Regulatory delays hinder crypto market growth, deterring institutional investment and stalling potential price increases for digital assets.

The post Clarity Act stalled in Senate, XRP traders see slim odds for $2.6 April target appeared first on Crypto Briefing.

The sanctions on Hengli Petrochemical signal a significant escalation in US-Iran tensions, impacting global diplomatic and market dynamics.

The post US sanctions Hengli Petrochemical over Iranian oil purchases appeared first on Crypto Briefing.

Iran's actions heighten geopolitical tensions, disrupt global trade, and challenge quick diplomatic resolutions, impacting economic stability.

The post Iran mines Strait of Hormuz, reroutes global shipping through national waters appeared first on Crypto Briefing.

The Ethereum Foundation's ETH sales could increase market volatility and influence trader sentiment, impacting future price expectations.

The post Ethereum Foundation sells $33.5M ETH, retains $214.8M amid market skepticism appeared first on Crypto Briefing.

Gulf currency strategies face volatility as geopolitical tensions and potential supply disruptions influence market dynamics and trader sentiment.

The post Iran conflict impacts Gulf currency strategies as Brent crude tops $120 appeared first on Crypto Briefing.

Bitcoin Magazine

UTXO Management Launches Dual-Class Digital Credit Income Fund

UTXO Management, a subsidiary of Nakamoto Inc. (NASDAQ: NAKA), announced the formation of UTXO Preferred Income Strategies LP, a Delaware limited partnership structured to provide access to income from preferred digital credit securities. 

The fund introduces a dual-class structure designed to serve different allocator objectives within a single vehicle.

The structure includes a Senior Income Class and a Total Return Class. The Senior Income Class targets a fixed annual coupon paid monthly as return of capital sourced from preferred dividend streams, according to a company release.

Distributions flow first to this class, ahead of fees and junior allocations. The structure seeks to deliver yield above short-term U.S. Treasury bills, supported by a junior equity cushion. This class carries no management or performance fees.

The Total Return Class targets return through residual income after senior distributions. The strategy includes disciplined leverage, relative value positioning across the preferred digital credit stack, and participation in new issuance. This class absorbs first loss and captures upside tied to spread compression and income growth.

The fund’s initial portfolio is expected to include digital credit instruments such as the Strategy Variable Rate Perpetual Stretch Preferred Security (STRC). These instruments form part of a growing segment within capital markets that blends features of fixed income with digital asset exposure.

Chief Investment Officer Tyler Evans said the digital credit market has reached a stage of development that supports structured products, though access remains limited across institutional channels. 

“We designed our first structured credit product, UTXO Preferred Income Strategies LP, to give allocators access to these dividend-paying securities, with the capital structure enhancements, institutional servicing, and operational transparency they require,” Evans said. 

UTXO’s expansion into credit

Since 2019, UTXO Management and its affiliates have launched and managed several investment vehicles across the Bitcoin ecosystem. These include the Bitcoin Ecosystem Fund, focused on venture investments, and 210k Capital, LP, a hedge fund strategy centered on Bitcoin and related instruments. The launch of UTXO Preferred Income Strategies LP marks the firm’s entry into structured credit, extending its platform into income-oriented strategies.

UTXO Management operates as a Bitcoin-native asset manager across public and private markets. The firm allocates capital across liquid securities, venture investments, and strategic partnerships tied to Bitcoin infrastructure and adoption. Nakamoto Inc., its parent company, holds and operates a portfolio of Bitcoin-native businesses.

The fund will be offered to accredited investors who also meet the definition of qualified purchasers under applicable securities laws. Interests will be sold through private placement and will not be registered under the Securities Act of 1933. Investment decisions must rely on the fund’s offering documents, which contain full details on terms, risks, and structure.

The strategy involves a high degree of risk. Digital credit securities face regulatory uncertainty, liquidity constraints, and valuation challenges. The fund may employ leverage, which can increase losses. The dual-class structure depends on the performance of underlying assets and the sufficiency of the junior equity layer to protect senior distributions.

No capital has been deployed under the strategy at the time of announcement. Target yield and return figures represent internal objectives based on modeled scenarios and do not constitute forecasts or guarantees. Actual performance may differ based on market conditions, issuer credit quality, and broader economic factors.

Disclaimer: Bitcoin Magazine is published by BTC Inc, a subsidiary of Nakamoto Inc. UTXO Management is also a subsidiary of Nakamoto Inc. (NASDAQ: NAKA)

This post UTXO Management Launches Dual-Class Digital Credit Income Fund first appeared on Bitcoin Magazine and is written by Micah Zimmerman.

Bitcoin Magazine

VanEck Flags Dual Bullish Signals for Bitcoin as Funding Turns Negative, Hash Rate Slips

Bitcoin’s latest onchain and derivatives data point to a constructive setup, with VanEck highlighting negative funding rates and a clustered hash rate drawdown alongside softer volatility and cautious positioning. 

The firm notes in their latest report that realized volatility fell from about 56% to 41% as US‑Iran tensions eased, while the 7‑day average funding rate dropped to roughly -1.8%, its lowest level since 2023 and in the 10th percentile of readings since late 2020.

Since 2020, bitcoin’s average 30‑day return during periods of negative funding has been 11.5%, compared with 4.5% across all periods, with a 77% hit rate for positive performance. When annualized funding sank below -5%, subsequent 30‑day returns averaged 19.4%, and 180‑day returns reached 70%, making negative funding a recurrent contrarian buy signal. VanEck also reports that 19 of the top 50 180‑day return windows since 2020 began on days with negative funding, despite such periods representing only about 13.6% of the sample.

The Bitcoin hash rate is falling

On the mining side, the 30‑day moving average hash rate has fallen to the 16th percentile over 30 days and 9th percentile over 90 days, while difficulty has slid to the 5th and 6th percentiles on those horizons. 

Three sustained hash rate decline episodes have appeared since December 2025, the densest cluster since China’s 2021 mining ban, with the latest drawdown of about 6.7% ending on April 15, 2026. Across seven completed historical drawdowns, bitcoin was higher 90 days later in six cases, with a median gain of 37.7% and a 63.1% median gain over 180 days.

Derivatives and onchain activity reflect guarded sentiment rather than capitulation. Put premiums relative to spot volume are more than six times their April 2024 level, while active supply over the last 180 days slipped to 28.4%, signaling greater holder dormancy. 

Long‑tenured cohorts, particularly 7‑10 year and 10+ year holders, increased spent volume to the 85th and 90th percentiles of the past four years, but VanEck stresses that such movements do not always represent outright selling. 

Taken together, the firm concludes that negative funding and hash rate stress form a reinforced bullish backdrop for bitcoin.

“Both mining rate drawdowns and negative funding rates have been associated with strong forward BTC returns. As such, we have become increasingly bullish on bitcoin,” the analysts wrote. 

Editorial Disclaimer: We leverage AI as part of our editorial workflow, including to support research, image generation, and quality assurance processes. All content is directed, reviewed, and approved by our editorial team, who are accountable for accuracy and integrity. AI-generated images use only tools trained on properly license material. In Bitcoin, as in media: Don’t trust. Verify.

This post VanEck Flags Dual Bullish Signals for Bitcoin as Funding Turns Negative, Hash Rate Slips first appeared on Bitcoin Magazine and is written by Micah Zimmerman.

Bitcoin Magazine

DOJ Drops Criminal Probe of Fed Chair Powell, Clearing Path for Warsh

The Department of Justice ended its criminal investigation into Federal Reserve Chair Jerome Powell on Friday, removing the last major obstacle to Senate confirmation of Kevin Warsh as the central bank’s next leader — a development with consequences for monetary policy and Bitcoin.

U.S. Attorney for the District of Columbia Jeanine Pirro announced the closure of the probe, which had been launched over alleged cost overruns on a $2.5 billion renovation of the Fed’s Washington headquarters. 

Pirro said she was transferring the matter to the Fed’s own inspector general, calling for “a comprehensive report in short order.” She left open the possibility of reopening criminal proceedings if warranted.

The investigation had no legal foundation. A federal judge, James Boasberg, quashed DOJ subpoenas in March after a prosecutor conceded the government had found “essentially zero evidence” of a crime, branding the justification as “thin and unsubstantiated.” Powell himself called the probe a political weapon, stating in January that it was “a consequence of the Federal Reserve setting interest rates based on our best assessment of what will serve the public, rather than following the preferences of the President.”

A ‘bogus’ probe into Powell

Senator Thom Tillis, a North Carolina Republican on the Senate Banking Committee, had vowed to block Warsh’s confirmation until the probe ended, describing it as “bogus.” His opposition, combined with unified Democratic resistance, had stalled the nomination. With the investigation now closed, leadership expects a swift committee vote and floor confirmation before Powell’s term expires on May 15.

Warsh, 56, a former Fed governor and Stanford professor, testified before the Senate Banking Committee on Tuesday and pledged “strict independence” from the White House on rate decisions. “The president never once asked me to commit to any particular interest rate decision, period,” Warsh said. 

Senator Elizabeth Warren called him a “sock puppet” for Trump, while Republicans praised his qualifications.

For Bitcoin, the stakes are significant. The cryptocurrency has traded in the $70,000–$92,000 range this year as the Fed held rates steady at 3.5%–3.75%, with traders watching every signal from the central bank. 

Lower interest rates historically reduce yields on conventional assets, pushing capital toward risk assets like Bitcoin. When the DOJ first launched its probe in January, Bitcoin climbed toward $92,000 as institutional investors read the attack on the Fed as a threat to dollar credibility and a potential catalyst for rate cuts.

Warsh is considered more hawkish than Powell on inflation, having called the Fed’s post-pandemic rate response “the biggest policy error in 40 or 50 years.” 

Should he take the helm on May 15 and maintain a restrictive stance, Bitcoin bulls betting on rate-cut-driven liquidity expansion may find themselves waiting longer than expected.

This post DOJ Drops Criminal Probe of Fed Chair Powell, Clearing Path for Warsh first appeared on Bitcoin Magazine and is written by Micah Zimmerman.

Bitcoin Magazine

7 Reasons JPX Should Reconsider Its Proposed Digital Asset Exclusion From TOPIX

A closer look at why the consultation’s proposed deferral sits awkwardly inside a rules-based benchmark and what a better path forward might look like.

JPX Market Innovation & Research (JPXI) is considering a new rule that would defer companies whose principal asset is cryptoassets from new inclusion in TOPIX and other periodically reviewed indices. The proposal is measured in tone, and the underlying concern, how to treat a newly emerging category of issuer, is a reasonable one for any index provider to think about.

But the specific rule under consultation raises real questions. It would affect companies like Metaplanet, Remixpoint, and ANAP Holdings, along with a growing set of Japanese issuers whose business models are fully legitimate, fully regulated, and fully aligned with long-standing corporate treasury practices.

Here are seven reasons JPXI should reconsider the proposal before February 2026.

1. The Rule Doesn’t Measure What TOPIX Normally Measures

TOPIX is designed to function as a broad, neutral, investable benchmark of the Japanese equity market. Its methodology already contains objective tools for that purpose: liquidity screens, free-float-adjusted market capitalization criteria, continuation buffers, and established treatment for delistings and other listing-quality events.

A crypto-asset screen is a different kind of test. It doesn’t measure liquidity, free float, turnover cost, market capitalization, or listing quality. It looks instead at the composition of a company’s balance sheet.

