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by Cointelegraph by William Suberg on April 24, 2025 at 3:25 pm

Key points:Bitcoin is setting up a showdown with leveraged shorts immediately above its yearly open price.That key level near $93,500 is the main target for traders hoping that BTC/USD will cement its latest breakout.The next support retest could involve $87,000, analysis suggests.Bitcoin (BTC) consolidated below a key resistance target on April 24 as a BTC price forecast brought sub-$90,000 levels into play.BTC/USD 1-hour chart. Source: Cointelegraph/TradingViewAnalyst: BTC price correction “fairly normal”Data from Cointelegraph Markets Pro and TradingView showed BTC/USD retesting $92,000 as support overnight.The pair broadly maintained six-week highs while global markets remained at a loss over the trajectory of the ongoing US trade war.“The market is now up over +1% on the day on no news at all,” trading resource The Kobeissi Letter summarized alongside a chart of the S&P 500 in part of its latest analysis on X.“As we have seen multiple times this year, it almost feels like someone is front-running something right now. We expect to see some sort of bullish announcement soon.”S&P 500 4-hour chart. Source: Cointelegraph/TradingViewBitcoin continued to brush off news events, leaving volatility to equities, while gold attempted to stabilize after slipping from record highs earlier in the week.“Fairly normal to have a slight correction here on Bitcoin as it's just had a massive breakout,” crypto trader, analyst and entrepreneur Michaël van de Poppe told X followers on the day.“Buyers likely going to step in and then we'll be continuing our path towards a new ATH.”BTC/USDT 12-hour chart with RSI data. Source: Michaël van de Poppe/XOthers increasingly entertained the idea of a deeper correction following brisk gains for BTC/USD, potentially taking the market back below the $90,000 mark.“A dip to 88k would be lovely,” popular trader Inmortal argued. A dip to 88k would be lovely.If the market gives it, I will probably play one of these two setups, or both.$BTC pic.twitter.com/ysqiheds7X— Inmortal (@inmortalcrypto) April 24, 2025Trader and analyst Rekt Capital had a similar conception of the potential support retest move.BTC price action, he observed, was closely copying behavior from the middle of its previous bull market in 2021.“Part of Bitcoin continuing to repeat mid-2021 price tendencies relative to the Bull Market EMAs would be a dip into the $87000 (green EMA) level for a post-breakout retest, if at all needed,” he commented on a weekly chart showing two exponential moving averages (EMAs).“Depends on how BTC Weekly Closes relative to $93500.”BTC/USD 1-week chart. Source: Rekt Capital/XBitcoin bulls seek leveraged shorts wipeoutThe main target for bulls thus remained the yearly open level just above $93,000, one which remained intact as resistance at the time of writing.Related: Bitcoin exchange outflows mimic 2023 as whales buy retail 'panic'This coincided with a block of potential liquidation levels on exchange order books, providing fertile conditions for a “short squeeze” should price attack them.$BTC Liquidation heatmap shows that liquidity of leveraged positions is building up on both sides. Leveraged longs mainly around $91,400.Leveraged shorts around $93,500-$94,500. pic.twitter.com/d2jCyO2FdC— chad. (@chad_ventures) April 24, 2025The latest data from monitoring resource CoinGlass showed the largest concentration of liquidation leverage centered around $93,600.Earlier, Cointelegraph reported on a large trading entity dubbed “Spoofy the Whale” removing a wall of asks at $90,000.BTC liquidation leverage data. Source: CoinGlassThis 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.

on April 24, 2025 at 3:21 pm

Days after a deadly attack left 26 people dead in India-controlled Kashmir, relations between the nuclear-armed neighbours have plummeted.

by Cointelegraph by Igor Zemtsov on April 24, 2025 at 3:00 pm

Opinion by: Igor Zemtsov, chief technology officer at TBCCCrypto security is a ticking time bomb. Updatable firmware might just be the match that lights the fuse.Hardware wallets have become the holy grail of self-custody, the ultimate safeguard against hackers, scammers and even government overreach. There’s an inconvenient truth, however, that most people ignore: Firmware updates aren’t just security patches. They’re potential backdoors, waiting for someone — whether a hacker, a rogue developer or a shady third party — to kick them wide open.Every time a hardware wallet manufacturer pushes an update, users are forced to make a choice. Hit that update button and hope for the best, or refuse to update and risk using outdated software with unknown vulnerabilities. Either way, it’s a gamble. In crypto, a bad gamble can mean waking up to an empty wallet.Firmware updates aren’t always your friendUpdating firmware sounds like common sense. More security! Fewer bugs! Better user experience!Here’s the thing: Every update is also an opportunity not just for the wallet provider but for anyone with the power, or motivation, to tamper with the process.Hackers dream of firmware vulnerabilities. A rushed or poorly audited update can introduce tiny, almost imperceptible flaws — ones that sit in the background, waiting for the right moment to drain funds. And the best part? Users will never know what hit them.Then there’s the more unsettling possibility: deliberate backdoors.Recent: Hardware wallet Ledger helps competitor Trezor resolve security vulnerabilityTech companies have been forced to include government-mandated surveillance tools before. What makes anyone think hardware wallet makers are exempt? If a regulatory agency — or worse, a criminal organization — wants access to private keys, firmware updates are the perfect attack vector. One hidden function. One disguised line of code. That’s all it takes. Still think firmware updates are harmless? Firmware vulnerabilities are already being exploitedThis isn’t some far-fetched, doomsday scenario. It has already happened.Ledger, one of the biggest names in crypto security, had a major security crisis in 2018 when security researcher Saleem Rashid exposed a vulnerability that allowed attackers to replace Ledger Nano S firmware and hijack private keys. Nearly 1 million devices were at risk before a fix was rolled out. The scary part? There was no way for users to know if their devices had already been compromised.In 2023, OneKey suffered a similar nightmare. White hat hackers demonstrated that its firmware could be cracked in mere seconds. No crypto was lost — this time. But what if real attackers had found the flaw first?Then came the “Dark Skippy” exploit, taking firmware-based attacks to an entirely new level. With just two signed transactions, hackers could extract a user’s entire seed phrase — without setting off a single alarm. If firmware updates can be manipulated this easily, how can anyone be sure their assets are safe?The hidden price of updatable firmwareTo be fair, not all firmware updates are security disasters. Ledger uses a proprietary operating system and secure element chips for added protection now. Trezor takes an open-source approach, allowing the community to scrutinize its firmware. Coldcard and BitBox02 give users manual control over updates, reducing — but not eliminating — risk.Here’s the real question: Can users ever be 100% sure that an update won’t introduce a fatal flaw?Some wallets have decided to eliminate the risk altogether. Tangem ships with fixed, non-updatable firmware, meaning that its code can never be altered once the device leaves the factory. No updates. No patches. Of course, this approach has its trade-offs. If a vulnerability is discovered, there’s no way to fix it. But in security, predictability matters. Real crypto security means taking back controlThe crypto market was worth $2.79 trillion as of March 2025. With that much money on the table, cybercriminals, rogue insiders and overreaching governments are always looking for weak points. Hardware wallet makers should be laser-focused on security.Choosing a hardware wallet shouldn’t feel like gambling with private keys. It shouldn’t involve blind trust in a corporation’s ability to push updates responsibly. Users deserve more than vague reassurances. They deserve security models that put control where it belongs — with them.Security isn’t about convenience. It’s about control. Any system that requires trusting unknown developers, opaque update processes or firmware that can be changed at will? That’s not control. That’s a liability.The only real way to keep a hardware wallet safe? Remove the guesswork. Strip away the blind trust. Always research the developers’ backgrounds, check their track record for security incidents, and see how they’ve handled past vulnerabilities. Stick to verifiable facts — security should never be based on assumptions.Opinion by: Igor Zemtsov, chief technology officer at TBCC.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 Sam Bourgi on April 24, 2025 at 3:00 pm

Theo, a provider of onchain trading infrastructure, has raised $20 million from 17 investors to enhance its institutional-grade trading platform aimed at retail investors.The funding round was co-led by Hack VC and Anthos Capital, with additional participation from venture capital firms Manifold Trading, Miranda Ventures, Flowdesk, MEXC and Amber Group, Theo disclosed on April 24. Citadel, Jane Street, IMC and JPMorgan were listed as angel investors in the deal.Created by former quant traders, Theo gives retail investors access to advanced strategies like high-frequency trading and market making, which are tools typically used by professional trading firms.Theo’s infrastructure can be used across centralized exchanges and decentralized financing protocols, the company said. The Theo network secures nearly $29 million in total value locked as of April 23, according to industry data. Theo’s total value locked is down from its peak in February. Source: DefiLlamaTheo is part of a wave of blockchain protocols attempting to bridge the gap between institutional finance and retail. Companies like Polygon, Fireblocks, Ondo Finance, Lido, and BloFin have all played active roles in advancing this space.Related: Institutions break up with Ethereum but keep ETH on the hookInstitutions are also coming onchainWhile companies like Theo are working to bring Wall Street-level sophistication to crypto-native users, there’s strong evidence that influence is flowing in the opposite direction, too.After years of speculation, institutional involvement in digital assets is now a reality, driven by the launch of Bitcoin exchange-traded funds, the rise of real-world asset tokenization, the lure of onchain lending, and the growing dominance of stablecoins as a preferred funding method.According to credit rating agency Moody’s, secondary markets built on the blockchain can streamline the investing process by removing inefficiencies and lowering barriers to asset ownership. These trends are a major reason why the majority of institutional investors say they plan to increase their crypto allocations this year, according to a recent survey by Coinbase and EY-Parthenon.The survey also determined that three-quarters of institutions could be active DeFi users within two years. Magazine: Altcoin season to hit in Q2? Mantra’s plan to win trust: Hodler’s Digest, April 13 – 19

