While United States dollar-denominated stablecoins dominate the stablecoin and real-world asset (RWA) tokenization game, other competitors are coming into play, according to Tether co-founder Reeve Collins.  Speaking to Cointelegraph in Dubai, Collins said that while USD-backed stablecoins may currently dominate, other currencies and assets may compete to back stablecoins. He said:  “The stablecoin definitely helps preserve the dollar dominance, especially in the crypto space. The dollar is kind of the reserve currency of crypto. But now there are other currencies coming into play. But more importantly, it's not currencies. It's other types of backing.” Collins said that these other assets used to back stablecoins may compete with US dollars by bringing a higher yield to users.  Interview with Tether co-founder Reeve Collins in Dubai, UAE. Source: Cointelegraph  Tether co-founder says tokenized assets can back stablecoins Collins, who works bringing stablecoin yield for users through Pi Protocol, told Cointelegraph that apart from currencies, money-market funds, other commodities and gold could back stablecoins in the future.  “When you can back it with money market funds, for instance, that generate a higher yield than T-bills and other things like that that are coming onchain, where there’s a lot of yield that will be generated. Those will take precedence,” Collins said.  Collins said these will “start winning” because they bring higher user returns. Furthermore, the executive also said RWA tokenization could play a role in stablecoin backing.  The executive told Cointelegraph that since all types of assets can be tokenized, these can be used to back stablecoins in the future. “You’re going to have a lot of choices other than just dollars,” he added.  Related: Tether boosts Juventus stake to 10% in latest strategic buy Trump-linked stablecoin lays foundation for the rest of the world In March, the World Liberty Financial (WLFI) project, backed by US President Donald Trump, launched its stablecoin on BNB Chain and Ethereum. However, the project said that the tokens were not tradable yet.  According to Collins, the stablecoin entry of a Trump-backed project means that stablecoins are now “fully accepted.” The executive believes everyone will get involved in stablecoins because of the move. This includes institutions, governments and financial technology companies.  “The President of the United States launched a stablecoin. It’s impressive. It lays the foundation for the rest of the world to do it as well,” he said.  Magazine: Ethereum is destroying the competition in the $16.1T TradFi tokenization race

Despite growing competition from emerging issuers, the stablecoin market remains largely dominated by a few key players. According to data from Web3 research firm Nansen, Tether’s USDt continues to lead among US dollar-pegged stablecoins, even as competition intensifies. As of April 25, Tether (USDT) has a roughly 66% market share among stablecoins, compared to around 28% for USDC (USDC), Nansen said in the April 25 report. Ethena’s USDe stablecoin ranks a distant third, touting a market share of just over 2%. Nansen expects Tether’s lead to endure even as rivals such as USDC clock faster growth rates. “With nearly 3x as many users as Uniswap and 50+% more transactions than the next app, Tether is by and far the largest use case of onchain activity,” Nansen said. “Despite the potential dispersion in stables, we inevitably believe this is a ‘winner-takes-most’ market dynamic,” the Web3 researcher added.  Tether has 66% of stablecoin market share. Source: Nansen Tether is also the most profitable stablecoin issuer, clocking nearly $14 billion in 2024 profits. The company earns revenue by accepting US dollars to mint USDT and subsequently investing those dollars into highly liquid, yield-bearing instruments such as US Treasury bills.  “Given the growth of USDT and USDC, the users are clearly expressing that they do not necessarily care about the yield as they are forgoing it to Tether and Circle -they simply want access to the most liquid and ‘stable’/ least-likely-to-depeg stablecoin out there,” Nansen said. USDC has seen faster growth than USDT since November. Source: Nansen Competitive landscape Adoption of USDC has accelerated since November, when US President Donald Trump’s election victory ushered in a more favorable US regulatory environment for crypto, Nansen said. Circle’s US-regulated stablecoin has been “particularly attractive to institutions requiring regulatory clarity,” the report said. But USDC now faces “intensifying competition as major traditional financial institutions (i.e., Fidelity, PayPal, and banks) enter the market,” Nansen said, adding that stablecoins, including PayPal’s PYUSD and Ripple USD, are “rapidly gaining traction.”  On April 25, payment processor Stripe tipped plans to create a new stablecoin product of its own after buying stablecoin platform Bridge last year. Despite its smaller market share, Ethena's yield-bearing USDe stablecoin remains “competitive on most fronts moving forward,” partly because of integrations across centralized exchanges (CEXs) and decentralized finance (DeFi) protocols, the report said. Since launching in 2024, Ethena’s stablecoin has generated an average annualized yield of approximately 19%, according to Ethena’s website. Magazine: Bitcoin payments are being undermined by centralized stablecoins

Gold-backed cryptocurrencies have spiked in value amid the global trade war unleashed by US President Donald Trump’s April 2 tariffs. Tether Gold (XAUT) and Paxos Gold (PAXG) reached all-time highs on April 22, with Tether Gold touching $3,529 and Paxos Gold recording a peak of $3,520, according to data from CoinMarketCap. Two other gold-backed cryptocurrencies — Quorium (QGOLD) and Kinesis Gold (KAU) — have seen rises of 8.5% and 7.6%, respectively, in the past 30 days. All four tokens are up 40% or more in the past 12 months, CoinGecko data shows. Related: Tether clocks $13B in 2024 profits, US bond holdings hit all-time highs According to a report by Tether, the increased demand for XAUT is due to macroeconomic factors, such as escalating global economic uncertainty, geopolitical conflicts, and a rising demand for inflation-resistant assets. Since US President Trump’s renewed trade war, gold has increased significantly in value. On April 2, Trump’s “Liberation Day,” when the tariffs were announced, the price of one ounce of gold was $3,115. At the time of this writing, on April 28, the ounce price is at $3,335, representing a 7% jump in less than 30 days. Gold price in USD over one month. Source: GoldPrice.org Gold, often seen as a hedge against inflation, usually attracts investors during times of economic uncertainty. In similar lines, Bitcoin (BTC), often referred to as “digital gold,” has soared 14% during the same period. Growing RWA market Real-world asset (RWA) tokenization — products that bring assets like precious metals, bonds, and real estate onto the blockchain — is a growing market. According to RWA.xyz, the tokenized RWA market capitalization (excluding stablecoins) stands at $21.6 billion, up 8.6% over the past 30 days. Tether Gold and Paxos Gold are examples of RWA tokenization. Each coin in both products is reportedly backed by one troy ounce of actual gold. Tether is said to store its gold reserves in Switzerland, while Paxos keeps its gold in London. Tokenized gold has been a strong crypto use case in 2025, reaching a two-year high in trading volume on April 10. Tokenizing gold has a few advantages over more common investment instruments that provide exposure to gold. For instance, settlements through these funds are instant, enabling quick trading. In addition, some tokenized gold tokens can be used to purchase goods and services, while traditional instruments can usually be redeemed only for fiat currency. Related: Tether launches gold-backed, US dollar stablecoin Alloy

Opinion by: Steven Smith, head of protocol and applied research, Tools for Humanity Blockchains were designed as systems of trust that are transparent, decentralized and accessible. The age of AI has, however, introduced significant new challenges. Nearly half of all internet traffic is generated by bots, with up to 80% of blockchain transactions now automated and AI agents accounting for most onchain activity.  While some bots serve legitimate and helpful purposes, others — like those used for airdrop farming and fake account creation — clog networks, drive up fees, and monopolize space and resources. It’s up to humans to protect the blockchains we know and love, ensuring that people aren’t unfairly disadvantaged by automated systems, insulated from the effect of maximal extractable value attacks and exploits, and free from the need to pay significant gas fees to be included in a block. The bot takeover is already here AI bots are becoming more integral to networks and capable of more sophisticated exploits, dominating trading volumes, driving up gas fees, and manipulating decentralized finance (DeFi) markets. In some cases, networks have seen failure rates surge past 75% due to bot-induced congestion. Even Ethereum’s mempool is increasingly flooded with automated transactions, forcing human users to compete for scarce block space. The problem extends beyond blockchain networks — it’s affecting the entire economy. AI-powered bots are set to disrupt traditional banking and financial services, threatening the very foundations of how money is managed and transactions are conducted. It’s only a matter of time before bad actors begin deploying new AI-driven fraud tools at scale, creating an unprecedented security nightmare for financial institutions, businesses and users alike.  This has already begun. AI-driven botnets fueled a 55% surge in distributed denial-of-service (DDoS) attacks against the banking and financial services industry during 2024. If action isn’t taken, humans risk ceding control of both decentralized and traditional financial systems to automated systems optimized for speed and scale — not fairness or accessibility.  Scalability alone won’t solve this problem So far, the response to these issues has focused on scalability. Layer-2 solutions, rollups and high-performance execution clients make transactions faster and cheaper.  Scaling without a focus on human users, however, leads to unintended consequences. Lower fees mean attackers can cause much grief for little cost, and bots can flood networks more easily. Meanwhile, faster transactions mean AI traders can outcompete human investors even faster. Recent: Don't be afraid of quantum computers This has played out repeatedly already. A spam attack on Zcash severely disrupted its blockchain. During its token launch, Manta Network suffered a DDoS attack, slowing withdrawals and frustrating users. On Ethereum, bots have been used to manipulate gas prices during high-traffic periods, resulting in delayed transactions and higher transaction fees for real humans. While scalability is critical, it’s equally important to prioritize another fundamental element of blockchain design: proof-of-human. Proof-of-human infrastructure Proof-of-human infrastructure is a mechanism that digitally verifies a person’s humanness and uniqueness. This is key to keeping control of blockchain systems in human hands, giving real people the power to ensure blockchains don’t become automated playgrounds for bots — especially as AI agents continue to scale.  Proof-of-human systems ensure blockchain architecture evolves with a human-first approach. Networks should allocate guaranteed block space for verified human users, ensuring that automated trading bots don’t push out essential transactions. Introducing gas subsidies for human users can also prevent them from being priced out during periods of extreme network congestion. Optimized execution clients can enhance efficiency while implementing safeguards against bot-driven spam.  Blockchain architecture has made remarkable strides in scalability, interoperability and security. We also still need to ensure positive experiences for humans. As an industry, it’s fundamental to provide the ability to distinguish between real people and bots online to ensure the sector can continue to grow in the long run.  The choice is ours. We can allow unproductive bots to take over our networks, pushing out human users and undermining the core promise of decentralization. Or, we can implement the necessary parameters to keep blockchains human-centric and ensure greater control over productive bots, ensuring fairer access, security and sustainability. Now is the time to act. The future of blockchain and bringing more humans onchain depend on it. Opinion by: Steven Smith, head of protocol and applied research, Tools for Humanity. 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.

Update (April 28, 10:26 pm UTC): This article has been updated to add commentary from Tim Beiko that the EOF upgrade was removed from the Fusaka upgrade. Ethereum’s Fusaka hard fork is expected to take place in the third or fourth quarter of this year, according to an Ethereum Foundation official. In an April 28 X post, Ethereum Foundation co-executive director Tomasz Kajetan Stańczak said that the organization is aiming to deploy the Fusaka Ethereum network upgrade in Q3 or Q4 2025. Still, the exact rollout schedule has not been decided yet. Stańczak said a controversial implementation of the EVM object format (EOF) upgrade for the Ethereum Virtual Machine (EVM) was expected to be a part of the Fusaka network upgrade, which Ethereum core developer Tim Beiko later ruled out. “EOF was removed from the Fusaka network upgrade today,” Beiko said in an April 28 X post, outlining in a GitHub post that Ethereum developers decided there was technical uncertainty about its impact and risked delaying the Fusaka rollout. Source: Tomasz Kajetan Stańczak The EVM is the software that runs Ethereum smart contracts. EOF would implement a series of protocol changes, known as Ethereum improvement proposals (EIPs), with profound implications for how it operates. EOF introduces an extensible and versioned container format for the smart contract bytecode that is verified once at deployment, separating code and data for efficiency gains. Related: Researcher proposes scaling Ethereum gas limit by 100x over 4 years Wrap, stamp once, send Bytecode is a low-level, compact set of instructions. Solidity smart contracts must be compiled into bytecode before the EVM can execute them. EOF defines a container module for smart contract bytecode, replacing today’s free-form bytecode blobs with a better-defined structure. These objects would be composed of: A header starting with the 0xEF00 hexadecimal value, followed by a one-byte version number to ensure upgradability. A section table, providing metadata about the contents of the container. Each entry comprises one byte setting for the kind of entry and two bytes for the entry’s size. Sections with the actual content, with at least one code section and any necessary data sections — more types of sections could be added through future EIPs. This structure streamlines EVM operation, allowing for higher efficiency and lower processing overhead. This upgrade would result in a cleaner developer environment and easier-to-understand deployed smart contracts. Don’t JUMP, RJUMP instead! EIP-4200, one of the EOF EIPs, provides an alternative to the JUMP and JUMPI instructions, which allow the program to move execution to any arbitrary byte offset. This kind of execution chain leads to hard-to-spot bugs (the JUMP value being wrong in some instances may not be easy to predict) and makes it easy to hide malware in data blobs and move the execution pointer there. This practice is known as dynamic jump, and EIP-4750 (under review) proposes disallowing dynamic JUMP/JUMPI inside EOF smart contracts, rejecting them entirely during a later phase of EOF deployment. In its current form, this EIP replaces them with call function (CALLF) and return from function (RETF) function calls. Those new instructions would ensure that destinations are hardcoded into the bytecode, but legacy pre-EOF smart contracts would be unaffected. Developers who opt to use JUMP or JUMPI after the upgrade will have their bytecode go through deploy-time validation, which ensures that they can never jump into data or the middle of another instruction. This verification would take place via EIP-3670’s code-validation rules, plus the jump table (EIP-3690), so every destination is checked. As an alternative to those functions, EOF implements RJUMP and RJUMPI instead, which require the destination to be hardcoded in the bytecode. Still, not everyone is on board with EOF implementation. Related: Ethereum community members propose new fee structure for the app layer EOF has its haters EOF is the implementation of 12 EIPs with profound implications for how smart contract developers work. Its supporters argue that it is efficient, more elegant, and allows for easier upgrades down the line. Still, its detractors argue that it is over-engineered and introduces further complexity into an already complex system such as Ethereum. Ethereum developer Pascal Caversaccio lamented in a March 13 Ethereum Magicians post that “EOF is extremely complex,” as it adds two new semantics and removes and adds over a dozen opcodes. Also, he argued that it is not necessary. He said all the benefits could be introduced in “more piecemeal, less invasive updates.” He added that the legacy EVM would also need to be maintained, “probably indefinitely.” Caversaccio also explained that EOF would require a tooling upgrade, which risks introducing new vulnerabilities due to its large attack surface. Also, he said, “EVM contracts get much more complicated due to headers,” while currently empty contracts weigh just 15 bytes. Another developer raised a separate point in the thread: “Perhaps as a meta point, there seems to be disagreement about whether major EVM changes are desirable in general. A stable VM, on which people can invest in building up excellent tooling and apps with confidence, is much more valuable.“ Caversaccio appears to be in good company in his opposition to EOF. A dedicated poll on the Ethereum polling platform ETHPulse shows that 39 voters holding a total of nearly 17,745 Ether (ETH) are opposed to the upgrade. Only seven holders of under 300 ETH voted in favor. Ethereum EOF implementation approval pool. Source: ETHPulse Magazine: Ethereum is destroying the competition in the $16.1T TradFi tokenization race

