Alternative News for You

by Jasmine Hines on April 30, 2025 at 12:33 am

Gladstone in central Queensland is a major industrial city responsible for about one third of the state's carbon emissions. As it looks to decarbonise, could the election impact the city's green hydrogen push?

by Cointelegraph by Brayden Lindrea on April 29, 2025 at 11:56 pm

Trump Media and Technology Group, the social media conglomerate backed by US President Donald Trump, is considering integrating a crypto token and wallet into its video streaming site, Truth+."We're exploring the introduction of a utility token within a Truth digital wallet that can initially be used to pay for Truth+ subscription costs, and later be applied to other products and services in the Truth ecosphere," Trump Media CEO Devin Nunes wrote in an April 29 letter to shareholders.He added that the crypto token and wallet would be part of a rewards program that Trump Media is exploring across its services, which include the social media platform Truth Social and the financial services platform Truth.Fi.Trump Media first signaled plans for a potential crypto payments venture last November when it filed a trademark application with the US Patent and Trademark Office for computer software designed to function as a digital wallet, enable digital asset trading and process crypto payments on Truth.Fi.Source: CointelegraphTruth+ launched in October, offering movies and shows mainly targeting a politically conservative audience.Trump Media signed a binding agreement with the crypto exchange Crypto.com and asset manager Yorkville America Digital to launch exchange-traded funds (ETFs) that will include crypto and stocks “with a Made in America focus” to launch on Truth.Fi.The company said in January that it plans to invest up to $250 million of its cash reserves into a range of financial products, including Bitcoin (BTC) and other crypto tokens or crypto-related securities, which would be custodied by asset manager Charles Schwab.More potential for conflict of interestThe launch of a Trump Media utility token would only heighten concerns about the president’s crypto-related ventures potentially conflicting with his duties. Trump, however, transferred his 59% stake into a trust last December.Related: Trump’s first 100 days ‘worst in history’ despite crypto promisesTrump has also been criticized for backing the crypto platform World Liberty Financial, where he’s named the firm’s “Chief Crypto Advocate” and draws a portion of its profits.Some senators have raised concerns that Trump’s influence on policy could benefit World Liberty, which is 60% owned by the Trump family.Trump also received backlash for the controversial launch of his memecoin, Official Trump (TRUMP), on Jan. 18 — just two days before he re-entered the White House.Magazine: Trump’s crypto ventures raise conflict of interest, insider trading questions

by Richard Willingham on April 29, 2025 at 11:48 pm

Nationals candidate Andrew Lethlean could face thousands of dollars in fines after selling alcohol at his Bendigo bar while its licence was suspended.

by Cointelegraph by Marcel Pechman on April 29, 2025 at 11:30 pm

Key points:Weak labor and consumer data often precede Bitcoin rallies, leading some analysts to anticipate future economic stimulus programs.Job openings fell to 7.2 million in March versus the 7.5 million forecast and consumer confidence hit its lowest level since January 2021.If past patterns hold, Bitcoin could rally by mid-July and possibly reach $140,000 by October 2025.Macroeconomic conditions have long been seen as a major influence on cryptocurrency prices. Generally, Bitcoin (BTC) and altcoins perform poorly when investors fear that employment and consumer data are weakening. According to a US Labor Department JOLTS report released on April 29, job openings in March approached their lowest levels in four years. US employers posted 7.2 million vacancies in March, below the 7.5 million that economists had forecast. Meanwhile, US consumer confidence fell for the fifth straight month in April, reaching its lowest point since January 2021. US Consumer Confidence (left) vs. Total non-farm US job openings (right). Source: TradingView/CointelegraphWorsening conditions raise the chances that central banks will introduce economic stimulus measures, making the overall impact on cryptocurrency markets uncertain. Typically, the additional liquidity encourages investment in risk-on assets like Bitcoin, as more capital flows into the economy.Future expectations matter more than today’s weak economic dataThe last time the US experienced a drop in job openings and weakening consumer confidence was between January and June 2024. In the three months that followed, Bitcoin’s price moved between $53,000 and $66,000. Then, a 60% rally began in mid-October, pushing BTC above $100,000. The final result was positive, but it took more than 105 days for this effect to show in the cryptocurrency market.Bitcoin/USD, log scale. Source: TradingView / CointelegraphAlthough these conditions may seem worrying at first, weaker labor and consumer sentiment are usually backward-looking. Financial markets and companies base their decisions on expectations for future economic growth, rather than just past data. Also, improved sentiment among crypto investors tends to come after there is some confirmation of better macroeconomic conditions. This explains why the 105-day lag is not unusual.Before 2024, a similar situation occurred between January and June 2023, with declines in both job market data and consumer confidence. The next four months were difficult, as Bitcoin’s price fell 18% to $25,000. It took 115 days for the price to recover to $30,500 by late October. However, the following two months were very positive, with BTC gaining 45% to reach $43,900.Bitcoin/USD in 2020, log scale. Source: TradingView / CointelegraphThe last time in the past eight years when both the labor market and consumer confidence suffered significantly was between February 2020 and May 2020, right after the implementation of the COVID-19 lockdowns. This period saw Bitcoin briefly drop below $4,000 on March 13, 2020. As a result, a longer period of consolidation was expected before investors regained confidence in the crypto markets.Related: Bitcoin acts like ‘store of value that it is’ amid Trump policy chaos: NYDIGCould Bitcoin hit $140,000 by October?Looking back at the macroeconomic data, there was no major impact on Bitcoin between May 2020 and September 2020, as its price increased from $8,900 to $10,600, a 20% gain. However, the next 60 days brought an impressive 85% rally to $19,700. For the third time, weaker labor and consumer sentiment data seemed to come before a rally in Bitcoin prices.While the time between the lowest point of economic conditions and Bitcoin’s rally ranged from 105 to 130 days, the result was clear in all three cases. Therefore, if US job openings and consumer confidence improve from April 2025, it is likely that Bitcoin’s price will start to rise by mid-July. If history repeats itself, this could mean a minimum target of $140,000 by October 2025, but further positive macroeconomic data is needed to confirm this outlook.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 Giselle Wakatama and Amelia Bernasconi on April 29, 2025 at 11:25 pm

Bickham Coal Company says after decades of deliberations it has "no intention" of resurrecting plans for mining on its controversial site in the NSW Upper Hunter.

by Kristian Silva on April 29, 2025 at 11:23 pm

Prosecutors will outline their case against Victorian woman Erin Patterson, who stands accused of using a poisoned meal to murder three relatives. Follow all the updates in our live blog.

on April 29, 2025 at 11:09 pm

Ambulance Victoria's CEO says he's aware of two COVID-era 'honour guards' for deceased paramedics that took place at a time when Victorians were living under strict rules for gatherings.

on April 29, 2025 at 11:08 pm

Recalled New South Wales halfback Jesse Southwell has long seemed like the future of women's rugby league. Now the Blues are going all in on the returning halfback for Origin I.

