Alternative News for You

on April 2, 2025 at 5:50 am

Min Woo Lee felt like he wasn't playing well enough to back up his entertaining social media presence but will enter the Masters validated as a PGA Tour winner.

by Cointelegraph by Stephen Katte on April 2, 2025 at 5:49 am

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

by Carrington Clarke on April 2, 2025 at 5:47 am

No matter how it might be spun, a small judicial election in the US state of Wisconsin was a terrible result for both President Donald Trump and his billionaire adviser Elon Musk. 

by Rachel Clayton on April 2, 2025 at 5:45 am

Casino owner Star is once again searching for a backer after its proposed $750 million deal with investment manager Salter Brothers fell through. 

by Keane Bourke on April 2, 2025 at 5:41 am

An independent review has been announced into this year's WA election after reports of widespread problems at polling booths.

by Rosie King on April 2, 2025 at 5:29 am

Convicted rapist and former army officer cadet Jake Sullivan showed no emotion as a statement detailing how his actions left his victim feeling “worthless and broken” was read to the ACT Supreme Court.

by Cointelegraph by Martin Young on April 2, 2025 at 5:29 am

The US Securities and Exchange Commission and crypto exchange Gemini have asked to pause the regulator’s suit over the exchange's Gemini Earn program, saying they want to discuss a potential resolution. In an April 1 letter to New York federal court judge Edgardo Ramos, lawyers representing the SEC and Genesis requested a 60-day hold on the case and that all deadlines be pulled “to allow the parties to explore a potential resolution.” “In this case, the parties submit that it is in each of their interests to stay this matter while they consider a potential resolution and agree that no party or non-party would be prejudiced by a stay,” the letter states.The lawyers added that a stay was in the court’s interest as “a resolution would conserve judicial resources” and proposed that a joint status report be submitted within 60 days after the entry of the stay.The SEC sued Gemini and crypto lending firm Genesis Global Capital in January 2023, alleging they offered unregistered securities through the Gemini Earn program.In March 2024, Genesis agreed to pay $21 million to settle charges related to the lending program, but the enforcement case against Gemini remains outstanding.Letter from SEC and Genesis Global requesting extension of stay. Source: CourtListenerThe letter did not specify what a possible resolution would entail, but the SEC has dropped several lawsuits it launched against crypto companies under the Biden administration, including against Coinbase, Ripple and Kraken.Related: Will new US SEC rules bring crypto companies onshore?In February, Gemini said the SEC closed a separate investigation into the firm as the regulator winds back its crypto enforcement under President Donald Trump. “The SEC cost us tens of millions of dollars in legal bills alone and hundreds of millions in lost productivity, creativity, and innovation. Of course, Gemini is not alone,” Gemini co-founder Cameron Winklevoss said at the time.OpenSea, Crypto.com and Uniswap, among others, have also recently reported that the SEC had closed similar probes into their companies that were investigating alleged breaches of securities laws.Magazine: Bitcoin ATH sooner than expected? XRP may drop 40%, and more: Hodler’s Digest, March 23 – 29

by Amy Greenbank on April 2, 2025 at 5:25 am

America's renewed complaint with Australia about a saga involving a NSW mining company comes ahead of US President Donald Trump's pending announcement on tariffs.

by Sophie Johnson on April 2, 2025 at 5:22 am

As Western fast food chains expand their reach and disposable incomes rise, more people across Asia are shifting away from traditional diets.

by Cointelegraph by Brayden Lindrea on April 2, 2025 at 5:14 am

Two Republicans who received a combined $1.5 million from the crypto-backed political action committee (PAC) Fairshake will enter the US House after winning special elections in Florida.Republican Jimmy Patronis won the vacant seat in Florida’s 1st Congressional District to replace Matt Gaetz, taking 57% of the vote to defeat Democrat Gay Valimont, according to AP News data.Randy Fine also took Florida’s 6th Congressional District with 56.7% of the vote to beat his Democratic rival, public school teacher Josh Weil, and fill a seat left vacant by Mike Waltz, who took a job as White House national security adviser.Florida’s 1st and 6th Congressional Districts — located in Florida’s western panhandle and along the state’s northeast coast — have been controlled by Republicans for roughly 30 years, but their lead has narrowed in recent years.Fairshake, a PAC backed by crypto industry giants including Coinbase, Ripple and Andreessen Horowitz, gave Fine around $1.16 million in advertising spending and funneled $347,000 to Patronis to support his campaign.Both Republicans have expressed support for the crypto industry, with Fine stating in a Jan. 14 X post that “Floridians want crypto innovation!”Source: Randy FineFairshake and its affiliates poured around $170 million into the 2024 US presidential and congressional elections to back candidates who committed to supporting the crypto industry.The wins by Patronis and Fine increased Republican representation in the House to 220 seats, with the Democrats holding 213 seats.There are two vacant seats to be filled after Texas and Arizona Democrats Sylvester Turner and Raúl Grijalva died on March 5 and March 13, respectively.Florida can expect to see a crypto-friendly regulatory environment The victories for Patronis and Fine likely mean that crypto legislation will continue to see support in the US capital.The Republican Party would have maintained its House majority even if it lost both seats in Florida, but it would have made it more difficult for some of the recently introduced Republican-backed crypto bills to pass through the House and Senate.Related: Florida bill proposes strict rules against online gamblingAt the Digital Assets Summit on March 18, Democratic Congressman Ro Khanna said he believes Congress “should be able to get” both a stablecoin and crypto market structure bill done this year.Bills that could eventually make their way to the House include the Guiding and Establishing National Innovation for US Stablecoins (GENIUS) Act, which passed the Senate Banking Committee in an 18-6 vote on March 13. Senator Cynthia Lummis also reintroduced a Bitcoin reserve bill about a week after the Trump administration announced the establishment of a Strategic Bitcoin Reserve on March 6, with the legislation referred to the Senate Banking Committee on March 11. Magazine: Trump’s crypto ventures raise conflict of interest, insider trading questions

by Yiying Li on April 2, 2025 at 5:08 am

Several Australian universities have closed Confucius Institutes on their campuses, amid ongoing scrutiny about links to the Chinese government. Here is what we know.

by Jessica Shackleton on April 2, 2025 at 5:07 am

A class action launched by shareholders claims miner Mineral Resources breached its disclosure obligations around the time of an alleged tax scandal involving managing director Christopher Ellison.

by Tessa Flemming on April 2, 2025 at 4:56 am

The actor was best known for his roles in Top Gun, Tombstone, and Batman Forever but also earnt a reputation as a temperamental star. 

by Alexandria Utting on April 2, 2025 at 4:50 am

Smoke shops along the tourist strip have been forced to close in a city-wide crackdown by the public health unit. 

by Courtney Barrett Peters on April 2, 2025 at 4:48 am

ACT police say a trio of masked men orchestrated four targeted shootings in Canberra over a week, leaving one man with serious injuries and killing a pet dog.

by Floss Adams on April 2, 2025 at 4:17 am

A once dark secret in southern NSW is now being commemorated, and queer advocates want to see more education on its history.

by Hannah Story on April 2, 2025 at 4:10 am

A new study of more than 900 Australian artists and arts workers has found poor working conditions and pay are widespread throughout the industry.