Coinbase, the world’s third-largest cryptocurrency exchange by volume, is launching the Coinbase Bitcoin Yield Fund on May 1, aiming to offer Bitcoin (BTC) exposure for institutional investors outside the US. The fund targets an annual net return of 4% to 8% on Bitcoin holdings, according to an April 28 blog post by Coinbase. “To address the growing institutional demand for bitcoin yield, Coinbase Asset Management is excited to introduce the Coinbase Bitcoin Yield Fund (CBYF),” the company wrote. The fund is backed by multiple investors, including Aspen Digital, a digital asset manager based in Abu Dhabi and regulated by the Financial Services Regulatory Authority. Coinbase introduces a Bitcoin yield-bearing fund. Source: Coinbase Related: Michael Saylor hints at Bitcoin purchase as whales stack aggressively The yield will be generated through a cash-and-carry strategy, through the difference between spot Bitcoin prices and derivatives. Unlike Ether (ETH) and Solana (SOL), Bitcoin holders can’t generate passive income through staking — a gap the fund is aiming to fill, according to the announcement: “Bitcoin yield funds have emerged to address this limitation, but these funds generally require institutional allocators to take on significant investment and operational risk.” The new fund seeks to lower the investment and operational risks typically associated with Bitcoin yield products, which Coinbase says will better align with the risk appetite of institutional investors. Related: Stacks Asia expands Bitcoin initiatives with Abu Dhabi partnership Bitcoin momentum mainly driven by institutional interest Coinbase cited growing institutional crypto adoption as the reason behind the launch of the funds, which may have been the reason behind Bitcoin’s significant price recovery over the past week. Bitcoin rose by more than 9% in the week leading up to April 28, bolstered by exchange-traded fund (ETF) inflows, which recorded their second-highest week of inflows at over $3 billion, Farside Investors data shows. Bitcoin ETF Flow, USD, million. Source: Farside Investors Bitcoin’s recovery to $94,000 was mainly supported by growing “ETF inflows and corporate buying,” amid lagging retail interest, Ryan Lee, chief analyst at Bitget Research, told Cointelegraph, adding: “Retail interest may surge if Bitcoin breaks $100,000, fueled by media hype and FOMO. Monitor the $94,000–$95,000 resistance for potential retail re-engagement.” On April 21, BitMEX co-founder Arthur Hayes predicted that this might be the “last chance” to buy Bitcoin below $100,000, as the incoming US Treasury buybacks may signal the next significant catalyst for Bitcoin price. Magazine: Bitcoin’s odds of June highs, SOL’s $485M outflows, and more: Hodler’s Digest, March 2 – 8

Wallet interoperability still remains the vision for Web3 gaming, according to Arthur Madrid, the co-founder and CEO of the decentralized metaverse and gaming platform The Sandbox.  In an exclusive interview with Cointelegraph at the Crypto Polo event in Dubai, Madrid and his fellow The Sandbox co-founder and chief operating officer, Sebastien Borget, told Cointelegraph that Web3 gaming interoperability remains the goal for The Sandbox. Madrid said:  “So, the vision is still kind of obvious for us. It’s like you need to be able to play any games using one wallet that will enable you to combine the utilities of all that you collected and all what you earned.” The Sandbox CEO said that one of the main narratives they’ve seen in the last couple of months is that players can move from one game to another using a single wallet. The executive told Cointelegraph that players accessing games with one wallet and using their items on different platforms remains an exciting topic for Web3 gaming enthusiasts.  The Sandbox co-founders at the Crypto Polo event in Dubai. Source: Cointelegraph Web3 gaming still “booming” as tools become accessible Madrid added that despite a market slowdown, the Web3 gaming space is still booming. The executive told Cointelegraph that the tools and infrastructure needed to create new games have become more accessible.  “I can feel that the tools you need to create games are becoming more accessible. If you look the number of games that have been created on gaming platforms over the last two years, it's still booming,” Madrid told Cointelegraph.  The executive also said that a new generation of programmers and programming tools is working on new types of gameplay. Madrid added that the space needs only one good game that could serve as the catalyst for the broader adoption of Web3 technology in gaming.  “The thing is, you always need this moment where one game is making a difference. You have this moment of rebirth,” Madrid said.  Related: Nike sued for $5 million over its shutdown of NFT platform RTFKT The Sandbox co-founder highlights a shift in NFT utility Borget told Cointelegraph that the non-fungible token (NFT) space is now seeing a shift in focus. The executive said that their team is seeing more maturity in the industry as it shifted from using NFTs to do fundraising and just profile pictures to better use cases.  Borget said this was driven by consumers demanding more use for their digital assets. The executive said that creators and developers must focus on adding more value to their NFTs to keep up with this demand.  “At The Sandbox, we still continue to see more demand for our virtual land, avatars and other NFT collections, such as Jurassic World, because they can be used across the game right away,” Borget said. Magazine: Ethereum is destroying the competition in the $16.1T TradFi tokenization race

The Stacks Asia DLT Foundation has become the first Bitcoin-based organization to establish an official presence in the Middle East, aiming to promote institutional Bitcoin adoption through expanded educational initiatives. Stacks Asia has partnered with the Abu Dhabi Global Market (ADGM) — one of the world’s fastest-growing financial centers — in a move that could boost the adoption of its Bitcoin (BTC) layer-2 (L2) solution in the Middle East and Asia. The new partnership will play a “pivotal role” in shaping the future of Bitcoin’s “programmability and adoption” in these regions through educational programs and support for Bitcoin builders, according to an April 28 announcement shared with Cointelegraph. Through the collaboration, Stacks and the ADGM aim to make it easier for institutions and investors to participate in the growing Bitcoin economy and help set “new standards for regulatory clarity and technical growth” for the rising global Bitcoin capital, according to Kyle Ellicott, executive director at Stacks Asia DLT Foundation. Stacks Asia DLT partners with ADGM. Source: Stacks Asia DLT Foundation Related: Crypto options desk QCP Capital wins Abu Dhabi license: Report “Stacks and ADGM are a powerful combination for accelerating Bitcoin adoption across the Middle East and Asia,” Ellicott told Cointelegraph, adding: “ADGM has established itself as a world-class global financial hub at the heart of the United Arab Emirates, known as the ‘Capitol of Capital,’ where capital and innovation are brought together to shape the future financial landscape.” “We’ll be working to enable the launch of educational programs, regional developer communities, and create opportunities for the real-world adoption of Bitcoin-powered applications,” he said. Starting in May, the foundation will host a series of live and virtual events to “empower institutions” with the knowledge to integrate Bitcoin into their operations and learn about the “opportunity of productive Bitcoin capital,” Ellicott added. Related: Nomura crypto arm Laser Digital bags Abu Dhabi license Stacks Foundation pushing for a “progressive” regulatory environment worldwide As the leading Bitcoin scalability solution, Stacks is also pushing for progressive global regulations that will cement Bitcoin’s role in the future of the financial landscape. “We’re not just focused locally — our team is engaged in global conversations, advocating for frameworks that balance decentralization, security, innovation, and compliance surrounding the unlocking of Bitcoin capital,” Ellicott said. A key part of the strategy involves knowledge sharing with local regulatory bodies to build understanding among government officials about Bitcoin’s characteristics and potential economic impact. The foundation is also developing the Bitcoin Capital Activation Framework, described as a comprehensive policy blueprint to help regulators enable Bitcoin utility in their jurisdictions. The Stacks Foundation will also launch the Bitcoin Policy Bridge in May, a working group uniting regulators from all key jurisdictions across the Middle East and Asia. In February, ADGM signed a memorandum of understanding with the Solana Foundation to advance the development of distributed ledger technology. Magazine: Altcoin season to hit in Q2? Mantra’s plan to win trust: Hodler’s Digest, April 13 – 19

Onchain sleuth ZachXBT has flagged a suspicious transfer involving 3,520 Bitcoin (BTC), valued at $330.7 million, that may indicate a major theft. The transaction, reported on April 28, saw funds moved from a potential victim’s wallet to the address bc1qcry...vz55g. Following the transfer, the stolen stash was quickly laundered through over six instant exchanges and swapped into privacy-focused cryptocurrency Monero (XMR). The large-scale conversion led to a 50% spike in XMR’s price with the token reaching an intraday high of $339, according to data from CoinMarketCap. Source: ZachXBT At the time of writing, XMR has settled slightly but remains up 25% in the past 24 hours, trading at $289. When asked whether North Korea’s Lazarus Group was behind the attack, ZachXBT dismissed the theory, stating it was “highly probable it’s not,” suggesting independent hackers were responsible. Related: Kraken to end Monero support in European Economic Area Vast majority of hackers use mainstream cryptos In a recent comment to Cointelegraph, Chainalysis noted that most criminal transactions still rely on mainstream cryptocurrencies. “While there are concerns of more criminals moving to privacy coins for anonymity, the vast majority of criminal activity still uses mainstream cryptocurrencies, such as Bitcoin, Ethereum and stablecoins,” Chainalysis said. The firm added that these assets remain attractive because they offer the same benefits to bad actors as they do to legitimate users — cross-border functionality, instant settlement, and high liquidity. Chainalysis noted that privacy coins pose limitations for criminals due to reduced liquidity and the fact that many major exchanges have delisted assets like Monero. “Cryptocurrency is only useful if you can buy and sell goods and services or cash out into fiat, and that is much more difficult with privacy coins, especially as many mainstream exchanges have offboarded the use of privacy coins, such as Monero,” they explained. The firm even said that blockchain transparency allows law enforcement to trace and recover illicit funds, regardless of the cryptocurrency used. In 2024, a leaked Chainalysis video suggested that Monero transactions could be traceable despite the privacy-preserving nature of the blockchain. The video reportedly showed how Chainalysis could track transactions back to 2021 via its own “malicious” Monero nodes. Related: The IRS offers a $625,000 bounty to anyone who can break Monero and Lightning Network Monero accepted at Spar stores in Switzerland The suspected laundering operation comes as Monero is gaining wider retail acceptance. Two Spar supermarket locations in Switzerland recently began accepting XMR for payments. The announcement, shared by Monero’s official X account, credits partnerships with DFX Swiss and OpenCryptoPay for enabling the integration. One user, posting on April 25, shared their experience of purchasing organic cacao using XMR at a Spar store in Kreuzlingen. User paying for goods with Monero. Souce: Schmidt In April 2025, Spar first tapped into the crypto market by introducing Bitcoin payments through the Lightning Network at outlets in Zug, Switzerland. Magazine: Bitcoin $100K hopes on ice, SBF’s mysterious prison move: Hodler’s Digest, April 20 – 26