by Cointelegraph by Adrian Zmudzinski on April 24, 2025 at 2:59 pm

Tether Investments — the investment arm of leading stablecoin issuer Tether — acquired additional shares in Juventus Football Club.According to an April 24 announcement, with its latest investment, Tether brought its total participation in Juventus to over 10.12% of the issued share capital, representing 6.18% of the voting rights. The investment follows the firm’s initial acquisition of 8.2% of the issued shares.Tether's second Juventus investment announcement’s image. Source: TetherTether CEO Paolo Ardoino said that the investment is not only a short-term financial maneuver but “a commitment to innovation and long-term collaboration.” He added:“We believe Juventus is uniquely positioned to lead both on the field and in embracing technology that can elevate fan engagement, digital experiences, and financial resilience. We’re excited about the opportunities ahead.”Founder of Obchakevich Research, Alex Obchakevich, told Cointelegraph that Tether’s Juventus stake increase is an “attempt to prove to non-crypto investors and users that the company is much more than just a stablecoin.” Investors may also not be the only target:“It is also a way to improve your image with regulators (especially in the European Union) by demonstrating transparency and stability.“Obchakevich added that he believes “Tether is trying to return to the European market” after losing access due to compliance issues with the local Markets in Crypto-Assets Regulation (MiCA). Leading crypto exchange Binance delisted Tether’s stablecoin, USDt (USDT), in the European Economic Area (EEA) earlier this month, and now a “stake in Juventus is one of the options for returning to the EU market.”What is Juventus?Juventus is a professional soccer club based in Turin, Italy, widely regarded as one of the most successful and popular teams in the history of Italian and European soccer. Founded in 1897, Juventus, commonly known as “Juve,” competes in Serie A, Italy’s top soccer league.The club has won numerous national and international titles, including multiple Serie A championships, Coppa Italia trophies and UEFA competitions. Tether announced its intention to work closely with the soccer club’s leadership and stakeholders, as well as provide further financial support:“As a further demonstration of its long-term commitment, Tether is also open to participating in any future equity injections to help strengthen Juventus’s financial foundation and avoid dilution of its position.“Tether is on a shopping spreeThis is just the latest in a long series of investments by Tether. According to reports from earlier this month, Brandon Lutnick, chair of investment banking firm Cantor Fitzgerald, is partnering with SoftBank, Tether and Bitfinex to create a $3 billion crypto acquisition company.Tether is also involved in Bitcoin (BTC) mining. The firm recently announced the intention to deploy its existing and future Bitcoin hashrate to Ocean’s Bitcoin mining pool to strengthen the network’s decentralization.Tether also just bought 8,888 Bitcoin in the first quarter of 2025. Data from the onchain analytics platform Arkham Intelligence shows that the firm currently holds 95,721 BTC, worth roughly $8.89 billion at the time of writing.In late March, Tether also invested €10 million ($11.4 million) in the Italian media company Be Water. Some of the investments are already paying off, with Canadian YouTube alternative Rumble recently launching its wallet with support for Tether’s USDT stablecoin. This comes after Tether invested $775 million in Rumble in late 2024.Tether’s recent spending spree is likely at least partly due to the company’s intention to hedge against a falling US dollar. Still, Obchakevich thinks this is not the whole story since “companies like Tether are playing for the long haul, and a situational drop in the dollar in the market due to tariffs would not be a reason to spend money quickly.” He said:“The deal with Juventus is not a situational story, I’m sure it was prepared long before the tariffs and the dollar fell.“

on April 24, 2025 at 2:54 pm

The US president has demanded Moscow cease bombarding the Ukrainian capital of Kyiv as Washington attempts to broker a peace deal.

by Cointelegraph by Callum Reid on April 24, 2025 at 2:44 pm

Key takeawaysAI-powered crypto trading bots use machine learning to make smarter, faster trading decisions — without emotions.Setting up a bot involves choosing a platform, connecting your exchange, configuring strategies and running backtests.Bots can run 24/7, react to data instantly and are ideal for passive income seekers and active traders.While powerful, they’re not “set-it-and-forget-it” tools. You’ll need to monitor performance and tweak strategies over time.Understanding your goals (long-term investing, day trading, etc.) helps you choose the right bot and strategy.Crypto markets move fast and rarely sleep. That’s why AI-powered crypto trading bots are no longer a novelty. These bots use machine learning to analyze data, identify patterns and execute trades in real time, often faster and with more discipline than human traders.From beginners looking to automate simple strategies to professionals deploying predictive models, AI bots offer a scalable way to participate in volatile markets.This guide explains how to build the best AI trading bots for crypto, how AI trading bots work, how to set them up correctly and what to avoid for long-term performance, not just short-term automation.What are AI-powered crypto trading bots?AI-powered crypto trading bots are programs that automatically buy and sell crypto assets based on machine learning algorithms, rather than fixed rules. These bots ingest large volumes of historical and real-time data — price action, order book depth, volatility, even social sentiment — and use that information to detect opportunities.Unlike traditional bots that act only when predefined conditions are met, AI bots can adjust dynamically. For example, a bot trained on past market behavior might delay execution during uncertain conditions or increase position sizing during high-confidence periods. This adaptability makes them particularly useful in high-frequency, volatile environments where speed and objectivity matter.Advanced platforms like Freqtrade and Trality allow users to import custom-trained models, while others like Stoic by Cindicator use in-house quant research to automate portfolio balancing. The core advantage lies in their ability to reduce emotional trading and operate around the clock without fatigue.How to set up an AI crypto trading botGetting started with an AI-powered crypto trading bot is easier than ever, especially with today’s user-friendly platforms. But behind the ease of clicking “Start” lies a setup process that determines whether the bot performs reliably or becomes a source of costly errors. Proper setup ensures alignment with market conditions, trading goals and risk tolerance.Below are a few key points to bear in mind while setting up crypto trading bots:Choose a platform that supports AI functionality. Tools like Freqtrade, Trality and Jesse AI allow importing machine learning models. Others like 3Commas, Pionex and Cryptohopper focus on user-friendly automation and visual strategy builders.Connect the bot to an exchange using API keys. Security settings should always disable withdrawal permissions, enable 2FA and restrict access via IP whitelisting where possible.Configure the strategy. This includes defining trade pairs, order sizes, stop-loss and take-profit rules, cooldowns and maximum concurrent positions. Some platforms support prebuilt logic, while others allow full scripting with Python.Backtest the strategy using historical data. Platforms like 3Commas, Cryptohopper and Freqtrade support robust backtesting to measure risk-adjusted performance across different market phases.Deploy in live conditions with minimal capital. Initial live testing should include real-time monitoring of execution logs, fill prices, slippage and fees. Alerts should be set for failed orders or drawdowns. Most bots support integrations with Telegram, Slack or email for notifications.Choosing the right AI botSelecting the right AI-powered crypto trading bot is a foundational step toward building a sustainable, automated trading strategy. The decision should align with the desired strategy complexity, technical skill level, risk appetite and required exchange support. Bots differ not only in interface and pricing but also in how deeply they incorporate machine learning and adaptive logic.Some bots, like Pionex and Stoic by Cindicator, prioritize simplicity and automation with minimal configuration, targeting users who prefer passive execution or prebuilt strategies. Others, such as Freqtrade, Trality and Jesse AI, offer full control, deep customization and support for importing externally trained AI models — catering to users with programming experience or quantitative backgrounds.Strategy fit: Pionex and Bitsgap could be ideal for grid and dollar-cost-averaging (DCA) strategies. For trend-based or breakout strategies, 3Commas supports custom logic with popular indicators. Freqtrade and Jesse AI are best for those building predictive models with Python.Level of AI support: Some bots like Stoic by Cindicator use built-in quant models. Others like Trality and Freqtrade allow importing externally trained machine learning models for advanced control.User experience: No-code users can explore platforms like Cryptohopper and Kryll. Intermediate users often prefer 3Commas. Developers will benefit from Trality’s Python IDE or Freqtrade’s scripting interface.Exchange compatibility: Most bots support Binance, Kraken, KuCoin, Coinbase and Bybit. Platforms such as 3Commas and Bitsgap offer multi-exchange support and are especially popular among copy-trading users, allowing them to mirror professional strategies across multiple accounts in real time.Backtesting capabilities: Trality, Cryptohopper and 3Commas include visual backtesting. Jesse AI and Freqtrade offer deeper simulations with latency and slippage modeling.Security features: Look for bots with encrypted API key storage, IP whitelisting and two-factor authentication. These are standard on 3Commas and Trality.Pricing models: Pionex is free to use. Platforms like 3Commas and Trality run on subscriptions. Freqtrade and Jesse AI are open-source but require technical setup.Common mistakes while using AI bots and how to avoid themDespite the availability of powerful AI tools, some mistakes still lead to poor outcomes. These errors typically arise from misconfiguration, over-optimization or lack of oversight.Overfitting backtests: Many bots look great on paper but fail when they go live. Use walk-forward testing and avoid strategies that only succeed in past conditions.Relying on marketplace bots: Marketplace strategies from platforms like Kryll or Cryptohopper often lack adaptability. Always test and tweak before deployment.Weak risk controls: Skipping stop-losses or using oversized positions can wipe out capital. Bots like Freqtrade and Trality let users define precise risk limits. Make sure to use them.Ignoring trading costs: Backtests often ignore slippage and fees. Jesse AI and Freqtrade offer built-in tools to simulate these costs more accurately.Lack of monitoring: Bots need regular checks. Platforms like 3Commas and Trality support real-time alerts for failed trades or sudden drawdowns.Overleveraging: Using high leverage on exchanges like Bybit or Binance Futures (crypto derivative exchange) can lead to liquidation. Apply strict limits from the start.Wrong market fit: DCA works well in declining markets; breakout bots don’t. Platforms like Stoic and Kryll offer filters or pause triggers to prevent misfires.Avoiding these common errors requires thoughtful setup, continuous validation and disciplined risk controls. AI bots can enhance performance but require human oversight, strategic clarity, and technical awareness to deliver consistent results.The future of crypto AI tradingAI crypto trading is entering a new phase where real-time learning replaces static strategy templates. Instead of relying on predefined signals, emerging trading systems use reinforcement learning and online model retraining to adapt continuously to shifting market dynamics. Platforms such as Freqtrade, combined with cloud-native tools like Google Vertex AI or AWS SageMaker, enable this shift by supporting pipelines that monitor live order books, price volatility and macroeconomic indicators to automatically refine decision-making thresholds during active trading.A major evolution is the integration of large language models (LLMs) into trading workflows. Unlike traditional bots limited to charts and price data, LLM-enhanced agents interpret unstructured information — central bank statements, tokenomics updates, SEC filings or even Discord announcements — and convert it into actionable insights. Early implementations are emerging in institutional quant desks and experimental tools like Delphi AI and Kaito, which allow bots to pause or adjust positions based on narrative sentiment, regulatory shifts or reputational risk events in real time.AI is also expanding its footprint onchain, with smart contract-based agents executing trades, managing liquidity and optimizing DeFi yield in a fully decentralized manner. Projects like Fetch.ai are developing AI agents that operate autonomously across protocols without human intervention. These agents interact directly with AMMs, lending pools and governance protocols, ushering in an era where the lines between algorithmic trading, protocol participation and AI reasoning are entirely blurred within the blockchain itself.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 Nancy Lubale on April 24, 2025 at 2:29 pm