by Cointelegraph by Alex O’Donnell on April 29, 2025 at 10:58 pm

Bettors on prediction platforms Polymarket and Kalshi are flipping bearish on the US economy. As of April 29, both platforms are predicting that the US will log an economic contraction during the first quarter of 2025 in an upcoming economic data release. The US has logged positive growth figures every quarter since 2022, and a reversal in that trend could mark the start of a recession.The pessimistic outlook marks a stark sentiment shift for prediction markets, which had recently anticipated a positive US growth report. On April 29, consensus Q1 US growth estimates on Kalshi, a US derivatives exchange, plunged from around 0.5% to -0.4% in less than 24 hours. Meanwhile, Polymarket bettors are setting the odds of a US economic contraction in Q1 at around 70%. On April 28, they still had a mostly favorable outlook.The shift comes one day after Canada, America’s second-largest trading partner, elected Liberal Mark Carney as prime minister. Carney has vowed to take a more hawkish stance in Canada’s ongoing trade war with the US. Bettors on Kalshi now expect a negative US GDP print. Source: KalshiRelated: Analysts brace for Bitcoin slide on gloomy US manufacturing dataThe markets are pegged to the outcome of an April 30 report by the US Bureau of Economic Analysis, which issues official measures of America’s gross domestic product (GDP).The report will provide the clearest view yet into the impact of US President Donald Trump’s controversial trade policies.Prediction markets work by letting users trade contracts tied to specific events, with prices fluctuating dynamically based on expected outcomes. In 2024, event contracts proved to be as reliable as traditional polling, forecasting not only Trump’s election win but also his party’s sweep of the US House and Senate.Polymarket’s US GDP growth wagers. Source: PolymarketTariff turmoilOn April 2, Trump announced plans to place sweeping tariffs on US imports. The president has since paused the rollout of tariffs on certain countries, but the prospect of a global trade war still looms. The macroeconomic uncertainty has already weighed on US economic data. In April, the Philadelphia Federal Reserve Manufacturing Index — a monthly survey of 250 US-based manufacturers — reported the sharpest declines in activity since 2020. Analysts said factories are bracing for the impact of Trump’s tariff plans, which could potentially raise production costs for manufacturers.Magazine: Memecoin degeneracy is funding groundbreaking anti-aging research

by Barbara Miller on April 29, 2025 at 10:51 pm

Donald Trump has made big promises on Russia's war in Ukraine but he's becoming an impatient broker.

by Tim McGlone, Sam Bradbrook, Elyse Armanini, and George Yankovich on April 29, 2025 at 10:43 pm

Residents near major highways in South Australia say roads are "not up to scratch" with "bandaid" repair jobs amid proposed changes to federal infrastructure funding that could see the state receive less.

on April 29, 2025 at 10:42 pm

Sebastian Fundora's promoter confirms his fighter has withdrawn from his title defence this week, with a rematch against Tim Tszyu set to be confirmed.

on April 29, 2025 at 10:34 pm

Two people survive a high-speed boat crash after it flips into the air and nosedives into the water at an annual race in the US.

by Cointelegraph by Turner Wright on April 29, 2025 at 10:32 pm

US Senate Majority Leader John Thune reportedly told Republican lawmakers that the chamber would address a bill on stablecoin regulation before the May 26 Memorial Day holiday.According to an April 29 Politico report, Thune made the comments in a closed-door meeting with Republican senators, who hold a slim majority in the chamber. The Guiding and Establishing National Innovation for US Stablecoins, or GENIUS Act, was introduced by Senator Bill Hagerty in February and passed the Senate Banking Committee in March.Thune did not mention any crypto or blockchain-related bills in his public comments on US President Donald Trump’s first 100 days in office. Since his Jan. 20 inauguration, Trump has signed several executive orders with the potential to affect US crypto policy, including one affecting stablecoins. Still, many of the actions do not carry the force of law without an act of Congress.Related: $649B stablecoin transfers linked to illicit activity in 2024: ReportThe proposed GENIUS bill could essentially restrict any entity other than a “permitted payment stablecoin issuer” from issuing a payment stablecoin in the United States. The House of Representatives, also controlled by Republicans, has proposed a companion bill to the legislation: the Stablecoin Transparency and Accountability for a Better Ledger Economy, or STABLE Act.Trump accused of conflicts of interest over stablecoins, crypto venturesThe president’s executive order, signed on Jan. 23, established a working group to study the potential creation and maintenance of a national crypto stockpile and a regulatory framework for stablecoins. Republican lawmakers followed by introducing the STABLE and GENIUS acts.Trump also introduced the order before World Liberty Financial, a crypto firm backed by the president’s family, launched its US-dollar pegged USD1 stablecoin. Many Democratic lawmakers said that Trump’s ties to the firm, coupled with his political influence and position, could present an “extraordinary conflict of interest that could create unprecedented risks to our financial system” as Congress considers the two stablecoin bills.Magazine: Trump’s crypto ventures raise conflict of interest, insider trading questions

by Cointelegraph by Biraajmaan Tamuly on April 29, 2025 at 10:22 pm

Key Takeaways:Fidelity Digital Assets says Bitcoin is undervalued and the firm holds an optimistic mid-term outlook.The JOLTS report shows a sharp drop in open US jobs, raising investors’ hope for Fed interest rate cuts. According to Fidelity Digital Assets, Bitcoin’s (BTC) mid-term outlook dropped to an “optimism” zone, as the investment firm noted that BTC is trending toward “undervaluation.” As proof, the firm cited the ‘Bitcoin Yardstick’ metric, which measures BTC’s market cap divided by its hashrate. A lower ratio suggests that Bitcoin is “cheaper” relative to the energy security of its network. In Q1 2025, the metric stayed between -1 and 3 standard deviations, cooling from its Q4 2024 overheated levels. The number of days above 2-standard deviations dropped from 22 to 15, with none above 3, indicating that Bitcoin is less expensive compared to its network strength. Bitcoin Yardstick chart. Source: Fidelity Digital Assets ReportThe investment firm mentioned that Bitcoin is in an “acceleration phase,” where rallies to new highs aren’t uncommon, though they caution a blow-off top could take place. Illiquid supply rose from 61.50% to 63.49%, while liquid supply fell by 4%, indicating holders are increasingly committed to long-term positions. The Illiquid Supply Shock Ratio, currently 16% below its 2017 peak.Bitcoin Liquid and Illiquid supply. Source: Fidelity Digital Asset Signals ReportIn line with this view, Cointelegraph reported that BlackRock’s iShares Bitcoin Trust (IBIT) ETF recorded a significant inflow of $970.9 million on April 28, 2025, marking its second-largest daily inflow since its January 2024 launch.Since April 22, IBIT has amassed over $4.5 billion in net inflows, defying broader market trends where competitors like Fidelity’s FBTC and ARK’s ARKB faced outflows. With over $54 billion in assets under management, IBIT holds a 51% share of the US spot Bitcoin ETF market.Related: BlackRock Bitcoin ETF buys $970M in BTC as inflows surge, boost marketBitcoin gets a boost from US JOLTS data The March 2025 US Job Openings and Labor Turnover Summary (JOLTS) report showed a plunge to 7.19 million from February’s 7.57 million, below the 7.48 million forecast. A lower-than-expected JOLTS number signals a cooling labor market, raising expectations for Federal Reserve rate cuts, which weakens the dollar and lifts risk assets like Bitcoin. Conversely, a higher-than-expected figure suggests economic strength, potentially delaying cuts and pressuring crypto prices. With federal layoffs at a 2020 peak, market expectations are leaning slightly dovish.Economist and Bitcoin commentator Alex Kruger identified the JOLTS data as a short-term win for Bitcoin, as a “risk/gold hybrid” poised to gain from tariff de-escalation after Trump’s 90-day pause (ending July 8). In an X post, the analyst predicted that markets may focus on earnings guidance from firms like Caterpillar and tech stocks, while keeping an eye on next week’s Federal Open Market Committee (FOMC) meet, where Powell might signal earlier rate cuts. Kruger warned of a Q3 economic slowdown where the markets may be volatile, but he also said that Bitcoin’s unique risk-reward would outperform altcoins, which the analyst pointed out as overbought.Related: Bitcoin 'hot supply' nears $40B as new investors flood in at $95KThis 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 Viki Ntafillis and Kate Higgins on April 29, 2025 at 10:12 pm

Small businesses in parts of regional South Australia are feeling the pinch, as farmers and their families tighten their belts amid record-low rainfall.

by Jack Hislop on April 29, 2025 at 10:12 pm

The NT government is set to urgently pass new bail laws today after the fatal stabbing of a Darwin supermarket owner, flagging an overhaul of youth justice laws is underway.

on April 29, 2025 at 10:02 pm

Alex de Minaur easily makes his way to the fourth round of the Madrid Open as Novak Djokovic pulls out of the Italian Open.

