers should conduct their own research when making a decision.
https://cointelegraph.com/news/price-analysis-3-17-spx-dxy-btc-eth-xrp-bnb-sol-doge-ada-pi

2025-03-17 03:47:02

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The Bank of Korea says it is taking a “cautious approach” to potentially including Bitcoin as a foreign exchange reserve.Officials from the Korean central bank said in a March 16 response to a written inquiry that they have not looked into a potential Bitcoin (BTC) reserve, citing high volatility. Responding to a question from Representative Cha Gyu-geun of the National Assembly’s Planning and Finance Committee, central bankers said that they have “neither discussed nor reviewed the possible inclusion of Bitcoin in foreign exchange reserves, adding that “a cautious approach is needed,” according to the Korea Herald.“Bitcoin’s price volatility is very high,” the central bank noted, before adding that “in the case of cryptocurrency market instability, transaction costs to cash out Bitcoins could rise drastically.”Over the past 30 days, Bitcoin prices have swung wildly between $98,000 and $76,000 before settling at current levels of around $83,000 in a 15% decline since Feb. 16, according to CoinGecko. The decision comes amid increasing global discussions on the role of crypto assets in national financial strategies, sparked by US President Donald Trump’s executive order earlier this month establishing a strategic Bitcoin reserve and digital asset stockpile. At a seminar on March 6, crypto industry lobbyists, and some members of Korea’s Democratic Party urged the country to integrate Bitcoin into its national reserves and develop a won-backed stablecoin. However, the Bank of Korea emphasized that its foreign exchange reserves must have liquidity and be immediately usable when needed, as well as a credit rating of investment grade or higher, criteria that Bitcoin does not meet, in its opinion. Professor Yang Jun-seok of Catholic University of Korea concurred, stating “it is appropriate for foreign exchange to be held in proportion to the currencies of countries with which we trade,”Professor Kang Tae-soo from the KAIST Graduate School of Finance commented on the US being likely to leverage stablecoins rather than BTC to maintain dollar hegemony before adding, “Whether the IMF will recognize stablecoins as foreign exchange reserves in the future is important.”Related: Democrat lawmaker urges Treasury to cease Trump’s Bitcoin reserve plansEarlier this month, South Korea’s financial regulator examined the Japanese Financial Services Agency’s legislative trend toward crypto assets as it mulls lifting a ban on crypto exchange-traded funds in the country.Magazine: ETH may bottom at $1.6K, SEC delays multiple crypto ETFs, and more: Hodler’s Digest
https://cointelegraph.com/news/south-korea-central-bank-cautious-stance-potential-bitcoin-reserve

2025-03-17 02:16:52

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Crypto platform Debiex has been ordered to pay around $2.5 million after it failed to respond to a US Commodity Futures Trading Commission suit accusing it of being a romance scam ring.Arizona federal court Judge Douglas Rayes on March 13 granted the CFTC’s earlier motion for summary judgment in its case and ordered Debiex to pay back around $2.26 million it stole from its customers, along with a civil penalty of nearly $221,500.Judge Rayes said there was no evidence that Debiex’s failure to respond to the CFTC was the result of “excusable neglect.”The CFTC sued Debiex in January 2024, saying its staff ran a so-called “pig butchering” scam, where they initiated romantic relationships with customers over social media to gain trust to convince them to invest in the platform.The scheme hooked five victims who deposited around $2.3 million in total onto Debiex, which the purported trading platform stole, the CFTC said.A highlighted excerpt of Judge Rayes’ order summarizing the CFTC’s case against Debiex, Source: CourtListenerThe CFTC also accused Zhāng Chéng Yáng of being a “money mule” for Debiex, whose crypto wallets were used to accept and steal victims’ funds.Judge Rayes granted a CFTC motion for default judgment against Zhāng on March 12, finding it adequately alleged he controls a crypto wallet with OKX “that received digital assets to which he had no legitimate claim.”He said OKX was “voluntarily preserving” the crypto in Zhāng’s account and ordered its contents, consisting of $5.70 worth of Tether (USDT) and nearly 63 Ether (ETH) worth around $119,500, to be transferred to an unnamed victim.The CFTC said in its January 2024 complaint that Debiex’s scheme saw its unknown managers target potential victims through social media to lure them to websites it had created marketing itself as a “Blockchain Network Decentralized perpetual contract trading platform” where users can conduct futures trading and “Mining transactions.”Related: Four suspects charged in home invasion of streamer Amouranth Debiex’s staff would present as females and built a rapport with victims through “continuous and repeated messaging and sharing purported pictures of themselves” while claiming to be “highly successful digital asset commodities traders,” the CFTC said.Once an account was created and the customers sent over their crypto, the CFTC said Debiex would share “fictitious information” about customer balances, trading positions and profits.“All of this information was most likely false,” the CFTC said. “The evidence shows that the Customers’ digital assets were simply sent to numerous digital asset wallets in an attempt to obfuscate their destination.”Magazine: SEC’s U-turn on crypto leaves key questions unanswered
https://cointelegraph.com/news/cftc-wins-pig-butchering-case-crypto-platform-debiex

