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by Cointelegraph by William Suberg on April 2, 2025 at 3:09 pm

Bitcoin (BTC) reached new April highs at the April 2 Wall Street open as markets braced for US “Liberation Day.”BTC/USD 1-hour chart. Source: Cointelegraph/TradingViewBitcoin teases breakout in US tariff countdownData from Cointelegraph Markets Pro and TradingView showed local highs of $86,444 on Bitstamp, the best performance for BTC/USD since March 28.Volatility remained in the run-up to US President Donald Trump announcing a sweeping round of reciprocal trade tariffs.The measures would be unveiled in an address from the White House Rose Garden at 4 pm Eastern Time, with Trump then holding a press conference.While US stocks traded slightly down after the open, Bitcoin managed to claw back lost ground, acting in a key area of interest filled with long-term trend lines.As Cointelegraph reported, these include various simple (SMA) and exponential (EMA) moving averages, among them the 200-day SMA — a classic bull market support line currently lost.  BTC/USD 1-day chart with 200 SMA. Source: Cointelegraph/TradingViewIn his latest observations, popular trader and analyst Rekt Capital made additional reference to the 21-week and 50-week EMAs.“The consolidation between the two Bull Market EMAs continues. However, the 21-week EMA (green) represents lower prices as it declines,” he wrote in a post on X alongside an illustrative chart.“This week the green EMA represents $87650. The declining nature of this EMA will make it easier for $BTC to breakout.”BTC/USD 1-week chart with 21, 50 EMA. Source: Rekt Capital/XRekt Capital flagged more bullish news in the making, thanks to BTC/USD attempting to break out of an extended downtrend on daily timeframes.He confirmed:“Bitcoin is one Daily Candle Close above & retest of the Downtrend away from breaking out into a new technical uptrend.”BTC/USD 1-day chart. Source: Rekt Capital/XLast month, Bitcoin’s daily relative strength index (RSI) metric broke free from its own downtrend that had been in place since November 2024.Analysis warns $76,000 BTC price may returnContinuing on the macro picture, however, trading firm QCP Capital was uninspired.Related: Bitcoin sales at $109K all-time high 'significantly below' cycle tops — GlassnodeRisk assets, it told Telegram channel subscribers on the day, were likely to “remain under pressure” following the tariffs announcement.“In crypto, sentiment remains broadly subdued. BTC continues to trade without conviction, while ETH is holding the line at $1,800 support. Across the board, crypto markets are showing signs of exhaustion with numerous coins down 90% YTD, with some shedding over 30% in the past week,” it summarized. “Without a material shift in macro or a compelling catalyst, we don't expect a meaningful reversal. While light positioning could support a grind higher, we're not chasing any upside moves until the broader macro picture improves.”Previous tariff moves in Q1 almost unanimously delivered downward BTC price reactions.Other industry participants were more hopeful, including asset management firm Swissblock, which argued that “no sign of an imminent collapse” occurred on Bitcoin.“Will $BTC hold as a hedge, or follow TradFi into a pullback?” it queried in an X thread on March 31, describing BTC price action as being “at a crossroads.”Bitcoin price momentum chart. Source: Swissblock/XSwissblock saw the potential for a return to $76,000 multimonth lows in the event of a negative reaction — a drop of 11% versus current levels.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 James Strudwick on April 2, 2025 at 3:00 pm

Opinion by: James Strudwick, executive director, Starknet FoundationThe outlook surrounding the use of new technologies has shifted in Washington. Tesla CEO and presidential adviser Elon Musk’s proposition to incorporate blockchain technology into the US Treasury has placed blockchain and its use for state finances at the forefront of the global debate. According to Musk, much of this drive is rooted in the concern over the unsustainability of current government spending. With its immutable ledgers and transparent audit trails, blockchain is waiting in the wind, offering a potential solution to managing vast public finances. Musk advocates for a unified information system that can track real-time payments, credentials and government resources, spurring a debate within the fintech community about the pros and cons of introducing such a tool at the government level. The idea is compelling, as the description on the blockchain tin effectively promises accountability, traceability and streamlined operations. The shift here, namely to a blockchain-powered government infrastructure, presents several challenges that may prove to be beyond what the new administration has expected thus far.Blockchain as state appendage A concern for stakeholders orbiting the blockchain world revolves around the sheer scale of government operations. Every day, the US government handles thousands of transactions across various departments. The feasibility of Musk’s vision is put into question simply as a result of its own complexity. The provable security that blockchain technology must offer while handling millions of daily transactions without buckling under the load to succeed at this scale is enormous.A proposed solution by Musk is a hybrid model that uses “Validium” zero-knowledge rollups. The speed and efficiency of modern ZK-rollups, which can handle hundreds of millions of transactions daily, have the potential to make sure each citizen’s share of government transactions is intact and verifiable. The technology’s rapidly evolving nature, scaling to handle even higher transaction volumes in the coming years, indicates that this could be achievable.Unfortunately, this in itself comes with its own hurdles, particularly when integrating public services, which tend to operate in silos.The human questionThe great irony here is that Musk’s declarations of government inefficiency as a reason for the ongoing shakeups could be one of the biggest reasons not to go ahead with the plan. The real obstacle here is not so much technological as it is deeply, irrevocably human. The transition from archaic legacy systems to the more modern infrastructure of blockchain requires not just software updates but an entire reprogramming of the workforce. Government employees embedded in bureaucracy are used to outdated systems, and retraining them will be no small task.Recent: US housing dept mulls blockchain, stablecoin to pay and monitor grants: ReportMoreover, current government databases are a labyrinth of poorly documented, indecipherable data. Extracting and migrating this data to a blockchain infrastructure is itself a task that may require serious investment. For all its elegance, blockchain wasn’t built to contend with such inefficiency. Despite its potential for handling complex, distributed environments, the difficulties present in the system itself could make the transition more complicated than the hassle is worth.Balancing transparency and confidentiality Transparency of federal spending is also a factor worth highlighting. The innate strength of blockchain and its much-lauded appeal is its strength. It permits citizens to track how public funds are allocated and spent. Musk’s premise could foster a so-far unseen level of accountability, which makes transactions, every delegation of power and every resource distribution visible to the public in real-time. The problem is that sensitive government data, classified information or personal identification could be dangerously exposed on a public blockchain. Musk’s response is to try to tether sensitive data to private channels in the blockchain and ensure that only individuals with the appropriate authorization or from specific departments can access confidential information. Theoretically, this addresses the security concern while allowing blockchain’s public verifiability.Musk’s offer could lead to a more efficient, accountable system. The social drive behind this is the longstanding criticism of wasted spending and resource misallocation. There is also a possibility of strengthening democratic processes by holding public officials more accountable. A decentralized authority has the broader impact of empowering citizens through real-time access.There is a forward-thinking aspect to the vision. It raises a profound question. Technology could address human governance challenges, but we run the risk of a fundamental shift in how we understand privacy and accountable authority. As we question the nature of governance, it warrants careful consideration of the role of blockchain and what it could ultimately mean for the future of society as a whole.Opinion by: James Strudwick, executive director, Starknet Foundation.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.

on April 2, 2025 at 2:48 pm

Elon Musk's electric vehicle company has also been targeted by vandals in recent months amid backlash to his embrace of far-right politics.

by Cointelegraph by Adrian Zmudzinski on April 2, 2025 at 2:36 pm

Major cryptocurrency asset manager Grayscale Investments announced two new Bitcoin outcome-oriented exchange-traded funds (ETFs).According to an April 2 announcement, the new products are the Grayscale Bitcoin Covered Call ETF (BTCC) and the Grayscale Bitcoin Premium Income ETF (BPI). According to an email sent to Cointelegraph, the two new Bitcoin (BTC) funds are meant to generate revenue by harnessing BTC volatility:“Both strategies may be considered as an alternative income stream that’s less correlated to traditional income-oriented investments.“A complex derivative productThe Bitcoin Covered Call product seeks to capture the highest premiums and maximize potential income. Grayscale suggests that it may serve as a complement to Bitcoin exposure.Related: Bitcoin traders are overstating the impact of the US-led tariff war on BTC priceThe fund's strategy involves systematically writing calls very close to spot prices. The hope is that, due to Bitcoin’s historically high volatility, it would generate income through paid call generation.On the other hand, the Bitcoin Premium Income product seeks to balance upside participation with a degree of income generation. This is meant to act as an alternative to direct Bitcoin ownership and seeks a balance between growth and income generation.This fund systematically writes calls targeting strike prices well out-of-the-money on Bitcoin ETFs, including Grayscale Bitcoin Trust (GBTC) and Grayscale Bitcoin Mini Trust (BTC). The announcement reads:“By focusing on this type of call writing strategy, BPI allows investors to participate in much of Bitcoin's upside potential while possibly benefiting from some dividend income.“Related: Bitcoin price gearing up for next leg of ‘acceleration phase’ — Fidelity researchGrayscale Investments promises that both the new products will allow for a differentiated source of revenue that “delivers an uncorrelated source of income for investors.” Furthermore, the new derivatives will feature monthly distributions and systematic options management.Just the latest grayscale filingEarlier this week, Grayscale also filed to list an exchange-traded fund (ETF) holding a diverse basket of spot cryptocurrencies. This new product includes Bitcoin, Ether (ETH), XRP, Solana (SOL) and Cardano (ADA).In late March, the US stock exchange Nasdaq also filed to the US Securities and Exchange Commission (SEC) seeking permission to list Grayscale Investments’ spot Avalanche ETF. Grayscale’s website lists 28 crypto products, of which 25 are single-asset derivatives, and three are diversified.Grayscale is also among the asset managers currently waiting for the approval of its XRP spot ETF, as well as other products. Among those products, we can find the spot Cardano ETF filing and its Litecoin Trust conversion to an ETF. Magazine: Bitcoin ATH sooner than expected? XRP may drop 40%, and more: Hodler’s Digest, March 23 – 29

on April 2, 2025 at 2:11 pm

State-run media in Myanmar announced the military's ceasefire call, which comes after days of pressure from international aid groups and humanitarian organisations.

