Alternative News for You

by Kenji Sato on April 17, 2025 at 12:19 am

One of Queensland's most expensive neighbourhoods has blocked an "inappropriate" affordable housing project intended to ease a shortage of homes.

by Dannielle Maguire on April 17, 2025 at 12:09 am

The federal election is less than a month away. But if you can't make it to the voting booths on election day, there are other ways to have your say. 

by Isla Evans on April 16, 2025 at 11:55 pm

Kristian White was handed a two-year community correction order, which included 425 hours of community service, for fatally tasering 95-year-old Clare Nowland.

by Peter de Kruijff on April 16, 2025 at 11:53 pm

New footage filmed 600 metres below the surface of the Southern Atlantic Ocean shows rare juvenile from world's heaviest squid species.

by James Taylor on April 16, 2025 at 11:51 pm

With a cure for Parkinson's disease remaining elusive, the sport of ping pong is providing relief for people living with pain and fatigue from the condition.

by Jacqueline Lynch on April 16, 2025 at 11:45 pm

Regional representation in WA's Upper House has been reduced by more than a third, prompting calls for some of the state's metropolitan politicians to set up offices in the country.

by Samantha Goerling on April 16, 2025 at 11:05 pm

As people hit the road across Australia for the Easter holidays, Albany's Allan Faulkner hopes his tracking of the state's road toll will help save lives on WA's roads.

by Cointelegraph by Christopher Tepedino on April 16, 2025 at 10:45 pm

Stablecoins rose to popularity as a result of limitations in the US financial system — particularly restricted banking hours and the lack of a non-USD trading pair, according to Jerald David, president of Arca Labs. “So we start thinking about the reason why, we start talking about the nine-to-five banking hours,” David said during a panel at TokenizeThis 2025 event on April 16.The panel discussion centered on yieldcoins or, essentially, the rising of cryptocurrencies that can generate yield through holding, staking or lending, like stablecoins. “Well, nine-to-five banking hours don’t work, right? There are implementations right now of payment systems that are going to come to market very soon, that are a good combination of both yield-bearing instruments as well as stabletokens,” David said. According to David, the need for stablecoins stems from the fact that the traditional US banking infrastructure doesn’t support round-the-clock transactions. “And this industry, as we all know, is a 24-hour industry.”KYC for stablecoins Know Your Customer procedures were a significant topic at the panel. One representative from Figure Markets said that everyone who owns a yield-bearing stablecoin would have to be KYC-ed for tax reasons.But David pointed out that stablecoins have several use cases beyond yield generation, including payments. “Using this stable token to buy a cup of coffee is not something that really should require AML or KYC for somebody.”Nick Carmi, head of exchange at Figure Markets, suggested that part of the solution could be a trust-based KYC system that allows users to carry their credentials across platforms. KYC is a process used by financial institutions to verify a user's identity. It's meant to prevent fraud, money laundering, and other illegal activities by ensuring users are who they claim to be.Currently, users must complete separate KYC checks for each financial institution or service they use, creating friction and frustration — especially for those navigating multiple platforms or exploring different crypto ecosystems.Magazine: Bitcoin payments are being undermined by centralized stablecoins

on April 16, 2025 at 10:36 pm

The office of the New York City medical examiner says it amended the cause and manner of the 39-year-old's death following a review of laboratory test results.

on April 16, 2025 at 10:26 pm

The two companies said they will be increasing prices starting April 25 and encouraged shoppers to purchase "now at today's rates".

by Cointelegraph by Vince Quill on April 16, 2025 at 10:20 pm

Panama’s capital city will accept cryptocurrency payments for taxes and municipal fees, including bus tickets and permits, Panama City mayor Mayer Mizrachi announced on April 15, joining a growing list of jurisdictions globally that have voted to accept such payments.Panama City will begin accepting Bitcoin (BTC), Ether (ETH), Circle's USDC (USDC), and Tether's USDt (USDT) stablecoin for payment once the crypto-to-fiat payment rails are established, Mizrachi posted on the X platform. Mizrachi said previous administrations attempted to push through similar legislation but failed to overcome stipulations requiring the local government to accept funds denominated in US dollars.In a translated statement, the Panama City mayor said that the local government partnered with a bank that will immediately convert any digital assets received into US dollars, allowing the municipality to accept crypto without introducing new legislation.Panama City joins a growing list of global jurisdictions on the municipal and state level accepting cryptocurrency payments for taxes, exploring Bitcoin strategic reserves to protect public treasuries from inflation and passing pro-crypto policies to attract investment.Source: Mayer MizrachiRelated: New York bill proposes legalizing Bitcoin, crypto for state paymentsMunicipalities and states embrace digital assetsSeveral municipalities and territories around the globe already accept crypto for tax payments or are exploring various implementations of blockchain technology for government spending.The US state of Colorado started accepting crypto payments for taxes in September 2022. Much like Panama City said it will do, Colorado immediately converts the crypto to fiat.In December 2023, the city of Lugano, Switzerland, announced taxes and city fees could be paid in Bitcoin, which was one of the developments that earned it the reputation of being a globally recognized Bitcoin city.The city council of Vancouver, Canada, passed a motion to become "Bitcoin-friendly city" in December 2024. As part of that motion, the Vancouver local government will explore integrating BTC into the financial system, including tax payments.North Carolina lawmaker Neal Jackson introduced legislation titled "The North Carolina Digital Asset Freedom Act" on April 10. If passed, the bill will recognize cryptocurrencies as an official form of payment that can be used to pay taxes.Magazine: Crypto City: The ultimate guide to Miami

on April 16, 2025 at 10:16 pm

Arsenal have swept past Real Madrid with a 5-1 on aggregate to progress to the Champions League semifinals for the first time since 2009. 

on April 16, 2025 at 10:09 pm

Clutch bowling from Australian star Mitchell Starc helps the Delhi Capitals to a super over victory against the Rajasthan Royals.

by Cointelegraph by Cointelegraph on April 16, 2025 at 10:08 pm

Today in crypto, an appellate court has paused the SEC’s 2020 case against Ripple as settlement talks progress. Meanwhile, a new report from Coinbase paints a bleak picture of the current crypto market but anticipates a rebound in late 2025. In addition, Strive Asset Management is pushing Inuit to buy Bitcoin after persuading GameStop to do the same.Court grants 60-day pause of SEC, Ripple appeals caseAn appellate court has granted a joint request from Ripple Labs and the Securities and Exchange Commission (SEC) to pause an appeal in a 2020 SEC case against Ripple amid settlement negotiations.In an April 16 filing in the US Court of Appeals for the Second Circuit, the court approved a joint SEC-Ripple motion to hold the appeal in abeyance — temporarily pausing the case — for 60 days. As part of the order, the SEC is expected to file a status report by June 15.The SEC’s case against Ripple and its executives, filed in December 2020, was expected to begin winding down after Ripple CEO Brad Garlinghouse announced on March 19 that the commission would be dropping its appeal against the blockchain firm. A federal court found Ripple liable for $125 million in an August ruling, resulting in both the SEC and blockchain firm filing an appeal and cross-appeal, respectively.However, once US President Donald Trump took office and leadership of the SEC moved from former chair Gary Gensler to acting chair Mark Uyeda, the commission began dropping multiple enforcement cases against crypto firms in a seeming political shift. Ripple pledged $5 million in XRP to Trump’s inauguration fund, and Garlinghouse and chief legal officer Stuart Alderoty attended events supporting the US president.April 16 order approving a motion to hold an appeal in abeyance. Source: PACERCrypto in a bear market, rebound likely in Q3 — CoinbaseA monthly market review by publicly traded US-based crypto exchange Coinbase shows that while the crypto market has contracted, it appears to be gearing up for a better quarter.According to Coinbase’s April 15 monthly outlook for institutional investors, the altcoin market cap shrank by 41% from its December 2024 highs of $1.6 trillion to $950 billion by mid-April. BTC Tools data shows that this metric touched a low of $906.9 billion on April 9 and stood at $976.9 billion at the time of writing.Venture capital funding to crypto projects has reportedly decreased by 50%–60% from 2021–22. In the report, Coinbase’s global head of research, David Duong, highlighted that a new crypto winter may be upon us.“Several converging signals may be pointing to the start of a new ‘crypto winter’ as some extreme negative sentiment has set in due to the onset of global tariffs and the potential for further escalations,” he said.Duong cited some metrics to indicate when the crypto market is moving between bull and bear market phases, including risk-adjusted performance and the 200-day moving average.Another metric was the Bitcoin (BTC) Z-score, which compares market value and realized value to identify overbought and oversold conditions. A Z-score shows how unusual current price performance is when compared to historic data.This metric “naturally accounts for crypto’s larger volatility,” but it is also slow to react. This metric tends to generate few signals in stable markets. Coinbase’s model, based on it, determined that the bull market ended in late February but has since deemed the market neutral.Strive urges Intuit to buy Bitcoin after converting GameStopStrive Asset Management CEO Matt Cole has urged fintech firm Intuit to add Bitcoin (BTC) to its balance sheet in an April 14 open letter after successfully convincing game retailer GameStop to buy the cryptocurrency for its books.Cole told Intuit CEO Sasan Goodarz in the letter that Bitcoin is the best way to ensure the company’s long-term success and hedge against any potential disruption caused by artificial intelligence.He said the firm needs an additional hedge as its flagship tax preparation app, TurboTax, is at risk of being automated away by AI. Intuit is also known for its small business accounting software, Quickbooks.“We believe an additional hedge is warranted,” Cole wrote, pitching a Bitcoin “war chest” as “the best option available” as it would ensure Intuit has “enough strategic capital to weather the AI storm and act from a position of strength through the turbulence of the AI revolution.”Cole sent a similar letter to GameStop CEO Ryan Cohen in February to advise it to use its $4.6 billion in cash to buy Bitcoin. GameStop said in early April that it raised $1.5 billion, some of which would be used for Bitcoin.

