Alternative News for You

by Amy Sheehan on April 22, 2025 at 3:55 am

If you’ve got an unexpected bill to pay or large expense and you don’t have the money to cover it, here’s what you can do. 

on April 22, 2025 at 3:52 am

In-form world number five Hannah Green will lead a seven-strong Australian challenge at women's golf's first major of the year, the Chevron Championship in Texas.

by Talissa Siganto on April 22, 2025 at 3:50 am

Prosecutors told the court Brisbane woman Kylie Truswell-Mobbs injected her husband, who was in the final stages of Motor Neurone Disease, with pain medication for "the sole purpose of killing him".  

by Andrew McGarry on April 22, 2025 at 3:37 am

Victorian athletics officials say they may have to review the benchmark time used for handicapping the Stawell Gift and other races, after the failure of Lachlan Kennedy and Gout Gout to reach the final.

by Cointelegraph by Martin Young on April 22, 2025 at 3:35 am

Crypto markets avoided the fallout caused by US President Donald Trump’s latest salvo against Federal Reserve Chair Jerome Powell, which saw the US stock market slump and the dollar continue to weaken over uncertainty. Stock markets across the United States ended April 21 in the red, with the S&P 500 dropping 2.4%, the tech-heavy Nasdaq slipping 2.5%, and the Dow Jones losing 2.5%, or nearly 1,000 points, according to Google Finance. The S&P 500 has now declined by more than 12% since the beginning of the year, and the Nasdaq is down almost 18% in the US tech stock exodus. US stock heatmap. Source: TradingViewThe stock slide follows escalating tension between Donald Trump and Jerome Powell and growing concern over the impact of trade tariffs. “‘Preemptive Cuts’ in Interest Rates are being called for by many,” Trump wrote on his social media platform Truth Social on April 21. “With Energy Costs way down, food prices substantially lower, and most other ‘things’ trending down, there is virtually No Inflation,” he added. Trump has reiterated his call for lowering interest rates, which Powell, who has been labelled as “Mr. Too Late” and a “major loser” by the POTUS, has kept high at 4.5%. Source: Donald TrumpLast week, Powell took a swipe at Trump’s trade tariffs, saying they could lead to a dangerous economic mix of rising prices and slowing growth, or “stagflation.”Trump responded with a call to fire the central bank chair, stating at the time that his “termination cannot come fast enough.”  The Fed is expected to maintain its wait-and-see policy approach at its May 7 meeting, with interest rate markets predicting just a 13% chance of a rate cut, according to CME Fed Watch. US dollar devaluation continues The US Dollar Index (DXY) — a measure of the strength of the greenback against a basket of leading currencies — has also slipped more than 10% so far this year. This week it fell to a three-year low below 98 on April 21, according to TradingView. “Everyone needs and wants a weaker dollar to service their dollar debts,” commented Real Vision founder and CEO Raoul Pal on April 22. “This is the purest form of global liquidity and is the largest driver of global M2 [money supply] currently,” he added.  Related: US dollar goes 'no-bid' — 5 things to know in Bitcoin this week Meanwhile, crypto markets have held on to weekend gains with total capitalization remaining at $2.83 trillion at the time of writing. Bitcoin (BTC) is keeping digital asset markets buoyed, hitting a four-week high of $88,500 on April 22. “Amid one of the most turbulent periods for global markets in years, Bitcoin is showing impressive resilience,” commented Bitfinex analysts in a recent market update. Magazine: Altcoin season to hit in Q2? Mantra’s plan to win trust: Hodler’s Digest

by Matt Martino on April 22, 2025 at 3:15 am

Unauthorised pamphlets attacking independent MP Allegra Spender have been circulating in her electorate, calling her "weak" on antisemitism.

on April 22, 2025 at 2:50 am

The woman's male partner's alleged involvement with organised crime is being investigated, said police, with two children known to the woman remaining in hospital under police guard.

by Cointelegraph by Stephen Katte on April 22, 2025 at 2:49 am

Indian crypto exchange WazirX, which was hacked for $234 million last July, says it is on track to restart its operations pending a May 13 court decision on its restructuring proposal and user compensation plan. If Singapore’s High Court gives the nod, WazirX parent company Zettai PTE Ltd can restart the exchange and begin its compensation scheme for affected users within 10 business days, WazirX said in an April 21 update to X.WazirX lost $234 million of crypto from a Safe Multisig wallet mid-July 2024 in an attack since attributed to North Korean hackers, forcing them to temporarily pause all crypto and Indian rupee withdrawals on the platform.Source: WazirX“Zettai has completed all prior required steps, and the next key step is the sanction hearing, which the Singapore High Court has scheduled for May 13, 2025,” the firm said.“This hearing is essential for the Scheme to become legally effective. While we’ve worked to stay aligned with the previously shared timelines, court proceedings operate independently, and we respect that process.”On April 7, more than 90% of the voting creditors voted in favor of the platform’s post-hack restructuring plan, which involved the issuance of recovery tokens.The tokens would be repurchased using net profits from the exchange and could yield 75% to 80% of users’ account balances at the time of the cyberattack.WazirX had warned that repayments from the $235 million hack could be delayed until 2030 if creditors didn’t approve its proposed restructuring plan. Singapore’s High Court gave Zettai permission to convene a creditors’ meeting to propose a possible remedy for users and a plan to get the exchange back online in January.Related: Bybit CEO: Two-thirds of Lazarus-hacked funds remain traceable“We understand the eagerness around the platform restart and truly appreciate your continued patience,” WazirX said."Since the beginning, we have communicated that the first distribution and restart would occur within the April-May 2025 window.”Supreme Court of India dismisses WazirX users petition A separate April 16 court judgment from the Supreme Court of India dismissed a petition filed by 54 victims of the hack, who sought legal action against WazirX, Shetty, Binance and custody provider Liminal. Petitioners also asked the court to audit WazirX’s accounts.  Justices B.R. Gavai and Augustine Masih rejected the petition, saying the court could not rule on the case because it was a matter of crypto policy, which the court doesn't have the authority to rule on. Gavai and Masih advised the petitioners to approach a regulatory body or other relevant authority to hear the matter instead.Magazine: Uni students crypto ‘grooming’ scandal, 67K scammed by fake women: Asia Express

by David Chen on April 22, 2025 at 2:47 am

A bright green ball of fire that caused a sonic boom and lit up the night sky from southern Queensland to New South Wales overnight was most likely a meteor, says an astrophysicist.

by Henry Hanson and Daniela Intili on April 22, 2025 at 2:44 am

After years of silence, the International Cricket Council has announced a task force and monetary fund to help support the exiled Afghan women's team, with hopes the money will match the sum given to the men's team.

by Elizabeth Byrne on April 22, 2025 at 2:33 am

The thief stole a bike, a laptop, a saxophone and a guitar. But it all came tumbling down when the owner of a stolen iPad used the Find My iPad function. 

by Jane Rocca on April 22, 2025 at 2:31 am

There are 23 artists who join forces in the TarraWarra Biennial where, tucked into the Victorian bush, art is giving voice to stories silenced by colonisation.

by Cointelegraph by Max Moeller on April 22, 2025 at 2:21 am

Key takeawaysStaking Solana allows you to earn passive income through staking rewards while participating in network governance.There is no minimum requirement for staking Solana, but the practical minimum is around 0.01 SOL.All you need to start staking Solana is a SOL-compatible wallet.Staking is considered one of the safer ways to participate in crypto ecosystems.Solana is a blockchain network known for its fast transaction speeds and extensive ecosystem of decentralized applications (DApps). It also combines the proof-of-stake (PoS) and proof-of-history (PoH) consensus mechanisms, allowing you to stake its native currency, SOL (SOL), to earn rewards. This Solana staking guide walks you through the Solana staking process and explains why staking could be a smart move, especially if you’ve been wondering how to earn passive income with SOL.What is Solana staking?Solana staking consists of locking SOL into a cryptocurrency wallet. The process rewards you in the following ways:Staking rewards: You earn rewards for staking SOL — a percentage based on how much you’ve staked, Solana’s current inflation rate (which fluctuates and is set to decrease every year), the total amount of SOL staked on the network, and how long you’ve been staking overall.Governance: Staking gives you a say in governance, allowing you to vote on proposals that shape the Solana network. This approach prioritizes those with the largest investments, assuming they’ll act in the network’s best interest.Network security: Staking increases security to create a stable investment environment. By staking, you’re directly contributing to Solana’s health and longevity. That said, if a few wallets stake large amounts, one could argue they’re centralizing the network.If you earn rewards staking SOL, they’re paid out every two days — a period known as an epoch. When staking SOL, you’re delegating funds to a Solana representative (a validator.) Validators process transactions, produce blocks, and vote on network proposals. It’s essential to choose a validator that aligns with your vision for Solana, as they’ll be voting in your stead, much like an elected official in traditional governments.Validator votes are stake-weighted. The more stake a validator has, the more weight their vote carries. Solana validator vs. delegator: By delegating funds to a validator, you become a delegator. The validator’s job is to vote in the network’s best interest. It’s your job to choose reputable validators that keep the network safe. Did you know? Solana is one of the fastest blockchains in terms of transactions per second (TPS). It currently averages around 1,128 TPS, with a theoretical max of 65,000 TPS. Staking Solana for beginnersThere are a few things to consider as you prepare to stake Solana.Understanding staking methodsOn the surface, staking is quite simple; however, there are actually two staking methods — each affects your SOL liquidity.Liquid staking: Earn rewards while retaining control of your SOL’s liquidity. When you liquid stake, you receive liquid staking tokens (LSTs) equivalent to the amount of SOL you stake. You can use those LSTs in Solana’s decentralized finance (DeFi) applications as you would if you weren’t staking funds.Native staking: Native staking is the original method that locks your funds away, allowing you to earn rewards and participate in governance. However, you cannot use your funds without pulling them out via the unstaking process. This process is beginner-friendly but limits what you can do with your SOL.The difference between the two is flexibility. Native staking is less flexible but easier for beginners, while liquid staking retains your liquidity for use in DeFi and other applications.Solana staking tax 2025In the United States, Solana staking rewards are subject to income and capital gains tax.Income tax: You’re required to pay income tax on the value of SOL at the moment you unstake it. You also pay income tax on staking rewards when you gain the ability to withdraw them.Capital gains tax: You’re required to pay capital gains tax once you sell or convert that SOL.How to stake SolanaNow, let’s get into the Solana staking tutorial. Choose a Solana walletFirst, you need a wallet to store and stake your SOL. Most Solana wallets have built-in staking capabilities. This guide uses the Phantom Wallet for demonstration purposes.Download Phantom Wallet from its official website by clicking the “Download” button.Next, click “Create a new wallet.”You’ll be asked to continue with an email or a seed phrase wallet. Click “Create a seed phrase wallet.”Enter a password, and proceed to the recovery phrase screen. Write down your recovery seed phrase on piece of paper, check the confirmation box, and click “Continue.”Create a username, click “Continue,” and you’ll have created a Solana wallet. Fund the walletFund Phantom with SOL by either transferring SOL from another wallet or buying it with a debit/credit card via the “Buy” button.Phantom partners with companies such as Robinhood or Topper to facilitate card payments, allowing you to buy from within the wallet interface.After funding your wallet, it’s time to start staking.Stake your SolanaOpen your token list and click on “Solana.”Select “Start earning SOL.”Now, choose between “Liquid Staking” or “Native Staking.”Liquid staking is typically done via a third-party provider. Phantom integrates with Jito’s liquid staking platform, enabling you to receive JitoSOL LSTs when you liquid stake.If you choose to liquid stake, Phantom will detail your estimated annual percentage yield (APY) and how much JitoSOL you’ll receive in return for staking.JitoSOL will appear in your token list.JitoSOL will appear in your token list.If you choose native staking, you must commit to a validator. Phantom will list validators in order of how much SOL is staked to them and their estimated APY.Select a validator, enter how much SOL you’d like to stake, and click “Stake.” The network will create your staking account, and you’ll start earning rewards in a few days.Congratulations, you’re successfully staking SOL.Did you know? Validators who act out of turn or experience significant downtime will have their rewards slashed, also reducing the rewards of those who stake with the validator. How to unstake SolanaWhether you choose liquid or native staking, here’s how to unstake your funds. You might unstake if:You want to convert SOL: If you want to swap or sell your SOL, you must unstake the funds first.You want to stake elsewhere: If another network catches your eye, you’ll have to unstake your Solana funds to transfer them for staking on another network.Validators act up: If your validator acts outside the network’s best interest, you may want to unstake and delegate to another validator.Unstake natively staked tokensTo unstake natively staked tokens, click on “Solana” in your token list.Next, click on “Your stake.”Select the validator you want to unstake from and click “Unstake.” Then, select “Withdraw Stake” to pull the funds back into your wallet. The validator will show “Inactive” once you’ve unstaked.Unstake LSTsTo unstake your LSTs, select them in your token list.Click “More” in the options list, then select “Unstake.”If you’re using Jito as your LST provider, clicking unstake will take you to Jito’s platform. Here, you have two options: unstake immediately or delayed unstaking.Unstake immediately: Immediate unstaking costs a small fee, based on the amount you are unstaking. You can pay additional fees to prioritize your transaction or tip validators. Finally, you can adjust your slippage tolerance.Delayed unstaking: Delayed unstaking can range from one day to a week, depending on network congestion, but you pay a much lower fee. You also don’t have to account for slippage, as the network won’t prioritize your transaction.Choose whichever option works best for you, and click “Unstake SOL.” The funds will appear in your wallet.Did you know? You can stake Solana with as little as 0.01 SOL, making it one of the most accessible PoS blockchain networks.Is Solana wallet staking safe?Staking Solana is relatively safe, but even if you know how Solana staking works, there are risks to be aware of:Market volatility: Solana is subject to market volatility as much as any other cryptocurrency. The value of your staked SOL can fluctuate based on market conditions.Validator behavior: Validators can act out of favor with the network and may experience “slashing.” Slashing penalizes the validator’s rewards, which affects your rewards as well. Your initial investment remains safe, however.Cyberthreats: Blockchain networks are exposed to bad actors 24/7, meaning they can be vulnerable to hacks at any time, putting your funds at risk.Past downtime: Solana has had various outages over the years, often due to congestion. While this doesn’t necessarily mean your funds are at risk, bad actors could target the network during its weak moments.So, while staking on Solana offers potential rewards, it’s important to understand that staking always carries risk. As with any investment, there’s a possibility of loss, so it’s crucial to evaluate your risk tolerance and take necessary precautions.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.