by Cointelegraph by Cointelegraph on April 2, 2025 at 1:59 pm

Today in crypto, VanEck became the first company to propose a potential BNB ETF in the US, potentially signaling an expansion of BNB Chain. Stablecoin issuer Circle filed to go public in the US, and Ethereum's revenue from blob storage sinks to its lowest level of 2025.VanEck eyes BNB ETF with latest Delaware trust filingInvestment company VanEck filed to register a Delaware trust company for an exchange-traded fund (ETF) tracking Binance-linked BNB cryptocurrency.VanEck, on March 31, registered a new entity under the name VanEck BNB ETF in Delaware, according to public records on the official Delaware state website.VanEck BNB ETF trust registration in Delaware. Source: Delaware.govIn filing 10148820, the entity is registered as a trust corporate service company in Delaware, hinting at a potential spot BNB (BNB) ETF in the United States.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. 

by Cointelegraph by Nick M on April 2, 2025 at 1:57 pm

A new report by Cointelegraph Research explores Coreum’s role in institutional blockchain adoption. It analyzes the project’s technical architecture, compliance framework and its potential impact on regulated asset tokenization. The report presents insights into transaction efficiency, security mechanisms and crosschain interoperability. It also evaluates how Coreum fits into the evolving financial landscape.Blockchain evolution and institutional requirementsThe adoption of blockchain technology by financial institutions has been increasing in lockstep, with the value locked in tokenized real-world assets (RWA). The latter grew by 85% in 2024. Our report examines how third-generation blockchains, such as Coreum, are addressing the challenges of scalability, regulatory compliance and interoperability. Improvements in the infrastructure on the base layer will lead to more seamless institutional adoption in the future.Read the full version of the report for free here.Coreum is structured to support applications that require predictable transaction costs, regulatory oversight and seamless integration with financial infrastructure. Network data indicates that Coreum achieves a transaction throughput in excess of  7,000 TPS and a time to finality of about 1.2 seconds. This positions Coreum well in a crowded and highly competitive layer-1 blockchain landscape. Coreum integrates most of its compliance features at the protocol level, a critical factor for institutional adoption. The network includes onchain KYC and AML monitoring in collaboration with AnChain.ai, an AI-driven compliance provider. This is unlike conventional blockchains, where compliance tools are third-party application-layer software. Coreum puts compliance at its foundation together with real-time risk assessment and fraud detection.Decentralized exchange (DEX) and institutional trading infrastructureOur report also analyses Coreum’s decentralized exchange (DEX) infrastructure. While many layer-1 blockchains rely on liquidity pools, Coreum features a built-in onchain order book. There are important differences between the models. Coreum’s order book DEX allows for deterministic trade execution with minimal slippage, which makes it well-suited for institutional trading strategies. In contrast, AMM-based DEXs rely on liquidity pools that sometimes lead to price inefficiencies and higher exposure to impermanent loss. Coreum’s DEX architecture also supports high-frequency trading, with transaction processing speeds comparable to traditional financial exchanges.A notable aspect of Coreum’s DEX is its advanced API, which enables integration with institutional trading systems. The API is designed to provide low-latency access to order book data, market execution tools and automated trading strategies. This infrastructure allows financial firms and market makers to integrate Coreum’s DEX into their existing trading workflows. It ensures compliance with industry standards and benefits from blockchain-based settlement efficiencies.Read the full version of the report for free here.Interoperability and network connectivityCoreum’s interoperability strategy includes connections with the XRP Ledger (XRPL) and the Cosmos/IBC network. These integrations enable crosschain liquidity and asset transfers, which creates support for financial applications that require seamless movement between blockchain ecosystems. This integration allows institutional users to leverage XRPL’s efficiency in payments and Cosmos’ modular interoperability framework with over 100 connected chains. The ability to interact with multiple networks without sacrificing security or compliance aligns with institutional requirements for blockchain adoption.Conclusion: Networks designed for institutional adoption will need to address compliance, scalability and interoperability challenges. Coreum’s technical structure and regulatory considerations provide a case study for how blockchain networks may evolve to meet these requirements. With its deterministic fee structure, built-in compliance framework and high-speed trading infrastructure, Coreum represents an example of how third-generation blockchains are positioning themselves at the intersection of crypto and regulated financial markets.Read the full version of the report for free hereDisclaimer. 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.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.Cointelegraph does not endorse the content of this article nor any product mentioned herein. Readers should do their own research before taking any action related to any product or company mentioned and carry full responsibility for their decisions.

by Cointelegraph by Nancy Lubale on April 2, 2025 at 1:51 pm

Bitcoin (BTC) is up 16% from the four-month low of $76,600 to reach $88,700 on March 24. The price has since hovered around $85,000 on April 2. The latest rejection from the $85,500 resistance level raises questions about whether BTC price could drop further over the next few days.BTC/USD daily chart. Source: Cointelegraph/TradingViewTrump’s tariffs could drive Bitcoin prices lower?April 2 marks what US President Donald Trump dubbed “Liberation Day,” unveiling sweeping reciprocal tariffs targeting imports from numerous countries. Market participants are concerned this might trigger another sell-off in cryptocurrencies, pushing prices lower.Key takeaways:The proposed tariffs include a 25% levy on auto imports and broad duties on goods from nations like China, Canada, and Mexico.While these measures aim to reduce the US trade deficit and bolster domestic manufacturing, they could result in inflation and a risk-off mood.This could spook investors in the global market, with risk-on assets like Bitcoin bearing most of the brunt.For instance, when Trump imposed tariffs on Canada, Mexico, and China in early March, Bitcoin dropped from $105,000 to $92,000 overnight.Commenting on the current risk-asset landscape, trading firm QCP Capital emphasized the effects of Trump’s trade tariffs release today, especially as investors brace for retaliatory measures from affected nations. “The US seems increasingly intent on isolating itself in pursuit of more favorable trading terms,” the firm said in a Telegram note to investors, adding that the targeted countries are “not likely to concede.”QCP also pointed out that “rather than fracturing under pressure,” global players appear to be closing ranks, particularly after a meeting by officials from China, Japan and Korea to explore deeper regional trade cooperation.“In the short term, we expect all risk assets to remain under pressure.”Inflationary pressures and a shift to safe havensTrump’s tariffs are widely expected to fuel short-term inflation, a dynamic that typically pressures risk-on assets like Bitcoin. Key points:Higher import costs translate to rising consumer prices, prompting a flight to traditional safe-haven assets such as gold, which hit a record high of $3,150 per ounce this year, or US Treasurys. Unlike gold, Bitcoin has yet to fully establish itself as a reliable inflation hedge in the eyes of investors. While some view it as “digital gold,” BTC price remains highly correlated to stocks. The February 2025 crypto crash, which saw $2 billion in liquidations after earlier tariff announcements, underscores this vulnerability. Liquidity could tighten as the Fed is signaling a cautious approach to rate cuts.Lowering of interest rates, for example, is unlikely before June, despite one Fed meeting scheduled in the interim, according to CME Group’s FedWatch Tool.Fed target rate probabilities for May 7 FOMC meeting. Source: CME GroupThe odds of the Fed keeping interest rates unchanged at the May 7 meeting are 83.5%. This could further dampen enthusiasm for BTC and push its price lower if key price levels do not hold.Related: Bitcoin price can hit $250K in 2025 if Fed shifts to QE: Arthur HayesBitcoin price analysis sees a ‘lot of volatility’ aheadBitcoin’s price is notoriously prone to overreactions, amplified by leveraged trading in the crypto derivatives market. The uncertainty surrounding the scope and retaliation to Trump’s April 2 tariffs could spark panic selling, triggering a cascade of liquidations.“Today is the day where the Trump administration shares details about the proposed tariffs on the rest of the world,” popular trader Daan Crypto Trades wrote on X. Market participants have been looking forward to this event over the last few weeks, which has caused a lot of uncertainty. “Depending on the severity of the tariffs and how the market interprets it, a larger move is due,” the trader said, adding:“Regardless of what happens, a lot of volatility is pretty much a guarantee today.”Others doubted the severity of Trump’s tariffs, with analyst and entrepreneur Michaël van de Poppe arguing that it could be “a big non-event or an event that's heavily priced into the markets.”“I would expect the markets to go back to neutral after today is over.”Fellow analyst AlphaBTC believes that Bitcoin price must hold above $84,000 to avoid deeper corrections. The analyst shared a chart showing that a breakdown of the $84,000 support would trigger a sell-off to areas below $80,000, with the March 14 low at $79,900 being the first level of interest.#Bitcoin must hold 84K Keeping it simple, no H4 close below 64K and last the day without Trump dumping on markets.#Crypto #BTC https://t.co/UPRkWfegdP pic.twitter.com/OkJDc5jXWl— AlphaBTC (@mark_cullen) April 2, 2025This 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 Aaron Wood on April 2, 2025 at 1:37 pm