by Cointelegraph by Christopher Tepedino on April 29, 2025 at 9:50 pm

The Bank of Italy identified Bitcoin and other digital assets as emerging risk factors in a recent report, citing concerns for both investors and the financial system.In its April 2025 Financial Stability Report, the Bank of Italy flags crypto volatility and rising integration with the broader economy, singling out stablecoins and non-financial firms’ crypto exposure as key concerns."The strong growth of Bitcoin and of other crypto-assets with high price volatility means risks not only for investors but also potentially for financial stability, given the growing interconnections between the digital asset ecosystem, the traditional financial sector and the real economy,” the report notes. Excerpt from the Bank of Italy’s Financial Stability Report. Source: Bank of ItalyThe Bank of Italy’s report also addressed the trend of non-financial corporations holding Bitcoin, stating that it exposes them to “marked price volatility” driven by “the belief that Bitcoin can support their share prices.”Strategy (formerly MicroStrategy) helped popularize the corporate purchase of Bitcoin, beginning its acquisitions in August 2020. Since then, several companies have followed its lead, including Metaplanet, Semler Scientific, and GameStop.The Bank of Italy also addressed stablecoins in its report, noting potential risks if dollar-pegged tokens were to become systemic. It suggested that increased reliance on US government bonds to back these assets could introduce broader financial vulnerabilities. According to the report, disruptions in either the stablecoins or the underlying bonds could have “repercussions for other parts of the global financial system.”The report comes just a few days after Giancarlo Giorgetti, the country’s minister of economy and finance, warned that the appeal of US dollar stablecoins should not be underestimated. According to Giorgetti, US stablecoin policies are more dangerous than US President Donald Trump’s tariffs.Related: Italy scales back plans to hike crypto tax rate: ReportGiorgetti, in his speech, highlighted the need to enhance the euro’s position on the global stage, noting that the development of the Digital Euro will play a crucial role in reducing reliance on foreign digital solutions.Related: Italy’s largest bank enters crypto market with $1M Bitcoin investment

by Adelaide Miller on April 29, 2025 at 9:40 pm

Dozens of HESTA super fund members told ABC News they weren't aware of the planned outage, despite HESTA announcing the seven-week freeze back in February. 

by Matt Garrick on April 29, 2025 at 9:38 pm

Members of Darwin's Chinese community are calling for federal Labor and the Coalition to reconsider their election promises to take back the lease of the Darwin Port.

by Floss Adams on April 29, 2025 at 9:38 pm

A long-lost game fishing rod has been dredged up by crew members of a trawler after spending four decades on the ocean floor offshore from Bermagui on the NSW far south coast.

by Michael Janda and Stephanie Chalmers on April 29, 2025 at 9:28 pm

Australian shares rise modestly, with the quarterly Consumer Price Index in focus. The US posted a record trade deficit for March ahead of the imposition of Donald Trump's sweeping tariffs. Follow the day's events and insights from our business reporters on the ABC News live markets blog. 

by Blake Kagi on April 29, 2025 at 9:26 pm

Not a single property or room is affordable for people on Jobseeker, Youth Allowance or the Disability Support Pension in Western Australia, an Anglicare report finds. 

by Jenae Madden, Emma Johnson, and Georgia Loney on April 29, 2025 at 9:23 pm

Firefighters rescue two people from a burning hostel in Bowen in north Queensland, and police are investigating the cause of the blaze.

by Courtney Withers on April 29, 2025 at 9:17 pm

The three-way contest for Australia's newest electorate, the semi-rural seat of Bullwinkel, is shaping up as one of the most fiercely fought battles.

by Cointelegraph by Turner Wright on April 29, 2025 at 9:13 pm

A court in India has ordered the encrypted email service Proton Mail blocked in the country for refusing to share information with authorities.In an April 29 hearing of the High Court of Karnataka, Justice M Nagaprasanna ordered the government to “block forthwith” domain names associated with Proton Mail, citing authority under the country’s Information Technology Act of 2008. The order stemmed from a complaint filed in January by a New Delhi-based design firm, alleging that some of its employees received offensive emails through the service.  It’s unclear whether the ban will take effect or face other possible challenges in court. The Proton team reported in March 2024 that Indian authorities had similarly proposed ordering the service blocked in response to alleged “hoax bomb threats,” but it continued to operate in the country.The crackdown on Proton Mail appeared to be part of a larger global trend to pursue action against platforms based on users’ activities, such as the arrest of Telegram founder Pavel Durov in France in part for allegedly failing to moderate illicit content. Cointelegraph reached out to Proton for comment but did not receive any response at the time of publication.Related: Crypto projects prepare to battle for privacy in SwitzerlandIn Spain, Proton AG — the Swiss company behind the platform — provided information to the authorities about one of its users in 2024. The move had many privacy advocates questioning the security of their data with the centralized service.Vying for market share in the world’s most populous countryCryptocurrency exchanges are no stranger to legally sanctioned crackdowns attempting to curtail their activities in a country, or in some cases, face blocks or bans. US authorities imposed sanctions on crypto mixing services like Tornado Cash in 2022, facing swift backlash from the industry and legal challenges, while South Korea reportedly blocked 14 exchanges on the Apple store for allegedly operating without the proper registration.In India, users face a 30% tax on profits from crypto trading, which has been in effect since April 2022. Though crypto firms operating in the country endure increasing regulatory oversight, India is estimated to have more than 100 million digital asset holders out of its roughly 1.4 billion people.Magazine: Pokémon on Sui rumors, Polymarket bets on Filipino Pope: Asia Express

by Jason Om and Rahni Sadler on April 29, 2025 at 9:00 pm

Working from home is key for these voters in one of Australia's fastest-growing areas but as the election draws near many people here don't think any Labor or Coalition policy will help them much.

by Tim Fernandez on April 29, 2025 at 8:59 pm

Young people in some of Australia's most expensive regional towns are disappointed with both major parties, as experts warn their policies are likely to push house prices up even further.

on April 29, 2025 at 8:51 pm

Canadian Prime Minister Mark Carney's Liberals will form government with a minority, according to Canadian public broadcaster CBC.

by Cointelegraph by Alex O’Donnell on April 29, 2025 at 8:51 pm

The US Securities and Exchange Commission (SEC) has postponed deciding on whether to greenlight two proposed cryptocurrency exchange-traded funds (ETFs) holding Dogecoin and XRP, filings show. The US regulator has delayed its deadline for ruling on the proposed ETF listings until June, according to two filings reviewed by Cointelegraph. The filings were responses to March requests from US exchanges NYSE Arca and Cboe BZX Exchange to list Bitwise’s Dogecoin (DOGE) ETF and Franklin Templeton’s XRP (XRP) ETF, respectively. They came on the same day that Nasdaq, another US exchange, asked for permission to list a 21Shares Dogecoin ETF. Dogecoin is the world’s most heavily traded memecoin, with a market capitalization of around $26 billion as of April 29, according to data from CoinGecko. XRP is the native token of the XRP Ledger blockchain network. It has a market capitalization of approximately $133 billion, CoinGecko data shows. The SEC has delayed its deadline for reviewing Franklin's XRP Fund. Source: SECRelated: Institutions break up with Ethereum but keep ETH on the hookDeluge of filingsIn 2025, the SEC has fielded requests to authorize dozens of altcoin ETFs for US listing. As of April 21, approximately 70 crypto ETFs were awaiting the SEC’s review. Asset managers are proposing funds holding “[e]verything from XRP, Litecoin and Solana to Penguins, Doge and 2x Melania and everything in between,” Bloomberg analyst Eric Balchunas said in an April 21 post on the X platform. The deluge of proposals comes as US President Donald Trump pushes the SEC to take a more accommodating stance toward cryptocurrencies. However, analysts caution investor demand for altcoin ETFs may be tepid in comparison to funds holding core cryptocurrencies such as Bitcoin (BTC) and Ether (ETH). “Having your coin get ETF-ized is like being in a band and getting your songs added to all the music streaming services,” Balchunas said. “Doesn’t guarantee listens but it puts your music where the vast majority of the listeners are.”Although US exchanges are embracing crypto ETFs, they are also urging the SEC to take a tough regulatory posture toward digital assets. In an April 25 comment letter, Nasdaq encouraged the SEC to hold digital assets to the same compliance standards as securities if they constitute “stocks by any other name.”Magazine: Financial nihilism in crypto is over — It’s time to dream big again

on April 29, 2025 at 8:43 pm

Les Kiss will be the next Wallabies coach, but not until next year after Joe Schmidt agreed to extend his tenure.