Key takeaways:XRP price drops 5% amid a marketwide correction.XRP Ledger Foundation spots a backdoor vulnerability in its code library.The 6% drop in open interest over the last 24 hours signals waning confidence. Over $11 million in long position liquidations liquidated.XRP (XRP) fell on April 24, down 5% in the last 24 hours to trade at $2.16, fueled by fundamentals, market dynamics, and technical factors.XRP/USD hourly chart. Source: Cointelegraph/TradingViewLet’s take a closer look at the factors driving XRP down today.Backdoor vulnerability in XRP Ledger sparks concernA recently identified backdoor vulnerability in the XRP Ledger’s JavaScript library has likely rattled investor confidence, leading to today’s correction in XRP price.The issue was first detected on April 21 by Aikido Security’s monitoring system, which revealed that sophisticated attackers compromised the library, introducing a backdoor designed to steal private keys and gain unauthorized access to crypto wallets.Source: Aikido SecurityThe XRP Ledger Foundation confirmed the incident in an April 22 statement, saying they were aware of the issue and the development team is “working on fixing it.”Earlier today, a security researcher from @AikidoSecurity identified a serious vulnerability in the xrpl npm package (v4.2.1-4.2.4 and v2.14.2).We are aware of the issue and are actively working on a fix.A detailed post-mortem will follow.— XRP Ledger Foundation (Official) (@XRPLF) April 22, 2025In a follow-up post on X, the XRP Ledger Foundation said it had already upgraded the code repository to “remove the previously compromised version.”While no immediate exploits were reported, the discovery raised fears of potential supply chain attacks, prompting developers and users to urgently review dependencies.Drop in OI dampens XRP’s uptrendXRP open interest (OI) has decreased by 6.7% to $3.90 billion over the last 24 hours. This decline in OI signals reduced trader confidence and liquidity, driving down prices.XRP derivatives data. Source: CoinGlassThe drawdown in XRP price has also triggered liquidations on the last day, where long positions valued at $11.61 million were forcibly closed, compared to just $1.58 million in shorts. This reflects heightened selling pressure as bullish traders are forced to sell at a loss, further pushing prices lower. The combination of forced sell-offs and low market participation has amplified XRP’s bearish momentum.The 24-hour long/short ratio of 0.9399 and a 22% drop in trading volume to $8.82 billion suggests a waning bullish sentiment.XRP Long/Short Ratio Chart. Source: CoinGlassXRP price: temporary correction?From a technical perspective, the XRP’s losses today are part of a correction within a classic bull flag pattern, which points to a continuation of the uptrend. XRP/USD is attempting a breakout from the flag in the four-hour timeframe, as shown in the chart below.A decisive four-hour candlestick close above the flag’s upper boundary at $2.18 and later a rise above the flag’s high of $2.30, accompanied by high volume, could see XRP price rally toward the bullish target of the prevailing chart pattern at $2.42.TOTAL crypto market capitalization daily performance chart. Source: TradingViewXRP price remains above all the major moving averages, suggesting that the market conditions still favor the upside. However, if XRP closes below the support level of $2.18, it would extend the decline to retest the $2.10 to $2.13 demand zone, which is the 200-day SMA, 50-SMA, and the lower boundary of the flag.Popular analyst Dom said the altcoin must overcome the resistance at $2.20 before making a run toward $2.40 or higher.Source: DomThis 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 Cointelegraph on April 24, 2025 at 2:06 pm

Today in crypto, economist and author of The Bitcoin Standard, Saifedean Ammous, said US President Donald Trump’s decision to reverse higher tariffs was likely a reaction to rising bond yields and exposed weaknesses in the US economy, Strike founder Jack Mallers is set to lead a crypto firm set to compete with Michael Saylor’s Strategy, and Trump is hosting a dinner for top holders of his memecoin.Trump fought the bond market, the bond market won: Saifedean AmmousAnalysts are criticizing the financial implications of Trump’s import tariffs, a development that some say highlights Bitcoin’s (BTC) unique economic properties during times of global uncertainty.Trump’s 90-day pause on higher reciprocal tariffs, reverting them to a 10% baseline for most countries except China, has exposed vulnerabilities in the US bond market, according to critics.Economist and author of The Bitcoin Standard, Saifedean Ammous, said Trump’s decision to reverse the higher tariffs was likely a reaction to rising bond yields, suggesting the administration’s hand was forced.“Trump fought the bond market and the bond market won,” Ammous said in an April 23 X post. “The gambit seemed to work for the first day, and the huge crash in the stock market was presented as a small price to pay for fiscal sustainability.“But then the bonds began to crash, and it became clear how disastrous the tariffs were, and how wrong it was to expect that deliberately crashing the stock market would boost the bond market,” he added.Source: Saifedean AmmousStrike’s Jack Mallers to head firm seeking superior Bitcoin play to MSTRTwenty One Capital, a new Bitcoin treasury company led by Strike founder Jack Mallers with the support of Tether, SoftBank and Cantor Fitzgerald, is looking to supplant Michael Saylor’s Strategy to become the “superior vehicle for investors seeking capital-efficient Bitcoin exposure.”Wow. @jackmallers absolutely smashed this interview. pic.twitter.com/CNY6n1esvB— The Wolf Of All Streets (@scottmelker) April 23, 2025Twenty One revealed it plans to launch with 42,000 Bitcoin (worth $3.9 billion) with roughly 23,950 BTC coming from Tether, 10,500 BTC from Softbank and 7,000 BTC from Bitfinex, which will be converted into equity at $10 per share, according to an April 23 statement.“Our mission is simple: to become the most successful company in Bitcoin, the most valuable financial opportunity of our time. We’re not here to beat the market, we’re here to build a new one,” said Mallers, the founder and CEO of Bitcoin payments-focused firm Strike.“A public stock, built by Bitcoiners, for Bitcoiners.”Top TRUMP tokenholders revealed? US President to host memecoin dinnerSome of the top holders of Donald Trump’s memecoin could come out of the shadows to appear for a dinner the US President is planning to host on May 22.As of April 23, the official Trump memecoin (TRUMP) website offered the opportunity for the “top 220” holders to meet the president in person at his golf club in Washington, DC. At the time of publication, the guest list for the event was unclear, but the project stated any tokenholder who applied had to pass a background check, “can not be from a [Know Your Customer] watchlist country,” and could not have any additional guests.The memecoin, which the then-president-elect launched on Jan. 17 before taking office, has been heavily criticized by the crypto industry and lawmakers for potentially allowing foreign officials and interest groups to send money directly to the US President without proper disclosure and oversight. The team behind the project controls 80% of the total supply, while the identities of many of the other top tokenholders are mainly unknown.The price of the TRUMP memecoin surged roughly 52% from $9.30 to $14.20 shortly after the dinner announcement. After the token launched on Jan. 17, the project’s market capitalization increased to roughly $15 billion before dropping more than 50% by Jan. 20.Top TRUMP memecoin holders as of April 23. Source: TRUMP token

by Cointelegraph by Zoltan Vardai on April 24, 2025 at 1:45 pm

Bitcoin’s price trajectory may be suppressed ahead of its upcoming “omega candle” rally, according to Prince Filip Karađorđević, the hereditary prince of Serbia and Yugoslavia.In an April 24 interview with Simply Bitcoin, Filip said some market participants may be limiting Bitcoin (BTC) price action.“People are able to control the market to some extent,” he said. “Maybe that’s what acted on the 2021 market that suppressed its price from jumping high up. We could get that again in 2025, but there will be one point where [Bitcoin price] will run away.”Filip added that Bitcoin remains a fundamentally deflationary asset and said its value is “always going to rise over time.”Source: Simply BitcoinHe referenced the concept of the “omega candle,” made popular by Bitcoin advocate and Jan3 CEO Samson Mow. The theory predicts Bitcoin’s growth trajectory will explode after it hits the $100,000 mark.Related: Bitcoin acting ‘less Nasdaq,’ more like gold, despite 60% recession odds“You’ll start to go up by 10,000 a day or drop by 10,000 a day. And this is the God candle. After that, we’ll start to see omega candles, which are 100,000 increments daily,” said Mow in an exclusive interview with Cointelegraph in November 2024.Factors contributing to Bitcoin’s growth include the growing distrust in the traditional financial system, according to Mow.Related: Bitcoin ETFs log $912M inflows in ‘dramatic’ investor sentiment boostETF inflows, macro relief drive momentumBitcoin price saw an over 9% recovery over the past week as the US spot Bitcoin exchange-traded funds (ETFs) accumulated over $2.2 billion worth of Bitcoin in the three days leading up to April 23, Farside Investors’ data shows.Source: Farside InvestorsThe price action is in line “with our Bitcoin relative strength expectations with respect to equities and the dollar,” analysts from Bitfinex exchange told Cointelegraph, adding:“Bitcoin is rallying due to a combination of macro relief, strong ETF inflows, and growing expectations that the Fed will maintain policy flexibility amid softening economic data.”Bitcoin may continue to see more upside if “equities continue higher during earnings week,” but the “still-elevated macro uncertainty could limit broad-based upside,” the analysts added.Stock and cryptocurrency investors are also concerned about a potential recession in the US. JPMorgan estimates a 60% probability for a recession in 2025, citing US President Donald Trump’s 145% tariffs on China as a “material threat to growth” that increases the odds of an economic downturn.Magazine: Bitcoin’s odds of June highs, SOL’s $485M outflows, and more: Hodler’s Digest, March 2 – 8

