The Cryptonomist

EBC12 convenes on 16–17 September 2026 — bringing together the decision-makers, allocators and infrastructure providers who are defining what comes next

Barcelona, Spain — The question facing the digital asset industry is no longer one of legitimacy. After the approval of spot Bitcoin and Ethereum ETFs, the rollout of MiCA across the European Union, and growing allocations from asset managers and pension funds, institutions are in the market. The question now is one of execution — which platforms, counterparties and infrastructure will define the institutional layer of what comes next.

It is in that context that the European Blockchain Convention (EBC) will return to Barcelona on 16–17 September 2026 for its 12th edition — bringing together over 6,000 attendees from 70+ countries across two days of market intelligence, meetings and commercial momentum. Join the 12th edition with institutions like BlackRock, Cardano, Bitwise, Baillie Gifford, WisdomTree, Hilbert Capital, Zodia Custody, Midchains, and Caisse des Depots among others.

“EBC is built around a simple idea: when the right people are in the room, progress happens faster. In a market as fragmented as Europe’s digital asset landscape, that matters.”— Victoria Gago, Co-CEO, European Blockchain Convention

INSTITUTIONS AT THE CENTRE — SINCE THE BEGINNING

While the industry’s narrative around institutional adoption has accelerated sharply over the past 18 months, EBC’s focus on that audience predates the trend. From its first edition, EBC was designed not around retail participation or token launches, but around the decision-makers who control capital at scale: asset managers, banks, infrastructure providers, exchanges and the policymakers shaping the rules they operate under.

Europe compounds the challenge. It is not one market — it is a region of parallel conversations, different regulatory timelines and different capital pools across London, Paris, Frankfurt, Zurich and Barcelona. EBC’s positioning as Europe’s Digital Asset Marketplace reflects a structural reality: the market needs a place where those conversations converge. Over 12 editions, it has become that place.

EBC12: THE AGENDA

The programme spans the issues that define institutional participation in digital assets today: regulatory convergence and market structure across major jurisdictions; capital allocation strategy from sovereign funds to private banks; the infrastructure required for institutional-grade operations; the rise of real-world asset tokenisation; stablecoin and CBDC dynamics as settlement infrastructure; and the role of AI in reshaping market intelligence and execution.

“What makes EBC valuable is not scale for the sake of scale. It is the concentration of the right market participants in one place — decision-makers, operators, investors and infrastructure leaders — with enough relevance and intent to make the time count.”— Victoria Gago, Co-CEO, European Blockchain Convention

ABOUT EBC

The European Blockchain Convention (EBC) is the Europe’s Digital Asset Marketplace — the pan-European event where institutions, capital allocators, infrastructure providers and policymakers converge. Now in its 12th edition, EBC has established itself as the commercial centre of the European digital asset market.

Registration is open at 

European Blockchain Convention 12

Press contact: media@eblockchainconvention.com

New week, new crypto horoscope dedicated to the upcoming week from April 6 to April 12, 2026.

This week will be marked by a transit: 

Mars enters Aries from Thursday 9/4

For several months now, we have been dedicating space to the crypto horoscope written by Stefania Stimolo, an expert in astrology and blockchain. This is a weekly column featuring the horoscope for each zodiac sign, available every Sunday exclusively on The Cryptonomist. 

In our slogan “We Tell the Future,” we wanted to delve deeper into the topic, humorously speaking, with this entertainment column. 

The Crypto Horoscope

We call it a crypto horoscope simply because industry terminology is used. 

Words like NFT, metaverse, and Over-The-Counter to describe actions and scenarios, as well as trading terminology like bullish, bull run, bear market, or dump to identify the mood of each zodiac sign during the days of the week.

Obviously, the famous to-the-moon cannot be missing to indicate the mood of that sign! 

In general, you might experience a period akin to a “hard-fork,” understood as an “inner split,” or pass your lightning torch to the next zodiac sign, meaning the Sun is moving to the next sign. 

Or, simply, you need to reflect on certain situations that go into “verify,” meaning when the planet is in dissonance with the zodiac sign. Moreover, with each new transition of the Sun through the zodiac constellations, the roadmap of each sign will reach a new step. 

Obviously, no investment advice is given; rather, it is purely for entertainment, just like any other horoscope. It should be noted that many beginners in the sector have understood specific crypto terminology thanks to the horoscope on The Cryptonomist. 

“Don’t Trust, Verify”

Astrology is not an exact science, but it aims to predict the future in its own way. So why not associate the typical blockchain phrase “Don’t Trust, Verify” here as well. 

Indeed, what the author aims to propose is her interpretation of the planetary transits occurring during the week, describing the reaction of each zodiac sign, following the “logic” of traditional astrology. 

For those who are astrology enthusiasts, they might stay updated simply by following the transits that are communicated weekly, which, in some way, influence us. A Mercury Retrograde, rather than the days of a Full Moon. 

Others, on the other hand, might visit the dedicated page, which is updated every Sunday, and read the horoscope for their zodiac sign, their ascendant, or why not, even the horoscope of friends and loved ones. 
So, just for entertainment purposes, don’t waste time and click here to read your horoscope for this week!

MILAN, ITALY – ETHMilan, Italy’s largest international conference dedicated to Web3, returns for its fourth edition on May 21–22, 2026, at the Museo Nazionale della Scienza e della Tecnologia Leonardo da Vinci, one of Milan’s most prestigious and historically significant venues.

Two full days, bringing together the brightest minds in blockchain, DeFi, and emerging technologies for an unmatched immersive experience.

ETHMilan 2026 is a very special edition:

2,000+ attendees expected from across Italy and Europe

100+ speakers — worldwide industry leaders and local builders

10+ sponsors already confirmed, including Title Sponsor MoonPay

Multi-track programme: DeFi, Real World Assets, Neobanks, Agentic Payments, AI, ZK Proofs, Stablecoins, Institutional Adoption & more

Exclusive access to the museum’s permanent exhibitions — a unique setting that celebrates technological progress

Whether you’re a seasoned expert or simply curious about the future of Web3, ETHMilan 2026 is the unmissable event of the year.

The conference is open to builders, investors, newbies and students, with the latter also having the opportunity to enjoy the conference for free.

Join the conversation. Connect with pioneers. Witness the future.

Crypto card payments have just set a new record. 

In fact, by March 2026, their total transaction volume rose to $584.5 million, marking a 211% increase compared to the previous year.

This marks the new all-time monthly high ever recorded. 

Crypto Credit Cards

Crypto cards are actually debit cards, generally, and not credit cards. 

However, in common language, there is often confusion because the term “credit card” has now entered everyday vocabulary and is frequently used to generally identify payment cards, not just credit cards. 

From a technical standpoint, cryptocurrency payment cards are prepaid cards, or debit cards. 

In fact, actual credit cards allow their users to pay using credit, up to a daily or monthly spending limit, and then this credit must be repaid at a later time. 

In contrast, prepaid cards, such as crypto cards, allow you to spend only the funds already deposited in the account to which they are linked. 

Simply put, traditional prepaid cards allow you to deposit fiat currency into the account, while crypto cards also allow you to deposit cryptocurrencies, which are instantly converted into fiat currency at the time of payment. 

The Records

Crypto payment cards, funded in cryptocurrencies but allowing payments in fiat currencies on major payment networks like Visa and Mastercard, have been around for several years now. 

According to PaymentScan data, until May 2023, the monthly total of payments made with monitored crypto cards had not even surpassed one million dollars. 

Consider that on the Visa network alone, payments exceeding 20 billion dollars are typically processed in a single month. 

However, starting from December of the same 2023, there has been a surge, which appears to be ongoing, despite a slight dip in February of this year. 

The first month in which crypto card payments collectively exceeded $10 million was actually January 2024, precisely the month when the first Bitcoin spot ETFs debuted on US exchanges. It is possible that these two events are not connected, but they demonstrate how starting from 2024, the world’s perception of the crypto sector began to change. 

By September of that same 2024, the total monthly figure had already surpassed 100 million, with truly exponential growth that, however, temporarily halted in December of the same year. 

During 2025, however, the 200 million mark was first surpassed in April, and then the 300 million mark in July. Therefore, the exponential growth continued. 

The previous all-time high was reached in January 2026, with over 550 million dollars, while in February, partly due to the fewer number of days, they settled at 523. 

The all-time highest monthly record, for now, was indeed set last month, when for the first time in history, $600 million was surpassed.

Crypto Cards

It should be noted, however, that the crypto cards monitored on-chain by PaymentScan pertain only to those crypto protocols whose transactions are fully trackable on-chain. 

In other words, the previously mentioned data does not include payments made with crypto cards from centralized exchanges, because their data is not publicly identifiable on-chain. 

Given that it is highly likely that the crypto cards from major exchanges are used even more than those from these protocols, it is almost certain that the actual figures are significantly higher. 

The card that generates the most payments among those monitored by PaymentScan is RedotPay, which alone accounts for more than half of the volumes. In other words, all the others combined do not reach the volumes of this single card. 

The monthly volume of approximately $390 million recorded in March by RedotPay is very likely lower than that generated by payments made with cards from major centralized exchanges like Binance, Bybit, or Coinbase. 