If you’re following developments in the cryptocurrency market, you’ve likely noticed that Coinbase Derivatives has introduced XRP futures contracts to its US derivatives exchange. This move is part of a broader trend where regulated platforms are expanding access to futures trading, giving investors new ways to engage with digital assets like XRP (XRP). But what exactly are XRP futures? And how do you get involved as an investor or trader? Let’s take a closer look. What are XRP futures? XRP futures are standardized financial contracts that allow you to agree to buy or sell XRP at a predetermined price on a specific future date. Rather than trading the actual token, you’re trading a contract that tracks the price of XRP. These contracts are overseen by the US Commodity Futures Trading Commission (CFTC), meaning they operate within a regulated framework. That adds a level of oversight and structure that appeals to many investors, particularly those wary of the risks tied to unregulated platforms. On April 3, 2025, Coinbase Derivatives announced it had filed with the CFTC to self-certify XRP futures contracts, and the contracts were launched on April 21, 2025. Types of XRP futures contracts offered by Coinbase Coinbase’s offering includes: Nano XRP futures represent 500 XRP per contract, cash-settled in US dollars. These are designed for retail traders and smaller institutions, offering lower capital requirements while still providing exposure to XRP price movements. Standard XRP futures cover 10,000 XRP per contract, are also settled in USD, and are aimed at larger institutions and active traders. This variety lets you choose a position size that matches your risk tolerance and investment strategy.  But what do terms like “cash-settled” actually mean? Both Nano and Standard XRP futures are contracts that let you trade based on the price of XRP — but you don’t actually own or receive XRP. You’re trading contracts that track XRP’s price. And, when the contract closes, the difference between your entry and exit price is calculated (profit or loss) and settled in USD — this is what cash settlement means.  Did you know? Other products offered by the Coinbase Derivatives exchange include more than 20 futures contracts on assets such as Bitcoin (BTC), Ether (ETH), Dogecoin (DOGE), Solana (SOL), Chainlink (LINK) and Stellar (XLM). Why choose XRP futures contracts over buying XRP? You might be wondering why someone would choose futures over simply buying XRP on the spot market. Here are a few reasons: Leverage: Futures often allow you to control a large position with a relatively small amount of capital. While this can amplify gains, it also increases potential losses. Hedging: If you already hold XRP and expect short-term volatility, futures can be used to protect your portfolio. Speculation: Futures allow you to take both long (bullish) and short (bearish) positions, so you can potentially benefit from market moves in either direction. No wallet or storage needs: Buying XRP requires a secure wallet and managing private keys, which carries risks like hacking or loss. Futures contracts are financial instruments traded on exchanges, eliminating the need for direct XRP custody. Liquidity and accessibility: Futures markets often have high liquidity, making it easier to enter and exit positions. Some exchanges offer XRP futures with lower barriers than buying XRP on certain crypto platforms, especially in regions with regulatory restrictions. Cash settlement: Many XRP futures are cash-settled, meaning you settle profits or losses in fiat or stablecoins without handling XRP itself, simplifying the process for traders avoiding crypto custody. When to choose futures contracts: You want to trade XRP price movements with leverage or flexibility to go long or short. You prefer not to deal with crypto wallets or custody. You’re hedging an existing XRP position or portfolio. You’re comfortable with the risks and complexities of derivatives. When to buy XRP: You believe in XRP’s long-term value and want to hold it as an investment. You plan to use XRP for transactions or in its ecosystem (e.g., Ripple’s payment network). You want to avoid the risks of leverage and futures margin calls. Ultimately, futures suit active traders or those seeking leveraged exposure, while buying XRP could be ideal for long-term holders or users of the asset. You must always assess your risk tolerance and goals before deciding whether to invest in XRP or XRP futures. Did you know? The MarketVector™ Coinbase XRP Benchmark Rate provides a robust USD price reference exclusively for XRP traded on the Coinbase Exchange. It includes no other assets and no other exchanges — just XRP, just Coinbase. Where to invest in XRP futures If you’re looking to invest in XRP futures, there are several platforms (other than Coinbase) offering access depending on your location and trading needs. Kraken Futures: Kraken provides XRP futures with leverage. In Australia, access is limited to wholesale clients through Beaufort Fiduciaries Pty Ltd (AFSL no. 545124). In the United Kingdom, only clients classified as Professional Clients under Financial Conduct Authority rules can trade through Crypto Facilities Limited (FRN: 757895). Binance: Binance offers XRP/USDT perpetual futures contracts, allowing users to trade XRP without an expiry date. These contracts support leverage, giving traders flexibility in managing exposure. However, as of May 28, 2024, Binance no longer supports XRP as a margin asset under its “Multi-Assets Mode,” though XRP futures remain available in other trading modes. OKX: OKX also provides XRP/USDT perpetual swaps, which let traders speculate on XRP price movements continuously. While OKX delisted XRP expiry futures contracts in December 2024, perpetual swaps are still supported. Traders can apply leverage and adjust positions based on their risk strategy. Bitget: It is a globally accessible platform that offers XRP futures with options to take long or short positions. It features a user-friendly interface, making it suitable for both new and experienced traders, though availability depends on regional regulations. KuCoin Futures: KuCoin supports XRP perpetual contracts (XRP/USDT) with leverage. The platform is known for low trading fees and offers various features for different trading strategies. It’s accessible in many countries, with some regional restrictions. MEXC: It provides XRP futures in both USDt-margined and coin-margined formats. MEXC supports high leverage and offers educational tools, catering to traders of all levels. The platform is available in most regions, though users should check for local compliance. Delta Exchange: It lists XRP perpetual futures with leverage up to 100x. It’s known for low fees and advanced risk management tools. The platform is available to traders in several countries, depending on local laws. Bitfinex: Lastly, Bitfinex offers XRP futures as part of its broader derivatives portfolio. Its platform caters to advanced users with customizable strategies. Access is region-dependent, and traders must ensure eligibility based on their location. Did you know? Coinbase crypto derivatives are not available to retail clients based in the United Kingdom or Spain due to local regulatory restrictions.  How to invest in XRP futures  If you’re interested in trading XRP futures, here are general steps to get started: Choose a platform: Select a regulated exchange offering XRP futures, such as Coinbase’s US Derivatives Exchange. Create an account and complete identity verification, which typically involves submitting a valid ID and proof of address. Understand the product: Research how XRP futures contracts work, including contract sizes (e.g., Coinbase offers standard contracts of 10,000 XRP or nano contracts of 500 XRP), margin requirements, leverage options and fees. Futures are complex, so review the exchange’s documentation and understand risks, such as liquidation. Fund your account: Deposit USD or another accepted currency to use as collateral (margin) for trading. Check the platform’s minimum deposit and margin requirements. For example, Coinbase settles futures in USD, and you can fund via bank transfer or debit card. Place your trade: Use the platform’s trading interface (e.g., Coinbase Advanced) to select XRP futures contracts (symbol: XRL for standard XRP contracts on Coinbase). Decide whether to go long (buy) or short (sell), set your position size, and apply any leverage if available. Confirm the trade after reviewing details. Practice risk management: Futures carry high risks due to leverage and volatility. Set stop-loss orders, limit position sizes based on your risk tolerance, and avoid risking more than you can afford to lose. For instance, some exchanges pause trading if the underlying asset’s price moves over 10% in an hour to mitigate volatility risks. Monitor the market: Track XRP’s price, market sentiment, funding rates and external factors like regulatory news or macroeconomic trends. Use tools like candlestick charts or technical indicators on the platform to inform your strategy. Stay updated to adjust positions and avoid unexpected losses. Oregon targets Coinbase over XRP, cites securities violations Oregon’s Attorney General has sued Coinbase, claiming the exchange offered unregistered securities, including XRP. The lawsuit argues that a wide range of digital assets traded on the platform qualify as investment contracts under state law. State officials say the case is part of a broader effort to step in where federal enforcement has pulled back. Legal experts note that while the outcome won’t set a national precedent, it could influence how regulators and courts approach similar cases. The timing is notable — just weeks after the SEC dropped its case against Ripple and days after Coinbase listed XRP futures on its US derivatives exchange. Did you know? On March 25, 2025, Ripple Labs settled its long-standing legal dispute with the SEC. As part of the agreement, Ripple consented to pay a reduced fine of $50 million — down from the original $125 million — without admitting any wrongdoing. CME’s XRP futures launch: A new era for institutional crypto trading? CME Group, the world’s leading derivatives marketplace, is set to launch XRP futures on May 19, 2025, pending regulatory approval. This move marks a significant milestone for Ripple’s native token, as it opens the door for institutional investors to gain regulated exposure to XRP for the first time through a trusted exchange. The futures contracts will come in two sizes: 2,500 XRP (micro)  50,000 XRP (standard) These contracts will be cash-settled, using the CME CF XRP-Dollar Reference Rate, calculated daily at 4:00 p.m. London time. Such contracts are designed to provide traders and institutions with a capital-efficient way to hedge or speculate on XRP’s price movements. This launch follows CME’s expanding suite of crypto derivatives, which already includes Bitcoin, Ethereum, and Solana futures. With over 80 million XRP users globally and growing interest in Ripple’s technology, the addition of XRP futures positions CME as a key player in the evolving digital asset landscape. How risky are crypto futures? Futures trading offers opportunities, but it comes with significant risks — especially if you’re new to derivatives. Here’s what you should keep in mind: Leverage risk: While leverage can increase your returns, it also amplifies losses. A small price move in the wrong direction can quickly deplete your account. Volatility: XRP is known for its sharp price swings. Futures contracts can exaggerate the impact of volatility on your position. Funding rates: Perpetual futures contracts charge periodic funding fees, which can eat into profits if held long-term. Liquidation: If the market moves against you and your margin falls below the required level, your position may be automatically closed — often at a loss. Complexity: Futures are more complicated than spot trading. Understanding contract terms, funding rates and expiry dates is crucial to managing your trades effectively. Market liquidity: While XRP is a liquid asset, futures trading depends on active participation. Thin order books can lead to slippage and unexpected price movements. Emotional pressure: The fast-paced nature of futures trading can lead to impulsive decisions. Discipline and a clear strategy are essential. If you’re new to this type of trading, consider starting with a demo account or using nano contracts to reduce your exposure while you learn. Trade smart — your safety’s on you! 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. If you’re following developments in the cryptocurrency market, you’ve likely noticed that Coinbase Derivatives has introduced XRP futures contracts to its US derivatives exchange. This move is part of a broader trend where regulated platforms are expanding access to futures trading, giving investors new ways to engage with digital assets like XRP (XRP). But what exactly are XRP futures? And how do you get involved as an investor or trader? Let’s take a closer look. What are XRP futures? XRP futures are standardized financial contracts that allow you to agree to buy or sell XRP at a predetermined price on a specific future date. Rather than trading the actual token, you’re trading a contract that tracks the price of XRP. These contracts are overseen by the US Commodity Futures Trading Commission (CFTC), meaning they operate within a regulated framework. That adds a level of oversight and structure that appeals to many investors, particularly those wary of the risks tied to unregulated platforms. On April 3, 2025, Coinbase Derivatives announced it had filed with the CFTC to self-certify XRP futures contracts, and the contracts were launched on April 21, 2025. Types of XRP futures contracts offered by Coinbase Coinbase’s offering includes: Nano XRP futures represent 500 XRP per contract, cash-settled in US dollars. These are designed for retail traders and smaller institutions, offering lower capital requirements while still providing exposure to XRP price movements. Standard XRP futures cover 10,000 XRP per contract, are also settled in USD, and are aimed at larger institutions and active traders. This variety lets you choose a position size that matches your risk tolerance and investment strategy.  But what do terms like “cash-settled” actually mean? Both Nano and Standard XRP futures are contracts that let you trade based on the price of XRP — but you don’t actually own or receive XRP. You’re trading contracts that track XRP’s price. And, when the contract closes, the difference between your entry and exit price is calculated (profit or loss) and settled in USD — this is what cash settlement means.  Did you know? Other products offered by the Coinbase Derivatives exchange include more than 20 futures contracts on assets such as Bitcoin (BTC), Ether (ETH), Dogecoin (DOGE), Solana (SOL), Chainlink (LINK) and Stellar (XLM). Why choose XRP futures contracts over buying XRP? You might be wondering why someone would choose futures over simply buying XRP on the spot market. Here are a few reasons: Leverage: Futures often allow you to control a large position with a relatively small amount of capital. While this can amplify gains, it also increases potential losses. Hedging: If you already hold XRP and expect short-term volatility, futures can be used to protect your portfolio. Speculation: Futures allow you to take both long (bullish) and short (bearish) positions, so you can potentially benefit from market moves in either direction. No wallet or storage needs: Buying XRP requires a secure wallet and managing private keys, which carries risks like hacking or loss. Futures contracts are financial instruments traded on exchanges, eliminating the need for direct XRP custody. Liquidity and accessibility: Futures markets often have high liquidity, making it easier to enter and exit positions. Some exchanges offer XRP futures with lower barriers than buying XRP on certain crypto platforms, especially in regions with regulatory restrictions. Cash settlement: Many XRP futures are cash-settled, meaning you settle profits or losses in fiat or stablecoins without handling XRP itself, simplifying the process for traders avoiding crypto custody. When to choose futures contracts: You want to trade XRP price movements with leverage or flexibility to go long or short. You prefer not to deal with crypto wallets or custody. You’re hedging an existing XRP position or portfolio. You’re comfortable with the risks and complexities of derivatives. When to buy XRP: You believe in XRP’s long-term value and want to hold it as an investment. You plan to use XRP for transactions or in its ecosystem (e.g., Ripple’s payment network). You want to avoid the risks of leverage and futures margin calls. Ultimately, futures suit active traders or those seeking leveraged exposure, while buying XRP could be ideal for long-term holders or users of the asset. You must always assess your risk tolerance and goals before deciding whether to invest in XRP or XRP futures. Did you know? The MarketVector™ Coinbase XRP Benchmark Rate provides a robust USD price reference exclusively for XRP traded on the Coinbase Exchange. It includes no other assets and no other exchanges — just XRP, just Coinbase. Where to invest in XRP futures If you’re looking to invest in XRP futures, there are several platforms (other than Coinbase) offering access depending on your location and trading needs. Kraken Futures: Kraken provides XRP futures with leverage. In Australia, access is limited to wholesale clients through Beaufort Fiduciaries Pty Ltd (AFSL no. 545124). In the United Kingdom, only clients classified as Professional Clients under Financial Conduct Authority rules can trade through Crypto Facilities Limited (FRN: 757895). Binance: Binance offers XRP/USDT perpetual futures contracts, allowing users to trade XRP without an expiry date. These contracts support leverage, giving traders flexibility in managing exposure. However, as of May 28, 2024, Binance no longer supports XRP as a margin asset under its “Multi-Assets Mode,” though XRP futures remain available in other trading modes. OKX: OKX also provides XRP/USDT perpetual swaps, which let traders speculate on XRP price movements continuously. While OKX delisted XRP expiry futures contracts in December 2024, perpetual swaps are still supported. Traders can apply leverage and adjust positions based on their risk strategy. Bitget: It is a globally accessible platform that offers XRP futures with options to take long or short positions. It features a user-friendly interface, making it suitable for both new and experienced traders, though availability depends on regional regulations. KuCoin Futures: KuCoin supports XRP perpetual contracts (XRP/USDT) with leverage. The platform is known for low trading fees and offers various features for different trading strategies. It’s accessible in many countries, with some regional restrictions. MEXC: It provides XRP futures in both USDt-margined and coin-margined formats. MEXC supports high leverage and offers educational tools, catering to traders of all levels. The platform is available in most regions, though users should check for local compliance. Delta Exchange: It lists XRP perpetual futures with leverage up to 100x. It’s known for low fees and advanced risk management tools. The platform is available to traders in several countries, depending on local laws. Bitfinex: Lastly, Bitfinex offers XRP futures as part of its broader derivatives portfolio. Its platform caters to advanced users with customizable strategies. Access is region-dependent, and traders must ensure eligibility based on their location. Did you know? Coinbase crypto derivatives are not available to retail clients based in the United Kingdom or Spain due to local regulatory restrictions.  How to invest in XRP futures  If you’re interested in trading XRP futures, here are general steps to get started: Choose a platform: Select a regulated exchange offering XRP futures, such as Coinbase’s US Derivatives Exchange. Create an account and complete identity verification, which typically involves submitting a valid ID and proof of address. Understand the product: Research how XRP futures contracts work, including contract sizes (e.g., Coinbase offers standard contracts of 10,000 XRP or nano contracts of 500 XRP), margin requirements, leverage options and fees. Futures are complex, so review the exchange’s documentation and understand risks, such as liquidation. Fund your account: Deposit USD or another accepted currency to use as collateral (margin) for trading. Check the platform’s minimum deposit and margin requirements. For example, Coinbase settles futures in USD, and you can fund via bank transfer or debit card. Place your trade: Use the platform’s trading interface (e.g., Coinbase Advanced) to select XRP futures contracts (symbol: XRL for standard XRP contracts on Coinbase). Decide whether to go long (buy) or short (sell), set your position size, and apply any leverage if available. Confirm the trade after reviewing details. Practice risk management: Futures carry high risks due to leverage and volatility. Set stop-loss orders, limit position sizes based on your risk tolerance, and avoid risking more than you can afford to lose. For instance, some exchanges pause trading if the underlying asset’s price moves over 10% in an hour to mitigate volatility risks. Monitor the market: Track XRP’s price, market sentiment, funding rates and external factors like regulatory news or macroeconomic trends. Use tools like candlestick charts or technical indicators on the platform to inform your strategy. Stay updated to adjust positions and avoid unexpected losses. Oregon targets Coinbase over XRP, cites securities violations Oregon’s Attorney General has sued Coinbase, claiming the exchange offered unregistered securities, including XRP. The lawsuit argues that a wide range of digital assets traded on the platform qualify as investment contracts under state law. State officials say the case is part of a broader effort to step in where federal enforcement has pulled back. Legal experts note that while the outcome won’t set a national precedent, it could influence how regulators and courts approach similar cases. The timing is notable — just weeks after the SEC dropped its case against Ripple and days after Coinbase listed XRP futures on its US derivatives exchange. Did you know? On March 25, 2025, Ripple Labs settled its long-standing legal dispute with the SEC. As part of the agreement, Ripple consented to pay a reduced fine of $50 million — down from the original $125 million — without admitting any wrongdoing. CME’s XRP futures launch: A new era for institutional crypto trading? CME Group, the world’s leading derivatives marketplace, is set to launch XRP futures on May 19, 2025, pending regulatory approval. This move marks a significant milestone for Ripple’s native token, as it opens the door for institutional investors to gain regulated exposure to XRP for the first time through a trusted exchange. The futures contracts will come in two sizes: 2,500 XRP (micro)  50,000 XRP (standard) These contracts will be cash-settled, using the CME CF XRP-Dollar Reference Rate, calculated daily at 4:00 p.m. London time. Such contracts are designed to provide traders and institutions with a capital-efficient way to hedge or speculate on XRP’s price movements. This launch follows CME’s expanding suite of crypto derivatives, which already includes Bitcoin, Ethereum, and Solana futures. With over 80 million XRP users globally and growing interest in Ripple’s technology, the addition of XRP futures positions CME as a key player in the evolving digital asset landscape. How risky are crypto futures? Futures trading offers opportunities, but it comes with significant risks — especially if you’re new to derivatives. Here’s what you should keep in mind: Leverage risk: While leverage can increase your returns, it also amplifies losses. A small price move in the wrong direction can quickly deplete your account. Volatility: XRP is known for its sharp price swings. Futures contracts can exaggerate the impact of volatility on your position. Funding rates: Perpetual futures contracts charge periodic funding fees, which can eat into profits if held long-term. Liquidation: If the market moves against you and your margin falls below the required level, your position may be automatically closed — often at a loss. Complexity: Futures are more complicated than spot trading. Understanding contract terms, funding rates and expiry dates is crucial to managing your trades effectively. Market liquidity: While XRP is a liquid asset, futures trading depends on active participation. Thin order books can lead to slippage and unexpected price movements. Emotional pressure: The fast-paced nature of futures trading can lead to impulsive decisions. Discipline and a clear strategy are essential. If you’re new to this type of trading, consider starting with a demo account or using nano contracts to reduce your exposure while you learn. Trade smart — your safety’s on you! 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.