The crypto industry’s sway in Washington DC has made it more likely that the industry will get beneficial legislation, but it’s also creating problems. Concerns of regulatory capture — a situation in which regulators or lawmakers are co-opted to serve the interests of a small constituency — have grown as crypto lobbying gains influence in Washington.The risks of regulatory capture are twofold: First, the public interest is shut out from policy-making in favor of a single industry or company, and second, it can make regulators blind to or paralyzed by economic risks. Now, not even three months into Trump’s presidency, American lawmakers and industry crypto observers have voiced concerns that this regulatory capture could not only negatively affect the country but curb competition within the crypto industry as well. Regulatory capture in the battle for crypto policyIn a March 28 letter, prominent members of the US Senate Banking Committee and Committee on Finance addressed Acting Comptroller Rodney Hood and Michelle Bowman, Chair of the Federal Reserve Board of Governor’s Committee on Supervision and Regulation.The letter specifically addresses the launch of USD1, a stablecoin project from the Trump family’s decentralized finance project World Liberty Financial (WLFI), as Congress considers GENIUS Act legislation on stablecoins. Related: Trump’s crypto project launches stablecoin on BNB Chain, EthereumThe senators suggest there are opportunities for regulatory capture and conflict of interest. “President Trump may review any actions the OCC takes with regard to USD1’s stablecoin application. He would be positioned to intervene in and deny the OCC from promulgating stablecoin safeguards, or force the agency to refrain from initiating any enforcement actions against WLF.”Son Eric Trump pumps his father’s memecoin ahead of the inauguration. Source: Eric TrumpThey added that he could attempt to intervene or deny assistance to USD1’s competitors and that the GENIUS Act provides no provisions to prevent such conduct. Crypto industry observers have also echoed concern over a single entity's undue influence over policy when it comes to Coinbase’s influence in Washington’s development of stablecoin policy.In January, Coinbase CEO Brian Armstrong signaled that his firm would be willing to delist Tether (USDT), the world’s largest stablecoin, if the version of the stablecoin bill under consideration in Congress became law.Under those terms, USDC, in which Coinbase is a major shareholder, would essentially be fencing out its largest competitor from the US market. Castle Island Ventures partner Nic Carter cried foul, stating that “Regulatory capture is poison. Reminds me of what SBF used to do.”Related: SBF always played both sides of the aisle despite new Republican pleaAt the time, Vance Spencer, founder of crypto venture firm Framework Ventures, said that it was “a blatant attempt at regulatory capture by US players done at the expense of US national interest.”“The future of stablecoins can be US dollar-based only if we allow a broader competitive set of stablecoin issuers to flourish and deny gatekeeping/gaslighting by those interested in regulatory capture,” he concluded.George Selgin, senior fellow and director emeritus of the Cato Institute's Center for Monetary and Financial Alternatives, told Cointelegraph that the Bitcoin reserve is another clear example of the crypto lobby’s influence over the regulatory process. Trump signs the Bitcoin reserve executive order. Source: David Sacks“It's unlikely that anyone would have considered it desirable, let alone necessary, for the US government to maintain digital asset stashes — in fact, there's no good reason for its doing so — had it not been for intense pressure from cryptocurrency enthusiasts,” he said.Regulatory capture is old hat in Washington lawmakingDifferent lobbies influencing policymaking in Washington are nothing new, so much so that “regulatory capture” to the layman would seem to describe business as usual. Selgin said that the Biden administration’s approach to crypto was equally an example of regulatory capture, just in favor of traditional financial firms that, with their lobbying efforts, wished to limit competition from industry upstarts. “Regulators' relatively hostile stance toward crypto [under Biden] was no less evidence of regulatory capture than their more indulgent stance toward it today. The main difference was in who did the capturing,” he said. “Financial regulatory capture is an old story; only some new players are now proving to be adept hunters.”When asked how one would differentiate between legitimate industry advocacy and regulatory capture, Selgin said, “I don't think you need to. First of all, the line between them is very thin.”Industries rarely take complete control of regulators due in part to the fact that individual firms within an industry have different ideas about what ideal regulation looks like, said Selgin.  Furthermore, any kind of successful advocacy “‘captures’ regulators to some extent” if only by virtue of the fact that it makes them change their beliefs about how best to regulate.What is to be done?The question remains then: is regulatory capture just to be accepted as a natural part of the policymaking process?Some academics have suggested creating entirely new government bodies to deal with the problem. Gerard Caprio, William Brough professor of economics, emeritus at Williams College, proposed the creation of an expert panel dubbed a “Sentinel” to oversee regulator behavior. But such proposals face nearly impossible headwinds, not only because of their technical complexity, but due to the simple fact that lawmakers have no incentive to set up an organization that oversees them. Related: Trump’s CFTC pick Brian Quintenz gets crypto’s foot in the revolving doorAccording to Selgin, the ultimate determination is not “whether or how the industry manages to influence regulators. It's whether the resulting regulatory regime serves the public interest [...] If a regulation is harmful, it's harmful whether it was lobbied for or not.”And the public’s interest in crypto is getting harder to see. Polls about crypto sentiment, trust and ownership vary wildly, and the Trump administration’s personal interest has done little to endear it to skeptics or middle-of-the-road voters. Some industry surveys claim that a whopping 70% of Americans own crypto. Source: NFT EveningEven crypto lobbyists admit that the (barely) bi-partisan drive for crypto is driven by a desire to appease the crypto industry’s deep pockets ahead of the 2026 midterms. Dave Grimaldi, executive vice president of government relations at Blockchain Association, said, “There are [...] pro-crypto candidates who won and were funded by our industry and had votes coming to them from crypto users in their district. [...] And then there were also incumbent, sitting members of Congress who lost their seats because they were so negative for completely unnecessary and illogical reasons.”Little can be done until lawmakers and regulators agree there is a problem to solve and exert the political will to solve it. Magazine: Arbitrum co-founder skeptical of move to based and native rollups: Steven Goldfeder

by Cointelegraph by Ray Salmond on April 2, 2025 at 1:30 pm

Social messaging apps tend to make major news headlines a few times per year for either their use in planning some sort of crime or, more routinely, for users’ privacy concerns over how companies like Meta — which owns WhatsApp, Instagram and Messenger — handle user data. In a somewhat separate event, the Trump administration became the focus of national discussion after members of US President Donald Trump’s cabinet were found to be using Signal to plan military actions in Yemen. While a hack, backdoor access or misuse of user data was not the source of criticism in this scenario, the event did raise national security concerns about Signal’s security and whether or not high-ranking government officials should be using messaging apps to discuss classified information. Apple’s recent decision to stop offering end-to-end encrypted (E2EE) cloud storage in the UK instead of creating a backdoor that would allow the UK government access to user data also raised eyebrows, and it highlights the ability of tech companies to make unilateral decisions about users’ data and their privacy. On Episode 58 of The Agenda podcast, hosts Ray Salmond and Jonathan DeYoung spoke to Sessions technical co-founder Kee Jefferys about how the decentralized, encrypted messaging app works to protect users’ privacy and data. Decentralize, or else the writing is on the wallBy downloading and using messaging apps, users, whether they realize it or not, often give the app and its operator permission to track their location, view their contacts and other data on their phone, and also keep records of their conversations.Even in instances where the app operator pledges not to do any of the above, if they process and keep user data on just one or two servers, the company itself is a risk of being compromised by hackers — and this presents a direct risk to users. Related:The case against Pavel Durov and why it's important for cryptoWhen asked whether Apple’s aforementioned decision to cease E2EE services rather than grant a government request backdoor access was an isolated event, Jeffreys said it likely was not. “I see countries moving more towards this ideology of pushing applications like backdoors for applications and arresting developers of open-source code,” he said. “I mean, obviously, we saw this with Durov, the founder of Telegram, being arrested in France. Even though he himself didn't do anything wrong, because Telegram was being used for malicious acts, the French government felt empowered to arrest the founder, even though all of the Telegram code is open source. So, that's really concerning from my perspective.” As mentioned earlier, malicious attacks also remain an ever-present threat to users and the companies that operate messaging apps. Jeffreys explained that Session messages are E2EE, the app does not require a mobile phone number to sign up, and the platform uses Onion routing to hide users’ IP addresses, and he said that blockchain is one of the most optimal solutions for decentralizing and hardcoding security to applications. Jeffreys said: “In Session, you don't reveal your IP address to the nodes that you store your messages on, and then it's decentralized as well. So it doesn't have a single central server where all of the messages are stored. It actually has this decentralized network of around 2,200 nodes, which kind of splits and stores your messages temporarily on the network. So from that perspective, like it's censorship-resistant, it hides a lot of metadata when you use the service, and it doesn't require these real-world identifiers when you sign up for Session.” When asked for some suggestions that normal people can take if they want to increase their privacy, Jefferys said that there are some very “simple steps [people] can take to protect themselves, mostly against hackers and corporate intrusion.”  “Making sure that your social media footprint, like the things that you put out there publicly, are as clean as possible. So, like going through your old social media posts and removing things which are publicly accessible not only to train AI tools, but also to start forming these pictures about you, about what your interests are, what products do you like. Those are things that are publicly accessible. I would just remove as much as possible and be careful about what you're saying online and the digital footprint that you're creating as well.”To hear more from Jeffreys’ conversation with The Agenda — including his future vision for blockchain-based messaging apps — listen to the full episode on Cointelegraph’s Podcasts page, Apple Podcasts or Spotify. And don’t forget to check out Cointelegraph’s full lineup of other shows! Magazine: Did Telegram’s Pavel Durov commit a crime? Crypto lawyers weigh inThis 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 Jonathan DeYoung on April 2, 2025 at 1:23 pm