2025-03-16 17:36:31

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Telegram founder and free speech advocate Pavel Durov was born on Oct. 10, 1984, in St. Petersburg, Russia, and demonstrated an early knack for computer science, culminating in the entrepreneur establishing several successful online social media platforms.While studying at Saint Petersburg State University, Durov became inspired by the success of the Facebook social media site and its founder, Mark Zuckerberg — eventually starting the social media platform VKontakte (VK) in 2006.VK is a platform similar to Facebook but geared toward Russian speakers, and it is one of the largest social media platforms in the world.A picture of Pavel Durov as a teenager. Source: CointelegraphThe meteoric growth of the platform eventually attracted the attention of state regulators, who pressured the company to censor the platform and comply with government requests to provide user information.Durov refused to comply with these requests out of a principled stance on freedom of speech, online expression, and user privacy, which caused the tech founder to be ousted from the company he started in 2014.However, the tech founder was already hard at work on his next venture before departing VK, a messaging platform that has become a household name in crypto — Telegram.Related: TON Society celebrates Pavel Durov leaving France as free speech winPavel and his brother Nikolai Durov launch TelegramThe Durov brothers launched Telegram in 2013. Since then, the platform has garnered over 950 million users worldwide due to its privacy-enhancing technology, which encrypts messages end to end.Telegram also has robust features that include decentralized web surfing, a torrent of mini-apps and games.The platform also has a symbiotic relationship with The Open Network (TON) — a separate blockchain network that has become a staple for users of the messaging application.The Telegram founder discussing messaging applications at TechCrunch’s Disrupt conference. Source: TechCrunchAccording to Forbes, the Telegram founder has a net worth of $17.1 billion as of March 16, 2025 — mainly through his ownership of Telegram.In March 2024, the entrepreneur announced that Telegram was nearing profitability and was considering an initial public offering to become a publicly traded company.Pavel Durov is a libertarian and has infused the liberty-minded ethos into Telegram. In a January 2025 post, Durov wrote:"I am proud that Telegram has supported freedom of speech long before it became politically safe to do so. Our values don’t depend on US electoral cycles."The Telegram founder's libertarian ethos, commitment to free speech, and privacy eventually put the entrepreneur in the crosshairs of the French government.Pavel Durov arrested in France amid cries of politically-motivated censorshipPavel Durov was arrested in France on August 24, 2024, due to a lack of content moderation on Telegram, and subsequently charged by French prosecutors with complicity with illegal activities and refusal to communicate with authorities.Durov speaks with independent news host Tucker Carlson about free speech and privacy shortly before his arrest in August 2024. Source: Tucker CarlsonShortly after his arrest, the Telegram founder posted bail and was released from custody on the condition that he remain in France during the legal proceedings.The arrest sparked widespread outrage among the crypto community and free speech advocates worldwide, who condemned the French government for using state power in an attempt to coerce Pavel Durov into censoring the platform or giving the government the Telegram encryption keys.French President Emmanuel Macron was accused of orchestrating a politically motivated arrest, a claim the French leader denied, which only prompted more backlash from the crypto community.On March 15, Pavel Durov reportedly left France and headed to Dubai, where Telegram is headquartered, after receiving permission from French law enforcement officials to leave the country.However, it is unclear how long Durov will remain in Dubai, as the global fight for freedom of speech, privacy, and autonomy continues.Magazine: Did Telegram’s Pavel Durov commit a crime? Crypto lawyers weigh in
https://cointelegraph.com/news/free-speech-online-privacy-pavel-durov-rise-top

