Alternative News for You

by Grace Atta on April 18, 2025 at 5:08 am

This year marks a special Easter for Australia's Christian community, with both Western and Orthodox churches marking the event this weekend. And of course, it wouldn't be Good Friday without a seafood feast.

on April 18, 2025 at 5:03 am

Jesse Hogan is ruled out of the final squad for GWS as they play the Crows in Adelaide.

by Simon Smale on April 18, 2025 at 4:59 am

A massive crowd is expected at the Sydney Olympic stadium for the big Good Friday NRL clash between Canterbury Bankstown Bulldogs and the South Sydney Rabbitohs. Follow all the action in our live blog.

by Cointelegraph by Stephen Katte on April 18, 2025 at 4:50 am

Yemeni citizens are increasingly using decentralized finance (DeFi) protocols to bank themselves amid US sanctions aimed at the Houthi group, which they have deemed a terrorist organization. In the past, internet infrastructure challenges and low financial literacy among the war-torn population contributed to relatively limited crypto adoption, according to an April 17 report from blockchain intelligence firm TRM Labs.“However, there are signs of growing interest and usage driven primarily by necessity rather than speculation,” the blockchain intelligence firm said. “For those who use cryptocurrencies in Yemen, the ability to bypass the disruption in local financial services offers a modicum of financial resilience, especially as banks can be difficult to access or are simply inoperable due to the ongoing conflict.” Yemen has been in a civil war between the government and the Houthi group since September 2014. The US has also frequently sanctioned financial infrastructure in the country to disrupt Houthi activity, with the most recent action on April 17 hitting the International Bank of Yemen.DeFi platforms account for most of Yemen’s crypto-related web traffic, taking up over 63% of observed activity, while global centralized exchanges account for 18% of crypto-related web traffic, TRM Labs data shows.DeFi platforms account for most of Yemen’s crypto-related web traffic, followed by centralized exchanges. Source: TRM LabsSome local Yemenis also use peer-to-peer crypto transactions to move funds across borders or conduct remittances.“Although these interactions do not necessarily imply high transaction volumes, they reinforce that for some individuals in Yemen, decentralized infrastructure may provide a necessary alternative to traditional payment rails,” TRM Labs said.“The interest in DeFi services may reflect the appeal of systems that allow users to transact without intermediaries, particularly where local banking institutions are inaccessible or unreliable.” Increasing sanctions could spark higher crypto adoption in Yemen Currently, Yemen doesn’t have legislation in place for the use of crypto; TRM Labs speculates that increasing sanctions against the Houthis could be the spark that ignites higher crypto adoption in Yemen.Following the Biden administration’s relisting of the Houthis as a Specially Designated Global Terrorist in January 2024, a Yemen-based cryptocurrency exchange tracked by TRM experienced a 270% increase in overall volume, the blockchain intelligence firm said. Related: US DOJ says it seized Hamas crypto meant to finance terrorismIt eventually returned to pre-spike levels, but it saw another uptick again, this time by 223%, in the three months following the election of US President Donald Trump and the reinstating of the Houthis as a foreign terrorist organization by the US on Jan. 22. “Given the intensifying international sanctions on the Houthis and their primary backer, Iran, the group’s use of cryptocurrency is likely to grow in both scale and sophistication,” TRM Labs said. “As traditional financial avenues become increasingly restricted, decentralized digital currencies offer an alternative that is less susceptible to oversight and harder to trace.” Magazine: Terrorism and the Israel-Gaza war have been weaponized to destroy crypto

by Dean Bilton and Luke Pentony on April 18, 2025 at 4:44 am

North Melbourne and Carlton have four points on the line in their now-traditional match which also raises money for the Good Friday Appeal. Follow live.

by Cointelegraph by Ciaran Lyons on April 18, 2025 at 4:39 am

Bitcoin’s relatively stable price movements despite macroeconomic uncertainty is likely due to resilient spot Bitcoin ETF holders and Michael Saylor’s firm continuing to buy aggressively, according to a Bloomberg analyst.“The ETFs and Saylor have been buying up all ‘dumps’ from the tourists, FTX refugees, GBTC discounters, legal unlocks, govt confiscations and Lord knows who else,” Bloomberg ETF analyst Eric Balchunas said in an April 16 X post.Bitcoin ETF holders hold despite market volatilityBalchunas pointed out that spot Bitcoin (BTC) ETFs have attracted $131.04 million over the past 30 days and are up $2.4 billion since Jan. 1. Balchunas called this “impressive,” noting it helps explain why Bitcoin has “been relatively stable.”“Its owners are more stable,” Balchunas said. Balchunas said Bitcoin ETF investors have “much stronger hands than most people think.” He said this “should” increase the stability and lower Bitcoin’s volatility and correlation in the long term. As of April 16, Bitcoin ETFs saw a total of $131.04 million in inflows over the past 30 days. Source: Eric BalchunasSaylor’s firm, Strategy, made its latest Bitcoin purchase on April 14, acquiring 3,459 BTC for $285.5 million at an average price of $82,618 per coin. According to Saylor Tracker, Strategy holds 531,644 Bitcoin at the time of publication.The Bitcoin Volatility Index, which measures Bitcoin’s volatility over the previous 30 days, is at 1.80% at the time of publication, according to Bitbo data. At the time of publication, Bitcoin is trading at $84,610, according to CoinMarketCap data. Over the past 30 days, Bitcoin has traded between $75,000 and $88,000 amid macroeconomic uncertainty primarily driven by US President Donald Trump’s imposed tariffs and ongoing questions about the future of US interest rates. Despite this, Bitcoin has remained above its previous all-time high of $73,679, first surpassed in November.Bitcoin is trading at $84,610 at the time of publication. Source: CoinMarketCapParticipants in the broader financial market have also expressed surprise at Bitcoin’s relative strength in recent times, particularly in comparison to the S&P 500.Stock market commentator Dividend Hero told his 203,200 X followers on April 5, after Trump’s “Liberation Day,” that he has “hated on Bitcoin in the past, but seeing it not tank while the stock market does is very interesting to me.”Related: When gold price hits new highs, history shows ‘Bitcoin follows’ within 150 days — AnalystThis 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 Vanessa Jarrett on April 18, 2025 at 4:08 am

A case of the serious Japanese encephalitis virus has been recorded in a pig at a Banana Shire farm.

on April 18, 2025 at 3:43 am

Kilmar Abrego Garcia, who was wrongly deported by the Trump administration despite a court order, has met with a Democratic senator in El Salvador.

on April 18, 2025 at 3:28 am

Take inspiration from two very different balcony gardens in Naarm/Melbourne that have been designed to feel like a garden on the ground.

on April 18, 2025 at 3:19 am

Saints coach Ross Lyon tells critics to get back in their boxes as the timeline for Max King's return is revealed.