DNA testing firm 23andMe is bankrupt, and now the genomic data of its 15 million users is up for sale to the highest bidder. Could that data end up on the blockchain?The company announced on March 23 that it had filed for Chapter 11 bankruptcy protection and that its CEO, Anne Wojcicki, had stepped down. The announcement sent waves of concern among 23andMe’s customers, many of whom are now scrambling to delete their data from the service.Privacy advocates and government officials have weighed in, urging users to download and then delete their data. The sense of urgency increased on March 26 when a judge gave 23andMe the official stamp of approval to sell user data. Still, there is the question of where these users should move their data and whether there is a better alternative.In the wake of the bankruptcy, blockchain advocates have seized the opportunity to make the case that DNA is better off on the blockchain, whether directly stored on the servers of a decentralized network or using some elements of Web3 technology on the back end. The promise of a more private 23andMe, where users control their own data, is alluring to many, yet actually bringing the world of DNA sequencing onto the blockchain is not without its challenges.23andMe’s complicated privacy history23andMe may be most known for selling DNA testing kits and offering ancestry and health reports, but its core business model is selling its customers' genetic data to pharmaceutical companies and other researchers.The company’s privacy policy states that it will only share a user’s DNA with a third party if the user grants permission. Around 80% of its users ultimately opt into this agreement. 23andMe also claims that any user information is anonymized before being shared, though it’s not inconceivable that someone’s unique genetic data could still be linked back to them.A December 2024 study by data removal service Incogni found that 23andMe’s privacy policy was actually one of the strongest among its competitors. Still, the agreement also states that user data can be sold or transferred if the company is acquired, and the new owner may not have the same privacy policy.How DNA testing services use genetic information. Source: IncogniDarius Belejevas, head of Incogni, told Cointelegraph that customers give their genetic data to companies like 23andMe under the assumption that it will be protected under the privacy terms they agreed to. “A bankruptcy sale fundamentally alters the terms of that agreement, potentially exposing their most sensitive biological information to use by the highest bidder,” he said.“Yet again, we see a regulatory gap in the data collection industry, which, in this case, will likely leave 23andMe users never knowing what really happens with their physical samples and sensitive information.”Privacy policy concerns aside, 23andMe has also faced data leaks. In 2023, hackers stole ancestry data of about 6.9 million users, roughly half of its customer base at the time. What was particularly concerning was that the hack may have specifically targeted users of Ashkenazi Jewish and Chinese descent.A user of an online forum claimed to be selling stolen 23andMe data in October 2023. Source: ResecuritySecurity experts have warned that stolen genomic information could potentially be used to carry out identity theft or even design targeted bioweapons. In July 2022, US lawmakers and military officials issued a warning at the Aspen Security Forum that the data held by DNA testing services — specifically calling out 23andMe — were potential targets for foreign adversaries aiming to develop such bioweapons.“There are now weapons under development, and developed, that are designed to target specific people,” said Representative Jason Crow, a Democrat from Colorado who sits on the House Intelligence Committee. “That's what this is, where you can actually take someone's DNA, you know, their medical profile, and you can target a biological weapon that will kill that person.”Putting 23andMe on the blockchainPutting DNA on the blockchain is not a novel idea; Genecoin pitched it as early as 2014. But 23andMe’s bankruptcy is making headlines, and several blockchain projects are capitalizing on the momentum to make their respective pitches for why they offer a better alternative.At least four potential buyers have publicly declared their interest in 23andMe, and one of them is the Sei Foundation, an organization dedicated to advancing the Sei blockchain. The mechanics of how the foundation would bring 23andMe onto the blockchain are not entirely clear, but it reiterated on March 31 that it would ensure “one of the nation’s most valuable assets - the health of its people, survives on chain.”Source: SeiPhil Mataras, founder of the decentralized cloud network AR.IO, which is built atop Arweave, said that the move was a “flashy, but exciting prospect,” in comments shared with Cointelegraph. “The data would be more secure and tamper-resistant than any other kind of centralized data storage solution.”AR.IO has itself been pushing for 23andMe users to download their data and move it over to the ArDrive decentralized storage solution, which has published a step-by-step guide explaining how to upload the data to an encrypted drive. “This is something you can do right now, and then you won’t have to even worry about what will happen to your data, since it will no longer be in the 23andMe database,” said Mataras.Blockchain project Genomes.io, which describes itself as “the world’s largest user-owned genomics database,” has seen new users flocking to the platform since 23andMe’s bankruptcy. “Hundreds of new users per week are joining us,” its CEO, Aldo de Pape, told Cointelegraph.According to de Pape, “This is a clear use case for decentralized technology to improve a process that has been flawed from the beginning, and which is this essence of bringing data sovereignty back to individuals, giving the health information back to an individual, making sure that the owner and the health data are one.”Genomes.io uploads users’ genomic data into what it calls “vaults,” which are end-to-end encrypted so that only the user holds the private keys needed to access the data. This also means that users' DNA will still be secured if the company is ever hacked or sold.Users can then opt into specific studies on a case-by-case basis, and they get paid in the project’s native token when their data is used. Related: Stop giving your DNA data away for free to 23andMe, says Genomes.io CEOAnother solution, GenoBank, has an alternative approach: tokenizing genetic information onchain as “BioNFTs.” The company offers DNA testing kits linked to non-fungible tokens that are self-custodied by the customer, meaning they can have their DNA sequenced anonymously.“What if this moment of disruption could actually become a catalyst for positive change?” asked its CEO, Daniel Uribe, in a March 24 blog post. Much like Genomes.io, Uribe laid out a vision where everyone owns their data, controls who accesses it, captures its value and maintains privacy. “This isn’t science fiction. The technology exists today.”Blockchain comes with its own concernsDespite the current hype around bringing blockchain to DNA, there are still challenges in doing so, and decentralized solutions offer their own set of potential risks.If a customer misplaces the private keys to their genomic data, there is only so much any project or company can do to help them. Perhaps more terrifying is the idea of a user having their private keys hacked and their genomic data stolen.De Pape said that Genomes.io, for its part, will work with customers to secure their vaults if their private keys are compromised, although they are unable to actually unlock a user’s vault.Then there are additional privacy concerns at the laboratory level. Even if the final data is stored in the most private, secure manner possible, the sequencing laboratories themselves may not follow the same strict guidelines.In terms of uploading DNA data directly to the blockchain, there could be an astronomical cost associated. A raw whole genome sequencing file a laboratory generates can be up to 30 GB. This means uploading the raw files for 15 million customers — the total number of people who have given their DNA to 23andMe — to a decentralized storage solution like Arweave would cost upward of $492 million as of April 1. 450,000 TB of raw DNA data would cost nearly half a billion dollars to upload to Arweave. Source: Arweave Fees“Don't upload it [DNA] to the blockchain. That is the biggest mistake you could make,” argued de Pape. In addition to the cost, he said there are privacy concerns.Blockchain, more often than not, is a public space, right? So, even if you put it on the blockchain, it doesn't mean that it's entirely private to you. There is a track record of you uploading the data there.Finally, regulations add another layer of complexity to the matter. A 2020 study written in part by GenoBank’s Uribe found that regulatory frameworks like the EU’s General Data Protection Regulation, which sets strict guidelines for the handling of user data, have “generated some challenges for lawyers, data processors and business enterprises engaged in blockchain offerings, especially as they pertain to high-risk data sets such as genomic data.”So, while blockchain certainly offers several advantages over centralized companies like 23andMe, it’s no panacea, and it may not be for everyone.But regardless of where users choose to move their data, the message from privacy advocates and security experts remains clear: Don’t leave it with 23andMe.Magazine: Crypto fans are obsessed with longevity and biohacking: Here’s why

by Cointelegraph by Adrian Zmudzinski on April 2, 2025 at 1:09 pm

Over $2 billion was lost to cryptocurrency hacks in the first quarter of 2025.According to a report shared with Cointelegraph by crypto cybersecurity firm Hacken, in Q1 2025, nearly $1.63 billion was lost just to access control exploits. Anmol Jain, vice president of investigations at crypto forensics firm AMLBot, told Cointelegraph that the exceptionally high figure is mainly attributable to the recent hack of the crypto exchange Bybit.The data is similar to that recently shared by crypto cybersecurity firm PeckShield. The competing firm’s report — which excludes scams — suggested that crypto hacks total at $1.6 billion in Q1 2025.Total 2025 Q1 crypto hack losses by category. Source: HackenLate February reports indicate that the North Korean hackers behind the $1.4 billion Bybit hack control over 11,000 cryptocurrency wallets used to launder stolen funds. The increasing participation of North Korean state actors highlights increasing sophistication and scale.This hack had a significant impact on this quarter’s figures. This is particularly clear when one considers that the entirety of 2024 saw a total loss of $2.25 billion. Hacken shared a key lesson on the subject:“Securing digital assets requires more than just secure on-chain code — the entire infrastructure, from front-end interfaces to internal processes, must be equally hardened, as all it takes is a single weak spot to wreck the entire system.“No one is safeHacken’s report highlighted that the past few months saw “even the biggest centralized and decentralized players falling victim to operational failures, access control weaknesses, and in a few cases, social engineering.” The quarter did not see any notable new exploits, “but rather the continued effectiveness of existing attack vectors.”The report further highlights that, while smart contract vulnerabilities remain an issue, “most damage is now caused by failures in people, processes, or permission systems.” This is also reportedly the third quarter in a row that has seen the top exploit be a multisignature wallet-related hack.The ByBit hackers compromised the Safe{Wallet} front end. Previous hacks involving multisignature wallet implementations or management include the Radiant Capital hack in Q4 2024 and the WazirX hack in Q3 2024.The crypto scam industryScams also resulted in large-scale damage, with Hacken data attributing $96.37 million of losses to phishing scams and $300 million to rug pulls. Jain also highlighted a troubling trend in crypto scams becoming an industry:“The most worrying trend is the professionalization of scam networks, where criminals operate with startup-like efficiency, including ‘training programs’ for scammers, internal quotas, and multi-stage laundering schemes using platforms like Huione Pay.“The statement follows mid-January reports that Huione, often described as”“the largest online illicit marketplace to have ever operated”” highlighted that the service has seen its monthly inflows increase by 51% in just half a year. This growth followed the platform's deployment of its USD-pegged stablecoin and financial services dedicated to illegal activities.Anmol highlighted that “most pig butchering scams originate from Southeast Asian cybercrime compounds,” with many being located in Cambodia, Myanmar and Laos, with some presence in Thailand. The operators also often “employ” human trafficked young people from India, Nepal, Vietnam, and the Philippines.Magazine: China’s ‘point running’ crypto scams, pig butchers kidnap kids: Asia Express