In fact, it is estimated that the total monthly volume, including exchange cards, has long surpassed $1.5 billion, which is more than double the amount recorded on-chain by PaymentScan.

The Networks

PaymentScan also monitors which networks and systems are most used for fiat payments powered by cryptocurrencies. 

Among the payment networks from this perspective, Visa clearly dominates, with as much as 97% of the total volume, while Mastercard holds only a small 3%. However, these percentages could be different if data from centralized exchange cards were included, which are not publicly available. 

Regarding crypto networks, the majority of cryptocurrency transactions on these cards have been conducted on the Tron network, accounting for 33.5%.

It should not be forgotten that Tron is the most used network for moving USDT, although to be honest, lately the Ethereum network has significantly lower fees from this perspective and is gaining a lot of ground. 

This does not change the fact that in second place, among the most used networks by crypto cards monitored by PaymentScan, is BSC (BNB Smart Chain) with 15.1%, followed by Solana (12.3%) and indeed Ethereum (10.9%).

USDT still accounts for a significant 62% of the total volume, while USDC stands at 27%.

The latest move by US regulators toward a coinbase bank charter is drawing sharp criticism from traditional banking groups even as the exchange eyes new services.

OCC’s conditional green light for Coinbase trust bank

The US Office of the Comptroller of the Currency (OCC) has granted Coinbase (COIN) a conditional approval for a national trust bank charter. This tentative nod would place the crypto exchange among a small group of just five digital-asset firms, including Ripple and Circle, that have received similar preliminary sign-offs from the agency.

If the charter is ultimately finalized, Coinbase would be able to expand beyond its existing crypto custody services. The company could then offer payment products and additional infrastructure under direct federal supervision, Coinbase chief legal officer Paul Grewal told CNBC. However, that potential expansion is already facing organized resistance from community banks.

Coinbase targets expanded US payments and infrastructure

During his interview, Grewal argued that the OCC decision opens the door for Coinbase to develop a broader range of services in the US, especially in payments. He said the approval allows the exchange to work with the regulator on a new generation of payment-focused offerings.

According to Grewal, the conditional approval for the coinbase bank charter means that, over the long haul, the company can explore offering not only custody products but also other infrastructure products. Moreover, he emphasized that the focus would be particularly around payments that could expand and extend crypto payments in new directions across the US market.

ICBA slams OCC decision and flags regulatory gaps

The move has reignited long-standing banking regulation concerns from traditional institutions. The Independent Community Bankers of America (ICBA) responded with a detailed letter opposing the OCC’s conditional approval of Coinbase National Trust Co., the subsidiary named in the charter application. That said, the OCC has not yet granted full approval.

Rebeca Romero Rainey, ICBA president and CEO, labeled the approval “a grave mistake” that she says would put US consumers at risk. The ICBA letter alleges that Coinbase’s application contains significant shortcomings, including inadequate risk controls, unclear profitability prospects and unresolved resolution risks that could surface during stress events.

The trade group further argues that the filing fails to satisfy the requirements set by the National Bank Act and the OCC’s own regulations. Moreover, it claims these gaps highlight why regulators must apply consistent standards across both traditional banks and emerging digital-asset firms.

Community banks challenge OCC’s charter framework

The ICBA warned that the influx of charter applications from non-bank entities suggests many firms are seeking the benefits of a federal bank charter without being fully subject to the usual safeguards. This includes capital, liquidity and supervisory frameworks that apply to conventional banks. However, community banks say this creates an uneven playing field.

According to the ICBA, that dynamic could undermine consumer protection and threaten the broader stability of the financial system. The group also targeted the OCC‘s final rule on national trust bank chartering, arguing that the framework needs to be reworked to reflect the full scope of risks tied to crypto-related activities.

The trade association specifically objects to the OCC’s plan to charter uninsured national trust banks that could carry out non-fiduciary crypto-related business without being subject to the Bank Holding Company Act or the prudential requirements that apply to FDIC-insured institutions. Moreover, ICBA said this approach could allow complex operations to grow outside established oversight regimes.

ICBA urges OCC to withdraw or revise charter rule

In its letter, the ICBA reiterated calls for the OCC to withdraw its current rule or reissue a revised proposal that better aligns with the agency’s statutory authority and longstanding legal precedent. The independent community bankers group stressed that national trust institutions should not be used as a workaround to avoid the full regulatory framework that applies to traditional banks.

The ICBA also argued that the OCC should conduct a broader review of how its chartering policies intersect with emerging digital-asset business models. That said, it signaled a willingness to engage with regulators on clearer guardrails that balance innovation with consumer protection and systemic stability.

Market reaction and outlook for Coinbase

Despite the OCC’s conditional approval and the policy backlash, Coinbase stock, which trades under the ticker COIN, showed little immediate reaction. As of the time of writing, COIN was trading at $171 and had seen little to no change compared to Wednesday’s trading session.

Looking ahead, the key question for Coinbase will be how quickly it can move from conditional status to a finalized charter while addressing regulatory concerns around coinbase payment products and other services. The outcome will shape how far the company can push into US payments and infrastructure under federal oversight.

In summary, the OCC’s conditional nod has opened a potential new chapter for Coinbase’s regulated expansion, but the strong opposition from ICBA and other banking voices ensures that the path to a full national trust bank charter will remain closely watched across Washington and Wall Street.

Japan’s technology landscape is set for a major upgrade as the microsoft japan ai initiative anchors a fresh wave of infrastructure, cloud, and cybersecurity investment across the country.

Microsoft commits $10 billion and 1.6 trillion yen to Japan

Microsoft has unveiled a four-year investment package worth $10 billion in Japan, confirming plans to deploy 1.6 trillion yen between 2026 and 2029. The program focuses on AI infrastructure, enhanced cybersecurity cooperation, and large-scale workforce training, while strengthening the company’s broader Asia strategy.

The Redmond-based giant detailed that this capital will fund new AI systems, cloud capabilities, and security initiatives designed to support both private-sector innovation and government digitalization. Moreover, the investment includes an educational commitment to train 1 million engineers and developers in Japan over the next six years.

Brad Smith, Microsoft Vice Chair and President, presented the plan during a visit to Tokyo, which included meetings with Prime Minister Sanae Takaichi on April 3, 2026. He framed the initiative as central to Japan’s economic growth and national security agenda.

Sakura Internet and SoftBank at the core of the partnership

Sakura Internet, which operates a national network of data centers, emerged as a key beneficiary of the announcement. Its stock surged 20.27% on Friday after being named a primary collaborator alongside SoftBank in the new AI alliance.

Under the partnership, Sakura Internet and SoftBank will provide Japan-based AI computational power, including dedicated GPU resources located physically within Japanese borders. However, these facilities will remain tightly integrated with Microsoft Azure, ensuring that Japanese customers can use advanced cloud tools while keeping sensitive data onshore.

This design allows corporations and government agencies to process confidential information domestically, addressing data-sovereignty and compliance concerns. That said, users will still gain access to the broader Azure ecosystem, including cutting-edge AI models and cloud services.

Additional talks between SoftBank and Microsoft Japan focus on building a joint solution so Azure clients can access SoftBank’s AI computing infrastructure in a seamless manner. In parallel, investor reaction remained positive, with SoftBank Group shares closing up 0.22% and SoftBank Corp. advancing 1.02% on the day.

Japan’s role in global AI adoption

Microsoft underscored Japan’s strategic relevance by pointing to rising demand for cloud computing and AI services. Data from the company’s AI Diffusion Report shows that roughly 20% of Japan’s working-age population uses generative AI technologies, compared with a global average near 16%.

Smith argued that this rapid adoption supports Prime Minister Takaichi’s vision of deploying advanced technology to drive economic growth and reinforce national security. Moreover, he noted that the microsoft japan ai program is intended to match Japan’s pace of innovation with the infrastructure and talent pool it needs.

The plan to educate 1 million AI professionals by 2030 aligns with this goal. Training will target engineers and developers across industries, aiming to embed AI skills into manufacturing, finance, public services, and the broader digital economy.

Extended collaboration with Japanese tech leaders

Beyond Sakura Internet and SoftBank, Microsoft announced collaborations with five major Japanese technology companies to help deliver its training commitments. The list features NTT Data Corp., NEC, Fujitsu, and Hitachi, alongside other local partners.

This extended framework will support the development of homegrown large language models tailored to Japan’s language, culture, and enterprise requirements. However, it will also connect these domestic models with global AI platforms, enabling Japanese firms to compete more effectively at an international level.

On the security front, Microsoft’s cooperation with Japanese authorities includes deeper intelligence sharing on cyber threats and coordinated crime-prevention measures. That said, the company also plans to bolster defensive tools for critical infrastructure and corporate networks through joint cybersecurity initiatives.

Market impact on Sakura Internet and SoftBank

Investors reacted swiftly to the infrastructure announcement. Sakura Internet closed Friday’s trading at 2,967.00 JPY, up exactly 500.00 JPY for the session, reflecting optimism about its role in Japan’s expanding AI ecosystem.