by Cointelegraph by Martin Young on April 18, 2025 at 3:12 am

Crypto research firm Galaxy Research has made a proposal to adjust the voting system that decides the outcome of future Solana inflation following the failure to come to a consensus in a previous vote.On April 17, Galaxy introduced a Solana proposal called “Multiple Election Stake-Weight Aggregation” (MESA) to reduce the inflation rate of its native token, SOL (SOL). The researchers described the proposal as a “more market-based approach to agreeing on the rate of future SOL emissions.”Rather than using traditional yes/no voting for inflation rates, MESA allows validators to vote on multiple deflation rates and uses the weighted average as the outcome.“Instead of cycling through inflation reduction proposals until one passes, what if validators could allocate their votes to one or many changes, with the aggregate of ‘yes’ outcomes becoming the adopted emissions curve?” Galaxy explained.  The motivation for the concept comes from a previous proposal (SIMD-228), which showed community agreement that SOL inflation should be reduced, but the binary voting system couldn’t find consensus on specific parameters. SIMD-228 proposed to change Solana’s inflation system from a fixed schedule to a dynamic, market-based model. The new proposal suggests maintaining the fixed, terminal inflation rate at 1.5% and sets forth multiple outcomes that create multiple ‘yes’ voting options with different deflation rates from which an average is aggregated if a quorum is reached. For example, if 5% vote for no change, remaining at 15% deflation, 50% vote for a 30% deflation rate, and 45% vote for 33%, the new deflation rate would be calculated as the aggregate at 30.6%. The target is to reach the terminal rate of 1.5% supply inflation. Predicted inflation curves under new voting proposal. Source: Galaxy Digital Solving problems with binary voting The benefits are that a more market-driven system allows validators to express preferences along a spectrum rather than with binary choices, while maintaining predictability with a fixed inflation curve.“Galaxy Research seeks to suggest a genuinely alternative process to achieving what we believe is the community’s broad goal, and not necessarily proscribe any particular inflation rate outcome,” the firm explained. Related: Solana upgrades will strengthen network but squeeze validators — VanEckUnder the current mechanism, supply inflation begins at 8% annually, decreasing by 15% per year until it reaches 1.5%. Solana’s current inflation rate is 4.6%, and 64.7% of the total supply, or 387 million SOL, is currently staked, according to Solana Compass. Galaxy affiliate Galaxy Strategic Opportunities provides staking and validation services for Solana.Magazine: Memecoin degeneracy is funding groundbreaking anti-aging research

by Maddie Nixon on April 18, 2025 at 3:00 am

From hopping roos to leathered locals, a French photographer fell in love with the outback one shot at a time.

on April 18, 2025 at 2:53 am

Police are investigating the circumstances around a woman's death after a house fire in the Alice Springs suburb of Sadadeen.

by Max Walden on April 18, 2025 at 2:44 am

While 70 per cent of Australians surveyed hold a "very unfavourable" view of Russia, that's only the case for 6 per cent of Indonesians.

on April 18, 2025 at 2:43 am

Manly forward Toafofoa Sipley has bypassed the grading procress and is facing the prospect of a lengthy suspension following his hip drop tackle on St George Illawarra winger Mat Feagai.

by Cointelegraph by Brayden Lindrea on April 18, 2025 at 2:14 am

Update (April 18 at 3:28 am UTC): This article has been updated to include a comment from Bitcoin Laws founder Julian Fahrer. One of Arizona’s crypto reserve bills has been passed by the House and is now one successful vote away from heading to the governor’s desk for official approval.Arizona's Strategic Digital Assets Reserve Bill (SB 1373) was approved on April 17 by the House Committee of the Whole, which involves 60 House members weighing in on the bill before a third and final reading and a full floor vote.Source: Bitcoin LawsSB 1373 seeks to establish a Digital Assets Strategic Reserve Fund made up of digital assets seized through criminal proceedings to be managed by the state’s treasurer. Arizona’s treasurer would be permitted to invest up to 10% of the fund’s total monies in any fiscal year in digital assets. The treasurer would also be able to loan the fund’s assets in order to increase returns, provided it doesn’t increase financial risks.However, a Senate-approved SB 1373 may be set back by Arizona Governor Katie Hobbs, who recently pledged to veto all bills until the legislature passes a bill for disability funding.Hobbs also has a history of vetoing bills before the House and has vetoed 15 bills sent to her desk this week alone.Bitcoin Laws founder and Apollo CEO Julian Fahrer told Cointelegraph that he expects SB 1373 will pass the House, though it may merge with another crypto-related bill, such as SB 1062, which aims to expand the definition of legal tender to include crypto.Arizona is the new leader in the state Bitcoin reserve raceSB 1373 has been passing through Arizona’s legislature alongside the Arizona Strategic Bitcoin Reserve Act (SB 1025), which only includes Bitcoin (BTC).The bill proposes allowing Arizona’s treasury and state retirement system to invest up to 10% of the available funds into Bitcoin.SB 1025 also passed Arizona’s House Committee of the Whole on April 1 and is awaiting a full floor vote.Related: Binance helps countries with Bitcoin reserves, crypto policies, says CEORace to establish a Bitcoin reserve at the state level. Source: Bitcoin LawsUtah passed Bitcoin legislation on March 7 but scrapped the cornerstone provision establishing the Bitcoin reserve in the final reading.The Texas Senate passed a Bitcoin reserve bill on March 6, while a similar bill recently passed through New Hampshire’s House.While Arizona has seen the most progress, Fahrer believes the Texas bill has the best shot at being signed into law, noting that it has seen the “fewest explicit roadblocks” thus far.Magazine: Crypto ‘more taboo than OnlyFans,’ says Violetta Zironi, who sold song for 1 BTC

by Cointelegraph by Stephen Katte on April 18, 2025 at 2:10 am

Slovenia’s Finance Ministry is considering a possible 25% tax on crypto trading profits for residents in the country under a new draft law now open for public consultation. The bill proposes to tax traders when they sell their cryptocurrency for fiat or pay for goods and services, but crypto-to-crypto and transfers between wallets owned by the same user will be exempt, Slovenia’s Finance Ministry said in an April 17 statement.Under the proposed legislation, crypto tax will be aligned with existing tax laws. Slovenia taxpayers will be required to keep a record of all their transactions for annual tax returns. The tax base would be calculated on profits by subtracting the purchase price from the sale price. In a statement to the Slovenia Times, finance minister Klemen Boštjančič said it’s unreasonable that crypto trading for individuals isn’t currently taxed in the country. “The goal of taxation of crypto assets is not to generate tax revenue, but we find it illogical and unreasonable that one of the most speculative financial instruments is not taxed at all,” he said in a statement translated from Slovenian. New tax could stifle crypto in Slovenia, lawmaker says Jernej Vrtovec, a member of Slovenia’s national assembly and New Slovenia opposition party, slammed the proposal in an April 16 statement to X, arguing it could stifle crypto growth in the country. “Slovenia has the opportunity to become a crypto-friendly country, but with the government’s proposals, we will miss the train again,” he said in a post also translated from Slovenian. “With excessive taxation, we will once again see young people and capital fleeing abroad. Taxes should encourage, not stifle.” Source: Jernej VrtovecThe proposal is open to public consultation until May 5. If Slovenian lawmakers pass the bill, it will go into effect on Jan. 1, 2026. Slovenia introduced a 10% tax on crypto withdrawals and payments in 2023, but capital gains from occasional crypto trading are not taxed, according to the crypto tax platform Token Tax. Related: NFT trader faces prison for $13M tax fraud on CryptoPunk profitsCrypto activity can also currently be exempt from tax if it's considered a hobby. Business activity, such as mining or staking, is subject to income tax. A previous bill proposed in April 2022 planned to levy a 5% tax on profits over 10,000 euros ($11,372), but it was never passed into law. Slovenia issued the first digital sovereign bond in the European Union on July 25 last year. It had a nominal size of 30 million euros ($32.5 million) with a 3.65% coupon and a maturity date of Nov. 25 that year. The number of crypto users in Slovenia is projected to reach roughly 98,000 in 2025, according to online data platform Statista, with a penetration rate of 4.6% among its population of 2.12 million people. While the projected revenue for the country's crypto market is slated to hit $2.8 million. Magazine: How crypto laws are changing across the world in 2025

by Yasmin Jeffery on April 18, 2025 at 2:01 am

Jon Hamm returns to what he does best in his latest drama series — with one big twist. Let us tell you about Your Friends and Neighbors and the other best new series ready for streaming this Easter long weekend.