on April 29, 2025 at 8:40 pm

Police are investigating an alleged hit-and-run crash in Bundaberg that killed a 34-year-old cyclist overnight.

by Sundance on April 29, 2025 at 7:52 pm

Chopper pressers are the best pressers.  President Trump departs the White House en route to Michigan for a celebration of the economic success seeded in the first 100 days of his administration.  As President Trump leaves for the trip, he stops and answers questions from the assembled press pool.  WATCH: . Posted in President Trump, The post President Trump Holds Chopper Presser Departing for Michigan Celebration appeared first on The Last Refuge.

by Cointelegraph by Christopher Tepedino on April 29, 2025 at 7:20 pm

Bitget, a cryptocurrency exchange with 100 million users, has announced a partnership with Avalanche to support community initiatives across India, one of the fastest-growing areas for crypto and Web3 developers.The partnership will see at least $10 million doled out in mini-grants, scholarships, hackathons, and workshops to the Web3 community in the country. The initial focus will be in Delhi and Bangalore. Delhi is the most populous city in India, and Bangalore is known as the local “Silicon Valley.”Cryptocurrency activity in India has surged over the past two years. According to CoinSwitch, a local exchange, crypto investment across the country accelerated in 2024, with the highest concentrations in Delhi (20.1%), Bengaluru (9.6%), and Mumbai (6.5%). Youth 18- to 35-years-old now account for nearly 75% of the country's crypto investors. While Bitcoin (BTC) and Ether (ETH) remained popular choices, Dogecoin (DOGE) attracted the most investment in 2024, with other memecoins like Shiba Inu (SHIB) and Pepe (PEPE) also gaining significant traction.Related: India has no plans to regulate crypto sales and purchasesIndia's tech marketThe growth of India’s crypto ecosystem coincides with a wave of global exchanges either reentering the market or actively exploring a return. In February 2025, Bybit registered with local authorities and restored services in the country. In the same month, Coinbase began discussions with regulators seeking a comeback in the Indian market.India is expected to be among the first countries to finalize a bilateral trade agreement with the United States, aiming to avoid the imposition of reciprocal tariffs by President Donald Trump. In addition, the country is reportedly seeking a pact with the US to gain access to certain technologies and exports.According to Web3 venture capital firm Hashed Emergent, India already accounts for 12% of Web3 developers worldwide and contributed 17% of all new developers entering the crypto space in 2024.Related: Indian authorities arrest alleged Garantex founder for US extradition

by Cointelegraph by Marcel Pechman on April 29, 2025 at 7:15 pm

Key takeaways:Bitcoin tends to rally significantly when low leverage meets stronger-than-expected retail sales and hawkish Federal Reserve signals.In three separate 7-week periods, Bitcoin rose 50% to 84%.Upcoming speeches from Fed Chair Jerome Powell could benefit Bitcoin price.Bitcoin (BTC) price rallies are frequently linked to investors’ inflation concerns or data that surpasses expectations for economic growth, yet clear signals of an impending rally are rare. However, a combination of three independent events has historically coincided with BTC price surges of 50% or more.Bitcoin/USD, log scale. Source: TradingView / CointelegraphSignificant Bitcoin rallies occur when US Federal Reserve policy expectations ease, crypto market leverage is low, and strong retail data supports bullish momentum. The last occurrence of these three events saw Bitcoin’s price climb from $40,000 to $73,500 in seven weeks in early 2024.Comparable gains were recorded in early 2023, when the same three drivers aligned, propelling Bitcoin from $16,700 to $25,100 over seven weeks. A third example dates back to July 2021, culminating in a 76% price increase.Bitcoin gained 84% from Jan. 25, 2024, to March 13, 2024After stagnating near $43,000 in December 2023, Bitcoin’s price tested the $48,000 level in early January 2024. The failed breakout was followed by a sharp drop to $37,800 by late January, just as a seven-week bullish trend began. A crucial factor at this stage was the exceptionally low perpetual futures funding rate, sitting at 4% per year.Binance BTC perpetual futures funding rate, annualized. Source: TradingView / CointelegraphOther factors impacting the price reversal was US retail sales data for December 2023, released on Jan. 17, 2024, exceeded expectations, rising 0.6% month-over-month compared to the 0.4% forecast and US Federal Reserve Chair Jerome Powell’s Jan. 31, 2024 press conference that, signaled a tighter monetary stance, with no immediate interest rate cuts in sight.Bitcoin gained 50% from Jan. 3, 2023, to Feb. 20, 2023Prior to this rally, Bitcoin had consolidated below $18,000 for two months, resulting in minimal demand for leveraged long positions, as reflected by a near-zero perpetual futures funding rate.Binance BTC perpetual futures funding rate, annualized. Source: TradingView / CointelegraphThe landscape shifted on Jan. 3, 2023, when the funding rate on Binance surged to 50% within four days. This coincided with stronger-than-expected retail sales data for January 2023, which rose 3% month-over-month, outpacing the 1.9% consensus. Notably, Fed Chair Powell also suggested a tighter monetary policy to combat inflation during his speech at Sveriges Riksbank on Jan. 10, 2023.Bitcoin 76% rally: July 20, 2021 – Sept. 7, 2021From July 20, 2021, to Sept. 7, 2021, Bitcoin gained 76%. Bitcoin’s price had dropped from $40,000 to below $30,000 over the preceding month, dampening market sentiment. Suddenly, the annualized Bitcoin funding rate jumped from 0% to 37% in two weeks, while US retail sales data for June 2021 surprised economists by increasing 0.6%, even though consensus had predicted a 0.4% decline.During this period, Powell’s remarks at the Jackson Hole Economic Symposium on Aug. 27, 2021, indicated a potential reduction in central bank asset purchases, which was a move aimed at curbing inflation.Related: Ray Dalio says global monetary order ‘on the brink’ of breakdownBitcoin’s next potential upswingThe common thread linking these significant rallies is a reduction in expectations for expansionary Federal Reserve policy and initially low leverage demand from Bitcoin bulls. When these factors coincide with robust retail data, they create ideal conditions for a Bitcoin bull run, as traders tend to remain cautious ahead of possible economic downturns.Looking ahead, Fed Chair Powell is set to speak on June 18 following the central bank’s interest rate decision. Additional key dates include the Beige Book release on July 16 and the Jackson Hole Economic Symposium starting Aug. 21. Monitoring US retail sales data for May, due June 17, and for June, due July 15, will also be important.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 Zoltan Vardai on April 29, 2025 at 7:00 pm

