The proposal's lack of official backing highlights the challenges in achieving diplomatic progress amid market skepticism and geopolitical tensions.

The post Iran’s former foreign minister proposes nuclear deal amid low ceasefire odds appeared first on Crypto Briefing.

The proposal's limited impact highlights the challenges of achieving diplomatic breakthroughs without official backing, affecting market confidence.

The post Iran’s ex-foreign minister proposes nuclear limits for sanctions relief and ceasefire appeared first on Crypto Briefing.

Iran's rejection and Qatar's stance highlight geopolitical complexities, reducing short-term resolution prospects and impacting market stability.

The post Iran rejects US ceasefire proposal, odds drop to 1% for April 7 resolution appeared first on Crypto Briefing.

Rising tensions in the Strait of Hormuz could disrupt global oil markets and necessitate urgent diplomatic interventions.

The post US-Iran ceasefire odds plummet as tensions rise over Strait of Hormuz appeared first on Crypto Briefing.

Block's Bitcoin faucet revival could boost crypto adoption, highlighting the potential for decentralized finance to reach broader audiences.

The post Jack Dorsey’s Block revives Bitcoin faucet, launching new version on Monday appeared first on Crypto Briefing.

Bitcoin Magazine

Cathie Wood Calls Bitcoin’s 50% Crash a “Victory” as Market Tests New Floor

Nearly six months after the Oct. 10 flash crypto crash erased millions of dollars in a single day, Bitcoin remains under pressure, trading well below its recent peak. The asset reached an all-time high of $126,080 on Oct. 6, but has since fallen about 47% to roughly $67,000.

Despite the drawdown, Cathie Wood, a long-time BTC advocate and chief executive of ARK Investment Management, is urging investors to maintain a long-term perspective.

Wood, whose firm was among the first publicly listed asset managers to gain exposure to Bitcoin in 2015, has maintained an active presence in crypto-related equities. ARK Invest continues to trade shares of companies tied to the digital asset sector, including Coinbase, Robinhood Markets, Block, Circle Internet Group, Bitmine Immersion Technologies, and Bullish, adjusting positions in response to market conditions.

In an interview on CNBC’s Squawk Box, Wood addressed the current downturn, framing the magnitude of BTC’s decline as a sign of maturation rather than weakness. 

She argued that a roughly 50% drop from peak levels represents a shift from the extreme volatility seen in earlier cycles, when Bitcoin routinely experienced drawdowns of 85% to 95%.

According to Wood, such severe collapses are unlikely to recur. She described Bitcoin as a “proven technology” and a “new asset class,” suggesting that its market behavior has evolved alongside broader adoption and institutional participation. 

In her view, the current correction would be considered a “real victory” within the Bitcoin community if losses remain limited to around half of its peak value.

Bitcoin’s vicious cycles

Historical data supports the comparison to prior cycles, though the current downturn has yet to match earlier bear markets in severity. During the 2021–2022 cycle, Bitcoin fell nearly 80% from its then-record high of about $69,000, eventually bottoming near $15,600. 

Onchain data from Glassnode indicates that the present decline, measured against the October 2025 high, has reached roughly 52% at its lowest point.

All this is happening as bitcoin’s price decline forces a growing number of public companies and sovereign entities to unwind their BTC treasuries, marking a sharp reversal from the accumulation trend of the past two years. Firms that once championed long-term holding are now selling to manage liquidity, repay debt, and fund strategic pivots.

Companies like Riot Platforms, Genius Group, Empery Digital, Nakamoto Holdings, and Marathon Digital have all reduced holdings, in some cases significantly. Marathon alone sold over 15,000 BTC for $1.1 billion to cut debt, while Genius Group fully exited its position. Riot has also been offloading bitcoin as it shifts focus toward AI and high-performance computing infrastructure.

Even firms still committed to bitcoin are trimming reserves. Empery Digital sold part of its holdings to repay loans, while Nakamoto Holdings liquidated a smaller portion to support operations. Meanwhile, Bhutan has been reducing its state-backed bitcoin reserves after previously accumulating through mining.

Despite the sell-off, public companies still collectively hold about 1.16 million BTC, over 5% of the total supply. 

This post Cathie Wood Calls Bitcoin’s 50% Crash a “Victory” as Market Tests New Floor first appeared on Bitcoin Magazine and is written by Micah Zimmerman.

Bitcoin Magazine

Riot Platforms Sells 3,778 Bitcoin in Q1 as Miner Strategy Shifts Toward AI Infrastructure

Riot Platforms sold 3,778 bitcoin in the first quarter of 2026, generating $289.5 million and marking a shift in strategy as the miner redirects capital toward infrastructure and high-performance computing.

The volume sold exceeded the company’s quarterly production of 1,473 BTC by roughly 2.6 times, signaling a drawdown of treasury holdings rather than routine profit-taking. Riot ended the quarter with 15,680 BTC, down 18% from 18,005 BTC at the close of 2025.

The selling appears to have extended beyond the reporting period. Blockchain analytics firm Arkham Intelligence flagged a 500 BTC outflow from a wallet linked to Riot following the end of the quarter, suggesting continued liquidation activity.

The imbalance between production and sales comes as Riot accelerates its expansion into artificial intelligence and high-performance computing colocation. The company has begun repositioning its business model away from sole reliance on bitcoin mining, seeking to monetize its energy assets and data center footprint through long-term infrastructure contracts.

In January, Riot sold 1,080 BTC to fund the purchase of 200 acres at its Rockdale, Texas site. It also entered a ten-year agreement with Advanced Micro Devices to provide 25 megawatts of capacity, with an option to scale to 200 MW. The deal is expected to generate about $311 million in contract revenue over its initial term.

Operational metrics complicate a distress narrative. Riot reduced its all-in power cost to 3.0 cents per kilowatt hour, a 21% decline from the prior year, while increasing deployed hash rate by 26% to 42.5 exahashes per second. Average operating hash rate rose 23% to 36.4 EH/s, reflecting continued investment in mining capacity.

The company also generated $21 million in power credits during the quarter, more than double the year-ago period, through participation in grid services and energy programs.

Bitcoin HODLers like RIOT are selling

Industry conditions remain a factor. Rising energy costs tied to geopolitical tensions have pressured margins across the mining sector, prompting several operators to liquidate holdings. MARA Holdings, Genius Group, and Nakamoto Holdings collectively sold more than 15,000 BTC in recent days, reflecting a broader shift in capital allocation.

Riot’s Q1 activity underscores a turning point for the sector, where bitcoin reserves are deployed as funding sources for diversification rather than held as long-term balance sheet assets.

The trend extends beyond corporate treasuries. Bhutan has continued to reduce its BTC holdings, selling a total of 3,103 BTC. A single transaction on March 30 accounted for 375 BTC, according to Glassnode data. 

The country had built its position through state-backed mining operations, reaching more than 13,000 BTC at its peak in October 2024.

Despite the recent selling, public companies still hold about 1.16 million BTC, or more than 5% of bitcoin’s fixed supply of 21 million, according to BitcoinTreasuries.net.

This post Riot Platforms Sells 3,778 Bitcoin in Q1 as Miner Strategy Shifts Toward AI Infrastructure first appeared on Bitcoin Magazine and is written by Micah Zimmerman.

Bitcoin Magazine

The Bitcoin Treasury Model With a Built-In Valuation Floor

There is a version of the Bitcoin treasury conversation that has become almost routine at this point. Bitcoin is hard money. Fiat debases. Companies that hold Bitcoin on their balance sheet are making a rational long-term decision. All of this is true, and none of it is the interesting question anymore.

The interesting question is structural. Not should a company hold Bitcoin, but what kind of company should hold it, and what that choice implies for how the company performs across a full market cycle, not just a favorable one.

Three models have emerged. Each reflects a different level of conviction, a different capital structure, and a different set of tradeoffs.

• The pure-play. A company whose primary purpose is accumulating Bitcoin through capital raises, financial engineering, etc, with no core operating business. Lean structure, singular mission.

• The digital credit issuer. The most sophisticated expression of the pure-play thesis. These companies issue Bitcoin-backed financial instruments, preferred stock, convertible notes, and similar products, to fund continued accumulation. At scale, this creates a compounding accumulation engine that simpler models cannot match.
• The operating company with a Bitcoin treasury. A business with real revenue, real clients, and operational activity, which holds Bitcoin as a long-term reserve asset in deliberate strategic relationship with the business itself.

All three are legitimate expressions of the Bitcoin treasury thesis. They are not optimized for the same objectives, and the differences matter more than most treasury conversations acknowledge.

What pure-play gets right

The pure-play case deserves genuine treatment because its strongest version has real force.

Financial engineering pure-plays are capital-efficient in a specific and important sense: every dollar raised goes directly to Bitcoin accumulation with no operational drag. The mission is singular and the structure reflects it. For investors, this creates clarity. Allocators know exactly what they are underwriting, direct Bitcoin exposure at the corporate level, and the investment thesis is legible and short.

The digital credit model extends this further. Companies that have successfully issued preferred instruments and Bitcoin-backed products have built accumulation engines that operating businesses cannot match on a per-dollar-raised basis. The compounding effect of a sophisticated capital structure, at scale, is genuinely powerful. It represents the fullest expression of the Bitcoin treasury thesis, and the destination it points toward is one every operator in this space should understand.

The prerequisite problem and what it means in practice

The digital credit model has a prerequisite that is rarely stated plainly: it requires scale, institutional credibility, and market infrastructure that most companies building a Bitcoin treasury today do not yet have. It is a destination, not a starting point.

The path there runs through an intermediate period where the financial engineering structure carries more exposure than is often acknowledged. During that period:

• There is no operating revenue to fall back on
• The ability to raise capital tracks closely with Bitcoin market sentiment
• Strategic options narrow when conditions are not favorable
• The company’s cost structure depends entirely on capital markets remaining open

This is not a criticism of the model. It is a description of the journey. The question for executives is what structure best serves the company while that journey is underway.

What the operating company model actually provides

The operating company with a Bitcoin treasury does not accumulate Bitcoin faster than a well-run pure-play. At meaningful treasury scale, operating cash flow is not moving the needle on accumulation. The advantage is different, and worth stating precisely.

An operating business generates revenue independently of where Bitcoin is trading. That revenue covers fixed costs, which means the company is not dependent on capital markets remaining open to fund its basic operations. It can continue hiring, serving clients, and accumulating at a measured pace without being forced into capital decisions driven by timing rather than conviction.

The compounding effect works like this:

• Operating revenue covers costs and preserves the Bitcoin position through the cycle rather than drawing it down under pressure
• A preserved balance sheet improves the terms on future capital raises, lower dilution, better access to facilities, stronger negotiating position with partners
• Operational credibility widens the available capital base by providing an investment thesis that reaches allocators who cannot underwrite pure Bitcoin exposure within their current mandates

None of these mechanisms make Bitcoin accumulate faster in favorable conditions. Together, they make the company more durable across the full range of conditions it will face.

The built-in valuation floor

Most Bitcoin treasury company valuations are driven by a single number: mNAV, the premium the market assigns to Bitcoin held at the corporate level. When sentiment is strong and capital is flowing into the space, that premium expands. When the narrative cools, it compresses. The valuation moves with the market’s appetite for Bitcoin exposure, not with anything the company is doing operationally.

The operating company model introduces a second component that behaves differently. A profitable operating business carries an earnings multiple underwritten by revenue, client relationships, and operational track record. It does not expand dramatically when Bitcoin is performing. But it does not compress when sentiment turns either. It is stable in a way that mNAV alone is not.

These two components, Bitcoin NAV and an earnings multiple on the operating business, do not move together. That is the point. When mNAV compresses, the earnings multiple holds. The company retains a defensible valuation floor that a pure-play structure, with a single-component valuation entirely dependent on sentiment, does not have.

In practice this matters in three specific ways:

• Capital raises. A company with a defensible valuation floor can raise capital on reasonable terms even when Bitcoin sentiment is cold. A pure-play with a compressed mNAV and no earnings component has less room to maneuver.
• Talent. Equity compensation tied to a two-component valuation is a more legible and stable proposition for prospective hires than equity tied entirely to Bitcoin’s market sentiment.
• Allocator access. Many institutional allocators cannot underwrite a valuation built entirely on mNAV within their current mandates. The earnings component creates a bridge, opening the door to capital that would otherwise be unable to participate regardless of conviction.