by Ahmed Yussuf and Emilia Terzon on April 2, 2025 at 4:02 am

US President Donald Trump is set to unveil a new round of sweeping tariffs today. Here's which countries do the most trade with America, how they could be impacted and where Australia fits.

by Caroline Horn on April 2, 2025 at 3:51 am

Little penguin Pearl is so rare she is first of her type seen by an academic who has been studying her species for a decade.

on April 2, 2025 at 3:41 am

Logos will be banned from some Victorian public school uniform items in new rules to help families with the cost of living.

by Hannah Ross on April 2, 2025 at 3:33 am

Casey Gadaleta from Caboolture is "waiting to get back" to Ukraine, after losing a limb while fighting for the country's armed forces in February.

by Cointelegraph by Martin Young on April 2, 2025 at 3:31 am

Several British trade associations have asked Prime Minister Keir Starmer’s office to appoint a special envoy dedicated to crypto and for a dedicated action plan for digital assets and blockchain technology.In a March 31 letter, the coalition of six UK digital economy trade bodies urged Starmer’s special adviser on business and investment, Varun Chandra, for a “greater strategic focus and alignment to deliver investment, growth and jobs” for the crypto industry. The group, which consisted of the UK Cryptoasset Business Council, Global Digital Finance, The Payments Association, Digital Currencies Governance Group, the Crypto Council for Innovation and techUK, noted the US policy shift on crypto under President Donald Trump and his appointment of a crypto czar.Britain’s commitment to an economic trade deal focused on technological cooperation with the US “presents a significant opportunity to mirror the United States’ ambition in fostering leadership in blockchain, digital assets, and other emerging financial technologies,” the letter stated. The group recommended that the UK appoint a blockchain special envoy, similar to the US, to coordinate policy, foster innovation, and position the country competitively in global markets.The trade bodies also called for the development of a dedicated government action plan for crypto and blockchain technology, including a concierge service to attract high-potential firms.They added that the government should acknowledge and leverage the commonalities between blockchain, quantum computing and artificial intelligence technologies, including potential applications for government services.Another recommendation was to create a high-level industry-government-regulator engagement forum to ensure informed decision-making and cross-sector collaboration.The UK crypto and tech associations lobbying the government for a policy shift. Source: LinkedIn“With deep pools of talent, access to capital, world-class academic institutions, and sophisticated regulators, the UK provides an environment where digital assets and blockchain innovation can thrive,” they stated. Related: UK should tax crypto buyers to boost stock investing, economy, says bankerThe coalition argues that crypto and blockchain technology could boost the UK economy by 57 billion British pounds ($73.6 billion) over the next decade, with the sector potentially increasing global gross domestic product by 1.39 trillion pounds ($1.8 trillion) by 2030.Tom Griffiths, the co-founder and managing partner of crypto compliance advisory firm BitCompli, said in response to the letter on LinkedIn that the Financial Conduct Authority “has a lot of talent and a good sight of future plans, but the UK is definitely losing pace with Dubai, Singapore, and other EU jurisdictions.”“Now is the time for the FCA to act, or the UK will lose out on this huge opportunity, which is digital assets and all the benefits this sector can bring, not only now but over the next 20 years,” he added.Magazine: Bitcoin ATH sooner than expected? XRP may drop 40%, and more: Hodler’s Digest, March 23 – 29

by Isabella Higgins on April 2, 2025 at 3:22 am

Gen Z are more progressive than previous generations at the same age, with young women sitting furthest left on the political spectrum. 

by Brianna Morris-Grant on April 2, 2025 at 3:22 am

Australia's News Media Bargaining Code has been name-checked in the annual US Foreign Trade Barriers report, making it a target for Donald Trump's looming "liberation day" tariffs.

on April 2, 2025 at 2:59 am

The best place to put any extra money will depend on a few things, including how well you sleep at night when you have debt.  

by Jason Walls on April 2, 2025 at 2:51 am

Four former detainees who were tear gassed at Darwin's notorious Don Dale Youth Justice Centre in 2014 have had their $1 million compensation payout slashed on appeal.

by Samantha Dick on April 2, 2025 at 2:42 am

The opposition leader says he will take a razor to "wasteful government spending" on education, health and the ABC if elected.

by Lily Kristanto on April 2, 2025 at 2:41 am

A Maserati Quattroporte luxury sedan becomes an unlikely addition to the WA Police fleet after being seized from a repeat traffic offender and turned into a road safety promotional vehicle.

by Cointelegraph by Stephen Katte on April 2, 2025 at 2:36 am

Fraudulent tech workers with ties to North Korea are expanding their infiltration operations to blockchain firms outside the US after increased scrutiny from authorities, with some having worked their way into UK crypto projects, Google says.Google Threat Intelligence Group (GTIG) adviser Jamie Collier said in an April 2 report that while the US is still a key target, increased awareness and right-to-work verification challenges have forced North Korean IT workers to find roles at non-US companies.“In response to heightened awareness of the threat within the United States, they’ve established a global ecosystem of fraudulent personas to enhance operational agility,” Collier said. “Coupled with the discovery of facilitators in the UK, this suggests the rapid formation of a global infrastructure and support network that empowers their continued operations,” he added. Google's Threat Intelligence Group says North Korea's tech workers expanded their reach amid a US crackdown. Source: GoogleThe North Korea-linked workers are infiltrating projects spanning traditional web development and advanced blockchain applications, such as projects involving Solana and Anchor smart contract development, according to Collier. Another project building a blockchain job marketplace and an artificial intelligence web application leveraging blockchain technologies was also found to have North Korean workers. “These individuals pose as legitimate remote workers to infiltrate companies and generate revenue for the regime,” Collier said. “This places organizations that hire DPRK [Democratic People's Republic of Korea] IT workers at risk of espionage, data theft, and disruption.”North Korea looking to Europe for tech jobsAlong with the UK, Collier says the GTIG identified a notable focus on Europe, with one worker using at least 12 personas across Europe and others using resumes listing degrees from Belgrade University in Serbia and residences in Slovakia. Separate GTIG investigations found personas seeking employment in Germany and Portugal, login credentials for user accounts of European job websites, instructions for navigating European job sites, and a broker specializing in false passports.At the same time, since late October, the North Korean workers have increased the volume of extortion attempts and gone after larger organizations, which the GTIG speculates is the workers feeling pressure to maintain revenue streams amid a crackdown in the US. “In these incidents, recently fired IT workers threatened to release their former employers’ sensitive data or to provide it to a competitor. This data included proprietary data and source code for internal projects,” Collier said. Related: North Korean crypto attacks rising in sophistication, actors — ParadigmIn January, the US Justice Department indicted two North Korean nationals for their involvement in a fraudulent IT work scheme involving at least 64 US companies from April 2018 to August 2024.The US Treasury Department’s Office of Foreign Assets Control also sanctioned companies it accused of being fronts for North Korea that generated revenue via remote IT work schemes.Crypto founders have also been reporting an increase in activity from North Korean hackers, with at least three founders reporting on March 13 that they foiled attempts to steal sensitive data through fake Zoom calls.Having audio issues on your Zoom call? That's not a VC, it's North Korean hackers. Fortunately, this founder realized what was going on.The call starts with a few "VCs" on the call. They send messages in the chat saying they can't hear your audio, or suggesting there's an… pic.twitter.com/ZnW8Mtof4F— Nick Bax.eth (@bax1337) March 11, 2025In August, blockchain investigator ZachXBT claimed to have uncovered a sophisticated network of North Korean developers earning $500,000 a month working for “established” crypto projects.Magazine: Lazarus Group’s favorite exploit revealed — Crypto hacks analysis

by Chantelle Al-Khouri on April 2, 2025 at 2:35 am

Two metro staff members could be seen standing in front of the open carriage door to block passengers during the incident.