Opinion by: Ross Shemeliak, co-founder and chief operating officer of Stobox The Trump administration is pushing a much-revived policy trajectory, marked by tariffs and sanctions that aim to reshore production. Despite exemptions favorable to technology, this dramatic turnaround may seem like a case of the White House treating global trade as its playground. The president’s tariff agenda is fracturing supply chains overnight and disregarding long-standing economic rules. This latent, chaotic agenda also sees the quiet emergence of a new infrastructure in which blockchain is taking on a fresh role. Insofar as it is not purely focused on decentralization, the technology is geopolitically resilient. With global businesses, especially small and medium enterprises, increasingly pushed toward blockchain, we are witnessing a global economic map redrawing into one centered on Real-World Assets tokenization and stablecoins. Secondary markets for tokenized trade assets There are few winners in a trade war. Sanctions and restrictions disrupt international economic rules, and liquidity is one of the first victims. Companies struggle to finance their operations, while risk management models force banks to step back. With the fragmented economic order, a new era in which secondary markets for tokenized trade assets are prevalent is being ushered in.  These tokenized real-world assets — receivables, commodities or shopping slots, for example — can be fractionalized and sold in global permissioned marketplaces. The resulting access to capital outside of sanctioned corridors grants companies liquidity. As sanctions reduce liquidity, tokenization creates it. Within the economic disruption from the US, there is a moment of opportunity for tokenization. Onchain provenance Another implication of sanctions relates to the existential significance of transparency and traceability. Traceability means companies importing goods must prove their origin and routing or risk secondary sanctions. Tokenization may be in a position to benefit. Recent: US exchanges bet big on crypto derivatives amid tariff turbulence This owes itself to tokenized assets having immutable metadata — certificates of origin, shipping routes, customs approvals. The result is real-time, tamper-proof compliance, which far outstrips outdated spreadsheets and siloed databases. Manufacturers can directly onchain verify that every component used — down to the source of its raw materials — fully complies with sanctions. The peril of sanctions extends yet further, as trust in banks is eroded. Exiting high-risk corridors, banks leave companies without neutral payment intermediaries. DeFi Infrastructure and tokenized Escrow represent meaningful options for rebuilding trust without banks. Tokenized Escrow via smart contracts enables milestone-based payments to be enforced by code, not banks. International deals can be conducted without traditional clearing systems while maintaining trust and accountability. When sanctions gnaw away at trust in banks, code can step in as the counterparty. Stablecoins are a new artery for sanction-neutral payments Stablecoins do more still. The technology no longer just enables DeFi; it facilitates parallel international trade. While this may seem like the remit of the theoretical, it is happening. As fiat rails fall under geopolitical pressure, companies from Latin America to Southeast Asia adopt stablecoin-based invoicing to keep commerce alive. While stablecoins began as something of a fintech novelty, the disruption of sanctions to SWIFT and frozen cross-border transfers means that stablecoins like USDC, USDT, and even EURC are emerging as financial lifelines. A shadow banking system has come into being for the sanctioned world. Faster, cheaper, borderless, this offers three serious advantages: Payments are processed 24/7, without banks or FX intermediaries. Counterparties can settle in neutral, dollar-pegged assets — outside traditional financial rails. Smart contracts and stablecoins enable programmable, conditional payments tied to compliance checkpoints. Neutral blockchain hubs The deepening fractures in geopolitics are leading to further opportunities for digital infrastructure. With supply chains increasingly politicized, the door is opening to greater use of tokenization by creating “compliance-first” trade hubs.  This is significant because the trade hubs can be located in neutral countries like Singapore, the UAE and Turkey. These hubs tokenize ports, warehouses and logistics routes. As a result, they embed compliance and origin data directly into the asset lifecycle. Companies seeking a trustworthy alternative in a fraught geopolitical environment can turn to neutral blockchain hubs.   Tokenized smart contracts Sanctions carry disadvantages for legacy contracts — these agreements are static, complex to amend, and dependent on intermediaries — and freeze when restrictions are hit. By contrast, the logic embedded in tokenized smart contracts offers more dynamic reactivity to regulatory shifts. Let’s briefly consider an example — a European supplier tokenizes its invoice and programs the contract to release payment only if goods clear non-restricted jurisdictions. This level of programmable compliance, enabled by the technology, reduces legal risk, operational lag and cross-border tension. Building infrastructure from uncertainty An unprecedented, challenging economic environment is emerging from US sanctions, which has painful implications for financial institutions and trade partners. As traditional infrastructure is broken, tokenization offers the possibility to build a new one. On the surface, tokenization and stablecoins are about efficiency and transparency. Realizing the full benefits requires us to look deeper — they are becoming foundational layers in a parallel global economy. This new order adapts faster than banks, negotiates better than lawyers, and operates beyond the reach of sanctions. Blockchain does far more than simply record trade. It enforces geopolitical logic at the asset level. With the next economic map being drawn onchain, tokenization's broad benefits are clear. Opinion by: Ross Shemeliak, co-founder and chief operating officer of Stobox. 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.

The team behind the Official Melania Meme (MELANIA) token sold more than $1.5 million of tokens over the past three days, suggesting a programmatic selling strategy that may add downside pressure to the token. The team behind the Melania memecoin sold another $930,000 worth of tokens on April 28, two days after selling $630,000, according to blockchain data. The selling patterns point to dollar-cost averaging (DCA), an investment strategy used to buy or sell a predetermined amount of an asset at fixed times, according to crypto intelligence platform Lookonchain. It flagged the activity in an April 28 post on X, writing: “The #Melania team didn’t just add or remove liquidity to sell $MELANIA, they also employed a DCA strategy for direct sales!” Source: Lookonchain Related: Libra, Melania creator’s ‘Wolf of Wall Street’ memecoin crashes 99% The DCA strategy involves investing a certain amount of funds in an asset at regular intervals, often employed by investors to manage emotional decision-making. MELANIA/USD, all-time chart. Source: CoinMarketCap Despite the team’s selling, MELANIA staged an over 21% recovery during the past seven days, but remains around 96% below its all-time high of $13.7 recorded on Jan. 20 — the date of US President Donald Trump’s inauguration — according to CoinMarketCap data. Meanwhile, some large investors are betting on the Official Trump (TRUMP) memecoin’s price decline. Source: Lookonchain A newly created whale wallet deposited $1.33 million worth of USDC (USDC) stablecoins to open a short position with 2x leverage at $14.7. The short would be liquidated if the Trump token’s price rises above $21.50, according to Lookonchain. Related: Bitcoin still on track for $1.8M in 2035, says analyst Memecoins were the second-biggest crypto sector in Q1 Memecoins were the second-most-dominant cryptocurrency investment narrative in the first quarter of 2025, reflecting that the market is still recycling old narratives. AI tokens, memecoins, were leading crypto narratives in Q1 2025: CoinGecko Memecoins captured around 27% of the global investor mindshare, while artificial intelligence tokens held over 35%, according to a quarterly research report by 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. Pump.fun usage metrics. Source: Binance research report However, the launch of the TRUMP token and its disappointing performance may have marked the end of the memecoin supercycle, which saw the weekly usage activity on memecoin launchpad Pump.fun stage a significant decline — from 2.85 million active wallets on the week of Jan. 20, to just 1.44 million as of March 31. Magazine: Caitlyn Jenner memecoin ‘mastermind’s’ celebrity price list leaked