by Simon Smale on April 22, 2025 at 2:19 am

Cam McEvoy has only properly swam a full 50 metres three times since winning Olympic gold in Paris. In Brisbane, he claimed another national title, further vindicating his innovative approach.

by Cointelegraph by Jody McDonald on April 22, 2025 at 2:09 am

Mantra founder and CEO John Patrick Mullin has started unstaking 150 million of his Mantra (OM) tokens in preparation for sending them to a burn address in an attempt to restore the token’s value by tightening supply. Mantra announced on April 21 that the unstaking process had begun, and would be completed by April 29, at which point Mullin's Mantra (OM) tokens will be sent to the burn address and permanently removed from circulating supply.Source: John Patrick MullinMullin said it was a “first step in rebuilding trust with the community, but far from the last.” Mantra said it was also in talks with “key ecosystem partners” about burning a further 150 million OM to bring the total burn amount to 300 million.With 150 million fewer OM, Mantra’s total supply will decline to 1.67 billion, and its number of staked tokens will drop by over 26% from 571.8 million OM to 421.8 million OM. Returns will also be boosted: “This strategic burn will lower the bonded ratio from 31.47% to 25.30%, resulting in an increase in staking APR,” Mantra said.Token burn initiative follows OM price collapseTwo days after Mantra’s rapid 90% price collapse on April 13, Mullins posted to X that he intended to burn all of the staked tokens he was allocated at the blockchain’s mainnet genesis in October. These vested “team tokens” were due to be unlocked starting in 2027.He also ran a poll on X about the proposed burn of his tokens, with alternate options such as extended vesting or unlocking tokens at milestones — as a “temperature check of people’s thoughts.”The poll had attracted almost 9,000 votes at the time of writing, and a number of commenters criticized it as an attempt to reverse course on the burn commitment. Source: John Patrick MullinThe burn is connected to an “OM Token support plan” Mantra announced following the price crash, which will also feature a token buyback. Mullin said the buyback program was also “well underway.”Related: How Mantra’s OM token collapsed in 24 hours of chaosMantra also released a tokenomics dashboard to increase transparency as it seeks to regain the trust of the community. At the time of writing, the OM price remains down around 90% from its value of $6.30 earlier in April, trading at below $0.55.Magazine: Financial nihilism in crypto is over — It’s time to dream big again

by Cointelegraph by Brayden Lindrea on April 22, 2025 at 1:53 am

A governance token for the Reserve Protocol stablecoin, launched by a firm previously advised by sworn-in SEC Chair Paul Atkins, has surged over 13% after crypto exchange Coinbase announced that it will list the token. Atkins was an early adviser for the stablecoin firm around the time it launched in 2019, according to Reserve Protocol’s CEO Nevin Freeman. He is no longer consulting at the firm.The Reserve Rights (RSR) token is the governance token aimed at ensuring the stability of the Reserve Protocol’s stablecoin, Reserve Dollar (RSV). In an April 21 X post, Coinbase said it would list the RSR token on the Ethereum layer-2 network Base on April 22 at 9 am Pacific Time (4 pm UTC). Source: Coinbase AssetsAtkins news bumps up RSR’s price even furtherThe Coinbase listing, combined with the news of Atkins officially being sworn in as SEC chair on April 21, pushed the token up 13.6% to a near two-month high of $0.00835 on April 22, CoinGecko data shows. Prior to Atkins being sworn in, RSR had already risen double digits to around $0.0081.It is currently the 143rd largest coin by market capitalization at $464 million.Atkins said he will be focused on ensuring the US is the “best and most secure place in the world to invest and do business,” while ensuring sufficient consumer protection measures are in place.It comes two weeks after the Senate confirmed Atkins as SEC chair in a 52-44 vote on April 9. Related: Crypto in a bear market, rebound likely in Q3 — CoinbaseAtkins takes over from Mark Uyeda, who has been the SEC’s acting chair since Jan. 20, when former chair Gary Gensler stepped down.Since US President Donald Trump returned to office, the SEC created a Crypto Task Force to consult with the industry on regulation and dropped several crypto-related investigations and enforcement actions undertaken by the Gensler-led SEC.Atkins is expected to take a more crypto-friendly approach, telling a Senate confirmation hearing in March that a priority of his at the SEC would be to provide a firm regulatory foundation for crypto assets through a “rational, coherent and principled approach.” Magazine: Memecoin degeneracy is funding groundbreaking anti-aging research

by Jordanna Schriever on April 22, 2025 at 1:19 am

A man accused of the shooting murder of South Australian police officer Jason Doig has been found mentally incompetent by the state's Supreme Court.

on April 22, 2025 at 1:07 am

Australian Catholics have paid tribute to Pope Francis at mass on Tuesday morning around the country. Australia's political and religious leaders are also paying their respects.

by Baz Ruddick on April 22, 2025 at 12:34 am

Hinchinbrook MP Nick Dametto says he was "unaware" drinking full-strength beer on one of Palm Island's northern islands was not permitted.

by Charmaine Manuel on April 22, 2025 at 12:32 am

Richmond footballer Noah Balta has been ordered to adhere to a curfew as part of his sentence for assaulting a man in a Mulwala car park last year.

on April 21, 2025 at 11:58 pm

Gymnastics great Simone Biles ties with Serena Williams by winning her fourth Laureus Sportswoman of the Year award, while pole-vault legend Mondo Duplantis gets his first.

by Sam Bradbrook on April 21, 2025 at 11:56 pm

Three local councils in South Australia have been passing motions questioning vaccines, but health experts say they are based on misinformation and heighten community risk.

by Cointelegraph by Brayden Lindrea on April 21, 2025 at 11:53 pm

Update: April 22 at 12:35am UTC: This story has been updated to include more details of Paul Atkins being sworn in as the SEC’s chair.Paul Atkins has officially been sworn in as the 34th chairman of the US Securities and Exchange Commission.The April 21 announcement comes nearly two weeks after Atkins’ position was confirmed by the US Senate in a 52-44 vote on April 9.“I am honored by the trust and confidence President Trump and the Senate have placed in me to lead the SEC,” said Atkins, who served as an SEC commissioner between 2002 and 2008.“As I return to the SEC, I am pleased to join with my fellow Commissioners and the agency’s dedicated professionals to advance its mission to facilitate capital formation; maintain fair, orderly, and efficient markets; and protect investors.””Together we will work to ensure that the U.S. is the best and most secure place in the world to invest and do business.”Atkins is widely expected to lead a more crypto-friendly SEC than former chair Gary Gensler under the Biden administration.Source: CointelegraphHis confirmation was reportedly delayed due to several financial disclosures that he needed to file as a result of marrying into a billionaire family. Some of those financial disclosures reportedly included up to $6 million worth of crypto-related investments, including crypto custody platform Anchorage Digital and blockchain tokenization platform Securitize.Atkins has taken over from acting chair Mark Uyeda, who helped the SEC establish a Crypto Task Force in January, aimed at strengthening rapport between the commission and industry players.The SEC has also dismissed several crypto probes and enforcement actions undertaken by the Gensler-led SEC in recent months, including cases involving Coinbase, Consensys, Gemini and Uniswap.Related: Crypto industry is not experiencing regulatory capture — AttorneyThe Atkins-led SEC currently has over 70 crypto-related exchange-traded fund applications to decide on this year, Bloomberg reported on April 21.“Everything from XRP, Litecoin and Solana to Penguins, Doge and 2x Melania and everything in between,” Bloomberg ETF analyst James Balchunas said in an X post. “Gonna be a wild year.”The recent surge in crypto ETF filings reflects a “spaghetti cannon approach” from issuers testing which products the new SEC leadership might approve, fellow Bloomberg ETF analyst James Seyffart said in February.“Issuers will try to launch many many different things and see what sticks,” Seyffart said.Magazine: SEC’s U-turn on crypto leaves key questions unanswered

by Ben Knight on April 21, 2025 at 11:50 pm

Recent polls have shown the opposition leaders in Australia and Canada moving from a strong position to become election underdogs in recent months. There's one major contributing factor.