That’s a meaningful departure from how TOPIX eligibility has historically worked, and it deserves a clearer justification than the consultation currently provides. If a company satisfies TOPIX’s ordinary eligibility requirements, deferring it because of one category of asset introduces a new kind of judgment into a methodology that has been valued precisely for its objectivity.

2. “Principal Asset Is Cryptoassets” Needs a Clearer Definition

The consultation refers to companies whose “principal asset is cryptoassets,” but leaves several administrative questions open:

• Is the test based on parent-only holdings or consolidated holdings?
• Would exposure through wholly owned subsidiaries, affiliated companies, or strategic equity stakes be captured?
• Would indirect exposure through securities, derivatives, or economically similar instruments count?
• Is the inquiry formal (direct legal title) or substantive (economic exposure)?

These aren’t edge cases. They determine which companies the rule actually applies to. Index methodology gains its credibility from rules that are objective, measurable, and consistently administrable, and a clearer definition would help everyone: issuers, investors, and JPXI itself.

3. The Rule May Be Easier to Work Around Than to Apply

A practical concern follows from the definitional question. If direct Bitcoin holdings by the parent company are disfavored, but equivalent exposure through other structures is not, the rule becomes sensitive to legal form rather than economic substance.

Consider the asymmetry:

• A direct Bitcoin position would trigger the rule
• A position in the iShares Bitcoin Trust ETF (IBIT) likely would not
• A position in a listed Bitcoin miner likely would not
• A stake in a crypto-linked subsidiary likely would not

The economic exposure in these cases can be very similar. The index treatment would be quite different. That creates an incentive for issuers to restructure toward less transparent forms of exposure rather than disclose direct holdings on the balance sheet. A benchmark rule generally works better when it encourages clear disclosure rather than the opposite.

4. The Carve-Out for Existing Constituents Creates an Internal Tension

The consultation contemplates deferring new inclusion while not applying the rule to existing constituents. This is understandable from a stability standpoint, no one wants unnecessary index churn.

But it also creates an internal tension in the rule’s logic. If Bitcoin treasury exposure were genuinely incompatible with TOPIX, it would be difficult to justify exempting current members. And if it isn’t incompatible, it’s worth asking why new entrants meeting the same investability criteria should be treated differently.

Reconciling that asymmetry would strengthen the proposal considerably.

5. “For the Time Being” Leaves the Timeline Open-Ended

The consultation says the deferral would apply “for the time being,” without specifying a review period, exit standard, or sunset mechanism. In practice, that leaves the timeline open-ended.

The timing matters here. October 2026 will be the first periodic review under the next-generation TOPIX framework in which Standard and Growth market companies can become eligible through the new process. A deferral that coincides with that review, without a defined path back to eligibility, could function as a longer-term exclusion even if it isn’t framed that way.

A clearer review cadence, or an explicit sunset, would make the proposal easier to evaluate on its merits.

6. Global Peers Have Taken More Time on the Same Question

JPXI is not the only index provider thinking about this. MSCI recently considered a threshold-based approach to digital-asset treasury companies and ultimately did not adopt a blanket exclusion, acknowledging the need for further work to distinguish operating companies from non-operating or investment-like entities. FTSE Russell has not announced a comparable rule.

The common thread is that the classification question is genuinely unsettled. Operating companies that hold Bitcoin alongside other business lines: media, energy, retail, mining, infrastructure, don’t fit neatly into existing categories, and the global index community is still working out how to think about them.

Given that, there’s a reasonable case for JPXI to engage further with issuers and market participants before codifying a rule, rather than moving ahead of where the broader conversation has landed.

7. An Asset-Neutral Framework Would Be More Durable

If the underlying concern is that some listed companies have become more concentrated or investment-like, that concern is worth addressing, but it isn’t unique to cryptoassets. Concentrated holdings can take many forms: listed equities, private-company stakes, fund interests, real estate, or other non-operating assets.

A framework that applies consistently across these categories would likely be more durable than a single-asset rule. It would also sidestep the definitional and arbitrage concerns above, since the test would focus on the economic characteristic JPXI actually cares about rather than on one particular asset class.

Several paths could accomplish this:

• Enhanced disclosure standards for concentrated treasury positions of any kind, giving investors clarity without changing index composition
• An asset-neutral concentration framework that applies the same test to any non-operating asset held above a defined threshold
• An optional index variant for investors who want exposure to the Japanese market with cryptoasset-heavy companies excluded, offered alongside, not in place of, the flagship benchmark

Where This Leaves the Proposal

None of this is to say JPXI’s instinct to think carefully about a new category of issuer is wrong. It isn’t. Bitcoin treasury companies are relatively new, and their prominence in Japan has grown quickly enough that questions about how to treat them are worth taking seriously.

But the specific rule on consultation is narrower, vaguer, and more open-ended than the questions it’s trying to answer. A clearer definition, a defined review period, and an asset-neutral framing would go a long way toward addressing the underlying concerns while preserving what has made TOPIX a trusted benchmark: objective, rules-based eligibility that reflects the Japanese equity market as it is.

That combination, substance over form, clarity over ambiguity, neutrality across asset classes, seems like the stronger path forward.

Add Your Signature

Bitcoin For Corporations has organized a coalition letter urging JPXI to withdraw the proposed exclusion and preserve TOPIX as a neutral, rules-based benchmark. The public comment period closes May 7, 2026 and every signature strengthens the case that this issue matters to issuers, investors, and market participants worldwide.

If the arguments above resonate, add your name. Individuals and organizations from any jurisdiction can sign.

→ Sign the coalition letter at topix.bitcoinforcorporations.com

You can also review the full position letter, see who has already signed, and share the campaign with your network from the same page. The deadline is firm, and the window to shape JPXI’s final decision is short.

Disclaimer: This content was prepared on behalf of Bitcoin For Corporations for informational purposes only. It reflects the author’s own analysis and opinion and should not be relied upon as investment advice. Nothing in this article constitutes an offer, invitation, or solicitation to purchase, sell, or subscribe for any security or financial product.

This post 7 Reasons JPX Should Reconsider Its Proposed Digital Asset Exclusion From TOPIX first appeared on Bitcoin Magazine and is written by Nick Ward.

Bitcoin Magazine

Nakamoto (NAKA) Launches Bitcoin Derivatives Program to Capture Volatility Income and Hedge Downside Risk

Nakamoto Inc. has launched an actively managed Bitcoin derivatives program aimed at generating income from market volatility while reducing downside exposure, according to a company statement released Friday.

The program, in operation since the first quarter of 2026, is structured as a complement to Nakamoto’s core strategy of holding Bitcoin as a treasury asset. It uses a portion of the company’s Bitcoin holdings as collateral in a derivatives strategy managed by Bitwise Asset Management through a separately managed account. Custody services are provided by Kraken Institutional.

The initiative centers on two primary components: an income sleeve and a hedging sleeve. The income sleeve involves writing covered calls and call spreads against a defined share of Nakamoto’s Bitcoin holdings. This approach seeks to capture premiums from options markets, where implied volatility in Bitcoin pricing often exceeds realized volatility.

The hedging sleeve focuses on purchasing protective puts and put spreads. These positions are designed to offset potential losses during periods of price decline, providing a buffer against adverse market moves. According to the company, premiums generated from the income sleeve may help fund the cost of these protective positions.

Bitcoin’s volatility as opportunity 

Tyler Evans, chief investment officer of Nakamoto and UTXO Management, said the firm views Bitcoin’s implied volatility as a consistent source of opportunity. He described the program as a structured effort to convert that volatility into shareholder value while maintaining exposure to the underlying asset.

Bitcoin used as collateral within the program remains under Nakamoto’s ownership and continues to be counted toward its reported holdings. The company emphasized that derivatives positions supplement its spot Bitcoin exposure rather than replace it.

Premiums collected through the program may be received in either Bitcoin or U.S. dollars, depending on the structure of each trade. Nakamoto said these proceeds can be allocated toward hedging costs, additional Bitcoin purchases, or general corporate needs in line with its capital allocation strategy.

The program operates under a unified investment mandate that defines limits on notional exposure, eligible instruments, counterparties, and custody requirements. It also accounts for the tradeoff between income generation and potential limits on upside participation due to call option positions.

Nakamoto framed the strategy as part of a broader effort to generate yield from its Bitcoin treasury while maintaining long-term accumulation goals. The company said the hedging component is intended to support balance sheet stability and reduce the risk of forced asset sales during periods of market stress.

Performance details from the program’s first quarter of operation are expected to be disclosed in Nakamoto’s upcoming Form 10-Q filing.

Bitcoin Magazine is published by BTC Inc, a subsidiary of Nakamoto Inc. (NASDAQ: NAKA)

This post Nakamoto (NAKA) Launches Bitcoin Derivatives Program to Capture Volatility Income and Hedge Downside Risk first appeared on Bitcoin Magazine and is written by Micah Zimmerman.

The Bitcoin ETF trade sold investors a simple promise: crypto exposure inside a wrapper that looked and felt like mainstream finance. Advisors could buy it, compliance teams could understand it, and institutions could route capital into digital assets through a product that fits the rest of their strategy.

That promise worked, and the US spot Bitcoin ETF complex had reached $91.71 billion in assets under management by April 8, according to CryptoSlate data.

Given the size of the spot Bitcoin ETF market, we can clearly see that there's no lack of demand. The main problem the industry is faced with now is infrastructure.

On April 20, Grayscale amended its proposed Hyperliquid ETF filing and named Anchorage Digital Bank as custodian in place of Coinbase.

On its own, that looks like a modest filing change tied to a newer crypto product, but in context, it's a sign that issuers are starting to think harder about how much of the regulated crypto ETF market still runs through one back-office gatekeeper.

As CryptoSlate reported on April 12, funds whose launch documents name Coinbase as custodian or primary custodian account for about $77.10 billion of the market, or 84.1% of total US spot Bitcoin ETF AUM. A stricter method that excludes multi-custodian arrangements or unclear split allocations still leaves roughly $74.06 billion, or 80.8%, tied to Coinbase in some custody role. Those numbers make custody concentration part of the institutional appetite for Bitcoin, not a side detail buried in the documents.

A single filing doesn't establish a migration trend, and the market shouldn't turn one amendment into a sweeping break. Even so, custody choices inside ETFs carry real informational value because issuers, lawyers, and boards tend to repeat the safest available template. When a market that has spent years making the same custody decision starts to show variation, it's worth paying attention.

The ETF boom built a custody market around one default choice: Coinbase

Coinbase became dominant in crypto ETF custody for practical reasons that made sense from the start.

When spot Bitcoin ETFs won approval in January 2024, issuers needed a provider with a recognizable compliance profile, institutional operating history, and an infrastructure stack that already looked credible to boards, auditors, market makers, and regulators. Coinbase had that advantage. Once the largest issuers chose it, the rest of the market inherited a strong template effect.

That pattern kept extending into 2026. Morgan Stanley’s updated filing in March named Coinbase Custody and BNY as custodians for its proposed Bitcoin exchange-traded product, which later launched as the Morgan Stanley Bitcoin Trust.

Another blue-chip institution entered the market and plugged into the same custody backbone already supporting much of the ETF complex. That's how concentration deepens in financial infrastructure, with each new entrant reinforcing the same operational standard.

Coinbase’s own regulatory trajectory has only strengthened that position. On April 2, the company said it had received conditional approval from the Office of the Comptroller of the Currency to charter Coinbase National Trust Company. That was an important milestone, because a federal trust framework offers a cleaner supervisory map for the custody business that sits underneath products like ETFs.