The floor is not just a comfort during difficult conditions. It is a structural advantage that compounds over time, widening the capital base, strengthening the talent proposition, and maintaining strategic momentum across the full cycle.

How to think about the decision

These three models serve different objectives. The right framework starts with honest answers to a few questions:

• What does the existing business look like? A company with established revenue and clients already has the foundation for the operating company model. A company without it is choosing between building that foundation and committing to a pure-play path.
• What is the realistic path to scale? The digital credit model is the most powerful expression of the thesis but requires scale and credibility that takes time to build. The operating company model does not depend on reaching that threshold to function well.
• What does the investor base look like? Pure-play structures appeal most clearly to allocators who want direct Bitcoin exposure. Operating companies reach a broader set of capital partners, including those whose mandates require an operating business to participate.
• What kind of company do you want to be running across a full cycle? This is the question underneath all the others. The answer should drive the structure, not the other way around.

Conclusion

The companies that define the next era of corporate Bitcoin adoption will not all look the same. Digital credit issuers will operate at the frontier of Bitcoin-native capital markets. Financial engineering pure-plays will build toward that destination with focused conviction. Operating companies will build businesses where the treasury and core operations strengthen each other across the cycle.

Each model is a genuine expression of the thesis. The goal of this framework is to make the differences legible, so executives can choose the structure that fits what they are actually building, with clear eyes about what each model asks of them in return.

The question was never which model holds the most Bitcoin. It was always which model fits what you are trying to build.

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 The Bitcoin Treasury Model With a Built-In Valuation Floor first appeared on Bitcoin Magazine and is written by Nick Ward.

Bitcoin Magazine

How Real Is The Quantum Threat?

A new panel has officially been announced to take place at Bitcoin 2026 titled “How Real Is The Quantum Threat?” The conversation will bring together five voices at the center of one of the most actively debated technical questions in Bitcoin today, and the lineup reflects the full range of perspectives the topic demands.

The panel features:

Hunter Beast, a senior protocol engineer for the Anduro sidechain platform incubated by MARA, is the co-author of BIP 360, a proposal that establishes a new Bitcoin wallet address type designed to protect the network from quantum computing threats. BIP 360 was merged into the Bitcoin Core BIP repository in February 2026 and was deployed on the Bitcoin Quantum Testnet v0.3.0 in March, marking significant advancements towards upgrading Bitcoin.

James O’Beirne has been a Bitcoin Core contributor since 2015 and leads multiple projects including OP_VAULT (BIP-345) and assumeutxo, having previously worked at Chaincode Labs.

Brandon Black is a Bitcoin software engineer who has spoken publicly on why quantum computing timelines are often misunderstood by the broader market.

Charles Edwards of Capriole has argued that quantum computing is advancing faster than anticipated and has advocated for a 2026 BIP-360 implementation.

Alex Thorn, head of research at Galaxy Digital, has taken a more measured position arguing the quantum threat to Bitcoin is real but limited today, affecting only certain exposed wallets, and that developers are actively building pathways to address it over time.

The panel will cover one of the most actively discussed technical topics in Bitcoin today — how quantum computing is developing, where Bitcoin’s cryptography stands, and what the path to long-term protocol resilience looks like. Developers are already working on multiple solutions, including quantum-resistant addresses and phased upgrade proposals, and this panel brings together some of the brightest minds working on these upgrades. It takes place April 29 on the Nakamoto Stage at Bitcoin 2026, The Venetian Resort, Las Vegas.

Bitcoin 2026 is Returning to Las Vegas

Bitcoin 2026 will take place April 27–29 at The Venetian, Las Vegas, and is expected to be the biggest Bitcoin event of the year.

Focused on the future of money, Bitcoin 2026 will bring together Bitcoin builders, investors, miners, policymakers, technologists, and newcomers from around the world. The event will feature a wide range of pass types, including general admission passes designed specifically for those new to Bitcoin, alongside premium passes for professionals, enterprises, and institutions.

With multiple stages, immersive experiences, technical workshops, and headline keynotes, Bitcoin 2026 is designed to serve both first-time attendees and long-time Bitcoiners shaping the next era of global adoption.

Past Bitcoin Conferences in the U.S.

Bitcoin’s flagship conference has scaled dramatically over the past five years:

• 2021 – Miami: 11,000 attendees
• 2022 – Miami: 26,000 attendees
• 2023 – Miami: 15,000 attendees
• 2024 – Nashville: 22,000 attendees
• 2025 – Las Vegas: 35,000 attendees

Get Your Bitcoin 2026 Pass

Bitcoin Magazine readers can save 10% on Bitcoin 2026 tickets using code ‘ARTICLE10‘ at checkout.

Stay at The official hotel of Bitcoin 2026, The Venetian, and get a guaranteed low rate plus 15% off your pass. Be in the middle of where the fun is all happening, and where the networking never ends.

And don’t forget:

Volunteer at Bitcoin 2026 and get Pro Pass access plus exclusive perks.

All students ages 13+ can apply for a Student Pass and get free general admission access to Bitcoin 2026.

Location: The Venetian, Las Vegas
Dates: April 27–29, 2026

For more information and exclusive offers, visit the Bitcoin Conference on X here.

Why Attend Bitcoin 2026?

Bitcoin 2026 is the definitive gathering for anyone serious about the future of money. With 500+ speakers, multiple world-class stages, and programming spanning Bitcoin fundamentals, open-source development, enterprise adoption, mining, energy, AI, policy, and culture, the conference brings every corner of the Bitcoin ecosystem together under one roof.

From headline keynotes on the Nakamoto Stage to deep technical sessions for builders, institutional strategy discussions for enterprises, and beginner-friendly Bitcoin 101 education, Bitcoin 2026 is designed for everyone—from first-time attendees to the leaders shaping Bitcoin’s global adoption.

Whether you’re looking to learn, build, invest, network, or influence, Bitcoin 2026 is where Bitcoin’s next chapter is written.

Bitcoin 2026 Pass Types: Something for Everyone

Bitcoin 2026 offers a range of pass options designed to meet the needs of newcomers, professionals, enterprises, and high-net-worth Bitcoiners alike.

Bitcoin 2026 General Admission Pass

Ideal for newcomers and those looking to experience the heart of the conference.

• Limited access on Days 2 & 3
• Entry to Main Stage
• Access to Genesis Stage
• Full access to the Expo Hall

Bitcoin 2026 Pro Pass

Designed for professionals, operators, and serious Bitcoin participants.

Includes all General Admission features, plus:

• Full 3-day access, including Pro Day
• Entry to the Pro Pass Reception
• Access to Enterprise Hall, Enterprise Stage, and Networking Lounge
• Conference App networking features
• Access to the Bitcoin For Corporations Symposium
• Entry to Compute Village and Energy Stage
• Complimentary lunch, coffee, tea, and snacks
• Dedicated registration and check-in
• Reserved seating at Main Stage
• Huge savings when you bundle your hotel and Pro Pass

Bitcoin 2026 Whale Pass

The all-inclusive, premium Bitcoin 2026 experience.

Includes all Pro Pass features, plus:

• Reserved seating at Main Stage
• All-inclusive gourmet food and beverages
• Entry to Whale Night and Whale Reception
• Access to all official after-parties
• Networking app access to connect with other Whales
• Premium access to The Deep — an exclusive networking lounge with intimate speaker sessions
• Complimentary stay at The Venetian when you bundle your whale pass and hotel (use promo code ‘WHALEHOTEL’ here)

This is the most immersive way to experience Bitcoin 2026.

Bitcoin 2026 After Hours Pass

Your ticket to the night.

Most deals are done with a drink in your hand. Get exclusive access to 3 official Bitcoin 2026 after-parties across Las Vegas — each with a 2-hour open bar — where the real conversations happen and the best connections are made.

• Access to 3 official Bitcoin 2026 after-parties
• 2-hour open bar at each event
• Evening events across Las Vegas, April 27–29
• Network with Bitcoiners, builders, and industry leaders after hours

More headline speaker announcements are coming soon.

Don’t miss Bitcoin 2026.

This post How Real Is The Quantum Threat? first appeared on Bitcoin Magazine and is written by Jenna Montgomery.

Bitcoin Magazine

MARA Conducts Ongoing Layoffs Following $1.1B Bitcoin Sale and Debt Reduction Push

Bitcoin miner MARA Holdings has begun a series of company-wide layoffs affecting multiple departments, according to reporting from Blockspace Media, marking the latest shift in the firm’s broader restructuring strategy.

Sources familiar with the matter said the layoffs have been “ongoing” and executed in a piecemeal fashion, with at least two rounds taking place this week on Wednesday and Thursday. The total number of employees impacted — as well as the percentage of the workforce affected — has not been disclosed, and the company has not publicly commented on the cuts.

The workforce reduction comes just days after MARA completed a major balance sheet restructuring that involved selling 15,133 bitcoin for approximately $1.1 billion between March 4 and March 25. The proceeds were used to repurchase portions of its outstanding 0.00% convertible senior notes due in 2030 and 2031, allowing the company to retire debt at an average discount of roughly 9% to par.

In total, MARA repurchased $367.5 million of its 2030 notes for $322.9 million and $633.4 million of its 2031 notes for $589.9 million. The transactions are expected to generate approximately $88.1 million in cash savings and reduce the company’s total convertible debt by about 30%, from roughly $3.3 billion to $2.3 billion.

Following the repurchases, MARA now has $632.5 million in 2030 notes and $291.6 million in 2031 notes remaining outstanding. Other tranches of convertible debt — including $48.1 million due in 2026, $300 million due in 2031, and $1.025 billion due in 2032 — remain unchanged.

CEO Fred Thiel previously framed the bitcoin sale as part of a deliberate capital allocation strategy aimed at strengthening the company’s balance sheet while preserving long-term shareholder value. He said the move would improve financial flexibility and position the firm for expansion beyond traditional bitcoin mining.

Bitcoin miners are pivoting to AI 

That expansion includes a growing focus on artificial intelligence and high-performance computing (HPC), areas where MARA is seeking to leverage its expertise in energy infrastructure and data center operations. The company has increasingly positioned itself as a digital energy and compute provider, rather than a pure-play bitcoin miner.

As part of this shift, MARA has also signaled that selling bitcoin could become a recurring element of its treasury strategy. The company stated it plans to sell BTC “from time to time” throughout 2026 to support liquidity needs and fund corporate initiatives.

The developments come amid a challenging environment for bitcoin miners, who are navigating tighter margins, rising competition, and increasing pressure to diversify revenue streams beyond block rewards. 

For MARA, the combination of debt reduction, bitcoin sales, and workforce cuts signals a company in transition — prioritizing balance sheet strength and strategic repositioning as it moves deeper into AI and energy infrastructure.

This post MARA Conducts Ongoing Layoffs Following $1.1B Bitcoin Sale and Debt Reduction Push first appeared on Bitcoin Magazine and is written by Micah Zimmerman.

Stablecoin issuer Circle is facing mounting scrutiny from blockchain researchers after millions of USD Coin (USDC) were stolen and flowed unimpeded through its proprietary bridge during the $285 million exploit of the Solana-based Drift Protocol.

The inaction during the April 1 attack, which is now the largest decentralized finance (DeFi) hack of 2026, stands in stark contrast to Circle’s aggressive asset freeze tied to a sealed US civil case just days prior.

This juxtaposition has reignited debate over the responsibilities and inconsistencies of centralized stablecoin issuers operating within permissionless markets.

According to on-chain investigator ZachXBT, the attackers bridged more than $230 million in USDC from Solana to Ethereum across over 100 transactions using Circle’s Cross-Chain Transfer Protocol (CCTP).

Why this matters: The episode highlights a structural tension in crypto markets: stablecoins like USDC operate inside permissionless systems but retain centralized control. When that control is applied inconsistently, it raises new risks for users, protocols, and regulators trying to understand where intervention will, or will not, occur during a crisis.