2025-03-16 06:19:50

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Toncoin Open Interest (OI) has jumped 67% over the past 24 hours following Telegram founder Pavel Durov’s reported departure from France, where he had been required to stay since his arrest six months ago.On March 15, Toncoin (TON) OI — a metric tracking the total number of unsettled Toncoin derivative contracts such as options and futures — reached $169 million, representing a 67% increase from the previous day when the reports of Durov’s departure first surfaced, according to CoinGlass data.Toncoin open interest reaches highest level in 42 daysIt is the highest level of OI in Toncoin since Feb. 1, when it was sitting at $171.49 million. TON is The Open Network’s native cryptocurrency and is the exclusive blockchain infrastructure for Telegram’s Mini App ecosystem.Edit the caption here or remove the textTON’s price jumped 17% over the same period. Toncoin is trading at $3.45 at the time of publication, according to CoinMarketCap data. Trading resource account Crypto Billion said in a March 15 X post that Toncoin is “showing signs of a potential long-term accumulation phase as it stabilizes near key support levels.”Meanwhile, approximately $18.8 million in long positions are at risk of liquidation if TON’s price retraces back toward the $3 mark it was trading at on March 14.Toncoin open interest also surged after arrest in 2024The court reportedly allowed Durov to travel to Dubai, a city with no extradition agreements with many countries.The market’s reaction signals how significant this case is to the crypto industry, with many worried that Durov’s arrest in August 2024 in France could set a precedent for cracking down on other privacy-focused services. He was accused of running a platform that enables illicit transactions.Related: Bitget predicts TON ‘de-Telegramization’ in the next 2 yearSimilarly, when Durov was arrested in August 2024, TON’s OI also surged. Following the news of Durov’s arrest on Aug. 24, 2024, TON’s OI spiked 32% over the following 24 hours, alongside its price falling almost 12%.On Jan. 21, Telegram announced it would cease support for all blockchains other than The Open Network for its messenger services.Magazine: Vitalik on AI apocalypse, LA Times both-sides KKK, LLM grooming: AI Eye
https://cointelegraph.com/news/toncoin-open-interest-surgest-telegram-founder-pavel-durov

2025-03-13 13:29:46

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Representatives of US President Donald Trump’s family have reportedly held talks with Binance about potentially acquiring a stake in the crypto exchange.Binance reached out to Trump’s family representatives in 2024, offering to strike a business deal as part of a plan to resume Binance.US operations in the country, The Wall Street Journal reported on March 13.Citing sources familiar with the matter, the report mentioned that Binance’s billionaire founder Changpeng Zhao — who served four months in prison in the US — has been pushing for the Trump administration to grant him a pardon.“It is unclear what form the Trump family stake would take if the deal comes together or whether it would be contingent on a pardon,” the report said.World Liberty Financial among deal optionsAccording to WSJ, a potential opportunity could be a scenario where Trump takes the stake in Binance or proceeds with the deal through World Liberty Financial, a Trump-backed crypto venture launched in September.Trump has emerged as the US first “crypto president,” launching his Official Trump (TRUMP) memecoin days before returning to the White House on Jan. 20, 2025. A similar memecoin subsequently came from Trump’s wife, Melania, while Trump’s son, Eric Trump, has been actively pushing for Bitcoin (BTC) and crypto adoption as well.Cointelegraph approached Binance for a comment regarding the report on the alleged deal but did not receive a response by publication.This is a developing story, and further information will be added as it becomes available.Magazine: Trump’s crypto ventures raise conflict of interest, insider trading questions
https://cointelegraph.com/news/trump-family-had-talks-for-stake-in-binance-crypto-exchange-report

