Day: April 7, 2025

Over 90% of WazirX creditors support post-hack restructuring plan

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More than 90% of the voting creditors of the Indian crypto exchange WazirX voted in favor of the platform’s post-hack restructuring plan. According to an April 7 announcement, 93.1% of voting creditors who hold 94.6% of the value voted in favor of the plan. All creditors who held crypto balances on the platform were eligible to vote on the Kroll Issuer Services platform from March 19 until March 28. WazirX co-founder and CEO Nischal Shetty told Cointelegraph that with the plan approved, stolen asset recovery is “a primary focus.” Still,…

Changpeng Zhao appointed as strategic advisor to Pakistan Crypto Council

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Key Takeaways Changpeng Zhao has been appointed as Strategic Advisor to the Pakistan Crypto Council. Pakistan aims to become a regional powerhouse for digital finance and blockchain-driven growth. Share this article Changpeng “CZ” Zhao, co-founder of Binance, has been named Strategic Advisor to the Pakistan Crypto Council (PCC), according to a Monday report by TechJuice, a prominent tech news outlet covering Pakistan’s startup and innovation ecosystem. The appointment was announced during a Monday meeting with top Pakistani officials, including Finance Minister Senator Muhammad Aurangzeb, SECP Chairman, State Bank Governor, and…

Michael Saylor’s Strategy halts Bitcoin buys despite dip below $87K

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Michael Saylor’s firm Strategy, the world’s largest publicly listed corporate holder of Bitcoin, did not add to its BTC holdings last week as the cryptocurrency’s price dropped below $87,000. In a filing with the US Securities and Exchange Commission on April 7, Strategy announced it made no Bitcoin (BTC) purchases during the week of March 31 to April 6. The decision followed a week of heightened market volatility, with BTC surging to as high as $87,000 on April 2 after starting the week at around $82,000, according to data from…

Bitcoin struggles below $77K, Ether, XRP, and Solana deepen declines ahead of US market opening

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Key Takeaways Bitcoin and major altcoins suffered significant losses due to concerns over new US tariff policies. Crypto market capitalization decreased by over 10%, representing a $100 billion loss. Share this article Bitcoin hovered below the $77,000 level in early Monday trading as the broader crypto market downturn deepened. Losses extended across altcoins, with major ones like Ether, XRP, and Solana suffering double-digit losses ahead of the US stock market opening. Bitcoin falls, altcoins bleed as Trump’s tariffs hit Asian markets Bitcoin fell below $75,000 today, its lowest level since…

ZKasino scammer loses $27M as Ethereum price drops

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A wallet linked to the $40 million ZKasino scam lost more than $27 million after a leveraged position was liquidated, marking what some in the crypto community are calling a dose of karmic justice. ZKasino launched in April 2024, luring investor capital by promising an airdrop of its native token to users who bridged Ether (ETH) to the platform. However, instead of returning the funds, ZKasino transferred around $33 million in user ETH to the staking protocol Lido Finance. Nearly a year later, the wallet behind the alleged exploit has…

US federal agencies to report crypto holdings to Treasury by April 7

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US federal agencies are expected to disclose their cryptocurrency holdings to the Department of the Treasury by April 7, following an executive order signed by President Donald Trump earlier this year. Citing an unnamed White House official, journalist Eleanor Terrett reported that the deadline for federal agencies to report their crypto holdings to Treasury Secretary Scott Bessent is April 7. However, the disclosures will remain confidential for now. “Unclear as of now if and when the findings could be made public,” Terrett wrote. Source: Eleanor Terret Crypto disclosure follows Bitcoin…

Mantra unveils $108M fund to back real-world asset tokenization, DeFi

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The Mantra blockchain network has launched a $108,888,888 ecosystem fund aimed at accelerating the growth of startups focused on real-world asset (RWA) tokenization and decentralized finance (DeFi), amid rising demand for stable, asset-backed digital products. Mantra, a layer-1 (L1) blockchain built for tokenized RWAs, launched the Mantra Ecosystem Fund (MEF) to accelerate the growth and adoption of projects and startups building on its network, according to an April 7 announcement shared with Cointelegraph. Mantra said it will deploy the capital over the next four years among “high-potential blockchain projects” worldwide,…

Crypto ETPs shed $240M last week amid US trade tariffs — CoinShares

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Cryptocurrency exchange-traded products (ETPs) saw renewed outflows last week, with $240 million in investor capital pulled, according to an April 7 report from digital asset manager CoinShares. The outflows reversed two consecutive weeks of inflows that totaled $870 million, leaving total digital asset ETP holdings at about $133 billion, CoinShares reported. The new outflows likely reflect investor caution in response to global trade tariffs imposed by the United States and concerns over their potential threat to global economic growth, CoinShares head of research James Butterfill said. Weekly crypto ETP flows…

Hong Kong introduces crypto staking rules, reaffirms Web3 commitment

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Hong Kong’s Securities and Futures Commission (SFC) has introduced new guidelines for crypto exchanges offering staking services. In an April 7 announcement, the SFC announced new guidelines for crypto exchanges offering staking services and locally authorized funds exposed to digital assets involved in staking. The announcement follows recent remarks from Christina Choi, the SFC’s executive director of investment products, who said during a speech at the Hong Kong Web3 Festival: “The SFC is committed to supporting Hong Kong’s Web3 journey.” In its announcement, the regulator said it “recognizes the potential…

Whale makes $14M Ether emergency deposit to avoid $340M liquidation

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An unidentified cryptocurrency whale injected millions of dollars in emergency capital to avoid a potential liquidation of more than $300 million in Ether as markets slumped amid renewed macroeconomic pressure. The whale is reportedly close to liquidation on a 220,000 Ether (ETH) position on MakerDAO, a decentralized finance (DeFi) lending platform. To stave off liquidation, the investor deposited 10,000 ETH — worth more than $14.5 million — and 3.54 million Dai (DAI) to raise the position’s liquidation price, blockchain analytics firm Lookonchain said in an April 7 post on X.…