Meanwhile, SoftBank Group’s modest 0.22% gain and SoftBank Corp.’s 1.02% rise signaled confidence that domestic AI capacity and new cloud offerings could unlock fresh revenue streams. Moreover, the focus on domestically hosted GPUs and secure data handling positions these firms at the center of Japan’s push for digital sovereignty.

Overall, Microsoft’s 1.6 trillion yen commitment, in tandem with Sakura Internet, SoftBank, and other Japanese technology leaders, marks a substantial acceleration of AI, cloud, and cybersecurity capabilities in Japan, aiming to pair world-class infrastructure with a million-strong AI-ready workforce by 2030.

Investors are closely watching the race to take Elon Musk’s space company public, with growing attention on the planned spacex ipo amid record-breaking fundraising ambitions.

Saudi PIF weighs multibillion-dollar anchor role

Elon Musk‘s aerospace venture SpaceX is moving toward a highly anticipated stock market listing as it negotiates an anchor investment of about $5 billion with Saudi Arabia’s Public Investment Fund (PIF), according to two people familiar with the talks cited by Reuters. However, the sources stressed that the discussions remain ongoing and that no binding agreement has been concluded.

The individuals noted that the structure and exact terms of the proposed PIF commitment could still change before any final deal. Moreover, representatives for both SpaceX and PIF declined to comment publicly, underlining the sensitivity of the negotiations ahead of a potential listing.

Saudi Arabia’s sovereign wealth fund currently holds slightly less than 1% of SpaceX’s equity. The contemplated $5 billion injection would chiefly help preserve PIF’s proportional stake when fresh shares are issued in the offering, limiting dilution to its existing position.

Role of anchor investors and planned allocation

In major initial public offerings, anchor investors are large institutional buyers that commit capital before the broader marketing roadshow begins. Their early participation can signal confidence, help stabilize order books, and generate momentum for the share sale among other investors.

SpaceX has reportedly been lining up such cornerstone backers well ahead of its public markets debut. That said, sources indicate that a meaningful portion of the shares will also be allocated to high-net-worth individual clients of the underwriting banks, adding another layer of demand to the book-building process.

The planned transaction seeks to raise as much as $75 billion in gross proceeds. If the company achieves this target, it would surpass the $25.6 billion raised by Saudi Aramco in 2019 and the $25 billion generated by Alibaba in its 2014 listing, setting a new global benchmark for record IPO proceeds.

Valuation ambitions and space industry impact

Earlier reporting from Bloomberg suggested that SpaceX may pursue a post-listing valuation above $1.75 trillion. Such a market capitalization would rank the company among the most highly valued issuers ever to conduct an initial public offering and could reshape the broader space industry valuation forecast.

Moreover, achieving a valuation of that scale would underscore the strategic importance of launch services, orbital infrastructure, and commercial space networks for global capital markets. The spacex ipo is therefore being viewed not only as a financing event but also as a key test for investor appetite toward large-scale, long-duration tech and infrastructure plays.

Deepening Saudi–Musk business ties

The potential PIF anchor commitment would add a new chapter to the growing elon musk business ties with Saudi Arabia. The Public Investment Fund intensified its links with Musk’s portfolio in November 2025, when its artificial intelligence arm HUMAIN partnered with Musk’s xAI to build 500 megawatts of computing capacity in Saudi Arabia.

Subsequently, PIF funneled $3 billion through HUMAIN before xAI combined with social media platform X in March 2025. However, the prospective saudi pif anchor investment in SpaceX would be far larger in scale, reinforcing Riyadh’s push to position itself at the center of emerging technology and space ecosystems.

Regulatory progress and timing of the listing

The Texas-based SpaceX, headquartered at Starbase, has already submitted confidential registration documents to the U.S. Securities and Exchange Commission. Various financial media outlets confirmed the undisclosed spacex sec filing on a Wednesday, with Reuters the next day revealing details of the Saudi funding talks.

The company is preparing for a public market launch in the latter part of 2025, subject to regulatory reviews, market conditions, and board approvals. Moreover, the confidential nature of the filing gives SpaceX flexibility to refine its disclosures and capital-raising targets before publishing a full prospectus.

Business model, growth and scale of the raise

SpaceX operates across several high-growth verticals, including orbital launch services, Starlink satellite connectivity, and a range of artificial intelligence initiatives. The group has experienced rapid expansion in recent years and now ranks among the world’s most valuable privately held companies by estimated market capitalization.

The ambitious $75 billion fundraising goal highlights the enormous scale of SpaceX’s current and planned operations. If the deal closes as envisioned, it would mark the largest initial public offering ever measured by total capital raised, further consolidating the company’s position at the center of the commercial space economy.

PIF’s global ambitions and market implications

Saudi Arabia’s Public Investment Fund oversees more than $900 billion in assets, making it one of the most influential sovereign wealth entities on the planet. Its prospective role as a lead backer in the offering underlines both Riyadh’s diversification strategy and rising international interest in SpaceX’s transition to public ownership.

However, final outcomes will depend on how negotiations evolve, how markets respond to the eventual prospectus, and whether valuation expectations align with institutional demand. In any case, the potential combination of a $75 billion capital raise and a valuation above $1.75 trillion would put the SpaceX listing among the most consequential deals in modern equity markets.

In summary, SpaceX’s confidential SEC filing, the possible multibillion-dollar PIF anchor stake, and the unprecedented size of the planned capital raise together signal one of the most closely watched IPOs in recent financial history.

Trading is becoming more tightly integrated into messaging as the Telegram Wallet brings perpetual futures trading directly into the chat experience.

Telegram integrates derivatives trading into its wallet

Telegram is pushing deeper into crypto services as its built-in wallet feature, Wallet in Telegram, rolls out perpetual futures trading for users worldwide. The new function lets traders open and manage positions without leaving the app, which removes the need to switch platforms and streamlines the entire trading workflow.

This integration makes trading quicker and simpler for regular users who already spend time in Telegram. Moreover, it marks a significant step in blending messaging, payments, and trading into one environment, signaling how social platforms are evolving into full financial hubs.

Trading across more than 50 global markets

The updated wallet now offers access to more than 50 markets, including crypto, stocks, metals, and oil. Users can open both long and short positions, which means they can try to profit whether prices move up or down. In addition, trades can start with as little as $1, lowering the initial capital required.

This low threshold reduces the barrier to entry for new users who want to experiment with derivatives trading. However, the platform still highlights the need for caution. The system displays real-time data so users can monitor profit and loss statements, margin levels, and liquidation prices directly in the interface.

The experience remains deliberately simple since everything is embedded inside the Telegram app. That said, the team has tried to preserve a professional feel by offering the same core data points that more advanced trading platforms provide.

High leverage and built-in risk controls

One of the standout features is leverage. Users can trade with up to 50x leverage, enabling them to open larger positions while committing relatively small amounts of capital. However, this magnifies both potential gains and losses, as even minor price swings can rapidly impact a position’s value.

To help manage these risks, the wallet includes basic risk-control tools. Traders can set take-profit and stop-loss levels on each position, which can automatically lock in gains or limit losses when prices reach predefined points. Moreover, the platform places clear warnings about volatility and reminds users that leveraged trading can trigger swift and substantial losses.

Despite the inclusion of these tools, leveraged markets remain complex. That said, for experienced traders who understand margin and liquidation mechanics, the ability to manage positions inside a popular messaging app could prove attractive.

Decentralized infrastructure and custodial design

The trading engine behind the Telegram feature is powered by Lighter, a decentralized exchange focused on perpetual futures. Lighter handles trade execution and pricing, using what it describes as advanced systems to process orders quickly and securely for a wide range of assets.

The Telegram Wallet interface itself operates with a custodial structure during trading, meaning user funds are held and managed within the platform for the duration of their positions. However, the underlying trading layer leverages Lighter’s ZK-rollup infrastructure, which is designed to improve efficiency and scalability while still inheriting security from the base chain.

This hybrid model aims to blend the ease of a custodial trading wallet with the performance and transparency of decentralized infrastructure. Moreover, it is positioned as a way to offer on-chain settlement while preserving a user experience similar to centralized exchanges.

User reach, restrictions, and market context

The service targets Telegram’s reported 150 million wallet users, providing them with direct access to a crypto derivatives platform inside the app. However, users located in the U.S. and the U.K. are excluded from the feature, reflecting the stricter regulatory stance in those jurisdictions toward retail access to derivatives.

The integration follows a reported 300% growth in on-chain derivatives volume throughout 2025, underscoring how quickly this segment of the market is expanding. That said, the boom in high leverage trading has also drawn scrutiny from regulators and risk-conscious investors who worry about inexperienced users taking on excessive exposure.

Against this backdrop, perpetual futures trading inside a mainstream chat application is likely to attract both enthusiasm and criticism. Moreover, it will serve as a test case for how far messaging platforms can go in embedding complex financial products.

Impact on crypto adoption and user behavior

This launch signals a broader trend where perpetual futures trading and other advanced instruments are moving into everyday digital services. By adding derivatives to its wallet, Telegram exposes a massive global audience to trading tools that once lived only on specialist platforms.