The transfers occurred over several hours during the US business day, giving the New York-headquartered issuer ample time to intervene.

This view was corroborated by other security experts, who noted that the attacker held stolen USDC across multiple wallets for one to three hours before bridging to Ethereum.

The hacker notably avoided converting the funds to Tether's USDT, suggesting a calculated bet that Circle would not deploy its smart-contract blacklist authority.

That bet paid off because USDT is the largest stablecoin by market capitalization, and its issuer is renowned for blacklisting malicious attackers using its asset to shift funds.

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Nov 10, 2022 · Oluwapelumi Adejumo

The civil contrast

The timing of the exploit has intensified the backlash. On March 23, Circle froze the USDC balances of 16 unrelated corporate hot wallets and disrupted legitimate exchanges, casinos, and payment processors in response to a civil dispute.

ZachXBT previously characterized that action as “potentially the single most incompetent” freeze he had witnessed in five years.

Critics are now asking a fundamental question: If Circle claims the authority to freeze assets to enforce compliance, why does it apply that power aggressively against legitimate businesses while ignoring a confirmed, nine-figure heist transiting its own infrastructure?

However, Santisa, the pseudonymous CIO of investment firm Lucidity Cap, argued the opposite. He stated:

“Circle not blacklisting is actually quite cypherpunk of them, no matter the reason. The industry pushing for active blacklisting puts us ever further away from decentralisation — not necessarily a bad thing! Just a trade-off.”

To date, Circle has blacklisted roughly $117 million across 601 wallets, according to Dune Analytics data, showing that the capability exists.

Anatomy of the Drift exploit

The attack on Drift, previously the cornerstone of Solana’s DeFi ecosystem with over $550 million in Total Value Locked (TVL), was a highly sophisticated, weeks-long operation.

According to Drift Protocol’s post-mortem, the attackers compromised the protocol's Security Council.

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Aug 19, 2024 · Oluwapelumi Adejumo

On March 30, they exploited a mechanism known as a “Durable Nonce” to quietly gain necessary multisig approvals.

The durable nonce is a tool designed to keep unconfirmed transactions valid indefinitely for offline approvals. Yu Xian, the founder of blockchain security firm Slowmist, said:

“Another encounter with the durable nonce offline pre-signature mechanism exploit. This phishing technique has been prevalent for at least 2 years. Once such a signature is phished away, the attacker can initiate “legally signed” on-chain operations at a future opportune moment—for instance, in the Drift scenario, it resulted in the takeover of its on-chain admin privileges.”

On April 1, the attackers shifted admin authority, initialized a fake asset called CVT, artificially inflated its value via oracle manipulation, and borrowed against the false collateral.

In short order, they drained the JLP Delta Neutral, SOL Super Staking, and BTC Super Staking vaults. DefiLlama data shows Drift’s TVL collapsed to under $250 million following the attack.

The fallout has spread rapidly across the Solana DeFi ecosystem, considering Drift's prominent role.

According to reports, at least 20 third-party applications that relied on Drift's vaults to generate yield have confirmed financial impact, including Prime Numbers Fi, which estimates losses exceeding $10 million.

Who is behind the attack?

While the identity of the attackers remains unknown as of press time, Drift stated on X that it had identified critical information about the parties involved in the exploit.

Meanwhile, security experts have noted that the sophisticated laundering methodology points to a familiar adversary of North Korean attackers.

Blockchain intelligence firm Elliptic reported that the on-chain behavior and network-level indicators align with operations conducted by the Democratic People's Republic of Korea (DPRK).

Another blockchain security firm, Diverg, further stated:

“We can confirm along with TRM Labs and Elliptic that North Korea's Lazarus Group (TraderTraitor) [was behind the Drift attac]. [The] same unit [was] behind Bybit's $1.5 billion hack [and] Ronin's $625 million attack.”

If confirmed, the Drift exploit would mark the eighteenth DPRK-linked crypto theft this year, pushing the regime's 2026 illicit haul past $300 million.

It arrives amid an escalation in state-sponsored attacks targeting crypto infrastructure, including a recent software supply chain compromise attributed by Google to the North Korean threat actor UNC1069.

The post Circle under fire as $230M in stolen USDC flows unblocked days after freezing legitimate accounts appeared first on CryptoSlate.

Washington has escalated its fight with states over prediction markets, launching lawsuits that could decide whether these platforms operate as national financial products or state-regulated gambling. The outcome will determine if sports contracts can scale or get forced back into local licensing regimes.

On Apr. 2, the Commodity Futures Trading Commission (CFTC) sued Arizona, Connecticut, and Illinois, with the Department of Justice as a litigation partner.

The regulator demanded expedited rulings that federal derivatives law preempts state efforts to classify event contracts as illegal gambling.

Washington moved to the offensive, trying to establish, as a matter of national market structure, that these products belong under exclusive federal jurisdiction.

Why this matters: This is no longer a niche regulatory dispute. The CFTC is asking courts to confirm that once an event contract is listed on a federally regulated exchange, states lose the ability to shut it down as gambling. If that argument holds, prediction markets become a national product category. If it fails, operators face a fragmented system where their most valuable contracts, especially sports, must comply with dozens of state regimes.

The CFTC's published FAQ makes the ambition explicit. The suits are registrant-agnostic, deliberately detached from any individual company's fact pattern so that courts can rule on the preemptive scope of the Commodity Exchange Act itself.

Washington wants category-wide declarations on CEA preemption, binding regardless of which operator or exchange triggers enforcement.

The CEA's exclusive jurisdiction provision is the lever.

The CFTC's theory holds that once an event contract is listed on a CFTC-regulated exchange, states cannot relabel it as unlawful gambling without destabilizing the uniform national derivatives framework, potentially opening the door for states to assert authority over other exchange-traded derivatives that have operated without controversy for decades.

That framing becomes sharper against the legal map heading into April.

Massachusetts had secured an injunction against Kalshi's sports contracts, and Nevada won a temporary block on Mar. 20. Arizona escalated to criminal charges on Mar. 17. Tennessee produced an early ruling in Kalshi's favor. A 39-state-and-DC coalition filed amicus briefs backing Nevada.

The prediction market category was surviving on patchwork, while the CFTC played defense from the sidelines.

Related Reading

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A national fight is now underway over whether sports prediction markets are federally regulated derivatives or unlicensed gambling platforms. The answer could determine not just who regulates them, but whether their current growth model survives at all.

Mar 28, 2026 · Andjela Radmilac

Sports as the fault line

Sports contracts are where the category stops looking like abstract forecasting and starts colliding with the full compliance architecture states built since the Supreme Court's 2018 Murphy decision. The structure consists of licensing, age verification, KYC and AML protocols, self-exclusion databases, suspicious-wager reporting, and integrity monitoring.

Illinois told the CFTC that these platforms entirely bypass its licensing, responsible-gaming, AML, and tax regimes. Connecticut pointed to under-21 access that no licensed operator could legally offer.

The American Gaming Association translated those gaps into fiscal terms, claiming that sports bets on prediction markets have cost states more than $620 million in lost gaming taxes since the start of 2025.

The advocacy estimate converts legal theory into budget politics at a moment when the US sports betting revenue, which reached $1.61 billion in January 2026 alone, shows a market with year-over-year handle declines and incumbents with clear motivation to fight back.

The leagues arrived as actors with a concrete grievance and a clear agenda.

The NBA said sports prediction markets were expanding into single-game contracts through self-certification, without anything resembling the oversight framework states require of licensed sportsbooks.

MLB pressed the same argument directly with the CFTC. On Mar. 19, the agency signed a memorandum of understanding with the league, establishing the first formal agency-league information-sharing channel around baseball-related contracts.

That MOU is both a practical integrity measure and an acknowledgment that the current framework carries a meaningful gap that the litigation leaves open.

The regulator's internal contradiction

The CFTC is simultaneously trying to lock states out of the lane and build the public record that the lane requires far tighter policing.

On Feb. 4, Chairman Brian Quintenz withdrew a prior event-contract rulemaking proposal and an earlier sports advisory, framing the move as a permissive opening for the category. Within weeks, the agency moved in the opposite direction on nearly every other front.

On Feb. 25, the CFTC publicly described two Kalshi-related misuse-of-nonpublic-information cases, imposed penalties and multi-year suspensions, and stated that insider trading, wash trading, fraud, and manipulation rules fully apply to prediction markets.

On Mar. 31, enforcement chief David Miller said insider trading is “potentially happening” in these markets, citing injury-related and person-specific contracts as obvious integrity risks.

On Mar. 12, a staff advisory directed designated contract markets to consider league integrity standards, restricted-participant lists, and cooperation with league investigations. On the same day, the agency opened an advance notice of proposed rulemaking seeking input on which event-contract types may run contrary to the public interest.

Congress arrived in the same space on Mar. 23, when Senators Adam Schiff and John Curtis introduced the Prediction Markets Are Gambling Act, targeting contracts that resemble sports bets or casino-style games on CFTC-registered platforms.

The fight now runs in three venues at once: state courts, federal courts, and the Senate.

In the bull case, Washington's suits in Illinois and Connecticut produce fast rulings endorsing the preemption theory, and a federal circuit affirms that the CEA displaces state gambling law for exchange-listed event contracts.

States lose the tools to block platform expansion, and the Schiff-Curtis bill stalls. Prediction market operators build sports offerings under a federal compliance wrapper consisting of league MOUs, restricted-participant lists, and whatever tighter rulebook emerges from the CFTC's ANPRM process.

The category survives in sports as a regulated national market with a heavier obligation stack than operators currently carry. Developer incentives skew toward exchanges already holding CFTC registration rather than new entrants, compressing the number of platforms that can realistically compete.

In the bear case, state-favorable reasoning from Nevada and Massachusetts spreads at the appellate level.

Courts find that Murphy-era state sports-betting frameworks constitute the kind of traditional police power that federal preemption cannot readily displace.

Congress advances a carveout that pushes platforms listing sports contracts into state licensing processes. Political, macro, and business-event contracts, categories without a natural state-regulatory home, clear the bar more easily, while sports-adjacent contracts migrate toward the same licensing, tax, and integrity regime as conventional sportsbooks.

Operators who built their growth story around sports face a product retreat or a compliance restructuring that they did not price into their models.

The federal bet

Washington is wagering that “listed on a CFTC-regulated exchange” is the decisive jurisdictional fact that overrides states' classifications of the underlying contract.

The courts' acceptance of that wager will determine if prediction markets become a genuinely national product category or a nationally marketed product that still has to negotiate dozens of licensing regimes for its most commercially valuable contracts.

The CFTC's own calendar compresses the timeline, as the ANPRM closes Apr. 30.

The agency expects expedited resolution in Connecticut and Illinois within a few months, and a preliminary injunction ruling in Arizona is due within weeks.

By mid-2026, federal preemption power over event contracts will have a legal foundation or a legal ceiling.

The post CFTC sues 3 states in bid to redefine crypto prediction markets as federal products appeared first on CryptoSlate.

SpaceX is moving toward a public listing that could redefine how Bitcoin shows up in equity markets. The scale of the IPO matters more than the size of its holdings.

SpaceX has reportedly filed confidentially for an initial public offering with the US Securities and Exchange Commission (SEC), a step that would move Elon Musk’s rocket and satellite company closer to what could become the largest stock market debut in US history.

According to reports, the firm is looking to raise as much as $75 billion at a valuation of about $2 trillion, with a listing as early as June. This would put it more than three times above the largest US IPO to date.

At that level, the IPO would also make the company one of the top 10 global companies by market capitalization.

Why this matters: This would mark a shift in how Bitcoin enters public markets. Until now, exposure has largely come through companies built around holding the asset. A SpaceX listing would introduce Bitcoin into one of the world’s largest industrial and infrastructure businesses, changing the context in which investors encounter it.

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Launched in 2022, SpaceX sits at the intersection of commercial space, communications, defense, and infrastructure.

Over the past years, the firm has grown to become the dominant force in commercial launches, NASA’s leading launch partner, and the operator of Starlink, the satellite broadband network that has become central to its broader valuation.