by Philippe Perez and Annie Brown on April 18, 2025 at 2:00 am

Young people in Albury say issues that directly affect them and their communities are not being addressed by major parties for the 2025 election campaign.

on April 18, 2025 at 1:33 am

A 75-year-old man has died in hospital after being hit and critically injured by a car in Hobart's CBD 10 days ago.

on April 18, 2025 at 1:26 am

Brisbane Lions star Lachie Neale has delivered a scathing take-down of the online abuse faced by his teammates following their loss to Collingwood on Thursday night.  

by Lachlan Bennett on April 18, 2025 at 1:15 am

Plans to expand automated decision-making in New Zealand's welfare sector has charities and legal experts concerned.

on April 18, 2025 at 1:05 am

A woman has died and a man is missing after three people were swept into the ocean at San Remo, south-east of Melbourne, on Friday morning.

by Brianna Morris-Grant on April 18, 2025 at 12:44 am

Artificial intelligence is a scammer's newest tool as experts warn they can generate fake photos, voice clones, phishing emails and fake websites “at an increasingly rapid rate”. 

by Danielle Mahe on April 18, 2025 at 12:30 am

It has been more than a month since ex-Tropical Cyclone Alfred turned the Gold Coast's beaches into rugged cliffs and now work to replace the sand has been delayed ahead of powerful swells.

by Cointelegraph by Biraajmaan Tamuly on April 18, 2025 at 12:27 am

Bitcoin’s (BTC) realized market cap reached a new all-time high of $872 billion, but data from Glassnode reflects investors’ lack of enthusiasm at BTC’s current price levels. In a recent X post, the analytics platform pointed out that despite the realized cap milestone, the monthly growth rate of the metric has dropped to 0.9% month over month, which implied a risk-off sentiment in the market. Bitcoin realized cap net position. Source: X.comRealized cap measures the total value of all Bitcoin at the price they last moved, reflecting the actual capital invested, providing insight into Bitcoin’s economic activity. A slowing growth rate highlights a positive but reduced capital inflow, suggesting fewer new investors or less activity from current holders.Additionally, Glassnode’s realized profit and loss chart recently exhibited a sharp decline of 40%, which signals high profit-taking or loss realization. The data platform explained,“This suggests saturation in investor activity and often precedes a consolidation phase as the market searches for a new equilibrium.”While new investors remained sidelined, existing investors are probably adopting a cautious approach due to the short-term holder’s realized price. Data from CryptoQuant suggested that the current short-term realized price is $91,600. With BTC currently consolidating under the threshold, it implies short-term holders are underwater, which can increase selling pressure if they sell to cut their losses.Bitcoin short-term holders’ price and MVRV. Source: CryptoQuantSimilarly, Bitcoin's short-term holder market value to realized value remained below 1, a level historically associated with buying opportunities and further proof that short-term holders are at a loss.Related: Bitcoin US vs. offshore exchange ratio flashes bullish signal, hinting at BTC price highs in 2025Bitcoin chops between US and Korean tradersData shows a sentiment divergence between Bitcoin traders in the US and Korea. The Coinbase premium, reflecting US trading, recently spiked, signaling strong US demand and potential Bitcoin price gains. Conversely, the Kimchi premium index fell during the correction, indicating lagging retail engagement among Korea-based traders.This particular uneven demand is reflected in Bitcoin’s recent price action. The chart shows that Bitcoin’s price has oscillated between a tight range of $85,440-$82,750 since April 11. On the 4-hour chart, BTC has retained support from the 50-day, 100-day, and 200-day moving averages, but on the 1-day chart, these indicators are putting resistance on the bullish structure.Bitcoin 4-hour chart. Source: Cointelegraph/TradingViewRelated: Bitcoin online chatter flips bullish as price chops at $85K: SantimentThis article does not contain investment advice or recommendations. Every investment and trading move involves risk, and readers should conduct their own research when making a decision.

on April 18, 2025 at 12:26 am

Five armed men, dressed in black kidnapped a mother from her family home in Bankstown while her two sons watched on, with the younger one also subjected to violence.

by Cointelegraph by Brayden Lindrea on April 18, 2025 at 12:23 am

Kyrgyzstan President Sadyr Zhaparov has signed a constitutional law authorizing the launch of a central bank digital currency pilot project while also giving the “digital som” — the national currency in digital form — legal tender status.The law gives the National Bank of the Kyrgyz Republic the exclusive right to issue the digital som, establish the rules for its issuance and circulation, and oversee the platform on which the national currency will operate, Kyrgyzstan’s presidential office said on April 17.However, a final decision on whether to officially issue the CBDC is not expected until the end of 2026, local outlet Trend News Agency reported in December.If the central bank decides to adopt the digital som, it would also need to outline cryptographic protection measures to ensure the digital som remains secure and isn’t used for fraudulent transactions.Testing of the digital som platform is expected to take place sometime this year.Zhaparov’s sign-off comes nearly a month after Kyrgyzstan’s parliament, the Jogorku Kenesh, approved the amendment to Kyrgyzstan’s constitutional law on March 18.CBDCs continue to be heavily criticized by some members of the crypto community, flagging concerns that they could undermine financial privacy and enable excessive government oversight, among other things.While 115 nations have initiated CBDC projects, only four CBDCs have officially launched — the Bahamas Sand Dollar, Nigeria’s e-Naira, Zimbabwe’s ZiG and Jamaica’s JAM-DEX, data from cbdctracker.org shows.Over 90 CBDC projects are yet to move past the research stage.Kyrgyzstan continues to make moves in cryptoEarlier this month, former Binance CEO Changpeng “CZ” Zhao said he would begin advising Kyrgyzstan on blockchain and crypto-related regulation after signing a memorandum of understanding with the country’s foreign investment agency.Zhaparov said the initiative would assist with the growth of the economy and the security of virtual assets, “generating new opportunities for businesses and society as a whole.”Source: Sadyr ZhaparovRelated: Bitcoin price levels to watch as Fed rate cut hopes fadeThe mountainous, land-locked country is considered well-suited for crypto mining operations due to its abundant renewable energy resources, much of which is underutilized.Over 30% of Kyrgyzstan’s total energy supply comes from hydroelectric power plants, but only 10% of the country’s potential hydropower has been tapped, according to a report by the International Energy Agency.Magazine: Your AI ‘digital twin’ can take meetings and comfort your loved ones

on April 18, 2025 at 12:20 am

Erik and Lyle Menendez's bid for shorter sentences and a shot at freedom has been delayed again due to disputes among prosecutors and the brothers' lawyers.

by Eugene Boisvert and Conor Burke on April 18, 2025 at 12:15 am

Dry but cool conditions in South Australia's south east are causing ladybirds to gather in huge numbers, which an ecologist says will help control a destructive plant pest.

by Danielle Mahe, Nicole Dyer, and Chloe Maxwell on April 18, 2025 at 12:00 am

Show-cause notices have been sent to property owners running small-scale campsites in Queensland's Scenic Rim, but they say the regulations are unfair and should only apply to tourist parks.

by Alistair Bates and Lina Elsaadi on April 17, 2025 at 11:50 pm

The future of remote WA surfing hotspot "Tombstones" hangs in the balance as locals hope the future buyer of the station connected to it will keep accommodation affordable.