Coinbase’s scale reflects institutional trust, launch readiness, and regulatory familiarity. Those strengths are also what made it the market’s central operational node. Crypto has spent years arguing about decentralization at the asset layer, while the institutional wrapper built around Bitcoin moved toward a highly concentrated custody structure. We can now clearly see that product variety expanded faster than infrastructure variety.

ETF investors spend most of their time looking at inflows, fees, and price action, though it's custody that shapes how the system functions day to day. If the wrapper is supposed to make digital assets legible to mainstream finance, then the resilience of that wrapper matters almost as much as the underlying asset. The live question now is whether the market has reached the point where resilience requires more redundancy.

Grayscale’s Anchorage switch points to a market thinking harder about redundancy

Grayscale’s amended Hyperliquid ETF proposal names Anchorage Digital Bank as custodian in place of Coinbase. Anchorage brings a different regulatory and institutional profile to crypto custody. It's the first federally chartered crypto-native bank in the United States, and it's already been moving deeper into the institutional stack. Grayscale had previously tapped Anchorage as a secondary custodian for part of its Bitcoin and Ethereum trusts, while BlackRock added Anchorage in April 2025 to support its spot crypto ETFs.

That makes the Grayscale amendment look like part of a slow broadening in the custody field. The important point is that issuers now have stronger reasons to add alternatives into the mix as the category grows larger and the cost of concentration becomes easier to quantify. A market carrying more than $90 billion in spot Bitcoin ETF assets starts to look different when more than four-fifths of that exposure still depends on one custody provider in some form.

The biggest risks are in operations, reputation, and market-wide spillover.

ETF assets are segregated, custody agreements impose fiduciary duties, and the legal structure around these funds differs sharply from the exchange failures and balance-sheet collapses that shaped crypto’s earlier crises.

That architecture is important, but so is the fact that a dominant provider can still become a choke point if it faces outages, settlement disruption, licensing complications, or regulatory pressure. The larger Coinbase’s role becomes, the larger the consequences become for any event that interrupts its ability to perform that role across multiple issuers at once.

Markets mature by building backups, widening their vendor maps, and reducing the number of points where one institution’s disruption can spill across an entire category. Crypto ETFs have already done the first part of institutionalization by attracting demand and embedding themselves in mainstream portfolios.

The next part is about whether the system underneath those products can carry that growth without leaning so heavily on a single provider, even when that provider remains strong and increasingly well connected to regulators.

Hyperliquid is a newer and more politically sensitive product than a plain spot Bitcoin ETF, and its core perpetuals venue remains ring-fenced in the US.

That alone may have given Grayscale an extra reason to lean on a federally chartered custodian. Even if that turns out to be the narrow explanation, the choice still reveals something important: when issuers encounter a product with more regulatory edge, they may see value in bringing a different type of custodian into the structure. And once that habit enters the market, broader diversification becomes easier to imagine.

That is why this launch belongs in the bigger conversation around Coinbase, Anchorage, and the institutional path of Bitcoin ETFs. The category no longer needs to prove that investors want regulated crypto exposure. It needs to show that the infrastructure underneath that exposure can evolve beyond the first template that worked.

Wall Street’s relationship with crypto keeps moving through familiar stages. First came access, then came legitimacy, and the next stage is resilience. Grayscale’s switch to Anchorage doesn't settle that transition, but

it does make the direction easier to see. The ETF boom made Bitcoin legible to traditional finance. What comes next will determine how durable that wrapper looks at scale.

The post Grayscale moves away from Coinbase for new ETF product – Is Wall Street building a post-Coinbase custody map? appeared first on CryptoSlate.

Bitcoin is heading into a rare macro window where the first reaction may age fast.

The Federal Reserve is scheduled to conclude its April meeting on April 29, with the FOMC decision and press conference landing that afternoon. The next morning, the US Bureau of Economic Analysis is scheduled to release the first quarter GDP and March Personal Income and Outlays, the report that includes PCE inflation.

That gives traders a two-step test with almost no pause between the steps. First, they get the Fed's view on rates, growth, and inflation. Then they get fresh data that can support that view, complicate it, or force a quick rewrite.

For Bitcoin, this setup is much more important than a regular Fed preview.

Bitcoin traders watch the central bank for the same reason equity traders do: rates shape liquidity, liquidity shapes risk appetite, and risk appetite shapes how much investors are willing to pay for volatile assets. When easier policy looks closer, Bitcoin usually gets a better backdrop. When rates look higher for longer, the market starts charging more for risk.

Next week compresses that entire process into roughly 48 hours. The Fed will speak first, but the data will get the last word.

This is a sequence trade

A normal Fed week gives markets time to build a take, but this time the market gets a much shorter runway.

GDP tells traders how strong the economy looked in the first quarter. Strong growth can support the idea that the economy can handle tight policy. Weak growth can raise concerns that the Fed is staying restrictive into a slowdown.

PCE gives traders the inflation read the Fed watches most closely. Hotter PCE pushes the market toward a higher-for-longer rate path. Cooler PCE gives rate-cut expectations more room.

Bitcoin is exposed to both. Growth affects risk appetite, and inflation affects rate expectations. A strong economy with sticky inflation can tighten financial conditions. A soft economy with cooling inflation can make easier policy feel more plausible. A messy combination can create volatility because traders have fewer clean signals to price.

The danger for Bitcoin is being right on the Fed and wrong the next morning.

A dovish Fed followed by soft data is the easiest bullish mix. The central bank sounds open to easing, and the data gives it cover. A dovish Fed followed by hot data is the dangerous version. Traders hear patience on Wednesday, then get numbers on Thursday that make that patience hard to defend.

A cautious Fed followed by soft data creates confusion, and the market may start asking whether policymakers are moving too slowly. A cautious Fed followed by hot data is the clean higher-for-longer setup, and likely the hardest version for Bitcoin.

We’ve seen this sensitivity around prior FOMC windows, PCE releases, and inflation surprises. Next week puts those pressure points into one tight sequence.

The second reaction to PCE may decide the move

Bitcoin is a scarce digital asset with its own long-term thesis. But in short macro windows, it also trades like a high-beta expression of liquidity expectations.

It’s that second identity that will get tested next week.

If the Fed sounds comfortable and Thursday's data cooperates, traders can lean back into the idea that rate relief remains alive for later in the year. That would support bitcoin through the same channel that often supports growth stocks: lower expected rates, easier financial conditions, and a stronger appetite for risk.

If the Fed sounds calm and the data arrives hot, the market has to revise quickly. Rate-cut expectations move further out, and Bitcoin has to absorb that reset alongside the broader risk complex.

If the Fed sounds cautious and the data is weak, the reaction can get choppy. Traders may price more cuts while also worrying about slower growth. Bitcoin can benefit from the liquidity side of that trade, then struggle if risk appetite fades.

The bearish version is simple: cautious Fed, resilient growth, sticky PCE. That gives traders fewer reasons to expect near-term relief. It suggests the economy still has enough strength to keep inflation pressure alive, while the Fed has little reason to soften its stance.

The bullish version runs the other way: Fed language leaves room for cuts, GDP shows cooling demand, and PCE gives policymakers more confidence on inflation. We've already seen how cooler inflation data can support Bitcoin. A compressed version of that trade could move fast if the numbers line up.

Bitcoin is heading into a week where markets may price the Fed, sleep on it, and wake up to data that changes the meaning of the first move. That creates a 48-hour stress test of rates, growth, inflation, and the near-term case for risk.

The post Why this week could reprice Bitcoin in 48 Hours: Fed first, GDP and PCE right after appeared first on CryptoSlate.

The official DeFi United site shows over 69,550 ETH raised from 222 wallets across 1,623 transfers, all aimed at restoring rsETH backing, acting as DeFi's emergency recapitalization desk.

The effort is the closest thing the industry has built to a lender of last resort, assembled without a regulator, a central bank, or a mandate.

Aave's governance proposal puts the original rsETH shortfall at approximately 163,183 ETH.

Recoveries and freezes, which include 43,168 ETH from Kelp, 30,766 ETH frozen by the Arbitrum Security Council, up to 12,323 WETH from Aave liquidations, and 1,845 WETH from Compound, reduce the residual funding gap to about 75,081 ETH.

Related Reading

Crypto censorship resistance is questioned as major fight breaks out over who gets to freeze your digital dollars

Circle says freezes should follow lawful process. Tether is proving the appeal of fast intervention. After Drift and Rhea, stablecoin users may care more about stopping thieves than old crypto slogans.

Apr 17, 2026 · Gino Matos

DeFi United's current top line covers roughly 92.5% of that residual, leaving approximately 5,632 ETH. A broader tracker snapshot shows 100,200 ETH committed against a 116,500 ETH target when the Arbitrum frozen recovery path is included, putting total coverage at about 86%.

Both numbers carry the same caveat that the fund is close on paper, while most of the largest pieces are still pending governance votes, and several key contributions carry no disclosed amount.

How the hole got this large

KelpDAO's rsETH bridge ran a 1-of-1 configuration with LayerZero Labs as the sole verifier.

Galaxy's research found that the attacker exploited that setup to unlock 116,500 rsETH from Ethereum mainnet escrow, then used the stolen tokens as collateral across Aave, Compound, and Euler to borrow an estimated $236 million in WETH and wstETH.

Within 48 hours, DeFi's total value locked fell by roughly $13 billion. Aave alone shed about $8.45 billion in TVL, with WETH utilization hitting 100% as users rushed for the exits, simultaneously pushing USDT and USDC pools to full utilization.

LayerZero's own incident statement characterized the attack as RPC poisoning targeting infrastructure used by its decentralized validator network (DVN), stopping short of identifying a flaw in the LayerZero protocol itself.

The bridge route still depended on LayerZero Labs as the sole verifier, a configuration that concentrated trust in a single point. DeFi United lists LayerZero as “Confirmed, TBD.”

Because the entire incident ran through that bridge configuration, LayerZero's undisclosed contribution is one of the most consequential missing numbers in the recovery.

The coordination case

DeFi United assembled without a regulatory mandate, a central bank, or an order from anyone.

Before Aave's treasury proposal even entered governance, EtherFi, Lido, Mantle, Ethena, Ink, BGD Labs, Emilio Frangella, Ernesto, and Aave's founder Stani Kulechov had already assembled 14,570 ETH in pledges.

The fund's named contributors now include Mantle with 30,000 ETH pending vote, Aave DAO with 25,000 ETH pending vote, Kulechov personally committing 5,000 ETH, EtherFi at 5,000 ETH pending vote, Lido at 2,500 ETH pending vote, Golem Foundation at 1,000 ETH, Frangella at 500 ETH, and BGD Labs plus Ernesto at 350 ETH.

LayerZero, Ethena, Ink Foundation, and Frax Finance are confirmed, with amounts still undisclosed.

Aave's ARFC frames its participation under a “No Ghost Left Behind” posture, citing the DAO's prior decision to cover CRV-related bad debt directly, shielding suppliers from socialized losses.

That framing of voluntary, cross-protocol, and publicly visible is the strongest argument the industry can make for its own self-governance capacity.

The centralization embedded in the rescue

Aave's proposal authorizes Aave Labs to negotiate loans, settlements, indemnities, under-collateralized lending arrangements, warrants, token sales, and deployment of future protocol revenue.