by Cointelegraph by Jody McDonald on April 2, 2025 at 2:25 am

Kentucky’s finance watchdog has dismissed its lawsuit against Coinbase over the exchange’s staking rewards program, following its peers in Vermont and South Carolina.Kentucky’s Department of Financial Institutions filed the stipulation to dismiss jointly with Coinbase on April 1, ending the state’s legal action against the exchange first filed along with 10 other state regulators in June 2023.Coinbase chief legal officer Paul Grewal posted to X on April 1, calling for Congress “to end this litigation-driven, state-by-state approach with a federal market structure law.”Source: Paul GrewalFinancial regulators from 10 states launched similar suits against Coinbase in June 2023, on the same day the Securities and Exchange Commission sued the exchange — a lawsuit the SEC dropped last month.Seven suits against Coinbase still activeAlabama, California, Illinois, Maryland, New Jersey, Washington and Wisconsin are the seven states that are still continuing with their lawsuits, which all allege Coinbase breached securities laws with its staking rewards program.Vermont was the first state to end its suit against Coinbase, with its Department of Financial Regulation filing an order to rescind the action on March 13, noting the SEC’s Feb. 27 decision to drop its action against the exchange and the likelihood of changes in the federal regulator’s guidance.The South Carolina Attorney General’s securities division followed Vermont days later, dismissing its lawsuit in a joint stipulation with Coinbase on March 27.Related: South Carolina dismisses its staking lawsuit against Coinbase, joining VermontKentucky’s decision to drop its case against Coinbase follows just days after the state’s governor, Andy Beshear, signed a “Bitcoin Rights” bill into law on March 24 that establishes protections for crypto self-custody and exempts crypto mining from money transmitting and securities laws.The axed state-level lawsuits come amid a stark policy change at the SEC, which has dropped or delayed multiple lawsuits against crypto companies that it filed under the Biden administration.The federal securities watchdog has also created a Crypto Task Force that is engaging with the industry on how it should approach cryptocurrencies.Magazine: SEC’s U-turn on crypto leaves key questions unanswered

by Cointelegraph by Marcel Pechman on April 1, 2025 at 11:25 pm

Despite Bitcoin’s 2.2% gains on April 1, BTC (BTC) hasn’t traded above $89,000 since March 7. Even though the recent price weakness is often linked to the escalating US-led global trade war, several factors had already been weighing on investor sentiment long before President Donald Trump announced the tariffs.Some market participants claimed that Strategy’s $5.25 billion worth of Bitcoin purchases since February is the primary reason BTC has held above the $80,000 support. But, regardless of who has been buying, the reality is that Bitcoin was already showing limited upside before President Trump announced the 10% Chinese import tariffs on Jan. 21.Gold/USD (left) vs. Bitcoin/USD (right). Source: TradingView / CointelegraphThe S&P 500 index hit an all-time high on Feb. 19, exactly 30 days after the trade war began, while Bitcoin had repeatedly failed to hold above $100,000 for the previous three months. Although the trade war certainly affected investor risk appetite, strong evidence suggests Bitcoin's price weakness started well before President Trump took office on Jan. 20.Spot Bitcoin ETFs inflows, strategic Bitcoin reserve expectations and inflationary trendsAnother data point that weakens the relation with tariffs is the spot Bitcoin exchange-traded funds (ETFs), which saw $2.75 billion in net inflows during the three weeks following Jan. 21. By Feb. 18, the US had announced plans to impose tariffs on imports from Canada and Mexico, while the European Union and China had already retaliated. In essence, institutional demand for Bitcoin persisted even as the trade war escalated.Part of Bitcoin traders’ disappointment after Jan. 21 stems from excessive expectations surrounding President Trump’s campaign promise of a “strategic national Bitcoin stockpile,” mentioned at the Bitcoin Conference in July 2024. As investors grew impatient, their frustration peaked when the actual executive order was issued on March 6.A key factor behind Bitcoin’s struggle to break above $89,000 is an inflationary trend, reflecting a relatively successful strategy by global central banks. In February, the US Personal Consumption Expenditures (PCE) Price Index rose 2.5% year-over-year, while the eurozone Consumer Price Index (CPI) increased by 2.2% in March.Investors turn more risk-averse following weak job market dataIn the second half of 2022, Bitcoin’s gains were driven by inflation soaring above 5%, suggesting that businesses and families turned to cryptocurrency as a hedge against monetary debasement. However, if inflation remains relatively under control in 2025, lower interest rates would favor real estate and stock markets more directly than Bitcoin, as reduced financing costs boost those sectors.US CPI inflation (left) vs. US 2-year Treasury yield (right). Source: TradingViewRelated: Coinbase sees worst quarter since FTX collapse amid industry bloodbathThe weakening job market also dampens traders’ demand for risk-on assets, including Bitcoin. In February, the US Labor Department reported job openings near a four-year low. Similarly, yields on the US 2-year Treasury fell to a six-month low, with investors accepting a modest 3.88% return for the safety of government-backed instruments. This data suggests a rising choice for risk aversion, which is unfavorable for Bitcoin.Ultimately, Bitcoin’s price weakness stems from investors' unrealistic expectations of BTC acquisitions by the US Treasury, declining inflation supporting potential interest rate cuts, and a more risk-averse macroeconomic environment as investors turn to short-term government bonds. While the trade war has had negative effects, Bitcoin was already showing signs of weakness before it began.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 Sundance on April 1, 2025 at 11:01 pm

At today’s House Judiciary Committee hearing, former Speaker Newt Gingrich spoke about judicial overreach in lower federal courts blocking President Trump’s actions.  WATCH: . Now, to the stuff that really matters.  Congress wants to vote from home. Posted in Uncategorized The post Former Speaker Gingrich Outlines Judicial Coup D’etat to Congress appeared first on The Last Refuge.

by Sundance on April 1, 2025 at 10:21 pm

Wall Street, the Bankers, the Hedge Funds, the multinational corporations, K-Street Lobbying firms, Democrats, Republicans, leftists, globalists, and every other segment of the financial media who define themselves through the prism of their bank accounts, need someone else to blame for the Trump tariffs; because Trump doesn’t care. It looks like the professional political class The post Looks Like Wall Street and GOPe Has Picked Commerce Secretary Howard Lutnick to Attack for Tariffs They Hate appeared first on The Last Refuge.