by Cointelegraph by Savannah Fortis on April 24, 2025 at 1:30 pm

What if paying with crypto was as easy and as fun as sending a meme on X?In the latest episode of The Clear Crypto Podcast, StarkWare’s Nathan Jeffay and Cointelegraph’s Gareth Jenkinson sit down with Stefana Banciu, growth lead at Pulsar Money, to explore how blockchain is bringing payments into the digital age, with speed, transparency and a dash of playfulness.Transforming Web3 paymentsBanciu lays out how Pulsar is pushing the frontier of Web3 payments with features like social transfers that allow users to send crypto directly through X, simply by tagging a handle. “You can actually have super seamless, easy and convenient payments, and it can also be super fun.”The episode cuts through the crypto jargon to tackle a question with mainstream resonance: Why aren’t we using crypto for everyday transactions yet?“I wish I could say yes, but that wouldn’t be a true reflection of the state of affairs,” Jenkinson admits when asked if crypto is widely used for payments. He points to Mastercard-linked crypto cards as a stopgap, but says the real revolution hasn’t yet reached the coffee shop counter.Related: Luxury app Dorsia taps MoonPay for crypto paymentsFor Banciu, the path forward lies in bridging fun and fundamentals. While crypto’s founding ideals include borderless, permissionless transfers and low fees, she says onboarding the next wave of users will require experiences that are intuitive, social and entertaining.Their platform includes a “social payments module” that lets users send crypto directly through X by tagging a handle, a small but powerful step toward making transactions feel more like communication than banking.“You can actually send funds directly on Twitter,” Banciu says. “This is a cool use case to showcase people that yes, with crypto payments you can actually have super seamless, easy and convenient payments.”But convenience alone isn’t enough. Banciu says making crypto fun is key to onboarding the next wave of users. “We all know within the crypto space, the whole community that is here for perhaps something else than payments, which is quite boring, right?” she adds. “So we said, OK, why not think of a way to onboard users, make them do payments in a fun way?”For Jenkinson, making crypto usable as a true “medium of exchange” is essential to its legitimacy.“If we’re not using cryptocurrencies as a medium of exchange, then it’s not solving one of the core characteristics that makes money, money.”To hear the full conversation on The Clear Crypto Podcast,  listen to the full episode on Cointelegraph’s Podcasts page, Apple Podcasts or Spotify. And don’t forget to check out Cointelegraph’s full lineup of other shows! Magazine: SEC’s U-turn on crypto leaves key questions unanswered

by Cointelegraph by Ezra Reguerra on April 24, 2025 at 1:21 pm

A bill that would allow New Hampshire to invest a portion of its state funds in digital assets and precious metals has advanced to a full Senate vote after passing a second committee.On April 23, House Bill 302 (HB 302) was reviewed in the second Senate committee and passed in a 4-1 vote.The legislation, introduced in January, cleared the New Hampshire House earlier this month in a 192–179 vote. It now faces a vote by the full Senate and, if approved, will require the governor’s signature to become law.Once enacted, it would allow the New Hampshire treasury to use 10% of the state’s general funds to invest in crypto with a market cap of over $500 billion — a threshold currently met only by Bitcoin (BTC).Source: Bitcoin LawsDemocratic representative opposes New Hampshire’s crypto reserve bill  During a debate before the full House vote, Democratic Representative Terry Spahr argued that the bill is unnecessary. The lawmaker said it could undermine the future security of the state’s digital asset stockpile. Spahr argued that the state treasurer already has the authority to manage investments without the bill.Others said that it could earn the state good returns for its investment. Republican Representative Jordan Ulery said the investments could net the state a “large amount of money.”Related: US federal agencies to report crypto holdings to Treasury by April 7Bitcoin Laws, which tracks the progress of digital asset legislation, shows that New Hampshire also has two more blockchain-related bills going through its legislature. HB 639 addresses blockchain dispute resolution and regulatory frameworks, while HB 310 focuses on real-world asset tokenization and stablecoin usage.New Hampshire’s progress comes as Arizona pursues a more aggressive approach by exploring the creation of a strategic Bitcoin reserve, aiming to become the first US state to implement the policy.Magazine: Ethereum maxis should become ‘assholes’ to win TradFi tokenization race

by Cointelegraph by Adrian Zmudzinski on April 24, 2025 at 1:00 pm

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

by Ethan Rix and Sam Nichols on April 24, 2025 at 12:40 pm

The 53-year-old Sydney man accused of murdering the 19-year-old earlier this year has been found dead in his cell at Silverwater Correctional Complex.

by Cointelegraph by Amin Haqshanas on April 24, 2025 at 12:39 pm

Asian investment firms are stepping up their Bitcoin accumulation strategies, with Japan’s Metaplanet and Hong Kong’s HK Asia Holdings leading the way.Tokyo-based Metaplanet disclosed on April 24 that it acquired an additional 145 Bitcoin (BTC) for 1.9 billion Japanese yen (around $13.4 million), boosting its total holdings to 5,000 BTC.Metaplanet CEO Simon Gerovich confirmed the company had reached 50% of its initial goal of amassing 10,000 BTC by the end of 2025.Metaplanet CEO Simon Gerovich announcing Bitcoin purchase. Source: Simon GerovichThe firm has been aggressive in its Bitcoin treasury operations, using bond issuances and Bitcoin income strategies such as selling cash-secured BTC put options to finance its acquisitions.Since initiating its Bitcoin strategy, Metaplanet’s stock has surged over 3,000%. The company aims to hold 21,000 BTC by the close of 2026.Related: Strike’s Mallers to head firm seeking superior Bitcoin play to MSTRHK Asia Holdings to raise $8.35 million for BTC purchasesHK Asia Holdings has also announced plans to raise about $65 million Hong Kong dollars ($8.35 million) by issuing new shares and convertible notes to potentially buy more BTC.According to an April 23 filing, the company entered into share subscription and convertible note (CN) subscription agreements after trading hours.The deal includes issuing 3,272,000 new shares at a subscription price of HK$4.01 per share, alongside convertible notes valued at HK$52.38 million in aggregate principal amount. The newly issued shares will represent about 0.82% of HK Asia Holdings’ total shares in circulation.While the filing does not mention that HK Asia Holdings intends to use the funds to buy Bitcoin, many in the crypto community speculated that the capital raise is expected to fund further Bitcoin acquisitions.Source: CointelegraphThe speculation follows HK Asia’s February decision to step into Bitcoin markets. After buying its first BTC on Feb. 16, the firm doubled its share price within a day.By Feb. 20, HK Asia expanded its holdings by purchasing an additional 7.88 BTC, bringing its total to nearly 9 BTC at an average price of $97,021 per coin.Shares in HK Asia were up by around 5.4% on April 24 at the Hong Kong stock market closing, according to Google Finance.Related: Bitcoin exchange buying is back as ‘Spoofy the Whale’ lifts $90K asksSaylor’s Strategy champions Bitcoin strategyMichael Saylor’s Strategy, the world’s largest publicly listed corporate Bitcoin holder, has championed the Bitcoin accumulation strategy by consistently issuing convertible notes and at-the-market (ATM) equity offerings to fund aggressive Bitcoin purchases.In February, Strategy announced plans to raise another $2 billion through 0% senior convertible notes to purchase more Bitcoin.As of April 20, Strategy held 538,200 BTC on its balance sheet. The figure includes the company’s most recent acquisition of 6,556 BTC for about $555.8 million.Magazine: Bitcoin ATH sooner than expected? XRP may drop 40%, and more: Hodler’s Digest, March 23–29

by Cointelegraph by Nancy Lubale on April 24, 2025 at 12:03 pm

Key takeaways:Spot Bitcoin ETF inflows are at their highest since January 2025.Inflows to exchanges down to levels last seen in December 2016.Bitcoin’s negative funding rates could set up a short squeeze.BTC price is above major moving averages, which can now provide support.Bitcoin’s (BTC) price rose to a new range high at $94,700 on April 23, its highest value since March 2.Several analysts said the next psychological resistance remains at $95,000, and the price might drop to test support levels below.“The $94K–$95K zone is clearly the resistance to beat,” said Swissblock in an April 24 post on X. The onchain data provider asserted that the next logical move for Bitcoin would be a pullback toward the $90,000 zone to gain momentum for a move higher.“The $89K–$90K zone could be next to test bulls, but with BTC’s structure strength, these dips are for buying.”BTC/USD chart. Source: SwissblockPopular Bitcoin analyst AlphaBTC opined that the asset will likely consolidate in the $93,000-$95,000 range “before pushing higher to take liquidity above 100K.”Source: AlphBTCSeveral bullish signs suggest that BTC is well-positioned to break above $95,000 in the following days or weeks.Bitcoin ETF demand reboundsOne factor supporting the Bitcoin bull argument is resurgent institutional demand, reflected by significant inflows into spot Bitcoin exchange-traded funds (ETFs).On April 22 and April 23, spot Bitcoin ETFs saw a net flow totaling $936 million and $917 million, respectively, as per data from SoSoValue.As Cointelegraph reported, these inflows have been the highest since January 2025 and more than 500 times the 2025 daily average.Spot Bitcoin ETF flows. Source: SoSoValueThis trend reflects growing confidence among traditional finance players, as observed by market analysts like Jamie Coutts, who noted global liquidity hitting new all-time highs, historically fueling asset price rallies. Source: Jamie CouttsInstitutional buying creates sustained upward pressure on Bitcoin’s price by absorbing the available supply.Less BTC supply on crypto exchangesThe trend of decreasing Bitcoin exchange inflows continues, suggesting a potential reduction in sell pressure. The total amount of coins transferred to the exchanges has dropped from a year-to-date high of 97,940 BTC per day on Feb. 25 to 45,000 BTC on April 23, as per data from CryptoQuant. This is reinforced by a reduction in the number of addresses depositing Bitcoin to exchanges, which has been “steadily declining since 2022,” according to CryptoQuant analyst Axel Adler Jr. He highlights that this metric’s 30-day moving average has dropped to 52,000 BTC, a level last seen in December 2016. “This trend is bullish in itself,” as it represents a fourfold reduction in coin sales over the last three years, the analyst said, adding:“Essentially, this represents growing HODL sentiment, which significantly reduces selling pressure, creating a foundation for further growth.”Bitcoin exchange depositing address count. Source: CryptoQuantNegative funding rates can fuel BTC rallyBitcoin price has rebounded to levels last seen in early March, but futures trades are not entirely on board yet. Bitcoin’s perpetual futures funding rates remained negative between April 22 and April 23, despite the price rising by 11% over the same period, data from Glassnode shows.Bitcoin perpetual futures funding rates. Source: GlassnodeNegative funding rates imply that shorts are paying longs, reflecting a bearish sentiment that can fuel a short squeeze as prices rise.Related: Bitcoin is the ‘cleanest shirt in the dirty laundry’ — BitfinexIn an April 22 post on X, CryptoQuant contributor Darkfost highlighted a similar divergence in Bitcoin’s price and Binance funding rates. “Whereas BTC continues to climb, funding rates on Binance have turned negative, currently sitting at around -0.006 at the time of writing,” Darkfost explained.He added that this is a rare occurrence, which has historically been followed by significant rallies, like Bitcoin’s surge from $28,000 to $73,000 in October 2023, and from $57,000 to $108,000 in September 2024.Bitcoin funding rates on Binance. Source: CryptoQuantIf history repeats itself, Bitcoin may rally from the current levels, breaking above the resistance at $95,000 toward $100,000.Bitcoin trades above the 200-day SMAOn April 22, Bitcoin price rose above a key level: the 200-day simple moving average (SMA) currently at $88,690, fueling a marketwide recovery.The last time the BTC price broke above the 200-day SMA, it experienced a parabolic move, rallying 80% from $66,000 on Oct. 14, 2024, to its previous all-time high of $108,000 on Dec. 17. This level should provide significant support as Bitcoin trades above this key trendline. But if it doesn’t hold, the following levels to watch will likely be $84,379, the 50-day SMA, and the $80,000 psychological level.BTC/USD daily chart. Source: Cointelegraph/TradingViewFor the bulls, the resistance levels at $95,000 and $100,000 are the primary ones to watch. Rising above that would pave the way for a run toward the Jan. 20 all-time high above $109,000.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 Ethan Rix on April 24, 2025 at 11:19 am