For many users, this may be their first hands-on experience with crypto markets and leverage. However, easy access does not eliminate the need for strong risk education. The platform’s warnings and the availability of take-profit and stop-loss orders are helpful, but beginners can still misjudge volatility and position sizing.

In the broader picture, the development shows how messaging apps are rapidly transforming into multi-purpose financial interfaces. The new feature inside the telegram wallet indicates that chats, payments, and investing are converging in one place, accelerating mainstream exposure to digital assets.

Looking ahead

As more platforms embed trading directly into social and communication tools, the line between finance and everyday digital life will continue to blur. Telegram’s latest update illustrates how quickly this shift is unfolding, especially as derivatives volumes surge and infrastructure such as the lighter zk rollup matures.

For now, the perpetual futures product inside Wallet in Telegram brings a complex corner of the crypto market closer to users while raising fresh questions about regulation, investor protection, and the future role of messaging apps in global finance.

In the wake of a major DeFi attack, Drift Protocol has begun direct outreach over the drift exploit as investigators trace funds across multiple blockchains.

Drift targets hacker wallets with on-chain messages

On April 3, Drift Protocol escalated its response to the recent hack by sending on-chain messages to four Ethereum wallets holding the bulk of the stolen assets. According to blockchain data, these addresses together control roughly 129,000 ETH, tied to what has become one of the largest DeFi exploits of 2026.

The exploit drained an estimated $270 million to $285 million from the protocol, severely disrupting trading and liquidity conditions. However, the team now claims to have identified key parties linked to the incident and is publicly urging them to open a dialogue rather than remain silent.

The outreach was made from a known Drift-controlled address, which transmitted a standardized message to each of the four target wallets. Moreover, the move signals that the protocol is willing to explore negotiated resolutions, a path other crypto projects have taken in previous large-scale thefts.

Message calls for communication via Blockscan chat

The content of the message was concise. Drift told the wallet owners it is “ready to speak” and requested that they respond using Blockscan chat, an off-chain communication tool linked to Ethereum addresses. This mirrors prior cases where attacked projects sought to open a communication channel with hackers.

Historically, such efforts have produced mixed outcomes. In some high-profile hacks, dialogue led to partial or even full recovery of assets, sometimes under the label of a “white-hat” arrangement. That said, in other situations, attackers ignored messages and continued moving funds, leaving victims with little hope of restitution.

In this case, security teams and on-chain analytics providers are also examining whether the theft and subsequent transfers show patterns associated with organized cybercrime. However, any potential attribution remains unconfirmed, and the focus for now is on tracking flows and preserving evidence.

How the attack bypassed smart contracts

The drift exploit stands out because it did not rely on a traditional smart contract bug. Instead, it exploited a system-level weakness around Solana durable nonces, a legitimate feature that lets developers prepare and sign transactions in advance for later submission.

The attacker used pre-signed transactions that had been created weeks earlier, then managed to obtain partial control over the protocol’s multisig governance setup. With that influence, they disabled or bypassed several risk controls designed to protect user funds. Consequently, once safeguards were weakened, the hacker could drain capital from multiple vaults in rapid succession.

The entire operation unfolded quickly, resulting in the loss of more than half of Drift Protocol’s total value locked. Moreover, the event underscores how governance design and key management can be as critical as contract code in safeguarding DeFi platforms.

Cross-chain transfers and stolen ETH concentration

After emptying the vaults, the attacker did not leave the assets on Solana. Instead, they used cross-chain infrastructure to move the funds to Ethereum, converting a large share into ETH. On-chain data, highlighted by analytics firms like Arkham, shows approximately 129,000 ETH now distributed across four key wallets.

This pattern fits a broader trend where attackers use cross chain bridged funds to complicate tracking and recovery. However, such moves also create highly visible concentrations of value that can be watched in real time by exchanges, law enforcement, and independent researchers.

Despite active monitoring, there has been criticism from some community members over what they view as a slow operational response. Specifically, users have questioned why certain tokens or positions were not frozen sooner or hedged more aggressively once anomalous governance activity was detected.

Organized crime suspicions and ongoing investigation

Several industry observers have speculated about possible links between the attacker and known cybercrime organizations, especially given the sophistication of the governance take-over and transaction planning. That said, public statements from Drift and external security teams emphasize that there is no definitive attribution yet.

Law enforcement and private incident response groups are reportedly coordinating to follow the blockchain on chain message trail and the flows of the stolen ETH. Moreover, investigators are examining historical activity on the impacted wallets to see whether older transactions connect to previously flagged entities.

For now, Drift has committed to releasing more information once third-party audits and forensic reviews are complete. The protocol’s social channels, including its official X account, have been used to aggregate updates and reference key on-chain transactions for the community.

Impact on Drift, DRIFT token, and DeFi liquidity

The fallout extends beyond the protocol’s immediate losses. Recent data indicates that nearly 20 interconnected DeFi projects suffered knock-on effects from the incident. Some protocols temporarily paused services or restricted certain operations to prevent potential contagion and manage defi liquidity impact.

The native DRIFT token reacted sharply, posting a steep decline as news of the exploit and governance compromise spread. Market confidence in leverage and derivatives products on Solana also took a hit, reflecting broader risk reassessments by professional and retail traders alike.

However, it is important to note that Solana’s base layer continues to function normally. The breach occurred at the application and governance level, not due to a consensus or protocol failure. This distinction matters for long-term ecosystem perception and for investors evaluating smart contract risk.

Lessons for governance and security design

The attack highlights how even well-reviewed code can be undermined by weaknesses in governance structures, key sharing, and operational processes. In this case, the partial multisig governance compromise enabled the attacker to weaponize previously signed transactions and legitimate protocol features.

Security experts argue that more robust key rotation policies, tighter access controls, and real-time monitoring of governance actions could have limited the damage. Moreover, clearer incident playbooks and automated circuit breakers might help protocols react faster when abnormal changes in permissions or vault behavior occur.

As the investigation into the Drift Protocol exploit continues, the case is likely to become a reference point for risk frameworks and security reviews across DeFi. In summary, the incident underlines that code audits alone are not enough; resilient governance, key management, and cross-chain monitoring are essential to prevent similar large-scale losses.

Regulatory momentum around Coinbase national trust is accelerating as Washington and Wall Street converge on a new framework for digital asset finance.

OCC grants conditional national trust charter

Coinbase has received conditional approval from the Office of the Comptroller of the Currency (OCC) to establish the Coinbase National Trust Company. This decision pulls the largest U.S. crypto exchange under direct federal oversight and aligns Silicon Valley-style innovation with traditional banking supervision.

Under this new structure, Coinbase will operate as a National Trust Bank, not as a traditional commercial lender. However, the move still represents a major regulatory milestone for the U.S. digital asset industry, which has long sought clearer rules at the federal level.

Is Coinbase now a bank?

Despite the charter, Coinbase is not becoming a commercial bank. CEO Brian Armstrong has emphasized that the company will not take on the role of a retail depository institution. Instead, the trust company will specialize in fiduciary activities and institutional-grade services.

The charter authorizes Coinbase to provide fiduciary services, asset custody, and investment management across the United States under a single federal framework. Moreover, it replaces the previous patchwork of state-by-state licenses with one nationally consistent regime, simplifying compliance and operations.

What the OCC approval really changes

The OCC serves as the primary federal regulator for national banks and federal savings associations in the U.S. By issuing this charter, the agency is formally recognizing Coinbase as a federally regulated National Trust Bank, with all the oversight obligations that implies.

First, the new status delivers federal uniformity. Coinbase can offer custody services nationwide under consistent standards, rather than navigating divergent state rules. That said, the OCC charter does not turn the platform into a full-service retail bank.

Second, the approval positions Coinbase as an institutional magnet. Large investors that previously hesitated due to regulatory fragmentation now gain a federally overseen partner for digital assets. However, the trust is explicitly barred from taking retail demand deposits or engaging in fractional reserve lending, keeping it distinct from traditional commercial banks.

Strategic timing amid U.S. market structure reforms

The decision lands at a pivotal moment for U.S. crypto policy. Congress is advancing the CLARITY Act and other market structure bills that seek to define how digital assets are classified and supervised. With Coinbase now holding a federal trust charter, it gains a stronger voice in those debates.

At the same time, the company effectively secures a seat at the federal banking table just as institutional interest accelerates. Moreover, the alignment of legislative progress and bank-level regulation arguably pushes the fundamental strength of the crypto market to a new high.

Why this could fuel a powerful crypto bull cycle

The introduction of a federally chartered trust company within the Coinbase ecosystem is widely seen as a powerful signal for institutional adoption. For many large investors, coinbase occ approval functions as a regulatory green light they had been waiting for before deploying significant capital.

Pension funds, sovereign wealth funds, and major insurance companies often require robust, bank-like oversight before holding assets such as Bitcoin. As the market structure becomes more defined, barriers for these institutions to allocate trillions of dollars into crypto could meaningfully decline.

Institutional custody and scale

Coinbase has already established itself as a major player in institutional crypto custody. According to reports from the companys institutional blog, the new charter will focus heavily on custody, settlement, and related trust activities that cater to large clients.