on April 16, 2025 at 10:05 pm

To help curb the road toll, some states double demerit points during busy holiday periods. These rules vary so here's a state-by-state guide of what to expect. 

by Keane Bourke on April 16, 2025 at 9:58 pm

Mobile phone black spots contribute to the WA government's inability to roll out a key domestic violence policy in the state's regions, the ABC understands. 

on April 16, 2025 at 9:48 pm

Court documents posted to social media show Ms Hamer received payments in 2020 and 2021 from a trust. 

by Cointelegraph by Marcel Pechman on April 16, 2025 at 9:30 pm

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

by Julia André on April 16, 2025 at 9:28 pm

Outback Queensland tourism providers are desperate for visitors to return to the region, after record-breaking floods impacted some — but not all — communities.

on April 16, 2025 at 9:27 pm

Matildas attacker Mary Fowler faces up to a year on the sidelines after scans confirmed she had ruptured her ACL.

by Sandy Powell on April 16, 2025 at 9:27 pm

Claims by two men acquitted of murder that they knew nothing about a violent and deadly assault on a man they were robbing in rural Tasmania three years ago were "obvious lies", a judge says.

by Emilia Terzon on April 16, 2025 at 9:24 pm

Australian investors are betting on a rate cut in May of up to half a per cent. Meanwhile, Wall Street is down again, as tariff fears continue. Follow the day's events and insights as they happen with our business reporters on the ABC News live markets blog. 

by David Claughton and Michael Condon on April 16, 2025 at 9:19 pm

The inaugural winner of the Sydney Royal Easter Show President's Medal has taken it home again nearly two decades later.

by Briana Shepherd on April 16, 2025 at 9:16 pm

Renters in Perth are feeling the pinch as it becomes the nation's second-most expensive capital to rent in, and an economic expert says the state desperately needs to increase its building capacity. 

by Cointelegraph by Turner Wright on April 16, 2025 at 9:10 pm

The US Securities and Exchange Commission (SEC) announced industry insiders from Kraken, Exodus, Anchorage Digital, and others would be participating in its crypto task force’s roundtable discussion on custody.In an April 16 notice, the SEC said commissioners Hester Peirce and Caroline Crenshaw, acting chair Mark Uyeda and crypto task force Chief of Staff Richard Gabbert will sit down with Mark Greenberg, crypto exchange Kraken’s vice president of consumer business and product, Anchorage Digital Bank’s Chief Risk Officer Rachel Anderika and Exodus Chief Legal Officer Veronica McGregor. Other representatives will include those from WisdomTree, Fidelity Digital Asset Services, and Fireblocks.“It is important for the SEC to grapple with custody issues, which are some of the most challenging as we seek to integrate crypto assets into our regulatory structure,” said Peirce, who heads the SEC task force.Notably, Uyeda was listed as acting chair of the commission at the April 25 event, despite the US Senate confirming that Paul Atkins would head the regulatory body on April 9. It’s unclear when Atkins will be sworn in as SEC chair, but at the time of publication, the regulator had not listed him as a current commissioner.Related: US gov’t actions give clue about upcoming crypto regulationAmong the topics listed on the roundtable’s agenda are discussions on broker-dealers and custody at investment firms. Demand for digital asset custody in the US has grown in the last few years, especially following the approval of crypto exchange-traded funds in January 2024. The trend has also drawn in traditional financial institutions, including long-standing firms such as BNY Mellon.Since the inauguration of US President Donald Trump in January and the departure of former SEC Chair Gary Gensler, the agency has seemingly moved in a direction more favorable to the crypto industry by abandoning certain enforcement actions and dismissing efforts in court to expand or maintain its authority over digital assets.The first of the crypto task force’s roundtable events on March 21 dealt with the status of many tokens as securities. Another on April 11 included discussions on “tailoring regulation for crypto trading.”Is DOGE infiltrating the SEC?The roundtable discussions come as reports suggested the “government efficiency” team launched by Tesla CEO and presidential adviser Elon Musk had been given access to the SEC’s systems and data. Acting chair Uyeda has reportedly pushed back on requests by the Department of Government Efficiency, or DOGE – which is not an official US government department — to access SEC data.DOGE faces criticism and some lawsuits over attempts to fire staff at US government agencies. It’s unclear whether Musk intends to “streamline” the SEC in the same way the group went after the US Agency for International Development and the Consumer Financial Protection Bureau.Magazine: XRP win leaves Ripple and industry with no crypto legal precedent set

by Brigitte Murphy and Lara Webster on April 16, 2025 at 9:08 pm

As farmers in parts of western New South Wales prepare to be isolated by floods, other properties are brimming with life after heavy rain.

by Nick Campton on April 16, 2025 at 9:06 pm

It's hard enough for any Englishman to make it in the NRL but South Sydney's new import Lewis Dodd will be forced to contend with a totally unprecedented first grade debut on Good Friday. 

by Mackenzie Colahan and Ciara Jones on April 16, 2025 at 9:05 pm

A missing Gold Coast toddler has been found safe after police issued an amber alert. 

by Kate O'Halloran on April 16, 2025 at 9:02 pm

A physical trainer in the Army, Claire ran marathons for fun, until menopause 'stopped her dead'. Menopause Hormonal Therapy proved a game changer for her motivation and physical stamina.

by Jack Hislop and Matt Garrick on April 16, 2025 at 9:00 pm

Crossbench politicians in the Northern Territory are calling for a ban on gifts from corporate bookmakers to members of the NT’s gambling regulator, after revelations its chair declared he had accepted hospitality from gambling companies.

by Cointelegraph by Marie Poteriaieva on April 16, 2025 at 8:34 pm

Bitcoin (BTC) remains under pressure as macroeconomic uncertainty continues to weigh on its price action. After making a strong bounce from the local bottom near $75,000 on April 7 and 9, analysts are beginning to question whether BTC could be gearing up for a reversal of the downward trend that’s persisted since the start of the year.BTC/USD 1-day, RSI 1-week. Source: Marie Poteriaieva, TradingViewFor some, like the veteran trader Peter Brandt, this trendline is nothing but hopium. As he noted in his X post,“Of all chart construction, trendlines are the LEAST significant. A trendline violation does NOT signify a transition of the BTC trend. Sorry.”Others, however, see more reason for cautious optimism. Analyst Kevin Svenson highlighted a possible weekly RSI breakout, pointing out that “Once confirmed, weekly RSI breakout signals have proven to be among the most reliable macro breakout indicators.” Ultimately, price is driven by supply and demand—and while both sides of the equation are beginning to show subtle signs of recovery, they are yet to reach the levels needed for a proper breakout. Furthermore, the bulls must cut through a dense sell wall near $86,000 to confirm the reversal. Bitcoin demand — Are there early signs of recovery?According to CryptoQuant, Bitcoin’s apparent demand — measured by the 30-day net difference between exchange inflows and outflows — is showing early signs of recovery after a sustained dip into negative territory.However, the analysts caution against prematurely declaring a trend reversal. Looking back to the 2021 cycle peak, similar conditions occurred: demand remained low or negative for months, prices temporarily stabilized or rebounded, and true structural recovery only followed extended consolidation. This current uptick in demand may simply mark a pause in selling pressure—not a definitive bottom sign. Time and confirmation are still needed to confirm a shifting momentum.Bitcoin: apparent demand. Source: CryptoQuantFrom a trader’s perspective, the apparent demand metric does not look optimistic just yet. Bitcoin daily trade volumes currently hover around 30,000 BTC (spot) and 400,000 BTC (derivatives), according to CryptoQuant. This is, respectively, 6x and 3x less compared to the June-July 2021 period that preceded the last bull run of the 2019-2022 cycle. Despite hopeful comparisons of the current price dip to that period, current volume dynamics suggest a more subdued trader appetite.Bitcoin trading volume. Source: CryptoQuantInstitutional investors confirm the low demand trend. Since April 3, the spot BTC ETFs have recorded continuous outflows totaling over $870 million, with the first modest inflow not occurring until April 15. Despite this, trading volumes remain relatively high — only 18% below the 30-day average — indicating that some investor appetite for Bitcoin persists.Related: Crypto in a bear market, rebound likely in Q3 — CoinbaseBitcoin supply — Will liquidity return?On the supply side, liquidity remains weak. According to Glassnode’s recent report, the realized cap growth has slowed to 0.80% per month (from 0.83% previously). This points to a continued lack of meaningful new capital entering the Bitcoin network and, as Glassnode notes, “remains well below typical bull market thresholds.”Furthermore, the BTC balance on exchanges — often used to gauge available sell-side liquidity — has dropped to just 2.6 million BTC, the lowest level since November 2018.Yet, on a broader macroeconomic level, some analysts see reasons for cautious hope. Independent market analyst Michael van de Poppe pointed out the quickly rising M2 Supply, which, with a certain lag (here 12 weeks), has often influenced Bitcoin price in the past.“If the correlation remains, he wrote, then I assume that we'll see Bitcoin rally to an ATH in this quarter. This would also imply a rise in CNH/USD, a fall in Yields, a fall in Gold, a fall in DXY, and a rise in Altcoins.”Global M2 - 12-week lead. Source: Global Macro InvestorEven if bullish momentum and demand returns, Bitcoin will need to clear a critical resistance zone between $86,300 and $86,500, as shown on CoinGlass’ liquidity heatmap, which maps dense clusters of buy and sell orders at different levels.Alphractal adds another layer of insight through its Alpha Price Chart, which incorporates realized cap, average cap, and onchain sentiment — and comes to the same conclusion. According to the chart, BTC must decisively break above $86,300 to restore short-term bullish sentiment. If the price weakens again, support levels lie at $73,900 and $64,700.Bitcoin: Alpha price. Source: AlphractalOverall, calling a trend reversal at this stage may be premature. Liquidity remains thin, macroeconomic headwinds persist, and investors remain cautious. Still, Bitcoin’s resilience above $80,000 signals strong support from long-term holders. A decisive breakout above $86,300 could shift market sentiment—and, in a best-case scenario, ignite a new rally. For such a move to be meaningful, however, it must be backed by spot market volume, not just leverage-driven activity.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 Vince Quill on April 16, 2025 at 8:34 pm