by Cointelegraph by Cointelegraph on April 1, 2025 at 10:02 pm

Today in crypto, stablecoin issuer Circle filed to go public in the US, Ethereum's revenue from blob storage sinks to its lowest level of 2025 and Binance halts select Tether (USDt) spot trading pairs in the European Economic Area.Circle files for Initial Public Offering planned for AprilUSDC (USDC) stablecoin issuer Circle Internet Group filed with the US Securities and Exchange Commission on April 1 to go public later this month on the New York Stock Exchange under the ticker “CRCL.”Its Form S-1 registration statement didn’t detail the number of shares it would offer or what its initial public offering target price would be, but it did shed some light on the firm’s financials.The filing shows Circle’s revenue last year was $1.67 billion in revenue for 2024, a 16% year-on-year bump, while its 2024 net income was $155.6 million — a 41.8% fall from 2023.Circle’s financials over the last three years ended Dec. 31. Source: SECOver 99% of Circle’s revenue in 2024 came from its stablecoin reserves. The company issues the second-largest stablecoin by market cap behind only Tether (USDT) and generates part of its income by holding yield-bearing Treasury bills.Circle attempted to go public via a Special Purpose Acquisition Company (SPAC) merger in 2021— which it abandoned in December 2022 — and again in January 2024 via a confidential filing with the SEC.Ethereum's weekly blob fees hit 2025 lowsThe Ethereum network’s main source of income from layer-2 (L2) scaling chains — “blob fees” — has sunk to the lowest weekly levels so far this year, according to data from Etherscan. In the week ending March 30, Ethereum earned only 3.18 Ether (ETH) from blob fees, according to Etherscan, or approximately $6,000 US dollars as of April 1. This figure marks a 73% drop from the prior week and a more than 95% decline from the week ending March 16, when Ethereum’s income from blob fees exceeded 84 ETH, Etherscan said in an X post. Ethereum’s blob fee income has been uneven. Source: Dune AnalyticsIn March 2024, Ethereum’s Dencun upgrade migrated L2 transaction data to temporary offchain stores called “blobs.” The upgrade cut costs for users but also reduced overall fee revenue for Ethereum — initially by as much as 95%, according to data from asset manager VanEck.Since then, growth in blob fees has been unsteady. Ethereum’s weekly blob fee income peaked at nearly $1 million in November before declining sharply in recent weeks, according to data from Dune Analytics. Binance ends Tether USDT trading in Europe to comply with MiCA rulesBinance has discontinued spot trading pairs with Tether’s USDt in the EEA to comply with MiCA.Cryptocurrency exchange Binance has delisted spot trading pairs with several non-MiCA-compliant tokens in the EEA in line with a plan disclosed in early March, Cointelegraph has learned.While spot trading pairs in tokens such as USDt (USDT) are now delisted on Binance, users in the EEA can still custody the affected tokens and trade them in perpetual contracts.USDT is available for perpetual trading on Binance. Source: BinanceAccording to a previous announcement by Binance, the spot trading pairs for non-MiCA-compliant tokens were to be delisted by March 31, which is in line with a local requirement to delist such tokens by the end of the first quarter of 2025.Binance is not the only crypto exchange delisting non-MiCA-compliant tokens for spot trading in the EEA.Other exchanges, such as Kraken, have delisted spot trading pairs in tokens such as USDT in the EEA after announcing plans in February.According to a notice on the Kraken website, the exchange restricted USDT for sell-only mode in the EEA on March 24. At the time of writing, the platform doesn’t allow its EEA users to buy the affected tokens.Kraken restricted USDT to sell-only mode in the EEA on March 24. Source: KrakenAmong other non-MiCA-compliant tokens, Binance has also delisted spot trading pairs for Dai (DAI), First Digital USD (FDUSD), TrueUSD (TUSD), Pax Dollar (USDP), Anchored Euro (AEUR), TerraUSD (UST), TerraClassicUSD (USTC) and PAX Gold (PAXG).

by Cointelegraph by Christopher Tepedino on April 1, 2025 at 9:52 pm

Crypto exchange Backpack has initiated the first phase of the claims process for former FTX users in Europe.According to an April 1 announcement, users will need to create an account on the exchange, submit Know Your Customer information, and connect it to their FTX EU claim account.Backpack has not set a deadline for this phase of the claims process and has yet to provide a timeline for when distributions will begin. Users will face a withdrawal fee of €5 ($5.39) for claims under €2,000 ($2,158) and 0.25% for amounts above it.Source: Armani FerranteBackpack acquired FTX EU in January 2025 to offer crypto derivatives, including perpetual futures, throughout Europe. The acquisition marked the end of a lengthy battle to buy the European arm of the bankrupt exchange. Backpack CEO Armani Ferrante said at the time of the acquisition that the company was committed to returning FTX EU funds as fast and as safely as possible.FTX creditor activist Sunil Kavuri told Cointelegraph in January 2025 that the sale of FTX EU to Backpack added “further confusion and nervousness among FTX EU customers and the repayment of their funds.”“Some FTX EU customers signed up to these distributors, and they are confused about who will be distributing their funds back to them — Backpack, Kraken or Bitgo,” Kavuri said at the time.Related: FTX’s 2-year repayment delay is a ‘win,’ claims trader who predicted FTX’s collapseDetails on the first part of the claims processFor distribution amounts, the FAQ page on Backpack’s website states that all positions were closed using market prices at the time the exchange was shut down, and each was settled in euros.Furthermore, users with pending cryptocurrency withdrawals on Nov. 11, 2022, should have filed a claim in FTX’s US bankruptcy proceedings. Such users may be eligible to receive distributions from the FTX Recovery Trust, which Backpack is not involved with.Additionally, EU residents who signed up for FTX before March 7, 2022, are not considered FTX EU customers and should file their claims with FTX International, not Backpack.FTX Estate’s next round of distributions on May 30FTX Digital Markets, separate from FTX EU, distributed its first round of reimbursements on Feb. 18, with exchanges BitGo and Kraken facilitating the distributions. That first round of reimbursements went to “Convenience Class” members, those with claims under $50,000. The next round of reimbursements tied to FTX’s US bankruptcy proceedings is set to go out on May 30 and includes creditors under Class 5 Customer Entitlement Claims and Class 6 General Unsecured Claims. FTX is expected to use $11.4 billion to make the paymentsMagazine: The $2,500 doco about FTX collapse on Amazon Prime… with help from mom

by Cointelegraph by Turner Wright on April 1, 2025 at 9:47 pm

Texas Senator Ted Cruz proposed a bill aimed at incentivizing crypto miners to use flared gas for energy generation in the state.In an April 1 notice, Cruz said he had introduced the Facilitate Lower Atmospheric Released Emissions, or FLARE, Act in the US Senate, aiming to make Texas “the number one place for Bitcoin mining.” Mining advocacy group Digital Power Network supported the bill, and Bitcoin (BTC) miner MARA Holdings endorsed the proposed legislation on X, claiming it would reduce emissions and “unlock stranded energy.”April 1 draft of FLARE Act. Source: Ted CruzAccording to the text of the bill, the FLARE Act proposed amending the US Internal Revenue Code to incentivize market participants — including digital asset miners — to “capture gas that would otherwise be flared or vented and to use such gas in value-added products.” If signed into law, the legislation would take effect on properties put into service starting in 2026.Related: Bitcoin mining using coal energy down 43% since 2011 — ReportA US senator serving since 2013, Cruz, a Republican, has sometimes proposed legislation that aligns with mainstream figures in his party, including US President Donald Trump. He introduced a bill in March to prohibit the Federal Reserve from issuing a central bank digital currency (CBDC) and disclosed personally holding up to $100,000 in Bitcoin as of August 2024.Crypto bills moving through US CongressIn addition to the energy incentives proposed in the bill, Cruz ​​said the language “prohibits entities owned by China, Iran, North Korea, or Russia” that may be operating in Texas from recovering their costs in the same manner. Many US miners, including MARA, Riot Platforms and CleanSpark, operate in the state.It’s unclear whether Cruz’s bill will be a legislative priority in the Senate as Congress considers bills to regulate stablecoins and establish a market structure for digital assets in the US. Some lawmakers have also proposed legislation potentially banning a US CBDC and removing regulatory obstacles to allow Americans to invest in crypto for their retirement plans.Magazine: Ex-Alameda hire on ‘pressure’ to not blow up Backpack exchange: Armani Ferrante, X Hall of Flame