As of late 2025, Coinbase held more than $370 billion in assets under custody. With federal trust status in place, that figure is widely expected to climb as institutions prioritize regulated partners for their long-term crypto exposure.

Building next-generation payment and settlement rails

Beyond storage of assets, the new framework opens the door to advanced crypto payment rails and settlement products. By working directly with the OCC, Coinbase plans to explore infrastructure that supports seamless, near-instant settlement of digital assets between institutional counterparties.

Such developments could eventually challenge legacy cross-border systems like SWIFT. Moreover, if successful, these rails may integrate with broader capital markets infrastructure, making digital assets a routine part of financial plumbing rather than a niche allocation.

Implications of a federal charter for cryptocurrency

The creation of Coinbase national trust under federal oversight underscores how far crypto has moved into mainstream finance. A national trust charter for a leading exchange would have seemed unlikely just a few years ago, yet it now anchors a new regulatory era.

In summary, Coinbase gains a unified federal platform for custody, fiduciary services, and settlement while lawmakers refine digital asset rules. That combination of regulatory clarity, institutional access, and technological experimentation could set the stage for the next phase of crypto market expansion in the United States.

ChangeNOW, a reputable crypto exchange platform that has spent nearly a decade championing user-controlled crypto assets, has officially opened its new regional headquarters in the heart of Dubai’s business district. This expansion marks a new chapter in the company’s history, transitioning from a global service provider to a localized, hands-on partner in the Arab world’s most ambitious tech market.

While much of the global crypto landscape has spent the last year reacting to economic volatility, ChangeNOW’s entry into Dubai is a proactive, long-term play. The company considers the UAE as a global crypto hub where advanced regulatory clarity meets a high-tier digital infrastructure. 

Beyond Digital Experience

After nine years of steady, exponential growth, ChangeNOW is moving beyond “digital-only” interactions. By establishing a physical home at Convention Tower, DWTC, the team is doubling down on building face-to-face trust with regional partners, liquidity providers, and the growing community of local Web3 developers.

According to Pauline Shangett, Chief Strategy Officer at ChangeNOW:

“True leadership is forged in challenging times. While the region navigates current complexities, ChangeNOW is here to provide the partnership it deserves. We trust in the people, technology, and spirit of the UAE. Establishing this office is our commitment to cementing this region as the world’s primary hub for digital innovation.”

What ChangeNOW Brings to the Region

As the Dubai office becomes fully operational, ChangeNOW is introducing its full-stack ecosystem to the local market, offering more than just simple swaps. The expansion aims to provide:

Unmatched Speed: Being recognized as one of the fastest exchanges and also being one among the most liquidity enriched platforms, giving access to 1500+ digital assets across 110+ blockchains and 70+ fiat options.  

A “User-First” Security Ethos: Unlike many custodial exchanges in the region, ChangeNOW’s non-custodial model ensures that users (and only users) ever have control over their private keys and funds.

API-first infrastructure for Business Partners: ChangeNOW offers a variety of white-label solutions, including: white-label exchange, wallet, payments and fiat-to-crypto ramps. 

Fostering a Local Innovation Hub

The new Dubai headquarters is being designed to be a landing pad for collaboration. ChangeNOW is actively seeking to engage with institutional partners and local tech talent to help integrate digital asset exchange technology into the UAE’s existing financial and retail platforms.

With the office now open, ChangeNOW invites local entrepreneurs and crypto enthusiasts to connect with the team directly at Convention Tower, DWTC to discuss the future of the decentralized economy in the Middle East.

About ChangeNOW

Since 2017, ChangeNOW has served over 8 million users globally. As a non-custodial platform, ChangeNOW prioritizes speed, security, and anonymity. It enables near-instant transactions across a vast library of assets without storing customer funds. Backed by a robust infrastructure that includes the NOW Wallet and fiat-to-crypto gateways, ChangeNOW remains a key link between traditional finance and the blockchain-powered future.

Media Contact:

ChangeNOW PR Team

CHN Group LL

pr@changenow.io

Markets are digesting a heavy pullback in Bitcoin price today, with traders weighing whether this is a controlled correction or the start of a deeper downtrend.

BTC/USDT — daily chart with candlesticks, EMA20/EMA50 and volume.

Top-down view: daily is corrective bearish, intraday is trying to build a bounce

Daily timeframe (D1) – bias: bearish corrective

On the daily chart, BTC closed near $67,221, below all the short- and medium-term moving averages provided:

Price vs EMAs: close $67,221 vs EMA20 $68,498, EMA50 $70,675, EMA200 $85,312.

Interpretation: price trading below the 20- and 50-day EMAs confirms a short-term downtrend. Being far under the 200-day EMA tells you how extended the prior upside was and how deep this corrective phase has become. The daily regime flagging as bearish is consistent with this: rallies are still more likely to be sold than chased.

RSI (14): 44.63.

Interpretation: momentum is weak but not oversold. We are under the neutral 50 line, which aligns with a bearish tilt, but there is no capitulation reading here. That leaves room for both a bounce and another leg lower; bears are in charge, but not at an extreme.

MACD: line -836.62, signal -633.85, histogram -202.77.

Interpretation: the MACD line is below the signal and both are below zero, which is classic bearish momentum. The negative histogram shows downside pressure is still present, though it is not exploding. Think of this as a market that has been sold for a while and is still heavy, but not in waterfall mode.

Bollinger Bands (20,2): mid $69,390, upper $74,441, lower $64,340.

Interpretation: price at $67,221 sits in the lower half of the band, above the lower band. That is consistent with a pullback within the band rather than a volatility blowout. The bands are relatively wide, reflecting the elevated volatility from recent selling, but we are not hugging the lower edge – more controlled bleed than panic.

ATR (14): $2,448.

Interpretation: daily ranges near $2,448 mean single-day swings of 3–4% are normal right now. Position sizing needs to respect this; chasing intraday noise is expensive when the background volatility is this high.

Pivot levels (classic, D1): PP $66,930, R1 $67,579, S1 $66,573.

Interpretation: the daily close is effectively on top of the main pivot. That tells you we are at a decision zone: hold above the pivot and short-term mean reversion can extend upward; lose it convincingly and the market opens room towards lower supports.

Putting this together, the main scenario on the daily is bearish/corrective. We are in a downtrend relative to the EMAs, momentum is negative, and the market is trading in the lower half of its volatility envelope. The edge for swing traders still leans to the short side unless we see a structural shift in momentum.

1-hour timeframe (H1) – bias: neutral with short-term bullish tilt

On the hourly chart, BTC is trying to bounce from support, which slightly softens the daily bearish bias but does not overturn it.

Price vs EMAs: close $67,166 vs EMA20 $66,851, EMA50 $67,096, EMA200 $67,696.

Interpretation: price is now above the 20- and 50-hour EMAs but still under the 200-hour. That is early-stage recovery behavior inside a broader down phase: short-term players are buying dips, but the longer intraday trend ceiling is still intact.

RSI (14): 56.19.

Interpretation: momentum has flipped back slightly positive on the hourly. This is the kind of reading you often see in a countertrend rally within a larger selloff. It is constructive for bulls, but not decisive.

MACD: line -69.75, signal -143.83, histogram 74.08.

Interpretation: the MACD line is still below zero but has crossed above the signal, with a positive histogram. That reflects a short-term momentum turn upward from negative territory. Bears are losing intraday control, at least for now.

Bollinger Bands (20,2): mid $66,811, upper $67,248, lower $66,375.

Interpretation: price is hovering around the upper band, which tells you this bounce is strong relative to recent hourly volatility. When that happens in the context of a daily downtrend, it is often either the start of a more meaningful squeeze higher, or just fuel for better short entries if it stalls.

ATR (14): $304.

Interpretation: average hourly swings of about $300 point to a choppy intraday tape. Stops that are too tight will get clipped easily.

Pivot levels (H1): PP $67,163, R1 $67,292, S1 $67,037.

Interpretation: price is pinned near the hourly pivot and flirting with R1. Staying above the hourly PP keeps the short-term bounce intact. Slipping back under S1 would show the recovery is running out of steam.

So the hourly chart shows buyers defending the lows and pressing toward resistance, but they are still working against a larger bearish backdrop.

15-minute timeframe (M15) – bias: short-term bullish, approaching overbought

The 15-minute chart is where you see the bounce most clearly. It is useful for execution, not for broad direction.

Price vs EMAs: close $67,168 vs EMA20 $66,843, EMA50 $66,787, EMA200 $67,116.

Interpretation: price is above all key intraday EMAs, which is short-term bullish structure. The 20- and 50-period EMAs are both sloping up. Short-term trend followers are in control on this timeframe.

RSI (14): 68.54.

Interpretation: momentum is pushing into overbought territory on this micro timeframe. That does not mean an immediate reversal, but it does say the bounce is getting crowded and vulnerable to a pause or pullback.

MACD: line 106.11, signal 41.96, histogram 64.15.