by Cointelegraph by Zoltan Vardai on April 2, 2025 at 12:55 pm

Avalanche saw a significant surge in stablecoin supply over the past year, but the onchain deployment of this capital points to passive investor behavior, which may be limiting demand for the network’s utility token.The stablecoin supply on the Avalanche network rose by over 70% over the past year, from $1.5 billion in March 2024, to over $2.5 billion as of March 31, 2025, according to Avalanche’s X posMarket capitalization of stablecoins on Avalanche. Source: AvalancheStablecoins are the main bridge between the fiat and crypto world and increasing stablecoin supply is often seen as a signal for incoming buying pressure and growing investor appetite.However, Avalanche’s (AVAX) token has been in a downtrend, dropping nearly 60% over the past year to trade above $19 as of 12:31 pm UTC, despite the $1 billion increase in stablecoin supply, Cointelegraph Markets Pro data shows.AVAX/USD,1-year chart. Source: Cointelegraph Markets Pro“The apparent contradiction between surging stablecoin value on Avalanche and AVAX's significant price decline likely stems from how that stablecoin liquidity is being held,” according to Juan Pellicer, senior research analyst at IntoTheBlock crypto intelligence platform.Related: Bitcoin can hit $250K in 2025 if Fed shifts to QE: Arthur HayesA “substantial portion” of these inflows consists of bridged Tether (USDT), the research analyst told Cointelegraph, adding:“This seems as inactive treasury holdings rather than capital actively deployed within Avalanche's DeFi ecosystem (at least for the time being). If these stablecoins aren't being used in lending, swapping, or other DeFi activities that would typically drive demand for AVAX (for gas, collateral, etc.), their presence alone wouldn't necessarily boost the AVAX price”The AVAX token’s downtrend comes during a wider crypto market correction, as investor sentiment is pressured by global uncertainty ahead of US President Donald Trump’s reciprocal import tariff announcement on April 2, a measure aimed at reducing the country’s estimated trade deficit of $1.2 trillion.Related: Michael Saylor’s Strategy buys Bitcoin dip with $1.9B purchase70% chance for crypto market to bottom by June: Nansen analystsNansen analysts predict a 70% chance that the crypto market will bottom in the next two months leading into June as the ongoing tariff-related negotiations progress and investor concerns are alleviated.“Once the toughest part of the negotiation is behind us, we see a cleaner opportunity for crypto and risk assets to finally mark a bottom,” Aurelie Barthere, principal research analyst at the Nansen crypto intelligence platform, told Cointelegraph.Both traditional and cryptocurrency markets continue to lack upside momentum ahead of the US tariff announcement.BTC/USD, 1-day chart. Source: Nansen“For the main US equity indexes and for BTC, the respective price charts failed to resurface above their 200-day moving averages significantly, while lower-lookback price moving averages are falling,” wrote Nansen in an April 1 research report. Magazine: Bitcoin ATH sooner than expected? XRP may drop 40%, and more: Hodler’s Digest, March 23 – 29

by Cointelegraph by Yashu Gola on April 2, 2025 at 12:45 pm

XRP (XRP), the native cryptocurrency of the XRP Ledger (XRPL), has been touted by proponents as a high-speed, low-cost solution for cross-border payments. But just how much value flows through the network on a daily basis? Let’s examine.XRP volumes have risen since Trump’s reelectionBased on recent data from Glassnode, XRP’s daily transfer volume settled on its blockchain in US dollars frequently ranges between $300 million and $1 billion. However, since November 2024, when Donald Trump won the US presidential election, XRP has settled an average of $2.28 billion per day, signifying heightened network activity likely fueled by XRP’s price boom in the same period.XRP total transfer volume. Source: GlassnodeThat said, these spikes don’t necessarily reflect steady adoption or payment activity; instead, they could further be tied to speculative behavior, Ripple-related transfers, whale moves, and reshuffling between exchanges. Ripple is behind many big XRP transfersOne important factor behind the spikes in XRP’s daily transfer volume is large token sales by Ripple and its co-founder, Chris Larsen.Chris Larsen’s XRP sales (2024–2025):On Sept. 18, he transferred 50 million XRP (~$29 million) from a wallet inactive for 11+ years. 50,000,000 #XRP (29,120,312 USD) transferred from Chris Larsen to unknown wallethttps://t.co/D9iopMqePM— Whale Alert (@whale_alert) September 16, 2024By early 2025, Larsen had sold over $116 million worth of XRP.These sales reduced XRP reserves on one of his wallets from 500 million to 410 million XRP.Previously, the SEC estimated Larsen sold ~$453.69 million worth of XRP between 2017 and 2020.The 2024–2025 sales stand out for their scale and timing during XRP’s rally past $3.Ripple’s XRP escrow sales (2017–2025):Ripple started selling XRP from escrow in 2017, releasing up to 1 billion XRP/month, often returning unsold tokens.It sold $91.6 million during the cryptocurrency’s 30,000% rally in Q4 2017In Q3 2018, Ripple sold $163 million during volatile markets.In Q2 2019, the firm sold $251 million in XRP, one of its largest sales.Sales dropped to $1.75M in Q1 2020, likely due to regulatory pressure from the SEC.Across 2021, around $1.5B were sold, per Ripple’s reports.This suggests that Ripple tends to ramp up sales during bullish periods and scale back during XRP price downtrends.Related: Ripple ‘should act in its own interest’ when selling XRP — Ripple CTOIn 2017, Ripple locked 55 billion XRP—the majority of the total supply—into a series of escrow contracts. Each contract held 1 billion XRP, set to be released monthly over 55 months.However, any unused portion is returned to escrow, with a new contract pushed to the back of the queue, i.e., re-locked for 55 months.During active sale periods, these movements could result in noticeable spikes in total transfer volume, especially when paired with high speculative interest. 370,000,000 #XRP (778,259,699 USD) locked in escrow at #Ripplehttps://t.co/Rk079yzgNf— Whale Alert (@whale_alert) April 2, 2025Bitcoin and Ethereum outperform XRP overallBitcoin and Ethereum continue to dominate XRP in terms of daily transfer volume, highlighting broader adoption and greater trust in these ecosystems.The overall average daily transfer volume for Bitcoin across the full data set is approximately $23.26 billion, according to Glassnode. Bitcoin total transfer volume. Source: GlassnodeIn recent years, the network has settled an average of $64.03 billion per day over the past 30 days, likely due to strong institutional flows, ETF-driven activity, and speculative trading.Meanwhile, Ethereum's overall daily transfer volume is approximately $2.53 billion. But its recent 30-day average of the same comes to be at around $5.67 billion.Ethereum total transfer volume. Source: GlassnodeTotal transfer volume reflects real-life usageTransfer volume is a key onchain metric, showing how much real value is settled daily via blockchain. High volumes, especially when sustained, indicate greater user activity in moving money onchain. Bitcoin and Ethereum see consistent activity from custodians, ETFs, and DeFi apps.In XRP’s case, however, usage appears concentrated around trading cycles. Despite Ripple’s efforts to promote XRP in cross-border settlements via On-Demand Liquidity (ODL), onchain volumes suggest limited adoption among enterprise users.However, XRPL has recently introduced tools for stablecoin issuance, tokenization, and EVM compatibility. Related: Redemption arcs of 2024: Ripple’s victory, memecoins’ rise, RWA growthIn Q4 2024, for instance, the ledger’s Automated Market Maker (AMM) volume increased by 3,100%, reflecting exponential growth in usage.XRP Ledger Key Metrics as of Dec. 31, 2024. Source: MessariHowever, these innovations have yet to generate volume levels comparable to Ethereum and Bitcoin.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 2, 2025 at 12:31 pm