Police alleged the 46-year-old woman sexually abused seven elderly residents at a facility in Sydney's south-west and sent recordings of the assaults to her partner.

by Cointelegraph by Zoltan Vardai on April 24, 2025 at 10:57 am

Analysts are criticizing the financial implications of US President Donald Trump’s import tariffs, a development that some say highlights Bitcoin’s unique economic properties during times of global uncertainty.Trump’s 90-day pause on higher reciprocal tariffs, reverting them to a 10% baseline for most countries except China, has exposed vulnerabilities in the US bond market, according to critics.Economist and author of The Bitcoin Standard, Saifedean Ammous, said Trump’s decision to reverse the higher tariffs was likely a reaction to rising bond yields, suggesting the administration’s hand was forced.“Trump fought the bond market and the bond market won,” Ammous said in an April 23 X post. “The gambit seemed to work for the first day, and the huge crash in the stock market was presented as a small price to pay for fiscal sustainability.“But then the bonds began to crash, and it became clear how disastrous the tariffs were, and how wrong it was to expect that deliberately crashing the stock market would boost the bond market,” he added.Source: Saifedean AmmousRelated: Trump’s tariff escalation exposes ‘deeper fractures’ in global financial systemTreasury yields spike after tariff moveFollowing Trump’s tariff announcement, CNBC data shows that the 10-year Treasury yield surged from under 4% to 4.5% amid a sell-off driven by inflation and recession concerns. 10-year bond yield, 1-year chart. Source: CNBC“The rise in yields was the exact opposite of what the administration wanted, and reversing course on the tariffs half a day after they go into effect was absolutely devastating for Trump’s negotiating position,” Ammous said.Some analysts, including Global Macro Investor founder Raoul Pal, have suggested the tariff maneuvering may only be “posturing” for the US to reach a trade agreement with China.“All of the talk about China buckling under the threat of Trump now sounds hilarious in retrospect, when Trump could not keep his tariffs in place for two days,” Ammous said, adding that China “showed absolutely no inclination” to reach out and strike a deal.Delays in reaching a trade agreement may limit the recovery of both equity and cryptocurrency markets, which hinge on the outcomes of the trade negotiations, according to Nansen analysts.Meanwhile, Bitcoin (BTC) is acting “less like a tech stock and more like a hedge against economic uncertainty,” after Trump signaled a “substantial reduction in tariffs on Chinese goods,” Nexo dispatch analyst Iliya Kalchev told Cointelegraph.Related: Crypto, stocks enter ‘new phase of trade war’ as US-China tensions riseTrade wars reignite the need for a Bitcoin standardThe situation has revived long-standing proposals to back the US dollar with Bitcoin. Ammous said the US should keep buying BTC until the government holds enough to fully back the dollar supply, ultimately switching to a Bitcoin standard:“Keep buying bitcoin until the value of the bitcoin held by the US government is enough to back the entire US dollar supply, then go on a bitcoin standard where dollars are redeemable for bitcoin, and have the government never spend more than it earns.”Historically, the dollar was backed by gold and redeemable for a fixed amount of the precious metal until 1933, when President Franklin D. Roosevelt suspended gold convertibility in response to the Great Depression.In 1971, President Richard Nixon halted the dollar’s convertibility into gold, aiming to protect the US gold reserves and stabilize the economy, marking the beginning of the fiat currency system that remains in place today.Bitcoin’s fixed supply, which is hard-coded in its tokenomics, makes it a popular digital competitor to gold. Joe Burnett, director of market research at Unchained, predicted that Bitcoin may rival or surpass gold’s market capitalization in the next decade, projecting that the Bitcoin price will surpass $1.8 million by 2035.Magazine: Bitcoin ATH sooner than expected? XRP may drop 40%, and more: Hodler’s Digest, March 23–29

by Cointelegraph by Ezra Reguerra on April 24, 2025 at 10:18 am

South Korean exchanges Upbit and Bithumb have suspended deposits for Synthetix (SNX) tokens after it was flagged by the Digital Asset Exchange Alliance (DAXA) for potential risks.DAXA, the self-regulatory organization establishing industry standards for South Korean exchanges, designated SNX as a cautionary item. Assets receiving this designation typically undergo rigorous evaluations to determine whether trading can continue or if delisting is necessary.Exchanges may take action, such as adding a warning tag to the asset and urging investors to take caution when engaging with it. Trading platforms can also perform additional measures, like blocking deposits or suspending trading support temporarily. Upbit and Bithumb block SNX depositsIn response to the designation, the biggest exchanges in South Korea said they are blocking deposits for SNX tokens on their platforms. Upbit announced that it had added a trading caution ticker and suspended token deposits. The exchange said it had been monitoring the developments related to the Synthetix USD (sUSD) depegging. It added that this event may damage investors through potential volatility, as SNX is used as collateral for sUSD. The exchange added that it had determined a lack of use cases for the asset, which may cause investors to suffer losses. Upbit said it would conduct a comprehensive review to decide whether to delist the asset or resume normal operations for the token. Bithumb has also blocked deposits for SNX and added a cautionary tag for the token. However, the exchange said this decision could be overturned depending on internal circumstances. If the reason for the designation is resolved, Bithumb said it would lift the restrictions. Korbit and Coinone also published investor alerts to caution traders. The two exchanges added cautionary tags to SNX tokens to alert investors who may want to trade the token. Cointelegraph reached out to Synthetix for comment but did not get a response by publication. Related: South Korean crypto emerges from failed coup into crackdown seasonsUSD struggles to recover dollar pegOn April 10, the sUSD stablecoin dropped to a five-year low of $0.83 after struggling to maintain its dollar peg in the first quarter of 2025. With the stablecoin being collateralized by the project’s native asset, Cork Protocol co-founder Rob Schmitt compared the token to Terra USD (UST), which collapsed in 2022. However, Schmitt said that sUSD has a “more manageable” debt system. On April 18, the stablecoin dipped further to $0.68, with SNX falling by 26% in a 30-day period. A Synthetix spokesperson told Cointelegraph that their team has short, medium and long-term plans to mitigate the risks. On April 21, Synthetix founder Kain Warwick threatened SNX stakers with “the stick” if they didn’t take up a newly launched staking mechanism to fix the sUSD depeg. The executive said they may put extra pressure on stakers if they don’t see enough momentum on the newly implemented mechanism. Since the warning, sUSD prices increased by 27%. On April 24, the stablecoin briefly reached $0.87. However, the token has still failed to recover its dollar peg. Magazine: Uni students crypto ‘grooming’ scandal, 67K scammed by fake women: Asia Express

by Cointelegraph by William Suberg on April 24, 2025 at 10:16 am

Key points:Bitcoin exchange 100-day average netflows are at their most negative since the start of the current bull market in 2023.Exchange balances continue to plumb new multiyear lows.Whales are particularly active buyers this month, while retail shows classic “panic selling.”Bitcoin (BTC) exchanges are evoking the end of the 2022 crypto bear market as user inflows dry up this year.Data from onchain analytics platform CryptoQuant reveals exchanges’ average net flows hitting two-year records.Bitcoin analysis eyes “reaccumulation of assets”Bitcoin may be trading significantly higher than at the start of 2023, but demand for BTC among exchange users is reminiscent of the start of a bull market.CryptoQuant reveals that the 100-day simple moving average (SMA) of exchange net flows recently hit its most negative figure in two years.“This essentially indicates the highest Bitcoin outflow from exchanges since that date,” contributor CryptoOnChain commented in one of its “Quicktake” blog posts on April 23. “A review of historical patterns suggests that this could imply re-accumulation of assets by investors.”Bitcoin exchange netflow 100-day SMA. Source: CryptoQuantA negative net flow tally indicates outflows from exchange surpassing inflows, reflecting more user demand than a desire to send BTC to exchange accounts for a potential sale.As Cointelegraph reported, overall exchange BTC balances are at their lowest in many years.CryptoQuant shows reserves hitting 2.535 million BTC in early April, down over 7% from 2.740 million BTC at the start of the year.Bitcoin exchange reserve. Source: CryptoQuantWhales buy while retail exitsElsewhere, larger Bitcoin entities have added to their portion of the supply throughout April, even as smaller retail investors sell.Related: Bitcoin ETF inflows top 500 times 2025 average in ‘significant deviation’“Whales (1k-10k balance) have been accumulating hard since March, even as price slid,” crypto analyst Miles Deutscher noted on X this week alongside CryptoQuant data. “Every time prices drop, whales accumulate into retail panic selling.”Bitcoin 1K BTC+ balance data. Source: Miles Deutscher/XResearch firm Santiment drew similar conclusions about entities holding at least 10 BTC, which it referred to as “key stakeholders.”“Bitcoin’s key stakeholders comprised of wallets holding between 10 & 10K BTC currently hold 67.77% of the entire supply of crypto’s top market cap asset,” an X post reported. “During the April volatility, these wallets continue to accumulate, and have now added over 53.6K BTC since March 22nd.”Bitcoin 10 BTC+ balance data. Source: Santiment/XThis 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 24, 2025 at 10:15 am