by Cointelegraph by Brayden Lindrea on April 1, 2025 at 9:38 pm

Crypto stablecoin issuer Circle Internet Group has filed with the US Securities and Exchange Commission to go public on the New York Stock Exchange.The USDC (USDC) issuer is planning to list its Class A common stock under the symbol “CRCL,” according to its April 1 Form S-1 registration statement with the SEC.Circle’s prospectus does not detail the number of shares to be offered or what its initial public offering target price will be.The filing also showed that Circle brought in $1.67 billion in revenue for 2024, a 16% year-on-year increase.Its net income last year was $155.6 million — a 41.8% fall from 2023, while 2022 saw a net loss of $761.7 million.Circle’s financials over the last three years ended Dec. 31. Source: SECThe filing also showed that Circle paid nearly $908 million in 2024 to its main distribution partner, Coinbase, to circulate USDC on its crypto exchange.The hefty cost means Coinbase is making more money off USDC than Circle, Agora CEO Nick van Eck noted.The high costs partly explain why Circle’s revenue increased while its EBITDA, earnings before interest, taxes, depreciation, and amortization, and net income fell in 2024, said VanEck head of digital asset research, Matthew Sigel.Over 99% of Circle’s revenue last year came from its stablecoin reserves, the filing showed. The company generates part of its income by holding yield-bearing Treasury bills.Circle also holds $6.2 million worth of Bitcoin (BTC), $5.6 million in Sui (SUI) and over $3.3 million in Ether (ETH), while also holding Sei (SEI), Aptos (APT) and Optimism (OP).The firm has previously attempted to go public via a Special Purpose Acquisition Company (SPAC) merger in 2021— which it abandoned in December 2022 — and again in January 2024 via a confidential filing with the SEC.Related: Circle, Intercontinental Exchange to explore stablecoin integrationCrypto exchange Kraken and blockchain security firm BitGo are among the other industry players also reportedly seeking a public listing either this year or early 2026.Circle became the first stablecoin issuer to receive regulatory approval in Japan on March 25 — launching USDC on the SBI VC Trade crypto exchange the following day.USDC is the second-largest stablecoin by market cap at $60.1 billion, trailing only Tether (USDT) at $143.9 billion, CoinGecko data shows.Magazine: Unstablecoins: Depegging, bank runs and other risks loom

by Cointelegraph by Alex O’Donnell on April 1, 2025 at 9:37 pm

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

by Cointelegraph by Alex O’Donnell on April 1, 2025 at 8:30 pm

The Ethereum network’s main source of income from layer-2 (L2) scaling chains — “blob fees” — has sunk to the lowest weekly levels so far this year, according to data from Etherscan. In the week ending March 30, Ethereum earned only 3.18 Ether (ETH) from blob fees, according to Etherscan, or approximately $6,000 US dollars as of April 1. This figure marks a 73% drop from the prior week and a more than 95% decline from the week ending March 16, when Ethereum’s income from blob fees exceeded 84 ETH, Etherscan said in an X post. Source: EtherscanRelated: Ethereum fees poised for rebound amid L2, blob uptickPost-Dencun growing painsIn March 2024, Ethereum’s Dencun upgrade migrated L2 transaction data to temporary offchain stores called “blobs.”The upgrade cut costs for users but also reduced overall fee revenue for Ethereum — initially by as much as 95%, according to data from asset manager VanEck.“ETH Fees Were Weak Due to Lack of Blob Revenues as L2s Have Not Filled Available Capacity,” Matthew Sigel, VanEck’s head of digital asset research, said in a Nov. 1, 2024, post on the X platform.Since then, growth in blob fees has been unsteady. Ethereum’s weekly blob fee income peaked at nearly $1 million in November before declining sharply in recent weeks, according to data from Dune Analytics. Ethereum’s blob fee income has been uneven. Source: Dune AnalyticsEthereum’s ongoing struggle to earn meaningful income from blob fees underscores concerns about the network’s scaling model, which relies heavily on L2s for transaction throughput.“Ethereum’s future will revolve around how effectively it serves as a data availability engine for L2s,” arndxt, author of the Threading on the Edge newsletter, said in a March 31 X post. According to an X post by Michael Nadeau, founder of The DeFi Report, L2 transaction volumes would need to increase more than 22,000-fold for blob fees to fully offset Ethereum’s peak transaction fee revenues. However, Ethereum’s economics are still evolving. For instance, the network’s Pectra Upgrade — which aims to significantly change how Ethereum allocates blob space — is scheduled for this year. “The plan is simple: scale Ethereum as much as possible to capture as much marketshare as we can - worry about fee revenue later,” Sassal, founder of The Daily Gwei, said in a March 17 X post. Magazine: AI agents trading crypto is a hot narrative, but beware of rookie mistakes

by Cointelegraph by Vince Quill on April 1, 2025 at 8:01 pm

APX Lending, a crypto-backed loan company, has gained exemptive relief from the Canadian Securities Administration (CSA) to offer crypto-backed loans without requiring traditional dealer registration or prospectus filings.“Over the last 2 years, APX developed a regulatory framework in collaboration with the Ontario Securities Commission (OSC) to facilitate this, as no such framework previously existed in Canada,” a spokesperson for APX told Cointelegraph. “This exemption is specific to APX and does not establish a precedent for other companies.”The platform currently supports Bitcoin (BTC) and Ether (ETH) as backing collateral for loans in Canadian or US dollars. APX plans to add more digital assets and fiat currencies options in the near future.The company claims to be expanding its reach to the United States, with future expansions planned for Australia and New Zealand pending regulatory approval. Andrei Poliakov, founder and CEO of APX Lending, said in a statement:“By engaging with Canadian regulators and leading the way in Canada, we are setting a new benchmark for compliance and security in crypto-backed lending, helping retail and institutional borrowers unlock liquidity while maintaining ownership of their digital assets."APX loans range from 20%-60% loan-to-value (LTV), with an automated liquidation mechanism triggered at 90% if no corrective action is taken by the borrower to top up collateral or partially repay the loan when LTV reaches the 80% warning level and they are notified of the potential liquidation.Loan terms range from three months to five years, reflecting the comparatively flexible structure of crypto-backed lending versus the more rigid and often less accessible options found in traditional financial systems.APX Lending is registered with the Financial Transactions and Reports Analysis Centre of Canada (FINTRAC). Its key competitors in the local market include Ledn, Nexo, and YouHodler, among others.APX Lending founder and CEO Andrei Poliakov onstage at the Blockchain Futurist Conference in 2024. Source: Blockchain Futurist ConferenceRelated: What Canada’s new Liberal PM Mark Carney means for cryptoCanada’s shifting political landscape could spell trouble for crypto regulationsRecently elected Canadian Prime Minister Mark Carney is a former central banker who once criticized Bitcoin for being supply-capped, calling the 21 million maximum supply a “serious deficiency.”In a speech to the Scottish Economics Conference at Edinburgh University in March 2018, Carney said: “Recreating a virtual global gold standard would be a criminal act of monetary amnesia.”Carney’s critical view of Bitcoin and cryptocurrencies may influence the direction of regulation in Canada and raise uncertainty about the future of the country’s crypto industry.However, Carney’s 2025 platform outlined goals to make Canada a global leader in emerging technologies such as artificial intelligence and “digital industries” amid increasing geopolitical competition and trade tensions with the United States.Magazine: Home loans using crypto as collateral: Do the risks outweigh the reward?