Interpretation: both the MACD line and signal are above zero with a positive histogram, a clear bullish intraday impulse. This is the strongest pro-bull evidence we have across the three timeframes, but again, it is the lowest timeframe.

Bollinger Bands (20,2): mid $66,758, upper $67,167, lower $66,349.

Interpretation: price is literally on the upper band. Short-term, BTC is riding the band higher. That is typical of a strong micro-trend, but also often followed by mean reversion if it stalls here.

ATR (14): $159.

Interpretation: typical 15-minute moves around $150 give you a sense of the noise floor. In this environment, tight scalps need fast execution; a few candles can easily swing $400–$500.

Pivot levels (M15): PP $67,168, R1 $67,170, S1 $67,166.

Interpretation: with price glued to the pivot cluster, the market is in a micro balance after a sharp move. The tape is waiting for the next push either into a continuation higher or a snapback.

The 15-minute tape is clearly bullish but stretched. It supports the idea of a bounce continuation, yet also warns against assuming a straight-line rally from here.

Market context: fear is extreme, but dominance is strong

Beyond the chart, Bitcoin dominance sits around 56.2% with total crypto market cap at roughly $2.39T, up about 1% in 24 hours. Dominance this high tells you capital is hiding in BTC relative to alts. When the market is this nervous – and the Fear & Greed Index reads Extreme Fear at 9 – that is typical: traders de-risk by moving from speculative alts into Bitcoin or stablecoins.

At the same time, total market volume is down nearly 19% over 24 hours. So we have slightly higher prices on lighter volume, classic for a bounce within a correction. It is not yet the kind of heavy, committed buying you would expect at a major cyclical low.

DeFi fee metrics show a significant cooldown in DEX activity over the last day across major protocols like Uniswap and Curve. That fits with a market in defensive mode, trading less aggressively and waiting for macro clarity.

Conflicting signals and how to read them

The picture is not perfectly aligned across timeframes:

Daily trend and momentum are bearish: price below EMAs, negative MACD, sub-50 RSI.

Hourly is neutral to mildly bullish: price above short EMAs, positive MACD histogram, RSI back above 50.

15-minute is short-term bullish but overheating: price on the upper band, RSI near 70, strong MACD.

So structurally, Bitcoin is still in a downtrend, but we are watching a live attempt to build a bounce off local support with sentiment washed out. That tension between timeframe signals is exactly where traders get chopped if they do not define what horizon they are trading.

Key levels to watch for Bitcoin price today

From a practical standpoint, here is how the current structure lines up:

Support / downside reference

Daily S1 pivot around $66,573 is first important support. Losing this opens the door toward the lower Bollinger Band area near $64,300–64,500.

The daily pivot at $66,930 is effectively the line between stabilizing and slipping back into pressure on the day.

Resistance / upside reference

Nearby intraday resistance clusters around the hourly R1 at $67,292 and the 200-hour EMA near $67,700.

On the daily, the 20-day EMA near $68,500 is the first serious trend test for any bounce. Above that, the 50-day EMA around $70,700 is the next battleground.

Main bias for now: bearish corrective with room for a tactical bounce

Given the indicators and structure, the primary scenario based on the daily chart remains bearish/corrective. The trend is down on the higher timeframe, even as shorter timeframes attempt a countertrend move.

However, extreme fear plus intraday bullish momentum argue that shorting blindly into current levels is late. Bears still have the structural edge, but they are now trading against a market that has already de-levered significantly and is starting to fight back on shorter timeframes.

Bullish scenario for Bitcoin price today

For the bullish path, think in terms of mean reversion, then potential trend repair.

What bulls want to see:

Price holds above the daily pivot area, around $66,900, and defends the first intraday supports on pullbacks, especially the hourly S1 region near $67,000.

On intraday charts, the 20- and 50-hour EMAs continue to act as a rising floor, with RSI staying mainly above 50 on the hourly.

BTC pushes through and sustains above the $67,700–68,000 pocket (200-hour EMA and above the upper hourly band), turning that zone into support.

Daily RSI starts to grind back above 50 and the MACD histogram tightens toward zero, showing that downside momentum is actually fading, not just pausing.

Upside potential if bulls execute:

Initially, the easier upside is a reversion to the 20-day EMA around $68,500. If price can establish acceptance above that, the next logical magnet is the 50-day EMA near $70,700, which would represent a more serious attempt at rebuilding the uptrend.

If we see strong, high-volume acceptance above the 50-day EMA, then the narrative moves away from bounce within a correction toward a genuine push back toward the prior highs. We are not there yet; that is the stretch bullish scenario.

What would invalidate the bullish case:

A decisive break and daily close below $66,500–66,600, under daily S1, that turns attempts to reclaim $67,000 into selling opportunities.

Hourly RSI rolling back under 40 with MACD flipping back to a strong negative histogram while price sits below all intraday EMAs.

A failure swing on the intraday bounce, for example a fast spike into $67,700–68,000 that gets rejected hard and slammed back into the mid-$66,000s.

Bearish scenario for Bitcoin price today

On the downside, the bears are playing from structural advantage, but they are now pushing into a fearful, increasingly illiquid environment.

What bears want to see:

Intraday bounce fails below the $67,700–68,500 resistance band, the 200-hour EMA and daily EMA20. These levels hold as a ceiling.

Price loses the daily pivot and trades steadily below $66,900, then slices through daily S1 around $66,573 with conviction.

On the daily chart, RSI remains stuck under 50 and the MACD histogram expands further negative, confirming a renewed leg down rather than just sideways drift.

The lower Bollinger Band area near $64,300–64,500 comes into play and fails to produce an aggressive bounce on first touch.

Downside potential if bears execute:

If BTC breaks the current support shelf and accelerates toward the lower band, the near-term risk is a move into the low- to mid-$60,000 region, where previous demand stepped in during earlier phases of the cycle. Given daily ATR around $2,448, such a move can happen in just a few sessions once support cracks.

What would invalidate the bearish case:

Multiple daily closes back above the $68,500 region, the 20-day EMA, with volume picking up, showing that the correction has been absorbed.

Daily RSI building and holding above 50, combined with MACD flattening and crossing back toward the signal from below.

Bitcoin establishing a stable range above $70,000, turning that zone into the new value area rather than just a spike high.

Positioning, risk, and how to think about Bitcoin price trends

Right now, BTC sits at an awkward intersection of signals: bearish trend on the daily, bullish momentum intraday, and extreme fear from sentiment. That mix can be rewarding if timed well, but it is also where traders easily overreact, shorting the lows on fear or buying the first bounce without a plan.

Two practical takeaways:

Define your timeframe clearly. If you are trading the daily trend, the market is still in a corrective down phase; rallies into the 20- and 50-day EMAs are the key areas to judge whether sellers still dominate. If you are intraday-focused, the path of least resistance right now is up within the day, but with stretched short-term momentum.

Size around volatility and respect levels. With a daily ATR near $2,448 and hourly ATR around $300, risk per trade can expand rapidly if you are not accounting for that. Key psychological and technical zones like $66,500–66,900 on the downside and $67,700–68,500 on the upside are where order flow is likely to concentrate.

In summary, Bitcoin price today is not in a clear all-in bullish or collapse regime. It is in a corrective downtrend with an active bounce attempt. The next decisive clue will come from how price behaves around the resistance band between roughly $67,700 and $68,500, and whether support around $66,500–66,900 can keep absorbing selling. Until one of those sides breaks convincingly, expect volatility, two-way trading, and a market that continues to punish overconfidence in either direction.

Market participants are closely watching Ethereum price news as ETH trades mid‑range during a phase of extreme fear and compressed volatility.

ETH/USDT — daily chart with candlesticks, EMA20/EMA50 and volume.

Daily Chart: Macro Bias Still Bearish

The daily timeframe sets the main scenario here, and it is bearish by regime, but not in freefall. Price is trying to base inside a broader downtrend.

Trend Structure – EMAs (Daily)

Price: $2,070.26

EMA 20: $2,082.35

EMA 50: $2,152.38

EMA 200: $2,720.40

Regime: bearish

ETH is trading below the 20‑day, 50‑day, and 200‑day EMAs. Short‑term trend (20 EMA) and medium‑term trend (50 EMA) are both above spot, while the 200 EMA sits far overhead, reflecting a longer‑term downtrend from the $2.7k area. This is a textbook bearish structure: rallies into $2.10–2.15k are still mechanically sell zones until price can reclaim them.

Humanly speaking, the EMAs say the path of least resistance is still lower. However, ETH is starting to crowd underneath short‑term averages where “bad news is priced in” often begins.

Momentum – RSI (Daily)

RSI 14: 48.65

RSI is sitting just under 50, right on the fence between bullish and bearish momentum. It is not oversold and not overbought. That aligns with the idea of a controlled downtrend rather than a panic dump.

In plain terms, bears still have the edge, but they are not pressing hard. There is room for ETH to move either way from here without running into momentum extremes.

Trend Exhaustion – MACD (Daily)

MACD line: -9.64

Signal line: -7.04

Histogram: -2.59

Daily MACD remains below zero and the line is under its signal, with a slightly negative histogram. That is consistent with a lingering bearish impulse, but values are small; the market is not in a strong downside momentum phase.

