Category: Bitcoin News

Cosmos launches Eureka to connect Ethereum and IBC networks

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Cosmos, a blockchain network aiming to become the “internet of blockchains,” has launched Eureka, an interoperability layer designed to link its inter-blockchain communication (IBC) protocol with Ethereum. According to an April 10 announcement, Eureka has expanded the Cosmos IBC protocol, changing IBC from an ecosystem standard “to a universal interoperability protocol,” setting the hub on a course to become the home of multichain apps. Cosmos projects are integrating into IBC Eureka. Source: Cosmos With the introduction of Eureka, many Cosmos-based applications and blockchains are now accessible to more users by…

Tokenized gold volume hits $1B first time since 2023 US banking crisis

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Tokenized gold trading volume surged to a two-year high this week, topping $1 billion as investors pivoted toward safe-haven assets amid global uncertainty triggered by US President Donald Trump’s import tariffs. The weekly trading volume of tokenized gold surpassed the $1 billion mark for the first time since March 2023, when a US banking crisis saw the sudden collapse of Silicon Valley Bank and the voluntary liquidation of Silvergate Bank. Signature Bank was also forced to close operations by New York regulators on March 12, two days after Silvergate’s liquidation.…

UK regulator sounds alarm over stablecoin risks

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United Kingdom regulators are increasingly concerned about the impact of stablecoins and the broader crypto industry on the country’s financial system and monetary stability. During Financial Policy Committee meetings held on April 4 and 8, regulators noted that while the current “interconnectedness of unbacked crypto asset markets with the real economy and financial sector is growing but remains relatively limited,” stablecoins and crypto markets have expanded significantly in the past year, drawing heightened regulatory attention. The UK, its central bank and its local regulator, the Financial Conduct Authority, have been…

How USDT mints and burns move with Bitcoin price cycles

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Over the past decade, issuance of Tether’s USDt (USDT) has consistently mirrored Bitcoin (BTC) price cycles, with mints often clustering around bull runs and burns following corrections. Data from Whale Alert shows the relation between USDT issuance and Bitcoin price movements by plotting Tether’s net minting and burning alongside the price of Bitcoin from 2015 to early 2025.  While many in the industry have long speculated about the correlation between USDT supply and BTC performance, this data set provides a clearer timeline for evaluating that relationship. Tether’s USDT, the world’s…

Synthetix USD stablecoin loses dollar peg, drops to 5-year low of $0.83

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The Synthetix protocol’s native stablecoin, Synthetix USD (sUSD), fell to its lowest value in five years, extending a months-long struggle to maintain its $1 peg. The asset has faced persistent instability since the start of 2025. On Jan. 1, sUSD dropped to $0.96 and only rebounded to $0.99 in early February. Prices continued to fluctuate through February before stabilizing in March. On April 10, sUSD fell to a five-year low of $0.83, according to data from CoinGecko. SUSD is a crypto-collateralized stablecoin. Users lock up SNX tokens to mint sUSD,…

Bybit recovers market share to 7% after $1.4B hack

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Bybit’s market share has rebounded to pre-hack levels following a $1.4 billion exploit in February, as the crypto exchange implements tighter security and improves liquidity options for retail traders. The crypto industry was rocked by its largest hack in history on Feb. 21 when Bybit lost over $1.4 billion in liquid-staked Ether (stETH), Mantle Staked ETH (mETH) and other digital assets. Despite the scale of the exploit, Bybit has steadily regained market share, according to an April 9 report by crypto analytics firm Block Scholes. “Since this initial decline, Bybit…

OpenSea urges SEC to exclude NFT marketplaces from regulator’s remit

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Non-fungible token marketplace OpenSea has urged the US Securities and Exchange Commission to exclude NFT marketplaces from regulation under federal securities laws. The SEC needs to “clearly state that NFT marketplaces like OpenSea do not qualify as exchanges under federal securities laws,” OpenSea general counsel Adele Faure and deputy general counsel Laura Brookover said in an April 9 letter to Commissioner Hester Peirce, who leads the agency’s Crypto Task Force. Faure and Brookover argued that NFT marketplaces don’t meet the legal definition of an exchange under US securities laws as…

81.6% of XRP supply is in profit, but traders in Korea are turning bearish — Here is why

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XRP has struggled to find sustained bullish momentum since reaching its cycle peak at $3.40 on Jan. 16, 2025. XRP (XRP) dropped as much as 46% over the past three months, but despite its recent drawdown, Glassnode data indicates that 81.6% of XRP’s current circulating supply remains in profit. While the profit supply percentage is down from its year-to-date high of 92%, the data set highlighted the retention value for holders despite the recent corrections. Percentage Supply in Profit for XRP, BTC, SOL ETH, TRX. Source: X.com Currently, only Tron…

SafeMoon boss cites DOJ’s nixed crypto unit in latest bid to toss suit

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Braden John Karony, the CEO of crypto firm SafeMoon, has cited the US Department of Justice’s directive to no longer pursue some crypto charges in an effort to get the case against him and his firm dismissed.  In an April 9 letter to New York federal court judge Eric Komitee, Karony’s attorney, Nicholas Smith, said the court should consider an April 7 memo from US Deputy Attorney General Todd Blanche that disbanded the DOJ’s crypto unit. “The Department of Justice is not a digital assets regulator,” Blanche said in the…

US Senate confirms Paul Atkins to lead SEC under Trump

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The US Senate has confirmed US President Donald Trump pick Paul Atkins as chair of the Securities and Exchange Commission in a 51-45 vote, with lawmakers largely voting along party lines. His appointment comes several months after Trump named Atkins to lead the commission late last year. Atkins previously served as an SEC commissioner between 2002 and 2008. He will take over from Mark Uyeda, who has served as the SEC’s acting chair since Jan. 20. ”We welcome Paul Atkins as the next Chairman of the SEC. A veteran of…