by Cointelegraph by Vince Quill on April 17, 2025 at 10:25 pm

OpenAI was reportedly in talks to buy Anysphere, the company that produces the Cursor AI coding assistant, before entering into talks with rival company WindSurf.According to CNBC, OpenAI approached Anysphere in 2024 and again in 2025, but talks stalled both times. Failing to arrive at a deal led OpenAI to look elsewhere for potential acquisitions.Sources familiar with the deal also say OpenAI is prepared to pay $3 billion to purchase WindSurf, which would make it the company's largest corporate acquisition to date.An example of OpenAI’s ChatGPT producing computer code through simple text prompts. Source: ChatGPTOpenAI's attempted acquisition of an AI coding assistant company follows the release of DeepSeek R1 in January 2025, which shattered long-held assumptions about artificial intelligence.DeepSeek was reportedly trained at a fraction of the cost of leading AI models while delivering comparable performance — challenging the belief that scaling requires massive computing power, rattling financial markets, and raising questions about the billions spent by US AI giants.Related: OpenAI to release its first ‘open’ language model since GPT-2 in 2019OpenAI inches toward profitability but cheaper competitors still a challengeOpenAI expects to triple its revenue in 2025 to approximately $12.7 billion by selling paid subscriptions for its leading AI models to individuals and businesses.The company surpassed 1 million premium business subscribers in September 2024. However, OpenAI CEO Sam Altman said the AI giant might not be profitable until 2029.According to Altman, OpenAI needs revenues of approximately $125 billion to turn a profit on its capital-intensive business.In February 2025, Altman said that AI development costs were dropping dramatically. “The cost to use a given level of AI falls about 10x every 12 months," the CEO wrote in a Feb. 9 blog post.Despite this, high costs and centralization issues continue to plague large-scale corporate AI developers, who must compete with more nimble open-source counterparts.Dr. Ala Shaabana — co-founder of the OpenTensor Foundation — recently told Cointelegraph that the release of DeepSeek solidified open-source AI as a serious contender against centralized AI systems.Shaabana added that the lower cost of open-source systems proves that AI does not need billions of dollars to scale or achieve high-performance benchmarks.Magazine: 9 curious things about DeepSeek R1: AI Eye

by Menagerie on April 17, 2025 at 10:00 pm

Tradition says that Jesus prayed this prayer the night he spent, imprisoned in the custody of Caiaphas the high priest, abandoned by his followers, alone. As we prepare for the suffering of Good Friday to come, may we also prepare, as Jesus did, not to turn away from suffering, but to abandon ourselves to the The post Holy Thursday appeared first on The Last Refuge.

by Cointelegraph by Turner Wright on April 17, 2025 at 9:59 pm

Cryptocurrency exchange eXch announced it will cease operations on May 1 after reports alleged the firm was used to launder funds from a Bybit hack.In an April 17 notice, eXch said the majority of people in its management team voted to “cease and retreat” in response to the allegations that North Korea’s Lazarus Group used the exchange to launder roughly $35 million of the funds stolen in a $1.4 billion exploit on Bybit. The exchange said it was the subject of “an active transatlantic operation” aimed at shutting it down and potentially pursuing charges.“Even though we have been able to operate despite some failed attempts to shut down our infrastructure (attempts that have also been confirmed to be part of this operation), we don’t see any point in operating in a hostile environment where we are the target of SIGINT [Signals Intelligence] simply because some people misinterpret our goals,” said eXch.Related: North Korean hackers target crypto devs with fake recruitment testsThe exchange initially denied reports from crypto sleuths suggesting that it had laundered digital assets for the Lazarus Group, but admitted to processing an “insignificant portion of funds” from the February hack. Individuals from eXch’s management team emphasized its focus on user privacy in announcing the shutdown, claiming that some exchanges “abus[e] customers with nonsensical policies” in their attempts to fight money laundering.The biggest hack in crypto historyThe Bybit hack, one of the largest in the history of the crypto industry, resulted in more than $5 billion in withdrawals from users, including the stolen funds. CEO Ben Zhou said on Feb. 22 that the exchange had the means to “cover the loss” if the funds were not recovered. However, the firm later announced it would shutter some of its Web3 services and close its non-fungible token marketplace.As of April 10, Bybit had regained its market share achieved before the hack: roughly 7%. The exchange paid more than $2 million to bounty hunters providing information that could be used to freeze some of the funds traceable to other platforms, which was estimated to be roughly 89% of the $1.4 billion as of March 20.Magazine: Your AI’ digital twin’ can take meetings and comfort your loved ones

by Cointelegraph by Cointelegraph on April 17, 2025 at 9:48 pm

Today in crypto, US President Donald Trump slammed the Federal Reserve chair for delaying rate cuts. CoinGecko says investor focus remains on memecoins and AI in early 2025. Meanwhile, Coinbase is distancing Base from a token it was criticized for promoting.Trump blasts ‘too late’ Powell for not cutting interest ratesUS President Donald Trump renewed his criticism of Federal Reserve Chair Jerome Powell, accusing him of being too slow to cut interest rates and escalating a long-running conflict that risks undermining the central bank’s political independence.With the European Central Bank (ECB) cutting interest rates again on April 17, “Too Late” Powell has failed to act appropriately in the United States, even with inflation falling, Trump said on Truth Social on April 17. “Powell’s termination cannot come fast enough!” Trump said.Florida Senator Rick Scott agreed with the president, saying, “it’s time for new leadership at the Federal Reserve.”Source: realDonaldTrumpTrump’s public criticism of the Fed breaks a decades-long convention in American politics that sought to safeguard the central bank from political scrutiny, which includes any executive decision to replace the chair. In an April 16 address at the Economic Club of Chicago, Powell said Fed independence is “a matter of law.” Powell previously signaled his intent to serve out the remainder of his tenure, which expires in May 2026. AI tokens, memecoins dominate crypto narratives in Q1 2025: CoinGeckoThe cryptocurrency market is recycling old narratives, with few new trends emerging to replace the leading themes in the first quarter of 2025.Artificial intelligence tokens and memecoins were the dominant crypto narratives in the first quarter of 2025, accounting for 62.8% of investor interest, according to a quarterly research report by CoinGecko. AI tokens captured 35.7% of global investor interest, overtaking the 27.1% share of memecoins, which remained in second place.Out of the top 20 crypto narratives of the quarter, six were memecoin categories while five were AI-related.AI tokens, memecoins, were leading crypto narratives in Q1 2025: CoinGecko“Seems like we have yet to see another new narrative emerge and we are still following past quarters’ trends,” said Bobby Ong, the co-founder and chief operating officer of CoinGecko, in an April 17 X post. “I guess we are all tired from the same old trends repeating themselves.”Interest in memecoins saw a sharp increase ahead of US President Donald Trump’s inauguration on Jan. 20 after his team launched the Official Trump (TRUMP) memecoin on Jan. 18 and the Official Melania (MELANIA) token on Jan. 19 on the Solana network.However, some industry watchers are concerned that memecoins are draining capital from utility tokens, such as Solana (SOL), limiting their price potential.Coinbase distances Base from highly criticized memecoin that dumped $15 millionCrypto exchange Coinbase has distanced its blockchain network Base from a memecoin it shared on X on April 16 that saw massive backlash after the token rapidly gained, then dropped in value.Base shared an image on X with its marketing tagline, “Base is for everyone,” alongside a link to a token of the same name on Zora, a social network where users can make posts into crypto tokens.The token hit a peak market capitalization of $17.1 million just over an hour after it was created before it then dropped by nearly 90% in the next 20 minutes to $1.9 million before making a recovery.A Coinbase spokeswoman distanced Base from the token, telling Cointelegraph that “Base did not launch a token. This is not an official Base token, and Base did not sell this token.”“Base posted on Zora, which automatically tokenizes content,” the spokeswoman said.G8keep co-founder Harrison Leggio said the token was sniped at launch, with two wallets making off with $300,000 in profits. Source: Harrison Leggio Hundreds of X posts criticized Base over the token, while others argued Base just poorly executed a plan to try to redefine memecoins.Base creator Jesse Pollack also defended Base's creation of the token, saying on X that “someone has to normalize putting all of our content onchain. I'm not afraid for it to be us.”