The read here is that bears are still in control on the higher timeframe, yet the sell wave is aging. It is more grind than crash, which is exactly when mean‑reversion rallies can surprise late shorts.

Volatility & Range – Bollinger Bands & ATR (Daily)

Bollinger mid: $2,119.22

Bollinger upper: $2,311.30

Bollinger lower: $1,927.14

ATR 14: $97.63

Price is trading below the Bollinger mid‑band but comfortably inside the bands, not hugging the lower edge. That confirms a bias lower, but without capitulation. The current band range ($1,927–2,311) brackets the likely swing extremes if conditions remain similar.

ATR around $98 signals moderate daily volatility. ETH is moving roughly 4–5% per day on average. It is active enough for traders, but not chaotic. Risk is real, but it is a tradable tape, not a crash tape.

Key Levels – Daily Pivot

Pivot point (PP): $2,062.03

Resistance 1 (R1): $2,083.40

Support 1 (S1): $2,048.89

ETH is sitting almost exactly on the daily pivot at $2,062. The first resistance at $2,083 lines up closely with the 20‑day EMA ($2,082), creating a congested decision zone just above spot. On the downside, initial support comes in at $2,049.

In practice, the daily map says that as long as ETH is stuck around $2.05–2.10k, the market is undecided. A clean break above $2.10–2.15k would start to challenge the bearish daily bias. However, losing $2.05k opens the door back toward the lower Bollinger region near $1.93k over time.

Intraday Picture: Short‑Term Bid Against a Weak Macro

While the daily chart leans bearish, lower timeframes show a subtle bullish undercurrent as traders buy dips around $2.05–2.07k.

1‑Hour Chart: Neutral Regime With Emerging Positive Momentum

Price: $2,067.91

EMA 20: $2,061.10

EMA 50: $2,070.12

EMA 200: $2,072.44

RSI 14: 52.77

MACD line: -3.36

Signal: -6.52

Histogram: 3.16

Bollinger mid: $2,058.21

Bollinger upper: $2,072.80

Bollinger lower: $2,043.62

ATR 14: $12.09

Pivot (PP): $2,068.23

R1: $2,071.68

S1: $2,064.47

Regime: neutral

On the 1‑hour chart, ETH is essentially glued to the short‑term moving averages. Price is slightly above the 20 EMA and just under the 50 and 200 EMAs, and the regime is marked as neutral. That is a sign of indecision and a market waiting for new information.

RSI around 53 tilts modestly to the upside, indicating a small intraday bid rather than aggressive selling. The MACD picture is more interesting: both MACD and signal are still below zero, but the MACD line has crossed above the signal, with a positive histogram. That is the early footprint of a short‑term momentum shift higher inside a broader downtrend.

Bollinger Bands on the 1H show price trading near the upper band ($2,072), which fits the idea of a mild intraday squeeze higher. ATR at about $12 means hourly candles are moving roughly 0.5% on average. This is enough for scalpers but not hinting at an imminent volatility shock on this timeframe.

The hourly pivot at $2,068 is being tested from below and above. With R1 at $2,072 and S1 at $2,064, ETH is coiling in a very tight intraday band. The tug‑of‑war is obvious: bulls are trying to nudge ETH above the hourly pivot and upper band, while the daily downtrend looms overhead.

15‑Minute Chart: Short‑Term Momentum Favors the Bulls

Price: $2,068.05

EMA 20: $2,061.48

EMA 50: $2,058.60

EMA 200: $2,071.08

RSI 14: 62.81

MACD line: 3.52

Signal: 2.42

Histogram: 1.10

Bollinger mid: $2,059.66

Bollinger upper: $2,071.35

Bollinger lower: $2,047.98

ATR 14: $5.74

Pivot (PP): $2,067.97

R1: $2,068.32

S1: $2,067.71

Regime: neutral

On the execution timeframe, ETH is clearly being bid intraday. Price is above both the 20 and 50 EMAs, with the 200 EMA just overhead at $2,071. The short‑term trend is up, but it is running straight into that 200 EMA cap.

RSI at nearly 63 shows firm bullish momentum without being stretched into classic overbought territory. MACD is positive and above its signal, with a positive histogram. That reflects clean, short‑term upside momentum.

Bollinger Bands are tight, with price pushing towards the upper band ($2,071.35). Combined with ATR around $5.7, this says the 15‑minute chart is in a controlled, upward grind: small candles, steady buying, and no sign yet of a violent reversal. However, there is not much room before intraday buyers hit resistance.

The 15‑minute pivot at $2,067.97 is essentially at spot, with R1 only a few cents above. That tiny pivot range reflects micro‑consolidation. Traders are clustering orders right where price sits, waiting for a breakout toward either the hourly R levels or back to support.

Market Context: Extreme Fear, Bitcoin‑Led Tape

The broader crypto market cap is about $2.39T, up just under 1% in the last 24 hours, while BTC dominance sits above 56%. That is a defensive allocation profile: money is hiding in Bitcoin and stablecoins rather than rotating into altcoins aggressively.

The fear & greed index at 9 (Extreme Fear) is crucial for the ETH story. Sentiment is washed out, yet ETH is not making fresh breakdowns. That combination often precedes relief rallies, but timing them is always the hard part. Until the daily trend structure flips, rallies are better described as squeezes within a downtrend rather than the start of a new bull leg.

Scenarios for Ethereum: What the Tape Is Really Saying

The daily chart defines the main scenario as cautiously bearish, with intraday timeframes attempting a counter‑trend bounce. Here is how that can evolve.

Bullish Scenario: Squeeze off Extreme Fear

For bulls, the setup is a classic “fear is maxed, structure is weak but stable” squeeze.

On the positive side, 1H and 15m momentum have already turned up: RSI above 50 on both, positive MACD crosses, and price holding or riding above short EMAs. If ETH can build acceptance above the cluster at $2,080–2,100 (daily R1 and 20‑day EMA), the market starts to read this as a failed breakdown.

A sustained push and hold above the 50‑day EMA near $2,150 would be the real inflection. That would:

Turn the short and medium‑term trend from outright bearish to neutral–constructive.

Likely drag daily RSI back above 50, confirming a shift in momentum.

Open up the top half of the Bollinger range, with $2,300 (upper band) as a logical medium‑term target.

Bullish scenario confirmation:

Price reclaims and holds above $2,100–2,150 on daily closes.

Daily MACD flattening and starting to curl higher toward zero.

Hourly pullbacks finding support at the 20/50 EMA instead of rejecting from them.

Bullish scenario invalidation:

A clean daily close below $2,050 (under daily S1 and below current consolidation).

15m/1h RSI rolling back under 40 with MACD turning negative again, showing that this intraday push was just short‑covering.

Price pinned back below the hourly and 15m EMAs with increasing ATR, signaling renewed impulsive selling.

Bearish Scenario: Trend Reasserts, Range Breaks Lower

On the downside, the daily trend still favors sellers, especially in a market dominated by BTC with alt risk appetite subdued.

If ETH fails to clear the $2,080–2,100 resistance pocket and intraday momentum stalls, the short‑term squeeze can easily unwind. A break back below $2,050, especially with hourly RSI dropping sub‑50 and MACD crossing bearish again, would signal that sellers are stepping back in.

From there, the next logical target area on the daily chart is the lower Bollinger band near $1,930. ATR suggests such a move would likely be a multi‑day slide rather than a single candle crash, unless external news injects fresh volatility.

Bearish scenario confirmation:

Daily close below $2,050, turning the current pivot area into resistance.

Daily RSI slipping decisively under 45, showing momentum swinging back toward sellers.

Hourly/15m EMAs rolling over with price holding below them, converting intraday structure back into a series of lower highs and lower lows.

Bearish scenario invalidation:

A decisive break and daily close above $2,150 (50‑day EMA) that holds on subsequent retests.

Daily MACD histogram shrinking toward zero, removing the lingering downside impulse.

ETH starting to ride the upper half of its daily Bollinger band, rather than oscillating below the mid‑band.

How to Read This Tape Now

Right now, Ethereum is in a macro downtrend with a short‑term bounce playing out against a backdrop of extreme fear. Daily signals (below all key EMAs, negative MACD, sub‑50 RSI) argue for caution. Intraday signals (1H and 15m strength, positive MACD crosses, RSI above 50) argue for patience before leaning too hard in either direction.

Volatility is moderate across timeframes: daily ATR near $100 and hourly ATR around $12 mean the tape can move, but it is not disorderly. That creates opportunity for both swing traders and intraday participants. However, position sizing and clear invalidation levels matter more than usual when sentiment is this fragile.

In practical terms, the key battleground is the $2,050–2,150 zone. Below it, ETH remains an asset in a controlled downtrend within a Bitcoin‑led, risk‑off market. Above it, the narrative shifts toward a relief phase where extreme fear has overshot fundamentals and price starts to mean‑revert higher.

No indicator can provide certainty here. The job is to recognize that higher timeframe bias is still bearish, short‑term momentum is trying to counter that, and volatility is at a level where both sides can be punished quickly if their timing is off.