Update (April 29 at 8:54 pm UTC): This article has been updated to include comments from Bunq's CEO to Cointelegraph. Europe’s second-largest neobank, Bunq, is expanding into cryptocurrency, citing growing retail investor demand for digital assets worldwide.The Amsterdam-based neobank announced the launch of Bunq Crypto on April 29, a new offering enabling its users to invest in over 300 cryptocurrencies, including Bitcoin (BTC), Ether (ETH) and Solana (SOL).Starting April 29, Bunq users in the Netherlands, France, Spain, Ireland, Italy and Belgium will be able to access cryptocurrencies directly through the Bunq app, according to an announcement.Bunq CEO Ali Niknam told Cointelegraph that the move was driven by growing client demand for digital assets. "We believe that now many, many people, the large majority, are interested in crypto, and we believe that they're interested in buying crypto through an environment that they can trust, and they can relate to and they can recognize," he said. Bunq's update event. Source: Bunq/CointelegraphMoreover, a friendlier regulatory landscape helped clear the path for the bank’s expansion into crypto. "I think for a long time, the future of crypto from a regulatory perspective was a bit unclear. And we have seen a lot of that change over the course of the past couple of months. And so we felt sufficiently assured as a regulated entity to now offer this to the general public," Niknam said.The crypto offering is powered in partnership with Kraken, the 14th-largest centralized cryptocurrency exchange globally by trading volume.Related: Coinbase to launch yield-bearing Bitcoin fund for institutionsAll-in-one financial platforms in focusThis marks the first phase of Bunq’s global crypto expansion, with plans to gradually roll out trading across the entire European Economic Area, as well as in the United States and the United Kingdom. As of June 2024, Bunq reported more than 12.5 million users, up from nine million users a year earlier. Bunq’s move reflects a broader trend among financial institutions seeking to consolidate services — banking, savings and investing — into single digital platforms. In a February post on X, Coinbase CEO Brian Armstrong said he expects future financial systems to be anchored by “a single primary financial account” where users manage all their financial activities.Related: Bitcoin treasury firms driving $200T hyperbitcoinization — Adam BackDemand for simplified crypto accessResearch commissioned by Bunq indicates a significant gap between available crypto offerings and user expectations in Europe. An estimated 65% of European consumers are seeking a unified platform to manage banking, savings and cryptocurrency investments, according to the study. Over 50% of surveyed investors want crypto exposure but said the existing platforms don’t meet their requirements, particularly regarding simplicity and security for new investors.“Our users across the world have long waited for a simple, safe and straightforward way to invest in digital assets,” said Ali Niknam, founder and CEO of Bunq. “Now, everything they will ever need to save, spend and invest — including crypto — is on one platform.”Bunq’s crypto expansion follows Revolut’s move in November 2024 to expand its crypto exchange services across 30 European Economic Area markets. Magazine: Ethereum is destroying the competition in the $16.1T TradFi tokenization race

by Sundance on April 29, 2025 at 6:27 pm

Last week CTH noted, “interested political followers in the USA should pay close attention to how the International Longshore and Warehouse Union (ILWA) respond to the corporate media narrative. …  Will the International Longshoremen’s Association stand with Trump, or will they drop support as the global trade reset emphasizes domestically manufactured jobs?  That will be The post BINGO – Longshoreman Union Announce Opposition to President Trump’s Tariff Program appeared first on The Last Refuge.

by Cointelegraph by Biraajmaan Tamuly on April 29, 2025 at 6:17 pm

Key Takeaways: Fidelity Digital Assets’ report said that multiple Ethereum onchain metrics suggest ETH trades at a discount.The BTC/ETH market cap ratio is at mid-2020 levels. Ethereum's layer-2 active addresses hit new highs at 13.6 million. Fresh data from Fidelity Digital Assets hints at a cautiously optimistic outlook for Ethereum, suggesting its dismal Q1 performance could be an opportunity. According to their latest Signals Report, Ether (ETH) dipped 45% during Q1, wiping out it post-US election gains after peaking at $3,579 in January.The altcoin posted a death cross in March, with the 50-day simple moving average (SMA) dipping 21% below the 200-day SMA, reflecting bearish momentum. Yet, Fidelity noted that the short-term pain may swing in the altcoin’s favor. The investment firm pointed out that the MVRV Z-Score, which compares market value to realized value, dropped to -0.18, entering the "undervalued" zone on March 9. Historically, such levels have marked market bottoms, indicating that Ether “was looking cheap” compared to its “fair value.” The Net Unrealized Profit/Loss (NUPL) ratio also fell to 0, indicating "capitulation," where unrealized profits equal losses, citing a neutral spot for holders. Ethereum MVRV Z-score. Source: Fidelity Digital Assets Signal reportETH’s realized price, averaging $2,020, sits 10% above its current value, showing holders face unrealized losses. While this trend is bearish, the firm noted that a minor 3% drop in realized price versus a 45% decline suggests short-term holders sold off, while long-term holders held firm, possibly stabilizing the base price. However, the company highlighted that in 2022, despite ETH price dipping below the realized price, it continued to decline further before recovery. Fidelity also cited Ethereum’s market cap ratio to Bitcoin at 0.13, sitting at mid-2020 levels, and in a decline for 30 months.Ethereum/Bitcoin market cap ratio. Source: Fidelity Digital Assets Signals reportRelated: Ethereum price has several reasons to break $2,000 nextEthereum ecosystem engagement records fresh highsData from growthepie.xyz indicated that the number of unique addresses interacting with one or two layer 2 networks in the Ethereum ecosystem reached a new all-time high of 13.6 million active addresses. The rate of active addresses is up 74% over the past week, implying the network’s scalability prowess and growing adoption. Ethereum’s weekly engagement with layer 2 networks. Source: growthepie.xyzUnichain, a new layer-2 protocol by Uniswap, led the charge with over 5.82 million weekly active addresses, surpassing Base and Arbitrum. The collective increase in active addresses improved Ethereum’s layer-2 dominance by 58.74% in the past seven days. Anonymous crypto trader CRG noted that ETH price recovered a position above the 12-hour Ichimoku cloud indicator for the first time since December 2024. The Ichimoku Cloud indicates an uptrend when the price is above the cloud and the cloud turns green, indicating bullish sentiment.Ethereum 12-hour analysis by CRG. Source: X.comRelated: Global central bank gold rush could spark Bitcoin price run to new all-time highsThis 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 Alex O’Donnell on April 29, 2025 at 5:57 pm

The United States exchange Nasdaq has asked regulators for permission to list a 21Shares exchange-traded fund (ETF) holding the popular memcoin Dogecoin, regulatory filings show. The move follows 21Shares’ April 10 filing of its initial proposal to launch its Dogecoin ETF, shortly after similar applications from rivals Bitwise and Grayscale. The asset manager has also sought regulators’ permission to list ETFs holding other cryptocurrencies, including Solana (SOL), XRP (XRP), and Polkadot (DOT). Nasdaq must gain approval from the Securities and Exchange Commission (SEC) before it can list and trade the fund. The request amounts to a regulatory review process that could determine whether Dogecoin becomes accessible to a broader range of investors through an ETF structure.Crypto ETFs scheduled for SEC review. Source: Eric Balchunas/BloombergRelated: 21Shares files for spot Dogecoin ETF in the USOnslaught of altcoin ETFsFund issuers requested to list dozens of altcoin ETFs after US President Donald Trump instructed the SEC to take a friendlier stance toward cryptocurrencies after his second term began in January. As of April 21, more than 70 crypto ETFs were awaiting the SEC’s review. The list includes alternative layer-1 (L1) native tokens, such as SOL and Sui (SUI), as well as memecoins such as Bonk (BONK) and Official Trump (TRUMP). While exchanges such as Nasdaq seek to list more crypto ETFs, they are also pushing for firmer US regulatory oversight of digital assets. In an April 25 comment letter, Nasdaq urged the SEC to hold digital assets to the same regulatory standards as securities if they constitute “stocks by any other name.”Dogecoin network metrics. Source: Bitinfocharts.comDogecoin utilityDogecoin (DOGE) is a popular memecoin with a market capitalization of nearly $26 billion as of April 29, according to CoinGecko. It is distinct from most other memecoins because DOGE is the native token of the Dogecoin network. The proof-of-work blockchain network is designed as a faster, cheaper alternative to Bitcoin (BTC) for peer-to-peer payments. It processed more than 40,000 transactions in the past 24 hours, according to data from Bitinfocharts.com.In September 2024, blockchain developers QED Protocol and Nexus tipped plans to launch a layer-2 (L2) scaling solution designed to bring smart contracts to Dogecoin.Magazine: Altcoin season to hit in Q2? Mantra’s plan to win trust: Hodler’s Digest, April 13 – 19

by Sundance on April 29, 2025 at 4:18 pm

DAY 100 Press Briefing by the White House Press Secretary Karoline Leavitt and Treasury Secretary Scott Bessent on Unleashing Economic Greatness. Inbound Investments So Far: Project Stargate, led by Japan-based Softbank and U.S.-based OpenAI and Oracle, announced a $500 billion private investment in U.S.-based artificial intelligence infrastructure. Apple announced a $500 billion investment in U.S. The post Day 100, Treasury Secretary Scott Bessent and Press Secretary Karoline Leavitt Hold a White House Briefing appeared first on The Last Refuge.