2025-03-13 09:56:01

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Bitcoin’s price was up 3% after constant drawdowns since the end of January. The top cryptocurrency managed to rebound above $80,000 after a brief decline below the range on March 11. Bitcoin weekly chart. Source: Cointelegraph/TradingViewAfter the US core Consumer Price Index (CPI) came in lower than expected at 3.1% on March 12, Bitcoin's market structure now sees the possibility of a quick bullish turnaround. Bitcoin liquidity clusters at $84K-$85KAfter Bitcoin's (BTC) price tumbled on March 9, it rebounded to test the overhead resistance zone between $84,000 and $85,000 three times, spurring traders to aggressively build short positions in this range.The liquidation heatmap data suggested that more than $300 million in short positions were piled in this price region, which would be liquidated if the price moved above the $85,000 resistance. Bitcoin 1-week liquidation heatmap. Source: CoinGlassWith a lack of downside liquidity below $77,000, the probability of BTC moving toward upside liquidity increased. Moreover, triggering liquidations above $85,000 could fuel further bullish momentum, allowing Bitcoin to form a higher high and turn this level into new support. A CME Bitcoin futures gap from the previous weekend also remained unfilled between $85,000 and $86,000. With a 100% record of six gaps filled in the past four months, this setup further increased the chances of flipping the overhead resistance into support at $85,000. Bitcoin 4-hour chart. Source: Cointelegraph/TradingViewIf this happens, the next major resistance lies at $90,000, which could liquidate over $1.6 billion in short positions for a retest of the $95,000 resistance level above, i.e., a 12% jump from the current price. Related: Bitcoin must secure weekly close above $89K to confirm bottom has passedBitcoin analyst Mark Cullen underlined a similar outlook for Bitcoin but warned that the price continues to move “correctively,” implying further sideways movement before a short squeeze. On the contrary, Valeria, a crypto analyst and funded trader, said that BTC was showing signs of distribution near the $85,000 range, which is short-term bearish. The trader highlighted that the BTC price might thread lower below $80,000 before a bullish breakout occurs.Coinbase, Binance diverge on orderbook trendsSpot traders on Binance have been aggressively selling over the past few days, according to data from Aggr.trade, with selling pressure peaking during the local lows at $76,650. Conversely, Coinbase spot buyers placed bids here, leading to BTC’s rebound above $80,000. Binance, Coinbase orderbooks. Source: Aggr.tradeOn March 12, a similar discrepancy was observed, with Binance spot traders selling near the $85,000 resistance, as Coinbase traders defended the price at $81,000 during the early US trading session, avoiding further downside. Related: Crypto trading volume slumps, signaling market exhaustion: AnalysisWhile Coinbase has led BTC’s rally in the past, an opposing stance between the two leading exchanges might slow BTC’s momentum to move swiftly through the resistance levels. Thus, for Bitcoin to reclaim higher highs at $85,000, $90,000 and $95,000 over the next couple of weeks, spot trading activity between the two major exchanges may need more collective direction.This article does not contain investment advice or recommendations. Every investment and trading move involves risk, and readers should conduct their own research when making a decision.
https://cointelegraph.com/news/will-bitcoin-price-reclaim-95k-before-end-march

2025-03-13 05:04:31

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Blockchain payment provider Ripple received full regulatory approval from the Dubai Financial Services Authority (DFSA) to offer cross-border crypto payment services in the United Arab Emirates (UAE).The company announced on March 13 that it had secured its DFSA license, allowing it to operate in the Dubai International Financial Center (DIFC), a UAE free-economic zone with its own tax policies and regulatory framework.The announcement came almost six months after the company announced its receipt of an in-principle approval of the DFSA license. On Oct. 1, 2024, Ripple revealed that it was working to become licensed by the DFSA as it aimed to roll out its digital asset infrastructure in the UAE. Enabling blockchain-based global payments for UAE businessesWith this license, Ripple can now provide its global blockchain-based payment solutions to businesses across the UAE. The company said this allows it to cater to financial institutions looking for partners to help them use digital assets in real-world applications. In a news release sent to Cointelegraph, Ripple CEO Brad Garlinghouse said the UAE is “well-placed” to benefit from tech and crypto innovation, thanks to its early leadership and supportive environment:“We are entering an unprecedented period of growth for the crypto industry, driven by greater regulatory clarity around the world and increasing institutional adoption.”Ripple also reported that it had seen increased demand across the Middle East for cross-border payments. The company said the demand was not limited to crypto-native firms but also came from traditional financial institutions. Related: UAE to introduce legal framework for DAOsRipple becomes the first crypto payment provider in the DIFCWith DFSA approval, Ripple has become the first blockchain-enabled payments provider to operate within DIFC’s free zone, according to DIFC CEO Arif Amiri.”We are thrilled that Ripple is deepening their commitment to Dubai by securing a DFSA license that makes them the first blockchain-enabled payments provider in DIFC,” he said.The license allows Ripple to tap into opportunities in the UAE and the broader MENA region, he added.Magazine: The Sandbox’s Sebastien Borget cringes at the word ‘influencer’: X Hall of Flame
https://cointelegraph.com/news/ripple-crypto-payments-license-dubai-regulator-difc