That would give investors exposure to a business with far broader foundations than most recent market debuts.

The most valuable public company with Bitcoin

Apart from the size of the deal, a SpaceX listing could create the most valuable listed company with Bitcoin on its balance sheet.

Data from BitcoinTreasuries.com show the company is holding 8,285 Bitcoin, valued at $569.5 million on its balance sheet. The firm is currently the fourth-largest private corporate holder of BTC.

If SpaceX’s public filings confirm these holdings, the firm would overtake another Musk-led company, Tesla, on that measure. Tesla currently holds more than 11,000 Bitcoin and remains the highest-value public company known to own the token. The automaker is currently valued at $1.37 trillion.

With a planned valuation of $2 trillion, SpaceX would move past Tesla in market value even while holding fewer coins.

Over the past year, the market has seen an avalanche of public firms introducing Bitcoin to their balance sheet. This is a model popularized by Michael Saylor's Strategy, which is currently the largest public corporate Bitcoin holder with 762,099 Bitcoin.

However, SpaceX's stock would not trade like that of Strategy or other Bitcoin holding companies.

Strategy’s equity model is built around Bitcoin accumulation, capital raising, and the token’s price. SpaceX would come public as a launch, satellite, and defense business that happens to own Bitcoin.

The numbers make that clear. SpaceX’s reported Bitcoin stash is worth roughly $569.5 million, which translates to less than 0.03% of its $2 trillion valuation.

Such a valuation is too low to make the stock a Bitcoin proxy. However, it is large enough to become part of the company’s public identity.

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Would retail investors gain from the IPO?

The answer is likely yes, but mostly because of what SpaceX is, not because of the Bitcoin on its balance sheet.

Reports indicate that retail investors would get meaningful exposure to the IPO, with allocations of up to 30% of shares and potentially without the standard six-month lock-up.

If that structure holds, it would give ordinary investors access to one of the world’s most sought-after private companies on unusually favorable terms for a deal of this size.

That retail angle would help demand, and the Bitcoin connection would add another layer of interest, particularly among crypto investors who already follow Musk, Tesla, and treasury-holding companies closely.

But the core draw would be elsewhere. Investors would be buying into the dominant launch franchise in commercial space, the Starlink network, and a company whose position reaches into defense and communications.

The stock would appeal because of its scale, strategic relevance, and scarcity value, not because 8,285 Bitcoin sit somewhere on the balance sheet.

The post SpaceX IPO would eclipse Tesla in market value while holding less Bitcoin — challenging the idea of a Bitcoin proxy appeared first on CryptoSlate.

The Cardano Foundation is becoming less dependent on ADA. Its latest report shows Bitcoin and cash now account for a much larger share of reserves after a year of sharp price divergence.

That shift changes how closely the Foundation’s balance sheet tracks the performance of Cardano’s native token.

In its 2025 Activity and Financial Insights Report shared with CryptoSlate, the Foundation said its total assets stood at 287.5 million Swiss francs, or about $361 million. This represents a 45% decline from the $659.1 million assets it held as of the end of 2024.

The drop in headline value reflected a difficult year for Cardano’s native token, ADA, but the more notable shift came in the composition of the Foundation’s holdings.

Why this matters: The Foundation has historically been one of the largest long-term holders of ADA, so changes to its treasury structure affect the degree of internal alignment between Cardano’s ecosystem and its core institution. A lower ADA concentration reduces direct exposure to the token’s price but also weakens the feedback loop linking the Foundation’s balance sheet to ADA’s performance.

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A year earlier, the Foundation said 76.7% of its assets were held in ADA, 14.9% in Bitcoin, and 8.3% in cash, cash equivalents, and financial assets.

However, by the end of 2025, ADA’s share had fallen to about 51.6%, while BTC rose to 25.5%, and cash, cash equivalents, and financial assets climbed to 22.9%.

On that basis, the Foundation’s holdings worked out to roughly $186 million in ADA, $92 million in Bitcoin, and $83 million in cash and financial assets.

This essentially means that the Cardano-focused organization's asset was no longer as concentrated in ADA as it had been a year earlier. Now, nearly half of the balance sheet was tied to Bitcoin, cash, and other financial assets.

How Bitcoin gained a foothold in Cardano's Foundation assets

Bitcoin’s greater role in the portfolio did not stem from an increase in the Foundation’s BTC holdings.

In fact, the report showed that the Foundation significantly reduced its BTC holdings last year, down 37% to 656 BTC from 1,054 BTC a year earlier.

That means BTC's increased share of the treasury was driven by relative performance and a broader reshaping of reserves, rather than by an outright accumulation of more BTC.

Market moves help explain the change. Data from CryptoSlate showed that ADA has fallen by roughly 63% over the past year, while Bitcoin has shown more resilience, declining by around 25%.

That divergence meant BTC did not need to rise in absolute terms to claim a larger place in the Foundation’s holdings. Instead, the top crypto's greater resilience during the bear market helped it gain a stronger footing.

Meanwhile, the report also suggests the treasury was becoming more layered, with the Foundation finding more use cases for BTC and also expanding its cash holdings.

The Foundation said part of its Bitcoin allocation was invested in loans and collective investment schemes during 2025.

At the same time, its financial assets, including loans to third parties, investments, and shares, rose to 43.9 million Swiss francs (around $54.9 million) from 14.3 million Swiss francs (equivalent to $17.8 million) a year earlier.

Additionally, the organization's cash and cash equivalents stood at 20.1 million Swiss francs, or $25.1 million.

Taken together, those figures show a reserve base moving beyond a straightforward ADA-and-bitcoin treasury into something more diversified and more actively managed.

Spending priorities shift

The change in portfolio mix was matched by a clearer reset in how the Foundation spent money in 2025.

The report said 23.6 million Swiss francs (equivalent to $29.5 million) was allocated across three strategic pillars, including technology, adoption, and governance.

Technology accounted for the largest share at 40.3%, or 9.5 million francs. Adoption followed at 39.6%, or 9.3 million francs, while governance spending represented 20.1%, or 4.8 million francs.

That marked a change from 2024, when the foundation grouped its work under adoption, operational resilience, and education. The new structure gives a sharper picture of where resources are now being directed and how the Foundation sees Cardano’s next phase.

Technology spending centered on protocol enablement, developer tooling, node diversity, interoperability frameworks, oracle infrastructure, and operational resilience.

The Foundation said it also increased its focus on community initiatives to improve liquidity and adoption in decentralized finance. At the same time, it expanded its Web3 adoption team with an emphasis on integrations, listings, and real-world asset efforts.

A significant part of the technology and adoption story was tied to digital identity. In 2025, the foundation launched Veridian, a privacy-preserving identity platform designed to let organizations issue and verify digital credentials anchored on Cardano.

Meanwhile, adoption spending covered enterprise solutions, identity and traceability systems, regulatory collaboration, education, and ecosystem partnerships.

The report said the foundation made Originate available as an open-source traceability solution, advanced the Reeve platform through internal use and its first enterprise proof of concept, and pushed Veridian into wider deployment, including a white-label rollout for the United Nations Development Program and the launch of the Veridian Wallet.

The Cardano Academy also expanded through new courses, distribution partnerships, and multilingual deployment. The Foundation said course material was extended to Binance Academy, which it said reaches more than 44 million learners, while collaborations also included the Blockchain Research Institute and Coursera.

Lastly, governance took a smaller share of the budget than technology and adoption, but it remained central to the Foundation’s 2025 agenda as Cardano deepened its commitment to decentralized decision-making.

The report highlighted support for the largest on-chain budget submitted so far on Cardano, resulting in 38 separate treasury withdrawal governance actions. It also pointed to the Foundation’s enterprise membership in Intersect and its work across committees tied to civics, budget, technical matters, product, open-source enablement, marketing, and oversight.

That participation fed into a series of initiatives, including work on the constitutional process, the Cardano 2030 vision and strategy, the Cardano Summit 2025 proposal, and the Cardano 2026 budget process.

The Foundation also said it supported tools aimed at widening participation in governance, including the open-source Cardano Voting Tool, a Proposal Examiner built with Griffin AI, updated governance documentation, and dedicated sessions at Cardano Summit 2025.

The foundation’s DRep Delegation Program distributed 140 million ADA to seven builder DReps, with a further 220 million ADA allocation to adoption and operational DReps announced. It also published the Constitutional Committee’s cold keys and expanded internal frameworks for delegation and elections as the governance transition continued.

2026 will test whether the reset works

The next question is whether the Foundation’s repositioning can translate into a stronger operating story for Cardano itself.

Frederik Gregaard, the Foundation's chief executive, said the organization's focus in 2026 would remain on technology, governance, and enterprise and institutional adoption.

He said the group would continue working to strengthen Cardano’s role in real-world asset infrastructure, support the expansion of stablecoin markets and DeFi liquidity, and build the open-source tooling needed for broader adoption.

Notably, this aligns with the blockchain network's recent efforts to integrate the Pyth network, LayerZero, and Circle's USDCx stablecoin. All of these efforts are geared towards expanding Cardano's DeFi ecosystem and stablecoin supply to attract institutional support.

That leaves Cardano facing a clearer test in 2026 to determine if a more diversified balance sheet, combined with heavier spending on infrastructure, governance, and adoption, can help stabilize the economics around ADA itself.

The post Cardano Foundation shifts away from ADA as Bitcoin and cash take larger share of reserves appeared first on CryptoSlate.

On Apr. 2, Coinbase received conditional approval from the Office of the Comptroller of the Currency for a national trust charter.

Coinbase joined a cluster of at least eight firms that the OCC has moved toward federal trust-charter status since December 2025, and the cluster reveals a deliberate federal decision about which parts of crypto belong inside the supervised system.

Why this matters: The US is shifting from regulating crypto to selecting which parts of the stack sit inside the banking perimeter. That decision defines who can scale nationally, who captures institutional flows, and who remains outside the system.

The OCC conditionally approved Circle, Ripple, BitGo, Fidelity, and Paxos on Dec. 12, 2025. Bridge followed in February, Crypto.com in February, and Coinbase in April.

Eight approvals in roughly four months, all clustered around custody, reserve management, stablecoin infrastructure, and settlement. That density reframes the Coinbase headline as a data point in a federal design decision.

A national trust charter gives firms federal reach under a single OCC supervisor, allowing them to operate across all 50 states without having to assemble a patchwork of state approvals.

National trust banks hold client assets and facilitate settlement under a fiduciary mandate, operating within a purpose-built custody-and-settlement structure. The lane's practical value lies in scope and supervisory clarity: firms can hold client assets and handle settlement functions under a single federal framework.

Paxos explicitly framed its national trust push as a move beyond its New York state trust structure, and that framing reveals an architectural logic.

The functions Washington is comfortable supervising

The approvals cluster around custody, reserves, and settlement because that is where the OCC's comfort level currently sits.

Reports noted that Crypto.com's charter would cover client asset management and trade settlement, keeping the firm within custody and settlement functions. Bridge's approval covered stablecoin issuance and orchestration, as well as reserve management.

The OCC's Circle decision described digital-asset custody and reserve-management services tied to its fiduciary activities. Coinbase said full approval could support tokenized securities and stablecoins.

Washington is drawing a perimeter around the functions tokenized finance needs most, such as asset custody, stablecoin reserve backing, and settlement infrastructure, and extending supervisory authority over firms that provide them.

The firms best positioned in this environment are custodians, reserve managers, and stablecoin infrastructure operators.

Adjacent regulatory moves reinforce that reading. In March 2026, US bank regulators said tokenized securities would not face additional capital charges purely for being tokenized, calling the framework technology-neutral.

The SEC allowed intraday trading of tokenized shares of the WisdomTree money-market fund, approved Nasdaq's tokenized trading proposal, and cleared NYSE's tokenized securities partnership with Securitize.

The OCC charter wave and the tokenization rule stack are moving in tandem, with institutional infrastructure as the common thread.

VISUAL 2

The re-intermediation arc

Crypto's original commercial promise was removing the regulated intermediaries that traditional finance required.