Publicly listed Bitcoin miners sold over 40% of the collective coins mined in March, representing the largest monthly BTC liquidation for mining firms since October 2024 and reversing the post-halving trend of accumulating Bitcoin (BTC) for a corporate treasury strategy, according to TheMinerMag, which screened data from 15 publicly traded mining companies.The increased liquidations come amid widespread macroeconomic uncertainty in financial markets and the business sector, likely signaling that companies are selling their BTC to reduce shortfalls caused by the current economic climate.Mining firms offloading BTC to cover operational expenses contributes to selling pressure on the cryptocurrency, which can result in a price volatility. According to CoinGlass, Bitcoin posted a 2.3% loss in March, following a 17.39% correction the previous month. Related: CleanSpark to start selling Bitcoin in 'self-funding' pivotMiners struggle amid macroeconomic turmoil High costs, operational hurdles, and fierce competitiveness within the Bitcoin mining industry are amplified by the effects of a trade war on businesses, financial markets, and global supply chains.Kristian Csepcsar, chief marketing officer at BTC mining service provider Braiins, recently told Cointelegraph that producing all of the hardware components used for mining BTC in the United States is not possible.US President Donald Trump's tariff policies will impact all aspects of the supply chain, making components and business-to-business services more expensive, eroding miner profitability, Csepcsar said.Trump's threats of taxing energy imports also added to the uncertainty facing some US-based mining firms, as energy costs are a critical input in determining profit margins for miners.Hashlabs CEO Jaran Mellerud predicted that higher costs from trade tensions may benefit mining firms outside the US as hardware manufacturers and resellers offload equipment originally meant for US customers to other jurisdictions at lower prices."Importing machines to the US will now cost at least 24% more compared to tariff-free countries like Finland," Mellerud wrote in an April 8 X post.The executive concluded that mining Bitcoin in the US will become economically unfeasible if 24% tariffs are levied on mining components. Mellerud also predicted US firms would gradually lose market share as a result of the tariffs.Magazine: AI may already use more power than Bitcoin — and it threatens Bitcoin mining

by Cointelegraph by Sam Bourgi on April 16, 2025 at 7:31 pm

As digital assets gain mainstream adoption, establishing a legal framework for stablecoins is a “good idea,” said US Federal Reserve Chair Jerome Powell.In an April 16 panel at the Economic Club of Chicago, Powell commented on the evolution of the cryptocurrency industry, which has delivered a consumer use case that “could have wide appeal” following a difficult “wave of failures and frauds,” he said.Powell delivers remarks at the Economic Club of Chicago. Source: Bloomberg TelevisionDuring crypto’s difficult years, which culminated in 2022 and 2023 with several high-profile business failures, the Fed “worked with Congress to try to get a [...] legal framework for stablecoins, which would have been a nice place to start,” said Powell. “We were not successful.”“I think that the climate is changing and you’re moving into more mainstreaming of that whole sector, so Congress is again looking [...] at a legal framework for stablecoins,” he said. “Depending on what’s in it, that’s a good idea. We need that. There isn’t one now,” said Powell.This isn’t the first time Powell acknowledged the need for stablecoin legislation. In June 2023, the Fed boss told the House Financial Services Committee that stablecoins were “a form of money” that requires “robust” federal oversight.Related: Stablecoins are the best way to ensure US dollar dominance — Web3 CEOSupport for stablecoin legislation is growingThe election of US President Donald Trump has ushered in a new era of pro-crypto appointments and policy shifts that could make America a digital asset superpower. Washington’s formal embrace of cryptocurrency began earlier this year when Trump established the President’s Council of Advisers on Digital Assets, with Bo Hines as the executive director. Hines told a digital asset summit in New York last month that a comprehensive stablecoin bill was a top priority for the current administration. After the Senate Banking Committee passed the GENIUS Act, a final stablecoin bill could arrive at the president’s desk “in the next two months,” said Hines.Bo Hines (right) speaks of “imminent” stablecoin legislation at the Digital Asset Summit on March 18. Source: CointelegraphStablecoins pegged to the US dollar are by far the most popular tokens used for remittances and cryptocurrency trading. The combined value of all stablecoins is currently $227 billion, according to RWA.xyz. The dollar-pegged USDC (USDC) and USDt (USDT) account for more than 88% of the total market. Magazine: Unstablecoins: Depegging, bank runs and other risks loom

by Cointelegraph by Turner Wright on April 16, 2025 at 7:04 pm

Former FTX CEO Sam “SBF” Bankman-Fried has moved from a transit facility to a California prison that once housed infamous gangster Al Capone.According to the Federal Bureau of Prisons website, officials moved Bankman-Fried from the Federal Transfer Center in Oklahoma City briefly to the Federal Correctional Institution in Victorville before transferring him to a facility in Terminal Island in Los Angeles, California. The federal institution was once home to criminals like former Theranos chief operating officer Ramesh Balwani and Capone, who was convicted of tax evasion in 1931.During his 2023 trial and following his conviction on seven felony counts in 2024, Bankman-Fried was housed at the Metropolitan Detention Center in New York. However, officials moved the former FTX CEO after he was the subject of an interview by right-wing political commentator Tucker Carlson — an activity reportedly unsanctioned by authorities.Related: Sam Bankman-Fried posts for the first time in 2 years, FTX Token pumpsIt’s unclear whether Bankman-Fried will remain at the California facility until his tentative release date in 2044. A New York judge initially allowed SBF to remain in the state to assist during the appeal of his conviction and sentence — a process that could be hampered by the former FTX CEO’s current location.Moving to the right for a pardon?Since the inauguration of US President Donald Trump, reports have suggested that Bankman-Fried may be attempting to reach out to right-wing advocates in an attempt to secure a presidential pardon. Silk Road founder Ross Ulbricht received a pardon from Trump during his first few days in office — reportedly in a push to win over libertarians in the election — and is scheduled to appear at the Bitcoin 2025 conference in Las Vegas.Other former FTX executives, including Caroline Ellison and Ryan Salame, remain incarcerated in different facilities and largely out of the news since reporting to prison. FTX co-founder Gary Wang and former engineering director Nishad Singh were the only two individuals named in the initial indictment who received time served rather than prison.Magazine: XRP win leaves Ripple and industry with no crypto legal precedent set

by Cointelegraph by Biraajmaan Tamuly on April 16, 2025 at 7:04 pm

US-based crypto trading platforms regaining influence over Bitcoin’s (BTC) token transfer volumes could possibly kick-start a rally in the second half of 2025. Bitcoin researcher Axel Adler Jr pointed out that the "US vs. off-shore ratio," which measures token transfer volumes between US-regulated and offshore exchanges, indicated a drop in dominance from US exchanges after BTC reached an all-time high in January. Bitcoin total transferred ratio chart (US vs off-shore). Source: X.comAs illustrated in the chart, a trend reversal is underway, which implies BTC transfer volumes on US exchanges are beginning to rise again, aligning with previous bull market rallies. A key technical indicator in the chart is the 90-day simple moving average (SMA) crossing above the 365-day SMA. Historically, this crossover has preceded major price rallies. For example, when this signal occurred at $60,000, Bitcoin began a rally within one week. This suggests a potential price surge may occur in the coming weeks.Likewise, verified onchain analyst Boris Vest said Bitcoin is still undervalued. In a quick take post on CryptoQuant, the analyst explained that Bitcoin exchange reserves have fallen to 2018 levels, with only 2.43 million BTC held on exchanges compared to 3.4 million in 2021, indicating long-term holding and reduced supply.The Bitcoin stablecoin supply ratio (SSR) at 14.3 highlighted that significant purchasing power remains, as the ratio is below 2021 levels. Boris said, “Since it hasn't yet reached 2021 levels, we can say that Bitcoin still appears to be undervalued. This suggests the bull market and buying pressure are likely to continue.”Related: Why is Bitcoin price down today?Bitcoin flips key monthly indicator, opening a path to $90KMarkets analyst Dom highlighted that Bitcoin’s recent multimonth downtrend breakout coincides with BTC flipping the monthly VWAP into support for the first time since January. Bitcoin analysis by Dom. Source: X.comThe Volume-Weighted Average Price (VWAP) is a technical indicator that calculates the average price weighted by trading volume. Traders use VWAP to assess trend shifts, identify support or resistance, and gauge whether an asset is overbought or oversold. Dom said, “Bulls have successfully held both of these levels for 4 days now, something we haven't seen in months. A move above yesterday's high and I think BTC runs near 90k.”However, Alphractal founder João Wedson remained cautious with Bitcoin near $86,000. He explained that waiting for a pullback if Bitcoin breaks above this level is the right approach, or bearish control might prevail. This echoes Alphractal's analysis of $86,300 as a key resistance zone with the potential of becoming a bull trap.Related: Bitcoin bulls ‘coming back’ as key metric on Binance flips to neutralThis 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 Sundance on April 16, 2025 at 7:01 pm

It’s not the first part of the 46-page ruling [SEE HERE] by Judge James Boasberg, threatening to hold President Trump and Main Justice in criminal contempt of court, that presents the biggest problem; it’s the second part where Boasberg is threatening to appoint an independent Judicial Branch prosecutor against the DOJ and Trump that makes The post Judge Boasberg Threatens “Criminal Contempt” Charges Against Trump DOJ, Threatens to Appoint Independent Judicial Branch Criminal Prosecutor Against Trump Administration appeared first on The Last Refuge.