2025-03-11 20:32:49

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A member of the Texas legislature has proposed a bill that could limit the amount local and state authorities invest in cryptocurrency as a reserve asset.In a bill filed on March 10, Texas Representative Ron Reynolds proposed the state’s comptroller not be allowed to invest more than $250 million of its Economic Stabilization Fund — otherwise known as a “rainy day” fund — in Bitcoin (BTC) or other cryptocurrencies. The legislation also suggested that Texas municipalities or counties could not invest more than $10 million in crypto.HB 4258, filed by Texas Representative Ron Reynolds. Source: Texas legislatureThe proposed bill followed the Texas Senate passing legislation on March 6 to establish a strategic Bitcoin reserve in the state. The SB 21 bill seemingly could allow the Texas comptroller to have no limit on purchasing BTC for a reserve, based on the most recent draft. Related: Bitcoin reserve backlash signals unrealistic industry expectationsThe plan for a strategic Bitcoin reserve in Texas was one of many separate bills proposed in US state governments following the inauguration of President Donald Trump and Republican lawmakers winning control of the US House of Representatives and Senate. Texas Lieutenant Governor Dan Patrick said in January that the state’s legislative priorities for 2025 would include a proposal to establish a Texas Bitcoin Reserve.Is there a partisan divide on state and federal crypto plans?It’s unclear if Rep. Reynolds, a Democrat, intended to support the BTC reserve bill introduced by State Senator Charles Schwertner, a Republican, or propose restrictions in the event the legislation becomes law. If passed and signed by Governor Greg Abbott, the bill would take effect on Sept. 1. Cointelegraph reached out to Rep. Reynolds’ office for comment but did not receive a response at the time of publication. Though Trump signed an executive order on March 7 to create a federal “Strategic Bitcoin Reserve” and “Digital Asset Stockpile,” many legal experts have questioned the US president’s authority to enact specific policies through EOs. Wyoming Senator Cynthia Lummis reintroduced legislation on March 11 to codify the proposed BTC reserve into law in the Senate.Magazine: Elon Musk’s plan to run government on blockchain faces uphill battle
https://cointelegraph.com/news/texas-lawmaker-bitcoin-reserve-legislation