The practical outcome of the OCC cluster is re-intermediation: the most commercially durable crypto firms are now competing to become a new class of regulated intermediaries. Tokenized finance needs custodians, reserve managers, and settlement rails before it needs another trading venue with more listed assets.

Capital is already pricing that reality. Mastercard agreed to buy BVNK, a stablecoin infrastructure firm, for up to $1.8 billion. OpenFX raised $94 million and reported annualized payment volume climbing from $4 billion to $45 billion in a year, with over 98% of transactions settling in under 60 minutes.

The global stablecoin market stood at over $310 billion in February 2026. These are backend-plumbing bets, concentrated in custody, settlement, and reserve management.

The competitive map is also narrowing. Anchorage is currently the only digital asset company operating under a full national trust bank charter. The December cluster and subsequent approvals are conditional or preliminary.

Getting to the final operating status requires demonstrating capital adequacy, governance, and operational controls to OCC examiners. This bar will compress the field toward well-capitalized incumbents with existing compliance infrastructure.

Two paths forward

In the bull case, the OCC finalizes its stablecoin implementation in terms that institutions can operationalize.

Tokenized securities pilots on Nasdaq and NYSE move from proof-of-concept to live settlement infrastructure, while firms like Mastercard accelerate the adoption of stablecoin rails across global payment corridors.

If stablecoins approach Standard Chartered's $2 trillion forecast by 2028 and tokenized real-world assets reach comparable scale, federally supervised crypto utilities become the scarce picks-and-shovels of digital finance.

The OCC's chartered custodians and reserve managers collect margin on trillions of dollars in assets that flow through the infrastructure they control.

In the bear case, final approvals move slowly as bank trade groups press their “lighter-touch charter” objection, and the OCC responds by tightening conditions on reserve buffers, liquidity stress tests, and operational controls.

The stablecoin market tracks closer to JPMorgan's $500 billion by 2028 forecast, a ceiling anchored by the fact that payments account for only about 6% of current stablecoin demand, roughly $15 billion of the $310 billion outstanding.

In that world, state trust structures and bank partnerships stay practical, and the federal lane becomes a premium niche.

The federal bet

Washington is sorting crypto's functions into those it wants to supervise and those it does not, or at least not yet.

The charter cluster, the stablecoin reserve rules under the GENIUS Act, and the technology-neutral treatment of tokenized securities together form a regulated stack for crypto-native financial infrastructure.

The power the OCC is extending is real. Still, it carries supervisory costs: monthly public reserve disclosures for stablecoin issuers, weekly confidential reporting under the proposed implementation rule, and full OCC examination authority.

The firms that clear that bar will operate nationally under a single federal supervisor, hold institutional assets, and process tokenized settlements in a framework that traditional finance counterparties can use.

Those who cannot or choose not to will stay in the state-licensed layer, and the charter wave is starting to sort itself out.

The post Washington has started selecting which crypto firms control custody at a national level appeared first on CryptoSlate.

The first quarter of 2026 has concluded, leaving the cryptocurrency market in a state of significant reassessment. After a bullish end to 2025, the start of the year brought a harsh "risk-off" reality. Major assets, led by Bitcoin (BTC) and Ethereum (ETH), saw substantial drawdowns as investors grappled with a perfect storm of geopolitical conflict, surging energy costs, and a hawkish shift in global monetary policy.

Why did Crypto Crash in 2026?

If you are looking for the primary reason for the crash: Q1 2026 was defined by a liquidity drain. As Bitcoin fell 23%, capital fled volatile assets in favor of traditional safe havens. While the broader market bled, specific utility-driven tokens like Tron (TRX) and UNUS SED LEO (LEO) managed to defy the trend, posting gains of 10% and 4.6% respectively.

Q1 2026 Market Performance Overview

The following table summarizes the Year-to-Date (YTD) performance of the top cryptocurrencies as of the end of March 2026:

The Macroeconomic "Pressure Cooker"

To understand the Q1 crash, one must look at the "Macroeconomic Pressure Cooker." This refers to the simultaneous rise in inflation expectations and interest rates. In early 2026, the US Federal Reserve signaled that interest rates would remain "higher for longer" to combat a sticky 2.7% inflation rate. This strengthened the US Dollar, making riskier assets like Ethereum less attractive to institutional desks.

Crypto Crash Reasons

The downturn was accelerated by significant global events:

• Geopolitical Conflict: Escalating tensions in the Middle East—specifically involving Iran—reignited fears of a broader war. This uncertainty historically triggers a flight to quality.
• Oil Prices: Crude oil prices surged in Q1, with Brent crude hitting over $118/bbl. High energy prices act as a tax on the global economy and increase the operational costs for Bitcoin miners, often leading to "miner capitulation" sell-offs.
• The Gold & Silver Hedge: Unlike crypto, Gold posted steady gains of roughly 8% earlier in the quarter, reaching near-record levels as investors sought a store of value that doesn't rely on digital network uptime or speculative sentiment.

Why Altcoins Suffered More

While Bitcoin’s 23% drop was painful, Solana (SOL) and BNB were hit harder, losing 36% and 32% respectively. This is a classic "beta" move; altcoins typically amplify Bitcoin's movements. When liquidity dries up, speculative "high-growth" ecosystems are the first to see capital outflows. Investors moved their holdings from high-risk dApp platforms into stablecoins or exited the market entirely.

The Outliers — Tron and LEO

Why did Tron (+10%) and UNUS SED LEO (+4.6%) survive the carnage?

• Tron (TRX): Tron has solidified itself as the "Global Settlement Layer" for USDT. During a crash, the demand for stablecoin transfers spikes. As users move to safety, the burning of TRX for transaction fees increases, creating deflationary price pressure that supported the TRX price.
• UNUS SED LEO (LEO): As a utility token for the Bitfinex ecosystem, LEO benefits from a consistent buy-back and burn mechanism. In periods of high volatility, exchange-based tokens often act as a "defensive" play, as trading volumes (and thus burn rates) remain elevated.

Institutional Sentiment and ETF Outflows

The latest crypto news highlights that Bitcoin ETFs saw their first sustained period of net outflows in Q1 2026. Institutional investors, who were the primary drivers of the 2025 rally, shifted their focus to the S&P 500 and banking stocks, which showed more resilience during the "war-inflation" scare.

Crypto Markets Are Moving — But Something Is Missing

Over the past 24 hours, the crypto market has reacted to a wave of major geopolitical and macroeconomic developments. Rising tensions, escalating military actions, and a sharp surge in oil prices have already introduced volatility across Bitcoin and altcoins.

Yet despite all this, the overall market remains relatively stable.

Bitcoin is holding near the $66,000–$67,000 range, Ethereum is hovering around $2,000, and total crypto market capitalization remains largely flat.

👉 At first glance, this may seem like resilience.

👉 In reality, it signals something else: the market has not fully reacted yet.

Why the Real Move Hasn’t Started

The most important factor right now is simple:

👉 Wall Street is closed.

Due to the Good Friday holiday, U.S. stock markets are not trading. This means:

• Institutional investors are inactive
• ETFs are paused
• Large capital flows are temporarily frozen

At the same time, major developments are unfolding:

• Escalation in U.S.–Iran tensions
• Announcements targeting critical infrastructure
• Oil prices surging above key levels
• Gold behaving unexpectedly under pressure

👉 These events are happening without full market participation.

As a result, crypto is currently trading in a partial-information environment, where only retail and limited global flows are active.

Monday Is the Real Catalyst

👉 The U.S. market will reopen on Monday at 9:30 AM ET (3:30 PM Central European Time).

This moment could act as a major reset point for global markets.

Why?

Because all the news that broke during the market closure will be priced in simultaneously:

• Equity markets will react
• Oil markets will continue adjusting
• Institutional portfolios will rebalance
• Risk exposure will be reassessed

👉 In short: Monday is when the real repricing begins.

Why the Pressure Is Building

Markets are currently sitting in a fragile equilibrium.

On one side:

• Bullish crypto fundamentals (institutional adoption, regulatory progress)
• Bitcoin holding key levels

On the other:

• Rising oil prices tightening global liquidity
• Escalating geopolitical risk
• Uncertainty around further military actions

👉 This creates a compression phase — where price stays relatively stable while pressure builds underneath.

When markets reopen, that pressure is likely to release quickly.

How Big Could the Move Be?

Bearish Scenario (Higher Probability Short-Term)

If macro pressure dominates:

• Bitcoin could break below $66K, targeting $64K or lower
• Ethereum may lose the $2,000 level
• Altcoins could see sharper declines

👉 This would likely happen if:

• Oil continues rising
• War headlines intensify
• Equity markets open significantly lower

Bullish Scenario (Lower Probability but Possible)

If markets interpret the situation as contained:

• Bitcoin could push toward $68K–$70K
• Short squeezes could accelerate upside
• Risk appetite may temporarily return

👉 This would require:

• De-escalation signals
• Oil price stabilization or drop
• Strong dip-buying from institutions

Most Likely Outcome: Volatility First

Regardless of direction, one thing is highly likely:

👉 Volatility will expand sharply.

Expect:

• Fast moves in both directions
• Liquidations across leveraged positions
• Sudden reversals as markets search for direction

Oil Is Now Driving Crypto

One of the most important shifts in this cycle is clear:

👉 Crypto is no longer reacting only to crypto news.

Instead, it is increasingly tied to macro forces — especially energy markets.

As oil rises:

• Inflation expectations increase
• Central banks face pressure
• Liquidity tightens

👉 And when liquidity tightens, risk assets — including crypto — come under pressure.

This makes oil one of the key indicators to watch ahead of Monday.

What to Expect Until Then

Until Wall Street reopens:

• Markets may remain choppy
• Liquidity will stay relatively low
• Price movements may be misleading or incomplete

👉 The current market action is not the final move — it is the setup phase.

Conclusion: Crypto Is Waiting — But Not for Long

Crypto markets are currently reacting, but not fully.

The absence of institutional participation means that what we are seeing now is only a partial response to a much larger macro shift.

👉 Monday changes everything.

As global markets reopen, all delayed reactions will converge — creating the potential for a significant move across Bitcoin and the broader crypto market.

For investors, the key takeaway is simple:

👉 The real move hasn’t started yet — but it’s getting closer.

Coinbase has officially received conditional approval from the Office of the Comptroller of the Currency (OCC) to establish the Coinbase National Trust Company. This move brings the largest U.S. exchange under federal oversight, effectively bridging the gap between Silicon Valley innovation and Wall Street’s regulatory rigors.

Is Coinbase a Bank?

No. While the news is massive, Coinbase CEO Brian Armstrong clarified that the firm is not becoming a commercial bank. Instead, the national trust charter allows Coinbase to provide fiduciary services, asset custody, and investment management across the entire U.S. under a single federal framework, rather than navigating a patchwork of state-by-state licenses.

What Does the OCC Approval Actually Mean?

The Office of the Comptroller of the Currency (OCC) is the primary federal regulator for national banks and federal savings associations. By granting this charter, the OCC is allowing Coinbase to operate as a National Trust Bank.

• Federal Uniformity: Coinbase can now offer custody services nationwide with consistent federal standards.
• Institutional Magnet: Large-scale institutional investors, who are often wary of state-level regulations, now have a federally overseen partner for their digital assets.
• No Retail Deposits: Unlike a commercial bank, this trust cannot take retail demand deposits or engage in fractional reserve lending.

The Perfect Storm: Market Structure Bill and Fundamentals

This approval comes at a pivotal moment. The U.S. Congress is currently advancing the CLARITY Act and other market structure bills aimed at defining how digital assets are regulated. With Coinbase securing a seat at the federal banking table, the fundamental strength of the crypto market has arguably reached an all-time high.

Why This Could Trigger the Biggest Bull Run Yet

The entry of a federally chartered trust company within the Coinbase ecosystem acts as a "green light" for trillions of dollars in sidelined institutional capital. As the crypto market structure becomes more defined, the barriers for pension funds, sovereign wealth funds, and major insurance companies to hold $Bitcoin are effectively dissolving.

Institutional Custody and the Future of Payments

According to reports from Coinbase's institutional blog, the new charter will focus heavily on custody and settlement. As of late 2025, Coinbase already held over $370 billion in assets under custody. With this new federal status, that number is expected to skyrocket.