by Sundance on April 29, 2025 at 3:33 pm

After losing to far-left, WEF controlled Mark Carney, Pierre Poilievre swore to stand firm as the leader of the conservative party in Canada.  However, as dawn breaks it is revealed that Poilievre lost his own district in the election. CANADA – Pierre Poilievre, the leader of the Conservative Party, was unseated as the parliamentary representative of The post Canadian “Conservative” Candidate, Pierre Poilievre Lost His Own District Seat in Election appeared first on The Last Refuge.

by Sundance on April 29, 2025 at 3:18 pm

After spending three months riding his bicycle in slow circles at the bottom of the White House driveway while staring in the windows, it was reported this morning that a frustrated Jeff Bezos would announce his Amazon company would start to label the tariff impact on all products sold by the company. However, in the The post REPORT: Bezos Announces Country of Origin Labeling for All Imported Products Sold on Amazon – Amazon Denies Report appeared first on The Last Refuge.

by Cointelegraph by Turner Wright on April 29, 2025 at 3:08 pm

The United Kingdom’s Treasury and Chancellor of the Exchequer, Rachel Reeves, have proposed new crypto rules aimed at “support[ing] innovation while cracking down on fraudsters.”In an April 29 notice, the UK government announced draft rules for cryptocurrencies, including Bitcoin (BTC) and Ether (ETH), that would bring “crypto exchanges, dealers and agents” in line with regulations, as many residents were “exposed to risky firms and scams.” It cited discussions with US government officials, including a proposed US-UK cross-border sandbox from the Securities and Exchange Commission’s Hester Peirce.“Today’s announcement sends a clear signal: Britain is open for business — but closed to fraud, abuse, and instability,” said the notice. “The government will bring forward final cryptoasset legislation at the earliest opportunity, following engagement on the draft provisions with industry.”Related: UK trade bodies ask government to make crypto a ‘strategic priority’Treasury and Reeves said the UK was committed to making the country a “global hub for digital asset technologies,” referencing the goals of the previous government under the Conservative Party. A 2023 consultation paper from Treasury proposed “bringing a wide range of cryptoasset activities” — including trading and issuing stablecoins — in line with UK regulations.Praise from industryIn a statement shared with Cointelegraph, Ian​​​​ Silvera, the associate director for the self-regulatory trade association CryptoUK, called the government announcement a “very much welcomed and a big victory” for crypto firms. However, he added that the industry could also benefit from regulatory clarity on liquid staking and DeFi.“Though there has been good regulatory progress from the [Financial Conduct Authority], which published its crypto roadmap late last year, the UK government first committed to becoming a global crypto hub in 2022,” said Silvera. “Progress has been slow since then, but as the Chancellor has recognised herself the mainstreaming of the industry has continued, with now 12% of all UK adults owning some sort of crypto, up from 4% in 2021.”The FCA plans to publish final rules on crypto sometime in 2026, setting the groundwork for the UK regulatory regime to go live. The roadmap to greater regulatory clarity in the UK could follow the European Union, which started to implement its Markets in Crypto-Assets (MiCA) framework in December.Magazine: Financial nihilism in crypto is over — It’s time to dream big again

by Cointelegraph by Felix Xu on April 29, 2025 at 3:00 pm

Opinion by: Felix Xu, co-founder of ARPA Network and Bella ProtocolAI has been a dominant narrative since 2024, but users and companies still cannot completely trust it. Whether it’s finances, personal data or healthcare decisions, hesitation around AI’s reliability and integrity remains high.This growing AI trust deficit is now one of the most significant barriers to widespread adoption. Decentralized, privacy-preserving technologies are quickly being recognized as viable solutions that offer verifiability, transparency and stronger data protection without compromising AI’s growth.The pervasive AI trust deficit AI was the second most popular category occupying crypto mindshare in 2024, with over 16% investor interest. Startups and multinational companies have allocated considerable resources to AI to expand the technology to people’s finances, health, and every other aspect.For example, the emerging DeFi x AI (DeFAI) sector shipped more than 7,000 projects with a peak market cap of $7 billion in early 2025 before the markets crashed. DeFAI has demonstrated the transformative potential of AI to make decentralized finance (DeFi) more user-friendly with natural language commands, execute complex multi-step operations, and conduct complex market research.Innovation alone hasn’t, however, solved AI’s core vulnerabilities: hallucinations, manipulation and privacy concerns.In November 2024, a user convinced an AI agent on Base to send $47,000 despite being programmed never to do so. While the scenario was part of a game, it raised real concerns: Can AI agents be trusted with autonomy over financial operations?Audits, bug bounties and red teams help but don’t eliminate the risk of prompt injection, logic flaws or unauthorized data use. According to KPMG (2023), 61% of people still hesitate to trust AI, and even industry professionals share that concern. A Forrester survey cited in Harvard Business Review found that 25% of analysts named trust as AI’s biggest obstacle.That skepticism remains strong. A poll conducted at The Wall Street Journal’s CIO Network Summit found that 61% of America’s top IT leaders are still experimenting with AI agents. The rest were still experimenting or avoiding them altogether, citing lack of reliability, cybersecurity risks and data privacy as top concerns.Industries like healthcare feel these risks most acutely. Sharing electronic health records (EHR) with LLMs to improve outcomes is promising, but it is also legally and ethically risky without airtight privacy protections.For example, the healthcare industry suffers adversely from data privacy breaches. This problem compounds when hospitals share EHR data to train AI algorithms without protecting patient privacy.Decentralized, privacy-preserving infrastructureJ.M. Barrie wrote in Peter Pan, “All the world is made of faith, and trust, and pixie dust.” Trust isn’t just a nice to have in AI — it’s foundational. AI’s projected economic boon of $15.7 trillion by 2030 may never materialize without it.Enter decentralized cryptographic systems like zero-knowledge succinct non-interactive arguments of knowledge (ZK-SNARKs). These technologies offer a new path: allowing users to verify AI decisions without revealing personal data or the model’s inner workings.By applying privacy-preserving cryptography to machine learning infrastructure, AI can be auditable, trustworthy and privacy-respecting, especially in sectors like finance and healthcare.Recent: Blockchain’s next big breakthroughs: What to watchZK-SNARKs rely on advanced cryptographic proof systems that let one party prove something is true without revealing how. For AI, this enables models to be verified for correctness without disclosing their training data, input values or proprietary logic.Imagine a decentralized AI lending agent. Instead of reviewing full financial records, it checks encrypted credit score proofs to make autonomous loan decisions without accessing sensitive data. This protects both user privacy and institutional risk.ZK technology also addresses the black-box nature of LLMs. By using dynamic proofs, it’s possible to verify AI outputs while shielding both data integrity and model architecture. That’s a win for users and companies — one no longer fears data misuse, while the other safeguards its IP.Decentralized AI We’re entering a new phase of AI where better models aren’t enough. Users demand transparency; enterprises need resilience; regulators expect accountability.Decentralized, verifiable cryptography delivers all three.Technologies like ZK-SNARKs, threshold multiparty computation, and BLS-based verification systems aren’t just “crypto tools” — they’re becoming the foundation of trustworthy AI. Combined with blockchain’s transparency, they create a powerful new stack for privacy-preserving, auditable and reliable AI systems.Gartner predicted that 80% of companies will be using AI by 2026. Adoption won’t be driven by hype or resources alone. It will hinge on building AI that people and companies can actually trust.And that starts with decentralization.Opinion by: Felix Xu, co-founder of ARPA Network and Bella Protocol.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 William Suberg on April 29, 2025 at 2:45 pm