2025-03-11 15:33:49

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Investment banking firm Cantor Fitzgerald has selected Anchorage Digital and Copper as its Bitcoin custodians and collateral managers as it launches its new digital asset financing business targeting institutional investors.In a March 11 announcement, Cantor Fitzgerald said it is rolling out its Bitcoin (BTC) financing business with $2 billion in initial capital to help institutional investors borrow against their crypto holdings. Anchorage Digital and Copper will safeguard clients’ digital assets by acting as custodians and collateral managers, the company said. Source: Anchorage DigitalAnchorage Digital is an institutional cryptocurrency platform that operates the only federally chartered digital asset bank in the United States.Copper is a crypto custodian backed by Barclays, the British multinational financial institution.Copper CEO Amar Kuchinad said Cantor Fitzgerald’s new offering will help institutional investors “diversify their portfolios” into digital assets. He cited the “growing demand for sophisticated financing solutions” in the Bitcoin space. Cantor Fitzgerald unveiled plans for its BTC financing business in July of last year “to provide leverage to investors who hold Bitcoin,” the company said at the time.Since then, the company has broadened its exposure to the digital asset market, including acquiring a 5% stake in stablecoin issuer Tether.Cantor Fitzgerald has more than $5 billion in assets under management, based on the latest regulatory filings.Related: Bitcoin miner CleanSpark to join S&P SmallCap 600 IndexInstitutional Bitcoin demand remains strong despite market volatilityThe successful launch of US spot Bitcoin exchange-traded funds (ETFs) more than one year ago revealed the huge pent-up demand for BTC among institutional investors. By February, Bitcoin exchange reserves had fallen to more than two-year lows thanks to institutional buying pressure.Despite the recent market sell-off that was triggered by the US-led tariff war and recession fears, institutional Bitcoin investments continue to grow, with more Wall Street firms moving into the custody business. As Forbes reported, Citi and State Street are planning to offer crypto custody services by 2026. A separate Bloomberg report on March 11 revealed that German exchange group Deutsche Boerse is planning to launch Bitcoin and Ether (ETH) custody beginning next month.Magazine: SEC’s U-turn on crypto leaves key questions unanswered
https://cointelegraph.com/news/cantor-fitzgerald-anchorage-digital-copper-bitcoin-custodians

2025-03-10 16:45:47

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Bitcoin miner CleanSpark will join an important benchmark for US small-cap stocks, underscoring the company’s recent string of profitability despite industry volatility following the April 2024 halving. Beginning March 24, CleanSpark’s stock will be included in the S&P SmallCap 600 Index. As the name implies, the index measures the performance of small US companies that meet specific liquidity and stability criteria. As of March 2025, the index’s constituents must have a market capitalization of between $1.1 billion and $7.4 billion, maintain a public float of at least 10% of shares outstanding, and have positive trailing earnings for four consecutive quarters. CleanSpark CEO Zach Bradford said the company’s inclusion in the small-cap index demonstrates “the value of being a pure play, vertically integrated Bitcoin mining company,” which makes “exposure to our model more broadly available.”Source: CleanSparkCleanSpark’s profits surged to $241.7 million, or $0.85 per share, in the final quarter of 2024, up from just $25.9 million a year earlier. Company-wide revenues jumped 120% on a year-over-year basis to $162.3 million.In February, the company further bolstered its Bitcoin (BTC) stockpile by 6% and now holds 11,177 BTC on its books. Only four other publicly traded companies own more Bitcoin.Related: Monthly Bitcoin production drops as miners fight rising hashrateBTC miners under pressureBitcoin miners have seen their revenues decline since the April 2024 halving event, forcing several industry players to diversify their business models. Several are pivoting toward artificial intelligence data centers, which can generate higher revenue than traditional mining. In September, Hive Digital executives Frank Holmes and Aydin Kilic told Cointelegraph that repurposing Nvidia GPUs for AI tasks could generate up to $2.50 per hour in revenues, up from just 0.$12 per hour for crypto mining.For this reason, “institutions are much more interested in us with our AI than Bitcoin,” Holmes said.Bitcoin miners are increasingly turning toward AI applications to boost revenues. Source: VanEckOther mining companies are turning to mergers and acquisitions to reduce mining costs and increase hashrate, according to an August report by JPMorgan. The Wall Street bank singled out companies like Riot Platforms and CleanSaprk for increasing their M&A activity in the post-halving environment. Meanwhile, “Capital-constrained miners like IREN and [Cipher] focused on securing greenfield opportunities, which require less immediate capital,” JPMorgan said.Magazine: How Chinese traders and miners get around China’s crypto ban
https://cointelegraph.com/news/cleanspark-join-sp-small-cap-600-index

2025-03-06 16:40:22

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Onchain data from early March suggests Bitwise’s allocation into Maple Finance’s products topped $5 million.
https://cointelegraph.com/news/bitwise-makes-first-institutional-defi-allocation

2025-03-06 12:21:42

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Brazilian fintech unicorn Meliuz has reportedly purchased Bitcoin worth millions of dollars as part of its new treasury strategy to maximize long-term shareholder value.
https://cointelegraph.com/news/brazil-unicorn-meliuz-bitcoin-treasury-strategy