by Cointelegraph by Christopher Tepedino on April 16, 2025 at 6:26 pm

Auradine, a Silicon Valley-based startup that specializes in equipment for AI data centers and Bitcoin mining, has announced a raise of $153 million in a Series C funding round. The new capital will go to increasing the company’s product suite of infrastructure for AI and blockchain technology.The Series C round was led by StepStone Group and included participation from Maverick Silicon, Premji Invest, Samsung Catalyst Fund, Qualcomm Ventures, and others. Auradine said the round was oversubscribed but did not disclose by how much or at what valuation the funds were raised.Along with the funding round, Auradine announced the launch of AuraLinks AI — its new business group dedicated to networking solutions targeting data centers’ energy and cooling costs.According to Goldman Sachs, energy demand due to AI data centers is expected to rise 165% by 2030. Building a small-scale AI data center can cost $10 million to $50 million, while large-scale AI data centers can cost hundreds of millions.Auradine designs and manufactures application-specific integrated circuits (ASICs) and related systems for Bitcoin mining. The company sees a strategic opportunity in the current US-China trade tensions and US President Trump’s push to boost domestic manufacturing. Among its main competitors is the Chinese-based firm Bitmain, which reportedly holds a 90% market share in the Bitcoin manufacturing sector. Related: How to mine Bitcoin: A beginner’s guide to mining BTCCrypto mining market to grow at CAGR 13% until 2034According to Precedence Research, the cryptocurrency mining market was valued at $2.5 billion in 2024 and is expected to have a compound annual growth rate of 13% until 2034. If that prediction is accurate, the mining market will reach a size of $8.2 billion by 2034.The rising Bitcoin hashrate, coupled with the increasing energy demands following each halving, is intensifying competition in the mining sector. As a result, the push for greater efficiency and advanced technology may create openings for new players to gain market share.Trump’s dual desires to make the US “the crypto capital of the planet” and bring manufacturing on-shore may also play a role. The US accounts for over 40% of the Bitcoin (BTC) hashrate, but US-based miners still rely heavily on China-manufactured rigs.Auradine’s $80 million Series B round, like its Series C, was oversubscribed. In total, the company has raised over $300 million across all funding rounds.Magazine: Asia Express: Bitcoin miners steamrolled after electricity thefts, exchange ‘closure’ scam

by Cointelegraph by Turner Wright on April 16, 2025 at 5:56 pm

An appellate court has granted a joint request from Ripple Labs and the Securities and Exchange Commission (SEC) to pause an appeal in a 2020 SEC case against Ripple amid settlement negotiations.In an April 16 filing in the US Court of Appeals for the Second Circuit, the court approved a joint SEC-Ripple motion to hold the appeal in abeyance — temporarily pausing the case — for 60 days. As part of the order, the SEC is expected to file a status report by June 15.April 16 order approving a motion to hold an appeal in abeyance. Source: PACERThe SEC’s case against Ripple and its executives, filed in December 2020, was expected to begin winding down after Ripple CEO Brad Garlinghouse announced on March 19 that the commission would be dropping its appeal against the blockchain firm. A federal court found Ripple liable for $125 million in an August ruling, resulting in both the SEC and blockchain firm filing an appeal and cross-appeal, respectively.However, once US President Donald Trump took office and leadership of the SEC moved from former chair Gary Gensler to acting chair Mark Uyeda, the commission began dropping multiple enforcement cases against crypto firms in a seeming political shift. Ripple pledged $5 million in XRP to Trump’s inauguration fund, and Garlinghouse and chief legal officer Stuart Alderoty attended events supporting the US president.Related: SEC dropping Ripple case is ‘final exclamation mark’ that XRP is not a security — John DeatonDespite support for the end of the case coming from both Ripple and the SEC, the August 2024 judgment and appellate cases leave some legal entanglements. Alderoty said in March that Ripple would drop its cross-appeal with the SEC and receive a roughly $75 million refund from the lower court judgment. It’s unclear what else may result from negotiations over a settlement in appellate court.New leadership at SEC incomingActing chair Uyeda is expected to step down following the US Senate confirming Paul Atkins as SEC chair on April 9. During his confirmation hearings, lawmakers questioned Atkins about his ties to crypto, which could create conflicts of interest in his role regulating the industry. In financial disclosures, Atkins stated he had millions of dollars in assets through stakes in crypto firms, including Securitize, Pontoro and Patomak. Magazine: SEC’s U-turn on crypto leaves key questions unanswered

by Cointelegraph by Rakesh Upadhyay on April 16, 2025 at 5:22 pm

Bitcoin (BTC) has risen above $85,000, signaling that the bulls are trying to form a higher low at $83,000. The short-term price action remains susceptible to news related to the US tariffs and the ongoing trade war with China.Gold has been a clear winner during the current bout of macroeconomic uncertainty. Citing data from Bank of America (BoA), The Kobeissi Letter said that gold funds are on track to hit $80 billion in net inflows year-to-date, roughly double the amount seen in 2020. In comparison, spot Bitcoin exchange-traded funds’ net inflows have shrunk to just $165 million after weeks of continuous outflows, per CoinShares data.Crypto market data daily view. Source: Coin360However, some cryptocurrency investors are happy about gold’s rally because a popular theory suggests that Bitcoin not only copies but exceeds gold’s rally with a few months’ lag. Anonymous crypto trader Titan of Crypto said in a post on X that Bitcoin could hit $137,000 by July-August 2025.Could Bitcoin bulls build momentum and push the price above the overhead resistance? Will the altcoins also see a short-term rally? Let’s analyze the charts of the top 10 cryptocurrencies to find out.Bitcoin price analysisBitcoin failed to rise above the 200-day simple moving average ($87,660) on April 15, but a minor positive is that the buyers have sustained the price above the 20-day exponential moving average ($83,289).BTC/USDT daily chart. Source: Cointelegraph/TradingViewThe flattish 20-day EMA and the relative strength index (RSI) near the midpoint suggest the sellers are losing their grip. Buyers will have to propel the price above the 200-day SMA to seize control. If they manage to do that, the BTC/USDT pair could jump to $95,000 and eventually to the psychologically crucial level at $100,000.Contrarily, a break and close below the 20-day EMA indicates that the bulls have given up. That could pull the pair down to $78,500 and later to $73,777.Ether price analysisEther’s (ETH) relief rally stalled at the 20-day EMA ($1,697) on April 14, suggesting that bears remain active at higher levels.ETH/USDT daily chart. Source: Cointelegraph/TradingViewSellers will try to strengthen their position by pulling the price below $1,471. If they do that, the ETH/USDT pair could fall to $1,368. Buyers will try to guard the $1,368 level, but the pair could slump to $1,150 if the bears have their way.The first sign of strength will be a break and close above $1,754. That opens the gates for a possible rally to $2,111. The 50-day SMA ($1,919) may act as a barrier, but it is likely to be crossed. Buyers will have to shove the price above $2,111 to signal that the downtrend may have ended.XRP price analysisXRP (XRP) broke below the 20-day EMA ($2.10) on April 15 and reached near the critical support at $2 on April 16. XRP/USDT daily chart. Source: Cointelegraph/TradingViewThe flattish 20-day EMA and the RSI just below the midpoint suggest a possible range-bound action in the near term. The XRP/USDT pair may swing between $2 and the 50-day SMA ($2.23) for a while.A break and close above the 50-day SMA could clear the path for a rally to the resistance line. This is an important level for the bears to defend because a break above it will signal a short-term trend change. On the downside, a break and close below $2 could sink the pair to $1.61.BNB price analysisBNB (BNB) has been trading inside a triangle, signaling buying near the support line and selling close to the downtrend line. BNB/USDT daily chart. Source: Cointelegraph/TradingViewThe downsloping moving averages and the RSI just below the midpoint indicate a slight edge to the bears. There is support at $566 and then at $550. If the price rebounds off the support, the bulls will again try to shove the price above the downtrend line. If they can pull it off, the BNB/USDT pair could rally to $644.Sellers are likely to have other plans. They will try to pull the price below $550 and retest the support line.Solana price analysisSellers successfully defended the 50-day SMA ($130) in Solana (SOL) and are trying to pull the price below the $120 support.SOL/USDT daily chart. Source: Cointelegraph/TradingViewThe flattish 20-day EMA ($124) and the RSI near the midpoint suggest a balance between supply and demand. Buyers are expected to defend the $120 to $110 support zone. If the price rebounds off the support zone, the bulls will again attempt to drive the SOL/USDT pair above the 50-day SMA. If they succeed, the pair could reach $153.Alternatively, if the price continues lower and breaks below $110, it indicates that bears remain in control. The pair could then tumble to the $95 support.Dogecoin price analysisDogecoin (DOGE) has been gradually sliding to the vital support at $0.14, where the buyers are expected to step in.DOGE/USDT daily chart. Source: Cointelegraph/TradingViewThe positive divergence on the RSI suggests that the bearish momentum could be weakening. If the price turns up from the current level or $0.14, the possibility of a break above the 50-day SMA ($0.17) increases. The DOGE/USDT pair will complete a double-bottom pattern on a break above $0.21, signaling that the downtrend may have ended.Conversely, a break and close below $0.14 signals the resumption of the downtrend toward the next major support at $0.10.Cardano price analysisCardano (ADA) turned down from the 20-day EMA ($0.64) on April 13, indicating that the bears continue to sell on rallies.ADA/USDT daily chart. Source: Cointelegraph/TradingViewSellers will try to strengthen their position by pulling the price below the $0.58 support. If they succeed, the ADA/USDT pair could slump to the critical level at $0.50. Buyers are expected to defend the level with all their might because the failure to do so may extend the downtrend to $0.40.On the upside, buyers are likely to face selling in the zone between the moving averages. A break and close above the 50-day SMA ($0.70) opens the doors for a rally to $0.83.Related: Why is XRP price down today?UNUS SED LEO price analysisBuyers have pushed UNUS SED LEO (LEO) above the 20-day EMA ($9.39), which is a positive sign.LEO/USD daily chart. Source: Cointelegraph/TradingViewThere is minor resistance at the 50-day SMA ($9.58), but the level is expected to be crossed. The LEO/USD pair may then retest the critical overhead resistance of $9.90. If buyers overcome the barrier at $9.90, the pair will complete an ascending triangle pattern. That could start a move toward the target objective of $12.04.Sellers will have to pull and maintain the price below $9.24 to gain the upper hand. That could start a decline to $8.79. Chainlink price analysisBuyers are struggling to propel Chainlink (LINK) above the 20-day EMA ($12.81), but they have kept up the pressure.LINK/USDT daily chart. Source: Cointelegraph/TradingViewThere is minor support at $11.68, but if the level cracks, the LINK/USDT pair could plunge to the support line of the descending channel pattern. Buyers are expected to defend the level, but if the bears prevail, the pair could drop to $8.If buyers want to make a comeback, they will have to kick the price above the moving averages. The pair could then climb to $16 and later to the resistance line. A break and close above the channel signals a potential trend change.Avalanche price analysisThe failure to push Avalanche (AVAX) above the downtrend line may have attracted profit booking by the short-term bulls.AVAX/USDT daily chart. Source: Cointelegraph/TradingViewThe bears are trying to sink the AVAX/USDT pair below the 20-day EMA ($18.98). If they manage to do that, the pair could descend to the $15.27 support. Buyers are expected to vigorously defend the $15.27 level because a break below it may start the next leg of the downtrend to $14 and then $12.The first sign of strength will be a break and close above the downtrend line. That opens the doors for a rally to $23.50. If buyers overcome this barrier, the pair will complete a double-bottom pattern with a target objective of $31.73.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 Sam Bourgi on April 16, 2025 at 5:15 pm