Furthermore, the charter lays the groundwork for advanced crypto payment rails. By working directly with the OCC, Coinbase intends to explore infrastructure products that allow for seamless, instant settlement of digital assets, potentially challenging traditional systems like SWIFT.

What Just Happened in the Markets?

Global markets surged after reports that Iran and Oman are working on a protocol to secure shipping through the Strait of Hormuz.

The reaction was immediate:

• Over $1.5 trillion added across US markets
• Nasdaq, S&P 500, and Dow all moved higher
• Risk sentiment briefly flipped bullish

👉 On the surface, this looks like the start of a recovery.

But crypto is telling a completely different story.

Crypto Is Not Following — And That’s the Warning

Despite the bullish backdrop:

• Bitcoin is still trading under pressure
• Ethereum and major altcoins continue to decline
• No strong follow-through from crypto markets

👉 This kind of divergence is rare — and important.

When crypto fails to react to good news, it often signals that something deeper is broken beneath the surface.

The Market Got Bullish News — A Lot of It

Over the past hours, several developments should have supported crypto:

• IMF signaling that tokenization could reshape global finance
• Coinbase gaining conditional approval for a US national trust charter
• $500 million USDC minted, signaling fresh liquidity entering the system
• Equity markets recovering sharply

👉 Under normal conditions, this would trigger a strong crypto bounce.

But it didn’t.

Why Crypto Is Ignoring the Rally

The answer lies in liquidity and macro pressure.

Even though headlines are turning positive, the underlying conditions remain tight:

• Oil prices are still above $110
• Global inflation risks remain elevated
• Central banks are unlikely to ease aggressively
• Capital is still cautious and selective

👉 In this environment, investors are not chasing risk — they are managing exposure.

Crypto, being the most sensitive risk asset, reacts first.

This Is a Classic Late-Stage Signal

Markets often behave like this near key turning points.

First:

• Equities bounce on headlines

Then:

• Crypto refuses to confirm

👉 That disconnect is a warning.

It suggests that the rally may be driven by short-term positioning, not real conviction.

What Smart Money Is Likely Doing

While retail reacts to headlines, institutions tend to act differently.

The signals suggest:

• Positioning into infrastructure (tokenization, custody, stablecoins)
• Preparing liquidity (USDC minting)
• Expanding regulatory positioning (Coinbase trust charter)

👉 This is accumulation — but not in a risk-on environment yet.

What Happens Next?

The market is now at a critical point.

Two scenarios can unfold:

Bullish Case:

• Oil drops
• Tensions ease further
• Crypto catches up to equities

Bearish Case:

• Oil stays high
• Geopolitical risk returns
• Crypto leads the next leg down

👉 Right now, crypto is leaning toward the second scenario.

Final Take: This Is Not Strength — It’s a Signal

Crypto is not lagging by accident.

It is reacting to real underlying conditions, not headlines.

👉 When markets rally but crypto doesn’t follow, it usually means one thing:

The risk isn’t gone — it’s just being ignored.

Bitcoin ($BTC) plummeted below the critical $66,000 threshold on April 2, 2026. This sudden downward movement has sent shockwaves through the derivatives market, resulting in the liquidation of over $251,940,000 worth of long positions within the last 24 hours.

Why is Bitcoin Dropping Today?

The current decline is fueled by a "perfect storm" of fundamental and technical factors. Reports indicate that rising geopolitical tensions in the Middle East and a hawkish shift in U.S. trade policy—specifically recent tariff announcements—have pushed investors toward a "risk-off" stance.

Furthermore, institutional demand through spot $Bitcoin ETFs has cooled significantly. Data shows net outflows exceeding $170 million in recent sessions, suggesting that the aggressive buying pressure seen in previous months is tapering off. This lack of immediate demand has left the market vulnerable to the "long squeeze" we are currently witnessing.

Bitcoin Price Analysis: Why is Bitcoin Down?

Analyzing the 4-hour chart of BTC/USD, several bearish signals are evident that traders should monitor closely.

1. The Descending Resistance Line

A prominent yellow trend line (descending resistance) has been capping Bitcoin's price action since mid-March. Every attempt to break above this line has been met with aggressive selling pressure. As of April 2, Bitcoin remains trapped beneath this diagonal resistance, currently situated near the $67,500 – $68,000 zone.

2. Immediate Support Levels

Bitcoin is currently testing a horizontal support zone identified on the chart at $65,581.

• Crucial Support: The $65,500 – $65,800 range is acting as the primary line of defense for bulls.
• Secondary Target: If $65,500 fails to hold, the next significant psychological and technical floor is at $63,000.

3. RSI and Momentum

The Relative Strength Index (RSI) is currently hovering around 38.02. This indicates that while the market is approaching "oversold" territory (typically below 30), there is still room for further downside before a relief bounce becomes a high-probability event. The momentum is clearly in favor of the bears in the short term.

Market Sentiment and Liquidation Heatmap

The $251 million in long liquidations suggests that many retail traders were positioned for a breakout that failed to materialize. When these positions are forcibly closed (liquidated), it adds "sell-side" pressure to the market, often leading to a cascading effect where the price drops further, hitting more stop-losses.

According to data from CoinGlass, the majority of these liquidations occurred on major exchanges like Binance and OKX.

Bitcoin Future Outlook: Bull Trap or Consolidation?

The big question is whether this is a "healthy correction" before a move toward $100,000 or the start of a deeper bearish phase. For a bullish reversal to be confirmed, Bitcoin must:

• Hold the $65,500 support on a daily closing basis.
• Break out above the yellow descending trend line with significant volume.
• Reclaim $70,000 to shift the narrative back to a positive bias.

Publicly traded Bitcoin miner MARA cut 15% of its staff this week after selling $1.1 billion in Bitcoin to fuel an AI push.

President Trump insisted that the Strait of Hormuz could easily be reopened "with a little more time."

Dmail’s team said it struggled with infrastructure costs and failed monetization attempts despite five years of development.

Acting Attorney General Todd Blanche directed his staff last year to lay off crypto developers—but also oversaw their continued prosecution.

The Solana-based project reached out to wallets holding stolen funds on Ethereum.

The tide is turning once again in the battle for safe-haven assets..

XRP continues to see rising network usage despite weak price movements, fueling hopes among investors for a potential price rebound.

XRP Ledger validator highlights major turning point for XRP-native DEX once certain requirements are fulfilled.

Major SHIB whale slashed their position by 66% with a 240 billion token deposit to Coinbase this morning. The move follows Shytoshi Kusama's controversial dismissal of the $0.00055 price target.

Cybersecurity researchers have uncovered a sophisticated new strain of the "SparkCat" Trojan malware that can steal crypto from your smartphone's camera roll.

TLDR

• Cardano founder Charles Hoskinson publicly praised the new Midnight advertisement on his official X account.
• Hoskinson shared the 47-second clip and wrote, “I love these new Midnight ads,” in his post.
• The advertisement highlights privacy risks linked to public blockchain transactions and data exposure.
• The video promotes selective disclosure as a solution to protect sensitive on-chain information.
• Midnight operates as a privacy-focused Cardano sidechain that uses zero-knowledge proofs.

Cardano founder Charles Hoskinson praised a new Midnight advertisement that promotes blockchain privacy. He shared the 47-second clip on X and wrote, “I love these new Midnight ads.” The video frames privacy as essential and presents Midnight as a practical solution.

Midnight Ad Highlights Privacy Concerns

Hoskinson reposted the Matrix-themed advertisement on Friday through his official X account. He captioned the post, “I love these new Midnight ads,” and drew attention from the crypto community. The clip runs for 47 seconds and centers on privacy risks in public blockchains.

The advertisement uses scenes inspired by The Matrix and features characters Neo and Morpheus. It references the moment when Morpheus explains hidden realities to Neo. The voice-over states that every click, search, and purchase is monitored on digital networks.

The video explains that blockchain records remain public and transparent by design. It states that anyone can trace transactions on an open ledger. It then argues that such exposure can place personal data at risk.

The advertisement introduces selective disclosure as a safeguard for users. It tells viewers they can choose what information others can access. It positions Midnight as the network that enables this control.

The clip also mentions crypto-related kidnappings and thefts. It links those crimes to exposed on-chain data. It stresses that leaked personal information can lead to real-world harm.

Midnight Positions Itself as Privacy-Focused Infrastructure

Midnight operates as a privacy-centered sidechain within the Cardano ecosystem. The network uses zero-knowledge proofs to protect sensitive data. It allows users to verify transactions without exposing full details.

The project describes itself as a fourth-generation blockchain platform. It aims to balance compliance standards with data protection tools. It supports selective disclosure while maintaining blockchain transparency.

Midnight launched its mainnet on March 30 after months of beta testing. The team completed earlier testing phases before activating the network. Hoskinson has described the sidechain as a key step for broader crypto adoption.

He has stated that privacy tools can attract institutions to blockchain systems. Traditional financial firms require strict data protection measures. Midnight seeks to offer similar safeguards on decentralized infrastructure.

In March, Monument became the first UK-regulated bank to tokenize retail deposits on Midnight. The bank recorded those deposits on a public ledger using the network. This move marked an early institutional use case for the platform.

Midnight continues to promote privacy features through marketing campaigns. The latest advertisement highlights user control and protection tools. Hoskinson’s public endorsement amplified the campaign across social media platforms.

The post Cardano Founder Endorses New Midnight Privacy Ad appeared first on Blockonomi.

TLDR

• The tokenized real-world asset market reached $27.65 billion in April 2026 after a 4.07% monthly increase.
• Tokenized US Treasuries led the growth within the real-world asset sector during the crypto downturn.
• Bitcoin target markets showed low odds of reaching $100,000 by June 30.
• The US-Israel-Iran conflict contributed to a broader risk-off sentiment across crypto markets.
• Institutional inflows into Bitcoin products remained flat throughout April.

The tokenized real-world asset market climbed to $27.65 billion in April 2026 despite a broader crypto downturn. Data showed a 4.07% monthly increase even as digital asset prices weakened. At the same time, Bitcoin price target markets reflected low odds of reaching $100,000 by June 30.

Real-world Asset Growth Reflects Demand for Stability

The real-world asset sector expanded to $27.65 billion in April, according to market trackers. The market posted a 4.07% rise despite falling cryptocurrency valuations. Analysts attributed the increase to sustained demand for tokenized US Treasuries and similar products.

US Treasuries led issuance volumes within tokenized offerings during the month. Market data showed steady allocations from institutional participants. One market analyst said, “Institutions continue to allocate toward tokenized Treasuries for stability and liquidity.”

Trading volumes in tokenized debt products held firm during April. Platforms reported consistent settlement activity across blockchain networks. This flow supported the sector’s growth while crypto prices faced pressure.

Market participants shifted capital toward blockchain-based representations of traditional assets. As a result, tokenized Treasury products gained higher on-chain balances. The data showed continued expansion even as Bitcoin prices fluctuated.

Bitcoin Struggles as Geopolitical Tensions Weigh on Sentiment

Bitcoin target markets showed thin activity for the $100,000 June 30 contracts. Order books reflected limited participation from large traders. Pricing implied a low probability for the six-figure milestone within the set timeframe.

The US-Israel-Iran conflict contributed to a broader risk-off environment. Traders reduced exposure to volatile assets during heightened geopolitical tensions. A derivatives strategist said, “Geopolitical uncertainty has reduced appetite for leveraged crypto positions.”

On-chain metrics showed no major institutional inflows during the period. Exchange-traded products linked to Bitcoin recorded flat subscription data. This lack of fresh capital limited upward price momentum.

Futures market positioning indicated restrained leverage across major exchanges. Funding rates remained neutral to slightly negative through late April. These metrics aligned with subdued expectations for short-term price rallies.

The post Tokenized Real-World Asset Market Hits $27.6B in April appeared first on Blockonomi.