The Mantle contribution is structured as a credit facility, with later donations earmarked to repay Mantle, leaving Aave's treasury ask unchanged.

Aave's math treats the Arbitrum Security Council's 30,766 ETH as a recoverable stream that requires further governance action to release and sits outside DeFi United's control, as the site explicitly acknowledges. The same applies to KelpDAO reopening withdrawals and LayerZero reopening the bridge.

The Arbitrum intervention cuts to the center of the decentralization contradiction. A security council with emergency powers froze tens of thousands of ETH linked to the exploit and moved it into a controlled intermediary wallet.

That action helped contain the damage, and also required someone with the power to say no and to use it unilaterally in a crisis. In a system built around credible neutrality, the freeze both saved and complicated the narrative.

What governance is actually debating

Aave's forum has already produced the backlash the situation invites. One commenter argues the recovery math is sound but says the DAO should not move to a Snapshot vote until governance adopts a collateral-risk framework that would have blocked rsETH from being listed at those parameters.

Paying the bill without fixing the kitchen solves the immediate crisis and creates conditions for the next one.

Another voice in the same thread argues that the parties most responsible for the configuration are contributing proportionally less than the burden they impose on Aave.

Lido's parallel forum debate sharpens the question of precedent. Its proposal authorizes up to 2,500 stETH but only as part of a fully funded recovery package, with Lido noting that the alternative could expose its EarnETH vault to roughly 9,000 ETH in losses.

Delegates are openly debating if the contribution is a donation, if it should carry better terms, and if participation sets a precedent for covering losses originating outside Lido's own protocol.

Two paths forward

In the bull case, the pending governance votes clear quickly, Kelp and bridge-side mechanics reopen in an orderly sequence, Arbitrum governance releases the frozen ETH, and the remaining TBD participants close the gap.

The recovery becomes a working model for cross-protocol crisis coordination, proof that DeFi can self-insure without external backstops, and that the governance layer functions even when composability fails at the infrastructure level.

The backlash about collateral risk reform gets folded into the next governance cycle, leaving the rescue intact.

In the bear case, one or more of the largest pending votes or external recovery steps slip. The Arbitrum freeze stays politically contested.

LayerZero's contribution, once disclosed, falls short of what the bridge's structural role in the incident warrants. Aave's balance sheet absorbs more of the residual for longer than the proposal anticipates, and the governance backlash hardens around who decided that a 1-of-1 bridge-backed token qualified as acceptable collateral at those parameters.

DeFi United still exists in this version, but it becomes the case study in how the industry coordinates around downside on terms set by the largest actors.

DeFi United may close the gap, restore rsETH backing, and demonstrate that decentralized protocols can absorb a nine-figure exploit without systemic collapse. The recovery effort so far gives genuine grounds for that conclusion.

The rescue's architecture of pending votes, a private credit facility, a security council's freeze button, undisclosed negotiations, and legal instruments authorized by a DAO also describes a financial system that runs on credible neutrality until the losses are large enough, and then runs on whoever has the keys.

The post DeFi lost $13B this month as the KelpDAO rescue shows both the best and worst of DeFi appeared first on CryptoSlate.

A crypto founder had his laptop compromised when he joined what appeared to be a Microsoft Teams call with Pierre Kaklamanos, a Cardano Foundation contact he had spoken with before.

When “Pierre” reached out about Atrium and sent a Teams invite, nothing looked out of place. On the call, the face and voice matched what he remembered, and two other apparent foundation members were present.

When the call lagged and dropped him, a prompt told him his Teams software was out of date and needed reinstalling through Terminal. He ran the command, then shut the laptop off because the battery was dying, which limited the damage in retrospect.

He describes himself as “quite technically savvy,” which is part of the point that the attack worked because the context felt legitimate.

Social engineers have always relied on familiarity, and executing that at scale once required either a compromised account or weeks of text-based rapport-building.

The video call was the authentication layer, the thing victims learned to trust, and replicating it is now within reach.

Fake update

Microsoft documented campaigns in February and March 2026 in which malicious files masqueraded as workplace apps, such as msteams.exe and zoomworkspace.clientsetup.exe, with phishing lures that mimicked legitimate Teams and Zoom meeting workflows.

In a separate warning, Microsoft described “ClickFix”-style prompts targeting macOS users, instructing them to paste commands into Terminal and targeting browser passwords, crypto wallets, cloud credentials, and developer keys.

The fake Teams update fits both patterns simultaneously.

Google Cloud's Mandiant unit described a crypto-focused intrusion built on the same structure. A compromised Telegram account, a spoofed Zoom meeting, what witnesses described as a deepfake-style executive video, and troubleshooting commands that launched the infection.

Mandiant said it could not independently verify which AI model, if any, generated the video, but confirmed the group used fake meetings and AI tools during social engineering.

On Apr. 24, the real Pierre Kaklamanos posted on X saying his Telegram had been hacked and that someone was impersonating him, along with “a few other people in the industry this week.”

He told followers to avoid clicking links or booking meetings through the account and to verify contact through LinkedIn direct messages.

By then, the founder had already messaged the account suggesting they switch to Google Meet. Whoever controlled Pierre's Telegram account replied that he had gotten busy and asked to reschedule, with the attacker still managing the persona once the call ended.

That exchange turns the incident from an isolated embarrassment into a live campaign signal that the method is active, the account compromise is the entry point, and the relationship history is the weapon.

Why generative media changes the threat surface

The founder said he now believes the call may have involved AI-generated or manipulated video. Forensic confirmation of the tools is lacking, and the OpenAI connection here is governed by its own safety documentation.

OpenAI launched its 4o image generation model on Mar. 25, describing it as capable of “precise, accurate, photorealistic outputs,” and released the ChatGPT Images 2.0 System Card on Apr. 21.

The firm stated that the model's “heightened realism” could, absent safeguards, enable more convincing deepfakes of real people, places, or events. One of the leading AI labs has now put on record that its own image model raises the ceiling on what a convincing fake can look like.

The World Economic Forum said in January 2026 that generative AI lowers the barrier to phishing while raising its credibility, through realistic deepfake audio and video that can evade both detection systems and human scrutiny.

INTERPOL declared financial fraud one of the world's most severe and rapidly evolving transnational crimes in March 2026, identifying deepfake videos, audio, and chatbots as tools that make impersonation of trusted people easier to carry out at scale.

Chainalysis estimated that crypto scams and fraud reached $17 billion in 2025, with impersonation scams up 1,400% year over year and AI-enabled scams generating 4.5 times as much revenue as traditional methods.

Crypto attracts this class of attack because it combines high-value targets, fast settlement rails, and an informal communications culture in which Telegram introductions and ad hoc video calls between founders are routine.

Mandiant documented that the group behind the crypto Zoom intrusion targeted software firms, developers, venture firms, and executives across payments, brokerage, staking, and wallet infrastructure.

Mandiant noted that the victim's data could be used to seed future social engineering, with each compromise generating material for the next.

Two paths forward

Zoom announced on Apr. 17 a partnership to add real-time human verification to meetings, a “Verified Human” badge, and a “Deep Face Waiting Room,” treating participant authenticity as a product problem.

Gartner predicts that by 2027, 50% of enterprises will invest in disinformation-security products or TrustOps strategies, up from less than 5% today.

In the bull case, that buildout reaches critical mass quickly enough that attackers must defeat multiple independent trust layers to complete a conversion, and the economics of impersonation campaigns deteriorate.

In the bear case, the timeline compresses before defenses do. Gartner warned that AI agents may halve the time required to exploit account takeovers by 2027, narrowing the window for human hesitation or security team intervention.

Deloitte estimated that generative AI-enabled fraud losses in the US alone could climb from roughly $12 billion in 2023 to $40 billion by 2027.

Every public-facing crypto executive becomes both a target and a lure asset, a source of voice recordings, video clips, and relationship graphs that attackers can deploy against the next victim.

Zoom is building liveness checks into meetings, Microsoft is documenting attack chains that impersonate its own software, and the FBI has warned that malicious actors are already using AI-generated voice and text to impersonate trusted contacts, advising against assuming a message is authentic because it appears to come from a known person.

Verification now requires independent rails, such as a known phone number, a hardware key, a shared passphrase established before any meeting, or a pre-agreed internal channel that no attacker has accessed.

The post OpenAI’s new image model shows why crypto scams are about to get much worse appeared first on CryptoSlate.

A Hong Kong-listed company wants to attract more than 10,000 BTC into a regulated asset management strategy, a target worth roughly $760 million at current prices.

While the number itself is jaw-dropping, it's the strategy's structure that reveals the true scope of this plan. Hong Kong is trying to become a place where large pools of Bitcoin capital can sit under local rules, inside a familiar financial system, without forcing Asian investors to rely on US ETFs or offshore exchanges for every serious allocation.

Li Lin, the founder of HTX (formerly Huobi), plans to move a trading system and investment team from his family office, Avenir Group, into Hong Kong-listed Bitfire Group. Bitfire is preparing a regulated Bitcoin-denominated strategy called Alpha BTC, with CEO Livio Weng saying the firm aims to attract more than 10,000 BTC from investors.

The strategy is expected to use derivatives tied to Bitcoin or BlackRock’s IBIT. Avenir has become one of Asia’s largest holders of US Bitcoin ETF exposure through a $908 million IBIT position.

As you can clearly tell from the size of this position, Asian capital already owns quite a bit of Bitcoin through Wall Street. Some of it sits in US ETFs, some sits with offshore platforms, and some is held by listed companies, family offices, and crypto-native investors who know the asset well but still need a structure their banks, auditors, boards, and regulators can understand.

Bitfire’s pitch is aimed at that gap: bring the capital closer to home, place it inside Hong Kong’s regulated market, and turn Bitcoin exposure from a side-door trade into something closer to local financial infrastructure.

Related Reading

Is China using US Bitcoin ETFs as a backdoor? Mystery Hong Kong firm invested $436M in BlackRock’s IBIT

As Chinese crypto regulations tighten, Hong Kong firms increasingly invest in US ETFs for Bitcoin exposure.

Feb 18, 2026 · Oluwapelumi Adejumo

Hong Kong wants the wrapper, not just the asset

The easiest way to understand the importance of this strategy is to separate Bitcoin from the wrapper around it.

Bitcoin itself trades globally. Anyone can look at the same price, send the same asset, and settle on the same network. But large investors rarely interact with it that directly. A family office, listed company, fund manager, or wealthy individual usually needs custody, execution, risk controls, audited statements, legal responsibility, and an involved regulator with clear guidelines.

That's why spot Bitcoin ETFs became such a powerful product in the US. They let investors buy Bitcoin exposure through a brokerage account, using familiar securities-market rails, with large asset managers and regulated custodians in the middle.

CryptoSlate has covered how Hong Kong-linked capital has already used that route, including the earlier disclosure of a $436 million IBIT position by Laurore Ltd. The US ETF wrapper solved one problem for global capital by making Bitcoin easier to own through traditional finance. However, it placed a large share of that access in the US market.

Hong Kong’s version is about local control over the wrapper. A regulated Hong Kong vehicle can speak to Asian investors in their own time zone, under regional rules, through a market they already use for equities, structured products, wealth management, and family-office capital. For a professional investor in Hong Kong, Singapore, Taiwan, and even mainland China, this affects which lawyers review the product, which banks touch the money, which courts have jurisdiction, and which government agencies regulate it.