by Matt Garrick on April 21, 2025 at 11:24 pm

Phil Scott was a prominent anti-fracking activist prior to running for the NT seat of Solomon, with Coalition frontbencher Jacinta Nampijinpa Price accusing him of behaving "like a petulant child".

by Dannielle Maguire on April 21, 2025 at 11:18 pm

Speculation is swirling about who could be the new leader of the Catholic church. But the secretive nature of papal elections means it's hard to pick a single frontrunner. 

by Chela Williams and Bridget McArthur on April 21, 2025 at 11:01 pm

Organic waste in several WA shires is going straight to landfill despite the tip tasked with processing it receiving significant funding to deal with FOGO.  

on April 21, 2025 at 10:38 pm

The lawsuit filed in the federal court accuses the US government of attempting to "gain control of academic decision-making at Harvard".

by Cointelegraph by Turner Wright on April 21, 2025 at 10:20 pm

A member of the House of Representatives has proposed legislation aimed at stopping investors from using the US territory of Puerto Rico as a crypto tax haven.According to an April 21 Bloomberg report, New York Representative Nydia Velázquez introduced the Fair Taxation of Digital Assets in Puerto Rico Act, a bill that could change existing laws in the territory to require certain investors to pay local and federal taxes on capital gains, including from digital assets. The legislation would reportedly add text to Puerto Rico’s Internal Revenue Code, making income from cryptocurrencies subject to federal tax laws.“This wave of crypto investors hasn’t helped Puerto Rico’s recovery or strengthened the local economy,” said Rep. Velázquez, according to Bloomberg. “Instead, it’s driven up housing costs, pushed out local residents, and added pressure to an island where nearly 40% of people live in poverty — all while costing the federal government billions in lost tax revenue.”Puerto Rico is well known as a tax haven for many people in the crypto industry since the territory began allowing exemptions in 2012 under Act 20 and Act 22 of the Tax Incentives Code — later consolidated as Act 60. The island has attracted investors, including Pantera Capital founder Dan Morehead, venture capitalist Brock Pierce, and online influencer Logan Paul.Related: NFT trader faces prison for $13M tax fraud on CryptoPunk profitsMissing out on crypto tax revenueRep. Velazquez’s office reportedly said Puerto Rico could lose roughly $4.5 billion in revenue from 2020 to 2026 due to the tax incentives in place. In contrast, Puerto Rico Governor Jenniffer González-Colón proposed extending Act 60, set to expire in 2035, to the end of 2055, but requiring applicants to be subject to a 4% capital gains tax rate, smaller than the typical range up to 37% in the US.It’s unclear whether the legislation proposed by Rep. Velazquez, a Democrat, would have enough political support to pass in the Republican-controlled House or Senate. Both chambers will likely consider floor votes for stablecoin legislation and a crypto regulatory framework in the coming months. Magazine: XRP win leaves Ripple and industry with no crypto legal precedent set

by Sundance on April 21, 2025 at 10:13 pm

President Trump and First Lady Melania participate in an annual tradition at the White House, the Easter Egg Roll. . *Travel day tonight.  See you in the morning. :)) /SD   Posted in Christian Values, Melania Trump, President Trump The post President Trump and First Lady Melania Participate in Easter Egg Roll at White House appeared first on The Last Refuge.

by Lottie Twyford, Jessica Ross, and Janel Shorthouse on April 21, 2025 at 10:12 pm

Tewantin man Bradley Donald Towle, 41, allegedly behind yesterday's fatal crash and a string of carjackings, has been charged with 15 offences. He will appear in court tomorrow.

by Samantha Goerling and Rosemary Murphy on April 21, 2025 at 10:00 pm

The woman was with her children and heading to a popular fishing spot when she fell down a gully in Torndirrup National Park.

by Ria Andriani on April 21, 2025 at 10:00 pm

Why musicians need to practise, how to get motivated and how to incorporate it into your family’s daily routine.

by Cointelegraph by Cointelegraph on April 21, 2025 at 9:50 pm

Today in crypto, Paul Atkins has been officially sworn in as SEC chief, taking over for acting chair Mark Uyeda. New filings reveal crypto companies among donors to US President Donald Trump's inauguration and the Ethereum Foundation is entering a new phase as Vitalik Buterin steps back to focus on research.Paul Atkins, nominated by Trump, sworn in as SEC chairPaul Atkins has officially been sworn in as the 34th chairman of the US Securities and Exchange Commission.The April 21 announcement comes nearly two weeks after Atkins’ position was confirmed by the US Senate in a 52-44 vote on April 9.Source: US House Committee on Financial Services Republicans“I am honored by the trust and confidence President Trump and the Senate have placed in me to lead the SEC,” said Atkins, who served as an SEC commissioner between 2002 and 2008.Atkins is widely expected to lead a more crypto-friendly SEC than former chair Gary Gensler under the Biden administration.Consensys, Solana, Uniswap CEO donated to Trump's $239M inauguration fundNew filings from the Federal Election Commission (FEC) reveal that several cryptocurrency firms and their executives made significant contributions to US President Donald Trump’s inauguration fund after the results of the 2024 election. According to FEC filings made public on April 20 by the Trump-Vance Inaugural Committee, Uniswap CEO Hayden Adams donated more than $245,000, Solana Labs donated $1 million, and software firm Consensys sent $100,000 in January to support the then-president-elect’s inauguration. Many major crypto firms had previously announced their support of Trump through donations to the inaugural fund, including Coinbase, Ripple Labs, Kraken, Ondo Finance, and Robinhood.Altogether, the fund reported more than $239 million in net donations between Nov. 15 and April 20 from companies and individuals. These included $1 million from McDonald’s, $1 million from Meta, $1 million from Apple CEO Tim Cook, $1 million from OpenAI CEO Sam Altman, and various contributions from Delta Air Lines, ExxonMobil, FedEx, Nvidia, PayPal, Target, and Coca-Cola. Jan. 9 contribution from Uniswap CEO Hayden Adams to Trump-Vance inauguration fund. Source: FECSince Trump took office on Jan. 20 and appointed Mark Uyeda as acting chair of the US Securities and Exchange Commission (SEC), the agency has dropped multiple investigations and enforcement actions against crypto firms, including those that donated to the president’s 2024 campaign or inauguration fund. In February, Uniswap reported that the SEC had dropped its probe into the firm, and Consensys founder Joseph Lubin said the agency had agreed to end a separate lawsuit. Ethereum Foundation shifts focus to user experience, layer-1 scalingThe Ethereum Foundation, the nonprofit organization developing the Ethereum ecosystem, is shifting its focus to user experience and layer-1 scaling challenges following its March leadership reshuffle. On April 21, the Ethereum Foundation co-executive director Tomasz Stańczak shared an X post detailing how the organization has changed since its change in leadership structure.Stańczak said the change aims to give Ethereum co-founder Vitalik Buterin more time for research and exploration rather than dealing with day-to-day tasks and crisis management.“Each time Vitalik shares insights or communicates a direction, he accelerates major long‑term breakthroughs,” he wrote.Stańczak added that Buterin’s recent posts had advanced promising avenues and helped realign the community around the organization’s core values.On April 20, Buterin proposed a change in the Ethereum Virtual Machine’s (EVM) contract language to improve the efficiency and speed of the blockchain’s execution layer. Stańczak said that while Buterin’s proposals will “always carry weight,” they are supposed to start conversations and encourage progress in different research areas. The executive said the community can either refine or reject the ideas. 

by Cointelegraph by Alex O’Donnell on April 21, 2025 at 9:38 pm

Coinbase has listed futures contracts for the XRP token on its US derivatives exchange, the cryptocurrency platform said on April 21.The contracts are overseen by the US Commodity Futures Trading Commission (CFTC) and offer traders “a regulated, capital-efficient way to gain exposure to one of the most liquid digital assets,” the company said in a post on the X platform.Coinbase’s XRP (XRP) futures include standard contracts representing 10,000 XRP and retail-oriented “nano” contracts representing 500 XRP each, or approximately $1,000 as of April 21, according to regulatory filings.  The contracts are the latest crypto futures to launch on Coinbase’s derivatives exchange, which also features Solana (SOL) and Hedera (HBAR) futures contracts, both added in February. Source: CoinbaseRelated: Coinbase in talks to buy derivatives exchange Deribit: ReportBurgeoning market segmentSince 2024, US exchanges — including Coinbase, Robinhood and Chicago Mercantile Exchange — have been expanding crypto futures offerings in response to strong demand from retail and institutional investors. Futures contracts are standardized agreements to buy or sell an underlying asset at a future date. They are popular for hedging and speculation because they let traders take long and short positions, often with leverage. Coinbase lists derivatives tied to some 92 different assets on its international exchange and approximately two dozen in the US, according to its website. Its US-traded products include contracts tied to memecoins, such as Dogecoin (DOGE), and commodities, such as oil and gold. Coinbase's stock performance vs. the S&P 500. Source: JPMorganIn December, Coinbase said derivatives trading volumes soared roughly 10,950% in 2024. The exchange is reportedly in talks to buy Deribit in a bid to expand its derivatives footprint.Coinbase launched its US derivatives exchange in 2022, bringing cryptocurrency futures — including retail-oriented “nano” contracts — to tens of millions of US users.Launched in 2012, XRP Ledger is among the oldest blockchain networks and specializes in payments and decentralized finance (DeFi) applications for institutions. As of April 21, XRP’s market capitalization stands at approximately $120 billion, according to CoinMarketCap. In March, the US Securities and Exchange Commission (SEC) dropped a years-long lawsuit against XRP Ledger’s developer, Ripple, for alleged securities law violations.Magazine: Crypto ‘more taboo than OnlyFans,’ says Violetta Zironi, who sold song for 1 BTC

by Cointelegraph by Christopher Tepedino on April 21, 2025 at 9:10 pm

Astra Fintech, a global blockchain payments provider, has launched a $100 million fund to support the Solana ecosystem's growth throughout Asia, according to an April 21 announcement. Through the fund, Astra Fintech plans to deploy capital to accelerate projects and form partnerships with developers, companies, and regulators. The fund’s base of operations will be in South Korea, a country Solana's venture arm invested in after the collapse of the Terra ecosystem in 2022.The fund will focus on projects and developers working on PayFi solutions — a conglomeration of systems that use blockchain technology to facilitate payments. Astra’s main suite of products attempts to blend traditional finance with digital currencies.According to data from Electric Capital, Solana and Solana Virtual Machine (SVM) blockchains are currently within the top 10 blockchains for developer activity, only behind Ethereum.In 2021, Solana created a $5 million development fund to spur projects in Southeast Asia. The region is a hotspot for Web3 games, a crypto use case that has proliferated on Solana due to the blockchain’s fast speeds and low transaction costs.Solana, with its ups and downsThe Solana ecosystem has had quite the ride in 2025. Its native token, Solana (SOL), rose to an all-time high of $293.31 on Jan. 19, two days after US incoming President Donald Trump launched a memecoin on the network. It trades at $136.61 at this writing, a fall of 53.4% since then. However, crypto executives and companies continue betting on the Solana ecosystem. On April 7, a group of former Kraken executives acquired Janover, aiming to transform the real estate firm into a de facto Solana treasury. Just weeks later, Upexi — a brand management and supply chain company — saw its shares surge 630% on April 21 after announcing a similar strategy. Meanwhile, Canada approved SOL staking in early April, and ARK Invest has since added exposure to Solana funds through its tech-focused ETFs.Magazine: X Hall of Flame: Solana ‘will be a trillion-dollar asset’ — Mert Mumtaz