Update (April 2, 1:50 pm UTC): This article has been updated to add official registration data from the Ontario Securities Commission.Cryptocurrency exchange Kraken obtained a new registration in Canada as its latest compliance milestone.Kraken secured a restricted dealer registration from the Ontario Securities Commission (OSC) on April 1, according to official data on the OSC website. The registration reaffirms Kraken’s commitment to serving Canadian investors as its platform now has more than $2 billion Canadian dollars ($1.4 billion) in combined assets under custody.An excerpt from the list of crypto asset trading platforms registered with the OSC. Source: OSCIn conjunction with the registration, Kraken announced the appointment of Cynthia Del Pozo as general manager for North America. Before joining Kraken in 2025, Del Pozo served as head of strategy at the Winklevoss twins’ Gemini, which exited the Canadian market in late 2024.Restricted dealer registration is subject to specific requirementsAccording to the Canadian Securities Administrators (CSA), restricted dealer registration is one of the eight-firm registration types in Canada, telling investors what products and services they can offer.Unlike an investment dealer or investment fund manager, restricted dealer registration is a special classification used for firms that “do not quite fit under any other category” and is subject to specific requirements or conditions by securities regulators.An excerpt from the CSA’s firm and individual registration types explainer. Source: CSAIn the announcement, Kraken said that the registration enables its Canadian clients to benefit from a solid regulatory foundation, ensuring that its platform is supervised by the OSC.Rival Gemini exchange exited Canada in late 2024Kraken’s strengthening commitment to the Canadian market comes months after rival Gemini exchange departed from the country before the end of 2024.Gemini’s abrupt exit from Canada was unexpected by many, raising questions about the clarity of cryptocurrency regulation policies in the country.Related: APX Lending gains exemptive relief from Canadian Securities AdministrationKraken’s new North American general manager, Del Pozo, spent three years working at Gemini Canada, with her most recent position as head of strategy and corporate development, according to her LinkedIn profile.An excerpt from Cynthia Del Pozo’s LinkedIn profile. Source: LinkedInDespite Gemini’s shutdown in Canada, Del Pozo is optimistic about the state of the local crypto market.“Canada is at a turning point for crypto adoption, with a growing number of investors and institutions recognizing digital assets as a vital part of the financial future,” she said in the announcement, adding:“I’m thrilled to join Kraken’s mission at this critical moment, and to lead our expansion efforts, ensuring we continue to serve our clients long-term with innovative and compliant products.”Kraken’s latest registration in Canada marks another milestone in the long story of the company in the jurisdiction.According to a blog post by the exchange, Kraken’s Canada journey began in 2011 with the launch of CaVirtEx, an early local crypto trading platform based in Calgary, which Kraken acquired later in 2016.Magazine: How crypto laws are changing across the world in 2025

by Cointelegraph by Adrian Zmudzinski on April 2, 2025 at 12:13 pm

Social cryptocurrency project Pi Network’s price approaches all-time lows as more and more coins are unlocked.CoinMarketCap data shows that Pi Network (PI) is trading at $0.6722 as of press time, very close to its all-time low of $0.6152 reported on Feb. 20. The price action comes as over 126.6 million PI tokens are expected to be unlocked this month, equivalent to just under 1.87% of the coin’s current circulating supply.Monthly Pi unlock chart. Source: PiScanFounder of Obchakevich Research, Alex Obchakevich, attributed the price downturn to continued PI unlocks in correspondence with Cointelegraph. He described the event as “inevitable in any case” and said:“Monthly unlocks exceed demand, which greatly affects the value of the token.“Related: The truth about Pi coin: Could it be the next Bitcoin?So far, the network has unlocked 4.9 billion PI, with 1.54 billion more coins being freed in the next 12 months. So far, Pi Network has unlocked an average of 133 million PI per month.The current downturn follows February's all-time lows following the Pi Network mainnet launch. The project operated with trading restrictions that prevented its listing on any platform until that point and then was listed on Bitget, OKX and MEXC.The potential is thereStill, Obchakevich also recognized the potential of the Pi Network. He highlighted that the network should now “focus on project development now to increase usage and interest.” Talking about growth potential, he also said:“The project certainly has the potential to compete with the top 10 projects in the future. But now they need to stay on the market in such unstable times, as competitors offer more interesting conditions and products.“Related: Pi Network mainnet launch: What it means for pioneersWhat is Pi Network?Pi Network is a mobile-first blockchain project allowing users to earn its native token, Pi coin, through an in-app daily check-in process. The network first launched in 2019 and is developed by a team of Stanford University graduatesPi Network employs a referral-based structure that sees users invite others to join in exchange for token earnings. In late February, Ben Zhou, the CEO of crypto exchange ByBit, challenged the project’s legitimacy and accused it of being a scam. He wrote at the time:“Yes, I still think you are a scam, and no, Bybit will not list scam.“Magazine: Help! My parents are addicted to Pi Network crypto tapper

on April 2, 2025 at 12:06 pm

The ruling military junta says it fired warning shots at the group because the convoy failed to stop and it hadn't told them they were working in an active combat zone.

by Cointelegraph by Zoltan Vardai on April 2, 2025 at 11:24 am

The cryptocurrency market may see a local bottom in the next two months amid global uncertainty over ongoing import tariff negotiations, which have been limiting investor sentiment in both traditional and digital markets.US President Donald Trump is set to detail on April 2 his reciprocal import tariffs, measures aimed at reducing the country’s estimated trade deficit of $1.2 trillion in goods and boosting domestic manufacturing. While global markets took a hit from the first tariff announcement, there is a 70% chance for cryptocurrency valuations to find their bottom by June, according to Aurelie Barthere, principal research analyst at the Nansen crypto intelligence platform.The research analyst told Cointelegraph:“Nansen data estimates a 70% probability that crypto prices will bottom between now and June, with BTC and ETH currently trading 15% and 22% below their year-to-date highs, respectively. Given this data, upcoming discussions will serve as crucial market indicators.”“Once the toughest part of the negotiation is behind us, we see a cleaner opportunity for crypto and risk assets to finally mark a bottom,” she added.Related: Bitcoin can hit $250K in 2025 if Fed shifts to QE: Arthur HayesBoth traditional and cryptocurrency markets continue to lack upside momentum ahead of the US tariff announcement.BTC/USD, 1-day chart. Source: Nansen“For the main US equity indexes and for BTC, the respective price charts failed to resurface above their 200-day moving averages significantly, while lower-lookback price moving averages are falling,” wrote Nansen in an April 1 research report. “Fragile market psychology highlights the necessity of “good news,” mainly on US growth and on tariffs,” added the report.Related: Michael Saylor’s Strategy buys Bitcoin dip with $1.9B purchaseBitcoin needs to hold $82,000 amid crypto market “wait and see” mode: AnalystInvestors are currently in “wait and see mode” and are hesitant to take on large positions as markets lack direction.However, the Crypto Fear & Greed Index remained above the “extreme fear” mark for a third consecutive session, which suggests a marginal improvement despite continued caution, Stella Zlatareva, dispatch editor at digital asset investment platform Nexo, told Cointelegraph.“This reinforces the view that markets are in a wait-and-see mode,” Zlatareva told Cointelegraph, adding:“Bitcoin continues to consolidate within the $82,000 – $85,000 range after experiencing a period of directional recalibration in Q1. The asset is navigating this zone with key support at $82,000 and upside potential toward $86,500 and $90,000 if broader sentiment stabilizes.”Other traders are awaiting a Bitcoin breakout above $84,500 as a signal for more upside momentum amid the ongoing tariff uncertainty.Magazine: Bitcoin ATH sooner than expected? XRP may drop 40%, and more: Hodler’s Digest, March 23 – 29

by Cointelegraph by Nancy Lubale on April 2, 2025 at 10:52 am

XRP (XRP) price fell 22% between March 19 and March 31, potentially forming a local bottom at $2.02. The price then increased by 9% to $2.20 before retracing to current levels. Has the popular altcoin finally bottomed out, or is there a deeper retracement in the cards? XRP bullish divergence on multiple timeframesThe XRP relative strength index (RSI) displays bullish divergence conditions in lower timeframes, according to analyst CasiTrades.A bullish divergence is when the asset’s price prints lower lows and the RSI produces higher lows, indicating that downward momentum is waning.“After reaching the 0.786 retrace at $2.05, XRP is printing bullish divergences from the 15-min all the way up to the 4-hour chart,” the analyst said in a March 31 post on X. CasiTrades notes that these signals are a positive indicator both for short-term bounces and potential macro recovery.“That’s the kind of signal we want to see for both short-term bottom and macro! The bounce is holding so far!”XRP/USD hourly chart. Source: CasiTradesShe added that $2.25 remains a key resistance level to watch, as breaching it with strong momentum would signal a convincing bullish breakout. “If we break above $2.25 with strong momentum, that would invalidate the need for another support retest, a very bullish sign,” CasiTrades said, adding that the demand zone between “$2.00 and $2.01 remains a support if the $2.05 doesn’t hold.”The analyst projects a bullish month for XRP in April, with targets of $2.70 and $3.80 in the short term.“Once the price reaches its target, I expect a large impulse to the upside!  Key resistance aligning to $2.70 and $3.80.”Related: XRP funding rate flips negative — Will smart traders flip long or short?Is the XRP local bottom in?Despite XRP’s recent recovery from local lows, the risk of a deeper correction remains, according to veteran trader Peter Brandt.Last week, Brandt said the presence of a “textbook” head-and-shoulders pattern (H&S) could see XRP price as low as $1.07.This potential H&S pattern is still in play on the daily chart (see below) and will be completed on a break and close below the neckline at $1.90. If the price stays below the neckline, the pair could plummet to $1.50 and then to the pattern’s target of $1.07.Brandt said:“Below $1.9, I would not want to own it. H&S projects to $1.07. Don't shoot the messenger.”XRP/USD daily chart with H&S pattern. Source: Cointelegraph/TradingViewBrandt said this bearish chart pattern would be invalidated if buyers push and maintain the price above $3.00.Meanwhile, macroeconomic headwinds from US tariffs on April 2 may spook traders, pulling the XRP price toward $1.31.Not everyone agrees. Analyst Dark Defender shared a positive outlook, saying that XRP price is likely to revisit the last Fibonacci level at $2.04 before bouncing back again.According to the analyst, a key resistance level for XRP is $2.22, which “should be broken” to ensure a sustained recovery toward the Wave 5 target at $8.“April-May will be hot, and our targets of Wave 5 stand at $5-8 levels, as expected.”XRP/USD daily chart. Source: Dark DefenderThis 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 2, 2025 at 10:46 am