Hong Kong has spent the past two years preparing for that role.

Its Securities and Futures Commission has licensed virtual asset trading platforms, expanded the room for regulated products, and tried to improve market liquidity by allowing licensed platforms to connect with global order books under new rules. In November, the SFC said it would let locally licensed platforms share global order books with overseas affiliates, a practical concession designed to make Hong Kong’s crypto market less isolated and more useful for serious capital.

The city is also focusing on stablecoins. Hong Kong passed a stablecoin bill in May 2025, creating a licensing framework for fiat-referenced issuers, and the regime went live in August of the same year. Standard Chartered, Animoca, and HKT were among the early names moving around the regulated HKD stablecoin race. Even though stablecoins sit in separate corners of the market, they point in the same direction as these Bitcoin derivatives: Hong Kong wants trading venues, stablecoin issuers, asset managers, and listed vehicles to operate under a rulebook it controls.

That gives Alpha BTC more weight than a standard product launch has. It's the biggest part of an even bigger effort to convert crypto from an offshore activity into regulated capital formation.

Related Reading

Hong Kong activates stablecoin licensing on August 1 in major digital asset push

Hong Kong aims to strengthen investor protection and market stability with its upcoming requirement for stablecoins to have full reserve backing.

Jul 4, 2025 · Liam 'Akiba' Wright

Bitcoin is global, but Bitcoin access is getting local

Bitcoin’s original promise was borderless money, but the largest pools of capital entering it now like borders around their exposure. They want a regulator, a listing venue, a custody arrangement, a legal claim, and a manager they can call when something goes wrong.

This causes a pretty tricky split: the asset can move globally in minutes, while the institutional structures around it move through local law, local politics, and local market habits.

That's where we'll see the geographic competition begin.

The US has dominated regulated access to Bitcoin through ETFs, with BlackRock’s IBIT serving as the symbol of Wall Street’s control of the trade. Offshore exchanges still dominate much of retail and derivatives activity, especially for users who want speed, leverage, and looser access.

Hong Kong is now trying to capture the third lane: Asian capital that wants regulated Bitcoin exposure without depending on US market infrastructure.

But why is this happening now? Hong Kong is competing for relevance as a financial center while Singapore, Dubai, the US, and Europe all build their own digital-asset regimes.

China’s mainland crypto restrictions remain strict, making Hong Kong’s role delicate yet very useful. It can serve as a controlled offshore venue for financial experimentation that Beijing would never allow at full scale. Hong Kong already launched spot crypto ETFs in 2024, expanded exchange licensing, pursued stablecoin rules, and explored broader virtual-asset products as part of a deliberate hub strategy.

There are limits to this, of course. A $760 million target is large enough to get attention, but minuscule next to the US ETF complex. Derivatives-based strategies carry their own risks, especially when returns depend on options, basis trades, volatility, and market timing. Hong Kong also has to manage the political tension between its crypto ambitions and Beijing’s discomfort with fast offshore digital-asset expansion. We've seen that play out last year when Chinese regulators reportedly asked some brokerages to pause real-world asset tokenization activity in Hong Kong.

Still, the direction Hong Kong is taking is pretty clear. Bitcoin adoption is entering a phase where the main problem is no longer whether institutions can buy the asset, but which system they use when they do.

If more Asian capital is held through Hong Kong-regulated structures, flows may start reacting to Hong Kong policy decisions, Asian wealth-management cycles, regional liquidity, and local investor behavior. Price discovery could become less US-centered over time, especially if Hong Kong products grow beyond passive exposure into lending, derivatives, structured income, and treasury management.

Bitcoin may trade as one global asset, but access to it is being sliced into national and regional wrappers. A US investor buying IBIT, a Hong Kong family office allocating to Alpha BTC, and an offshore trader using perps may all be expressing a Bitcoin view, but they're all doing it through different financial systems. Those systems shape who can enter, how fast money can leave, and what happens when regulators get nervous.

This is also why Hong Kong’s stablecoin push is so important. CryptoSlate has reported on Asia’s attempt to build a counterweight to dollar-dominated crypto rails, while its regulation map
showed how 2025 turned crypto law from a patchwork of warnings into a working set of national regimes.

A Bitcoin capital pool, a stablecoin license, a licensed exchange, and a listed asset manager all do separate things. Put them together, and they start to look like a local market structure.

Hong Kong’s wager is that Asia has enough Bitcoin demand to support those structures locally. The next phase of Bitcoin adoption will most likely be shaped by the financial systems those buyers choose. If Hong Kong succeeds, Asia will start building its own capital pool around Bitcoin, with its own rules, its own flows, and its own claim on the market.

The post Hong Kong eyes 10,000 BTC investment for Asia’s first regulated Bitcoin capital pool appeared first on CryptoSlate.

Tangem is heating up the self-custody market this spring with the launch of its exclusive Prize Draw Campaign, running from May 5 to June 6, 2026. This campaign offers users a chance to win a share of over 100 prizes, including a grand prize of $5,000 in BTC.

How to Participate in the Tangem Draw

To participate in the Tangem Prize Draw, users simply need to purchase a Tangem wallet directly through our exclusive promo link here during the promotion period. Participation is entirely automatic; every wallet item purchased counts as one entry—for example, a 3-pack order equals three tickets—with no additional sign-up required.

Prize Pool Breakdown: What Can You Win?

The campaign features a robust selection of 104 individual prizes. Beyond the headline Bitcoin rewards, Tangem is giving away the latest tech and specialized hardware security gear.

Winners will be announced on July 5, 2026, following a 30-day "cooldown" period used to verify that only non-refunded purchases are eligible. The announcement will take place on the Tangem blog and via a live stream on the Tangem Discord.

Bonus Offer: Double Your Entries and Save 50%

Running concurrently with the prize draw is a significant discount on high-capacity storage. Users who purchase a Family Pack (two 3-card sets) starting with a Black or Stealth wallet can receive the second set at 50% off by using our official discount link.

Notably, both sets in the Family Pack count as separate entries for the prize draw, effectively doubling your chances to win while securing your assets at a lower cost. Eligible collections for the discounted second set include popular designs like Bitcoin, White Stealth, and the "Hold Your Freedom" series.

Why Hardware Security Matters in 2026

In an era where Bitcoin prices are pushing toward six-figure milestones, the security of your private keys is paramount. Modern hardware wallets have evolved to address sophisticated 2026 threats like AI-enabled phishing and "pig butchering" scams.

Tangem's unique approach utilizes EAL6+ certified secure element chips within a card-shaped form factor. Unlike traditional devices, Tangem is battery-free and requires no cables; users simply tap the card to their smartphone to sign transactions. This eliminates the vulnerability of a written seed phrase, as the keys are generated and stored exclusively on the card's chip.

Safety and Anti-Scam Precautions

Tangem has issued a strict warning regarding security during this campaign. Official winners will only be contacted via email from the @tangem.com domain.

• No Payment Required: Tangem will never ask for payment to claim a prize.
• Privacy First: Official staff will never ask for your private keys or seed phrases.
• Verify Sources: If you receive messages from other addresses claiming you have won, it is a scam.

While Bitcoin ($BTC) remains in a choppy consolidation range near $77,500, a handful of high-beta assets have posted double-digit gains, diverging significantly from the broader index.

Historically, vertical moves of this magnitude—often exceeding 30% in seven days—invite a period of rebalancing. For traders, this week is less about chasing the "pump" and more about identifying where the floor sits. Here are 3 tokens that soared high and need to be on every trader's radar.

1. Humanity Protocol (H): The "Vesting Choice" Volatility

Humanity Protocol (H) has been the week's standout performer, surging over 45% following a massive spike in on-chain whale activity. Large-scale transactions for $H$ recently hit a five-month high, signaling that institutional players are positioning themselves within its "Proof of Humanity" ecosystem.

However, a fundamental headwind is peaking right now. The Humanity Foundation recently presented early backers with a difficult choice: extend their vesting schedules until late 2026 or accept a 70% haircut for immediate liquidity by April 26. This creates a complex supply dynamic for the remainder of this week.

• The Bull Case: If whales continue to defend the current breakout support at $0.12, a test of the $0.18 resistance level is likely.
• The Bear Case: A significant "cliff" token unlock is approaching on June 25 for those who chose the haircut. In the immediate term, the market is pricing in this "death spiral" risk. If $H$ fails to hold $0.14, expect a retracement toward the $0.11 EMA.

2. Stable (STABLE): Navigating Regulatory Momentum

Stable (STABLE) has climbed over 30% this week, reaching a market capitalization of approximately $742 million. This rally is fueled by the evolving regulatory landscape in the United States, specifically following the GENIUS Act guidelines and new institutional reserve portfolios from major banks.

Unlike purely speculative tokens, STABLE is positioning itself as a compliance-first asset. However, after such a rapid ascent, the token is showing signs of exhaustion.

• Key Levels: STABLE is currently hovering near a psychological resistance point of $0.035. A failure to break through this week could see profit-taking dominate the mid-week sessions, leading to a healthy retracement toward $0.028.
• Watch for: New Treasury Department rules regarding stablecoin AML frameworks, which could either solidify this rally or trigger a "sell the news" event.

3. MemeCore (M): High Gains vs. Thin Liquidity

The third asset on our radar, MemeCore (M), has been the "moonshot" story of the month, gaining nearly 30% this week and pushing its valuation into the multi-billion dollar range. While the price of $M is sitting near its local highs of $4.38, technical analysts are sounding the alarm.

The project recently executed a hardfork that reduced gas fees by 99%, attracting a wave of retail interest. However, on-chain scrutiny highlights a potential risk: a discrepancy between the high market cap and relatively thin liquidity in decentralized exchange (DEX) pools.

• Risk Factor: The volume-to-market cap ratio remains low. In thin markets like MemeCore's, even small sell orders can have an outsized impact on the price.
• Technical Outlook: Watch for a "double top" pattern near $4.65. If $M fails to sustain volume above its 24-hour average of $25M, a sharp correction toward the $3.89 support level is probable.

Summary: 3 Cryptocurrencies to Watch This Week

Ethereum ($ETH) has spent much of 2026 consolidating, leading many investors to ask the golden question: will Ethereum break its previous all-time high (ATH) of $4,900? A series of technical "ceilings" and shifting macroeconomic factors are currently dictating its pace toward a new record.

Can Ethereum Break its $4,900 ATH?

While a break above $4,900 is technically possible in 2026, it remains an optimistic target rather than a guaranteed outcome for the first half of the year. Analysts from major institutions like Standard Chartered and JPMorgan have set year-end targets ranging from $5,440 to as high as $10,000, contingent on a successful breakout from the current $2,300–$2,800 accumulation zone. However, as of April 26, 2026, ETH is trading near $2,333, indicating that the bulls still have significant work to do.

What Defines an "ATH Breakout"?

In technical analysis, an All-Time High (ATH) breakout occurs when an asset surpasses its highest ever recorded price—in Ethereum's case, approximately $4,878 (often rounded to $4,900). This event is significant because it enters a "price discovery" phase where no historical sell-side resistance exists. For ETH, the $4,900 mark isn't just a number; it is the final psychological barrier that separates the current range-bound market from a parabolic bull run.

Ethereum Price Prediction fr 2026

The journey to $4,900 is currently blocked by several key technical layers.