by Cointelegraph by Turner Wright on April 21, 2025 at 8:41 pm

A group of investors has filed a class-action lawsuit against decentralized cryptocurrency exchange Meteora, alleging the firm was involved in manipulating the launch and market price of the M3M3 token.In an amended complaint filed on April 21 in the US District Court for the Southern District of New York, the plaintiffs allege that venture capital firm Kelsier Labs, Meteora, and four current or former executives “intentionally misrepresented” information in the M3M3 launch in December 2024. The investors claimed that they suffered at least $69 million in losses between December 2024 and February 2025 after the parties presented “trusted leaders in the Solana ecosystem” as being behind the token launch, rather than a “blatant fraud” in which sales were manipulated to artificially inflate the price.“This artificially-inflated valuation communicated highly misleading information to non-insider investors, who reasonably relied on Defendants’ representations that the $M3M3 launch was fully accessible to the public and conducted in a transparent manner fair to non-insider investors, and thus reasonably relied on $M3M3 market price as a meaningful measure of its value,” the complaint reads. “The post-launch price spike also served to corroborate Defendants’ aggressively-marketed, but misleading, assertions that $M3M3 had intrinsic value and a comparatively low risk profile.”Class-action lawsuit against Meteora, Kelsier Labs, and current and former executives. Source: PACERThe lawsuit is one of many involving different crypto firms that have alleged fraud through violations of US securities laws. Though the US Securities and Exchange Commission (SEC), under acting chair Mark Uyeda since US President Donald Trump took office, has scaled back or dismissed many enforcement actions involving digital assets, the agency said in February it still intended to pursue cases against fraudulent token projects.The investors added:“Together, Defendants designed the $M3M3 Token and planned its launch on Meteora in a manner intended to illicitly enrich themselves at the expense of the unsuspecting investing public.”Related: Meteora says co-founder’s X account hacked after ‘parasitic’ memecoin postMemecoins in the Solana ecosystemMeteora has been tied to the launch of several high-profile yet controversial tokens, including those for Trump (TRUMP), his wife Melania (MELANIA), Libra (LIBRA), and online influencer Haliey Welch (HAWK). According to the lawsuit, the firm “purported to offer a comprehensive solution to the problems in the memecoin investment market” with the launch of M3M3. The defendants in the case allegedly attempted to distinguish the token from other notable memecoins by highlighting the “legitimacy and trustworthiness” through the involvement of Meteora co-founder Ben Chow and the platform.Kelsier Ventures, KIP Protocol, and Meteora face a similar class-action lawsuit filed in New York in March over LIBRA allegedly being launched in a “deceptive, manipulative and fundamentally unfair” manner. Argentine President Javier Milei briefly promoted the token over social media after his sister reportedly received payments from the project.Magazine: Memecoin degeneracy is funding groundbreaking anti-aging research

by Cointelegraph by Alex O’Donnell on April 21, 2025 at 7:23 pm

More than 70 cryptocurrency exchange-traded funds (ETFs) are slated for review by the US Securities and Exchange Commission (SEC) this year. According to Bloomberg analyst Eric Balchunas, the list includes proposed ETFs holding a range of assets, from altcoins to memecoins to derivatives instruments. “Everything from XRP, Litecoin and Solana to Penguins, Doge and 2x Melania and everything in between,” Balchunas said in an April 21 post on the X platform. “Gonna be a wild year.”Crypto ETFs’ SEC review schedule. Source: Eric Balchunas/BloombergRelated: ARK adds staked Solana to two tech ETFsUncertain institutional demandThe planned funds listings come as institutional investors turn increasingly bullish on crypto as an asset class. Upward of 80% of institutions say they plan to increase allocations to crypto in 2025, according to a March report by Coinbase and EY-Parthenon. However, analysts caution that just because ETFs are approved for US listings doesn’t guarantee widespread adoption, especially for funds holding more obscure alternative cryptocurrencies.“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.”Comparing asset manager Grayscale’s net assets pre-ETF launch across different cryptocurrencies suggests tepid demand for altcoin ETFs. Source: Sygnum BankSygnum Bank’s research head, Katalin Tischhauser, told Cointelegraph she expects altcoin ETFs to see cumulative inflows of several hundred million to $1 billion, far less than spot Bitcoin funds. Funds holding Bitcoin (BTC) — the first spot cryptocurrency approved for listing in a US ETF wrapper — attracted upward of $100 billion in net assets last year. However, ETFs using options and other derivatives to provide structured exposure to cryptocurrencies such as Bitcoin and Ether might see more institutional uptake, analysts said. Options on spot cryptocurrencies unlock numerous potential portfolio strategies for investors and could potentially catalyze “explosive” price upside for digital assets such as Bitcoin, Jeff Park, Bitwise Invest’s head of alpha strategies, said in September.Options are contracts granting the right to buy or sell an underlying asset at a certain price. On April 21, ARK Invest added exposure to staked Solana (SOL) to two of its existing ETFs. The asset manager said it marks the first time spot SOL has been available to US investors in an ETF. Magazine: ‘Bitcoin layer 2s’ aren’t really L2s at all: Here’s why that matters

by Cointelegraph by Alex O’Donnell on April 21, 2025 at 6:34 pm

ARK Invest has added exposure to staked Solana (SOL) to the portfolios of two of its exchange-traded funds (ETFs), the asset manager said in a client email reviewed by Cointelegraph. As of April 21, the two ARK funds — ARK Next Generation Internet ETF (ARKW) and ARK Fintech Innovation ETF (ARKF) — now hold shares of 3iQ’s Solana Staking ETF (SOLQ), a Canadian ETF holding staked SOL, ARK said. The two ARK funds are designed to offer broad exposure to emerging technologies, and comprise a mix a technology stocks — including crypto-focused companies such as Coinbase, Block, and Robinhood — and spot cryptocurrencies, according to ARK’s website.According to ARK, adding the SOL ETF shares makes “ARKW and ARKF the first US-listed ETFs to gain exposure to Solana.”In March, asset manager Volatility Shares launched two ETFs that offer exposure to SOL using financial derivatives, but spot Solana ETFs are still awaiting approval by US regulators.ARKW’s fund holdings. Source: ARK InvestRelated: Spot Solana ETFs to launch in Canada this weekSolana ETFs’ proposals line up for approvalExperts say the recent listing of Solana futures on the Chicago Mercantile Exchange (CME), a US derivatives exchange, indicates that US SOL ETF listings are coming soon. Last week, 3iQ launched its Solana ETF in Canada following approval of several such funds by the Ontario Securities Commission (OSC), Canada’s largest securities regulator. Solana is the second-most popular blockchain network after Ethereum. Its total value locked exceeds $7 billion, versus approximately $45 billion for the Ethereum network, according to data from DefiLlama. Blockchain networks by TVL. Source: DeFiLlamaThe US Securities and Exchange Commission (SEC) authorized spot Ether ETFs to trade in the United States in July 2024. In July, ARK partnered with 21Shares, a crypto-focused fund issuer, to launch ARK 21Shares Bitcoin ETF (ARKB), a spot Bitcoin (BTC) fund with nearly $4 billion in net assets as of April 21, according to ARK’s websiteIt also partnered with 21Shares on an Ether ETF but dissolved the partnership in June, shortly before the fund launched under 21Shares’ branding. Magazine: SCB tips $500K BTC, SEC delays Ether ETF options, and more: Hodler’s Digest, Feb. 23 – March 1

by Cointelegraph by Christopher Tepedino on April 21, 2025 at 5:20 pm

Upexi, a brand owner that specializes in supply chain management, is diversifying into the cryptocurrency sector. On April 21, the company announced a $100 million raise, with over 90% earmarked for building a Solana (SOL) treasury strategy.After the announcement, shares of Upexi have skyrocketed from a $2.30 close on April 17 to $16.79 at this writing, marking a 632% jump for the day.UPXI intraday performance on the Nasdaq. Source: Google FinanceMany “prominent” crypto venture capitalist firms participated in the $100 million raise, according to an announcement. Backers include the family office of Arthur Hayes, Delta Blockchain Fund, Delphi Ventures, Hivemind, Borderless, and White Star Capital, among others. The round was completed with a sale of around 44 million shares of common stock at a price of $2.28.According to Upexi's recent financials, it posted a profit of $3 million in the last quarter of 2024, down 34.8% or $4.6 million from the same time period in 2023.Companies mimic StrategyStrategy (formerly MicroStrategy) was one of the first mainstream companies to adopt a cryptocurrency treasury strategy. It started purchasing Bitcoin (BTC) in August 2020, and its stock price has jumped significantly since then. Currently, over 13,000 companies have exposure to Strategy.Other companies have followed Strategy’s lead in adopting a Bitcoin treasury, including Metaplanet, which topped $400 million in BTC holdings on April 21, and Semler Scientific, which reported paper losses for its BTC holdings on April 16.Related: Metaplanet, Semler Scientific were ‘zombie companies’ until Bitcoin, execs sayFewer companies adopting a crypto treasury strategy have chosen a coin other than Bitcoin. One such company is Janover, which was taken over by former Kraken executives on April 7. Like Upexi, it is adopting a Solana treasury strategy and acquired $10.5 million worth of SOL on April 15.SOL is the native token of the Solana blockchain. The network, once seen as the “Ethereum killer,” has fast speeds based on a proof-of-history consensus mechanism. Solana has been among the big winners of the latest bull market, thanks to use cases like memecoins and decentralized infrastructure applications. Magazine: Memecoins are ded — But Solana ‘100x better’ despite revenue plunge