TLDR

• Charles Schwab plans to launch spot Bitcoin and Ethereum trading later this quarter through its brokerage platform.
• The firm manages over $12 trillion in client assets and will roll out the service in phases.
• Employees will receive early access, followed by invited clients, before a full public release.
• Clients will trade Bitcoin and Ethereum directly without using a separate crypto wallet or exchange.
• Charles Schwab Premier Bank, SSB, will operate the new crypto trading service.

Charles Schwab will introduce spot Bitcoin and Ethereum trading later this quarter through its brokerage platform. The firm manages more than $12 trillion in client assets and plans a phased rollout. CEO Rick Wurster confirmed the timeline during a prior earnings call and outlined internal testing before public access.

Charles Schwab to Enable Direct Bitcoin and Ethereum Trades

Charles Schwab will allow retail clients to buy and sell Bitcoin directly within existing brokerage accounts. The company will not require a separate crypto wallet or third-party exchange account. Instead, it will integrate spot trading into its current infrastructure for easier access.

The service will operate through Charles Schwab Premier Bank, SSB, which serves as a regulated banking subsidiary. Employees will receive early access during an internal testing phase before invited clients join. After that, Schwab will open the service to all eligible customers in stages.

Wurster confirmed the launch window during an earlier earnings call with analysts. He said Schwab expects spot crypto trading to go live later this quarter. He also stated that the firm prepared for this move as regulatory conditions evolved.

Brokerage Shifts From Indirect Exposure to Spot Crypto Access

Until now, Charles Schwab has offered digital asset exposure through exchange-traded products and crypto-linked equities. The firm also provided futures contracts and thematic investment portfolios tied to blockchain companies. However, clients could not trade Bitcoin or Ethereum directly on the platform.

The upcoming launch will change that structure by enabling direct spot transactions. Clients will execute trades within their standard brokerage accounts. Schwab will process orders without routing them to an external crypto exchange.

Wurster first signaled interest in spot crypto trading in late 2024. He said the firm monitored regulatory developments closely before expanding services. He added that Schwab positioned itself to act when conditions allowed.

The firm aims to compete with established crypto trading platforms. Schwab will offer Bitcoin and Ethereum trading alongside traditional securities. This structure places Schwab in direct competition with Coinbase, Robinhood, and Webull.

Wurster addressed competition during prior remarks about the rollout. He said, “We are ready to compete in spot Bitcoin and Ethereum trading.” He emphasized that Schwab intends to provide a familiar and regulated environment for clients.

Schwab already supports crypto-linked ETFs and futures within its brokerage accounts. However, the firm will now expand into direct ownership of digital assets. The rollout will follow internal testing and controlled client access before full availability.

The brokerage also plans to introduce a stablecoin product in the future. Wurster confirmed this plan after lawmakers passed the GENIUS stablecoin bill. He said the company will move forward once it finalizes operational details.

Charles Schwab expects to complete the phased rollout later this quarter. The company will announce broader access once testing concludes. For now, the firm continues internal preparations ahead of the public debut.

The post Charles Schwab to Launch Spot Bitcoin, Ethereum Trading appeared first on Blockonomi.

TLDR

• Riot Platforms sold 3,778 Bitcoin for more than $250 million during the first quarter of 2025.
• The company reduced its total Bitcoin holdings to 15,680 BTC after the sale.
• Riot Platforms achieved an average selling price of over $76,000 per Bitcoin.
• The firm has now sold Bitcoin in consecutive quarters after raising nearly $200 million late last year.
• CEO Jason Les said earlier that sales were intended to fund ongoing growth and operations.

Riot Platforms sold more than $250 million in Bitcoin during the first quarter of 2025. The company confirmed it sold 3,778 BTC at an average price above $76,000. As a result, the firm reduced its total holdings to 15,680 BTC by the end of March.

Riot Platforms Cuts Bitcoin Holdings as Sales Extend Into Second Quarter

Riot Platforms reported that it sold 3,778 Bitcoin during the first quarter of 2025. The company achieved an average sale price above $76,000 per coin. Consequently, it reduced its Bitcoin reserves to 15,680 BTC at quarter’s end. The remaining holdings now carry a market value near $1.04 billion. Bitcoin traded at $66,844 at the time of valuation.

The Colorado-based miner has now sold Bitcoin in consecutive quarters. During November and December, it generated nearly $200 million from Bitcoin sales. The company has not yet disclosed detailed allocation plans for the recent proceeds. A company representative did not respond to a request for comment. However, earlier in 2025, CEO Jason Les addressed the purpose of prior sales.

Les stated that earlier Bitcoin sales aimed to “fund ongoing growth and operations.” He connected those operations to expanding infrastructure and computing capacity. The company outlined these objectives in its latest strategic business update. Riot Platforms has focused on increasing its data center capabilities. It also continues to adjust its capital structure through asset sales.

Riot Platforms Shifts Strategy Toward Data Center Development

Riot Platforms confirmed that it intends to expand beyond traditional Bitcoin mining. The firm stated that it plans to unlock its nearly two-gigawatt power portfolio. It aims to deploy that capacity for high-demand data center infrastructure. Les said, “2025 marked a watershed year for Riot.” He added that the company has transformed its future trajectory.

The company explained that it previously used most of its power portfolio for Bitcoin mining. Now, it seeks to reallocate that capacity toward data center development. Riot Platforms stated that its long-term goal is “to fully utilize our power portfolio for data center development.” This shift aligns with ongoing operational restructuring. The firm continues to balance mining output with infrastructure planning.

An activist investor, Starboard Value, urged the company to accelerate its transition strategy. Starboard Value stated that the opportunity could add as much as $21 billion to Riot’s valuation. The investor called for a “renewed sense of urgency” in pursuing this plan. Meanwhile, shares of RIOT closed up 2.47% on Thursday. The stock recently traded at $12.86.

Over the past six months, RIOT shares have fallen more than 33%. During the same period, Bitcoin has declined 47% from its all-time high of $126,080. The company continues to report updates through formal filings and public statements. Riot Platforms has not announced further Bitcoin sales beyond the first quarter.

The post Riot Platforms Offloads 3,778 BTC Worth Over $250M appeared first on Blockonomi.

The topic of Ripple (XRP) price prediction is gaining renewed attention as the CLARITY Act moves toward a late April markup with 72% odds of passing according to prediction market data. XRP is trading around $1.30 following a 22% decline triggered by Trump Liberation Day tariffs on April 2, which imposed duties ranging from 10% to 50% across global trading partners. 

Six spot XRP ETFs now hold approximately $1 billion in combined assets under management. Taurox  (TAUX) is a decentralized hedge fund protocol where AI agents will trade pooled capital and stakers keep 80% of all profits.

XRP Price Prediction for 2026 and 2028 as Digital Commodity Status Reshapes Outlook

Standard Chartered projects XRP at $2.80 by the end of 2026 and $12.60 by 2028, contingent on sustained ETF inflows and regulatory clarity from the CLARITY Act. The SEC and CFTC have classified XRP as a digital commodity, removing the securities overhang that suppressed institutional adoption for years. Ripple Prime now appears on the DTCC and NSCC directory, signaling deeper integration with traditional settlement infrastructure. 

Argentina’s YPF recently tokenized $800 million in energy assets on the XRP Ledger, and an AI-driven security upgrade identified more than 10 bugs in the XRPL’s 14-year codebase. A survey of institutional allocators found that 25% of fund managers plan to add XRP to their portfolios this year. Stakers in protocols built around yield generation keep 80% of trading profits, a structure absent from XRP’s validator-based fee model.

Taurox IO Offers the Structural Upside That XRP Cannot Match Before the End of the Presale

For XRP to reach Standard Chartered’s $12.60 target, its market capitalization would need to exceed $700 billion, a figure that places it above every crypto asset except Bitcoin. The Fear and Greed Index has remained at 9 for more than 47 consecutive days, and the S&P 500 fell 5.1% in Q1, its worst first quarter since 2022. Tariff-driven volatility and compressed risk appetite make large-cap moonshots harder to justify. 

Taurox operates on a different scale entirely. The protocol is still in its presale phase with a $0.015 entry, listing target of $0.08, and a path to $1 that represents a 100x return. Before the end of the presale, each closing round raises the floor price permanently. That is a structural advantage no large-cap token can offer at its current valuation.

Two Sold-Out Phases and a $0.015 Entry Make Taurox the Sharpest Position in This Market

Phase 1 sold out in under 24 hours at $0.01. Phase 2 sold out at $0.012. Phase 3 is live at $0.015, and the protocol has raised over $890K across all rounds. The listing price of $0.08 is a 5.33x multiple from current entry. The $1 target represents a 100x return. At a $1 billion pool, the implied TAUX value reaches $1.85. A $500 position at $0.015 buys 33,333 TAUX. At the $0.08 listing that is $2,666. At $1 that is $33,333. The protocol charges zero management fees with 5% taken from profits only. Thirty percent of all fee revenue is burned permanently, 70% flows to the DAO treasury. The total supply is fixed at 2 billion tokens with no minting capability. Every phase that closes removes the lowest entry point from the table.

Conclusion

XRP at $1.30 carries institutional momentum from ETF inflows and commodity classification, but the upside math at large-cap scale is measured, not sharp. Taurox  at $0.015, with two sold-out phases, over $890K raised, AI agents that will trade pooled capital, and 80% profit share to stakers, compresses the same institutional thesis into a fraction of the entry cost. 

FAQs

What is the Ripple (XRP) price prediction for 2026?

Standard Chartered projects XRP at $2.80 by end of 2026, driven by ETF inflows and the CLARITY Act passing with 72% odds. XRP is currently trading around $1.30 after a tariff-driven selloff.

Will XRP benefit from the CLARITY Act passing?

If the CLARITY Act passes markup in late April, it would formalize XRP’s digital commodity status and remove remaining regulatory uncertainty. That clarity could accelerate institutional allocation from the 25% of fund managers already planning XRP positions.

How does Taurox compare to holding XRP for returns?

Taurox  Phase 3 is priced at $0.015 with a listing target of $0.08 and a $1 path that represents 100x. XRP at $1.30 targeting $2.80 offers roughly 2x. The structural gap in upside potential is the primary reason capital is rotating.

Learn More

Buy TAUX: https://taurox.io

Whitepaper: https://docs.taurox.io/

Official Telegram: https://t.me/tauroxlabs

Official X/Twitter: https://x.com/TauroxProtocol

The post Ripple (XRP) Price Prediction: CLARITY Act Targets April Markup While Taurox (TAUX) Nears Phase 4 In a Month After Launch appeared first on Blockonomi.

ALGO has posted another major price upswing, outperforming all top 100 cryptocurrencies today (April 3).

Some market observers expect an additional increase in the short term, while certain indicators suggest the rally might be abruptly ended by a sharp pullback.

How Much More?

Algorand’s native cryptocurrency made the headlines earlier this week when its price surged by over 20% in a single day. This happened shortly after Google’s report, in which the company’s quantum computing team warned that future quantum computers might be able to crack the cryptography behind Bitcoin and other projects much more easily than previously believed.

The release specifically highlighted Algorand as a standout example of how post-quantum cryptography can already be implemented on a blockchain that would otherwise be vulnerable to such attacks. Google’s researchers also praised the network for integrating Falcon digital signatures for smart transactions and state proofs. It turned out that Algorand was the third-most covered crypto protocol in the report, trailing Bitcoin and Ethereum.

Several hours ago, the project’s CEO, Staci Warden, gave an interview to Bloomberg, reminding the audience that the US Securities and Exchange Commission (SEC) recently classified ALGO (among many other cryptocurrencies) as a digital commodity, not a security.

Her remarks could be among the main catalysts pushing the asset’s price up today. ALGO briefly exceeded $0.12, thus reaching its highest point since January. Currently, it trades just south of that mark, representing an 18% increase on a daily scale. Its market capitalization surpassed the $1 billion psychological threshold, making ALGO the 66th-largest cryptocurrency.

Many crypto commentators anticipate a further upside movement in the near future. X user John told their nearly 900,000 followers that ALGO is among the only two coins with “strong narratives right now,” with the other being Bittensor (TAO).

“Good time to pump both of them during this holiday weekend,” they added.

Shelby also gave their two cents, arguing that if support at around $0.10 holds, the price may soon soar above $0.20.