Tokenization company Securitize has expanded its digital asset operations by acquiring MG Stover’s fund administration business, in a move the company said has significantly grown its assets under management and ability to serve institutional clients.With the acquisition, MG Stover’s fund administration business has been absorbed into Securitize Fund Services, Securitize’s wholly owned subsidiary, the company disclosed. Securitize Fund Services now manages more than $38 billion in assets across 715 funds. Founded in 2007, MG Stover offers full-service fund administration spanning traditional financial industries like hedge funds, venture capital and private equity, as well as digital asset funds. A Securitize spokesperson informed Cointelegraph that the acquisition pertains only to MG Stover’s fund administration business and not the company as a whole.In an emailed statement to Cointelegraph, Securitize co-founder and CEO Carlos Domingo said, “The MG Stover acquisition significantly strengthens our institutional offering by adding one of the most experienced digital asset fund administration teams in the industry to Securitize Fund Services.” He continued:“Legacy fund administrators were never designed for the speed, complexity, or global reach of digital assets. Their systems struggle with the pressure of 24/7 markets, and they weren’t built to handle stablecoin flows or real-time settlements.”Securitize is one of the largest real-world asset (RWA) tokenization companies, having issued more than $3.3 billion in onchain assets, most notably the BlackRock USD Institutional Digital Liquidity Fund, also known as BUIDL.BUILD currently has nearly $2.5 billion in assets, according to industry data. BUIDL leads the booming market for tokenized US Treasurys. Source: RWA.xyzRelated: VC Roundup: 8-figure funding deals suggest crypto bull market far from overTokenization market heats upTokenized RWAs are a rapidly expanding segment of the blockchain industry, attracting both traditional investors and crypto-native users. RWA growth has defied the broad downtrend in the cryptocurrency market, with the total value of onchain financial assets surging 11.2% to $21 billion over the past 30 days, according to RWA.xyz.Amid the tokenization wave, Securitize recently partnered with Ethena Labs to create a new blockchain for the RWA economy. The forthcoming Converge blockchain will allow retail and institutional investors to access tokenized assets and decentralized finance applications. Meanwhile, the Mantra blockchain recently unveiled a $109 million ecosystem fund to bootstrap startups building across the RWA and DeFi economies. Related: Bitwise makes first institutional DeFi allocation

by Cointelegraph by Vince Quill on April 16, 2025 at 4:42 pm

Asset manager Bitwise has listed four Bitcoin (BTC) and Ether (ETH) exchange-traded products on the London Stock Exchange, expanding its presence in the European region.The listings include the Bitwise Core Bitcoin ETP, the Bitwise Physical Bitcoin ETP, Bitwise's Physical Ethereum ETP, and the Bitwise Ethereum Staking ETP, according to the April 16 announcement.The products are available to institutional or otherwise-qualified investors with an accreditation, and not open to retail investors.Bitwise is applying to launch crypto investment vehicles as digital assets gain a greater foothold in global financial markets, attracting more institutional interest in crypto and increasing the legitimacy of the nascent asset class.Related: Bitwise doubles down on $200K Bitcoin price prediction amid trade tensionBitwise expands ETF offerings following a regulatory shift in the USThe resignation of former Securities and Exchange Commission (SEC) Chairman Gary Gensler triggered a wave of crypto ETF applications in the United States. Asset managers and crypto firms rushed to submit filings in anticipation of a relaxed regulatory regime once Gensler left the agency in January.Bitwise's BTC and ETH ETF, which gives investors exposure to both digital assets in a single investment vehicle, was granted preliminary approval by the SEC in January but still requires final approval before listing.In March 2025, the New York Stock Exchange (NYSE) submitted an application for a rule change to list the Bitwise Dogecoin ETF on the US-based exchange.If approved, Dogecoin (DOGE) would be the first memecoin with a US-listed investment vehicle and could attract more institutional inflows into the dog-themed social token.Bitwise also filed for an Aptos ETF in March. The proposed Bitwise Aptos ETF will hold the native cryptocurrency of the high-throughput layer-1 blockchain, APT (APT), and will not feature staking rewards.Bitwise CIO Matt Hougan predicted Bitcoin ETFs would attract $50 billion in inflows during 2025.Institutional inflows into crypto ETFs act as a price stabilizer for digital assets with investment vehicles, lowering volatility through a pipeline siphoning capital from traditional investors in the stock market to cryptocurrencies.Magazine: Bitcoin ETFs make Coinbase a ‘honeypot’ for hackers and governments: Trezor CEO

by Cointelegraph by Yohan Yun on April 16, 2025 at 4:02 pm

The right market maker can be a launchpad for a cryptocurrency project, opening the door to major exchanges and providing valuable liquidity to ensure a token is tradeable — but when the wrong incentives are baked into the deal, that market maker can become a wrecking ball.One of the most popular and misunderstood offerings in the market-making world is the “loan option model.” This is when a project lends tokens to a market maker, who then uses them to create liquidity, improve price stability, and help secure listings at a cryptocurrency exchange. In reality, it has been a death sentence for many young projects.But behind the scenes, a number of market makers is using the controversial token loan structure to enrich themselves at the expense of the very projects they’re meant to support. These deals, often framed as low-risk and high-reward, can crater token prices and leave fledgling crypto teams scrambling to recover.“How it works is that market makers essentially loan tokens from a project at a certain price. In exchange for those tokens, they essentially promise to get them on big exchanges,” Ariel Givner, founder of Givner Law, told Cointelegraph. “If they don’t, then within a year, they repay them back at a higher price.”What often happens is that market makers dump the loaned tokens. The initial sell-off tanks the price. Once the price has cratered, they buy the tokens back at a discount while keeping the profit.Source: Ariel Givner“I haven’t seen any token really benefit from these market makers,” Givner said. “I’m sure there are ethical ones, but the bigger ones I’ve seen just destroy charts.”The market maker playbookFirms like DWF Labs and Wintermute are some of the best-known market makers in the industry. Past governance proposals and contracts reviewed by Cointelegraph suggest that both firms proposed loan option models as part of their services — though Wintermute’s proposals call them “liquidity provision” services.DWF Labs told Cointelegraph that it doesn’t rely on selling loaned assets to fund positions, as its balance sheet sufficiently supports its operations across exchanges without relying on liquidation risk. “Selling loaned tokens upfront can damage a project’s liquidity — especially for small- to mid-cap tokens — and we’re not in the business of weakening ecosystems we invest in,” Andrei Grachev, managing partner of DWF Labs, said in a written response to Cointelegraph’s inquiry.Related: Who’s really getting rich from the crypto bull run?While DWF Labs emphasizes its commitment to ecosystem growth, some onchain analysts and industry observers have raised concerns about its trading practices.Wintermute did not respond to Cointelegraph’s request for comment. But in a February X post, Wintermute CEO Evgeny Gaevoy published a series of posts to share some of the company’s operations with the community. He bluntly stated that Wintermute is not a charity but in the “business of making money by trading.” Source: Evgeny GaevoyWhat happens after the market maker gets the tokens?Jelle Buth, co-founder of market maker Enflux, told Cointelegraph that the loan option model is not unique to the well-known market makers like DWF and Wintermute and that there are other parties offering such “predatory deals.”“I call it information arbitrage, where the market maker very clearly understands the pros and cons of the deals but is able to put it such that it’s a benefit. What they say is, ‘It’s a free market maker; you don’t have to put up the capital as a project; we provide the capital; we provide the market-making services,’” Buth said.On the other end, many projects don’t fully understand the downsides of loan option deals and often learn the hard way that they weren’t built in their favor. Buth advises projects to measure whether loaning out their tokens would result in quality liquidity, which is measured by orders on the book and clearly outlined in the key performance indicators (KPIs) before committing to such deals. In many loan option deals, KPIs are often missing or vague when mentioned.Cointelegraph reviewed the token performance of several projects that signed loan option deals with market makers, including some that worked with multiple firms at once. The outcome was the same in those examples: The projects were left worse off than when they started.Six projects that worked with market makers under the loan option agreement tanked in price. Source: CoinGecko“We’ve worked with projects that were screwed over after the loan model,” Kristiyan Slavev, co-founder of Web3 accelerator Delta3, told Cointelegraph.“It’s exactly the same pattern. They give tokens, then they’re dumped. That’s pretty much what happens,” he said.Not all market-maker deals end in disasterThe loan option model isn’t inherently harmful and can even benefit larger projects, but poor structuring can quickly turn it predatory, according to Buth.A listings adviser who spoke to Cointelegraph on the condition of anonymity echoed the point, emphasizing that outcomes depend on how well a project manages its liquidity relationships. “I’ve seen a project with up to 11 market makers — about half using the loan model and the rest smaller firms,” they said. “The token didn’t dump because the team knew how to manage price and balance the risk across multiple partners.”The adviser compared the model to borrowing from a bank: “Different banks offer different rates. No one runs a money-losing business unless they expect a return,” they said, adding that in crypto, the balance of power often favors those with more information. “It’s survival of the fittest.”But some say the problem runs deeper. In a recent X post, Arthur Cheong, founder of DeFiance Capital, accused centralized exchanges of feigning ignorance of artificial pricing fueled by token projects and market makers working in lockstep. “Confidence in the altcoin market is eroding,” he wrote. “Absolutely bizarre that CEXs are turning an absolute blind eye to this.”Still, the listings adviser maintained that not all exchanges are complicit: “The different tier exchanges are also taking really extreme actions against any predatory market makers, as well as projects that might look like they rugged. What exchanges do is they actually immediately lock up that account while they do their own investigation.”“While there is a close working relationship, there is no influence between the market maker and the exchange of what gets listed. Every exchange would have their own due diligence processes. And to be frank, depending on the tier of the exchange, there is no way that there would be such an arrangement.”Related: Crypto’s debanking problem persists despite new regulationsRethinking market maker incentivesSome argue for a shift toward the “retainer model,” where a project pays a flat monthly fee to a market maker in exchange for clearly defined services rather than giving away tokens upfront. It’s less risky, though more expensive in the short term.“The retainer model is much better because that way, market makers have incentives to work with the projects long term. In a loan model, you get, like, a one-year contract; they give you the tokens, you dump the tokens, and then one year after that, you return the tokens. Completely worthless,” Slavev said.While the loan option model appears “predatory,” as Buth put it, Givner pointed out that in all these agreements, both parties involved agree to a secure contract.“I don’t see a way that, at this current time, this is illegal,” Givner said. “If somebody wanted to look at manipulation, that’s one thing, but we’re not dealing with securities. So, that gray area is still there in crypto — [to] some extent the Wild West.”The industry is becoming more aware of the risks tied to loan option models, especially as sudden token crashes increasingly raise red flags. In a now-deleted X post, onchain account Onchain Bureau claimed that a recent 90% drop in Mantra’s OM token was due to an expiring loan option deal with FalconX. Mantra denied the claim, clarifying that FalconX is a trading partner, not its market maker.Edited LinkedIn copy of Onchain Bureau’s LinkedIn post. Source: Nahuel AngeloneBut the episode highlights a growing trend: The loan option model has become a convenient scapegoat for token collapses — often with good reason. In a space where deal terms are hidden behind NDAs and roles like “market maker” or “trading partner” are fluid at best, it’s no surprise the public assumes the worst.“We’re speaking up because we make money off the retainer model, but also, this [loan option model] is just killing projects too much,” Buth said.Until transparency and accountability improve, the loan option model will remain one of crypto’s most misunderstood and abused deals.Magazine: What do crypto market makers actually do? Liquidity or manipulation