by Cointelegraph by Rakesh Upadhyay on April 21, 2025 at 4:10 pm

The US Dollar Index (DXY) plunged below the 98 level on April 21, falling to a three-year low. That catapulted gold to a new all-time high, and Bitcoin (BTC) also showed strength, rising above $88,000. BitMEX co-founder and Maelstrom chief investment officer Arthur Hayes believes it may be the “last chance” to buy Bitcoin below $100,000. Hayes expects the Federal Reserve to announce US Treasury buybacks, which will act as a “Bazooka” for Bitcoin’s price trajectory.Daily cryptocurrency market performance. Source: Coin360The whales seem ready for the move higher, as they have been accumulating in March and April. According to Glassnode data, the number of wallets holding more than 1,000 Bitcoin increased from 2,037 in late February to 2,107 on April 15.Could Bitcoin bulls sustain the higher levels, triggering a rally toward $100,000? Will the altcoins follow? Let’s analyze the charts to find out.S&P 500 Index price analysisThe S&P 500 Index (SPX) recovery hit a wall at the 20-day exponential moving average (5,399) on April 14.SPX daily chart. Source: Cointelegraph/TradingViewThe 5,119 level is the critical support to watch out for on the downside. If this level gets taken out, the index could plummet to 4,950. The bulls are expected to vigorously defend the zone between 4,950 and 4,835.Instead, if the price rebounds off 5,119, it signals that the bulls are trying to form a higher low. The index could then oscillate between 5,119 and 5,500 for a while. Buyers will have to drive the price above 5,500 to signal that the correction may be over.US Dollar Index price analysisThe US Dollar Index resumed its downtrend on April 21, indicating that the bears remain in charge.DXY daily chart. Source: Cointelegraph/TradingViewThe index could collapse to 97.50, which could act as strong support. The oversold level on the relative strength index (RSI) signals a possible relief rally in the near term. Sellers are expected to aggressively defend the zone between 99 and 100.27 on any recovery attempt. If the price turns down from the overhead zone, the index risks a fall to 95.The first sign of strength will be a break and close above the 100.27 resistance. That indicates solid buying at lower levels. A short-term trend change is likely if buyers propel the price above the 20-day EMA (101.64).Bitcoin price analysisBitcoin made a decisive move higher after days of narrow-range trading, and the price has reached a critical resistance at the 200-day SMA ($88,238). BTC/USDT daily chart. Source: Cointelegraph/TradingViewThe moving averages are about to complete a bullish crossover, and the RSI has risen into positive territory, indicating an advantage to buyers. If the 200-day SMA is scaled, it suggests that the BTC/USDT pair may have bottomed out in the near term. The pair could rally to $95,000 and subsequently to the psychologically vital level of $100,000.The 20-day EMA ($84,176) is likely to act as strong support during any pullback. A break and close below the 20-day EMA signals that the bears are back in the game. The pair may then tumble to $78,500.Ether price analysisEther (ETH) remains in a downtrend, but the bulls are trying to start a relief rally by pushing the price above the 20-day EMA ($1,659).ETH/USDT daily chart. Source: Cointelegraph/TradingViewThe recovery is expected to face selling in the zone between $1,754 and the 50-day SMA ($1,846). If the price turns down from the overhead zone, it heightens the risk of a break below $1,368.Contrarily, a break and close above the 50-day SMA clears the path for a rally to the breakdown level of $2,111. Sellers are expected to defend the level with all their might because a break above it suggests that the ETH/USDT pair may have bottomed out. The pair may then rise to $2,600.XRP price analysisXRP (XRP) has risen above the 20-day EMA ($2.09), indicating that the bearish momentum has weakened.XRP/USDT daily chart. Source: Cointelegraph/TradingViewThere is resistance at the 50-day SMA ($2.21), but if the level is crossed, the XRP/USDT pair could march toward the resistance line. Sellers are expected to fiercely defend the resistance line because a rally above it signals a potential trend change.The $2 level is the crucial support on the downside. A break and close below $2 indicates that the bears remain in command. The pair may then tumble to $1.72 and eventually to $1.61.BNB price analysisBNB (BNB) broke out of the downtrend line on April 21, indicating that the bulls are trying to seize control.BNB/USDT daily chart. Source: Cointelegraph/TradingViewA close above the downtrend line opens the doors for a rally to $645. Sellers will try to halt the up move at $645, but if the bulls do not give up much ground, the BNB/USDT pair may rise to $680.Time is running out for the bears. If they want to make a comeback, they will have to quickly pull the price below $566. Such a move indicates that the markets have rejected the breakout above the downtrend line. The pair could then spend some more time inside the triangle.Solana price analysisSolana (SOL) has been gradually climbing toward the $148 to $153 overhead resistance zone, indicating that the bears are losing their grip.SOL/USDT daily chart. Source: Cointelegraph/TradingViewThe moving averages are on the verge of completing a bullish crossover, and the RSI is in the positive zone, indicating that the path of least resistance is to the upside. The SOL/USDT pair could rally to $180 if buyers pierce the overhead zone.Related: Bitcoin longs cut $106M — Are Bitfinex BTC whales turning bearish above $86K?On the contrary, if the price turns down sharply from the overhead zone, it suggests that the bears are selling on rallies. That could keep the pair range-bound between $153 and $120 for some time.Dogecoin price analysisDogecoin (DOGE) has been clinging to the 20-day EMA ($0.16), indicating that the selling pressure is reducing.DOGE/USDT daily chart. Source: Cointelegraph/TradingViewThe flattening 20-day EMA and the RSI near the midpoint suggest a balance between supply and demand. A break and close above the 50-day SMA ($0.17) tilts the advantage in favor of the bulls. The DOGE/USDT pair could then rally to $0.21.The $0.14 level remains the key support to watch out for on the downside. Sellers will have to yank the price below $0.14 to signal the resumption of the downtrend. The pair could drop to $0.13 and later to $0.10.Cardano price analysisThe bulls are trying to maintain Cardano (ADA) above the 20-day EMA ($0.63), signaling a comeback.ADA/USDT daily chart. Source: Cointelegraph/TradingViewThe ADA/USDT pair could rise to the 50-day SMA ($0.69), which is a crucial near-term resistance to watch out for. If buyers kick the price above the 50-day SMA, it suggests that the corrective phase may be over. The pair could climb to $0.83 and thereafter to $1.03.If the price turns down from the 50-day SMA, the bulls will try to halt the pullback at the 20-day EMA. If that happens, it increases the possibility of a rise above the 50-day SMA. The advantage will tilt in favor of the bears on a break below $0.58. Chainlink price analysisChainlink (LINK) closed above the 20-day EMA ($12.90) on April 19 and has reached the 50-day SMA ($13.63).LINK/USDT daily chart. Source: Cointelegraph/TradingViewSellers will try to defend the 50-day SMA, but if the bulls overcome the barrier, the LINK/USDT pair could pick up momentum and rally toward the resistance line of the descending channel pattern. The $16 level may act as a hurdle, but it is likely to be crossed.The first support on the downside is the 20-day EMA and then $11.68. A break and close below $11.68 suggests that bears remain in control. The pair may then slump to the support line, where buyers are expected to step in.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.

by Cointelegraph by Turner Wright on April 21, 2025 at 3:54 pm

New filings from the Federal Election Commission (FEC) reveal that several cryptocurrency firms and their executives made significant contributions to US President Donald Trump’s inauguration fund after the results of the 2024 election. According to FEC filings made public on April 20 by the Trump-Vance Inaugural Committee, Uniswap CEO Hayden Adams donated more than $245,000, Solana Labs donated $1 million, and software firm Consensys sent $100,000 in January to support the then-president-elect’s inauguration. Many major crypto firms had previously announced their support of Trump through donations to the inaugural fund, including Coinbase, Ripple Labs, Kraken, Ondo Finance, and Robinhood.Jan. 9 contribution from Uniswap CEO Hayden Adams to Trump-Vance inauguration fund. Source: FECAltogether, the fund reported more than $239 million in net donations between Nov. 15 and April 20 from companies and individuals. These included $1 million from McDonald’s, $1 million from Meta, $1 million from Apple CEO Tim Cook, $1 million from OpenAI CEO Sam Altman, and various contributions from Delta Air Lines, ExxonMobil, FedEx, Nvidia, PayPal, Target, and Coca-Cola. Since Trump took office on Jan. 20 and appointed Mark Uyeda as acting chair of the US Securities and Exchange Commission (SEC), the agency has dropped multiple investigations and enforcement actions against crypto firms, including those that donated to the president’s 2024 campaign or inauguration fund. In February, Uniswap reported that the SEC had dropped its probe into the firm, and Consensys founder Joseph Lubin said the agency had agreed to end a separate lawsuit. Memecoins, stablecoin issuers, and future electionsTrump’s memecoin, launched on Jan. 17 on the Solana blockchain — along with his wife Melania’s, which was available a few days later — has many in the crypto industry and members of Congress voicing concern over conflicts of interest potentially arising from the president appearing to capitalizing on his position.Trump’s family is also behind the launch of World Liberty Financial, a crypto firm responsible for a US dollar-pegged stablecoin at a time when lawmakers are considering legislation to regulate the technology.In addition to the Consensys case, the SEC said it intended to drop enforcement actions or investigations into Ripple, Kraken, Robinhood Crypto and Coinbase. The three firms donated a combined $9 million to the inauguration fund.Related: Trump’s next crypto play will be Monopoly-style game — ReportThe 2024 US election cycle saw crypto-backed political action committees (PACs) spending more than $131 million to influence races in crucial congressional districts. The Fairshake PAC has already said it had more than $100 million available, in part from contributions from Coinbase and Ripple, to spend on the 2026 midterms. Magazine: Trump’s crypto ventures raise conflict of interest, insider trading questions

by Cointelegraph by William Suberg on April 21, 2025 at 3:23 pm

Bitcoin (BTC) doubled down on its divergence from stocks at the April 21 Wall Street open as US trade war tensions escalated. BTC/USD 1-day chart. Source: Cointelegraph/TradingViewTrade war reactions fuel BTC price gainsData from Cointelegraph Markets Pro and TradingView showed BTC/USD matching month-to-date highs above $88,000.Bitcoin continued higher after the weekly close to catch up with gold as the latter set fresh all-time highs of $3,430 per ounce.XAU/USD 1-hour chart. Source: Cointelegraph/TradingViewBy contrast, stock markets came under renewed selling pressure, with the S&P 500 and Nasdaq Composite Index both down over 2% at the time of writing.Newfound BTC price strength thus appeared to end lockstep trading with equities as part of reactions to trade-war headlines.These included warnings about the deterioration of relations with the US from both China and Japan, while US President Donald Trump renewed existing attacks on Federal Reserve Chair Jerome Powell over interest rates.Source: Donald Trump“Technology stocks have gotten crushed again over the last week. Nvidia, NVDA, is down over -15% since last Monday while multiple other Mag 7 stocks are down 10%+,” trading resource The Kobeissi Letter wrote in part of a reaction thread on X. “Without technology stocks, this market cannot bottom.”S&P 500 1-hour chart. Source: Cointelegraph/TradingViewKobeissi also referenced downside pressure on the US Dollar Index (DXY), which traded at its lowest levels since March 2022.“While the USD, DXY, falls to a new 52-week low below 99, Bitcoin and Gold are surging,” it summarized. “Markets need trade deals ASAP.”US dollar index (DXY) vs. BTC/USD chart. Source: The Kobeissi Letter/XBitcoin “institutional confidence returning”Continuing, trading firm QCP Capital struck an optimistic tone.Related: US dollar goes ‘no-bid’ — 5 things to know in Bitcoin this weekBitcoin, it argued in its latest bulletin to Telegram channel subscribers, seemed to be sharing some of gold’s limelight as a hedge against macroeconomic uncertainty after months of failure.“With equities finishing last week in the red and extending an April drawdown, the narrative of BTC as a safe haven or inflation hedge is once again gaining traction. Should this dynamic hold, it could provide a fresh tailwind for institutional BTC allocation,” it wrote.QCP even suggested that recent outflows from the US spot Bitcoin exchange-traded funds (ETFs) may soon recover.“Indeed, we’re already seeing early signs of institutional confidence returning. Spot BTC ETF flows turned positive last week with net inflows of $13.4 million, a stark contrast to the previous week’s $708 million in outflows,” the bulletin noted. “In options markets, positioning has turned more balanced. Risk reversals across tenors have flattened out, diverging from the persistent near-dated put skew that has dominated for weeks.”US spot Bitcoin ETF flows (screenshot). Source: Farside InvestorsThis 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.