Coinbase has urged the US Office of Government Ethics to remove a rule banning Securities and Exchange Commission staff from holding crypto. SEC staff need to use crypto to better understand how it works and the best way to regulate it, Coinbase chief legal officer Paul Grewal argued in open letters sent to OGE acting director Jamieson Greer and newly sworn-in SEC Chair Paul Atkins, which he shared to X on April 25. “To regulate technology, you need to understand it. To understand technology, you need to use it,” Grewal said in the letter to Greer. “Permitting commission staff to hold crypto is essential to them developing the knowledge necessary to propose and adopt workable regulatory frameworks for digital securities activity,” he added. Source: Paul Grewal Legal Advisory 22-04, issued on July 4, 2022, by the OGE, prohibits SEC staff from buying, selling, or otherwise using crypto and stablecoins because they are not “publicly traded securities” and don’t qualify for an exception, unlike stocks. SEC needs waivers for staff  Grewal said US President Donald Trump directed the SEC and other agencies to submit recommendations for crypto regulations due in around 90 days, and SEC “staff still cannot use the technology on which they are making recommendations.” In his letter to Atkins and SEC commissioner Hester Peirce, he echoed a similar sentiment, arguing that the inability to hold crypto is a roadblock for the agency’s Crypto Task Force in creating a regulatory framework. Source: Paul Grewal While it’s up to OGE to rescind the advisory, the SEC should take its own action, Grewal said.  “For example, issuing waivers to crypto task force members and other staff actively working on task force matters would be consistent with measures already taken in commensurate advisory situations,” he said. Related: Coinbase files FOIA to see how much the SEC’s ‘war on crypto’ cost Grewal added that a waiver would allow SEC staff on the Crypto Task Force responsible for creating crypto regulations to use crypto and “evaluate the underlying digital asset technology.” Former SEC Chair Gary Gensler, who took office in 2021, was known for his hardline stance on crypto regulation. He resigned on Jan. 20 after spearheading an aggressive regulatory stance toward crypto, bringing upward of 100 regulatory actions against firms.  Following Gensler’s exit, the SEC opted out of a swathe of lawsuits against crypto firms, including Coinbase, on Feb. 27 and, in a more recent April 24 walkback, flagged plans to drop its enforcement against blockchain firm Dragonchain.  Magazine: Bitcoin $100K hopes on ice, SBF’s mysterious prison move: Hodler’s Digest, April 20 – 26

Crypto exchange Bitget says it is issuing legal letters to account holders it accuses of manipulating the price of perpetual futures contracts linked to the VOXEL token. Eight account holders that the exchange accuses of being involved in the April 20 incident and who allegedly pocketed $20 million between them will receive a letter from the exchange’s lawyers in “quick succession,” Xie Jiayin, Bitget’s head of Chinese operations, said in an April 27 X post. “These eight accounts are the main instigators of the VOXEL incident and have improperly gained more than 20 million US dollars from it,” she said, according to a translation of the post. “Except for these eight accounts, all other users who participated in VOXEL trading on April 20 and have withdrawn funds do not need to worry,” she added. “The accounts have been restored to normal and no responsibility will be pursued in the future.” Source: Xie Jiayin On April 20, Bitget said it discovered “abnormal trading activity” on its VOXEL/USDT perpetual futures contract and paused accounts it suspected of market manipulation. The trading pair clocked over $12 billion in volume, dwarfing the metrics of the same contract on Binance. After the pause, Bitget rolled back the irregular trades to claw back the gains. At the time, Bitget CEO Gracy Chen told Cointelegraph that the trades were between individual market participants, not the platform itself, and insisted the losses were not platform-wide and user funds remained safe. Bitget still investigating cause of incident  Jiayin said Bitget plans to distribute 100% of the recovered funds to affected users through airdrops while a complete incident report is still in the works. Some X users claimed the incident was caused by a bug in a market maker bot, which caused VOXEL’s excessive volume. Traders who spotted the suspected bug early used high-leverage bets to boost their profits in a zero-cost exploit. Related: Bitget CEO slams Hyperliquid’s handling of ‘suspicious’ incident involving JELLY token VOXEL is the native utility token of Voxies, a free-to-play, 3D turn-based tactical RPG game built on the Ethereum blockchain. Decentralized exchange Hyperliquid suffered a similar incident on March 27, when a whale allegedly exploited the liquidation parameters to profit at least $6.26 million on the Jelly my Jelly (JELLY) memecoin. Hyperliquid has since delisted perpetual futures tied to the JELLY token, citing evidence of suspicious market activity as the reason for the decision.  Magazine: Memecoins are ded — But Solana ‘100x better’ despite revenue plunge

Opinion by: Hedi Navazan, chief compliance officer at 1inch Web3 needs a clear regulatory system that addresses innovation bottlenecks and user safety in decentralized finance (DeFi). A one-size-fits-all approach cannot be achieved to regulate DeFi. The industry needs custom, risk-based approaches that balance innovation, security and compliance. DeFi’s challenges and rules A common critique is that regulatory scrutiny leads to the death of innovation, tracing this situation back to the Biden administration. In 2022, uncertainty for crypto businesses increased following lawsuits against Coinbase, Binance and OpenSea for alleged violations of securities laws. Under the US administration, the Securities and Exchange Commission agreed to dismiss the lawsuit against Coinbase, as the agency reversed the crypto stance, hinting at a path toward regulation with clear boundaries. Many would argue that the same risk is the same rule. Imposing traditional finance requirements on DeFi simply will not work from many aspects but the most technical challenges. Openness, transparency, immutability, and automation are key parameters of DeFi. Without clear regulations, however, the prevalent issue of “Ponzi-like schemes” can divert focus from effective innovation use cases to conjuring a “deceptive perception” of blockchain technology.  Guidance and clarity from regulatory bodies can reduce significant risks for retail users. Policymakers should take time to understand DeFi’s architecture before introducing restrictive measures. DeFi needs risk-based regulatory models that understand its architecture and address illicit activity and consumer protection.  Self-regulatory frameworks cultivate transparency and security in DeFi The entire industry highly recommends implementing a self-regulatory framework that ensures continuous innovation while simultaneously ensuring consumer safety and financial transparency.  Take the example of DeFi platforms that have taken a self-regulatory approach by implementing robust security measures, including transaction monitoring, wallet screening and implementing a blacklist mechanism that restricts a wallet of suspicion with illicit activity.  Sound security measures would help DeFi projects monitor onchain activity and prevent system misuse. Self-regulation can help DeFi projects operate with greater legitimacy, yet it may not be the only solution. Clear structure and governance are key It’s no secret that institutional players are waiting for the regulatory green light. Adding to the list of regulatory frameworks, Markets in Crypto-Assets (MiCA) sets stepping stones for future DeFi regulations that can lead to institutional adoption of DeFi. It provides businesses with regulatory clarity and a framework to operate. Many crypto projects will struggle and die as a result of higher compliance costs associated with MiCA, which will enforce a more reliable ecosystem by requiring augmented transparency from issuers and quickly attract institutional capital for innovation. Clear regulations will lead to more investments in projects that support investor trust. Anonymity in crypto is quickly disappearing. Blockchain analytics tools, regulators and companies can monitor suspicious activity while preserving user privacy to some extent. Future adaptations of MiCA regulations can enable compliance-focused DeFi solutions, such as compliant liquidity pools and blockchain-based identity verification. Regulatory clarity can break barriers to DeFi integration The banks’ iron gate has been another significant barrier. Compliance officers frequently witness banks erect walls to keep crypto out. Bank supervisors distance companies that are out of compliance, even if it’s indirect scrutiny or fines, slamming doors on crypto projects’ financial operations. Clear regulations will address this issue and make compliance a facilitator, not a barrier, for DeFi and banking integration. In the future, traditional banks will integrate DeFi. Institutions will not replace banks but will merge DeFi’s efficiencies with TradFi’s structure. Recent: Hester Peirce calls for SEC rulemaking to ‘bake in’ crypto regulation The repeal of Staff Accounting Bulletin (SAB) 121 in January 2025 mitigated accounting burdens for banks to recognize crypto assets held for customers as both assets and liabilities on their balance sheets. The previous laws created hurdles of increased capital reserve requirements and other regulatory challenges. SAB 122 aims to provide structured solutions from reactive compliance to proactive financial integration — a step toward creating DeFi and banking synergy. Crypto companies must still follow accounting principles and disclosure requirements to protect crypto assets. Clear regulations can increase the frequency of banking use cases, such as custody, reserve backing, asset tokenization, stablecoin issuance and offering accounts to digital asset businesses. Building bridges between regulators and innovators in DeFi Experts pointing out concerns about DeFi’s over-regulation killing innovation can now address them using “regulatory sandboxes.” These dispense startups with a “secure zone” to test their products before committing to full-scale regulatory mandates. For example, startups in the United Kingdom under the Financial Conduct Authority are thriving using this “trial and error” method that has accelerated innovation. These have enabled businesses to test innovation and business models in a real-world setting under regulator supervision. Sandboxes could be accessible to licensed entities, unregulated startups or companies outside the financial services sector. Similarly, the European Union’s DLT Pilot Regime advances innovation and competition, encouraging market entry for startups by reducing upfront compliance costs through “gates” that align legal frameworks at each level while upgrading technological innovation. Clear regulations can cultivate and support innovation through open dialogue between regulators and innovators. Opinion by: Hedi Navazan, chief compliance officer at 1inch. 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.

Whales and large institutions continue their aggressive Bitcoin accumulation, with Strategy hinting at another Bitcoin investment that may be announced on Monday. Strategy co-founder Michael Saylor hinted at another imminent Bitcoin (BTC) investment on April 27, a week after the firm acquired $555 million worth of Bitcoin at an average price of $84,785 per coin. “Stay Humble. Stack Sats,” Saylor wrote, spurring investor speculation of the size of the firm’s next Bitcoin investment. Source: Michael Saylor “1.4-1.6b range imo,” wrote popular blockchain analyst RunnerXBT in anticipation of Saylor’s announcement, which would make it three times as large as Strategy’s previous investment. Related: Bitcoin treasury firms driving $200T hyperbitcoinization — Adam Back Strategy is the world’s largest corporate Bitcoin holder with over 538,200 Bitcoin worth over $50.5 billion, Bitbo data shows. The 10 largest Bitcoin holding companies. Source: Bitbo The firm’s investment philosophy inspired other companies to adopt Bitcoin, including Japanese investment firm Metaplanet, which surpassed 5,000 BTC holdings on April 24, in an effort to lead Bitcoin adoption in Asia. Related: Trump fought the bond market, the bond market won: Saifedean Ammous ETFs log $3 billion, and whales aggressively accumulate Bitcoin Whales, or large Bitcoin investors, are also accumulating Bitcoin under the $100,000 psychological mark. Whale wallets holding at least $1 million worth of Bitcoin restarted their accumulation at the beginning of April, increasing from 124,000 wallets on April 7 to over 137,600 wallets on April 26, Glassnode data shows. Bitcoin addresses with over $1 million balance. Source: Glassnode  The aggressive whale accumulation helped Bitcoin’s recovery to above $94,000, Nexo dispatch analyst Iliya Kalchev told Cointelegraph, adding: “Wallets holding over 10,000 BTC have been aggressively accumulating, with a trend score of 0.90, while smaller investors are also pivoting toward long-term holding.” “Trump confirmed discussions with China are ongoing, with Beijing offering exemptions on select US imports, suggesting a softening tone. Still, markets are awaiting tangible action before re-rating global risk,” he added. Bitcoin exchange-traded fund (ETF) inflows have also contributed to Bitcoin’s near 12% weekly recovery. Bitcoin ETF Flow, USD, million. Source: Farside Investors US spot Bitcoin ETFs recorded over $3 billion worth of cumulative net inflows during the past week, marking their second-highest week of investments since launching, Farside Investors data shows. Magazine: Bitcoin’s odds of June highs, SOL’s $485M outflows, and more: Hodler’s Digest, March 2 – 8

El Salvador, the world’s first country to adopt Bitcoin as legal tender, is still acquiring Bitcoin despite comments from the International Monetary Fund (IMF) appearing to claim the opposite. The treasury of El Salvador acquired 7 Bitcoin (BTC) worth over $650,000 in the seven days leading up to April 27, blockchain data from El Salvador’s Bitcoin Office shows. When asked about the country’s Bitcoin investments, Rodrigo Valdes, director of the Western Hemisphere Department at the IMF, said that the country continues to comply with its agreement to halt government Bitcoin accumulation. El Salvador Bitcoin holdings. Source: El Salvador Bitcoin Office “In terms of El Salvador, let me say that I can confirm that they continue to comply with their commitment of non-accumulation of Bitcoin by the overall fiscal sector, which is the performance criteria that we have,” said Valdes during an April 26 press briefing. Related: Crypto sentiment recovers, but weekend liquidity risks remain “But on top of that, I think this is very important for the discussion in El Salvador,” he added. “The program of El Salvador is not about Bitcoin. It’s much more, much deeper in structural reforms, in terms of governance, in terms of transparency.” In December 2024, El Salvador struck a deal with the IMF for a $1.4 billion loan, which required the government to drop Bitcoin’s status as a legal tender and stop its BTC accumulation. Related: Serbia’s Prince Filip says Bitcoin is being stifled, expects huge rally Flexible interpretation leaves room for Bitcoin buys The IMF’s agreement may still enable room for purchases through non-governmental entities, according to Anndy Lian, author and intergovernmental blockchain adviser. “The IMF’s ‘flexible interpretation’ suggests purchases may involve non-public sector entities or reclassified assets, maintaining technical compliance,” Lian told Cointelegraph, adding: “This alternative approach allows El Salvador to retain its Bitcoin-friendly image while securing critical IMF funding to address unsustainable public debt and limited reserves.” Lian added that El Salvador’s strategy highlights the growing tension between financial innovation and traditional economic policies. “El Salvador’s experience offers valuable lessons for nations exploring crypto adoption, emphasizing the need for robust regulatory frameworks and state capacity to navigate international financial pressures,” he added. Magazine: Altcoin season to hit in Q2? Mantra’s plan to win trust: Hodler’s Digest, April 13 – 19