Key points:Bitcoin’s most recently-moved supply segment is increasing as higher prices see an influx of “speculative capital.”“Hot supply” has doubled in just five weeks versus local lows in March.Active address numbers have yet to mimic a classic bull market comeback.Bitcoin (BTC) short-term holders (STHs) are back in the game as a “speculative capital” enters the market.In an X thread on April 29, onchain analytics firm Glassnode reported a surge in Bitcoin’s so-called “hot capital.”Bitcoin sees “surge in capital turnover”New investors are entering the market as BTC price action circles its highest levels in several months.Glassnode reveals that the sum of coins which last moved up to a week ago has reached its largest figure since early February.“This metric captures short-term holder activity and is a proxy for speculative capital entering the market,” it explains.In the past week alone, hot capital has shot up by over 90% to near $40 billion. Since local lows in late March, hot capital has increased by $21.5 billion, a “surge in capital turnover” which underscores a sea change in market sentiment.“BTC hot capital bottomed at $17.5B on 23 Mar - its lowest level since Dec,” Glassnode summarizes. “In just 5 weeks, it has added over $21.5B, suggesting a rapid shift from dormancy to speculation among newer market entrants.”Bitcoin “hot supply” data. Source: Glassnode/XBTC bull market comeback in progressAs Cointelegraph continues to report, STH investors have recently returned to aggregate profit as price hovers near $95,000.Related: Bitcoin in 'critical zone' as triple breakout meets $93.5K support battleAnalyzing overall network participation, however, Glassnode suggested that a full bull market comeback has not yet taken place.“Signs of early FOMO are emerging, with the Hot Capital Share ticking higher and profitability metrics like Percent Supply in Profit (86%) and NUPL (0.53) expanding notably,” it wrote in an introduction to its latest “Market Pulse” analysis piece released on April 28.“However, while on-chain activity such as transfer volume and fees are recovering, daily active addresses remain suppressed, suggesting that full organic network engagement is still rebuilding.”Bitcoin active addresses (7-day simple moving average). Source: GlassnodeEarlier this week, other sources reported on the potential dangers of “FOMO” when it comes to an enduring BTC price recovery.This article does not contain investment advice or recommendations. Every investment and trading move involves risk, and readers should conduct their own research when making a decision.New analysis on April 29 from Axel Adler Jr., a contributor to onchain analytics platform CryptoQuant, shows 

by Cointelegraph by Adrian Zmudzinski on April 29, 2025 at 2:28 pm

Cryptocurrency compliance firm Bitrace found that $649 billion worth of stablecoins flowed through addresses classified as high-risk in 2024, according to an April 29 report.Bitrace defines high-risk blockchain addresses as those used by illegal entities to receive, transfer or store stablecoins.Crypto compliance firms typically score crypto wallet addresses based on their likelihood of involvement in illicit activities. The higher the risk, the higher the likelihood of foul play, and the less likely compliant crypto businesses are to accept the assets.Per the report, the amount accounted for roughly 5.14% of all stablecoin transaction volume in 2024. This is down 0.8% from 5.94% the previous year, but significantly higher than the 2.8% reported in 2022 and 1.63% in 2021.Proportion of high-risk stablecoin transactions. Source: BitraceRelated: Americans lost $9.3B to crypto fraud in 2024 — FBITron USDT tops high-risk transactionsTron-based USDt (USDT) dominates high-risk stablecoin transactions, with Bitrace data indicating that well over 70% of the volume moved on the network. The remaining high-risk stablecoin transactions are mostly Ethereum-based USDt and a small amount of USDC (USDC).A likely explanation for the prevalence of USDT is likely due to its larger market capitalization and adoption compared with other stablecoins. At the time of writing, CoinMarketCap shows that USDt has a market cap of over $148 billion, while USDC stands at over $62 billion.Tron’s prevalence is not as easy to explain. Ethereum remains the more popular choice for most stablecoin users, with DefiLlama showing nearly $124.3 billion worth of stablecoins circulating on the network. Tron ranks second, with about $71 billion — almost 43% less than Ethereum.When comparing USDT balances alone, Tron holds slightly more than Ethereum: 47.4% of USDT supply, versus Ethereum’s 45.44%.High-risk inflows by stablecoin type. Source: BitrueRelated: Tether stablecoin issuer and Tron launch financial crime unitCrypto gambling continues its riseBitrace also reported that in 2024, online gambling platforms processed $217.8 billion worth of stablecoins — a 17.5% increase over the previous year.Once again, USDT also dominated this type of activity. Still, USDC’s market share is rapidly rising, clocking in at 13.36% in 2024.Stablecoin inflows to gambling platforms. Source: BitrueThe data follows recent reports that crypto casinos generated more than $81 billion in revenue in 2024, even as regulators in key jurisdictions continued to block access to the platforms, according to a new report.Magazine: Ridiculous ‘Chinese Mint’ crypto scam, Japan dives into stablecoins: Asia Express

by Cointelegraph by Yashu Gola on April 29, 2025 at 1:56 pm

Key takeaways:XRP trades over 120% above its realized price, flashing heightened correction risk.A rising wedge breakdown on the 4H chart could send XRP toward $1.89 by mid-May.Weekly falling wedge pattern and 50-week EMA support suggest a possible 25% recovery to $2.92 by June.XRP (XRP) price has rebounded by over 40% in the last three weeks to reach over $2.28 on April 29, but it’s still trading over 30% below its local high of $3.39.XRP/USD daily price chart. Source: TradingViewWill XRP’s price sustain the recovery or drop further in the coming days?XRP’s rising wedge flashes selloff risksXRP is showing signs of a potential breakdown as a rising wedge pattern forms on its 4-hour chart, raising the risk of a sharp short-term correction.As of April 29, XRP trades around $2.29, hovering near the wedge’s upper resistance. The pattern, defined by converging upward-sloping trendlines, typically signals weakening bullish momentum and a likely trend reversal. XRP/USD four-hour price chart. Source: TradingViewA confirmed breakdown below the wedge’s lower support could push XRP toward $1.89, down about 17% from current levels, by mid-May.Supporting the bearish outlook is XRP’s relative strength index (RSI), which sits near 60, indicating that it’s approaching overbought territory, which may lead to profit-taking by traders.XRP realized price is near $1 XRP’s current realized price (aggregated) of $1.02 represents the average acquisition cost of all circulating tokens. It serves as a key indicator of market sentiment, helping to identify periods of overvaluation or undervaluation.As of April 29, XRP was trading around $2.28, more than 120% above its realized price. Historically, when XRP trades far above its realized price, it tends to reflect speculative euphoria and elevated risk.XRP realized price aggregated. Source: TradingViewIn early 2018 and mid 2021, huge divergences between XRP’s spot and realized price preceded sharp corrections toward the realized price target, as shown above. In 2025, the gap between spot and realized price has increased similarly.If bullish momentum weakens, XRP may face increased selling pressure, potentially retracing toward the realized price level near $1.02, down by over 50% from the current price levels.XRP falling wedge could save the bulls XRP is flashing signs of bullish continuation as it holds firmly above its 50-week exponential moving average (EMA) near $1.67, a level that acted as resistance throughout the 2022–2024 bear cycle and is now serving as strong support.XRP/USD weekly price chart. Source: TradingViewAdditionally, XRP is forming a classic falling wedge pattern on the week chart, a structure often associated with bullish reversal breakouts. The tightening price range suggests declining selling pressure, with a potential breakout looming if bulls manage to push price above the wedge’s upper trendline.Related: XRP futures open interest surges by 32% — Are traders bullish or bearish?A successful breakout could target the $2.92 level by June, marking a 25% rally from the current price. Supporting this outlook, the RSI has bounced from the midline, indicating a potential return of buying momentum.This article does not contain investment advice or recommendations. Every investment and trading move involves risk, and readers should conduct their own research when making a decision.