by Cointelegraph by William Suberg on April 16, 2025 at 3:43 pm

Bitcoin (BTC) centered on $84,000 at the April 16 Wall Street open amid hopes that a weak US dollar would fuel a bull market comeback.BTC/USD 1-hour chart. Source: Cointelegraph/TradingViewBitcoin analysis calls for 2023 rally repeatData from Cointelegraph Markets Pro and TradingView showed BTC/USD consolidating after a swift comedown from local highs the day prior.That volatility had accompanied ongoing developments in the US-China trade war, with crypto and risk assets staying sensitive to headlines and statements from parties such as US President Donald Trump.The S&P 500 and Nasdaq Composite Index traded down 1.4% and 2.2%, respectively, at the time of writing.Gold remained the standout winner, having set new all-time highs above $3,300 per ounce on the day.“Unlike gold, BTC has not caught a safe-haven bid,” trading firm QCP Capital summarized in its latest bulletin to Telegram channel subscribers. “The ‘alternative store of value’ narrative isn't gaining traction in the current macro regime. Positioning remains defensive. Participants are still focused on hedging their downside until greater clarity emerges.”Gold/USD price 1-hr candle chart. Source: Cointelegraph/TradingViewLooking for potential tailwinds, market participants focused on the US dollar’s inability to reclaim prior support after sliding precipitously as the trade war took hold.The US dollar index (DXY) hovered near multiyear lows after rejecting at the psychologically significant 100 mark.US Dollar Index price 1-hr candle chart. Source: Cointelegraph/TradingView“DXY is dropping at its fastest pace since 2023,” popular trader BitBull told followers in a post on X.BitBull drew comparisons to BTC price performance from the time, with early 2023 seeing Bitcoin and altcoins emerge from the pit of the 2022 bear market.“Back then, $BTC had already bottomed (Q4 2022) and went on to rally 200%+ within a year,” he continued.“I guess it’s time for btc to repeat the 2023-24 rally.”Source: X/@AkaBull_Andre Dragosch, European head of research at asset management firm Bitwise, meanwhile flagged Goldman Sachs research seeing further DXY downside to come.“NOTE: US Dollar is still significantly overvalued according to GS,” he commented alongside a Goldman chart of dollar strength versus US growth performance. “Lots of room for USD depreciation = upside potential for BTC to re-rate.”Source: X/@Andre_DragoschBTC price gives cautious bullish hintsBitcoin traders eyed various positive chart signals on the day, with these including a potential bottom formation on the 4-hour chart.Related: Can 3-month Bitcoin RSI highs counter bearish BTC price 'seasonality?'“Forming an Inverse Head & Shoulders Pattern on the 4H timeframe, if we manage to hold a Higher Low in the coming days,” popular trader Luca suggested.Source: X/@MirageMogulCrypto trader, analyst and entrepreneur Michaël van de Poppe hoped for a fresh retest of resistance, for him one of two key areas of interest.“Bitcoin is still nicely consolidating between the two levels,” he concluded. “The test at $87K did happen, and I think that we'll see a big breakout once we'll retest it again. What's next? Likely a run to ATH at the end of this quarter.”Source: X/@CryptoMichNLThis 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 Mārtiņš Beņķītis on April 16, 2025 at 3:00 pm

Opinion by: Mārtiņš Beņķītis, co-founder and CEO of Gravity TeamAs crypto adoption plateaus in some developed nations, emerging markets have led the charge for adoption. Southeast Asia, Africa and Latin America have become rapid growth centers, with new activity driven by limited banking options, local currency instability and growing smartphone use. The need for alternative finance in these regions is acute. While blockchain technology can deliver it, it certainly won’t be easy.A significant hurdle in emerging crypto markets is market-making, where traditional approaches have struggled as a result of specific challenges, including limited infrastructure and economic instability. Standard market-making strategies often fail or are simply unable to account for these complexities. A new approach known as “boutique market-making” can unlock growth, providing tailored liquidity solutions that consider local factors like regional regulations, cultural nuance and specific pain points for each market. This “boutique” approach will bring enormous benefits to the average person in emerging markets and, for the first time, create access to financial services and give them control over their economic outlook.Providing liquidity in emerging markets is challengingWhile the potential for growth in emerging crypto markets is clear to see, tapping into it is not. The path is fraught with challenges that require a specialized and nuanced approach. Here, standard market-making strategies are largely ineffective. Consider trying to navigate the regulatory maze of a country where the rules keep changing and the economy is delicate and volatile. That’s the reality in Argentina. Stringent capital controls create a technical minefield for crypto transactions, requiring 24/7 monitoring and hyper-reactive strategies to ensure compliance. Why would any liquidity provider want to work with such uncertainty?Then there’s the technological issue. Many local exchanges are built on outdated infrastructure with high latency and slippage. It’s far from the seamless APIs and lightning-fast execution of the world’s top platforms. It leads to traders and liquidity providers being discouraged from participating, resulting in thin order books, a persistent drought, and a vicious cycle of low liquidity and limited opportunity. FX volatility further compounds the issue. Some fiat currencies experience wild fluctuations that deliver immediate conversion risks. Many local banking systems, aiming to protect their clients from this volatility, have implemented blanket bans on crypto-related transactions, causing settlement friction. This cocktail of issues has pushed people away from centralized banking and right into the waiting arms of peer-to-peer trading, where direct transactions further fragment liquidity and make it hard for localized cryptocurrency exchanges to gain traction. These technical hurdles, however, can be overcome. They just require a contextually rich approach to market making, one that is acutely aware of every risk, issue, human need and cultural factor.Why standardized solutions fail in emerging marketsTraditional market-making firms are used to standardized protocols, which makes it hard for them to adapt, leading to inadequate liquidity failures. This is particularly evident in regions like Argentina and Turkey, where local conditions demand bespoke solutions, despite Turkey having the highest crypto adoption rate in the world at 27.1%, followed by Argentina at 23.5%. These are well above the global crypto ownership rate estimated at 11.9%.In Argentina, boutique firms can facilitate US dollar stablecoin flows to provide a crucial lifeline for those needing a stable alternative to the volatile peso and capital controls. Even considering this kind of service requires a deep understanding of local regulations and a proactive compliance approach.In Turkey, price discrepancies between global and local platforms create considerable inefficiencies. Boutique market-makers stepped in to act as bridges, smoothing out inefficiencies and ensuring fairer prices for local traders.Recent: Cryptocurrency investment should favor emerging marketsTake a look at Bolivia. Cryptocurrency was legalized in June 2024, with local crypto exchanges launching soon after but being starved of liquidity. Large firms didn’t want to touch them. Suddenly, when boutique market-makers stepped in, slippage was reduced, and prices stabilized, making trading more viable for investors of all sizes. The people won. The ability to build trust and forge lasting relationships with local communities and regulators is crucial. Hands must be shaken, and words must be kept.Stable liquidity fuels opportunitiesBoutique market makers work hard to deliver stable liquidity, in turn unlocking countless opportunities for people within emerging crypto markets. By providing consistent buy and sell orders, they reduce slippage and price volatility, creating a reliable environment for developers to build tools, platforms and decentralized applications tailored to local needs. The stability provided by boutique market makers stems from their tailored strategies, using local knowledge, navigating regulatory mazes and bridging fragmented markets. This is unlike standardized approaches, which often falter on outdated tech or compliance hurdles. For users, this means accessible, liquid markets that support practical crypto use, from remittances to daily transactions, driving real-world adoption.A boutique market making futureEmerging crypto markets stand at a tipping point. With their agility and local insight, boutique market-makers are the key to turning potential into action and opportunity. It’s time for stakeholders, exchanges, regulators and communities to properly rally behind these specialized players, nurturing ecosystems where innovation thrives and everyday users gain real access. The path ahead is about building a foundation for a decentralized economy that works for all. To get there, liquidity is essential. Opinion by: Mārtiņš Beņķītis, co-founder and CEO of Gravity Team.This article is for general information purposes and is not intended to be and should not be taken as legal or investment advice. The views, thoughts, and opinions expressed here are the author’s alone and do not necessarily reflect or represent the views and opinions of Cointelegraph.