by Cointelegraph by Turner Wright on April 1, 2025 at 7:39 pm

Kristin Smith, CEO of the US-based Blockchain Association, will be leaving the cryptocurrency advocacy group for the recently launched Solana Policy Institute.In an April 1 notice, the Blockchain Association (BA) said Smith would be stepping down from her role as CEO on May 16. According to the association, the soon-to-be former CEO will become president of the Solana Policy Institute on May 19.The association’s notice did not provide an apparent reason for the move to the Solana advocacy organization nor say who would lead the group after Smith’s departure. Cointelegraph reached out to the Blockchain Association for comment but did not receive a response at the time of publication.Blockchain Association CEO Kristin Smith’s April 1 announcement. Source: LinkedInSmith, who has worked at the BA since 2018 and was deputy chief of staff for former Montana Representative Denny Rehberg, will follow DeFi Education Fund CEO Miller Whitehouse-Levine, leaving his position to join the Solana Policy Institute as CEO. According to Whitehouse-Levine, the organization plans to educate US policymakers on Solana.Related: Congress on track for stablecoin, market structure bills by August: Blockchain AssociationWith members from the crypto industry, including Coinbase, Ripple Labs, and Chainlink Labs, the BA has filed a lawsuit against the US Internal Revenue Service, challenging regulations requiring brokers to report crypto transactions. The group often criticized the US Securities and Exchange Commission under former chair Gary Gensler for its “regulation by enforcement” approach to crypto, resulting in steep legal fees for many companies.Less than 48 hours after the Solana Policy Institute’s launch, it’s unclear what the group’s immediate goals may be for engaging with US lawmakers and advocating for the industry. The organization described itself as a non-partisan nonprofit group.Magazine: Solana ‘will be a trillion-dollar asset’: Mert Mumtaz, X Hall of Flame

by Cointelegraph by Biraajmaan Tamuly on April 1, 2025 at 7:23 pm

Ethereum’s native token, Ether (ETH), registered four consecutive red monthly candles after the altcoin dropped 18.47% in March. The altcoin’s current market structure reflects a sustained bearish trend not seen since the bear market of 2022. With each monthly close taking place below the previous month’s low, analysts are beginning the debate about whether ETH is approaching a bottom or if there is more downside ahead for the altcoin. Ethereum/Bitcoin ratio hits new 5-year lowOn March 30, the Ethereum/Bitcoin ratio dropped to a five-year low of 0.021. The ETH/BTC ratio measures ETH’s value against Bitcoin (BTC), and the current decline underlines Ether’s underperformance against Bitcoin over the past five years. In fact, the last time the ETH/BTC ratio dipped to 0.021, ETH was valued between $150-$300 in May 2020. Ethereum/Bitcoin 1-month chart. Source: Cointelegraph/TradingViewData from the token terminal showed Ethereum’s monthly fees dropped to $22 million in March 20205, its lowest level since June 2020, indicating low network activity and market interest. Ethereum fees represent the cost users pay for transactions, which is influenced by network demand. When network fees begin to drop, it indicates reduced network utility. Ethereum fees and price. Source: token terminalDespite the price action and revenue malaise, Ethereum analyst VentureFounder said that the ETH/BTC bottom could occur over the next few weeks. The analyst hinted at a potential bottom between 0.017 and 0.022, suggesting that the ratio might drop further before a recovery. The analyst said, “Maybe another lower low RSI and one more push downward lots of similarity with 2018-2019 Fed tightening & QE cycle, expecting the first higher high after May FOMC when Fed ends QT & begin QE.”Ethereum/Bitcoin analysis by venture founder. Source: X.comRelated: Ethereum price down almost 50% since Eric Trump's 'add ETH' endorsementHistorical odds favor a short-term bottomSince its inception, ETH has registered three or more consecutive bearish monthly candles on five occasions, and each time, a short-term bottom was the result. The chart below shows that the most back-to-back red months occurred in 2018, with seven, but prices jumped 83% after the correction. Ethereum monthly chart. Source: Cointelegraph/TradingViewIn 2022, after three consecutive bearish months, ETH price consolidated in a range for almost a year, but the bottom was in on the third bearish candle in June 2022. Historically, Ethereum has a 75% probability of having a green month in April. Based on Ethereum’s past quarterly returns, the altcoin experienced the least number of drawdowns in Q2 compared to other quarters. With the average returns in Q2 as high as 60.59%, the likelihood of positive returns in April. Ethereum Quarterly returns. Source: CoinGlassRelated: Why is Ethereum (ETH) price up today?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 Christopher Tepedino on April 1, 2025 at 7:04 pm

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

by Cointelegraph by Turner Wright on April 1, 2025 at 5:02 pm

For the second time, Alabama Senator Tommy Tuberville is set to reintroduce a bill aimed at allowing Americans to add cryptocurrency to their retirement savings plans.In a March 31 Fox News interview, Tuberville said he planned to reintroduce his “Financial Freedoms Act” legislation after two failed attempts to get the legislation through Congress in 2022 and 2023. In announcing the bill, the Alabama senator said he wanted to help US President Donald Trump’s perceived role as a “crypto president.” “Give people a chance to breathe for once [...] let them do what they do best [which] is invest their money,” said the senator. The Financial Freedom Act, which Tuberville first introduced in the US Senate in May 2022, proposed scaling back regulations with the Department of Labor over the types of investments used in 401(k) retirement plan fiduciaries. The senator said he would reintroduce the bill on April 1, but congressional records showed no movement at the time of publication.Related: Trump-linked crypto ventures may complicate US stablecoin policyWyoming Senator Cynthia Lummis was a cosponsor of the 2023 bill, but at the time of publication, it was unclear whether she intended to support it again. In a 2022 interview, the Republican senator said she was “very comfortable with making sure that people can include Bitcoin in their retirement funds.”Crypto legislation in the 119th session of CongressThe crypto retirement bill came as members of the Republican-controlled Congress considered legislation to establish market structure rules for the industry and stablecoin regulations. Proponents of the legislation have suggested that lawmakers get the bills to Trump’s desk to sign into law before the August recess. After that time, they could become more politically charged issues. On April 1, Florida voters will decide on their House representatives in the state’s 1st and 6th congressional districts. Republicans Jimmy Patronis and Randy Fine have support from the crypto industry through media buys financed by the Defend American Jobs political action committee. As of March 22, the PAC has spent roughly $1.5 million to support the two candidates.Magazine: Trump’s crypto ventures raise conflict of interest, insider trading questions