Investment firms with Bitcoin-focused treasuries are front-running global Bitcoin adoption, which may see the world’s first cryptocurrency soar to a $200 trillion market capitalization in the coming decade. Institutions and governments worldwide are starting to recognize the unique monetary properties of Bitcoin (BTC), according to Adam Back, co-founder and CEO of Blockstream and the inventor of Hashcash. “$MSTR and other treasury companies are an arbitrage of the dislocation between the bitcoin future and todays fiat world,” Back wrote in an April 26 X post. “A sustainable and scalable $100-$200 trillion trade front-running hyperbitcoinization. scalable enough for most big listed companies to move to btc treasury,” he added. Hyperbitcoinization refers to the theoretical future where Bitcoin soars to become the largest global currency, replacing fiat money due to its inflationary economics and growing distrust in the legacy financial system. Source: Adam Back Related: Crypto sentiment recovers, but weekend liquidity risks remain Bitcoin’s price outpacing fiat money inflation remains the main driver of global hyperbitcoinization, Back said, adding: “Some people think treasury strategy is a temporary glitch. i’m saying no it's a logical and sustainable arbitrage. but not for ever, the driver is bitcoin price going up over 4 year periods faster than interest and inflation.” Back’s comments come nearly two months after US President Donald Trump signed an executive order to establish a national Bitcoin reserve from BTC forfeited in government criminal cases. Related: Serbia’s Prince Filip says Bitcoin is being stifled, expects huge rally Global firms continue Bitcoin accumulation Continued Bitcoin investments from the likes of Strategy, the largest corporate Bitcoin holder, may inspire more global firms to follow suit. Strategy’s approach is proving to be lucrative, with the firm’s Bitcoin treasury generating over $5.1 billion worth of profit since the beginning of 2025, according to Strategy’s co-founder, Michael Saylor. Source: Michael Saylor Japanese investment firm Metaplanet, also known as “Asia’s MicroStrategy,”  adopted a similar strategy, since surpassing 5,000 BTC in total holdings on April 24, Cointelegraph reported. As Asia’s largest corporate Bitcoin holder, Metaplanet plans to acquire 21,000 BTC by 2026. US financial institutions may also have more confidence in adopting Bitcoin after the US Federal Reserve withdrew its 2022 guidance discouraging banks from engaging with cryptocurrency. “Banks are now free to begin supporting Bitcoin,” Saylor said in response to the guidance withdrawal. “Banks will now be supervised through normal processes, signaling a more open regulatory environment for digital asset integration,” Nexo dispatch analyst Iliya Kalchev told Cointelegraph. Magazine: Altcoin season to hit in Q2? Mantra’s plan to win trust: Hodler’s Digest, April 13 – 19

Update (April 26 at 8:57 PM UTC): This article has been updated to include updates from Loopscale. Solana decentralized finance (DeFi) protocol Loopscale temporarily halted its lending markets after suffering an approximately $5.8 million exploit.  On April 26, a hacker siphoned approximately 5.7 million USDC (USDC) and 1200 Solana (SOL) from the lending protocol after taking out a “series of undercollateralized loans”, Loopscale co-founder Mary Gooneratne said in an X post.  Loopscale has since “re-enabled loan repayments, top-ups, and loop closing”, but “[a]ll other app functions (including Vault withdrawals) are still temporarily restricted while we investigate and ensure mitigation of this exploit,” Loopscale said in an April 26 X post. The exploit only impacted Loopscale’s USDC and SOL vaults and the losses represent around 12% of Loopscale’s total value locked (TVL), Gooneratne added.  “Our team is fully mobilized to investigate, recover funds, and ensure users are protected,” Gooneratne said. Loopscale’s ‘Genesis’ lending vaults. Source: Loopscale In the first quarter of 2025, hackers stole more than $1.6 billion worth of crypto from exchanges and on-chain smart contracts, blockchain security firm PeckShield said in an April report.  More than 90% of those losses are attributable to a $1.5 billion attack on ByBit, a centralized cryptocurrency exchange, by North Korean hacking outfit Lazarus Group. Related: Crypto hacks top $1.6B in Q1 2025 — PeckShield Unique DeFi lending model Launched on April 10 after a six-month closed beta, Loopscale is a DeFi lending protocol designed to enhance capital efficiency by directly matching lenders and borrowers. It also supports specialized lending markets, such as “structured credit, receivables financing, and undercollateralized lending,” Loopscale said in an April announcement shared with Cointelegraph.  Loopscale’s order book model distinguishes it from DeFi lending peers such as Aave that aggregate cryptocurrency deposits into liquidity pools. Loopscale’s daily active users. Source: Mary Gooneratne Loopscale’s main USDC and SOL vaults yield APRs exceeding 5% and 10%, respectively. It also supports lending markets for tokens such as JitoSOL and BONK (BONK) and looping strategies for upwards of 40 different token pairs.  The DeFi protocol has approximately $40 million in TVL and has attracted upwards of 7,000 lenders, according to researcher OurNetwork. Magazine: Ripple says SEC lawsuit ‘over,’ Trump at DAS, and more: Hodler’s Digest, March 16 – 22

United States Senator Jon Ossoff expressed support for impeaching President Donald Trump during an April 25 town hall, citing the President’s plan to host a private dinner for top Official Trump memecoin holders.  “I mean, I saw just 48 hours ago, he is granting audiences to people who buy his meme coin,” said Ossoff, a Democrat, according to a report by NBC News.  “When the sitting president of the United States is selling access for what are effectively payments directly to him. There is no question that that rises to the level of an impeachable offense.” Senator Ossoff said he “strongly” supports impeachment proceedings during a town hall in the state of Georgia, where he is running for reelection to the Senate. The Senator added that an impeachment is unlikely unless the Democratic Party gains control of Congress during the US midterm elections in 2026. Trump’s own Republican Party currently has a majority in both the House of Representatives and the Senate.  TRUMP holders can register to dine with the US President. Source: gettrumpmemes.com Related: US lawmaker says TRUMP coin could risk national security Conflicts of interest On April 23, the Official Trump (TRUMP) memecoin’s website announced plans for Trump to host an exclusive dinner at his Washington, DC golf club with the top 220 TRUMP holders.  The website subsequently posted a leaderboard tracking top TRUMP wallets and a link to register for the event. The TRUMP token’s price has gained more than 50% since the announcement, according to data from CoinMarketCap. The specific guest list is unclear, but the memecoin’s website states that applicants must pass a background check, “can not be from a [Know Your Customer] watchlist country,” and cannot bring any additional guests. On April 25, the team behind TRUMP denied social media rumors that TRUMP holders need at least $300,000 to participate in an upcoming dinner with the president. “People have been incorrectly quoting #220 on the block explorer as the cutoff. That’s wrong because it includes things like locked tokens, exchanges, market makers, and those who are not participating. Instead, you should only be going off the leaderboard,” they wrote. The TRUMP token jumped on news of the private dinner plans. Source: CoinMarketCap Legal experts told Cointelegraph that Trump’s cryptocurrency ventures, including the TRUMP memecoin and Trump-affiliated decentralized finance (DeFi) protocol World Liberty Financial, raise significant concerns about potential conflicts of interest.  “Within just a couple of days of him taking office, he’s signed a number of executive orders that are significantly going to affect the way that our crypto and digital assets industry works,” Charlyn Ho of law firm Rikka told Cointelegraph in February.  “So if he has a personal pecuniary benefit arising from his own policies, that’s a conflict of interest.” Magazine: Trump’s crypto ventures raise conflict of interest, insider trading questions

Opinion by: Raullen Chai, co-founder and CEO of IoTeX The United States and other superpowers are on the brink of a financial evolution. With President Donald Trump’s recent executive order establishing a Strategic Bitcoin Reserve (SBR) and a US Digital Asset Stockpile (DAS), the conversation around digital assets in government reserves is gaining momentum. Countries like Czechia have also followed suit with their sovereign digital asset reserve plans. While Bitcoin (BTC) and select altcoins are being considered, the discussion remains incomplete without including decentralized physical infrastructure network (DePIN) tokens. DePIN represents a new paradigm in infrastructure development, where communities, not corporations, build and operate essential networks like telecommunications that self-govern and distribute rewards to their individual contributors.  If it were to include DePIN tokens in its DAS, the US could use blockchain technology to create a self-sustaining infrastructure economy that strengthens technological leadership. This would also encourage DePIN projects to build and scale physical infrastructure (such as WiFi, environmental monitoring and transportation) for US citizens by sharing bandwidth from their everyday devices. This eliminates the need for companies and governments to incur heavy capital expenditures.  Moreover, if proven successful in the US, it would set an example for other countries to set up their own sovereign crypto reserves for the benefit of their own citizens. A supranational network of DePIN token reserves would also potentially unite different types of infrastructure and grids in other countries, reducing the cost and friction between them.  A new asset class for sovereign investment DePIN changes the way infrastructure is built. Instead of relying on governments or private companies to maintain critical infrastructure, DePIN uses blockchain and token incentives to enable community-driven bandwidth sharing.  DePIN networks, like those powering WiFi or movement sensors, prove that this model can be more efficient and cost-effective than traditional approaches. For the US government, investing in DePIN tokens through its DAS would serve multiple strategic objectives. Regarding economic resilience, DePIN networks create a self-sustaining gig around infrastructure, reducing the country’s reliance on large corporations and enabling communities to earn revenue by contributing to infrastructure needs. Traditional infrastructure is prone to geopolitical risks and monopolistic inefficiencies.  Meanwhile, DePIN offers a decentralized alternative that is censorship-resistant. The US has long been at the forefront of technological revolutions. Including DePIN in its sovereign investment strategy would reinforce its position as a leader in Web3 and blockchain. Many DePIN projects optimize resource utilization using token incentives to align infrastructure deployment with demand. This approach enables more sustainable, scalable solutions for Internet-of-Things sectors. While Bitcoin is a simple store of value, DePIN tokens represent ownership and operational stakes in decentralized infrastructure and possess tangible value just as equities or bonds. If countries were to include DePIN tokens in their digital asset reserves, they could use blockchain technology to create self-sustaining, interconnected infrastructure economies. Imagine being able to distribute electricity between two countries when there is an excess demand in one and an oversupply in another. Distributed ledgers’ decentralized and cross-border nature can allow such mechanisms to happen.  A true strategic hedge  Historically, sovereign wealth funds have been used to preserve national wealth by diversifying investments. These models are, however, increasingly vulnerable to inflationary pressures. The US inflation rate averaged 8.0% in 2022, and the price of all assets, whether stocks or Bitcoin, sold off heavily during the year in an overall market rout. No one was immune.  Recent: DePIN needs thoughtful regulation — not lawsuits On the other hand, DePIN offers a true hedge against these risks because the prices of core infrastructure services are, by definition, part of the Consumer Price Index (CPI), enabling users holding DePIN assets to directly profit from inflation increases or at least preserve their asset value.  DePIN networks also use token incentives to align infrastructure deployment with economic shifts. This is particularly relevant given that global electricity prices surged by over 20% in 2022 due to supply chain disruptions and geopolitical tensions. In response to increased energy costs, decentralized energy grids operating on blockchain-based token economies could dynamically adjust rewards for energy producers. Coupled with the rise in underlying CPI prices, DePIN networks have the potential to deliver compounded returns (rise in CPI + additional token issuance) in opposition to such market sell-offs.  Including DePIN tokens in a sovereign wealth portfolio exposes the US to next-generation economic models. DePIN networks are built on transparent principles that align incentives between users, infrastructure providers and investors. All nations that have historically led technological revolutions should seize the opportunity to embrace DePIN, reinforcing their status as pioneers.  The future is decentralized Integrating DePIN tokens into the US DAS or any other sovereign digital asset stockpile would not simply be a financial decision — it is a strategic imperative. With the world shifting toward decentralized economies, the US and other tech powerhouses must position themselves at the forefront of this transformation.  Countries that recognize and embrace this shift today will be best positioned to lead in the next era of global innovation. After all, infrastructure research has been stunted by decades of either monopoly or large-scale government ownership. If millions of individuals and communities became directly involved in their daily infrastructure through DePIN, it would increase the likelihood of infrastructure innovation due to the sheer volume of crowd involvement and offset research and development expenses from the government for the money to be allocated elsewhere. Decentralization is a win-win for all.  Investing in DePIN will also ensure that national infrastructure remains affordable and not subject to national-level deployments requiring massive tax hikes to fund, enabling a future where physical infrastructure assets are affordably maintained. Specifically, if US policymakers act now, they can secure America’s leadership in the next great infrastructure revolution that prioritizes decentralized ownership.  Opinion by: Raullen Chai, co-founder and CEO of IoTeX. 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.

