Day: April 2, 2025

Former New York governor advised OKX over $505M federal probe: Report

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Cryptocurrency exchange OKX reportedly hired former New York Governor Andrew Cuomo to advise it over the federal probe that resulted in the firm pleading guilty to several violations and agreeing to pay $505 million in fines and penalties. Cuomo, a New York-registered attorney, advised OKX on legal issues stemming from the probe sometime after August 2021 when he resigned as New York overnor, Bloomberg reported on April 2, citing people familiar with the matter. “He spoke with company executives regularly and counseled them on how to respond to the criminal…

EY updates Ethereum scaler Nightfall to a ZK-rollup

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The Big Four accounting firm formerly known as Ernst & Young has changed its enterprise-focused layer 2 blockchain Nightfall to a zero-knowledge rollup design, which it says offers near-instant transaction finality on Ethereum. EY said in an April 2 announcement that Nightfall’s new source code, “Nightfall_4,” simplifies the network’s architecture and makes it more accessible to users than its previous optimistic rollup-based version. The move away from optimistic rollups means Nightfall users won’t need to challenge potentially incorrect transactions on Ethereum and wait out the challenging period, leading to faster…

Trump imposes 10% tariff on all countries, reciprocal levies on trading partners

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United States President Donald Trump signed an executive order establishing reciprocal tariffs on trading partners and a 10% baseline tariff on all imports from all countries. The reciprocal levies on will be approximately half of what trading partners charge for US imports, Trump said. For example, China currently has a tariff of 67% on US imports, so US reciprocal tariffs on Chinese goods will be 34%. Trump also announced a standard 25% tariff on all automobile imports. Trump told the media that tariffs would return the country to economic prosperity…

US lawmakers press SEC for info about Trump family-backed crypto firm

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Two Democratic lawmakers in the US Senate and House of Representatives have called on acting Securities and Exchange Commission (SEC) Chair Mark Uyeda to preserve information regarding World Liberty Financial, the crypto firm backed by President Donald Trump’s family. In an April 2 letter, Senator Elizabeth Warren and Representative Maxine Waters — ranking members of the Senate Banking Committee and House Financial Services Committee, respectively — asked Uyeda to provide information to Congress based on Trump’s ties to World Liberty Financial (WLFI). The two lawmakers suggested the SEC may be…

Curve Finance clocks $35B trading volume in Q1 2025

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Curve Finance, a decentralized lending protocol and exchange, notched record-breaking trading volumes of nearly $35 billion in the first quarter of 2025, a spokesperson for the protocol told Cointelegraph.  Trading volumes increased more than 13% from the first quarter of 2024, largely due to a surge in transactions, from around 1.8 million to some 5.5 million in Q1 2025, Curve said.  The strong Q1 volumes come amid overall declines in the cryptocurrency market, with the total market capitalization of cryptocurrencies dropping by more than 20% in the year-to-date as of…

Fidelity introduces retirement accounts with minimal-fee crypto investing

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Fidelity, a financial services company with $5.9 trillion in assets under management, has introduced new retirement accounts that will allow Americans to invest in crypto nearly fee-free. The three accounts — a tax-deferred traditional IRA and two Roth IRAs (one is a rollover) — permit the buying and selling of Bitcoin (BTC), Ether (ETH), and Litecoin (LTC). While there are no fees to open or maintain the accounts, Fidelity charges a 1% spread on the execution price of crypto buy and sell transactions. The crypto IRAs are offered by Fidelity…

Trump enacts 10% tariff on all imports, ramps up pressure on 60 countries

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Key Takeaways Trump’s new tariff policy imposes a 10% baseline on nearly all imports and 25% on foreign-made cars. Reciprocal tariffs targeting 60 nations begin April 9, with China at 34% and Vietnam at 46%. Share this article President Donald Trump announced today a sweeping new tariff policy that will impose a minimum 10% levy on nearly all goods entering the United States, effective April 5. The policy excludes Canada and Mexico, with both countries exempt from the 10% baseline tariff and reciprocal levies for now. However, non-compliant goods from…

Ethereum price may have bottomed, but pro traders show little interest in buying ETH

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Ether (ETH) price has risen 6.4% from its March 30 $1,768 low but the altcoin has struggled to regain the $2,000 level. Some traders believe that the downturn is partially connected to the deflating memecoin market, which, while not exclusive to the Ethereum network, significantly reduced activity across the decentralized applications (DApps) ecosystem and broader crypto space. Ether is currently 44% down year-to-date, and derivatives metrics indicate that traders are far from bullish and show little confidence in a strong recovery in the near term. Proof of this can be…

Gen Z’s Bitcoin Bet, The Largest Wealth Transfer In History?

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Episode Summary On this episode of Bitcoin Backstage, Isabella Santos mines deep on the looming $84 TRILLION inheritance the Boomer generation is set to bequeath to younger generations. With rising adoption amongst younger generations, could Gen Z be about to make a generational Bitcoin bet? It turns out that the largest wealth transfer in history may ALSO be the catalyst that kickstarts Bitcoin’s rise as ultimate monetary asset: Join Isa backstage for an interview Gen Z’s very own, and Metaplanet’s Head of Bitcoin Strategy Dylan LeClair, at Bitcoin Amsterdam to…

Bitcoin rally to $88.5K obliterates bears as spot volumes soar — Will a tariff war stop the party?

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Bitcoin price caught an unexpected bid by rallying to a session high at $88,500, but will the price gains be capped at a multimonth overhead resistance that is aligned with the 50-day moving average?  Key points: Bitcoin extended its April. 1 gains as news that the Trump administration had not finalized its “Liberation Day” tariffs emerged.  Israel, Mexico and India have already rolled back their tariffs on US imports or suggested that they will not do “tit for tat” tariffs in response to the expected April 2 US tariffs.  Bitcoin…