by Cointelegraph by Sam Bourgi on April 17, 2025 at 9:17 pm

Prime brokerage Hidden Road, which was recently acquired by Ripple for $1.25 billion, has secured a broker-dealer license from the Financial Industry Regulatory Authority (FINRA) — a move that enhances its capacity in the fixed-income markets. As a FINRA broker-dealer, Hidden Road can further develop its fixed-income prime brokerage services and extend its capabilities in traditional markets, the company announced on April 17. This includes offering institutional clients regulatory-compliant clearing and financing services across fixed-income securities. Membership in FINRA is considered a significant commitment to compliance and investor protection. It also boosts registrants’ credibility in the eyes of investment bankers, according to Telos Capital Advisors, a Dallas-based investment bank.  Hidden Road operates a prime brokerage and credit network, clearing more than $10 billion in daily transactions on behalf of more than 300 institutional clients. When it was founded in 2018, Hidden Road focused mainly on foreign exchange markets before expanding into digital assets.These strengths positioned Hidden Road as an attractive acquisition for blockchain payments network Ripple, which ultimately purchased the company on April 8.Ripple’s chief technology officer, David Schwartz, described the acquisition as a “defining moment for the XRP Ledger” by expanding the settlement layer’s use cases across traditional financial markets. Under Ripple, Hidden Road will “exponentially expand its capacity to service its pipeline and become the largest non-bank prime broker globally,” said CEO Brad Garlinghouse. Garlinghouse comments on the Hidden Road acquisition on April 8. Source: Brad GarlinghouseRelated: US to get its first XRP-based ETF, launching on NYSE ArcaPositive regulatory backdrop supports Ripple expansionRipple’s acquisition of Hidden Road comes on the heels of a favorable regulatory backdrop in the United States following the election of President Donald Trump. In January, Ripple secured money transmitter licenses in both Texas and New York, allowing the company to facilitate capital transfers within those states. Two months later, the Securities and Exchange Commission (SEC) dropped its lawsuit against Ripple, ending one of crypto’s longest legal battles and positioning the company to once again focus on expansion. At the time, crypto lawyer John Deaton said the decision is the “final exclamation point that [XRP tokens] are considered digital commodities, not securities.”The SEC is about to get a pro-crypto Chair after Paul Atkins’ nomination was approved by the US Senate on April 9. Once he’s sworn in, Atkins will take the reins from Mark Yueda, who has served as Acting Chair since Jan. 20.Related: Court grants 60-day pause of SEC, Ripple appeals case

by Cointelegraph by Biraajmaan Tamuly on April 17, 2025 at 9:00 pm

The latest US initial jobless claims data came at 215,000, below the estimated expectation of 225,000, on April 17. The dip in jobless claims indicated that the US labor market remained stable, with fewer people being affected by the uncertainty of US tariffs. Initial jobless claims are a leading economic indicator that measures the health of the US economy and it often impacts investor sentiment around risk assets like Bitcoin (BTC). US jobless claims data. Source: Investing.comResiliency in the labor market comes on the back of Federal Reserve Chair Jerome Powell’s recent comment about the impact of tariffs. In a press conference at the economics club of Chicago on April 16, Powell said,“The level of the tariff increases announced so far is significantly larger than anticipated. The same is likely to be true of the economic effects, which will include higher inflation and slower growth.”The Fed Reserve Chair also stated that the Fed has no plans to intervene with market bailouts or implement rate cuts in the near future. This stance aligns with his earlier comments from April 4, 2025, when he noted it was "too soon" to consider rate reductions, reflecting the Fed's cautious approach amid ongoing economic uncertainty. However, the European Central Bank cut interest rates to 2.25% from 2.50% in order to combat economic pressure from US trade tariffs. According to data, the ECB has taken borrowing costs to its lowest level since late 2022, with the current rate cut marking its seventh reduction in a span of a year. Related: Bitcoin gold copycat move may top $150K as BTC stays 'impressive'Bitcoin remains at an inflection point, says analystFor risk assets like Bitcoin, the recent US jobless claims data leans bearish in the short term, as a strong labour market reduces the likelihood of rate cuts, which supports speculative investments. BTC prices have consolidated in a tight range over the past few days, failing to break above the $86,000 level. In light of that, anonymous crypto trader Titan of Crypto said that Bitcoin is at an “inflection point”. Bitcoin analysis by Titan of Crypto. Source: X.comAn inflection point in trading is a critical juncture where the market's direction or momentum may shift significantly. It’s a moment where the balance between buyers and sellers reaches a tipping point, often leading to a reversal or acceleration in the trend. The trader said,“Bitcoin Inflection Point. On the 1H chart, BTC is contracting within a triangle and is about to choose a direction. The RSI is above 50 and attempting to break its resistance. A move is brewing.”Order flow trader Magus noted that Bitcoin is consolidating between $83,700 and $85,200. For the bullish momentum to persist, BTC must break above $85,000 soon, as the long-term chart signals potential bearish risks if this level isn't surpassed.Related: Bitcoin price levels to watch as Fed rate cut hopes fadeThis article does not contain investment advice or recommendations. Every investment and trading move involves risk, and readers should conduct their own research when making a decision.

by Cointelegraph by Christopher Tepedino on April 17, 2025 at 8:49 pm

Venture capital firm Andreessen Horowitz, or a16z, announced a $55 million investment in LayerZero, a Web3 company that runs a crosschain messaging protocol. The investment was disclosed in an April 17 X post by Ali Yahya, a general partner in the firm.A16z has made previous investments in LayerZero, including an initial investment in March 2022 and a subsequent investment during LayerZero’s Series B funding round in April 2023. The companies have not disclosed the funding round's valuation.Source: Ali Yahja | alive.ethThe Canada-based LayerZero was valued at $3 billion during its Series B funding round, which saw participation from 33 investors. In addition to a16z, Circle Ventures, OKX Ventures, OpenSea Ventures, Sequoia Capital, and many others participated at the time. In January 2025, LayerZero reached a settlement with the FTX Estate over a long-running dispute stemming from allegations that it exploited the exchange’s liquidity crisis by “negotiating a fire-sale transaction,” according to the Estate. In June 2024, LayerZero launched its own token, LayerZero (ZRO).Related: ‘Big Sybil hunt’ and durable users helped LayerZero airdrop succeed, says CEOCrosschain protocols, chain-agnosticism gain tractionCrosschain messaging protocols allow programs to share information across ecosystems and can be a critical function for decentralized applications (DApps) or traders who want seamless swaps across blockchains.Some protocols competing in the same space as LayerZero include Wormhole, Stargate, Superbridge, Connext, and many others.Related: PayPal USD links with LayerZero for transfers between Ethereum and SolanaWormhole may be one of the largest competitors to LayerZero, having raised $225 million at a $2.5 billion valuation in November 2023. Like LayerZero, Wormhole hosted an airdrop for its token, Wormhole (W), although the airdrop attracted scammers and spoof tokens. Chainlink also has a crosschain interoperability protocol that allows for messaging between blockchains. More and more companies are realizing the value of being omnichain or at least chain-agnostic. Phantom, which at first was a Solana-centric wallet, now supports six major blockchains, including Bitcoin and Ethereum. Magic Eden, an NFT-infrastructure company, also started as Solana-centric but has launched marketplaces for multiple blockchains now.Magazine: X Hall of Flame: ChainLinkGod was in High School when he started the account! 