by Cointelegraph by Nancy Lubale on April 29, 2025 at 1:33 pm

Key takeaways:Strong Ethereum ETF inflows signal high institutional demand.Ethereum’s $51.8B TVL and 30% DEX weekly volume rise show robust network strength.A bull flag pattern on the ETH’s four-hour chart targets $2,100.Ether’s (ETH) price rose to a new range high at $1,860 on April 28, its highest value since April 2.Several analysts argue that the ETH price needs to hold above $1,800 to increase the chances of rising higher.“Once ETH confirms this 4H close above resistance [$1,800], Ether and altcoins will finally get their time to shine,” trader Kiran Gadakh said in an April 29 post on X.  “I can feel it in my bones, $2,000 ETH coming fast.” ETH/USD 12-hour chart. Source: Kiran GadakPopular analyst Nebraskangooner opined that if ETH faces high volume rejection from the $1,800 level, it might drop to test support levels around $1,600.Source: NebraskangoonerEthereum ETF demand returnsSeveral data metrics suggest that Ether is well-positioned to break out toward $2,000 in the following days or weeks.One factor supporting Ether's bull case is resurgent institutional demand, reflected by significant inflows into spot Ethereum exchange-traded funds (ETFs).On April 28, Ethereum ETFs saw a net inflow totaling $64.1 million. This followed inflows totalling $151.7 million during the week ending April 25, the highest since February 2025. Spot Ethereum ETF netflows. Source: SoSoValueThe increase in institutional demand was reinforced by net inflows of $183 million into Ethereum investment products last week, ending an eight-week streak of outflows, as reported by CoinShares. This trend reflects growing confidence among traditional finance players, as observed by market analysts like CoinShares' head of research, James Butterfill, who noted:“We believe concerns over the tariff impact on corporate earnings and the dramatic weakening of the US dollar are why investors have turned toward digital assets, which are being seen as an emerging safe haven.”Institutional buying creates sustained upward pressure on Ether’s price by absorbing the available supply.Strong Ethereum onchain activity is backEthereum remains the undisputed top layer-1 blockchain with more than $51.8 billion in total value locked (TVL) on the network, according to data from DefiLlama. The chart below shows that Ethereum's TVL has increased by approximately 16% over the last seven days.Ethereum TVL and daily DEX volumes. Source: DefiLlamaAave was among the strongest performers in Ethereum deposits, with the TVL rising 13.5% over seven days. Other notable increases included Lido (12%), EigenLayer (13%), and Ether.fi (12%).Compared to other top-layer networks, the Ethereum network towers above its rivals in terms of TVL growth in the daily and weekly time frames, except SUI, which has seen a 47% increase in its TVL over the last seven days.Ethereum’s daily DEX volumes have increased by more than 30% over the last week, to $1.65 billion. However, this is significantly lower than the 78% and 44% increases on SUI and Solana, respectively. Related: Ethereum Foundation shuffles leadership, splits board and managementETH price bull flags targets $2,100The ETH/USD pair has a good chance of resuming its upward momentum despite the rejection at $1,860, as the chart shows a classic bullish pattern.Ether’s price action over the past week has led to a bull flag pattern on the four-hour chart, as shown in the figure below. A four-hour candlestick close above the flag’s upper boundary at $1,800 on April 29 suggests the start of an upward move.The flagpole’s height sets the target, which projects Ether’s price ascent to $2,100 or approximately a 15% increase from the current price.ETH/USD 4-hour chart w/ bull flag pattern. Source: Cointelegraph/TradingViewAnother bullish indicator is the relative strength index, which is moving within the positive region at 60, suggesting that the market conditions still favor the upside.As Cointelegraph reported, increased demand from the $1,700 area (at the 20-day SMA) should serve as a solid foundation for ETH price to reach the $2,110 level, eventually topping out at $2,500.This article does not contain investment advice or recommendations. Every investment and trading move involves risk, and readers should conduct their own research when making a decision.

by Cointelegraph by Cointelegraph on April 29, 2025 at 1:29 pm

Today in crypto, the US Department of Justice has requested a 20-year prison sentence for Alex Mashinsky, the co-founder and former CEO of defunct crypto lender Celsius, a crypto group petitioned the White House to drop charges against crypto devs, including Tornado Cash’s Roman Storm, and Arizona’s House passed two crypto reserve bills.US DOJ requests 20-year sentence for Celsius founder Alex MashinskyAlex Mashinsky, the founder and former CEO of the now-defunct cryptocurrency lending platform Celsius, faces a 20-year prison sentence as the US Department of Justice (DOJ) seeks a severe penalty for his role in a multibillion-dollar fraud.The DOJ on April 28 filed the government’s sentencing memorandum against Mashinsky, recommending a 20-year prison sentence for his fraudulent actions, which led to billions of dollars in losses for Celsius customers.The 97-page memo mentioned that Celsius users were unable to access approximately $4.7 billion in crypto assets after the platform halted withdrawals on June 12, 2022.“The Court should sentence Alexander Mashinsky to twenty years’ imprisonment as just punishment for his years-long campaign of lies and self-dealing that left in its wake billions in losses and thousands of victimized customers,” the DOJ stated.In addition to the investor losses, the DOJ noted that Mashinsky has personally profited from the fraudulent schemes in his role.As part of his guilty plea in December 2024, Mashinsky admitted that he was the leader of the criminal activity at Celsius, that his crimes resulted in losses in excess of $550 million, and that he personally benefited more than $48 million, the DOJ said.An excerpt from the government’s sentencing memorandum against Celsius founder Alex Mashinsky. Source: CourtListenerThe DOJ highlighted that Mashinsky’s guilty plea showed that his crimes were “not the product of negligence, naivete, or bad luck,” but rather the result of “deliberate, calculated decisions to lie, deceive, and steal in pursuit of personal fortune.”Crypto group asks Trump to end prosecution of crypto devsThe DeFi Education Fund has led an April 28 petition to White House crypto czar David Sacks asking to end what it claimed was the “lawless prosecution” of open-source software developers, including Roman Storm, a creator of the crypto mixing service Tornado Cash.The group urged President Donald Trump “to take immediate action to discontinue the Biden-era Department of Justice's lawless campaign to criminalize open-source software development.” They said that in Storm’s case, who was charged in August 2023 with helping launder over $1 billion in crypto through Tornado Cash, the Department of Justice is attempting to hold software developers criminally liable for how others use their code, which is “not only absurd in principle, but it sets a precedent that potentially chills all crypto development in the United States.”Source: DeFi Education FundThe petition has so far attracted over 250 signatures from industry executives and developers.Meanwhile, lawyers for executives of the crypto mixer Samourai Wallet, charged with money laundering and unlicensed money transmitting, said prosecutors are mulling whether to dismiss the case after Deputy Attorney General Todd Blanche shuttered the DOJ’s crypto team earlier this month.Arizona legislature moves forward with Bitcoin reserve billsLawmakers in the Arizona House of Representatives have voted to pass two bills that could allow the state to adopt a reserve using Bitcoin (BTC) or other cryptocurrencies.In a third reading on April 28 of the Senate Bill 1025 (SB1025), a proposal to amend Arizona’s statutes to allow for a strategic BTC reserve, 31 members of the Arizona House voted in favor of the bill, with 25 opposed. A similar bill, SB1373, to establish a state-level digital assets reserve, passed with 37 lawmakers in favor and 19 voting nay.“This bill basically takes the approach that probably 15 other states are considering the same legislation nationwide that allows the treasurer to invest up to 10% into, probably mainly Bitcoin but other things as well,” said State Representative Jeff Weninger on SB1025. “I think this probably would start as a ‘may’ for the foreseeable future, but as things continue to pivot towards Bitcoin and these things, would have that already in place in the future.”Voting for SB1025 in the Arizona House of Representatives on April 28. Source: Arizona State Legislature