A Closer Look at Some Indicators

Over the past several days, exchange outflows have significantly outpaced inflows. This can be taken as a bullish sign, suggesting that investors are moving their holdings to self-custody, thereby reducing immediate selling pressure.

On the other hand, ALGO’s Relative Strength Index has risen above 70. This indicates that the price has increased too much in a short period of time, making the asset overbought and due for a potential correction. The index runs from 0 to 100, and conversely, anything below 30 is interpreted as a buying opportunity.

The post Algorand (ALGO) Jumps 18% Daily as Analysts Expect Further Gains Ahead appeared first on CryptoPotato.

Ethereum continues to trade in a corrective environment. The price action reflects hesitation rather than clear directional intent. Despite multiple recovery attempts from the $1.8k demand zone, upside continuation remains limited, and rallies are consistently met with rejections.

Therefore, the current structure suggests a transitional phase rather than a trend reversal. Buyers are defending key support levels, but they have yet to demonstrate the strength required to reclaim higher timeframe resistance.

Ethereum Price Analysis: The Daily Chart

On the daily timeframe, ETH is still trading within the well-defined descending channel and maintains a broad bearish market structure. The price remains below both the 100-day (~$2.4k) and 200-day (~$3k) moving averages, which are sloping downward and supporting the current bearish trend.

The $2.3k–$2.4k region continues to act as the immediate major supply zone. This area aligns with the bearish daily order block and has repeatedly rejected the price recently. On the downside, the $1.8k level remains the critical support. A breakdown below this level would likely accelerate bearish momentum and expose lower targets, potentially extending toward the critical $1.5k support zone.

ETH/USDT 4-Hour Chart

On the 4-hour chart, ETH is consolidating in a tightening range after failing to break above the $2.4k area. The rejection from this level has led to a series of lower highs recently, as the momentum has clearly shifted bearish.

The asset is currently hovering around the $2k region. It is acting as an interim support zone and is being closely reinforced by the lower boundary of the pattern. If buyers manage to reclaim the $2.2k short-term high, the market will likely retest the $2.4k range. However, failure to hold this area would weaken the structure and increase the probability of a breakdown toward the $1.8k or even lower in the upcoming weeks.

Sentiment Analysis

The Coinbase Premium Index provides additional insight into market behavior, particularly from U.S.-based participants. Recently, the index has been showing negative levels once more, indicating a lack of strong spot demand from Coinbase users.

This is a notable shift compared to earlier periods, where positive premiums coincided with stronger upward price movements. The current absence of consistent positive readings suggests that institutional and spot-driven buying pressure is not yet strong enough to support a sustained rally.

Intermittent spikes into positive territory show that demand appears during local moves higher, but it quickly fades, reinforcing the idea that rallies are being sold into rather than accumulated aggressively. Therefore, sentiment remains cautious. The market is no longer in a panic phase, but conviction on the buy side is still limited, and this is keeping ETH in a fragile equilibrium.

The post Ethereum Price Prediction: Will ETH Dump Below $1.8K if $2K Support Is Lost? appeared first on CryptoPotato.

XRP remains in a consolidative phase after holding the $1.20 support zone. This indicates mild stability, but the market is still facing downward pressure. The price is holding key support levels, yet overhead resistance and longer-term moving averages continue to limit upside potential.

Ripple Price Analysis: The USDT Pair

On the XRP/USDT chart, XRP is trading around $1.32, just above the $1.20 support zone that has held over the past couple of months. Meanwhile, the RSI has dropped below the 50 level, which indicates that momentum is still bearish. The asset also still remains beneath both the 100-day and 200-day moving averages, located around the $1.60 and $2.00 marks, respectively.

The resistance zone around $1.75 to $1.80 continues to cap upside. A move above that area would be needed to validate a broader bullish attempt, accompanied by a breakout above the large descending channel and the key moving averages. Yet, if this scenario fails, a breakdown below the $1.20 support zone would be expected, which could lead to a prolonged bear market in the coming months.

The BTC Pair

On the daily chart of the XRP/BTC pair, XRP is hovering near 1,970 sats. It is currently testing the 1,950-2,000 sats support zone, which has held the price on multiple occasions over the past few months. As with the XRP/USDT pair, the key 100-day and 200-day moving averages are located above the current market price and will act as dynamic resistance levels around 2,100 and 2,200 sats. With the market also trending lower inside the broad descending channel, the overall market structure is still bearish.

The first meaningful horizontal resistance is located above the channel and the moving averages, around the 2,400 sats area. Meanwhile, the support level near 2,000 sats is key for short-term stability. If this level breaks down, it could open the path toward a much deeper support level around 1,500 sats, while a successful reclaim of resistance zones would improve the outlook and make investors hopeful for a recovery in the remainder of 2026.

The post Ripple Price Analysis: XRP Consolidation Continues but Bearish Sentiment Lingers appeared first on CryptoPotato.

The Bitcoin (BTC) market structure has changed immensely since 2017. In fact, new data revealed that retail participation in Bitcoin has fallen to a nine-year low on a prominent exchange, as small-scale investor activity is now largely absent.

Such a trend indicates that BTC ownership may be more centralized today than in the past.

Bitcoin Becomes More Centralized?

According to the latest observation by CryptoQuant analyst Darkfost, retail behavior is measured using inflows of less than 1 BTC to Binance, which remains the most widely used platform among this group and consistently records the highest trading volumes. The analyst found that the 30-day moving average of such inflows, often associated with “shrimp” wallets, has dropped to just 332 BTC, which happens to be the lowest level since 2017, the same year Binance launched.

Several factors have contributed to this decline. First, retail investors are increasingly keeping their Bitcoin on exchanges. As the number of platforms has grown over time, access to BTC has become easier. As a result, some investors prefer third-party custody, believing it to be safer than self-custody despite past events such as the FTX collapse. This pattern suggests that Bitcoin ownership may now be more centralized than in earlier cycles.

To top that, the introduction of spot Bitcoin ETFs has accelerated this trend. Back in January 2024, monthly retail inflows to Binance averaged around 1,000 BTC, nearly triple current levels. These products allow investors to gain exposure to BTC’s price movements through more regulated and perceived safer channels.

Additionally, some retail participants may have exited the crypto market altogether and have instead reallocated capital into equities and commodities, which have also delivered strong returns.

Lastly, a smaller contributing factor is that some investors have accumulated more BTC over time, moving into larger wallet categories and no longer being classified as retail.

“Today we can say that Bitcoin’s evolution since 2017 has clearly reshaped market structure, and retail participants have likely adapted accordingly, resulting in substantially lower on-chain activity than in previous cycles.”

Downside Risks

Bitcoin came under renewed pressure after Donald Trump hinted that tensions around Iran could escalate further. This was enough to trigger a drop below $67,000 as markets adjusted to rising geopolitical risks. Another analyst, XWIN Research, argued that the decline indicates deeper structural fragilities rather than a short-term reaction.

A growing imbalance in derivatives markets was flagged, particularly on the Chicago Mercantile Exchange, where Bitcoin futures open interest is heavily concentrated in short-dated contracts. This setup increases reliance on leveraged positions instead of spot demand, which, in turn, raises the risk of forced liquidations during periods of stress.

Macro conditions have also turned unfavorable, with rising oil prices, a stronger US dollar, and tightening liquidity, which have pushed investors away from risk assets. There are three downside scenarios: a moderate decline toward $50,000, a deeper fall to $20,000-$30,000 if ETF outflows continue, and an extreme case where escalating conflict could drive Bitcoin as low as $10,000.

The post Bitcoin (BTC) Participation Hits Record Low: Where Did Retail Go? appeared first on CryptoPotato.

One hundred dollars: that’s how much people usually spend for a monthly streaming subscription bundle, less than a tank of gas in many places across the world, and now apparently just enough to start earning real Bitcoin passively. For many years, the only way to do so was to buy and wait or start a mining operation which most people cannot afford or manage properly. This has left everyday investors on the sidelines while big players have captured most of the upside.

Bitcoin Everlight was engineered to close that gap. Its shard system changes the math entirely, thus allowing each retail investor to hop on the bandwagon.

What Bitcoin Everlight Actually Is

Imagine a layer of infrastructure running quietly alongside Bitcoin, making transactions faster and cheaper without altering the protocol’s core code. That is Bitcoin Everlight in practice. It processes operations quickly and securely, then finalizes them on the blockchain, where the real protection comes from. Anyone who holds BTCL and activates a shard becomes part of the network’s backbone and earns a portion of the fees. The project is currently in Phase 4 of its presale at $0.0014, with the next stage at $0.0016 and the launch price at $0.0310. Over $2.4 million has already been raised, and the minimum to get started is just $10.

Your $100 Starts Earning From Day One

The latest feature of the participation system is the Jade Shard, designed with accessibility as the primary priority. All it takes is a $100 commitment to activate it, and from that moment on, the shard earns 6% APY paid in BTCL throughout the presale period. When the mainnet goes live, these rewards transform automatically to real BTC sourced from actual transaction routing fees. The process is simple and does not require any additional configuration.

The full tier structure scales upward as your commitment grows:

• Jade at $100 earns 6% APY
• Azure at $500 earns 12% APY
• Violet at $1,500 earns 20% APY
• Radiant at $3,000 earns 28% or more APY

Shards upgrade by themselves when users’ balances cross the next threshold. If your BTCL possession dips under the required level, the shard pauses and reactivates once the figure recovers. This naturally keeps holders engaged in the long term. The operation does not require ASICs, power contracts, or heat management, which are necessary conditions in the traditional BTC mining process.

A Community That Shows Its Work

A clear sign that a project is real is what happens in its community channels before the hype arrives. Bitcoin Everlight’s account on X is quite active, covering everything from shard activations to network updates and development progress. The Telegram group functions more like a working group, where members share earnings screenshots and help newcomers with their first endeavors.

The dashboard reinforces that transparency. Leaderboards show who is earning what, the activity feed updates in real time, and tier progress is visible at a glance. Independent reviewers have noticed. Crypto Sister, Bull Run Angel, and Crypto League have each covered Bitcoin Everlight separately, bringing a genuine outside perspective to a project that is still in its early stages.

Security Handled Before the Presale Opened

The audit and verification work was completed before anyone could invest a single dollar. Smart contracts went through independent review by SpyWolf and SolidProof, both well-regarded names in blockchain security. The full team completed identity checks through SpyWolf KYC and VitalBlock, with verified identities held on record by regulated third-party providers. Optional checkpointing anchors transaction data to the Bitcoin blockchain, providing an additional layer of permanent accountability. The system is fully non-custodial, so your keys remain yours, and your BTCL stays under your control at all times.

Getting Started Takes About Three Minutes

The participation flow allows easy access for everyone. All it takes is purchasing BTCL, activating your shard, and the dashboard manages everything from there. The interface is available on both mobile and desktop, connects via WalletConnect, and displays live reward tracking, tier progress, and real-time network activity. Payment options include some of the most popular cryptocurrencies, such as BTC, ETH, SOL, and USDT, with a minimum entry of $10. This means that even a simple try before committing to a full shard tier costs almost nothing.

Why Right Now Is the Window That Matters

Bitcoin mining profitability has been declining since the last halving in 2024, and the trend has not reversed as difficulty rises. Moreover, staking yields across various chains are falling as capital floods those networks. Bitcoin Everlight stands apart from these dynamics, as rewards here are derived from real transaction fees generated by a growing network, not from minting new coins.

That distinction makes the yield sustainable rather than dependent on continuous new investment. Phase 4 pricing at $0.0014 still shows how early the project is. The launch price of $0.00310 represents the gap that closes a little more with each stage that passes.

$100 Was Never This Productive

While earning passive BTC income used to require substantial capital or serious infrastructure, Bitcoin Everlight changed that. Now, all you need is $100 and a few minutes to activate a Jade Shard and start earning during presale. As soon as the network goes live, there will be a smooth and automatic transition to real BTC rewards. The barrier to entry is low, the security is verified, the community is lively, and the current stage still gives early participants a clear advantage over those who wait.

Interested investors can find more information here or check Bitcoin Everlight’s X and Telegram.

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