• The $2,750 Pivot: This is the immediate "line in the sand." Ethereum must reclaim this level to flip the medium-term trend from neutral to bullish.
• The $3,300 Resistance: A major supply zone. Historically, significant profit-taking occurs here, which could lead to temporary corrections back to $2,000.
• The Golden Cross: Traders are watching for the convergence of the 50-day and 200-day Moving Averages. A definitive "Golden Cross" in mid-2026 could be the catalyst for the final push toward the $4,900 ceiling.

Major Institutional Forecasts for 2026

The Role of External Catalysts

While internal technicals are vital, Ethereum's trajectory is heavily influenced by Bitcoin ($BTC). Bitcoin is currently trading near $78,000, maintaining high dominance. For Ethereum to lead the market toward its ATH, we typically look for a "rotation" of capital where investors move profits from BTC into ETH. Furthermore, news regarding US-Iran geopolitical de-escalation and energy price stability—often reported by Reuters—plays a silent but massive role in risk-on sentiment for 2026.

Bitcoin price successfully reclaimed the $78,000 level within the last 24 hours. While broader sentiment remains cautious, major tokens suggest a robust underlying demand even in the face of international diplomatic friction.

Crypto News Today

As of April 26, 2026, the market is showing a clear "flight to quality."

• Bitcoin (BTC): Trading at $78,000, up from the mid-$77k range seen earlier.
• Ethereum (ETH): Stabilizing at $2,330, tracking Bitcoin's recovery closely.
• Solana (SOL): Holding firm at $86, despite being one of the more volatile assets in recent weeks.

Geopolitical Impact on Digital Assets

In the context of modern finance, "geopolitical impact" refers to how international conflicts and diplomatic negotiations influence investor behavior. While Bitcoin was once considered purely a risk-on asset, it is increasingly behaving like a neutral reserve. As noted by analysts, Bitcoin has managed to hold stability even as other cryptocurrencies face a "phase of indecision" caused by global uncertainty.

US-Iran Tensions and the $344 Million Seizure

The most significant driver of the crypto news today is the escalating financial pressure from the Trump administration on Tehran. In a major move, the U.S. Treasury recently froze approximately $344 million in cryptocurrency allegedly linked to Iranian financial lifelines.

Secretary of the Treasury Scott Bessent confirmed that the agency is targeting multiple wallets to cut off financial avenues used to bypass international sanctions. This news has created a dual-effect:

• Short-term Fear: Initial concerns over regulatory crackdowns on "unhosted" wallets.
• Long-term Stability: A market realization that Bitcoin remains a transparent and trackable ledger, which may actually invite further institutional adoption under clear enforcement.

Crypto Analysis: Resistance and Support Levels

Despite the geopolitical stalemate, Bitcoin's technical structure remains intact. The RSI (Relative Strength Index) is currently hovering slightly above 50, indicating that bullish momentum has not fully disappeared.

• $BTC Key Resistance: The $84,000 zone remains the most relevant level for a major bullish breakout.
• $BTC Immediate Support: $76,000 is the near-term barrier; staying above this level is crucial for maintaining the current recovery.

World News Integration: The "Stalemate Premium"

Traditional markets are currently pricing in a "stalemate premium" as the US and Iran remain at an impasse. While oil prices and the Nasdaq have seen fluctuations, $Bitcoin has capitalized on its status as a "borderless" asset. The cancellation of high-profile diplomatic trips has not triggered the massive sell-off many feared, largely because institutional Bitcoin ETFs continue to see consistent, albeit smaller, inflows.

Crypto News Today April 26, 2026 Prices

MemeCore ($M) has surged into the spotlight, but for all the wrong reasons. While the token’s price action on the daily charts looks like a dream for bulls, a series of onchain investigations have pulled back the curtain on a troubling reality: extreme supply concentration.

Recent reports suggest that over 90% of MemeCore’s supply is held by a tight cluster of insider wallets, creating what experts call a "ghost market cap." This structure mimics the architectural flaws seen in RaveDAO (RAVE), which recently suffered a catastrophic 95% wipeout.

What is a "Ghost Market Cap"?

The term "ghost market cap" refers to a project with a multi-billion dollar valuation on paper, but with very little actual liquidity or "free float" (tokens available for the public to trade).

• Valuation: MemeCore currently boasts a market cap north of $5.5 billion.
• The Discrepancy: Despite this massive valuation, its 24-hour trading volume often struggles to stay above $30 million.
• The Risk: When insiders control the vast majority of tokens, they can manipulate the price with relatively small amounts of capital. This allows for artificial "short squeezes" that trap retail traders before the eventual exit.

Will M Price Crash like RaveDAO (RAVE)?

The warning signs for MemeCore are nearly identical to those seen in the RaveDAO (RAVE) collapse. RAVE was touted as a "Live-to-Earn" revolution, surging from $0.25 to nearly $28 in April 2026. However, onchain sleuth ZachXBT revealed that insiders controlled 95% of the supply.

Once the "pump" was exhausted, a single multisig wallet moved millions of tokens to exchanges, causing a liquidity vacuum. RAVE plummeted from its peak to sub-$1 levels in less than 48 hours, wiping out $6 billion in market value. MemeCore’s current structure suggests it is walking the same tightrope.

MemeCore Price Analysis: Is the Rally Sustainable?

Based on the current M/USD price data, the token is showing classic signs of a "low-float" pump.

• Parabolic Growth: Since early March 2026, M has climbed from $1.50 to its current levels around $4.60.
• RSI Divergence: The Relative Strength Index (RSI) is currently sitting at 81.01, deep in overbought territory. Historically, an RSI this high without significant volume growth is a precursor to a "blow-off top."
• Support Levels: The yellow lines on the chart indicate critical psychological supports at $3.00 and $2.00. A break below $3.00 could trigger a cascade of liquidations similar to the RAVE event.

Should you Sell MemeCore TODAY?

If you are holding or considering M, these are the "red flag" signals to monitor:

1. Wallet Movement: Sudden transfers from top-100 wallets to exchange deposit addresses.
2. Liquidity Depth: If the "buy-side" orders on order books begin to thin out while the price stays high, a "liquidity rug" may be incoming.

The USDPT stablecoin launching next month will serve as an alternative to SWIFT for agent settlements rather than consumer transactions.

Coachella is experimenting with AI-built artist tools, immersive digital worlds, and 3D performance archives that could shape future fan experiences.

A new GitHub plugin makes your coding agent emit escalating human moans as it suffers through your spaghetti code.

Researchers found that xAI's Grok was the riskiest AI model tested, often validating delusions and offering dangerous advice.

Bitcoin hash rate recovery and negative funding rates signal potential gains ahead, according to the ETF provider's latest network analysis.

Ripple inks partnership with South Korea's first pure online bank, expanding its footprint in the Asia region.

Shiba Inu's exchange netflows are calming down which can create a possibility of a proper market recovery.

Adam Back debunks the "first-ever" quantum attack on crypto, explaining why the 1 BTC prize from Project Eleven was awarded for what is no more than statistical guessing.

Bitcoin is knocking on the door of the psychological $80,000 barrier after surging to an intraday high of $79,490. Will this momentum last?

Ripple CTO Emeritus David Schwartz is pushing back against the accusations that he misled the community behind the token.

TLDR

• Citigroup increased its near-term Brent crude forecast to $120 per barrel from a previous $95 estimate
• Goldman Sachs elevated its fourth-quarter Brent projection to $90 per barrel, representing a nearly $30 increase from pre-crisis levels
• Persian Gulf crude shipments through the Strait of Hormuz have dropped to virtually zero
• Cumulative supply losses have reached approximately 500 million barrels since hostilities commenced
• Brent crude prices have surged nearly 50% since conflict erupted in late February

Major financial institutions Citigroup and Goldman Sachs have significantly elevated their crude oil price projections as the blockade of the Strait of Hormuz persists with no immediate resolution in sight. On Monday, Brent crude was hovering around $108.50 per barrel, climbing roughly 3% during the session and marking its sixth consecutive day of gains.

Citigroup’s revised outlook places Brent at $120 per barrel within the next zero to three-month timeframe. The financial institution has also adjusted its quarterly average projections to $110, $95, and $80 for Q2, Q3, and Q4 of 2026 respectively. These updated numbers represent substantial increases from the bank’s previous quarterly estimates of $95, $80, and $75.

The bank assigns a 50% probability to its primary forecast scenario. This baseline assumption anticipates the Strait will begin reopening by the conclusion of May, representing a one-month delay compared to Citi’s earlier expectations.

Citi’s research team noted that Tehran’s regime possesses both economic and geopolitical motivations to maintain the effective closure of the Strait for the foreseeable future. The analysts contend this strategy would constrict worldwide oil availability, accelerate the depletion of stored reserves, and elevate market prices.

According to Citi’s calculations, approximately 500 million barrels in aggregate supply have vanished from markets since the conflict’s onset. Should the waterway remain blocked throughout May, the institution forecasts aggregate losses could climb to 1.3 billion barrels.

Goldman Sachs Raises Forecasts

Goldman Sachs similarly revised its oil price predictions upward on April 27. The investment bank currently anticipates Brent will average $90 per barrel during the fourth quarter of 2026, representing an increase from its earlier $80 forecast. Goldman indicates this projection now stands nearly $30 above pre-crisis levels, before what market watchers have termed the “Hormuz shock.”

Goldman’s analysis suggests that 14.5 million barrels daily of Persian Gulf crude output disruptions are causing worldwide stockpiles to decline at an unprecedented rate of 11 to 12 million barrels per day throughout April. The firm anticipates a supply shortfall of 9.6 million barrels daily for the current quarter. Goldman’s updated forecasts position Brent at $100 for the present quarter and $93 during Q3.

Morgan Stanley Holds Steady

Morgan Stanley has maintained its existing price forecasts without modification. The institution anticipates Brent will average $110 during the current quarter, $100 throughout Q3, and $90 in Q4. Morgan Stanley’s calculations indicate Gulf region oil shipments have plummeted by 14.2 million barrels daily as a consequence of the closure.

The financial institution noted that worldwide petroleum reserves have declined by an estimated 4.8 million barrels per day, with diminished consumption partially explaining the discrepancy.

Citi’s optimistic scenario, assigned a 30% probability, envisions Brent reaching $150 per barrel should disruptions persist through June’s conclusion. An extreme scenario involving damage to critical infrastructure could propel prices to a sustained range of $160–$180 per barrel.

Under Citi’s primary forecast scenario, global crude inventories are projected to fall to their lowest levels in more than ten years by the end of July.

The post Oil Could Hit $150 Per Barrel If Hormuz Strait Remains Closed, Citi Warns appeared first on Blockonomi.

Key Highlights

• Chinese regulators officially prevented Meta’s planned purchase of AI company Manus this Monday
• The social media giant had announced plans to acquire Manus last December for over $2 billion
• Two key executives from Manus were prevented from departing China in March amid the regulatory examination
• China’s NDRC directed all involved parties to terminate the transaction
• This decision demonstrates Beijing’s strategy to retain control over critical domestic AI technology

Meta Platforms had been aggressively expanding its presence in the artificial intelligence agent market. Last December, the company revealed its intention to purchase Manus — an advanced AI agent developed by Butterfly Effect, a startup originally established in China but headquartered in Singapore.

According to analysts at Bloomberg Intelligence, the acquisition carried a valuation exceeding $2 billion.

Manus had gained significant attention in early 2024 when Chinese government media outlets touted it as the nation’s answer to DeepSeek, following the launch of what the company described as the globe’s first comprehensive AI agent. The technology demonstrated capabilities including resume screening and automated construction of stock analysis platforms.