Investment company VanEck filed to register a Delaware trust company for an exchange-traded fund (ETF) tracking Binance-linked BNB cryptocurrency.VanEck, on March 31, registered a new entity under the name VanEck BNB ETF in Delaware, according to public records on the official Delaware state website.In filing 10148820, the entity is registered as a trust corporate service company in Delaware, hinting at a potential spot BNB (BNB) ETF in the United States.VanEck BNB ETF trust registration in Delaware. Source: Delaware.govAccording to social media reports, VanEck is the first company to propose a potential BNB ETF in the US, potentially signaling an expansion of BNB Chain — formerly known as Binance Chain — across traditional financial products in the market.BNB ETP product already exists in EuropeWhile VanEck is the first to move toward a potential BNB ETF product in the US, similar products have been trading in Europe for several years.Prominent European crypto asset manager 21Shares launched a BNB exchange-traded product (ETP) in Switzerland in October 2019, according to TradingView.21Shares BNB ETP details. Source: TradingViewTradingView data suggests that 21Shares BNB ETP has only $15 million in assets under management (AUM), a 0.3% share of Switzerland’s total crypto AUM of $5.3 billion as of March 28, as reported by CoinShares.Related: Grayscale files S-3 for Digital Large Cap ETFThe product reportedly saw a significant drop in fund flows in the past year, totaling 537 million euros, or $580 million.What is BNB?Formerly known as Binance Coin, BNB is the native digital asset of the BNB Chain, which is now described as a “community-driven and decentralized blockchain ecosystem for Web3 decentralized applications.”BNB was launched by Binance in July 2017 as an ERC-20 token on the Ethereum blockchain as a tool to incentivize users to trade on their platform and pay for fees at a discounted rate.Five top crypto assets by market capitalization. Source: CoinGeckoAt the time of writing, BNB is the fifth-largest cryptocurrency asset by market capitalization, worth about $88 billion, according to CoinGecko.Altcoin filings surge with Trump administrationVanEck’s BNB ETF trust filing is just one of many new US altcoin ETF filings and registrations that have followed Donald Trump’s presidential inauguration in January.In early March, VanEck registered a similar Delaware trust for an ETF tracking the price of Avalanche (AVAX), also becoming one of the first companies to register such a trust.Many ETF issuers have filed for an XRP (XRP) ETF with the Securities and Exchange Commission, with at least nine companies submitting standalone XRP ETF filings as of March 12.Magazine: SEC’s U-turn on crypto leaves key questions unanswered

by Cointelegraph by Zoltan Vardai on April 2, 2025 at 9:32 am

The Bitcoin price may still rise to over $250,000 before the end of the year, with expectations of an increasing fiat supply remaining the significant catalyst for the world’s first cryptocurrency.Bitcoin’s (BTC) 2025 price rally may be boosted by the US Federal Reserve pivoting to quantitative easing (QE), when the Fed buys bonds and pumps money into the economy to lower interest rates and encourage spending during difficult financial conditions. “Bitcoin trades solely based on the market expectation for the future supply of fiat,” according to Arthur Hayes, co-founder of BitMEX and chief investment officer of Maelstrom.Hayes wrote in an April 1 Substack post:“If my analysis of the Fed’s major pivot from QT to QE for treasuries is correct, then Bitcoin hit a local low of $76,500 last month, and now we begin the ascent to $250,000 by year-end.”The Fed reduced the Treasury runoff cap to $5 billion per month from $25 billion effective April 1, while keeping mortgage-backed securities (MBS) runoff steady at $35 billion.The Fed may allow the MBS roll off without replacement and the excess principal payment might be reinvested into Treasurys, according to comments from Fed Chair Jerome Powell published by Reuters.“Mathematically, that keeps the Fed balance sheet constant; however, that is treasury QE. Bitcoin will scream higher once this is formally announced,” added Hayes.Related: Bitcoin’s next catalyst: End of $36T US debt ceiling suspensionOther analysts are eying a more conservative Bitcoin price top based on BTC’s correlation with the global liquidity index.BTC projected to reach $132,000 based on M2 money supply growth. Source: Jamie CouttsThe growing money supply could push Bitcoin’s price above $132,000 before the end of 2025, according to estimates from Jamie Coutts, chief crypto analyst at Real Vision.Related: Bitcoin ‘more likely’ to hit $110K before $76.5K — Arthur HayesFed will “flood the market with dollars” Hayes has been “buying Bitcoin and shitcoins at all levels between $90,000 to $76,500,” showcasing his conviction in the crypto market for the rest of 2025. The pace of capital deployment will increase or decrease depending on the accuracy of his predictions.“I still believe Bitcoin can hit $250,000 by year-end because now that the BBC has put Powell in his place, the Fed will flood the market with dollars,” wrote Hayes, adding:“That allows Xi Jinping to instruct the PBOC to stop tightening monetary conditions onshore to defend the dollar-yuan exchange rate, which increases the net quantity of yuan.”Despite the optimistic prediction, many market participants are betting on a lower Bitcoin price top for the end of 2025.Source: PolymarketOnly 9% of traders have placed bets on Bitcoin hitting $250,000, while 60% expect Bitcoin to hit $110,000 in 2025, according to Polymarket, the largest decentralized predictions market.Still, Bitcoin and global risk appetite remain pressured by global tariff fears ahead of US President Donald Trump’s upcoming tariff announcement, scheduled for April 2.“Long-term positioning remains intact, but near-term momentum appears tethered to unfolding macro headlines,” Stella Zlatareva, dispatch editor at digital asset investment platform Nexo, told Cointelegraph.Magazine: Bitcoin’s odds of June highs, SOL’s $485M outflows, and more: Hodler’s Digest, March 2 – 8

by Cointelegraph by Ezra Reguerra on April 2, 2025 at 9:06 am

South Korea’s 7-Eleven stores will accept payments in the country’s central bank digital currency (CBDC) until June, as the retailer participates in the test phase of its CBDC project. The convenience store chain will reportedly provide a 10% discount on all products paid for with CBDC during the test period. According to Moon Dae-woo, head of 7-Eleven’s digital innovation division, the company is making an effort to incorporate digital technology advancements in its operations. The executive added that the company’s participation in the CBDC test will help accelerate the firm’s digital transformation. Many stores will participate in South Korea’s CBDC testing phase, which runs from April 1 to June 30. The project also involves 100,000 participants who will be allowed to test payments using CBDC issued by the central bank. Central bank digital currencies are digital assets issued by government agencies. Like other digital assets, CBDCs offer faster and more modernized payment features. However, unlike Bitcoin and other privacy-focused tokens that offer certain levels of anonymity, CBDCs are controlled and monitored by governments. Related: Over 400 South Korean officials disclose $9.8M in crypto holdingsSouth Korea tests CBDC from April to JuneOn March 24, government agencies including the Bank of Korea, the Financial Services Commission (FSC) and the Financial Supervisory Service (FSS) announced the CBDC test. Participants can convert their bank deposits into tokens stored in a distributed ledger during the test period. The tokens hold the same value as the Korean won.The government agencies said citizens aged 19 or older with a deposit account in a participating bank could apply to take part. Registrations were limited to 100,000 participants. KB, Koomin, Shinhan, Hana, Woori, NongHyup, IBK and Busan are among the banks participating in the CBDC tests. Apart from 7-Eleven, participants can use their CBDCs in coffee shops, supermarkets, K-Pop merchandise stores and delivery platforms. However, users will be limited to a total conversion limit of 5 million won ($3,416) during testing. The Bank of Korea first announced the retail CBDC testing for 100,000 users in November 2023 and was originally scheduled to begin in the fourth quarter of 2024. The FSS said the country’s CBDC test represents a step toward creating a prototype for a “future monetary system.”Magazine: Ridiculous ‘Chinese Mint’ crypto scam, Japan dives into stablecoins: Asia Express