by Cointelegraph by Alex O’Donnell on April 1, 2025 at 4:11 pm

Asset manager Grayscale has filed to list an exchange-traded fund (ETF) holding a diverse basket of spot cryptocurrencies, US regulatory filings show.On April 1, Grayscale submitted an S-3 regulatory filing to the US Securities and Exchange Commission (SEC), which is required to convert the non-listed fund to an ETF. The Grayscale Digital Large Cap Fund, which was created in 2018 but is not yet exchange-traded, holds a crypto index portfolio comprising Bitcoin (BTC), Ether (ETH), Solana (SOL), XRP (XRP) and Cardano (ADA). As of April 1, the fund has more than $600 million in assets under management (AUM) and is only available to accredited investors (entities or individuals with high net worth), according to Grayscale’s website.The filing follows an Oct. 29 request by NYSE Arca, a US securities exchange, for permission to list the Grayscale index fund. Grayscale’s digital large cap fund holds a diverse basket of digital assets. Source: GrayscaleRelated: US crypto index ETFs off to slow start in first days since listingIndex ETFs in focusThe filing underscores how ETF issuers are accelerating planned crypto product launches now that US President Donald Trump has led federal regulators to a softer stance on digital asset regulation. In December, the SEC greenlighted the first batch of mixed crypto index ETFs. However, the funds — sponsored by Hashdex and Fidelity — hold only Bitcoin and Ether. They have seen relatively modest inflows since debuting in February.  In February, the SEC acknowledged more than a dozen exchange filings related to cryptocurrency ETFs, according to records. The filings address issues such as staking and options for existing funds as well as new fund proposals for altcoins such as SOL and XRP. According to industry analysts, crypto index ETFs are a main focus for Wall Street's issuers after ETFs holding BTC and ETH debuted last year. “The next logical step is index ETFs because indices are efficient for investors — just like how people buy the S&P 500 in an ETF. This will be the same in crypto,” Katalin Tischhauser, head of investment research at crypto bank Sygnum, told Cointelegraph in August.Magazine: How crypto laws are changing across the world in 2025

by Cointelegraph by William Suberg on April 1, 2025 at 3:40 pm

Bitcoin (BTC) repeated earlier volatility at the April 1 Wall Street open as US trade tariff talk kept markets nervous.BTC/USD 1-hour chart. Source: Cointelegraph/TradingViewBitcoin stays erratic ahead of crunch tariffsData from Cointelegraph Markets Pro and TradingView showed BTC/USD making rapid moves within its weekly trading range of around $83,000.US stocks ticked lower at the open, while gold came off fresh all-time highs of $3,149 per ounce.Talk of recession began to return to the spotlight ahead of US President Donald Trump’s so-called “Liberation Day,” due on April 2 and on which he promised to unveil a new round of trade tariffs.“Equity markets are clearly pricing-in a recession: The S&P 500 is down -2% since Fed rate cuts began in September 2024,” trading resource The Kobeissi Letter wrote in part of an X thread on the topic.Kobeissi referred to the Federal Reserve easing of financial policy in the form of interest rate cuts — something now on pause but which markets see resuming in June, per data from CME Group’s FedWatch Tool.Fed target rate probabilities for June 18 FOMC meeting. Source: CME GroupWhile this would be a clear bullish catalyst for crypto and risk assets, Kobeissi noted that history had not favored strong equities rebounds under similar circumstances.“In the case of rate cuts during a recession, the S&P 500 declined -6% in 6 months -10% within 12 months,” it continued.“The AVERAGE post-pivot return is +1% in 6 months.”S&P 500 performance comparison. Source: The Kobeissi Letter/XTrading firm QCP Capital was similarly cautious about the overall market landscape thanks to macroeconomic forces.“With consumer confidence plumbing 12-year lows and equity markets already rattled by a 4-5% weekly drawdown, the timing couldn't be worse,” it wrote about tariffs in its latest bulletin to Telegram channel subscribers. “There is a real risk that a broad and aggressive regime could deepen recession fears and send risk assets spiraling. That said, political theatre often leaves room for recalibration. A softer-than-expected rollout could offer markets a brief reprieve.”BTC price action heads to key resistanceBTC price action thus left market observers keen for stronger signals over momentum, even as fundamental support at $80,000 held firm.Related: Bitcoin sellers 'dry up' as weekly exchange inflows near 2-year low“Some upside momentum today, but it’s still just a 3-wave move, and resistance is holding strong,” trading channel More Crypto Online summarized about an Elliott Wave schematic for the 30-minute chart, adding that “the rally’s got more to prove.”BTC/USD 30-minute chart. Source: More Crypto Online/XPopular trader Jelle noted BTC/USD respecting the 50-week simple moving average (SMA), currently at $76,600, as support.Bitcoin, he hoped, would reclaim $84,500 as its next leg up, having rejected there earlier in the day.BTC/USD 1-week chart with 50SMA. Source: Cointelegraph/TradingViewQCP meanwhile shared positive news from investors eyeing possible higher levels to come next.“On our desk, activity was skewed bullish into Asia open,” it reported. “Buyers were seen taking topside exposure ($85k-$90k strikes) and selling downside risk ($75k strikes), a potential bet on a firmer start to Q2.”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 Helen Partz on April 1, 2025 at 3:06 pm

A number of altcoins and memecoins saw a sharp sell-off on April Fools’ Day, April 1, with some tokens, including Act I The AI Prophecy, dropping nearly 60% in minutes.Act I The AI Prophecy (ACT), a token associated with the eponymous project focused on artificial intelligence, plunged 58% from $0.19 to $0.08 in less than an hour on April 1, with its market cap shedding $96 million, according to data from CoinMarketCap.The sharp drop of ACT came along with notable red action in the altcoin market, with memecoins like sudeng (HIPPO), CZ’S Dog (BROCCOLI), Kishu Inu (KISHU), DeXe (DEXE), dForce (DF) and more seeing significant price declines.Cryptocurrency market at a glance. Source: Coin360The broader crypto market hasn’t reacted negatively to panic in altcoin markets, with major cryptocurrencies like Bitcoin (BTC) remaining green at the time of writing.Act I “fully aware of the situation” The massive drop in the ACT token has not gone unnoticed on social media, with Act I taking to X to assure its community that the project is fully aware of the current situation.“Our team is actively investigating and working collaboratively with all relevant parties to address this matter,” Act I wrote, adding that it also started developing a “response plan” with its trusted partners.Source: Act I The AI ProphecySome crypto commentators linked the sudden price movement to a margin update by Binance.Binance’s leverage update triggers a $3.8 million whale liquidationAccording to data from the blockchain analytics tool Lookonchain, Binance’s update of leverage and margin tiers on tokens like ACT on April 1 has triggered some massive liquidations among whales.“Binance updated leverage and margin tiers on tokens like ACT — and a whale got liquidated for $3.79M at $0.1877,” Lookonchain said in an X post.Source: LookonchainAccording to a blog post by Binance, its derivatives platform, Binance Futures, updated to leverage and margin tiers for pairs such as ACT versus Tether USDt (USDT) at 10:30 UTC.Related: Listing an altcoin traps exchanges on ‘forever hamster wheel’ — River CEOThe update affected existing positions opened before the update, potentially leading to some position expirations, Binance noted.Speculation over Wintermute sellingThe altcoin bleeding came amid community speculation surrounding selling by the global algorithmic trading firm Wintermute, which reportedly liquidated multiple altcoin positions on April 1.Some market observers even suggested that the selling was due to a hack, while many expressed confusion over possible reasons for the selling’s root cause.“MMs don’t just nuke their own books for fun. Either it’s a hack, insolvency, or someone is getting margin called hard,” DEFI Kadic commented.Some also speculated about Wintermute interacting with the USD1 stablecoin by Donald Trump-linked World Liberty Financial.Source: Daniele (Degen Arc)“That being a major deal for them, they are derisking all assets that might be non-compliant or non-matching the new brand direction they are taking of an institutional player,” the X user claimed.Wintermute co-founder and CEO Evgeny Gaevoy denied the company’s involvement in the altcoin massacre on April 1 in a social media exchange with X user ilikeblocks.“Not us [for what it's worth], but also curious about that post mortem,” Gaevoy wrote.Source: ilikeblocks and Wintermute co-founder and CEO Evgeny Gaevoy (wishfulcynic)Ilikeblocks later posted to express regret for their initial allegation about Wintermute.“They’re making markets better for all of us and in comparison to their competition they’re really not that shady,” they added.Cointelegraph approached Wintermute for comment regarding the market action but did not receive a response by the time of publication.Magazine: Memecoins are ded — But Solana ‘100x better’ despite revenue plunge

