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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 Keane Bourke and Nicolas Perpitch on April 2, 2025 at 5:41 am

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

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

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

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

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

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

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

by Sundance on April 2, 2025 at 4:20 am

In an effort to keep the Daily Open Thread a little more open topic we are going to start a new daily thread for “Presidential Politics”. Please use this thread to post anything relating to the Donald Trump Administration and Presidency. This thread will refresh daily and appear above the Open Discussion Thread. Posted in The post April 2nd – 2025 Presidential Politics – Trump Administration Day 73 appeared first on The Last Refuge.

by Sundance on April 2, 2025 at 4:15 am

Our Father, who art in heaven, hallowed be thy Name. Thy kingdom come. THY WILL BE DONE, on earth as it is in heaven. Give us this day our daily bread. And forgive us our trespasses, as we forgive those who trespass against us. And lead us not into temptation, but DELIVER US FROM EVIL. The post Wednesday April 2nd – Open Thread appeared first on The Last Refuge.

by Sundance on April 2, 2025 at 4:08 am

Republican Randy Fine, a state senator, defeated Democrat and teacher Josh Weil in a special election that attracted national attention and millions of dollars. Leftist candidate Josh Weil raised almost 10 times as much money as Fine; however, with the votes counted Randy Fine won by 14 points [DATA]. Republican Jimmy Patronis also won a The post Republicans Retain Two House Seats with Florida Special Election Victories appeared first on The Last Refuge.

by Sundance on April 2, 2025 at 4:05 am

Kid Rock appears on Stuart Varney show to discuss a dinner he helped organize between President Trump, Bill Maher, Dana White and himself. According to Kid Rock the dinner went great, and everyone participating talked about the commonality of the things at the core of MAGA, economic security, border security, elimination of cultural Marxism and The post Kid Rock Gives His Impression of President Trump Dinner with Bill Maher appeared first on The Last Refuge.

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

Several British trade associations have asked Prime Minister Keir Starmer’s office to appoint a special envoy dedicated to crypto and for a dedicated action plan for digital assets and blockchain technology.In a March 31 letter, the coalition of six UK digital economy trade bodies urged Starmer’s special adviser on business and investment, Varun Chandra, for a “greater strategic focus and alignment to deliver investment, growth and jobs” for the crypto industry. The group, which consisted of the UK Cryptoasset Business Council, Global Digital Finance, The Payments Association, Digital Currencies Governance Group, the Crypto Council for Innovation and techUK, noted the US policy shift on crypto under President Donald Trump and his appointment of a crypto czar.Britain’s commitment to an economic trade deal focused on technological cooperation with the US “presents a significant opportunity to mirror the United States’ ambition in fostering leadership in blockchain, digital assets, and other emerging financial technologies,” the letter stated. The group recommended that the UK appoint a blockchain special envoy, similar to the US, to coordinate policy, foster innovation, and position the country competitively in global markets.The trade bodies also called for the development of a dedicated government action plan for crypto and blockchain technology, including a concierge service to attract high-potential firms.They added that the government should acknowledge and leverage the commonalities between blockchain, quantum computing and artificial intelligence technologies, including potential applications for government services.Another recommendation was to create a high-level industry-government-regulator engagement forum to ensure informed decision-making and cross-sector collaboration.The UK crypto and tech associations lobbying the government for a policy shift. Source: LinkedIn“With deep pools of talent, access to capital, world-class academic institutions, and sophisticated regulators, the UK provides an environment where digital assets and blockchain innovation can thrive,” they stated. Related: UK should tax crypto buyers to boost stock investing, economy, says bankerCrypto a $74 billion opportunity, industry group saysThe coalition argues that crypto and blockchain technology could boost the UK economy by 57 billion British pounds ($73.6 billion) over the next decade, with the sector potentially increasing global gross domestic product by 1.39 trillion pounds ($1.8 trillion) by 2030.Tom Griffiths, the co-founder and managing partner of crypto compliance advisory firm BitCompli, said in response to the letter on LinkedIn that the Financial Conduct Authority “has a lot of talent and a good sight of future plans, but the UK is definitely losing pace with Dubai, Singapore, and other EU jurisdictions.”“Now is the time for the FCA to act, or the UK will lose out on this huge opportunity, which is digital assets and all the benefits this sector can bring, not only now but over the next 20 years,” he added.Magazine: Bitcoin ATH sooner than expected? XRP may drop 40%, and more: Hodler’s Digest, March 23 – 29

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

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

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

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

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

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

by Sundance on April 1, 2025 at 11:01 pm

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

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

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

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

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

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

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

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

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