Month: April 2025

Firing Jerome Powell will crash financial markets — Sen. Elizabeth Warren

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US Senator Elizabeth Warren warned that if President Donald Trump eventually moves to fire Federal Reserve Chair Jerome Powell, it could undermine investor confidence in the integrity of US capital markets and trigger a financial crash. During an appearance on CNBC, the Massachusetts Senator said the President does not have the legal authority to remove Powell from his position. Moreover, removing Powell would weaken the financial infrastructure of the US, Warren added: “If Chairman Powell can be fired by the President of the United States, it will crash the markets.…

Canary Capital files for staked TRX ETF

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United States asset manager Canary Capital has filed to list an exchange-traded fund (ETF) holding the Tron blockchain network’s native token, TRX (TRX), regulatory filings show.  The fund intends to hold spot TRX and stake a portion of the tokens for added yield, the filing said.  According to CoinMarketCap, the TRX token has a total market capitalization of more than $22 billion. Staking TRX generates an annualized yield of approximately 4.5%, data from Stakingrewards.com shows. The filing is the latest in an outpouring of submissions aimed at listing ETFs holding alternative…

Aptos community proposal seeks to slash staking rewards by nearly 50%

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An Aptos community member submitted a proposal on April 18 to slash staking rewards for the network’s native token, Aptos (APT), by nearly 50% The proposal, submitted by a community member called MoonSheisty, aims at reducing reward yields from 7% to 3.79% in a three-month period, aligning Aptos staking rewards with other layer-1 blockchains and encouraging capital efficiency. The proposal has sparked curiosity on X, but early comments on GitHub show some initial resistance. A community member going by ElagabalxNode noted that reducing the staking reward without “compensatory mechanisms like…

MoonPay CEO calls on Congress to keep state authority over stablecoins

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Ivan Soto-Wright, CEO of cryptocurrency payment firm MoonPay, is calling on US lawmakers to leave a path open to state-level regulators when passing legislation on stablecoins. In an April 18 X post, Soto-Wright said he wanted Congress to “keep state-regulated issuers in the game” when it comes to stablecoin regulation, referencing efforts in the House of Representatives and Senate to create a federal regulatory framework. Lawmakers are considering whether to pass the Guiding and Establishing National Innovation for US Stablecoins, or GENIUS Act, in the Senate and the Stablecoin Transparency…

Tokenized stocks could top $1T in market cap — Execs

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Tokenized stocks are on track to exceed $1 trillion in market capitalization in the coming years as adoption accelerates, two industry executives said at the TokenizeThis conference in New York.  The total addressable market for tokenized stocks — a type of tokenized real-world asset (RWA) —  is difficult to project but is “definitely a bigger trillion-dollar market,” Arnab Naskar, STOKR’s CEO, said during an April 16 panel at the event. In 2025, demand for the instruments has “exploded” from institutions ranging from Web3 wallets to neobanks to traditional financial services…

Canary files for TRON spot ETF with staking feature

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Key Takeaways Canary Capital filed for the first US-listed ETF for Tron TRX incorporating staking features. The ETF aims to simplify TRX investment for traditional investors by tracking its spot price and offering staking rewards. Share this article Canary Capital has submitted an application for the first US-listed ETF focused on Tron’s TRX token that would include the staking feature, according to a new SEC filing. The proposed fund, called the Canary Staked TRX ETF, plans to track TRX’s spot price using CoinDesk Indices calculations, minus expenses. BitGo Trust Company…

Rare market volatility signal points to higher Bitcoin price in 6 to 12 months — Dan Tapiero

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On April 7, the CBOE Volatility Index (VIX) posted a rare spike to 60, a level seen as a barometer of extreme market fear and uncertainty. According to Dan Tapiero, CEO of 10Tfund, the VIX has hit 60 only five times in the last 35 years, and data suggests a rebound for risk assets such as Bitcoin (BTC) in 6 to 12 months. CBOE Volatility Index. Source: Cointelegraph/TradingView The VIX, which is widely considered a “fear gauge,” reflects investor expectations of market turbulence based on S&P 500 options trading. As…

Crypto Biz: Is the US Fed prepping the money printer?

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The US Federal Reserve under Jerome Powell has developed a reputation for dragging its feet on implementing important policy changes. However, a top central banker has assured that the Fed is “absolutely” ready to do whatever it takes to avoid a financial crisis, whether triggered by the US-led trade war or other adverse developments. Although the long-awaited “Fed pivot” could still be months away, policymakers appear poised to gradually ease financial conditions, beginning last month when they reduced the redemption cap on Treasurys by 80%.  Fed policy exerts a gravitational…

TRUMP tokenholders face 90% decline from peak as unlock begins

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TRUMP tokenholders face steep losses as the first vesting unlock goes live on April 18, releasing 40 million tokens, worth roughly $309 million, into circulation at a 90% discount from its peak. The unlocked tokens account for 20% of the current circulating supply and could introduce fresh volatility as a previously illiquid portion of the supply hits the market. According to CoinGecko, the TRUMP token price has fluctuated between $7.46 and $7.83 in the past 24 hours. April 18 marks the first unlock event for the TRUMP token, with steady,…

Kraken adds forex perpetual futures contracts to its Pro platform

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Cryptocurrency exchange Kraken introduced foreign exchange (forex) perpetual futures contracts to its Kraken Pro platform on April 18, giving traders further exposure to global currency markets. The first two perpetual forex futures available on the platform will be the euro-US dollar (EUR-USD) and the British pound-US dollar (GBP-USD) contracts, according to a company announcement. Both contracts feature 20x leverage and no expiry date, meaning they do not have to be rolled or settled by a deadline, unlike traditional futures contracts, which have an expiry date. Kraken’s move is the latest…