Crypto investor sentiment has seen a significant recovery from global tariff concerns, but analysts warn that the market’s structural weaknesses may still result in downside momentum during periods of weekend illiquidity. Risk appetite appeared to return among crypto investors this week after US President Donald Trump adopted a softer tone, saying that import tariffs on Chinese goods may “come down substantially.” However, the improved investor sentiment “does not guarantee that Bitcoin will avoid volatility over the weekend,” analysts from Bitfinex exchange told Cointelegraph: “Sentiment improvements reduce fragility, but they do not eliminate structural risks like thin weekend liquidity.”  “Historically, weekends remain vulnerable to sharp moves — especially when open interest is high and market depth is low,” the analysts said, adding that unexpected macroeconomic news can still increase volatility during low liquidity periods. Related: Trump fought the bond market, the bond market won: Saifedean Ammous Bitcoin (BTC) staged a near 11% recovery during the past week, but its rally has previously been limited by Sunday liquidity dynamics. BTC/USD, 1-year chart. Source: Cointelegraph Bitcoin fell below $75,000 on Sunday, April 6, despite initially decoupling from the US stock market’s $3.5 trillion drop on April 4 after US Federal Reserve Chair Jerome Powell warned that Trump’s tariffs may affect the economy and raise inflation. The correction was exacerbated by the lack of weekend liquidity and the fact that Bitcoin was the only large liquid asset available for de-risking, industry watchers told Cointelegraph. Related: US banks are ‘free to begin supporting Bitcoin’ — Michael Saylor “While improved sentiment creates a more stable foundation, cryptocurrency markets are still susceptible to rapid movements during periods of reduced trading volume,” according to Marcin Kazmierczak, co-founder and chief operating officer of RedStone blockchain oracle firm. “The sentiment recovery provides some cushioning, but traders should remain cautious as weekend liquidity constraints can still amplify price movements regardless of the current market mood,” he told Cointelegraph. Crypto investors may have “maxed out on tariff-related fears” Cryptocurrency markets may have priced in the full extent of tariff-related concerns, according to Aurelie Barthere, principal research analyst at crypto intelligence platform Nansen. “It feels like we’ve maxed out on tariff-related fear,” she told Cointelegraph, adding: “While many remain uncertain about where things are headed over the next month or so, it also seems like markets were just waiting for the slightest signal that we’re back in the game.” “Whether the rally is sustainable depends on whether we can break through previous resistance levels, at least in isolation. It could have legs, as markets now seem to believe there’s a ‘Trump put’ under equities, the US dollar and US Treasurys,” Barthere added, warning of more potential volatility amid the upcoming negotiations. Nansen previously predicted a 70% chance that crypto markets will bottom and start a recovery by June, but highlighted that the timing will depend on the outcome of tariff negotiations. The tariff negotiations may only be “posturing” for the US to reach a trade agreement with China, which may be the “big prize” for Trump’s administration, according to Raoul Pal, founder and CEO of Global Macro Investor. Magazine: Bitcoin’s odds of June highs, SOL’s $485M outflows, and more: Hodler’s Digest, March 2 – 8

DeFi Development Corp (formerly Janover) aims to raise over $1 billion worth of capital to invest in Solana, the industry’s sixth-largest cryptocurrency by market capitalization. The Nasdaq-listed firm, previously a real estate financing platform connecting commercial property lenders and buyers, announced its plans in a Form S-3 registration statement filed with the US Securities and Exchange Commission (SEC) on April 25. The filing states that the funds will be used for general corporate purposes, including Solana (SOL) token acquisitions. DeFi Development Corp S-3 filing. Source: SEC According to the filing, the company may use proceeds from the offering to purchase more Solana, noting: “Solana does not pay interest, but staking rewards can be earned on Solana. The ability to generate a return on investment from the net proceeds from this offering will depend on whether there is appreciation in the value of Solana following our purchases of Solana with the net proceeds from this offering.” The company also warned that fluctuations in Solana’s price could lead to it converting the tokens into cash at a value “substantially below” the net proceeds raised. Related: Deloitte predicts $4T tokenized real estate on blockchain by 2035 Janover was a real estate financing company connecting lenders and buyers of commercial properties before a team of former Kraken exchange executives bought 728,632 shares of its common stock on April 7. Joseph Onorati, former chief strategy officer at Kraken, has since been appointed as chairman and CEO. The announcement comes shortly after the leadership of DeFi Development Corp adopted a Solana treasury reserve, “by applying a proven public-market treasury model to an asset that’s earlier in its lifecycle, structurally reflexive, and vastly underexposed as compared to Bitcoins.” The firm’s new Solana investment treasury has drawn comparisons to Michael Saylor’s Strategy, which has amassed over 538,200 Bitcoin (BTC) as of April 20 — the world’s largest corporate Bitcoin holder. The firm’s board of directors approved the company’s Solana-focused treasury policy on April 4, authorizing long-term accumulation and the launch of Solana validators to enable the staking of its treasury asset. Parker White, the firm’s chief investment officer, who previously served as an engineering director at Kraken exchange, already runs a Solana validator with $75 million in delegated stake. Related: US banks are ‘free to begin supporting Bitcoin’ — Michael Saylor Regulatory concerns remain for Solana investment While the Solana-focused treasury implementation marks a significant step for altcoin adoption, the firm remains concerned by the potential effects of opaque crypto regulations, according to the filing: “We may be subject to regulatory developments related to crypto assets and crypto asset markets, which could adversely affect our business, financial condition, and results of operations.” The firm cites unclear regulations around digital assets, which may “adversely affect the price of Solana” and, in turn, impact “the market price of our common stock.” The firm noted that Solana’s potential “reclassifying” as a security remains a particular concern, which may lead to the firm being classified as an investment company under the Investment Company Act of 1940. However, the firm’s share price has been benefiting from its Solana acquisitions. Its shares rose by over 12% when DeFi Development Corp added $11.5 million worth of Solana tokens to its treasury on April 22, Cointelegraph reported. “The decision by commercial property platform Janover to add SOL to its treasury is truly groundbreaking,” Chris Chung, founder of Solana-based swap platform Titan, told Cointelegraph. “I’m confident we will see many other businesses follow suit before long as crypto becomes increasingly adopted by traditional finance.”  Magazine: Ripple says SEC lawsuit ‘over,’ Trump at DAS, and more: Hodler’s Digest, March 16 – 22

Over $4 trillion worth of real estate could be tokenized on blockchain networks during the next decade, potentially offering investors greater access to property ownership opportunities, according to a new report. The Deloitte Center for Financial Services predicts that over $4 trillion worth of real estate may be tokenized by 2035, up from less than $300 billion in 2024. The report, published April 24, estimates a compound annual growth rate (CAGR) of more than 27%. The $4 trillion of tokenized property is predicted to stem from the benefits of blockchain-based assets, as well as a structural shift across real estate and property ownership. Global tokenized real estate value, growth predictions. Source: Deloitte “Real estate itself is undergoing transformation. Post-pandemic work-from-home trends, climate risk, and digitization have reshaped property fundamentals,” according to Chris Yin, co-founder of Plume Network, a blockchain built for real-world assets (RWAs). “Office buildings are being repurposed into AI data centers, logistics hubs and energy-efficient residential communities,” Yin told Cointelegraph. “Investors want targeted access to these modern use cases, and tokenization enables programmable, customizable exposure to such evolving asset profiles,” he said. Related: Blockchain needs regulation, scalability to close AI hiring gap The uncertainty triggered by US President Donald Trump’s import tariffs has boosted investor interest in the RWA tokenization sector, which involves minting financial products and tangible assets on a blockchain. Both stablecoins and RWAs have attracted significant capital as safe-haven assets amid the global trade concerns, Juan Pellicer, senior research analyst at IntoTheBlock, told Cointelegraph. The tariff concerns also led tokenized gold volume to surpass $1 billion in trading volume on April 10, its highest level since March 2023 when a US banking crisis saw the sudden collapse of Silicon Valley Bank and the voluntary liquidation of Silvergate Bank Related: US banks are ‘free to begin supporting Bitcoin’ — Michael Saylor Blockchain innovation could drive regulatory clarity Growing RWA adoption may inspire a more welcoming stance from global regulators, Yin said. “While regulation is a hurdle, regulation follows usage,” he explained, likening tokenization to Uber’s growth before widespread regulatory acceptance: “Tokenization is similar — as demand increases, regulatory clarity will follow.” He added that making tokenized products compliant with a wide range of international regulations is key to unlocking broader market access. However, some industry watchers are skeptical about the benefits introduced by tokenized real estate. The Truth Behind Tokenization and RWA panel. Source: Paris Blockchain Week “I don’t think tokenization should have its eyes directly set on real estate,” said Securitize chief operating officer Michael Sonnenshein at Paris Blockchain Week 2025. “I’m sure there are all kinds of efficiencies that can be unlocked using blockchain technology to eliminate middlemen, escrow, and all kinds of things in real estate. But I think today, what the onchain economy is demanding are more liquid assets,” he added.  Magazine: Ripple says SEC lawsuit ‘over,’ Trump at DAS, and more: Hodler’s Digest, March 16 – 22

New data from RWA.xyz, a platform tracking tokenized real-world assets, shows that six entities are responsible for 88% of all tokenized US Treasurys. The data suggests a concentration among a few funds as the market continues to develop. The largest issuer of tokenized treasures continues to be BlackRock. The company's tokenized US treasury fund, called BUIDL, has a market capitalization of $2.5 billion, 360% higher than its nearest competitor. BlackRock disclosed a total of $11.6 trillion in assets under management in the first quarter of 2025. Rounding out the top six are Franklin Templeton’s BENJI, with a market capitalization of $707 million, Superstate’s USTB at $661 million, Ondo’s USDY at $586 million, Circle’s USYC at $487 million, and Ondo’s OUSG fund holding assets worth $424 million. Together, those six funds account for 88% of all tokenized treasuries issued. A chart of the top six tokenized treasury funds by market cap. Source: RWA.xyz According to RWA.xyz data, the largest tokenized treasury funds have seen consolidation since the beginning of 2025. Of the top six funds, only Circle’s USYC experienced a decline in market cap over the past few months. Notably, BUIDL’s market cap increased by 291% from Jan. 1 to April 24. It now makes up 41.1% of the total tokenized US Treasurys market cap. Tokenized treasury funds market cap over time graph. Source: RWA.xyz Centralization of tokenized RWAs has a dark side: MEXC According to Tracy Jin, chief operating officer of MEXC, the centralization of tokenized real-world assets has a dark side, especially if those RWAs are on permissioned or semi-centralized blockchains. "Most tokenized assets will be issued on permissioned or semi-centralized blockchains,” Jin told Cointelegraph. “This gives authorities the power to issue restrictions or confiscate assets. The tokenization of assets such as real estate or bonds is still tied to the national legal system." The tokenized real-world asset market is expected to boom in 2025. The trend is driven by regulatory clarity, interoperability, solutions for liquidity, the evolution of identity from physical to digital, and even fractional ownership. According to RWA.xyz, the sector total market cap reached a high of $21.3 billion on April 21. Magazine: Tokenizing music royalties as NFTs could help the next Taylor Swift

Cryptocurrency firms and centralized exchanges are launching more traditional investment offerings, bridging the divide between traditional financial and digital assets. With investors seeking more flexible product offerings under one platform, the “line is blurring” between traditional finance (TradFi) and the cryptocurrency space, as the two financial paradigms signal a “growing synergy,” according to Gracy Chen, CEO of Bitget, the world’s sixth-largest crypto exchange. In the wider crypto space, Securitize partnered with Mantle protocol to launch an institutional fund that will generate yield on a basket of diverse cryptocurrencies, similar to how traditional index funds track a mix of stocks. The developments come after crypto investor sentiment staged a significant recovery, moving from “fear” to “neutral” for the first time since January 2025. Fear & Greed Index chart. Source: CoinMarketCap Investor sentiment was bolstered after US President Donald Trump said that import tariffs on Chinese goods will “come down substantially,” adopting a softer tone in negotiations for the first time since the reciprocal tariff announcement. Crypto firms moving into Wall Street territory Cryptocurrency firms and exchanges are increasingly moving into Wall Street territory, launching more traditional investment offerings and showcasing the increasing connection between crypto and traditional finance (TradFi). “There’s a growing synergy between traditional financial investments and the emerging crypto space,” according to Gracy Chen, the CEO of Bitget, the world’s sixth-largest crypto exchange. “Crypto players are now checking out traditional finance as they see the opportunity to bridge it,” Chen told Cointelegraph. “The lines are blurring. Investors want flexibility, and products that can straddle both worlds are naturally attractive,” Chen said. “Some players see TradFi as a safety net; others, like Bitget, see it as a launchpad for broader adoption.” She added: “In a volatile market, integration is smarter than isolation.” Continue reading Securitize, Mantle launch institutional crypto fund Tokenization platform Securitize partnered with decentralized finance (DeFi) protocol Mantle to launch an institutional fund designed to earn yield on a diverse basket of cryptocurrencies, the companies said.  Similar to how a traditional index fund tracks a mix of stocks, the Mantle Index Four (MI4) Fund aims to offer investors exposure to cryptocurrencies, including Bitcoin (BTC), Ether (ETH), and Solana (SOL), as well as stablecoins tracking the US dollar, Securitize said in an April 24 announcement.  The fund also integrates liquid staking tokens — including Mantle’s mETH, Bybit’s bbSOL, and Ethena’s USDe — in a bid to enhance returns with onchain yield, according to the announcement. The launch comes as retail and institutions alike increase exposure to cryptocurrencies, particularly Bitcoin, as a hedge amid escalating macroeconomic uncertainty. Continue reading Mantra says CEO has begun the process of burning his 150 million OM tokens Mantra founder and CEO John Patrick Mullin has started unstaking 150 million of his Mantra (OM) tokens in preparation for sending them to a burn address in an attempt to restore the token’s value by tightening supply.  Mantra announced on April 21 that the unstaking process had begun, and would be completed by April 29, at which point Mullin's Mantra (OM) tokens will be sent to the burn address and permanently removed from circulating supply. Source: John Patrick Mullin Mullin said it was a “first step in rebuilding trust with the community, but far from the last.”  Mantra said it was also in talks with “key ecosystem partners” about burning a further 150 million OM to bring the total burn amount to 300 million. With 150 million fewer OM, Mantra’s total supply will decline to 1.67 billion, and its number of staked tokens will drop by over 26% to 421.8 million OM from 571.8 million OM.  Continue reading Symbiotic raises $29 million for staking-based universal coordination layer Cryptocurrency staking protocol Symbiotic closed a $29 million Series A funding round led by Web3-focused investment firms, including Pantera Capital and Coinbase Ventures, to support the launch of a new economic coordination layer for blockchain security. The round included more than 100 angel investors, with participation by major industry players Aave, Polygon and StarkWare, the company said in an April 23 announcement shared with Cointelegraph. The closing of the funding round also marks the launch of Symbiotic’s Universal Staking Framework, which aims to be an economic coordination layer that bolsters blockchain security via staking. The new staking layer enables the use of any combination of cryptocurrencies to secure networks, including monolithic and modular layer-1 and layer-2 blockchains, the announcement said. “We’ve created a modular framework that lets protocols evolve security models over time while efficiently coordinating risk,” Misha Putiatin, co-founder of Symbiotic, told Cointelegraph. “This empowers protocols at every stage of their lifecycle to evolve their security models seamlessly without rebuilding infrastructure.” Continue reading SEC delays decision on Polkadot ETF The US Securities and Exchange Commission (SEC) delayed a decision on whether to approve a proposed exchange-traded fund (ETF) holding Polkadot’s native token, regulatory filings show.  According to an April 24 filing, the regulator has extended its deadline for a final ruling until June 11, nearly four months after the Nasdaq sought permission to list Grayscale Polkadot Trust on Feb. 24. Grayscale’s ETF filing adds to a roster of about 70 proposed ETFs awaiting SEC approval, including funds holding altcoins, memecoins and crypto-related financial derivatives, according to Bloomberg Intelligence.   Asset managers are pitching ETFs for “[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. Asset manager 21Shares is also awaiting permission to list its own Polkadot ETF. Continue reading DeFi market overview According to data from Cointelegraph Markets Pro and TradingView, most of the 100 largest cryptocurrencies by market capitalization ended the week in the green. The Official Trump (TRUMP) token rose over 73% as the week’s biggest gainer, after the president announced an exclusive in-person dinner for the top tokenholders. The Sui (SUI) token rose over 69% as the week’s second-best performing token. Total value locked in DeFi. Source: DefiLlama Thanks for reading our summary of this week’s most impactful DeFi developments. Join us next Friday for more stories, insights and education regarding this dynamically advancing space.