by Cointelegraph by Amitej Gajjala on April 21, 2025 at 3:00 pm

Opinion by: Amitej Gajjala, co-founder and CEO of KernelDAOBitcoin is the principal asset of the cryptocurrency world and even one of the world’s top 10 most valuable assets, recognized for its role as a store of value. Yet a huge percentage of the Bitcoin (BTC) supply remains dormant for years, meaning the crypto market only works with a fraction of the circulating supply each year. This idle Bitcoin has an enormous amount of untapped financial potential.Bitcoin’s principal narratives are “store of value” and “never sell.” Today’s decentralized finance (DeFi) tools, however, enable yield gain by holding Bitcoin and taking advantage of dormant Bitcoin, which just sits in investors’ wallets and does nothing. Existing dormant Bitcoin is not being fully utilized Dormant Bitcoin has not been used for long periods, usually one or more years. According to Glassnode, as of early 2025, the active supply that has not moved in more than one year is approximately 62%.This Bitcoin is held in wallets that show no activity on the blockchain and remain inactive for various reasons. These could be intentional long-term holding strategies or even permanent loss as a result of negligence or the death of their users. Let’s put aside the rest of the reasons and focus on long-term Bitcoin holding strategies. The existence of this group implies that they could enter the market at any time, producing significant volatility in the price of Bitcoin. Why aren’t we using that Bitcoin in DeFi right now? Activating dormant Bitcoin will make waves in the marketIf large quantities of dormant Bitcoin were to reactivate immediately, it could significantly affect the cryptocurrency market, creating a noticeable event. These movements could dramatically affect Bitcoin's price in a negative way due to potential selling pressure and influence the market with a significant increase in active circulating supply.Recent: Stablecoin presence key to blockchain legitimacy, says ZachXBTIf the reactivated Bitcoin is, however, reintegrated into productive DeFi ecosystems rather than sold en masse, it could provide liquidity without destabilizing the market. With that amount of active liquidity, Bitcoin would not only be a “store of value” but also a productive asset with utility and application.Let’s look at the announcement of the creation of a Bitcoin strategic reserve in the United States. One of the key points of this reserve is that it will follow budget-neutral strategies without selling the estimated 198,000 BTC held by the government. Those conditions are perfect for putting this Bitcoin into restaking and using it in DeFi to obtain rewards. Just picture all the gains the US could make by using most of its Bitcoin reserves in that way, without selling.We need to explore Bitcoin’s potential in DeFiIntegrating dormant Bitcoin into DeFi platforms offers interesting Bitcoin and decentralized finance opportunities. Bitcoin would encourage transactions and fees on the network to support miners. The total value locked (TVL) in DeFi will be tremendous compared to all the liquidity Bitcoin will add to the DeFi market.Advances like wrapped tokens and crosschain bridges have enabled Bitcoin holders to engage in flash loans, lending, staking, restaking and yield farming on DeFi platforms. The current levels are, however, insufficient and will not be the only way to take advantage of this enormous liquidity injection. As of March 10, Bitcoin’s TVL in DeFi stood at over $5 billion, according to DefiLlama data. This represents only 6% of the TVL of all the current blockchains on the market, with Ethereum the king at 52.56% with $48 billion. If Bitcoin became the new king of TVL in DeFi, it would only need to use some of the dormant Bitcoin mentioned above.In this scenario, Bitcoin will provide more stability to DeFi, as its holders, including institutional and long-term investors, are not prone to selling during market downturns. In addition, activating even a small fraction of currently idle Bitcoin could unlock billions of dollars of liquidity for decentralized finance applications.The best way to use BTC in DeFi is restakingToday, restaking is emerging as an innovative, engaging way to integrate Bitcoin into DeFi while maintaining its appeal as a conservative, secure investment vehicle. Restaking enables holders to stake their assets in decentralized protocols and earn passive income while contributing to the economic security of the network.This mechanism offers several benefits, including passive income with minimal risk and economic security, by supporting the development of new products. It parallels traditional finance by offering predictable returns while preserving capital, which appeals more to conventional investors.Restaking aligns with the conservative mindset typical among many Bitcoin holders, allowing them to participate in innovations within the DeFi space. Restaking is desirable for every Bitcoiner to obtain yield with their reserves.Dormant Bitcoin is a massive opportunity for DeFiDormant Bitcoin is a vast, untapped reservoir within the Web3 ecosystem. By integrating Bitcoin into DeFi platforms today, individual investors and the broader ecosystem will significantly benefit from the increased stability, liquidity and growth opportunities.Opinion by: Amitej Gajjala, co-founder and CEO of KernelDAO.

by Cointelegraph by Adrian Zmudzinski on April 21, 2025 at 2:57 pm

Pseudonymous Bitcoin stock-to-flow (S2F) model creator PlanB attacked Ethereum and mocked the project’s co-founder, Vitalik Buterin.PlanB mockingly reposted a June 2022 X post by Buterin in which the Ethereum co-founder said S2F “is really not looking good now.” PlanB responded with a new posting stating, “Ethereum is really not looking good now.”Source: PlanBIn his response to Buterin’s criticism from years ago, PlanB claimed Ethereum and the network’s coin, Ether (ETH), are centralized and premined, pointing to its shift to proof-of-stake (PoS) and changes in its issuance rate. He said that those features “are harmful and deserve all the mockery they get,” echoing Buterin’s old comment about S2F.Related: Bitcoin analyst PlanB transfers Bitcoin to ETFs to avoid 'hassle with keys'PlanB’s criticism of EthereumIn a separate X post, PlanB explained that an Ethereum full node requires nine terabytes of disk space, meaning he “can not run it” on his hardware. The kind of node in question is probably an Ethereum archival node, which, according to Etherscan data, requires over 21.8 terabytes (TB) with the Geth client.An Ethereum full node running the Geth client that prunes older states with the default settings requires 1.28 TB, according to Etherscan data. The Bitcoin (BTC) and Ethereum communities have long debated what constitutes a full node.This type of pruned node cannot access the full historical data or generate Merkle proofs for old blocks, which limits its research and bug-finding applications. Still, such nodes can engage in full trustless block and transaction validation.Bitcoin’s full nodes require under 700 gigabytes (0.7 terabytes), according to Statista data, and also require much less computing power. This means that users can run Bitcoin full nodes much more easily, leading to a higher node count and higher network decentralization.Not everyone views the criticism as founded. Jeremiah O’Connor, chief technology officer and co-founder at crypto cybersecurity firm Trugard, told Cointelegraph:“PlanB’s take is classic Bitcoin maxi energy — loud, confident and missing half the picture.“O’Connor explained that Ethereum and Bitcoin serve two different purposes. He said that “Ethereum nodes are bigger and more complex” since Ether “isn’t just digital gold — it’s a full-on global computer.”“Of course it’s heavier.“He conceded that users relying on centralized data providers like Infura is a problem. Still, he claimed that every ecosystem engages in centralization tradeoffs and that Ethereum developers are working to address the issue, and “it’s evolving fast.”“Calling ETH a “shitcoin” because it’s not Bitcoin is like calling smartphones a scam because they aren’t landlines,“ he said.He added that the two are different tools with differing purposes. He views Bitcoin as a “rock-solid value storage” and Ethereum as “where the builders are,” and said that “both matter” and “complement each other.”Related: Can the Ethereum blockchain roll back transactions? Understanding the limits and risksButerin as a “single point of failure”PlanB also questioned Buterin’s influence on Ethereum’s development, calling him a “single point of failure.” However, Ethereum Foundation co-executive director Tomasz Stańczak recently announced that Buterin is stepping back from day-to-day operations to focus on research.PlanB also raised an issue with Ethereum rolling back transactions following the 2016 DAO hack:“The fact that this is even possible should worry you.“Bybit CEO Ben Zhou suggested an Ethereum rollback following the exchange’s $1.4 billion hack. Still, many in the community argued that a rollback happening now, with Ethereum being a more mature network, would be next to impossible.Bitcoin itself had a comparable incident in its early history as well. On Aug. 15, 2010, an exploit resulted in a transaction that minted 184 BTC on the network in block 74638.Satoshi Nakamoto (still involved in development at the time) and other core developers released an update that rolled back the network to block 74637 and patched the vulnerability. In other words, Bitcoin saw its own blockchain rollback in its early days.Other points raised by PlanB include Ethereum switching to PoS, which he claims has consequences for the price. He suggested that changes to issuance and governance undermine Ethereum’s value proposition compared to Bitcoin’s fixed and predictable supply.Magazine: Crypto ‘more taboo than OnlyFans,’ says Violetta Zironi, who sold song for 1 BTC