Meta Platforms, Inc., META

However, market observers immediately identified substantial regulatory obstacles, considering the intensifying technological competition between Washington and Beijing.

These warnings ultimately materialized.

Chinese Authorities Intervene

The situation escalated dramatically in March. Manus executives Xiao Hong (CEO) and Ji Yichao (chief scientist) received summons to Beijing and were instructed they could not exit Chinese territory during the regulatory assessment period. Both executives typically operate from Singapore.

This Monday, China’s National Development and Reform Commission issued a formal rejection of the transaction. The regulatory body announced it would “prohibit the foreign investment in the acquisition of the Manus project” and mandated that all participants cease involvement in the deal.

Officials stated the determination was reached “in accordance with laws and regulations,” providing no additional explanation.

Industry experts are analyzing this development carefully. Manus had transferred its primary operations from mainland China to Singapore — a strategic maneuver employed by numerous Chinese enterprises attempting to minimize vulnerability to US-China geopolitical friction. However, this relocation provided no safeguard in this instance.

Alfredo Montufar-Helu from Ankura China Advisors noted the ruling demonstrates that restrictions previously concentrated on semiconductor technology are now encompassing artificial intelligence. “China is saying we will prevent foreign acquisition of assets we consider important for national security — and AI is now clearly one of them,” he said.

Meta announced in December the acquisition would “bring a leading agent to billions of people and unlock opportunities for businesses across our products.” The company has not yet released a statement regarding Monday’s regulatory rejection.

The NDRC’s decision may become a discussion point during the scheduled mid-May meeting between President Trump and President Xi Jinping.

Meta stock declined 2.41% following the announcement.

The post Meta Platforms (META) Shares Decline After China Vetoes $2B+ Manus AI Acquisition appeared first on Blockonomi.

TLDR

• Low-cost carriers Frontier, Avelo, and others have requested $2.5 billion in federal assistance from the Trump administration
• Airlines propose offering government warrants convertible to equity ownership in exchange for the aid
• The requested amount reflects projected additional jet fuel expenditures for the remainder of 2025
• Calculations assume jet fuel will remain priced above $4 per gallon through year-end
• Spirit Airlines is pursuing separate negotiations for government loans up to $500 million to prevent shutdown

Several U.S. low-cost carriers, among them Frontier and Avelo, have formally petitioned the Trump administration for $2.5 billion in federal financial support. The airlines have proposed providing the government with warrants that would be convertible into ownership positions in the carriers.

The appeal for assistance stems from escalating jet fuel expenses that are creating financial pressure on budget carriers. These airlines traditionally maintain minimal profit margins, providing limited capacity to weather substantial cost increases.

Carriers determined the $2.5 billion amount by projecting their additional fuel expenditures for 2025 beyond initial expectations. These projections are built on the assumption that jet fuel will maintain an average price exceeding $4 per gallon through the balance of the year.

Fuel price increases have resulted from disruptions to international oil markets triggered by the U.S.-Israel military conflict with Iran. Major airlines such as United and American have managed to offset portions of these elevated costs by implementing fare increases. Budget carriers face greater constraints in pursuing similar pricing strategies.

This petition represents an intensified approach. Earlier in the month, these same airlines lobbied Congress for a temporary suspension of airline ticket taxes. That initiative failed to gain traction.

Relief Talks Continue in Washington

Multiple budget airline chief executives made the trip to Washington, D.C., last week for discussions with Transportation Secretary Sean Duffy and Federal Aviation Administration Administrator Bryan Bedford. Officials from the Transportation Department have subsequently forwarded the carriers’ proposal to White House leadership.

President Trump remarked Thursday during an Oval Office appearance that he favors “having a lot of airlines, so it’s competitive.” Executives from budget airlines interpreted this statement as a positive signal. The White House has not provided comment regarding the assistance package when contacted.

Negotiations concerning potential economic relief are anticipated to proceed over the next several days.

Spirit Airlines in Separate Negotiations

Spirit Airlines is conducting independent discussions with administration representatives. The carrier is pursuing a loan arrangement for up to $500 million, offering warrants that would potentially provide the federal government with substantial ownership in the airline. This arrangement aims to prevent Spirit from entering liquidation.

The aviation sector has precedent for federal intervention. During the Covid-19 crisis in 2020 and 2021, U.S. airlines obtained $54 billion through grants and loan programs. The government subsequently liquidated acquired warrants via public sales, recovering over $550 million.

Several budget carriers are anticipated to provide investor updates in the near future regarding the financial impact of elevated fuel expenses.

The post Low-Cost Carriers Seek $2.5B Federal Bailout as Fuel Prices Soar appeared first on Blockonomi.

Key Takeaways

• Bank of America identifies increased shareholder cash distributions as a potential re-rating driver for Nvidia’s stock
• Despite a ~$5.08 trillion market cap making it the S&P 500’s biggest company, NVDA trades at roughly a 50% P/E discount versus Magnificent Seven counterparts
• The firm projects Nvidia will produce more than $400 billion in cumulative free cash flow during 2026–2027, yet offers only a 0.02% dividend yield
• Over the last three years, Nvidia distributed just 47% of free cash flow to investors, significantly trailing the ~80% peer group average
• Wall Street maintains a consensus “Buy” stance with a $275.25 average price target; shares opened Monday at $208.28

Bank of America researchers believe they’ve identified the next potential catalyst for Nvidia’s stock trajectory — and it’s not semiconductor-related.

NVIDIA Corporation, NVDA

The trigger, per analysts headed by Vivek Arya, centers on capital allocation. More precisely, distributing additional cash to investors.

Nvidia commands the S&P 500’s top position with a market capitalization approaching $5.08 trillion. However, the stock trades at roughly half the price-to-earnings multiple of fellow Magnificent Seven members — 26x and 19x for 2026 and 2027 projections, compared to peer averages of 49x and 41.5x respectively.

Bank of America contends this valuation disparity is difficult to rationalize based purely on business fundamentals.

Their analysis projects Nvidia generating north of $400 billion in combined free cash flow throughout 2026 and 2027 — approximately matching Apple and Microsoft together. Yet Nvidia’s market cap-to-FCF ratio sits roughly 30% below these technology giants.

A significant contributor to this disconnect, BofA maintains, is Nvidia’s virtually negligible 0.02% dividend yield. This microscopic payout excludes the stock from income-focused investment vehicles. The analysts note NVDA appears in merely 16% of equity income fund portfolios, versus a 32% average among technology sector peers.

The Shareholder Return Shortfall

Throughout the previous three-year period, Nvidia distributed only 47% of free cash flow via dividends and share repurchases. Comparable companies average approximately 80%. Even Nvidia’s own historical baseline from 2013 through 2022 stood at 82%.

Bank of America suggests elevating the yield to a range of 0.5% to 1% — aligning with Apple’s 0.4% and Microsoft’s 0.8% — would demand only $26 billion to $51 billion, representing 15% to 30% of anticipated 2026 free cash flow.

That represents a reasonable commitment for an enterprise of this magnitude.

The research team observes that a more robust capital return initiative could expand NVDA’s shareholder constituency, demonstrate earnings durability, and help eliminate the valuation discount.

Additional Considerations

Nvidia’s S&P 500 index weighting has expanded to roughly 8.3%, surpassing previous highs established by Apple and Microsoft. This constrains additional position-building by index-tracking investors.

Competitive pressure from AMD, alongside proprietary chip initiatives from Broadcom, Google, and Amazon, represents an ongoing monitoring point. BofA nevertheless anticipates Nvidia maintaining above 70% AI market value share.

Regarding institutional positioning, Massachusetts Financial Services reduced its NVDA holdings by 6.4% during Q4, though the position still comprises 4.0% of their portfolio at $12.52 billion.

Insider transaction activity intensified last quarter. Directors executed substantial sales, with insiders collectively divesting 953,976 shares worth approximately $171 million. Current insider ownership stands at 4.17% of outstanding shares.

Nvidia’s most recent quarterly report delivered revenue of $68.13 billion, representing 73.2% year-over-year expansion, while EPS of $1.62 exceeded analyst expectations of $1.54. NVDA commenced Monday’s session at $208.28, approaching its 12-month peak of $212.19.

The post Nvidia (NVDA) Stock: Bank of America Eyes Shareholder Returns as Key Valuation Driver appeared first on Blockonomi.

TLDR

• Former TSMC engineer Chen Li-ming received a 10-year prison sentence from a Taiwanese court for stealing semiconductor trade secrets
• Three additional engineers were sentenced to prison terms ranging from two to six years
• Tokyo Electron’s Taiwan division faces a NT$150 million fine (approximately $4.8 million USD)
• Taiwan applied national security legislation to a chip technology theft case for the first time
• The investigation began after TSMC’s security systems identified suspicious data access patterns in July

A Taiwanese Intellectual Property and Commercial Court issued a 10-year prison sentence on Monday to a former semiconductor engineer convicted of stealing proprietary trade secrets from Taiwan Semiconductor Manufacturing.

Chen Li-ming had been employed at TSMC before transitioning to a position at Tokyo Electron’s Taiwan division. He exploited relationships with colleagues still working at his former employer to obtain, photograph, duplicate, and transfer confidential documents.

The proprietary information was utilized by Tokyo Electron to enhance its technological capabilities and strengthen its competitive position when submitting proposals as a TSMC vendor.

Three additional engineers who remained on TSMC‘s payroll during the theft also faced criminal prosecution. The court handed them prison sentences between two and six years.

A manager at Tokyo Electron received a separate conviction for directing the destruction of confidential TSMC documents. That individual was given a 10-month sentence with a three-year suspension.

This marks Taiwan’s inaugural use of national security laws in prosecuting the theft of critical semiconductor technology. Government officials note that corporate espionage targeting sensitive technical information has increased dramatically in the past ten years.

Tokyo Electron Faces Multi-Million Dollar Fine and Payment Order

The Taiwan branch of Tokyo Electron was ordered to pay NT$150 million in penalties, equivalent to roughly $4.8 million USD. The court directed NT$100 million of this sum be paid directly to TSMC, while the remaining NT$50 million will go to Taiwan’s state treasury.

The company faced indictment as a corporate defendant in the proceedings.

Tokyo Electron released a statement saying it views the court’s decision with gravity and will enhance its information security protocols. The firm emphasized that neither investigators nor the court determined any organizational misconduct or external disclosure of confidential materials occurred.

Tokyo Electron further stated the verdict is not anticipated to affect its financial operations.

Detection of the Security Breach

TSMC’s internal security infrastructure identified anomalous access patterns to protected data in July of last year, initiating the criminal investigation.

A court representative verified that according to evidence presented by TSMC, Tokyo Electron never disseminated any of the stolen proprietary materials to outside parties. The precise terms of the settlement reached between the two corporations remain under seal.

The court determined that Tokyo Electron failed to adequately monitor Chen’s activities. His internal performance reviews had highlighted his capacity to “exploit existing client relationships” and acquire intelligence about customers and competitors.

TSMC produces semiconductors for leading technology firms including Apple and Nvidia. The company has pledged to pursue legal remedies against trade secret violations to safeguard its market position.

Tokyo Electron stated it provided full cooperation to law enforcement throughout the inquiry.

All convicted parties, including Tokyo Electron’s Taiwan operations, retain the option to appeal the court’s judgment.