by Cointelegraph by Vince Quill on April 17, 2025 at 8:37 pm

Ethena Labs, the developer of the USDe synthetic dollar (USDe), and financial technology company Securitize, released a preliminary roadmap for their upcoming Converge network, a high-throughput blockchain focused on real-world assets and decentralized finance (DeFi).According to the announcement, a testnet will be live in the coming weeks, with a mainnet launch later in 2025. Converge will feature a 100 milliseconds (ms) native block time, with plans to reduce block times to 50ms by Q4 2025. The developers also plan to achieve at least one gigagas of potential throughput during 2025. Gigagas is a measure of billions of gas units processed by a blockchain network in one second.Ethena and Securitize are launching the network to support permissioned real-world tokenized applications and permissionless DeFi applications as the line between traditional and decentralized finance continues to blur.Converge 1-year performance targets. Source: ConvergeRelated: Ethena Labs exits German market following agreement with BaFinTraditional finance converging with the crypto worldTraditional financial institutions are increasingly using decentralized finance protocols and interacting with tokenized real-world assets like stablecoins and tokenized bonds.The merging of TradFi and DeFi has drawn mixed reactions from the crypto community, with some saying it was inevitable that the two worlds came together, and others warning of institutional capture.In a Jan. 21 interview, Franklin Templeton CEO Jenny Johnson told Bloomberg that US President Donald Trump would integrate crypto and traditional finance by establishing clear regulations.“We need to have some sort of regulatory clarity so that you could bring these together because, fundamentally, it will drive out costs, and there is great innovation that the technology enables,” Johnson said.Shibtoshi, the founder of the SilentSwap privacy-preserving trading platform, recently told Cointelegraph that some institutions are currently hesitant to adopt decentralized finance solutions.The DeFi founder said that a lack of privacy, legal liability issues, and unclear regulations have stymied institutional adoption, but added that the tools to address these concerns already exist."Institutions have realized the benefits of a securely decentralized system. As early as 2021, reports said nearly one in three institutional investors in crypto were already using DeFi," Shibtoshi told Cointelegraph.Magazine: DeFi will rise again after memecoins die down: Sasha Ivanov, X Hall of Flame

by Cointelegraph by Marcel Pechman on April 17, 2025 at 8:18 pm

Key points: Monetary stimulus in China and Europe increases investors’ focus on Bitcoin price.The US Federal Reserve is under political pressure to cut rates, as the DXY weakens.Bitcoin’s decoupling from traditional markets continues to gain attention. Bitcoin (BTC) traders are somewhat puzzled by BTC price jumping to $85,000, especially since the S&P 500 index has dropped 5.7% in April, and this move came after the cryptocurrency managed a 14% rebound off its trade-war induced crash to $74,400. Investors are cautiously optimistic, but multiple events and data points to further gains above $90,000.Several metrics and events support a “decoupling,” meaning Bitcoin’s price is not closely following traditional financial instruments. However, some skepticism emerges as BTC has not matched gold’s performance. Gold reached an all-time high of $3,358 on April 16, leading to speculation that governments and central banks are increasing their gold reserves.Global stimulus rises as US economy shows early weaknessAs central banks respond to the threat of an economic recession, the chances of an increase in monetary supply are rising. While the US Federal Reserve (Fed) has held off on lowering interest rates or expanding its balance sheet, other nations have already taken such steps. This puts more pressure on the US economy, which is starting to show signs of weakness.US Federal Reserve total assets, USD million. Source: St Louis FedIn China, new bank loans in March rebounded more than expected to $500 billion, over 20% higher than analysts had predicted and a strong recovery from the previous month’s decline. According to Reuters, the PBOC has promised to increase stimulus measures to reduce the impact of the trade war with the United States.On April 17, the European Central Bank cut interest rates for the seventh time in a year to support the eurozone economy. The ECB has lowered the cost of capital to its lowest level since late 2022. Several investment banks have also reduced their inflation forecasts for the region, as the tariff war could reduce the region’s gross domestic product by 0.5%, according to Reuters.Weaker US dollar and Bitcoin miners’ long-term commitmentFurther adding pressure on the US Federal Reserve to end its restrictive monetary policy is the weakening of the US dollar compared to major global currencies, as the DXY Index has dropped to its lowest level in three years. A weaker dollar usually helps exports, which can be positive for the current account balance, but this is unlikely to last during a trade war.US Dollar Index (DXY). Source: TradingView / CointelegraphInvestor confidence has also been hurt by US President Donald Trump’s public criticism of Fed Chair Jerome Powell’s administration. This situation makes it harder for the US Treasury to rely on issuing Treasurys to stay afloat, which further weakens the US dollar. President Trump even said that Powell’s removal “cannot come fast enough,” while also calling for lower interest rates.However, when looking at the current macroeconomic data, there is little reason to support a more relaxed monetary policy from the US Fed, especially after the latest US jobless claims reported on April 17. Initial claims fell by 9,000 to 215,000 in the week ending April 12, according to the US Labor Department. Powell repeated on April 16 that the labor market is in a “solid condition,” according to Reuters.Related: When gold price hits new highs, history shows ‘Bitcoin follows’ within 150 days — AnalystBitcoin 7-day average estimated hashrate. Source: Blockchain.comBitcoin miners have also shown a strong long-term commitment, as the hashrate increased by 8% compared to the previous month. Since the Bitcoin halving in April 2024, traders were worried that lower profits would cause many miners to leave, possibly leading to a sell-off, since miners reportedly hold almost 1.8 million BTC, according to Glassnode.This article is for general information purposes and is not intended to be and should not be taken as legal or investment advice. The views, thoughts, and opinions expressed here are the author’s alone and do not necessarily reflect or represent the views and opinions of Cointelegraph.

by Cointelegraph by Sam Bourgi on April 17, 2025 at 7:44 pm

US President Donald Trump renewed his criticism of Federal Reserve Chair Jerome Powell, accusing him of being too slow to cut interest rates and escalating a long-running conflict that risks undermining the central bank’s political independence.With the European Central Bank (ECB) cutting interest rates again on April 17, “Too Late” Powell has failed to act appropriately in the United States, even with inflation falling, Trump said on Truth Social on April 17. “Powell’s termination cannot come fast enough!” Trump said.Source: realDonaldTrumpFlorida Senator Rick Scott agreed with the president, saying, “it’s time for new leadership at the Federal Reserve.”Trump’s public criticism of the Fed breaks a decades-long convention in American politics that sought to safeguard the central bank from political scrutiny, which includes any executive decision to replace the chair. In an April 16 address at the Economic Club of Chicago, Powell said Fed independence is “a matter of law.” Powell previously signaled his intent to serve out the remainder of his tenure, which expires in May 2026. Related: S&P 500 briefly sees ‘Bitcoin-level’ volatility amid Trump tariff warCrypto, risk assets look to the Fed for guidanceThe Federal Reserve wields significant influence over financial markets, with its monetary policy decisions affecting US dollar liquidity and shaping investor sentiment.Since the COVID-19 pandemic, crypto markets have increasingly come under the Fed’s sphere of influence due to the rising correlation between dollar liquidity and asset prices. This was further corroborated by a 2024 academic paper written by Kingston University of London professors Jinsha Zhao and J Miao, which concluded that liquidity conditions now account for more than 65% of Bitcoin’s (BTC) price movements.As inflation moderates and market turmoil intensifies amid the trade war, Fed officials are facing mounting pressure to cut interest rates. However, Powell has reiterated the central bank’s wait-and-see approach as officials evaluate the potential impact of tariffs. A measure of real-time inflation known as “truflation” suggests that cost pressures are much weaker than the Fed’s primary indicators, which are several months out of date. Source: TruflationThe Fed is expected to maintain its wait-and-see policy approach at its next meeting in May, with Fed Fund futures prices implying a less than 10% chance of a rate cut. However, rate cut bets have increased to more than 65% for the Fed’s June policy meeting. Related: Weaker yuan is 'bullish for BTC' as Chinese capital flocks to crypto — Bybit CEO