by Cointelegraph by Yohan Yun on April 21, 2025 at 2:25 pm

A little-known VOXEL trading pair on cryptocurrency exchange Bitget suddenly clocked over $12 billion in volume on April 20, dwarfing the metrics of the same contract on Binance.The activity centered on VOXEL/USDT perpetual futures, where traders reported instant order fills — an anomaly many described as a bug that allowed savvy traders to rack up outsized profits by exploiting unusual price behavior.The atypical metrics drew Bitget’s attention. In the fallout of its early investigation, the exchange suspended accounts suspected of market manipulation and rolled back irregular trades that occurred throughout the day. Traders who copped losses during that period were offered compensation.Bitget’s response and remediation plan may have prevented lasting investor damage, but the episode is the latest in a series of cases that raise questions about how exchanges handle market makers, internal systems and user safeguards. While Bitget promotes an open API and regularly touts its global market maker program, it has yet to disclose who was behind the April 20 activity or what technical factors led to it.The lack of incident-level detail has fueled speculations comparable to similar breakdowns on Binance — the world’s largest exchange by trading volume — that included the sudden price crashes of cryptocurrencies GoPlus (GPS) and MyShell (SHELL) in March. Binance kicked out an unnamed market maker it found responsible for manipulation, but the lack of disclosure added fuel to the crypto industry’s infamous rumor mongering.Bitget’s VOXEL/USDT perpetual futures volume exceeded that of all other top 10 markets combined on April 20. Source: Thành CryptoTraders VOXEL market maker bug, Bitget disagreesCrypto market participants pointed to rapid price fluctuations and what multiple Mandarin-language X accounts described as a bug in a “market maker” bot as the cause of VOXEL’s excessive volume.Traders claimed that VOXEL’s price flickered between several ranges, such as $0.125 and $0.138. Orders placed between those bands filled instantly due to the suspected bug, X user Dylan said, sharing screenshots and videos of profitable accounts. Perpetual futures contracts are typically matched through an order book, with each trade requiring a counterparty. But in this case, trades appeared to execute automatically and without delay.A machine-translated post shares how one trader profits hundreds of thousands of dollars with just $100 USDT in starting capital. Source: 0xDy_ethTraders who spotted the suspected bug early used high-leverage bets to boost their profits, X user Qingshui said, calling the strategy a “zero-cost exploit.” Like Dylan, Qingshui attributed the issue to a market maker bot misfiring and questioned why traders were blocked from accessing profits if the problem originated from Bitget’s side.Related: How Mantra’s OM token collapsed in 24 hours of chaosA third user, Hebi555, pointed the finger at Bitget’s market-making team for its poor performance. Xie Jiayin, Bitget’s head of Asia, clapped back, stating that the exchange works with over 1,000 market makers and institutional clients. He added that Bitget’s API is open to the public and emphasized that specific market maker identities could not be disclosed due to confidentiality agreements.In an April 20 response to Cointelegraph, Bitget CEO Gracy Chen said that suspicious trades were between individual market participants, not the platform. Replying to Cointelegraph’s follow-up inquiry on April 21, Chen neither confirmed nor denied whether a market maker bot was involved, only reiterating that the trading was “between users.”“We are conducting a thorough review, and once the rollback is completed, trading and account restrictions will be lifted as appropriate. Bitget’s security infrastructure is designed to catch irregularities like this in real time — as it did in this case,” Chen said.Bitget’s VOXEL anomaly adds to crypto’s market manipulation mysteryConcerns over market manipulation in the cryptocurrency industry have been intensifying. In early March, the prices of two tokens, GPS and SHELL, crashed in tandem with their Binance listings. The exchange’s investigation found that the two tokens employed the same unnamed market maker. Binance banished the dubious trading firm from its platform and confiscated its proceeds to help fund compensation efforts for GPS and SHELL traders. Without a suspect to blame, social media users began pointing fingers at several market makers and trading firms. Those named denied any involvement.GSR was among the most frequently accused firms, but denied being the market maker removed by Binance. Source: GSRBinance then kicked out another unnamed market maker, this time for trading activities related to the Movement (MOVE) token. The MOVE token’s market maker on Binance was found to have associations with the market maker for GPS and SHELL.Related: Market maker deals are quietly killing crypto projectsA recent Cointelegraph report found that market makers are employing a loan-based model that is killing off small- and medium-cap projects. The loan model gives market makers access to a project’s tokens in exchange for liquidity provision. But instead, what often happens is that market makers dump the loaned tokens on the open market just to buy them back at a cheaper price, leaving the projects with damaged price charts.VOXEL was on Bitget, but exploits aren’t limited to CEXsBoth Bitget and Binance’s cases show that even the largest centralized exchanges (CEXs) aren’t immune to market manipulation or traders exploiting platforms for profits.But a recent case on decentralized exchange (DEX) Hyperliquid shows the issue isn’t confined to CEXs. In late March, a whale allegedly exploited the liquidation parameters on Hyperliquid, resulting in the delisting of the platform’s JELLY perpetual futures product. Hyperliquid then announced a compensation plan for affected users, similar to how Bitget responded to its own VOXEL drama.X user spotlights double standards in how exchanges respond to bugs. Source: Dotyyds1234Ironically, Bitget’s Chen had some strong words against Hyperliquid at the time, raising concerns about the network’s centralization. She compared the DEX to FTX, once a billion-dollar trading firm whose founder is now serving a 25-year prison sentence for multiple counts of fraud.“The way it handled the JELLY incident was immature, unethical, and unprofessional, triggering user losses and casting serious doubts over its integrity. Despite presenting itself as an innovative decentralized exchange with a bold vision, Hyperliquid operates more like an offshore CEX with no [Know-Your-Customer/Anti-Money Laundering], enabling illicit flows and bad actors,” she said.Bitget’s VOXEL episode may have been contained, and Hyperliquid’s users may be compensated, but the broader pattern is harder to ignore for traders. As platforms scramble to maintain trust, the industry’s vulnerability isn’t just the bugs or exploits, but the silence that follows them.Magazine: Uni students crypto ‘grooming’ scandal, 67K scammed by fake women: Asia Express

by Cointelegraph by Marcel Pechman on April 21, 2025 at 2:21 pm

Despite Bitcoin’s (BTC) price reaching its highest level in over three weeks, traders on Bitfinex reduced their leveraged long (bullish) positions on margin contracts by more than $100 million between April 17 and April 19. This reduction has led to speculation that Bitcoin whales may be anticipating a price correction or, at the very least, are not confident in further short-term gains. Let’s look closer at whether this could be the case. Bitfinex Bitcoin whales remain bullishBitcoin surged above $86,000 on April 21 after US President Donald Trump openly discussed the possibility of replacing Federal Reserve Chair Jerome Powell. Trump criticized Powell for not acting swiftly enough to ease monetary policy. Additionally, investors are increasingly risk-off due to concerns about a recession as the global trade war escalates, particularly given the ongoing uncertainty in US-China relations.The rationale behind this profit-taking in margin markets is especially noteworthy, as Bitcoin’s price has remained below $90,000 since early March, prompting some investors to question the likelihood of a sustainable decoupling from traditional markets. The S&P 500 index futures are trading 1.1% below their closing price on April 17, and rising political tensions in the US are further eroding investor sentiment.April 2025: BTC/USD (left, orange) vs. Bitfinex BTC margin longs. Source: TradingView/CointelegraphBitcoin margin longs on Bitfinex stood flat at 80,400 BTC between April 10 and April 17, indicating strong confidence from bullish traders as this level neared a seven-month high. However, even as BTC’s price reclaimed the $83,000 level, these traders chose to reduce their leveraged bullish positions by 1,250 BTC, equivalent to $106 million.Historically, Bitfinex traders are known for rapidly opening or closing substantial Bitcoin margin positions, indicating that whales and large arbitrage desks are typically behind these movements. Nevertheless, it is not accurate to suggest that Bitfinex whales have shifted to a bearish stance, considering their margin longs currently total 79,136 BTC, valued at $6.86 billion, while margin shorts amount to just 326 BTC.Related: Bitcoin whales absorb 300% of newly mined BTC supply — Is $100K next?The significant difference between bullish and bearish positions can be attributed to the platform’s notably low 2% annual interest rate. In comparison, traders utilizing two-month BTC futures currently pay a 5.7% annualized premium. This disparity creates opportunities for arbitrage, as one can open Bitcoin longs on the margin market and simultaneously sell the equivalent position on BTC futures to capture the difference.BTC doesn’t often move with Bitfinex leverage changesFurthermore, Bitcoin’s price does not always correlate directly with changes in leveraged positions on Bitfinex. For instance, in the two weeks ending March 10, whales increased their margin longs by 13,454 BTC, yet Bitcoin’s price declined from $95,930 to $67,076 during the same period. Similarly, margin longs decreased by 11,047 BTC in the two weeks ending Dec. 16, 2024, while Bitcoin’s price rose from $96,200 to $106,400.Dec. 2024: BTC/USD (left, orange) vs. Bitfinex BTC margin longs. Source: TradingView/CointelegraphHowever, these sophisticated investors have demonstrated strong market timing over the longer term. For example, Bitcoin’s price eventually dropped below $58,000 on Dec. 23, 2024, after margin-long positions had already been reduced by 26% in the preceding 30 days. This pattern suggests that these traders are generally highly profitable but also display a significantly higher risk tolerance and patience compared to the average investor.Ultimately, a $106-million reduction in BTC margin longs is not sufficient evidence to claim that professional traders are turning bearish.As Cointelegraph reported, onchain data suggests Bitcoin whales have grown in number throughout March and April despite the price slump, suggesting accumulation.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.

by Cointelegraph by Helen Partz on April 21, 2025 at 2:07 pm

El Salvador, the first country in the world to adopt Bitcoin as legal tender, is working with the computer chip giant Nvidia to implement artificial intelligence for national development.El Salvador signed a letter of intent to collaborate with Nvidia on “sovereign AI to drive innovation and economic growth,” the National Bitcoin Office (ONBTC) of El Salvador announced on X on April 21.As part of the collaboration, El Salvador will benefit from Nvidia’s AI tools, resources and expertise, enabling the development of sovereign AI capabilities targeting priorities related to culture, language, environment and economy.“El Salvador will focus on building domestic AI infrastructure, upskilling the workforce, and creating solutions to address local challenges such as improving healthcare delivery, advancing education, and boosting economic productivity,” the announcement said.AI training for state officials and developersEl Salvador’s latest collaboration with Nvidia marks the country’s commitment to encouraging AI usage to optimize multiple processes within the government and society.With its new AI push, El Salvador intends to establish AI training programs for developers, researchers and government officials to “ensure the nation has the talent to sustain its AI ambitions.”Source: The Bitcoin OfficeOne example includes the creation of AI-driven models to forecast weather and rainfall, which would support emergency response, protect residents in landslide-prone areas and optimize hydroelectric power management.Not the first AI initiative for El SalvadorEl Salvador’s Nvidia partnership adds to a growing list of AI-focused initiatives.In March 2025, the ONBTC announced Salvador’s university-level public education AI program CUBO_ai, touting it as the “only national education program bringing in top-tier field experts.” The program was announced with support from major Bitcoin bull Cathie Wood, who is expected to give the first lecture as part of the program.An excerpt from the CUBO_ai announcement by El Salvador. Source: The Bitcoin OfficeLast year, Wood predicted that El Salvador’s Bitcoin (BTC) and AI plans may boost GDP tenfold by 2029.Related: Only 11% of El Salvador’s registered Bitcoin firms operationalWhile El Salvador has been aggressively introducing AI initiatives, its Bitcoin ambitions have been somewhat deterred.In early March, the International Monetary Fund moved to restrict further Bitcoin purchases by El Salvador as part of an extended $1.4 billion funding arrangement with the country. However, the government has continued stacking 1 Bitcoin a day, raising questions about the implications of the deal with the IMF.Magazine: Your AI ‘digital twin’ can take meetings and comfort your loved ones

by Cointelegraph by Zoltan Vardai on April 21, 2025 at 2:05 pm

Scammers are once again capitalizing on the popularity of Elon Musk’s artificial intelligence chatbot Grok, with fake tokens again emerging as part of potential phishing attacks.A wallet linked to former Binance CEO Changpeng “CZ” Zhao received 90 million fake Grok (GROK) tokens on April 21, according to blockchain security firm PeckShield.The tokens are “likely a scam,” since the “deployer distributed it to multiple addresses via multisend,” PeckShield said.Source: PeckShieldAlertThe X platform’s Grok AI chatbot has no official cryptocurrency and no plans to launch one in the future.Related: Bitcoin up 33% since 2024 halving as institutions disrupt cycleFake Grok-related tokens first emerged in 2023 when a scammer deployed an ERC-20 Grok token on Ethereum, which led to an over 90% drop after the deployer sold 0.5% of the total supply, according to blockchain data visualization platform, Bubblemaps.Fake GROK ERFC-20 token crash, 2023. Source: Bubblemaps Scammers often capitalize on the credibility of social media platforms, large brands, or celebrities like Elon Musk to cultivate a sense of trust with victims.Meta was the most mimicked brand in phishing reports filed throughout 2024, according to a report by email security provider Mailsuite.US brands are often impersonated by scammers. Source: MailsuiteCoinbase was the most impersonated brand by scammers in the crypto industry, but Meta was targeted by over 25 times as many scammers as the cryptocurrency exchange.Related: Bitcoin rally above $100K may follow US Treasury buybacks — Arthur HayesElon Musk-related scams and fake coins see a resurgenceElon Musk-related scams and fake tokens are seeing a resurgence as scammers continue vying for investors’ crypto holdings.A fake announcement claiming to be an official “AI Elon Musk stream” giving away $20,000 worth of cryptocurrency was flagged on April 14 by crypto recovery and security advocate, Denis Thomas.Source: Denis Thomas Multiple other Elon Musk-related memecoins were launched on the BNB Smart Chain in recent weeks, according to a scam detector platform, Coinspeedrun.Source: CoinspeedrunPhishing scams like address poisoning involve tricking victims into sending assets to fraudulent wallet addresses.Phishing scams cost the crypto industry over $1 billion across 296 incidents in 2024, making them a major threat, according to blockchain security firm CertiK.Magazine: Down to $200 one day, Pixels founder had $2.4M the next: Luke Barwikowski, X Hall of Flame