Jamie Jack, the younger brother of sprint sensation Shayna, has announced himself as a contender for a spot on the world championship team by winning silver in the men's 100-metre freestyle at the Australian swimming championships.

by Cointelegraph by Amin Haqshanas on April 24, 2025 at 9:53 am

Shaquille O’Neal has settled with investors who claim losses from the collapse of cryptocurrency exchange FTX, according to an April 23 filing in the US District Court for the Southern District of Florida.The settlement amount remains confidential, with terms expected to be disclosed after investors formally request preliminary court approval, according to court documents.O’Neal and other celebrities and athletes were accused of promoting FTX and allegedly contributing to investor losses by endorsing the now-bankrupt exchange.Source: Court ListenerThe case is part of a broader multidistrict litigation effort, where investors are seeking up to $21 billion in damages from FTX insiders, advisers and promoters, far exceeding the $9.2 billion available through bankruptcy proceedings.Other celebrities embroiled in similar legal troubles for their roles in FTX include NFL quarterback Tom Brady, supermodel Gisele Bündchen, billionaire investor Kevin O’Leary, former NBA player Udonis Haslem, David Ortiz, Naomi Osaka and others. Notably, FTX investors faced challenges in serving O’Neal with legal papers during the early stages of the lawsuit over his promotion of the collapsed exchange.Lawyers representing the victims described O’Neal as “running from the lawsuit,” after multiple failed attempts to deliver court documents. Legal teams reportedly spent months trying to reach the NBA legend, resorting to creative methods, including attempting service during NBA games and at his residences. Related: FTX former execs and promoters to settle class-action lawsuit for $1.3MO’Neal finalizes $11 million settlement over Astrals NFT projectThe settlement with FTX investors comes as O’Neal recently agreed to pay $11 million to resolve a class-action lawsuit tied to his involvement in the Solana-based Astrals NFT project.In May 2023, O’Neal was served with the Astral NFT lawsuit during an NBA game at Miami’s Kaseya Center, formerly the FTX Arena. The class-action lawsuit involved his promotion of the Astrals NFT project, alleging that the NFTs promoted by O’Neal were unregistered securities.In August 2024, a Miami federal court judge ruled that O’Neal would need to defend some of the claims brought against him in the case. Astrals is a Solana-based project featuring 10,000 NFTs, a metaverse called Astralworld and a decentralized autonomous organization (DAO) with a governance token called Galaxy.Magazine: Ethereum maxis should become ‘assholes’ to win TradFi tokenization race

on April 24, 2025 at 9:46 am

An 18-year-old man will face court charged with murder after the fatal stabbing of a Nightcliff grocery store owner on Wednesday.

by Sarah Forster on April 24, 2025 at 9:37 am

More than 1,000 people have gathered on Terrigal Beach to mourn Audrey Griffin, a young woman who is alleged to have been murdered by a Sydney man.

by Charmayne Allison on April 24, 2025 at 9:18 am

Starring in more than 80 shows and movies over more than 50 years, Gerard Kennedy was famed for his rugged looks and intense performances.

by Thomas Morgan on April 24, 2025 at 8:40 am

Ukrainians living overseas have little faith that the Russians will abide by a ceasefire agreement and say their country should continue to fight regardless of whether or not the US withdraws support.

by Luke Pentony on April 24, 2025 at 8:39 am

Imposing captain Max Gawn inspires Melbourne to a second consecutive victory, leading from the front in a 20-point defeat of Richmond in the Anzac Day eve match.

by Adam Harvey on April 24, 2025 at 8:17 am

Anzac Day has always been difficult for Luke McCallum. But this year, for the first time since having his legs partially amputated, he's ready to march again.

by Liana Boss on April 24, 2025 at 8:07 am

Three north-west NSW teen boys are facing a string of charges over an alleged break and enter and pursuit in a stolen vehicle involving a fatal hit-and-run.

by Aisling Brennan and Peter Sanders on April 24, 2025 at 8:05 am

A young man has been given an "opportunity" after a violent shopping centre robbery which caused the death of a 75-year-old man in Toowoomba. 

by Cointelegraph by Ezra Reguerra on April 24, 2025 at 8:05 am

Decentralized exchange (DEX) KiloEx said it will compensate traders and stakers hurt by a $7.5 million exploit that temporarily shut down the platform earlier in April.In an April 24 announcement, KiloEx said traders who had positions open while the platform was suspended would get full compensation if their losses increased or profits decreased. The platform said it would pay the difference. KiloEx urged traders to close their positions immediately once the platform resumes operations, as delaying could affect their profit and losses, which may then impact the compensation amount. “Please close your position as soon as possible after the platform resumes. Compensation will be calculated based on the platform’s resume time,” KiloEx stated. Source: KiloExStakers’ principal and earnings remain unaffectedFor the platform’s Hybrid Vault stakers, KiloEx said that the stolen funds were fully reinjected into the vault. As a result, staker earnings and principal will remain unaffected. However, KiloEx said it will still provide an additional 10% annual percentage yield (APY) as a bonus for eligible stakers.The bonus APY will be awarded to users who had funds in the vault prior to the platform’s resumption.On April 15, KiloEx offered a 10% bounty to the hacker who stole the funds from the platform. The DEX said that the hacker could keep $750,000 as a white hat bounty if they decided to return 90% of the stolen funds. The platform threatened to expose the hacker’s identity and take legal action if they did not comply. Shortly after, security platforms flagged transactions indicating that the KiloEx hacker returned the stolen funds. On April 18, the DEX said it would withdraw all legal action against the hacker and reward them with a 10% white hat bounty. Related: Mantra OM token crash exposes ‘critical’ liquidity issues in cryptoKiloEx hacker exploited a price oracle vulnerabilityOn April 14, KiloEx suspended its platform after containing the exploit that led to the $7.5 million in losses. Security firm PeckShield said the attacker likely exploited a price oracle vulnerability that allowed them to inflate the prices to gain more profit than they should have. In a post-mortem published by KiloEx, the platform confirmed that the attacker exploited a permissionless function. The DEX said the attacker crafted a request that only authorized entities should have been able to do. Using this, the attacker opened a position at an “artificially low price.” This was followed by closing the position at a higher price, providing illegitimate profit to the attacker. Magazine: Ethereum maxis should become ‘assholes’ to win TradFi tokenization race

by Rosanne Maloney, Mya Kordic, and Chloe Henville on April 24, 2025 at 7:55 am

A 29-year-old man is accused of offences against three women in Broome, while 30-year-old man is remanded in custody in Geraldton after allegedly raping a woman during a break-in armed with a knife.

by Michael Doyle on April 24, 2025 at 7:46 am

Brisbane Broncos captain Adam Reynolds has said he plans to play next week, despite coming from the field with a shoulder injury on Thursday night. 

by Cointelegraph by Amin Haqshanas on April 24, 2025 at 7:26 am

Fintech giant Revolut reported a record-breaking year, doubling its pre-tax profit to 1 billion British pounds ($1.3 billion) in 2024, driven by rapid customer growth and a resurgence in cryptocurrency trading.According to its annual report published on Thursday, April 24, Revolut’s profit soared from 438 million pounds in 2023, while revenue jumped to 3.1 billion pounds from 1.8 billion pounds.A key contributor to Revolut’s strong performance was its wealth division, which includes stock and digital asset trading. The segment generated 506 million pounds in revenue — nearly four times higher than in 2023 — as crypto trading activity rebounded.Revolut’s increasing profit. Source: RevolutRevolut added nearly 15 million new users in 2024, pushing its total customer base past 50 million. This expansion boosted revenue from card payment fees and interest on deposits, the fintech’s two largest income streams.Founder and CEO Nik Storonsky said in the report that “2024 was another landmark year for Revolut, with continued growth across all key business areas.”Related: Pyth partners with Revolut for real-time digital asset dataRevolut receives long-awaited UK banking licenseStoronsky noted that the company obtained a long-awaited UK banking license in 2024, which was secured in July after a three-year regulatory process.The license paved the way for Revolut to expand its lending services, including credit cards, buy-now-pay-later products and potentially mortgages, which the company confirmed are currently in testing.“We received a UK banking license (with restrictions), paving the way for future product enhancements in our home market,” Storonsky said.In May 2024, Revolut introduced Revolut X, a dedicated desktop crypto exchange targeting experienced traders. The platform offers trading for 100 tokens with low fees and real-time on/off-ramp capabilities, with plans to expand to mobile in 2025.In November, Revolut expanded its crypto exchange in Europe, rolling out Revolut X in 30 markets across the European Economic Area (EEA), including Belgium, Cyprus, Denmark and others.Revolut launches new products. Source: Revolut.Revolut continued to expand its digital asset services during the year, offering customers access to cryptocurrencies alongside other investment options like stocks, ETFs, bonds and commodities within its app ecosystem, per the annual report.Related: Revolut and Ledger wallet enable new crypto rails in EEARevolut struggles to attract banking customersDespite its growth, Revolut faces challenges in converting users of its popular app into primary banking customers.Growing deposit volumes remain critical for funding future lending operations and competing with established retail banks. In 2024, total customer balances rose to $39.8 billion from $23.9 billion.Revolut is also focusing on expanding its premium subscription base, with revenue from paid plans climbing 74% year-on-year to 423 million pounds, per the report.Additionally, its business services arm now accounts for 15% of total revenue, reflecting efforts to diversify income streams beyond retail banking.Looking ahead, Storonsky said Revolut intends to reach 100 million daily active users across 100 countries.Magazine: Ethereum maxis should become ‘assholes’ to win TradFi tokenization race

by Romy Gilbert on April 24, 2025 at 7:09 am

A mother and son convicted of murdering an Indigenous teen in Nowra have been told by victim's family of the grief caused by the "revenge attack".

by Cathy Adams on April 24, 2025 at 7:06 am

A display in a NSW post office commemorating the diggers is being celebrated for keeping the Anzac spirit alive.