by Cointelegraph by Turner Wright on April 17, 2025 at 7:17 pm

The Wyoming Stable Token Commission, a body authorized by the US state to issue a stablecoin, has suggested that it may clarify its language to better comply with potential guidelines from the Securities and Exchange Commission (SEC).In an April 17 meeting in the extension of the Wyoming Capitol building, Commissioner Joel Revill suggested the body could reduce the risk of the state’s proposed WYST stablecoin qualifying as a security under SEC rules. The discussion among the commissioners and Executive Director Anthony Apollo followed the SEC issuing guidelines that certain “covered stablecoins” were considered” non-securities” and largely not subject to reporting requirements. Wyoming Stable Token Commission Executive Director Anthony Apollo with Senator Cynthia Lummis. Source: LinkedIn“We’re looking to kind of create our own vernacular around some of this, to clarify, and then use that as a jumping off point of discussion for the commission,” said Apollo, adding there were internal discussions regarding the SEC guidance but the commission was scheduled to address the matter in a May memo. Related: Wyoming treasury should run on blockchain — Stable Token Commission bossThe commission, established after Wyoming passed a law to issue a state-issued stablecoin pegged to the US dollar and redeemable for fiat currency, has been exploring issues surrounding WYST. Wyoming Governor Mark Gordon said in August that the government initially planned a launch in the first quarter of 2025 for the stablecoin, later amending the timeline to potentially launch in July.Looking to the US Congress for guidanceThe commission said it would be monitoring efforts by the federal government to establish a regulatory framework for stablecoins. Among the proposed legislation was the Guiding and Establishing National Innovation for US Stablecoins, or GENIUS Act, in the Senate, and the Stablecoin Transparency and Accountability for a Better Ledger Economy, or STABLE Act, in the House of Representatives.Though Wyoming is the least populated US state, with roughly 600,000 people, it has become home to some crypto firms likely seeking a regulatory-friendly jurisdiction. Custodia Bank, the digital asset bank established by Caitlin Long, is based in Cheyenne. US Senator Cynthia Lummis, who often advocates for crypto-friendly policies, represents Wyoming in the Senate. Magazine: Riskiest, most ‘addictive’ crypto game of 2025, PIXEL goes multi-game: Web3 Gamer

by Cointelegraph by Biraajmaan Tamuly on April 17, 2025 at 6:48 pm

The price of gold surged to a new all-time high of $3,357 per ounce on April 17, igniting speculation on whether Bitcoin (BTC) would follow. Bitcoin-gold comparison. Source: Cointelegraph/TradingViewIn 2017, Bitcoin rallied to $19,120 after gold witnessed a 30% hike a few months earlier. Similarly, gold reached a new high near $2,075 in 2020 during the COVID-19 pandemic, which preceded Bitcoin’s surge to $69,000 in 2021.Bitcoin has historically surpassed its previous all-time highs whenever gold rallies, reflecting a dynamic relationship between the two assets during periods of economic uncertainty and when investors look for a US dollar alternative.Further highlighting the interconnections between the assets, Joe Consorti, head of growth at Theya, pointed out that BTC follows gold’s directional bias with a lag of 100-150 days at a time. Consorti said, “When the printer roars to life, gold sniffs it out first, then Bitcoin follows harder.”Bitcoin vs gold price movement correlation. Source: X.comConsidering Consorti’s view, Bitcoin is expected to potentially attain new all-time highs between Q3 and Q4 of 2025. Anonymous Bitcoin proponent apsk32 expected a similar outcome or bullish period between July and November. Looking at data from past Bitcoin price cycles and BTC’s “power curve time contours,” the analyst predicted that Bitcoin will enter a parabolic phase in the latter half of 2025, with a price target as high as $400,000. Using the power law model, the analyst normalized Bitcoin's market cap to gold's and plotted BTC on a logarithmic scale, measuring each Bitcoin in ounces of gold instead of dollars.Bitcoin price and power curve chart. Source: X.comRelated: Bitcoin gold copycat move may top $150K as BTC stays 'impressive'Bitcoin trading like “Mag 8” amid tariff uncertaintyIn a recent interview with CNBC, Galaxy Digital CEO Mike Novogratz said that Bitcoin and gold are “key indicators of financial stewardship” amid global macroeconomic uncertainty. Highlighting it as a “Minsky Moment” for the US economy, Novogratz said that Bitcoin thrives in market turbulence, driven by a weakening US dollar and capital flowing into safe havens like gold, which has recently rallied. Novogratz added that despite a 10% year-to-date drop in equities, markets underestimate the scale of global economic shifts, with tariffs and Trump’s policies adding uncertainty. He cautioned that rising interest rates and a weakening dollar signal the US is behaving like an emerging market, with Bitcoin and gold reflecting growing concerns over unsustainable deficits and the $35 trillion national debt.Related: Bitcoin online chatter flips bullish as price chops at $85K: SantimentThis article does not contain investment advice or recommendations. Every investment and trading move involves risk, and readers should conduct their own research when making a decision.

by Cointelegraph by Christopher Tepedino on April 17, 2025 at 6:46 pm

Huaxia Fund is set to launch staking services on its Ether exchange-traded fund (ETF), making it the second in Hong Kong. OSL Digital Services (OSL) will provide custody and staking infrastructure for the fund.The staking feature will be live on May 15, moving the ETF from a strictly passive investment vehicle to an “active participant” in the Ethereum ecosystem, according to the announcement from OSL. Huaxia Fund, a subsidiary of China Asset Management (ChinaAMC), first launched its Ether ETF in April 2024. The introduction of a staking provision comes after Hong Kong’s Securities and Futures Commission (SFC) changed its rules on April 7 to allow for entities like centralized exchanges to offer crypto staking in a bid to position the city as a leader in Web3. When announcing the rule change, the SFC said it “recognizes the potential benefits of staking in enhancing the security of blockchain networks and allowing investors to earn yields.”Related: Hong Kong Bitcoin, Ether ETFs attract over $200M on day 1Staking is the process of locking up crypto tokens to help support the operations and security of a blockchain network. In return, participants earn rewards, typically in the form of more cryptocurrency.On April 10, Bosera HashKey was approved to be a staking provider in Hong Kong, the first under the new rule. According to a press release, staking will allow for Bosera HaskKey’s Ether ETF to take advantage of compound growth, as yield from the staked Ether can be reinvested into the financial instrument. According to Coinbase, ETH stakers are currently earning about 2.14% of their holdings in a 365-day average. 30-day ETH staking yield as of April 13. Source: Dune AnalyticsHong Kong changes rules to become Web3 hubStaking for Ether ETFs has been a central topic in the United States. In December 2024, Bernstein Research predicted that staking would be approved for Ether ETFs under the crypto-friendly Trump administration. Since then, CBOE and the NYSE have filed for a rule change with the United States Securities and Exchange Commission (SEC) to grant permission for staking in such funds.Asset manager BlackRock has remarked that while successful, ETH ETFs are less perfect without staking. Staking is seen as a way to attract more investors to the Ether ETFs, who may be lured by the possibility of yield, which leads to further gains.Related: Ether shoots up 3.5% as CBOE, 21Shares seek to add ETH staking to ETFHong Kong’s SFC appears to understand that and is acting accordingly. Chen Wu, the CEO of Hong Kong-based crypto exchange Ex.io, told Cointelegraph. “The SFC’s announcement signals that more doors are opening — not just for staking, but for a wider range of Web3 products to take shape under a regulated and trusted framework,” she said.Hong Kong has seen a 250% growth in its blockchain sector since 2022, with the city’s fintech market expected to reach over $600 billion by 2032. The Hong Kong government is considered to have proactive policies for cryptocurrency companies, a stark contrast to the sometimes combative tone other governments take to the emerging asset class.Magazine: What are native rollups? Full guide to Ethereum’s latest innovation