by Cointelegraph by Dilip Kumar Patairya on April 21, 2025 at 1:15 pm

What are gold-backed stablecoins, and how do they work? Gold-backed stablecoins are digital currencies pegged to physical gold reserves and designed to maintain a stable value. The concept of gold-backed digital currencies dates back to the early days of cryptocurrency, with developers aiming to create a reliable store of value. Each gold-backed stablecoin represents a specific quantity of gold. For instance, one token might be linked to 1 troy ounce of gold. A troy ounce is a unit of weight used explicitly for weighing precious metals like gold, silver and platinum; it is equal to 31.1034768 grams. A third party typically holds the gold reserves to ensure security and transparency. The issuing entity is responsible for maintaining an equivalent amount of physical gold for every token in circulation. The token’s price remains closely aligned with the market value of gold. Buyers pay gold's spot price for a token. Similarly, if the stablecoin fails, the tokenholders can redeem their tokens for the gold. Practically, the gold is liquidated for electronic fiat transfers.Regulators classify gold-backed stablecoins as commodity-backed stablecoins or asset-referenced tokens (ARTs), depending on jurisdiction. Examples of gold-backed stablecoins include Tether Gold (XAUT), Paxos Gold (PAXG) and Alloy (aUSDT).Did you know? On April 1, 2025, Tether Gold (XAUT) traded at $3,165. Its market capitalization was about $780.3 million, with a daily trading volume of $11.03 million. Advantages of gold-backed stablecoins Gold-backed stablecoins combine the stability of gold with the flexibility of digital assets. Their blockchain-based nature offers benefits beyond traditional paper gold. Here are a few advantages of gold-backed stablecoins:Flexible alternative to physical gold: Gold-backed stablecoins function as blockchain-based representations of gold, offering a more efficient and flexible alternative to holding physical bullion. Instant global trading: Unlike traditional gold ownership, these tokens can be stored in cryptocurrency wallets from which you can transfer instantly and trade globally with a nominal transactional fee.Access to DeFi applications: They also enable decentralized finance (DeFi) applications, expanding their usability beyond traditional gold investments.Better security: Physical gold is vulnerable to theft, loss and damage. Gold-backed stablecoins, stored on blockchain networks, can be more secure.Programmability: Gold-backed stablecoins are programmable because they exist on blockchain networks such as Ethereum. This allows them to interact with smart contracts and work with decentralized apps (DApps).Divisibility: Splitting physical gold or even paper gold is challenging. However, you can split a single token into several decimal places, which can be recorded on the blockchain.Make gold more accessible: Gold-backed tokens enable you to easily access gold. An ounce of gold may be expensive, but you can easily buy 0.001 of a token. Interoperability: When you release a token on a widely used network like Ethereum, it is instantly operable with DApps, DeFi platforms and wallets supported by the network.Diversification of funds: Investing in gold-backed stablecoins enables you to diversify your funds. It is a unique type of asset that protects you against currency value drops. What are USD-backed stablecoins, and how do they work? USD-backed stablecoins are cryptocurrencies designed to maintain a stable value by being pegged to the US dollar. Each token is typically backed by an equivalent amount of US dollars or cash-equivalent assets held in reserve by a financial institution or trust.For every USD-backed stablecoin issued, the issuing entity must maintain a corresponding reserve amount to guarantee its value. This ensures that holders can always redeem their tokens for an equivalent dollar amount. Examples of USD-backed stablecoins are Tether (USDt), USDC (USDC) and Binance USD (BUSD), all of which are used in trading, payments and DeFi.You can buy and sell stablecoins through crypto exchanges like Binance or Coinbase. To purchase, create an account, complete verification, deposit fiat or crypto and choose a stablecoin such as USDt or USDC. To sell, go to the trading section, select your stablecoin, and exchange it for fiat or another crypto. Some wallets and peer-to-peer (P2P) exchanges also support stablecoin trading.Did you know? The EU's Markets in Crypto-Assets Regulations (MiCA) have forced crypto exchanges to delist USDT and other non-compliant stablecoins, resulting in a growing market for Euro-backed stablecoins. USDC continues to be a prominent USD alternative in the region. Advantages of USD-backed stablecoins USD-backed stablecoins offer several advantages, making them a critical part of the crypto ecosystem. By combining the reliability of fiat currency with the efficiency of blockchain, USD-backed stablecoins play a vital role in digital finance. Here are a few advantages of USD-backed stablecoins:Steady value: Unlike traditional cryptocurrencies, which experience high volatility, stablecoins maintain a steady value, making them an ideal unit for payments, particularly in exchange for goods and services.Liquidity and accessibility: USD-backed stablecoins are widely accepted across crypto exchanges, payment platforms and DeFi applications. This allows traders to move funds quickly between assets without converting crypto back to fiat currency, reducing transaction costs and delays.Transparency: Issuers generally provide regular audits and reports on their reserves, which enables users to verify that actual USD holdings back each token. This transparency builds trust among users, issuers and regulators.Fast, low-cost international payments: Operating on blockchain networks, USD-backed blockchain networks facilitate fast, low-cost international payments without relying on traditional banking systems. This makes them a preferred option for remittances and cross-border trade.Safe haven during market downturns: USD-backed stablecoins offer stability during periods of market volatility. Investors and traders often convert volatile crypto holdings into stablecoins to protect their value without exiting the crypto market entirely.Still, please note that stablecoins may depeg occasionally because of several macro and microeconomic factors. Macro factors include changes in economic conditions, such as inflation or an increase in interest rates. Micro variables involve differences in market conditions, such as changes in the underlying collateral and problems with liquidity. When Silicon Valley Bank failed in March of 2023, the USDC stablecoin deviated from its peg because $3.3 billion of its reserves were held there.Did you know? Stablecoins are of four types: fiat-collateralized, crypto-collateralized, algorithmic and commodity-collateralized. Algorithmic stablecoins have gradually gone out of favor. Key differences between gold-backed and USD-backed stablecoins Gold-backed and USD-backed tokens are stablecoins, yet they differ in several ways. This comparison explores the fundamental differences, focusing on their backing assets, price stability, liquidity, adoption and primary use cases:Backing asset: Physical gold vs fiat reservesGold-backed and USD-backed stablecoins differ primarily regarding the collateral that supports their value. Gold-backed stablecoins are tied to physical gold, usually at a fixed ratio, while some USD-backed stablecoins are backed by a reserve of US dollars, short-dated and cash deposits.Price stability: Long-term vs short-termThe value of gold-backed stablecoins fluctuates depending on the market price of gold, which can experience short-term volatility but tends to appreciate over the long run. USD-backed stablecoins maintain a 1:1 peg to the dollar, ensuring more predictable short-term stability. Their value remains steady unless external factors, such as regulatory changes or mismanagement of reserves, impact the peg. Liquidity and adoption: Use of USD-backed in DeFi applicationsUSD-backed stablecoins are more liquid and widely accepted in the crypto ecosystem, including exchanges, payment systems and DeFi applications. They are frequently used for trading and lending. Moreover, many countries in Latin America, such as Bolivia, have adopted USDC for payments. Gold-backed stablecoins, while useful for preserving value, are less commonly integrated into DeFi protocols due to low liquidity concerns.  Use cases: Value storage Gold-backed stablecoins serve as a hedge against inflation, appealing to investors seeking growth. USD-backed stablecoins are preferred by investors seeking stability and value storage. USD-backed stablecoins are used for everyday transactions, trading and financial services, thanks to instant liquidity and ease of use.Regulatory considerations: ComplianceGold-backed stablecoins and fiat-backed stablecoins differ in regulation due to their underlying assets. For instance, specific regulations such as the Guiding and Establishing National Innovation for US Stablecoins Act (GENIUS Act) and the Stablecoin Transparency and Accountability for a Better Ledger Economy (STABLE) Act have emerged in the US for USD-backed stablecoins. However, no specific regulations exist for gold-backed stablecoins as of March 31, 2025, though they are expected to adhere to the usual banking and financial regulations. Can gold-backed stablecoins surpass USD-backed coins in adoption? Two factors favoring gold-backed stablecoins are their inflation-resistant properties and long-term stability. As Bitcoin advocate Max Keiser points out, gold enjoys greater global trust than the US dollar, particularly among nations with strained relations with the US. But is this enough for gold-backed stablecoins to get ahead of its more celebrated competitor?USD-backed stablecoins, often under scrutiny in the days of the Biden administration, are now enjoying the support of the US government headed by President Donald Trump. The current dispensation views USD-backed stablecoins as a potent tool to maintain the status of the US dollar as the world's reserve currency. While the Trump administration has been crypto-friendly since it took over, its support of the GENIUS Act and the STABLE Act, which await Congressional approval, is further testimony of this approach.Treasury Secretary Scott Bessent has emphasized stablecoins as a strategic tool for sustaining the dollar’s reserve currency status. Federal Reserve Governor Christopher Waller has echoed this sentiment, supporting stablecoins as a means to uphold US dollar hegemony.Still, countries including Russia, China and Iran, arch-rivals of the US, might prefer gold-backed stablecoins over USD-backed stablecoins because the bullion-powered coins may help them limit the influence of the US dollar. According to Keiser, China and Russia collectively hold around 50,000 tons of gold, more than officially reported. If true, this gold could be used to roll out gold-backed stablecoins.If gold-backed stablecoins gain wider adoption, they could challenge the US government’s efforts to maintain dollar dominance through stablecoins. To that end, stablecoin issuer Tether introduced Alloy (aUSDT) in June 2024, a gold-backed digital asset tied to Tether Gold (XAUT), a token representing claims on physical gold. Gold-backed stablecoins resemble the gold-backed US dollar before 1971. That was the year when President Richard Nixon abolished the convertibility of the US dollar to gold. XAUT has enjoyed a 15.7% price increase year-to-date, suggesting the growth potential of the bullion-backed stablecoins.While gold-backed stablecoins present a compelling alternative, the battle for dominance between gold and USD-pegged stablecoins remains ongoing, influenced by geopolitical factors, financial policies, and market demand.