by Cointelegraph by Michael Tabone on April 1, 2025 at 3:00 pm

Opinion by: Dr. Michael Tabone, senior economist for CointelegraphBitcoin (BTC) has long been hailed as unbreakable and untouchable, a digital stronghold against the forces of change. Bitcoin’s bedrock of security is facing its first true test with quantum computing, which should be addressed sooner rather than later. Its cryptographic armor will crack if not addressed, forcing the network to adapt or perish.Bitcoin’s node count is growing, but incentives are still absentBitcoin’s full node network has grown over time, a sign of increasing adoption and a more robust infrastructure, but the core issue remains. The voluntary act of running a node still has no financial incentive. Miners earn rewards for securing the network, yet full node operators get nothing for their role in keeping Bitcoin decentralized.At the same time, a significant portion of these nodes are run by exchanges, custodians and large mining pools. These are centralized entities with financial incentives to maintain control. Suppose Bitcoin’s node network continues to expand without proper incentives. In that case, the risk remains that validation will become increasingly dependent on a few well-funded players rather than a truly distributed base of individual users (see Figure 1).FBitcoin node operation has increased by only 15,605 in 8 years. Source: Bitnodes.io All of this comes as running a Bitcoin node has never been easier. Plug-and-play solutions like Umbrel, Start9, RaspiBlitz, Cubit and Ronin Dojo allow anyone to set up a full node on low-cost hardware with minimal technical knowledge. These tools have lowered the barrier to entry, making node operation more accessible than ever before.Yet adoption remains stagnant. Despite the ease of setup, most Bitcoin users still do not run their own nodes. The reason is simple: There is no financial incentive to do so.Recent: Decentralization is in danger — We can fix itUnlike miners, who earn block subsidies and transaction fees for securing the network, full node operators receive nothing. They validate transactions, enforce consensus rules, and contribute to Bitcoin’s decentralization, yet their efforts go unrewarded. As a result, node operation remains an ideological commitment rather than an economically viable activity.If Bitcoin must be forked, we must use it to strengthen decentralizationCritics of the proposal argue that Bitcoin’s monetary policy should remain untouched. Others warn that introducing full node incentives could lead to Sybil attacks, where bad actors spin up thousands of fake nodes to exploit rewards. These concerns are valid — but they ignore the larger reality.Bitcoin is on the path toward a forced consensus change. The honest debate is not whether Bitcoin should change but whether we will use this moment to strengthen it. If full Bitcoin node incentives are implemented correctly, they could drive a surge in node adoption, strengthening the network’s censorship resistance and reinforcing its decentralization. This would reduce dependence on large mining pools and exchanges for validation, spreading control more evenly among individual participants. Bitcoiners will have to continue pushing to keep Bitcoin resilient against corporate influence in a post-quantum world where security and decentralization will matter more than ever in the years ahead.Poorly designed incentives could introduce risks, particularly Sybil attacks, where bad actors spin up thousands of fake nodes to exploit rewards. These challenges can be solved with the right Sybil resistance mechanisms in place. Ignoring them entirely would be far riskier than addressing them head-on.Source: Michael TaboneBitcoin’s future depends on this momentBitcoin’s greatest strength is its ability to remain decentralized and censorship-resistant. But that strength is not automatic; it requires an infrastructure that encourages broad participation.The quantum-resistant hard fork will be a once-in-a-generation event. We may not get another chance if we fail to use it to fix Bitcoin’s broken incentive structure. Bitcoin’s future depends on getting this moment right.This conversation should continue, but you should have some skin in the game and run a node yourself first. Opinion by: Dr. Michael Tabone, senior economist for Cointelegraph.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 Adrian Zmudzinski on April 1, 2025 at 2:41 pm

Cryptocurrency exchange Bybit has announced the shutdown of its non-fungible token (NFT) marketplace.In an April 1 announcement, Bybit warned its users that its NFT marketplace will cease operations on April 8, 2025, at 4:00 pm (UTC). Furthermore, at that time, the exchange will also shut down its Inscription Marketplace and its initial decentralized exchange offering initiative.The announcement explains that the measures are part of Bybit’s “efforts to streamline our offerings.” The decision follows a similar decision by major NFT marketplace X2Y2 announced earlier this week.Charu Sethi, president at NFT-focused Polkadot and Kusama chain Unique Network, told Cointelegraph at the time that the market moved on from speculative to utility-based:“The speculative phase focused on collectibles and trading is over, but NFTs are now entering their next growth era as core infrastructure enabling massive opportunities in gaming, AI, fan engagement and content authentication.“The NFT market is on a downward trendThe non-fungible token market at large is seeing a significant downturn. Daily NFT trading volume was over $18 million 364 days ago and stands at $5.34 million at the time of publication — a 70% fall.Related: Bitcoin NFTs, layer-2 and restaking hype ‘completely gone’The fall is even more dire when contrasted with the heights reported on Dec. 17, 2024, when volume exceeded $113.6 million. Since then, volume has fallen by over 95%.NFT marketplace daily trading volume. Source: Token TerminalWeak investor interest in speculative NFTs is felt throughout the market. Reports resurfaced earlier today show that NFT project Gutter Cat Gang (GCG) saw a rocky token launch of its GANG token on Apechain on March 31, attributed to a “technical issue” by a third party. However, others pointed to reportedly low interest in the token.Related: Bybit: 89% of stolen $1.4B crypto still traceable post-hackData shared online indicated that the project only attracted 3.66 Ether (ETH), worth about $6,800, in its token sale. This is a far cry from the project’s $1 million target — but the team has not yet addressed those claims.A late March report shows that NFT sales dropped sharply in the first quarter of 2025, plunging 63% year-over-year. Still, the report points out some outliers such as Doodles, Milady Maker and Pudgy Penguins all outperforming expectations.Magazine: Trump-Biden bet led to obsession with ‘idiotic’ NFTs —Batsoupyum, NFT Collector