Good Morning,

Binance has confirmed it is advising multiple governments and sovereign wealth fund’s about crypto reserves, traders got rugged by Coinbase’s unofficial coin, a Brazilian man is going to jail for 170 years because of a crypto crime, Bitwise dropped their official Q1 market report … and much more

Happy Monday. Let’s start the week of strong, up & to the right 📈. Let’s dive in.

Also Happy Easter to those who celebrate 🐰

Market Snapshot

• Bitcoin at one point surged past $87,000, boosted by a weaker U.S. dollar and political uncertainty surrounding the Fed’s independence

  • Ethereum also rose above $1,650, helped by investor optimism around upcoming network upgrades aimed at improving scalability

  • Altcoins like Solana and XRP saw gains, while meme coins such as Dogecoin and TrumpCoin experienced sharp swings

  • Overall sentiment leaned bullish, though volatility remained high due to speculative trading and macroeconomic concerns

Headline Roundup
^{_{The major headlines driving crypto markets}}

• Did Coinbase rug us? A full breakdown of the epic “Base” coin failure here

• Binance CEO confirms governments have approached the firm about creating crypto reserves (WG)

• The SEC has dropped 10 crypto cases in Q1 Alone - here’s the list

• $10T AUM brokerage firm Charles Schwab to offer spot crypto trading by 2026 (CB)

• Pump.fun co-founder says the firm does not plan to release a token in response to Base incident - see his full statement here

• Kraken makes layoffs to streamline business units ahead of IPO (CD)

• Italian minister says US stablecoins pose bigger threat than tariffs (CT)

• Canary Capital files with SEC for staked TRX ETF (TB)

• VanEck shoots for May offering with crypto-related stocks ETF offering (TB)

• A quantum computing firm is offering 1 BTC bounty for anyone that can break bitcoin’s cryptography (TB)

• Circle announces refund protocol for safer stablecoin payments (AI)

• Hashkey Capital capital looks to offer Asian XRP Tracker Fund (CD)

• Aptos proposes nearly halving staking rewards to promote on-chain yield (TB)

• Kraken now offers 20x leverage for forex perpetual pairings (TB)

• Upcoming kids show to include crypto wallet feature (TC)

• Magic Eden Aeason 2 of ME token rewards unveiled (BW)

• sUSD stablecoin de-pegs even further to new low of $0.66 (DT)

• Galaxy proposes ‘market-driven’ voting approach for Solana (TB)

• International retail giant SPAR accepts bitcoin in Switzerland store (BM)

• Harvard-led bitcoin mining study slammed by environmental professionals (TB)

• Vitalik Buterin suggests replacing Ethereum Virtual Machine contract language (CT)

Venture Capital

• Galaxy Ventures plans to back 30+ startups with newest $180M fund plans (99)

• LayerZero secures $55M backing from A16Z Crypto (CN)

• ZND, a digital finance platform, has secured a $20M token investment commitment from Rollman Management Digital (CT)

• Wintermute, a prominent cryptocurrency market maker, has announced a significant investment in Euler Finance, a decentralized lending protocol (AI)

• EdgeX Labs receives strategic investment from Ryze Labs to advance global edge computing (CC)

Launches

• AI launchpad modeled after Pump.fun created by Eliza Labs (TB)

• EigenLayer launches ‘slashing’ feature a year after announcement (CD)

• Treeverse, a game built on Ethereum, launches first rewards season on immutable (DT)

Regulation

• MoonPay CEO calls for federal and state-level stablecoin legislation (CT)

• A16Z wants updated custody regulations for Registered Investment Advisors (DT)

• Crypto reserve bill passes Arizona house committee (TB)

• Arizona governor threatens to block bitcoin bill (BL)

• Central African Republic president hints at law related to coin causing massive spike (DT)

• Dennis Dioukarev formally requests Swedish government to review strategic bitcoin reserve (DF)

Cybersecurity

• Brazilian court sentences men to 170 years for $190M Ponzi scheme (DT)

• Estonian fraudsters of $577M scheme mistakenly ordered to self-deport (CD)

• Crypto casino founder resigns and arrested after losing $3.7M (BL)

• Zoom phishing attack targets Manta founder (CN)

• AWS outage makes crypto community question centralized backbone (DF)

• Crypto exchange eXch is shutting down due to $1.4B Bybit hack ties (DT)

Extra Reads

• The full Q1 Crypto Market review by Bitwise just dropped and its incredible

  Read the full report here
  

• Bitcoin's true capitulation zone Is $65K
  
  Here’s an in-depth breakdown of why this famous analyst thinks so

• Ripple CEO firmly dismisses any plans for an IPO in 2025, calling it a "definitive no."
  
  Watch the interview here

Chart of the Day

Stablecoin transactions surpass Visa payment transactions 📈

Meme Dump

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