by Cointelegraph by Vince Quill on April 17, 2025 at 5:27 pm

Barry Silbert, the CEO of Digital Currency Group, said he would have secured higher investment gains by just holding the Bitcoin that he invested in early-stage crypto projects around 2012.During an April 17 appearance on Raoul Pal's Journey Man podcast, Silbert said he discovered Bitcoin (BTC) in 2011, purchasing BTC at $7-$8 per coin. Once the price of BTC surged, Silbert started looking for early-stage crypto companies to invest in. The executive told Raoul Pal:"I was using Bitcoin to make a bunch of those investments, and you would think, if you invested in Coinbase you would have done really well. Had I just held the Bitcoin, I actually would have done better than making those investments."Silbert's comments come at a time when Bitcoin maximalists, including Strategy co-founder Michael Saylor, forecast a seven-figure Bitcoin price in the coming decade, and BTC receives greater attention from governments worldwide.Bitcoin price history 2011-2025. Source: CoinMarketCapRelated: Bitcoin gold copycat move may top $150K as BTC stays 'impressive'Bitcoin could hit $1 million if US begins buying BTC Zach Shapiro, the head of the Bitcoin Policy Institute (BPI) think tank, recently predicted BTC would hit $1 million per coin if the United States government were to purchase 1 million BTC.“If the United States announces that we are buying a million Bitcoin, that’s just a global seismic shock," Shapiro told Bitcoin Magazine in an April 16 podcast appearance.Bo Hines, the executive director of President Trump's White House Crypto Council, signaled that the council is exploring several budget-neutral strategies for acquiring more Bitcoin for the US Strategic Reserve.These strategies included revaluing the US Treasury's gold reserves, which are currently priced at $43 per ounce while the market rate is at an all-time high of $3,300 per ounce, and funding Bitcoin acquisition through trade tariffs.BTC has been floated as a way to eliminate or alleviate the growing national debt by President Trump and several market analysts.According to asset management firm VanEck, Bitcoin could help claw back the $36 trillion national debt by $14 trillion if the US Treasury introduces long-term bonds with BTC exposure.Magazine: TradFi fans ignored Lyn Alden’s BTC tip — Now she says it’ll hit 7 figures: X Hall of Flame

by Sundance on April 17, 2025 at 5:00 pm

The U.S. Chamber of Commerce has decided against joining any lawsuits targeting the tariffs put into place by President Trump, Commerce Secretary Lutnick and the National Economic Council.  This is quite a new shift in tone from the generally hostile CoC. In the background, the U.S. CoC has historically surveyed their corporate sponsors and conducts The post U.S Chamber of Commerce Decides Not to Join any Lawsuits Over Trump Tariffs appeared first on The Last Refuge.

by Cointelegraph by Marco Castrovilli on April 17, 2025 at 5:00 pm

Over the past year, most altcoins have struggled to keep up with Bitcoin, but one project is breaking away from the pack: XRP.While other tokens have stagnated or slid, XRP (XRP) has surged more than 300% in just six months against Bitcoin (BTC) to quickly become one of the best-performing assets in the crypto space. But what’s really behind this rally — and more importantly, can it last?Some say it’s the fundamentals finally shining through. Others argue it’s just hype and speculation driven by a passionate community. Then there’s the legal, political, and institutional side of things — factors that could have a far greater impact on XRP’s trajectory than many realize.In Cointelegraph's latest video, we dive deep into the forces driving XRP’s recent performance, the growing institutional interest, and the potential game-changing developments on the horizon. From exchange-traded funds (ETFs) and stablecoins to regulation and Ripple Labs’ evolving strategy, this video breaks it all down.Whether you’re an XRP holder, a skeptic, or just trying to make sense of the altcoin market in 2025, this is a video you don’t want to miss.Check out the full breakdown on our YouTube channel — and make sure to subscribe for future updates.

by Sundance on April 17, 2025 at 4:58 pm

Folks, I know this is going to be hard, but we must remain steadfast in bearing the burden of new tariffs for our essential items.  Hermes has announced they will pass along the cost of President Trump’s tariffs to consumers. Currently, Hermes branded purses ranging from $20,000 to $200,000 are purchased by a whopping 0.001% The post Brace Yourselves – Hermes Announces Price Increase Due to Trump Tariffs, $50,000 Handbags Now $55,000 appeared first on The Last Refuge.

by Cointelegraph by Sam Bourgi on April 17, 2025 at 3:46 pm

Bitcoin mining company Bit Digital has acquired an industrial building in Madison, North Carolina, upping the ante in a business diversification strategy that includes strategic pivots into AI and high-performance computing. Bit Digital agreed to buy the property for $53.2 million through Enovum Data Centers Corp., the company’s wholly owned Canadian subsidiary, regulatory filings show. The investment includes a $2.25 million initial deposit, with $1.2 million being non-refundable. The transaction is expected to close on May 15.Bit Digital disclosed the acquisition in a Form 8-K filed with the US Securities and Exchange Commission. Source: SECBit Digital’s regulatory filing was submitted around the same time that it announced a new Tier 3 data center site in Quebec, Canada, which will support the company’s 5 megawatt colocation agreement with AI infrastructure provider Cerebras Systems. The Quebec facility is being retrofitted with roughly $40 million in upgrades to meet Tier 3 standards — strict requirements that ensure high reliability for critical systems and continuous operation.Bit Digital CEO Sam Tabar said at the time that the Quebec operation “represents continued momentum in our strategy to deliver purpose-built AI infrastructure at scale.”Related: Auradine raises $153M, debuts business group for AI data centersMiners under pressure to diversifyFaced with volatile crypto prices and a quadrennial Bitcoin halving cycle that squeezes revenues, several mining firms have leveraged their existing infrastructure to pivot to other data-intensive workloads. Mining companies like Hive Digital say AI data centers offer potentially higher revenue streams than crypto mining. In the latest sign of economic pain, public Bitcoin miners sold more than 40% of their Bitcoin (BTC) holdings in March, according to data from TheMinerMag publication. Public miners that can’t keep their costs under control struggle the most in maintaining their Bitcoin operations, placing more pressure on executives to seek out alternative revenue streams.An October report by CoinShares suggested that the least profitable miners are more likely to shift gears to AI and other workloads. The cost per Bitcoin is an important metric for mining companies, which have struggled to remain profitable in a post-halving environment. Source: CoinSharesRelated: SEC says proof-of-work mining does not constitute securities dealing