Stock prices for both corporations showed minimal movement in response to the verdict.

The post Former TSMC Engineer Gets 10-Year Sentence for Stealing Chip Technology Secrets appeared first on Blockonomi.

After a quiet weekend despite some notable developments on the war front and a White House event evacuation, BTC’s volatility returned on Monday morning with a surge to almost $80,000 and an instant rejection.

Most altcoins followed suit, but red continues to dominate the 24-hour charts. HYPE and RAIN are among the few exceptions from the larger-cap alts.

BTC Stopped at $80K

After dipping below $75,000 at the beginning of the previous business week, BTC went on a run to touch $79,500 just hours later following the ceasefire extension by Iran and the US. The subsequent few trading days were a lot less eventful, as the cryptocurrency remained sideways between $77,000 and $78,500.

The weekend was just as calm, with the asset failing to make a major move. The only two exceptions were on Saturday morning and evening. At first, Trump canceled the US delegation’s trip to Pakistan to talk with the Iranians, and BTC slipped to $77,200.

However, it surged by a grand 12 hours later after reports emerged that Trump and all attendees at a special White House event were successfully evacuated following multiple gunshots fired by a 31-year-old California resident.

It wasn’t until Monday morning that BTC showed more volatility and jumped to $79,500 for the second time in the past week after reports that Iran has offered a deal to the US on how to end the war. However, bitcoin was rejected there and driven south to $77,500, where it found support and now sits close to $78,000 once again.

Its market cap is back at $1.560 trillion, while its dominance over the alts is still above 58% on CG.

PENGU Pumps

PENGU has stolen the show from the top 100 alts by market cap, surging by over 10% to near $0.01. JUP, HASH, and STABLE follow suit. The biggest gainers from the larger-cap alts are RAIN and HYPE, with price pumps of 4.5% and almost 3%, respectively.

In contrast, ETH, BNB, XRP, SOL, DOGE, ADA, and BCH have all posted minor losses, while XMR and ZEC are up by just over 1%.

The total crypto market cap remains at essentially the same spot as yesterday, at $2.680 trillion on CG.

The post Bitcoin (BTC) Halted at $80K, Pudgy Penguins (PENGU) Rockets by Double Digits: Market Watch appeared first on CryptoPotato.

Ripple’s cross-border token has been trading in a relatively tight range for about a month and even a smaller one for the past week or so.

However, popular analyst Ali Martinez believes this sluggishness is nearing an end as the asset prepares for a big price move.

Major Move Ahead for XRP?

Martinez’s analysis begins by acknowledging the triangle in which XRP has been consolidating for a while. Now, though, it has approached the apex, which means that “the probability of a large price move increases.”

However, he noted that triangles can be broken in either direction, which is why it’s still uncertain where XRP is headed. He advised his over 165,000 followers to keep an eye on the most key levels of support and resistance, located at $1.41 and $1.43, respectively.

It’s worth noting that the token tested and even briefly surpassed the upper boundary in the early Monday morning hours after reports claimed that Iran has proposed a new deal to end the war permanently to the US. However, it was rejected there and currently trades at the aforementioned support, which, if broken, could lead to a more profound decline, according to Martinez.

Fellow analyst CW outlined the recent rejection at $1.45, which they categorized as a “short-term decline,” but reassured that “there is no downward momentum.”

$XRP has saw a short-term decline, but there is no downward momentum. pic.twitter.com/AgHLQGCa8X

— CW (@CW8900) April 27, 2026

The Resistance That Needs to Fall

Ted Pillow, another very popular crypto analyst on X, also spoke about XRP’s sluggishness in the past few weeks, even when BTC climbed to a 12-week peak at almost $80,000. He believes this sideways action has “led both bulls and bears to get aggressive,” building a “decent chunk of short-side liquidity” above $1.50 and a similar liquidity cluster below $1.40.

CRYPTOWZRD, on the other hand, outlined the significance of the $1.445 resistance, which, as mentioned above, was tested earlier today but didn’t give in. They explained that if the Ripple bulls want to take the token higher, they need to reclaim that level, but for now, XRP’s position remains “indecisive.”

The post Ripple (XRP) Is Finally Ready for a Big Price Move: Analyst appeared first on CryptoPotato.

Doctor Profit, a well-known crypto trader, has said that Bitcoin (BTC) could climb into the $83,000 to $87,000 range before a sharp sell-off.

According to him, both bulls and bears are about to get wiped out in what he calls a “brutal event.”

A Bull Trap Playing Out to Plan

In his April 27 Sunday Report on X, Doctor Profit laid out his positioning in detail. After riding a long from $71,000, he’s now preparing to take profits and “add more shorts to the existing 120K short position” in the $83,000 to $85,000 range.

More than 90% of his short orders are clustered there, and he still sees the $79,000 to $84,000 zone as “a great area to accumulate shorts.” However, he said he’s “certain” the market pushes past $83,000 first, which is why he moved his entries higher.

The market watcher also flagged a resistance level sitting at $87,700, just 3% above the $85,000 area, and kept it on the table as a possible extension before the larger drop. His longer-term targets remain below $50,000, a call baked into his plan well before the current bounce started.

Doctor Profit’s read on the dynamic is blunt: influencers calling for shorts too early are providing the fuel to push prices higher, their positions getting liquidated on the way up while the real move gets set up.

“It will be a brutal event that is liquidating late bears and bulls! Both sides will lose unless you play it clever,” he wrote.

On the macro side, he flagged Wednesday’s FOMC as a likely non-event for rates but noted it’s Jerome Powell’s final press conference as Chair, with Kevin Warsh widely expected to take over, which would potentially put rate cuts on the table as early as June or September. However, Doctor Profit said he “highly doubts” that the dovish pivot materializes.

Sentiment Swings and Analysts Disagree

The setup Doctor Profit is describing fits a broader pattern playing out in real time. On-chain analytics firm Santiment tracked a swing from “extreme pessimism” at the start of last week to what it called “ultra FOMO mode” by Thursday, April 23, after Bitcoin recovered above $78,000. The firm flagged the crowd’s enthusiasm as a “clear caution signal” rather than a green light.

Analyst views beyond that are all over the place. Writing on April 26, Ali Martinez pointed to $96,000 as the next major resistance after BTC reclaimed the $73,700 MVRV band but warned a break below that level could send prices toward $55,000.

EGRAG CRYPTO’s worst-case target lands at the same level, although that analyst also mapped out a path to a new all-time high if Bitcoin reclaims $90,000.

On his part, Michaël van de Poppe believes a breakout above $84,000 to $87,000 would be enough for him to call the bear market over, with $100,000 as his most bullish scenario.

The post Bitcoin to Hit $83K-$87K Before Brutal Reversal, Says Trader appeared first on CryptoPotato.

Bitcoin broke out of the weekend slumber, surging to a 12-week peak of just under $80,000 before it was brutally rejected and driven south by roughly two grand in an hour or so.

The most obvious reason behind this rather unexpected Monday morning pump came after reports emerged that Iran and the US could be inching closer to a deal.

A New Deal?

The Kobeissi Letter cited information from Axios, which reads Iran has provided the US a new proposal for reaching a deal on the reopening of the Strait of Hormuz and ending the war through Pakistani mediators.

The known details as of press time include postponing nuclear negotiations to a later stage. US President Donald Trump is expected to hold a meeting with his top national security and foreign policy team on Monday to discuss how to move forward.

Previously, he canceled the trip of the US delegation, led by Steve Witkoff and Jared Kushner, to Pakistan shortly after the Iranian counterparties left the country without opening any talks.

The report also claimed that Trump wants to continue the US Navy blockade of the Strait of Hormuz, a step that sabotaged the previous peace talks and pushed Iran to reclose the key passage.

BREAKING: Iran through Pakistani mediators has given the US a new proposal for reaching a deal on the reopening of the Strait of Hormuz and ending the war, per Axios.

Details include:

1. Nuclear negotiations are postponed for a later stage under the deal

2. President Trump is…

— The Kobeissi Letter (@KobeissiLetter) April 27, 2026

Crypto Market Reaction

BTC’s price reacted with intense and immediate volatility after the report went live. Despite the weekend developments, which included an alleged attempt on Trump’s life, the asset had remained sideways at around $78,000.

However, it shot up to a 12-week peak of over $79,500 before it was halted and pushed to well below its starting point. Most altcoins followed suit, causing an uptick in the total value of liquidated positions, which is up to $275 million on a daily scale. The lion’s share came in the past 6 hours or so when the fluctuations transpired.

The post Liquidations Surge as Bitcoin Price Pumps and Dumps on US-Iran Deal Reports appeared first on CryptoPotato.

Bitcoin is trading at $78k, closing out the final week of April with a quiet but persistent grind higher that has now taken price above the $75k–$80k resistance band’s midpoint. The move has been orderly rather than explosive, and that measured character, combined with what the derivatives market is currently showing, may actually be setting up a more powerful move than most expect.

Bitcoin Price Analysis: The Daily Chart

The daily structure continues to improve. BTC has now spent several consecutive sessions above the former descending channel, the 100-day MA has been reclaimed, and the RSI is trending upward toward around high-60s, which shows building momentum rather than exhaustion. The $75k–$80k resistance zone is now being systematically reclaimed from within.

The next meaningful test sits at $80k, which is both a psychological round number and the upper boundary of the current resistance band. Above it, the $88k–$90k zone and the 200-day moving average around $85k form a significant supply cluster that can become the primary target.

What is notable on the daily is that each pullback over the past three weeks has found support at higher levels, a classic sign of demand building beneath the price rather than waning. The $74k–$75k area and the 100-day moving average nearby are now the first support levels to protect, as a close below them would be the earliest warning signal that the breakout is stalling.

BTC/USDT 4-Hour Chart

The 4-hour chart has developed an interesting two-layer structure. The broader ascending channel from the February lows frames the overall recovery, while a steeper short-term trendline that emerged in early April has acted as the actual engine of the recent push, driving price from around $68k all the way to current levels near $78k in three weeks.

BTC is currently riding the upper half of the broader channel while the steeper trendline continues to provide dynamic support, now near $77k. The RSI is also hovering around 60, which is elevated but not flashing overbought signals. The upper boundary of the broader channel near $79k–$80k coincides with the key resistance level, making that zone the natural near-term ceiling.

A sustained close above $80k would represent a breakout from both the channel and the psychological resistance level simultaneously, which is a confluence that would carry significant technical weight.

Sentiment Analysis

Sentiment-wise, there is a paradox that the funding rate chart presents. Despite BTC trading at $78k, which is its highest level since February, funding rates across all exchanges remain firmly negative, currently reading around -0.014. The red bar dominance that began in February has not resolved, even as the price has rallied more than 20% from the lows. Traders are still paying to hold short positions at levels that are approaching two-month highs.

This is not a warning sign, but more like a structural advantage for buyers. A market where funding is persistently negative while price rises means the rally is being fought, not embraced, by derivatives traders. Every short position opened against this move is a potential source of forced buying if the price continues higher.

When BTC eventually triggers a wave of short liquidations, and at $78k with heavily negative funding, the threshold for such a cascade is not far away. The buying pressure generated by covering shorts can amplify price moves significantly beyond what spot demand alone would produce. The fuel for a sharp move toward $85k–$90k is sitting right there in the derivatives market, waiting to be ignited.

The post Bitcoin Price Prediction: What Is BTC’s Most Likely Move in the Next Few Days appeared first on CryptoPotato.