Opinion by: Daniel Ahmed, co-founder of Fasset and founding member of the Own Foundation Crypto was born from a vision to decentralize power, democratize finance and build systems where equity prevails over exploitation. Somewhere along the way, however, the movement lost its moral compass. As speculation surged, purpose dwindled. We must return crypto to its decentralized roots, a technological revolution built on long-term value, inclusivity and ethics rather than cyclical, speculative gains. The industry should take inspiration from emerging regions and how ethical financial investing can help to repair some of the ways our industry has often fallen short.  The rise of layer 2 When Vitalik wrote a blog post on layer 2s as a cultural extension of Ethereum, he brought up a critical point not only in business and technology but humanity — what we build in this life should be more significant than ourselves. Citing blockchains, he described how layer 2s, which he framed as subcultures of Ethereum, don’t merely differ in their technical benefits but how their positioning and intricacies trickle down into the culture of their communities.  In a space where new layer 2s are emerging rapidly, Vitalik’s insights are accurate and inspiring. When we build in a vacuum of echo chambers and monocultures, we miss out on the actual value of community in Web3.  What really brings communities together? Too often in crypto, that answer has been making people rich. What it should be is shared ideals that solve real issues. If done with purpose and conviction, this can still make people money.  While the rapid rise of layer 2 and layer 3 solutions promises scalability and efficiency, they are too often motivated by speculative gains rather than lasting value creation. If there’s any doubt, the numbers speak for themselves.  Layer-2 fatigue aside, the sheer scope of this data raises the question: Is our industry innovating just because it can, or is it creating a real-world utility that improves the lives of fellow humans? There’s nothing wrong with building something to make money, but if that’s the only reason we’re building something, that’s a problem. Recent: Islamic finance and Web3 take stage at Istanbul Blockchain Week We need to shift the narrative and look at how Web3 is solving actual, fundamental issues in emerging markets — particularly in regions like the Middle East, Southeast Asia and Africa — as a north star for how to ethically build the future of our space.  What does innovation indeed mean? If crypto projects think innovation in Web3 is only about VC-led fundraising rounds, comparing transactions per second, or building the next great decentralized application to trade cat coins, they have probably never existed in a place where even the simplest of financial transactions is cumbersome. In emerging markets, where people grapple with inflation, high remittance fees and limited access to financial services, we’ve witnessed how meaningful effects can transform the daily lives of millions. These are not abstract issues. They affect business owners, families, students, creators and more.  From stablecoins to secure and user-friendly payment applications, Web3 offers a unique opportunity to address these problems by creating decentralized financial systems that bypass the inefficiencies and inequities of traditional banking. For Web3 to truly make a difference in these regions, it must be designed with a focus on ethics, accessibility and long-term utility. We must lead by example.  In these markets, if innovation doesn’t create a meaningful disruption that improves people’s lives and addresses real-world problems, it’s nothing more than a buzzword. The most powerful solutions in technology are those that solve the world’s greatest problems. Ethical finance — Web3’s future? If you want inspiration, pay attention to those doing something different. If you want to inspire others, lead by example.  Ethical finance, particularly Islamic finance, offers valuable lessons for Web3. Dating back to the 1960s and 70s in the Middle East and North Africa (and even further to around 620 AD), this sector is built on risk-sharing, ethical investment and a focus on tangible assets. Islamic finance has endured for centuries because it rejects speculation in favor of real, meaningful value. For example, we’ve seen the rise of ethical finance institutions like Al Rajhi Bank, one of the most prominent Islamic banks globally, known for its investments in tangible assets and community-oriented financial products.  This model, which strives to build based on morals, substance and necessity versus mere financial opportunity, can guide Web3 as it moves beyond hype-driven growth. Build by example  As we look toward the next few years with the wind and a bull market beneath our wings, the time has come for Web3 to take a hard look in the mirror and redefine what success and innovation genuinely look like. The answer to this won’t be the same for everyone — that would be pretty boring if it were.  We must find a common ground of shared values that extends beyond technical achievements, market capitalization, total value locked or X followers but strives to innovate something more significant than any layer 2 or token.  When gearing up to launch something new, our industry must ask itself something that lives at the heart of Islamic finance: How will this product improve people’s lives? Is it true to the ethos of creating decentralized systems that are transparent, fair and built for the benefit of all? If we can’t answer that, perhaps we should step back and ask why. Then, get back to work. Opinion by: Daniel Ahmed, co-founder of Fasset and founding member of the Own Foundation. This article is for general information purposes and is not intended to be and should not be taken as legal or investment advice. The views, thoughts, and opinions expressed here are the author’s alone and do not necessarily reflect or represent the views and opinions of Cointelegraph.

Decentralized AI startup Nous Research has raised $50 million in a Series A round led by crypto venture giant Paradigm, marking one of the largest investments at the intersection of blockchain and artificial intelligence to date. According to an April 25 report from Fortune, the funding round values Nous at a $1 billion token valuation. Previous investors include Distributed Global, North Island Ventures, and Delphi Digital, who contributed to Nous’s earlier $20 million seed rounds. Operating since 2022, Nous Research is stepping into the spotlight with the latest fundraising to develop open-source AI models powered by decentralized infrastructure. The company leverages the Solana blockchain to coordinate and incentivize global participation in training its AI models, aiming to challenge centralized giants like OpenAI and DeepSeek. Nous Research announcing Nous Psyche on Solana. Source: Nous Research Related: Angels from Citadel, Jane Street, JPMorgan back $20M raise for Theo network Nous harnesses global idle compute power for AI training Founded by AI researchers, including collaborators like Diederik Kingma (co-inventor of the Adam optimizer), Nous is taking a different approach from typical crypto-AI projects. Instead of relying on centralized data centers, it enables individuals worldwide to contribute idle computing power for AI training. Blockchain technology underpins this model, ensuring secure, incentivized participation while mitigating risks like data poisoning through features such as Byzantine fault tolerance. “We very much came from a mentality that we want to create and serve the world’s best AI,” co-founder Karan Malhotra told Fortune. Per the report, the 20-person team at Nous Research will allocate much of the new capital toward scaling compute resources and advancing research. In December 2024, Nous told Venture Beat that it is pre-training a 15-billion-parameter LLM in a decentralized manner, livestreaming progress to showcase transparency and performance. Meanwhile, Paradigm’s backing signals a deepening interest in AI within crypto venture circles. “This open, community-oriented approach is a powerful contrast to the closed, centralized efforts from incumbent labs,” Paradigm partner Arjun Balaji reportedly told the outlet. Related: Crypto users cool with AI dabbling with their portfolios: Survey Paradigm becomes top-performing crypto VC Paradigm is one of the biggest and most successful crypto venture capital firms. In March, Web3 data platform Kaito AI ranked Paradigm as the top-performing crypto VC over the past year, posting an impressive 11.80% performance metric, outperforming other major players like Alliance (10.64%), Dragonfly (8.32%), a16z (6.94%) and Multicoin Capital (5.86%). Source: Rory Founded by Coinbase’s Fred Ehrsam and ex-Sequoia partner Matt Huang, Paradigm has built a strong reputation for spotting high-potential crypto projects early. Its portfolio includes leading DeFi platforms like Uniswap (UNI) and dYdX, as well as consistent backing for Ethereum scaling solutions such as Optimism. Paradigm also led a $255 million round for StarkNet, a key player in zero-knowledge rollup technology. Paradigm did not respond to Cointelegraph’s request for comment by publication. Magazine: Stablecoin for cyber-scammers launches, Sony L2 drama: Asia Express

Bitcoin adoption among United States financial institutions could see a major boost after the US Federal Reserve withdrew its guidance discouraging banks from engaging with cryptocurrency. On April 24, the Fed withdrew its 2022 supervisory letter that served as guidance to deter banks from engaging in crypto and stablecoin activities. The withdrawal spurred a notable uplift in Bitcoin (BTC) investor sentiment. The Federal Reserve Board’s withdrawal giving banks guidance on crypto activities. Source: Federal Reserve The 2022 guidance initially warned that crypto may pose risks to investors and the stability of the US financial system. The Fed’s move means that “banks are now free to begin supporting Bitcoin,” said Michael Saylor, co-founder of the world’s largest corporate Bitcoin holding firm, Strategy, in an April 25 X post. Source: Michael Saylor The Fed’s decision “is a significant development, as it will simplify the path to institutional adoption,” according to Anastasija Plotnikova, co-founder and CEO of blockchain regulatory firm Fideum. “The withdrawal of this particular guidance ensures that crypto assets will be overseen through standard supervisory processes,” she told Cointelegraph, adding: “We still need to have GENIUS and STABLE bills to be passed to further harmonize the crypto activities amongst Fed-supervised firms and other market participants. The combination of legislative effort will be the main driver behind the institutional adoption.” The Stablecoin Transparency and Accountability for a Better Ledger Economy, or STABLE Act, passed the US House Financial Services Committee with a 32–17 vote on April 2. The bill aims to create clear regulatory guidelines for dollar-denominated stablecoins. Source: Financial Services GOP The GENIUS Act, short for Guiding and Establishing National Innovation for US Stablecoins, passed the Senate Banking Committee by a vote of 18–6 on March 13. Related: Trump fought the bond market, the bond market won: Saifedean Ammous Fed’s shift marks end of us regulatory hostility The Federal Reserve’s decision may be a “meaningful turning point” for Bitcoin’s institutional adoption in the US, according to Eneko Knörr, co-founder and CEO of Stabolut, a yield-bearing stablecoin project. “Up until now, US regulatory hostility made it virtually impossible for traditional financial institutions to participate in this space,” Knörr told Cointelegraph. “With the recent shift in the Fed’s guidance, the door is finally open. This unlocks an enormous opportunity for banks — one that until now has been dominated by players like Coinbase and other crypto-native firms,” Knörr added. Knörr added that banks are now likely to move quickly to meet client demand and retain market share previously captured by crypto-native firms like Coinbase. Related: Serbia’s Prince Filip says Bitcoin is being stifled, expects huge rally Bitcoin adoption among financial institutions is also lagging in Europe, with less than 20% of European banks offering crypto services, despite the rising investor demand and regulatory clarity in the region. Magazine: Bitcoin’s odds of June highs, SOL’s $485M outflows, and more: Hodler’s Digest, March 2 – 8

US President Donald Trump’s memecoin team denied social media rumors that holders of the Official Trump (TRUMP) token need at least $300,000 to participate in an upcoming dinner with the president.  On April 25, the official X account of the Trump memecoin clarified that there is no $300,000 requirement to join the memecoin project’s dinner event featuring the US president. The rumor stemmed from community members citing the Solana blockchain explorer showing holders on the token’s contract address. At the time of writing, the explorer shows that the 220th-largest holder has 33,114 TRUMP, worth more than $400,000. However, the memecoin team said the explorer doesn’t reflect their criteria.  “People have been incorrectly quoting #220 on the block explorer as the cutoff. That’s wrong because it includes things like locked tokens, exchanges, market makers, and those who are not participating. Instead, you should only be going off the leaderboard,” they wrote.  Leaderboard for Trump Coin holders. Source: Trump Coin Related: SEC task force met with Trump-supporting firms to discuss crypto regulation Trump to hold dinner for top 220 memecoin holders On April 23, the Trump Coin team revealed the leaderboard, showing the wallet addresses of those who are in the lead to qualify for the dinner event.  The final guest list is still not finalized, but the memecoin team said any tokenholder who wants to be eligible must go through a background check. In addition, their wallet will also go through Know Your Customer and compliance measures.  According to the memecoin’s official site, the team will pick the winners based on time-weighted holdings. This calculates the amount held and the time the tokens were held. “The longer you hold, the higher your weighted score becomes,” the team wrote.  At the time of writing, the top holder in the leaderboard holds over 1.1 million tokens, worth $14.6 million, but only has a time-weighted score of over 686,000. The 220th wallet holder has 1,125 TRUMP, valued at almost $15,000, and a score of 136.  The leaderboard also shows that some addresses with zero current TRUMP holdings remain eligible for the dinner. This is likely due to how long they previously held their tokens. Magazine: Pokémon on Sui rumors, Polymarket bets on Filipino Pope: Asia Express