by Cointelegraph by Helen Partz on April 16, 2025 at 2:53 pm

Update (April 16, 6:50 pm UTC): This article has been updated to add a comment by Mantra CEO John Mullin.Troubled decentralized finance (DeFi) platform Mantra released an official statement addressing the reasons for a 92% flash crash of its OM token on April 13.An April 16 announcement titled “Statement of Events: 13 April 2025” reiterates that the crash did not involve any token sales by the project itself, and the Mantra team remains fully functional and continues investigating the incident.Although Mantra CEO John Mullin previously said that the team was preparing a post-mortem, the new statement offered few new details about the reasons behind the rapid movement of OM tokens to exchanges and the subsequent liquidation cascade.Source: John Mullin “The purpose of the announcement was to share an updated analysis on the key factors that caused the price movement and verifiable data about the circulating supply,” Mullin subsequently told Cointelegraph, adding that the investigation is still underway.Reasons for the OM crashIn the update, the Mantra team pointed to “significant amounts of OM tokens moved onto exchanges for use as collateral” and "forced OM position closures" as the main factors that triggered liquidations, including automatic ones.“We believe those are the reasons for the event, but we are still looking into the details of how and why the events transpired,” the Mantra CEO told Cointelegraph.As the investigation unfolds, the Mantra team plans to share a formal post-mortem, Mullin added.Mantra teams up with unnamed blockchain analystsIn order to proceed with the investigation, Mantra has teamed up with unspecified blockchain analysts to get insights on the underlying causes of the crash, Mullin told Cointelegraph.“We have done so, although the details are confidential,” the CEO stated.Mantra has also been considering hiring a forensic auditor following the April 13 events. According to Mullin, the discussions involved professionals, including the business consultancy firm FTI Consulting, but no decisions have been made so far.Related: Mantra CEO plans to burn team’s tokens in bid to win community trustMullin also told Cointelegraph the Mantra team has about 90 full-time employees, adding:“Our entire team is currently heads down, focused on the health and future of the company. We are not anticipating layoffs at this time.”Limited circulation of mainnet OM tokensIn the post, Mantra reiterated that there are two types of OM tokens, with one being Ethereum-based (ERC-20) and the other running on Mantra’s mainnet.“The incident almost exclusively involved ERC-20 OM, as ERC-20 OM represents virtually the entire liquid market,” Mantra said in the statement.Details on the OM circulating supply. Source: MantraLaunched in August 2020, the original ERC-20 OM token has a fixed supply of 888.8 million OM, with 99.9% of these tokens being in public circulation as of April 15.However, Mantra mainnet OM tokens had only 77.5 million in circulation after the Mantra Chain minted an equivalent amount of OM in October 2024.Mantra’s conclusionsAdditionally, the post mentions a divergence in OM spot prices on OKX and Binance. The discrepancy began around 6:00 pm UTC, around an hour before the OM token’s crash, according to CoinGecko.Among its conclusions, Mantra stated that further information from its exchange partners will “provide more clarity on these events, adding:“We invite our centralized exchanges partners to collaborate on providing more clarity on trading activities during this time.”The Mantra team confirmed that it is preparing a support plan for OM that includes both a token buyback and a supply burn. No timeline for the rollout of this plan was provided.As previously reported by Cointelegraph, OKX CEO Star Xu called Mantra a “big scandal” in a post published hours following the crash. Mantra CEO Mullin also said Binance is the biggest holder of the OM token, citing Etherscan records.Magazine: Memecoins are ded — But Solana ‘100x better’ despite revenue plunge

by Cointelegraph by Adrian Zmudzinski on April 16, 2025 at 2:01 pm

Real estate-focused financial technology firm Janover has acquired 80,567 Solana tokens for roughly $10.5 million.According to an April 15 announcement, with its latest purchase, Janover’s Solana (SOL) holdings reached 163,651.7 — worth about $21.2 million, including staking rewards. With this investment, the amount of Solana per each of the 1.5 million shares reached 0.11 SOL, valued at $14.47 — an increase of 120%.Janover stock price chart. Source: Google FinanceJanover plans to start staking the newly acquired SOL immediately to generate additional revenue. The announcement follows the company raising about $42 million with the expressed intent to enhance its digital asset treasury strategy.The new capital was raised in a convertible note and warrants sale from Pantera Capital, Kraken, Arrington Capital, Protagonist, The Norstar Group, Third Party Ventures, Trammell Venture Partners and 11 angel investors. At the same time, a team of former Kraken executives has taken control of the company.Joseph Onorati, former chief strategy officer at Kraken, stepped in as chairman and CEO at Janover following the group’s purchase of over 700,000 common shares and all Series A preferred stock. Related: Real estate firm Fathom can now add Bitcoin to its balance sheetAltcoins on the balance sheet?Janover is one of the latest companies to decide to add digital assets to their corporate treasury. What makes it an outlier is the decision to accumulate an asset that is not Bitcoin (BTC).The most notable example of a Bitcoin-accumulating firm is Strategy (formerly MicroStrategy). Strategy is a publicly traded business intelligence company founded as MicroStrategy in 1989.In 2020, the firm pivoted to acquiring as much Bitcoin as possible. Strategy now holds well over 2.5% of all Bitcoin that will ever be produced.Related: Bitcoin on corporate balance sheets: What’s the risk and reward?Bitcoin dominates balance sheetsBitcoinTreasuries.NET data shows that Strategy holds 528,185 BTC worth nearly $44.2 billion at the time of writing. The company has leveraged debt to accumulate its Bitcoin.Another example of a company that is now focused on accumulating Bitcoin is Metaplanet, often referred to as “Japan’s MicroStrategy.” Both companies hold Bitcoin as a hedge against inflation and as part of a broader strategy to diversify and modernize their treasuries.According to some analysts, this strategy may soon pay off. Bitcoin is showing growing resilience to macroeconomic headwinds compared with traditional financial markets, according to a recent Wintermute report. Still, not everyone is convinced that the trend will hold, with the founder of Obchakevich Research, Alex Obchakevich, saying:“As the trade war intensifies, Bitcoin may return to the list of risky assets. Because investors will most likely look for salvation in gold.“Magazine: Bitcoin eyes $100K by June, Shaq to settle NFT lawsuit, and more: Hodler’s Digest, April 6 – 12

by Cointelegraph by Zoltan Vardai on April 16, 2025 at 2:00 pm

VeChain, a layer-1 blockchain platform focused on real-world applications, has added Ultimate Fighting Championship (UFC) CEO Dana White as its newest official adviser to raise more mainstream awareness of blockchain technology.White, also the founder of Power Slap, will join VeChain’s advisory board next to Nobel Prize-winning physicist Konstantin Novoselov to drive real-world blockchain adoption through “complementary expertise in mass marketing and scientific innovation.”“VeChain is an incredible partner for the UFC and Power Slap, and I’m honored to join their advisory board,” White said in a statement shared with Cointelegraph. “I’m passionate about technology, and with their products and innovation, I’m looking forward to helping elevate their brand to the next level.”UFC CEO Dana White (left) with Sunny Lu, co-founder and CEO of VeChain (right). Source: Jeff Bottari, UFCRelated: 4th gen crypto needs collaborative tokenomics against tech giants — HoskinsonThe move could significantly expand blockchain’s reach. UFC broadcasts reach more than 950 million households globally, giving VeChain a major opportunity to connect with new users.White will play a pivotal role in amplifying VeChain’s sustainability initiative, VeBetterDAO, a decentralized platform incentivizing “real-world sustainable actions” through the DAO’s incentive tokens (B3TR).White will not receive any B3TR or VeChain (VET) tokens as compensation for his advisory role, VeChain confirmed to Cointelegraph.Related: Bitcoin still on track for $1.8M in 2035, says analystUFC taps VeChain for tokenized fighter glovesThe UFC has already implemented VeChain’s technology, with Near-field communication (NFC) chips integrated into a new generation of fighter gloves.Source: VeChain“This was done to combat fraud, as fighter apparel is often auctioned off for charity and other causes, but suffers from a high degree of fraud,” Sunny Lu, co-founder and CEO of VeChain, told Cointelegraph, adding:“The NFC + blockchain combination helps demonstrate the items are authentic. An example of how VeChain creates 'RWA' and phygital goods.”“Additional conversations are underway with the UFC, the UFC Foundation and other partners to provide opportunities for VeChain and the VeBetter app ecosystem,” with details to be revealed in the coming weeks, Lu added.VeChain is a layer-1 smart contract platform designed to enhance the supply chain and accelerate the mass adoption of blockchain technology.Magazine: Bitcoin eyes $100K by June, Shaq to settle NFT lawsuit, and more: Hodler’s Digest, April 6 – 12