by Cointelegraph by Bradley Peak on April 2, 2025 at 8:50 am

Measuring decentralization in blockchain Decentralization involves spreading control and decision-making across a network instead of a single authority. Unlike centralized systems, where one entity controls everything, decentralized blockchains distribute data among participants (nodes). Each node holds a copy of the ledger, ensuring transparency and reducing the risk of manipulation or system failure.In blockchain, a decentralized network provides significant advantages:Security: Decentralization reduces vulnerabilities associated with central points of attack. Without a single controlling entity, malicious actors find it more challenging to compromise the network. ​Transparency: All transactions are recorded on a public ledger accessible to all participants, fostering trust through transparency. This openness ensures that no single entity can manipulate data without consensus. ​Fault tolerance: Decentralized networks are more resilient to failures. Data distribution across multiple nodes ensures that the system remains operational even if some nodes fail. ​So, decentralization is good, but it’s not a fixed state. It’s more of a spectrum, constantly shifting as network participation, governance structures and consensus mechanisms evolve.And yes, there’s a ruler for that. It’s called the Nakamoto coefficient. What is the Nakamoto coefficient? The Nakamoto coefficient is a metric used to quantify the decentralization of a blockchain network. It represents the minimum number of independent entities — such as validators, miners or node operators — that would need to collude to disrupt or compromise the network’s normal operation. This concept was introduced in 2017 by former Coinbase chief technology officer Balaji Srinivasan and was named after Bitcoin's creator, Satoshi Nakamoto. A higher Nakamoto coefficient indicates greater decentralization and security within the blockchain network. In such networks, control is more widely distributed among participants, making it more challenging for any small group to manipulate or attack the system. Conversely, a lower Nakamoto coefficient suggests fewer entities hold significant control, increasing the risk of centralization and potential vulnerabilities. ​For example, a blockchain with a Nakamoto coefficient of 1 would be highly centralized, as a single entity could control the network. In contrast, a network with a coefficient of 10 would require at least 10 independent entities to collude to exert control, reflecting a more decentralized and secure structure.​Did you know? Polkadot's high score on the Nakamoto coefficient is largely due to Polkadot's nominated proof-of-stake (NPoS) consensus mechanism, which promotes an even distribution of stakes among a large number of validators.  Calculating the Nakamoto coefficient Calculating this coefficient involves several key steps:​Identification of key entities: First, determine the primary actors within the network, such as mining pools, validators, node operators or stakeholders. These entities play significant roles in maintaining the network’s operations and security.Assessment of each entity’s control: Next, evaluate the extent of control each identified entity has over the network’s resources. For instance, in proof-of-work (PoW) blockchains like Bitcoin, this involves analyzing the hashrate distribution among mining pools. In proof-of-stake (PoS) systems it requires examining the stake distribution among validators.Summation to determine the 51% threshold: After assessing individual controls, rank the entities from highest to lowest based on their influence. Then, cumulatively add their control percentages until the combined total exceeds 51%. The number of entities required to reach this threshold represents the Nakamoto coefficient.Consider a PoW blockchain with the following mining pool distribution:Mining pool A: 25% (of the total hashrate)​Mining pool B: 20%​Mining pool C: 15%​Mining pool D: 10%​Others: 30%​To determine the Nakamoto coefficient:​Start with mining pool A (25%).​Add mining pool B (25% 20% = 45%).​Add mining pool C (45% 15% = 60%).​In this scenario, the combined hashrate of mining pools A, B and C reaches 60%, surpassing the 51% threshold. Therefore, the Nakamoto coefficient is 3, indicating that collusion among these three entities could compromise the network’s integrity. Did you know? ​Despite Bitcoin's reputation for decentralization, its mining subsystem is notably centralized. The Nakamoto coefficient is currently 2 for Bitcoin. This means that just two mining pools control most of Bitcoin's mining power. Limitations of the Nakamoto coefficient While the Nakamoto coefficient serves as a valuable metric for assessing blockchain decentralization, it possesses certain limitations that warrant careful consideration.​ For example: Static snapshotThe Nakamoto coefficient provides a static snapshot of decentralization, reflecting the minimum number of entities required to compromise a network at a specific point in time. However, blockchain networks are dynamic, with participant roles and influence evolving due to factors like staking, mining power shifts or node participation changes. Consequently, the coefficient may not accurately capture these temporal fluctuations, potentially leading to outdated or misleading assessments. ​Subsystem focusThis metric typically focuses on specific subsystems, such as validators or mining pools, potentially overlooking other critical aspects of decentralization. Factors like client software diversity, geographical distribution of nodes and token ownership concentration also significantly impact a network’s decentralization and security. Relying solely on the Nakamoto coefficient might result in an incomplete evaluation.Consensus mechanism variationsDifferent blockchain networks employ various consensus mechanisms, each influencing decentralization differently. The Nakamoto coefficient may not uniformly apply across these diverse systems, necessitating tailored approaches for accurate measurement. ​External InfluencesExternal factors, including regulatory actions, technological advancements or market dynamics, can influence decentralization over time. For example, regulatory policies in specific regions might affect the operation of nodes or mining facilities, thereby altering the network’s decentralization landscape. The Nakamoto coefficient may not account for such externalities, limiting its comprehensiveness.To sum up, the Nakamoto coefficient is useful for assessing certain aspects of blockchain decentralization. It should be used alongside other metrics and qualitative assessments to gain a comprehensive understanding of a network’s decentralization and security. 

by Jamie McKinnell on April 2, 2025 at 8:47 am

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.

on April 2, 2025 at 8:32 am

The expanded operation appeared at least partly aimed at increasing civilian pressure on its leaders amid signs of protest between Hamas and Gazans.  

by Cointelegraph by William Suberg on April 2, 2025 at 8:10 am

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

by Carly Williams on April 2, 2025 at 8:08 am

Professor Megan Davis says the government has walked away from a treaty process in favour of an economic empowerment agenda for Indigenous Affairs.

by Cointelegraph by Adrian Zmudzinski on April 2, 2025 at 8:07 am

The online store of a Singapore-based subsidiary of Japanese tech behemoth Sony is now accepting USDC payments through Crypto.com.According to an April 2 announcement, Sony Electronics Singapore now accepts USDC (USDC) stablecoin payments through an integration with the Crypto.com exchange. Crypto.com Singapore general manager Chin Tah Ang said:“We’re pushing to make paying in crypto more mainstream and partnering with a well-established and forward-thinking brand like Sony Electronics Singapore further raises awareness of how simple it can be to pay for everyday goods and services using crypto.”The Sony subsidiary is not the only high-profile partnership Crypto.com is involved in. At the end of 2024, the mobile-first crypto exchange partnered with Deutsche Bank to provide corporate banking services across Asian-Pacific markets, covering regions such as Singapore, Australia and Hong Kong.Related: CFTC mulling probe of Crypto.com over Super Bowl contracts: ReportSingapore bets on stablecoinsStill, the Singaporean Sony subsidiary allowing stablecoin payments may be the start of a new trend in the region. Late February reports indicated that Metro, a publicly listed department store chain in Singapore, had enabled its customers to pay for products using stablecoins like Tether’s USDt.The initiatives also follow January reports that Singapore is becoming a key destination for Web3 companies after it issued twice as many crypto licenses in 2024 as the previous year. William Croisettier, chief growth officer of ZKcandy, told Cointelegraph at the time:“The country adopts a risk-adjusted approach to crypto regulation, focusing on the biggest digital currencies to protect investors. Singapore also makes it easy for new crypto firms to interact with local banking partners, a provision considered a luxury in other parts of the world.”Related: Singapore Exchange to list Bitcoin futures in H2 2025: ReportAn emerging crypto hubIn late November, the crypto-friendly digital bank Singapore Gulf Bank reportedly sought a fund injection of at least $50 million as it planned to acquire a stablecoin payments company in 2025. The firm was motivated to pursue the effort, with plans to sell up to 10% of its equity to fund it.A study published at the end of 2024 revealed that its approach to regulation has made Singapore a global champion of blockchain technology. The country scored highest among all considered jurisdictions based on multiple factors.The top blockchain jurisdictions ranked based on patents, jobs, and exchanges. Source: ApeX ProtocolMagazine: Singapore ‘not ready’ for Bitcoin ETFs, sneaky crypto mining rig importer: Asia Express

by David Weber on April 2, 2025 at 8:02 am

Cassius Turvey was re-admitted to hospital for "urgent" surgery, hours after being released from Perth Children's Hospital in the days before his death.

by Kemii Maguire and David Iliffe on April 2, 2025 at 7:53 am

A Queensland shire bracing for rising rivers has lost almost a quarter of its important flood-monitoring cameras, thanks, the mayor suspects, to shooters who wrongly believe police are recording them. 

by Emma Rennie on April 2, 2025 at 7:39 am

A coronial inquest has begun into the death of man struck by cars on the M1 at Clothiers Creek after fleeing from a police pursuit in 2022.

by Anisha Pillarisetty, Lillian Rangiah, and Victoria Ellis on April 2, 2025 at 7:29 am

A seasonal shift after a sweltering summer has led to a slew of road closures across Central Australia, blocking off access routes. 

by Nadia Mitsopoulos on April 2, 2025 at 7:24 am

An education department directive that bans bikes and tricycles without chain and sprocket guards has led to the immediate cancellation of outdoor education programs, amid claims the directive goes too far.

by Patrick Bell and Aoife Hilton on April 2, 2025 at 7:23 am

The troubled Brindabella Christian College will close one of its campuses from Friday next week, after it was put under voluntary administration last month.

by Jessica Ross and Laura Lavelle on April 2, 2025 at 6:49 am

Premier David Crisafulli says primary producers hurt by flooding will have access to financial assistance, as a clearer picture of the devastation emerges.

by Patrick Martin and Will Jackson on April 2, 2025 at 6:45 am

The United States is sending a three-person disaster response team to earthquake-stricken Myanmar, days after much larger contingents from China and Russia began pulling people out of the rubble.

by Ned Hammond on April 2, 2025 at 6:41 am

Actor Val Kilmer, star of Top Gun and Tombstone, has died aged 65.

by Andrew Greene on April 2, 2025 at 6:35 am

American officials have continued to voice their concerns about the agreement signed with Beijing-controlled Landbridge since the election of Donald Trump.

by David Taylor on April 2, 2025 at 6:29 am

The RBA has said it may not cut interest rates again this year, but few are listening.

by Kate McKenna on April 2, 2025 at 6:28 am

Currently police are only allowed to use handheld metal detectors to search people for weapons without a warrant in some places, like shopping centres and train stations.  

by Emma Wynne on April 2, 2025 at 6:26 am

Building company Inspired Homes says it has gone into voluntary administration, allowing customers with long-overdue building projects to access funds and employ new builders.

by Laura Tingle on April 2, 2025 at 6:18 am

The pandemic then the war in Ukraine helped to kick off the current cost-of-living crisis. It will be front of mind for many voters this election, but is there really much politicians can do to ease it?

by Brittany Carter on April 2, 2025 at 6:16 am

Half of the eight teams in the Super Netball league will be impacted by pregnancy this season. So how will it affect your club? And is it time to update the parental policy that has been in place since 2018?

by Maani Truu on April 2, 2025 at 6:11 am

As Australia braces for Trump's trade call, Anthony Albanese and Peter Dutton have spent a day on the hustings in Melbourne. 

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 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 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