by Cointelegraph by SK Arora on April 24, 2025 at 7:05 am

Quantitative easing (QE), explained Quantitative easing (QE) is a non-traditional monetary policy tool used by central banks, particularly when interest rates are already low and cannot be reduced further. It was popularized during the 2008 global financial crisis when traditional monetary tools, like lowering interest rates, were insufficient to stimulate economic growth. The main goal of QE is to boost the economy by increasing the money supply. This is achieved by encouraging banks to lend more and making borrowing cheaper for consumers and businesses. When central banks implement QE, they purchase government bonds or other securities from the market, injecting cash into the financial system. Even though people sometimes say QE is like “printing money,” it’s not the same as making new physical cash. Instead, it increases the amount of digital money — meaning the balances held in bank accounts — in the economy. This isn’t cryptocurrency; it’s regular money created by the central bank and used by banks to lend more, which helps boost spending and investment.QE can also raise the prices of assets like stocks and bonds because the extra money looking for returns drives demand higher. Governments also used QE during the COVID-19 pandemic to help keep the economy stable and support growth. How does quantitative easing work? To understand how QE functions behind the scenes, it’s important to look at the step-by-step mechanics that drive this policy. QE doesn’t work through a single action — it operates through a chain of events that begins with the central bank and eventually influences everyday economic activity. Here’s how the process typically unfolds:Asset purchases: Central banks buy government securities, such as treasury bonds, from banks and financial institutions.Increasing money supply: These purchases flood the financial system with liquidity.Lowering interest rates: With more cash on hand, banks lower interest rates, making loans cheaper.Boosting lending and spending: Cheaper loans mean more business investments and consumer spending, which are key drivers of economic growth. Quantitative easing in practice: Historical examples Quantitative easing isn’t just a theory — it’s been used by major central banks during times of economic trouble. Here are some real-world examples of how it worked:United States (2008–2014; 2020): The global financial crisisAfter the 2008 housing market crash, the US economy was in a deep recession. To help:The Federal Reserve launched three rounds of QE (QE1, QE2, QE3).It bought trillions of dollars in government bonds and mortgage-backed securities.This helped lower interest rates, supported lending, and boosted the stock market.When COVID-19 shut down economies worldwide, the US Fed acted quickly:It reintroduced QE, buying $120 billion per month in bonds at its peak.It aimed to keep borrowing costs low and support businesses and households.Japan (2001–2006, and again from 2013 onward): Fighting deflationJapan was dealing with low inflation and sluggish growth for years. The Bank of Japan (BoJ):Started using QE before most other countries.Bought large amounts of government bonds and later included stocks and real estate investment trusts.Eurozone (2015–2022): Post-debt crisis recoveryThe European Central Bank (ECB) introduced QE after a debt crisis hit Greece, Italy and Spain:The ECB bought government bonds from eurozone countries to bring down borrowing costs.This supported weaker economies and aimed to prevent deflation (falling prices). How quantitative easing impacts crypto markets Quantitative easing doesn’t just affect traditional financial markets — it also impacts the cryptocurrency market. When central banks inject more cash into the economy, some of that money flows into alternative assets like Bitcoin (BTC) and altcoins, driving up their prices. This surge in liquidity often boosts asset prices across the board, including cryptocurrencies, as more money becomes available for investments.Additionally, during QE, fiat currencies may lose value due to increased money supply, leading some investors to seek out cryptocurrencies as a hedge against inflation or currency devaluation. Bitcoin, in particular, is often seen as a store of value similar to gold. For example, in 2020, during the COVID-19 pandemic, the US Federal Reserve launched aggressive QE. At the same time:Bitcoin was trading under $5,000 in March 2020.By late 2021, it had soared past $60,000.Key factors behind Bitcoin’s growth during QE include rising inflation fears and low interest rates pushing investors toward alternative assets. Among these, a major driver could be the search for a store of value outside traditional finance. Thus, QE can indirectly contribute to crypto market booms by influencing investor sentiment and liquidity.The flip side: When QE ends, crypto may sufferWhen central banks end QE or start raising interest rates (tightening policy), liquidity is reduced, and borrowing becomes more expensive. This can lead to pullbacks in risk assets, including crypto.For example, in 2022, the Fed began quantitative tightening to combat inflation. Bitcoin dropped from around $47,000 in March to below $17,000 by December — a decline likely driven by investors shifting to safer assets and reduced risk appetite due to rising interest rates. Quantitative easing (QE) vs. quantitative tightening (QT): Key differences Quantitative easing (QE) and quantitative tightening (QT) are two opposing monetary policies used by central banks. QE involves expanding the money supply by purchasing assets such as government bonds, which injects cash into the economy to stimulate growth. Its main purpose is to lower interest rates and encourage lending when the economy is struggling.QT is the process of contracting the central bank’s balance sheet. It involves selling assets or letting them mature, reducing the money supply. The goal of QT is to cool down an overheating economy and prevent inflation from rising too quickly.The key difference between QE and QT lies in their impact on the central bank’s balance sheet: QE expands it, whereas QT contracts it. In terms of market effects, QE tends to drive asset prices up, whereas QT can lead to lower asset prices and higher interest rates. Both policies significantly influence inflation and market stability.Are the Fed tapering and quantitative easing the same?No, tapering and QE are not the same — but they are connected.Quantitative easing is when the Federal Reserve actively buys assets, such as government bonds, to inject money into the economy and lower interest rates.Tapering is when the Fed slows down those asset purchases — it’s the beginning of the end of QE, not a reversal. Is the Fed still tightening or easing in 2025? As of April 2025, the US Federal Reserve is navigating a complex economic landscape characterized by persistent inflationary pressures and slowing economic growth. In response, the Fed has maintained its benchmark interest rate within the 4.25%–4.50% range, signaling a cautious approach to monetary policy adjustments.​While the Fed has not fully transitioned to an easing stance, it has begun to moderate its QT efforts. Specifically, starting in April, the Fed reduced its monthly runoff of Treasury securities from $25 billion to $5 billion while continuing to allow $35 billion in mortgage-backed securities to mature without reinvestment.Looking ahead, the Federal Open Market Committee (FOMC) projects the possibility of two interest rate cuts later in 2025, contingent upon economic conditions. This projection reflects the Fed’s attempt to balance the dual mandates of controlling inflation and supporting employment amid uncertainties, including the impact of recent tariff policies. Pros and cons of quantitative easing Quantitative easing boosts growth and lowers borrowing costs, but overuse can fuel inflation, asset bubbles and long-term policy challenges.ProsQE helps boost economic activity by increasing the money supply and encouraging lending and investment.By purchasing government bonds, QE drives down interest rates, making borrowing cheaper for businesses and consumers.By injecting liquidity into the economy, QE helps boost demand and supports price stability, preventing deflation.ConsAn excessive increase in the money supply can devalue the currency and push inflation higher.Easy money can drive up asset prices, leading to overvalued stocks, bonds or real estate.QE adds to national debt, making it harder for central banks to manage inflation or interest rates in the future.In the end, quantitative easing remains a powerful but double-edged tool: capable of stabilizing economies in crisis yet carrying long-term risks that must be carefully managed to avoid repeating past imbalances.

on April 24, 2025 at 6:59 am

Sydney's Chad Warner signs a fresh two-year contract tying him to the Swans until the end of 2027, rejecting big offers from West Australian clubs.

by David Weber on April 24, 2025 at 6:36 am

A man who set fire to a home when children were inside while experiencing a meth-induced psychosis is sentenced to eight years in prison.

by Brett Worthington on April 24, 2025 at 6:28 am

A Nationals candidate got lucky, Peter Dutton doubled down on his statements and the prime minister was clearly sick of questions about his fall. 

by Elizabeth Byrne on April 24, 2025 at 6:21 am

Charges against a man accused of hitting two St Edmund's College students with an allegedly stolen car as they crossed the road to school last month are to be upgraded to culpable driving causing grievous bodily harm.

by Cointelegraph by Ciaran Lyons on April 24, 2025 at 6:20 am

BlackRock’s spot Bitcoin exchange-traded fund has been named the best new ETF product by etf.com, as it recorded its highest inflows since Jan. 21. On April 23, BlackRock’s iShare Bitcoin ETF (IBIT) was awarded the “Best New ETF” at the annual etf.com ETF awards. In an X post shortly after, Bloomberg ETF analyst Eric Balchunas said it “feels right to me.”IBIT clocks highest inflows in three months“I’m pretty sure this is how I voted. Both of them did things no one has seen [before],” Balchunas said, also referencing the Vanguard S&P 500 ETF (VOO) winning the “ETF of the Year” award. Over the past 5 years, VOO is up 89%, according to Google Finance data.IBIT was also the recipient of the Crypto ETP of the year. IBIT’s two awards came on the same day IBIT recorded $643.2 million in inflows, according to Farside data. It was the highest inflow day since Jan. 21, when it saw $661.9 million, just a day after US President Donald Trump’s inauguration, when Bitcoin’s spot price hit an all-time high of $109,000.Bitcoin is trading at $93,290 at the time of publication. Source: CoinMarketCapBitcoin commentator Vivek said this “is massive,” while Apollo Sats co-founder Thomas Fahrer said, “Huge inflow.”The IBIT fund, which launched in January 2024 alongside 10 other US-based spot Bitcoin ETFs, has net assets of approximately $53.77 billion, according to BlackRock data. Over the past 30 days, it has traded, on average, 45.02 million shares per day. At the time of publication, a single IBIT share is trading at $53.20, as per Google Finance data.The iShares Bitcoin Trust ETF is up 6.02% over the past month. Source: Google FinanceMeanwhile, VanEck Bitcoin ETF (HODL) received the award for “Best new ETF ticker.”Related: Bitcoiners should be cautious over rally as stablecoin indicator lags: AnalystIBIT’s large inflow on April 23 made up most of the $917 million seen across all 11 spot Bitcoin ETFs that day. It was the second day in a row with over $900 million in inflows amid most of the month posting outflow days due to macro uncertainty.On April 23, Glassnode pointed out that the $912 million ETF inflows the day prior equaled more than 500 times the 2025 daily average.Magazine: Former Love Island star’s tips on how to go viral in crypto: Van00sa, X Hall of FlameThis 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 Isabella Tolhurst on April 24, 2025 at 6:14 am