by Cointelegraph by Zoltan Vardai on April 16, 2025 at 2:00 pm

Ethereum’s push toward layer-2 (L2) blockchain scalability may be a double-edged sword for Ether, potentially weakening the value accrual of the world’s second-largest cryptocurrency, according to a new report from Binance Research.The report suggests that Ethereum’s L2 blockchain networks — built to improve mainnet scalability and lower transaction costs — may be cannibalistic of the Ethereum base layer, negatively impacting the price of Ether (ETH).Ethereum’s dominance in terms of decentralized exchange (DEX) volume and fees generated is “under threat” by Solana and BNB Smart Chain, Binance Research wrote.Ethereum, Solana, BNB, DEX volume. Source: Binance ResearchThe main factors include slow and expensive transactions, fragmented “developer mindshare and liquidity, and reduced value accrual to the L1 due to the rise of L2s,” the report said. Ethereum’s roadmap already includes future upgrades aimed at creating cheaper transactions, additional security, and more future-proof incentives for the mainnet.Still, Ether’s value accrual may continue to suffer in the near term since the next two major upgrades don’t immediately address these issues, but are aimed at creating more scalability around data availability and incorporating more L2 networks. Related: Google to enforce MiCA rules for crypto ads in Europe starting April 23Concerns have been reignited around the Ethereum mainnet’s economic incentives since Ether’s price fell to $1,410 on April 7, marking its lowest level since March 2023.ETH/USD, 1-year chart. Source: CointelegraphEther’s price fell over 61% during a four-month downtrend, which started on Dec. 16, 2024, when ETH briefly peaked above $4,100, Cointelegraph Markets Pro data shows.Ethereum’s Pectra, Fusaka upgrade won’t address Ether’s value accrualAfter initial delays, Ethereum’s highly anticipated Pectra upgrade is set to go live on the mainnet on May 7.The Pectra upgrade aims to improve Ether staking and L2 network scalability, increase blob capacity to enable more data handling on the mainnet and improve overall network capacity.The Fusaka upgrade, expected in late 2025, will focus on scaling the Ethereum mainnet as a data availability layer by introducing EIP-7594. Fusaka may also bring an update to the Ethereum Virtual Machine (EVM), resulting in a “more structured approach” to smart-contract creation, reducing runtime overhead and improving developer experience.Ethereum data capacity upgrades. Source: Binance ResearchEthereum’s commitment to L2 scaling may be a “double-edged sword” due to concerns around the mainnet’s “competitiveness as a data availability layer” and “the sustainability of value accrual to Ethereum the asset,” the report said.Related: Ethereum shorter gains $1.1M on 50X leverage in 2 days“One promising path for stronger ETH value accrual is the development of based rollups,” which “contribute significantly more in fees” to Ethereum compared with L2s like Base, Arbitrum and Optimism, according to a Binance Research spokesperson.L2s, rollups by costs paid to Ethereum mainnet. Source: Binance Research“Another avenue is Ethereum’s evolving role as a data availability layer,” the spokesperson told Cointelegraph, adding:“Value accrual through this model depends on external factors: L2s must continue to choose Ethereum for data availability, and blockspace demand must grow in a competitive landscape where alternatives like Solana and BNB Smart Chain are gaining traction.”“Aligning incentive structures between Ethereum and L2s, whether through fee sharing, MEV capture, or protocol-level integrations, will be essential to ensure sustainable value flow back to ETH as an asset should Ethereum continue to commit to scaling with L2s,” he added.Magazine: 3 reasons Ethereum could turn a corner: Kain Warwick, X Hall of Flame

by Cointelegraph by Ezra Reguerra on April 16, 2025 at 1:47 pm

Crypto market maker DWF Labs announced a $25 million investment in World Liberty Financial, the decentralized finance (DeFi) project backed by US President Donald Trump and his sons, as the company expands into the United States with an office in New York City. On April 16, Dubai-based DWF Labs said it had purchased World Liberty Financial (WLFI) tokens through a private transaction.The firm said the transaction reflects its intent to participate in WLFI’s governance. As tokenholders, DWF Labs will be able to vote on decisions that impact the ecosystem.WLFI launched on Sept. 16, 2024, to promote DeFi and US dollar-pegged stablecoins. During the launch, Trump said the family was “embracing the future with crypto and leaving the slow and outdated big banks behind.”DWF Labs to provide liquidity for USD1 stablecoinAlongside the WLFI investment, DWF Labs said the collaboration includes providing liquidity for the project’s stablecoin, World Liberty Financial USD (USD1). On March 24, the DeFi project launched USD1 on BNB Chain and Ethereum. However, the project clarified that the stablecoin was not yet tradable. DWF Labs is a market maker that provides liquidity for over 60 exchanges around the globe. A market maker allows traders to execute their trades by providing liquidity. They make or take orders from traders, allowing smooth trading operations. The investment coincides with DWF’s expansion into the US. The market maker said it had established an office in New York City as part of its global expansion plans. The company expects the expansion to improve its institutional partnerships with banks, asset managers and fintech companies. It also aims to strengthen its engagement with US regulators. Related: DWF Labs launches $250M fund for mainstream crypto adoptionWLFI has raised over $600 million since its launchSince its launch in September, World Liberty Financial has already raised over $600 million for its DeFi protocol. The company raised $300 million during its first token sale by selling 20 billion WLFI tokens. The company sold another 5 billion tokens at $0.05 each, meeting its price target of an extra $250 million on March 14. This puts the overall WLFI public token sales earnings at $550 million. On Nov. 25, Tron Founder Justin Sun purchased 2 billion WLFI tokens for $30 million. Investment platform Web3Port also announced a $10 million WLFI investment, while venture capital firm Oddiyana Ventures announced a strategic investment without disclosing the amount. Magazine: What do crypto market makers actually do? Liquidity, or manipulation

by Cointelegraph by Nancy Lubale on April 16, 2025 at 1:36 pm

XRP (XRP) fell on April 7, down 4% in the last 24 hours to trade at $2.07, fueled by a mix of macroeconomic uncertainty, market dynamics, and technical factors.XRP/USD daily chart. Source: Cointelegraph/TradingViewKey catalysts driving the XRP prices lower today include:Crypto falls as US tariffs breed uncertainty in global markets.Export restrictions on Nvidia have further dampened sentiment for risk assets like XRP. Continued rejections at the $2.17 resistance level.XRP's rising wedge pattern signals a potential price plunge to $1.60.XRP drops in tandem with crypto marketThe bearish sentiment was not only exclusive to XRP as crypto prices dropped across the board, fueled largely by the US-China trade war. Bitcoin (BTC) is down 2% over the last 24 hours. While Ether (ETH) has lost more than 3% of its value over the last 24 hours to trade just below $1,600. Solana (SOL), Cardano (ADA), and Sui (SUI) bore the brunt of today’s market drawdown among the top-cap cryptocurrencies, each posting more than 5% daily losses.As a result, the global crypto market capitalization is down 2.6% on the day at $2.64 trillion.24-hour performance of top-cap cryptocurrencies: Source: Coin360This broader correction stems from uncertainty surrounding possible US-China trade talks and the latest restrictions on tech exports.On April 16, the White House said that US President Donald Trump is open to making a trade deal with China, but the ball was in Beijing’s court. This has turned traders risk-off as they wait on the potential resolution.“Olive Branch or Retreat?,” trading firm QCP Capital asked in an April 16 Telegram note to investors, arguing that in spite of both sides maintaining a hawkish public posture, cracks were beginning to emerge. QCP Capital pointed out that the White House’s over-the-weekend tariff exemption on tech products (smartphones, computers and chips) was answered by “China’s 'complete cancellation' of their reciprocal tariffs.” “So who blinks first? Washington is angling for leverage, while Beijing seeks room to breathe. Yet neither can afford to project weakness.”Additionally, export restrictions on Nvidia, a key player in AI and tech, have dampened sentiment for risk assets like XRP. This risk-off sentiment has driven investors toward safe havens like gold, which is hitting new record highs.XRP price validates a rising wedge patternXRP has confirmed a rising wedge pattern on the daily chart after closing below the support line of the wedge at $2.15.In technical analysis, a rising wedge is a bearish reversal chart pattern that comprises two converging trend lines that connect higher lows and higher highs. This convergence indicates weakening upward momentum. The pattern resolves when the price breaks below the lower trendline, suggesting a potential price decline. XRP is currently testing the support level at $2.00 after the wedge’s lower trendline turned into resistance on April 15.A key level to watch for a possible bounce is the four-hour support around $1.90. However, a high-volume move below this support level could accelerate the XRP lower.The maximum loss target from the wedge’s height indicates that XRP could drop to $1.73 or revisit the starting point of the rising wedge at $1.60 over the next few days. This would represent another 23% drop from the current level.XRP/USD daily chart. Source: Cointelegraph/TradingViewThe relative strength index (RSI) has dropped from 67 to 48 over the last three days, indicating an increasing bearish momentum.Related: XRP price analysts project $10 next, ‘optimistic’ target of $20Meanwhile, crypto analyst CasiTrades said that the lower trendline of the wedge around $2.17 continues to “act as a strong ceiling” for XRP.“As of now, we don’t have a new high or low, so there’s still no confirmation of the next move,” CasiTrades explained, adding:“If this rejection continues to play out, support at $1.90 and $1.55 remains firmly in play.”XRP/USD hourly chart. Source: CasiTradesThis 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.