A Canadian-owned mining company has pleaded guilty to sacred site damage after accidentally tipping off the regulator about its unlawful drilling at a Northern Territory sacred site.

by Piper Duffy and Nadia Mitsopoulos on April 24, 2025 at 6:08 am

Three coastal councils have teamed up to help manage recreational four-wheel driving to protect the coastline from "blowing away into the ocean".

by Cointelegraph by Stephen Katte on April 24, 2025 at 6:00 am

US federal prosecutors have asked a district judge to sentence Avraham “Avi” Eisenberg, the crypto user convicted of the $110 million exploit of the decentralized exchange Mango Markets in 2022, to at least six and a half years behind bars.Ahead of Eisenberg’s May 1 sentencing hearing, US prosecutors are petitioning US District Judge Arun Subramanian for Eisenberg to face between 78 and 97 months in prison, according to an April 22 filing in a New York district court.Prosecutors argue it’s an appropriate sentence for Eisenberg’s April 2024 conviction for committing wire fraud, commodities fraud and commodities manipulation in connection with the Mango Markets exploit and separate charges that he possessed child pornography.“This sentence is necessary to, among other things, appropriately reflect the gravity of the defendant’s crimes, promote respect for the law, deter the defendant from future criminal activity, and protect the public,” the prosecutors said.“Fraud that takes over $100 million from investors and effectively shuts down a business is a shocking violation of criminal law, and it necessitates a sentence commensurate with the crime.”Mango Markets announced on Jan. 11 that it was winding down operations. It first launched in August 2021. A subsequent Jan. 18 post to X gave a date of Feb. 3 for the shutdown.Source: Mango MarketsDuring his April 2024 trial, Eisenberg’s legal team claimed he orchestrated a legal trading strategy that saw him profit $110 million from Mango Markets.He has returned roughly $67 million of the funds after the exploit, but retained more than $40 million following a community governance vote.Mango Markets hopes for restitutionIn an April 22 impact statement filed by lawyers acting for Mango Markets, the exchange asks that, in light of Eisenberg’s conviction, the court grant $47 million restitution to make everyone, “including Mango DAO, whole.”“Although Eisenberg’s attack cannot be undone, return of the funds he misappropriated is critical to righting his wrong,” Mango Markets said.Related: Mango Markets heist like a fake diamond ring scam: Prosecutor“No amount of money will fix the damage that Eisenberg has caused to Mango Markets’ reputation and the suffering his avarice caused, but returning the money, Eisenberg made off with will at least help.”Authorities arrested Eisenberg in December 2022. After his conviction, his sentencing has been postponed multiple times.Initially, it was scheduled for Dec. 12, 2024, but it was later delayed to Feb. 11, 2025, and April 10, 2025. Eisenberg’s legal team said the complexity of the sentencing issues caused the delays. Magazine: Ethereum maxis should become ‘assholes’ to win TradFi tokenization race

by Vanessa Jarrett and Bryn Wakefield on April 24, 2025 at 5:57 am

As gold prices increase around the world, opportunities for amateur fossickers to strike it rich are expanding in the state's centre.

by Cointelegraph by Jesse Coghlan on April 24, 2025 at 5:57 am

US federal prosecutors have filed statements from hundreds of victims in their case against Alex Mashinsky, the founder and former CEO of the defunct crypto lender Celsius Network.The recently sworn-in interim US Attorney for Manhattan, Jay Clayton, said in an April 23 letter to a Manhattan federal court that he was sharing “more than 200 victim impact statements” collected by his office.The statements span 418 pages of Celsius users, some named and some only using their initials, detailing the impact that the collapse of the firm had on their lives and how much money they had lost as a result. Some of the statements detailed victims who said they entrusted their life savings to Celsius, believing Mashinsky’s assurances that the platform was safe.Others wrote they were dismayed at the amount returned to them as a result of the company’s bankruptcy proceedings, which many said was less than the amount they put into the platform.An excerpt of a statement by Jesse Gaarenstroom detailing their losses and dissatisfaction with the repayments made to Celsius creditors. Source: CourtListenerBefore it collapsed, Celsius Network allowed users to deposit crypto to earn yield and offered loans with crypto posted as collateral. It blocked withdrawals in mid-2022 amid a massive crypto market crash and filed for bankruptcy in July that year.The Justice Department hit Mashinsky with seven charges a year later in July 2023, but he took a plea deal and copped to a count each of commodities and securities fraud in December, which carry a maximum sentence of 30 years in prison if served consecutively.Some seek leniency for MashinskyA large number of the statements reviewed by Cointelegraph called for Mashinsky to be imprisoned under the maximum allowable sentence, but at least two called for the court to go easy on the admitted fraudster.Related: US prosecutors to pursue ex-SafeMoon CEO case despite DOJ memoOne statement, written by a person identifying themselves as “Mike,” said further punishing Mashinsky would be “unreasonably excessive” as he claimed, without evidence, that the Celsius founder “was the target of a coordinated attack” by Sam Bankman-Fried, a convicted fraudster and former CEO of the collapsed crypto exchange FTX.Another statement written by Artur Abreu said that Mashinsky should be given leniency as he’s shown remorse, and macroeconomic factors at the time majorly contributed to Celsius’ collapse.Mashinsky, whose sentencing is set for May 8, argued in an April 17 sentencing brief that he should not be sentenced to more than a year and one day in prison, or 366 days, as he had “genuinely good intentions, and a previously spotless track record.”The government's sentencing brief is due on April 24.Magazine: Inner City Press says ‘less flashy’ Mashinsky set for less jail time than SBF: X Hall of Flame 

on April 24, 2025 at 5:52 am

The NT government has promised to urgently pass new bail laws to bring the territory in-line with Victoria and NSW in the wake of a fatal stabbing of a local Darwin grocer.

by Cointelegraph by Brayden Lindrea on April 24, 2025 at 4:59 am

The ZKsync Association has confirmed the recovery of $5 million worth of stolen tokens from an April 15 ZKsync security incident involving its airdrop distribution contract.The hacker agreed to accept a 10% bounty and return 90% of the remaining stolen tokens, transferring the ZKsync Security Council almost $5.7 million across three transfers on April 23.“We’re pleased to share that the hacker has cooperated and returned the funds within the safe harbor deadline,” ZKsync Association posted to X on April 23, which was later reposted by ZKsync’s X account.Matter Labs, the company behind the ZKsync protocol, also reposted the news shared on X.The ZKsync X account previously confirmed that no user funds were compromised.Source: ZKsync AssociationThe hacker sent two transfers on the ZKsync Era blockchain, consisting of $2.47 million worth of ZKsync (ZK) tokens and $1.83 million worth of Ether (ETH) to the ZKsync Security Council’s ZKsync Era address.Another 776 ETH worth nearly $1.4 million was also sent to their security council’s Ethereum address, Etherscan data shows.The first transfer was made on April 23 at 2:39:57 pm UTC on and the last transfer was made roughly 13 minutes later — all within the 72-hour window that ZK Sync had initially set.ZKsync Association said the company would publish a final report revealing more details from the security incident.How the hack happenedThe hacker breached ZKsync’s admin account, allowing them to exploit the airdrop distribution contract's sweepUnclaimed() function to mint 111 million unclaimed ZK tokens, worth approximately $5 million at the time of the April 15 attack.The hack occurred while ZKsync was in the process of airdropping 17.5% of ZK’s token supply to ecosystem participants.The recovered amount — almost $5.7 million — exceeded the $5 million originally stolen due to a rise in the market value of the stolen tokens, with ZK and ETH increasing 16.6% and 8.8% respectively since the April 15 attack, according to CoinGecko data.Despite the asset recovery, the ZK token failed to rise substantially on the news and is currently down 0.2% over the last 24 hours.ZKsync Era is an Ethereum layer 2 solution that uses zero-knowledge rollups to batch and process transactions offchain. It has nearly $59 million in total value locked on its chain and has over $2 billion in real-world assets onchain, according to DefiLlama and RWA.xyz.Magazine: Ethereum maxis should become ‘assholes’ to win TradFi tokenization race

by Cointelegraph by Stephen Katte on April 24, 2025 at 4:58 am

Russia’s finance ministry and central bank are reportedly planning to launch a crypto exchange for qualified investors under an experimental legal regime.The platform will be aimed at “super-qualified investors,” Finance Minister Anton Siluanov said during a ministry meeting, according to April 23 reports from Russian media group RBC and Russian news agency Interfax.“Together with the central bank, we will launch a crypto exchange for super-qualified investors. Crypto assets will be legalized, and crypto operations will be brought out of the shadows,” he said in a statement translated from Russian.“Naturally, this will not happen domestically, but as part of the operations permitted under the experimental legal regime.”Anton Siluanov (left) said the Kremlin-backed crypto exchange is only for Russian investors who meet certain income and wealth thresholds. Source: Mehmet SimsekThe Russian central bank announced a proposal on March 12 to allow a limited number of Russian investors with a certain amount of assets to buy and sell cryptocurrencies like Bitcoin (BTC) under a three-year experimental regime.Under the proposal, the bank created a new investor category, super-qualified investors, defined by wealth and income thresholds of over 100 million rubles ($1.2 million) or a yearly income of at least 50 million rubles ($602,000).Super-qualified investor definition not set in stone The deputy director of the Finance Ministry’s financial policy department, Osman Kabaloev, said the criteria for a super-qualified investor are not yet final because they were floated in the early stages of discussions last year, according to RBC.“Perhaps it will be in this format, or these indicators will be somehow adjusted in one direction or another - this is possible, I think there will be a wide range of discussions,” Kabaloev said in a statement translated from Russian.Russia implemented a ban on using cryptocurrencies like Bitcoin for payments under its first crypto law, which came into force in January 2021.However, the country has since been trying to make other crypto inroads. On April 16, Kabaloev said the Kremlin should be creating its own stablecoin after a recent freeze on wallets linked to the sanctioned Russian exchange Garantex by US authorities and stablecoin issuer Tether. Related: Russia using Bitcoin, USDt for oil trades with China and India: ReportMeanwhile, Evgeny Masharov, a member of the Russian Civic Chamber, proposed on March 20 to create a Russian government crypto fund that would include assets confiscated from criminal proceedings.At the same time, other officials were progressing with new legislation on recognizing crypto as property for the purposes of criminal procedure legislation.Magazine: How crypto laws are changing across the world in 2025