For now, Ethereum is not in a clean uptrend or a crash. It is in a decision zone. The next break from this $2.05–2.10k coil will likely set the tone for the next leg in ETH’s Ethereum price news cycle.

As it races to reposition itself in digital infrastructure, MARA Holdings is reshaping its balance sheet and operations around its evolving MARA Bitcoin strategy.

Layoffs as MARA pivots from mining to AI infrastructure

In early April 2026, MARA Holdings (MARA) cut roughly 15% of its workforce as it shifts focus from traditional Bitcoin mining toward AI and energy infrastructure. However, management has framed the move as part of a longer-term transformation rather than short-term cost cutting.

CEO Fred Thiel confirmed the layoffs in an internal memo, reportedly calling the reduction “a strategic one” linked to the companys new direction. Moreover, he pointed to fresh partnerships with Starwood Digital Ventures and Exaion as the foundation for MARAs infrastructure-first model.

The job cuts affected multiple departments in several waves across early April, according to sources familiar with the process. That said, MARA has not disclosed division-level details, keeping the emphasis on its broader repositioning toward AI and high-performance computing capacity.

Headcount impact and severance terms

Per its Form 10-K, MARA reported about 266 full-time employees as of December 31, 2025. Therefore, a 15% workforce reduction implies that approximately 40 positions were eliminated as part of this restructuring round.

Affected employees received one month of paid leave through April 30, along with 13 weeks of severance. However, MARA has not publicly detailed any additional benefits, such as retraining or redeployment into new AI-focused roles, leaving questions about how aggressively it will retain technical talent.

Large BTC sale to retire convertible debt

Alongside the layoffs, MARA executed a major balance sheet move between March 4 and March 25, selling 15,133 BTC for approximately $1.1 billion. The company used the proceeds to repurchase 0.00% convertible senior notes due in 2030 and 2031, reportedly at roughly a 9% discount to par value.

This transaction reduced MARAs outstanding convertible debt by about 30%, cutting it from $3.3 billion to approximately $2.3 billion. Moreover, it marks one of the companys largest monetizations of digital assets to date, signaling a willingness to trade BTC upside for lower leverage.

The sale also reshaped MARAs treasury profile. The firms Bitcoin holdings dropped by 28%, sliding from around 53,822 BTC to 38,689 BTC over the period. That said, MARA still remains one of the largest publicly listed corporate holders of the asset despite this reduction.

Ongoing BTC liquidations and 2025 loss

MARA has indicated that further BTC sales are likely over the coming quarters. In its latest guidance, the company said it plans to sell Bitcoin “from time to time” throughout 2026 to fund operations and broader corporate initiatives. However, it has not provided a specific cap or schedule for these disposals.

The restructuring and asset sales follow a difficult financial year. MARA reported an approximate net loss of $1.3 billion in 2025, as post-halving economics compressed mining margins across the Bitcoin industry. Moreover, rising competition and power costs have pushed miners to seek more diversified revenue streams.

For investors tracking mara bitcoin metrics, the combination of heavy BTC liquidations and leverage reduction marks a significant strategic inflection. That said, the company is betting that lower debt and a larger focus on AI infrastructure will ultimately support more stable cash flows.

Expanding data center footprint for AI and HPC

Today, MARA operates 18 data centers across four continents with approximately 1.9 GW of total capacity. While Bitcoin mining remains part of its operations, the firm is increasingly targeting AI and high-performance computing (HPC) workloads as higher-value uses for its infrastructure.

The companys partnerships with Starwood Digital Ventures and Exaion fit into this pivot, providing capital access and enterprise relationships for AI-focused deployments. However, the long-term return profile of this model will depend on demand for AI compute and MARAs ability to secure competitively priced power.

In summary, MARA is simultaneously cutting staff, selling a substantial portion of its BTC treasury, and retiring debt as it chases growth in AI and HPC infrastructure. The outcome of this strategy will hinge on execution, the Bitcoin price cycle, and broader market appetite for energy-intensive compute over the next several years.

New safeguards on X aim to curb crypto-themed fraud as the platform rolls out x account locks to limit attackers exploiting trusted profiles for phishing schemes.

X introduces automatic suspensions for first-time crypto posts

Social media platform X, owned by Elon Musk, is deploying a new security system that will automatically suspend accounts the first time they post about cryptocurrency. However, affected users will be able to regain posting rights after completing an additional verification process designed to confirm legitimate control of the profile.

Nikita Bier, the platform’s Product Director, unveiled the initiative directly on X. He explained that the measure primarily targets cryptocurrency phishing and account takeover schemes, where hijacked profiles are used to promote fake token promotions and other scams to unsuspecting followers.

Bier argued that this model undermines the attackers’ business case. Moreover, he claimed the new system “should kill 99% of the incentive” for criminals relying on compromised social accounts to run fraudulent campaigns.

How attackers are exploiting user accounts

The announcement followed a widely shared account from a user who said they were locked out after responding to what appeared to be an official copyright infringement warning. However, the email linked to a counterfeit login page designed to harvest their username, password, and two-factor authentication details.

Once the attacker captured the credentials and authentication codes, they blocked the real owner from accessing the profile. They then used the compromised account to push fraudulent cryptocurrency schemes to its audience, taking advantage of the account’s established trust and reach.

These compromised account takeover incidents tend to follow a similar playbook. An intruder seizes control of a genuine profile, then promotes counterfeit memecoins, bogus airdrops, or so-called cryptocurrency doubling offers. That said, the legitimacy signaled by a real person’s history and followers significantly increases the chance that victims will engage.

Because cryptocurrency transfers are typically irreversible by design, funds sent to scam addresses cannot be retrieved once transactions are confirmed. Moreover, this irreversibility makes social engineering tactics especially lucrative for criminals.

Historical precedent: the 2020 Twitter crypto hack

One of the most infamous examples of this attack pattern emerged in 2020, when cybercriminals breached Twitter’s administrative systems. They gained access to several high-profile verified accounts, including Apple, Barack Obama, and Elon Musk.

The compromised profiles promoted a fraudulent Bitcoin giveaway promising to double any cryptocurrency sent to a specified address. The scam collected more than $100,000 in Bitcoin before it was shut down. Ultimately, the perpetrator received a five-year prison sentence, underscoring the legal risks associated with these operations.

However, the scale of damage from such incidents continues to motivate platforms like X to refine their protections. The new automatic suspension strategy reflects lessons learned from this and similar attacks, especially around how quickly scammers can exploit trusted accounts.

Platform-wide security push and auto-suspension strategy

X has pursued a broader campaign to limit scam activity across its network. Previous measures have included automated bot elimination drives, tighter API restrictions, and upgraded pattern-recognition systems to flag suspicious behavior before it spreads at scale.

Toward the end of 2025, X reported dismantling a corruption scheme tied to cryptocurrency scam operations. Banned users allegedly attempted to pay intermediaries who claimed they could bribe internal employees to restore suspended accounts, highlighting how far bad actors are willing to go to retain access.

The latest system of x account locks extends this security posture by intervening at what X sees as the scam’s origin point. When a hijacked profile cannot publish new cryptocurrency content without triggering an automatic account suspension, the value of that asset to cybercriminals drops sharply.

Bier stressed that X still wants genuine discussions about digital assets on the platform. However, he drew a clear distinction between legitimate debate and schemes that “create incentives to spam, raid, and harass,” which the new controls explicitly aim to limit.

Debate over responsibility and email-based phishing

Alongside X’s internal changes, Bier publicly criticized Google for what he described as inadequate gmail phishing protection. He argued that Gmail’s filters are allowing too many malicious messages, including copyright-themed lures, to reach users’ inboxes, where they can initiate credential theft.

According to Bier, stronger email defenses would significantly reduce the number of users exposed to these deceptive login pages in the first place. Moreover, that could complement X’s on-platform safeguards by constraining one of the primary attack vectors for cryptocurrency phishing prevention.

The new automatic controls on X are still under development, with a launch expected in the near future. That said, the company is signaling that cryptocurrency-related abuse remains a top security concern, and that it is willing to constrain new crypto posts temporarily if it means reducing large-scale fraud.

In summary, X is pairing tighter crypto messaging controls with broader security upgrades to disrupt social engineering campaigns. If the auto-suspension framework works as intended, it could make compromised profiles far less useful to scammers while preserving space for legitimate crypto discussion.

As Pi Network prepares for wider mainnet use, the project is rolling out a targeted pi network 2fa mandate to harden user protections before irreversible token transfers.

Mandatory 2FA added to the Mainnet Checklist

The project has introduced a key Pi Network security change for its users, known as Pioneers. From now on, two-factor authentication (2FA) is required to complete both first and second mainnet migrations, as part of the Mainnet Checklist.

Step 3 of the checklist now obliges users to configure 2FA on their Pi Wallet before any migration can proceed. Moreover, the process may require adding a trusted email address, which serves as a backup for verification and account recovery.

Once enabled, 2FA introduces an extra authentication step for sensitive actions. That said, the goal is simple: ensure only the account owner can confirm transactions and security changes, especially once real Pi tokens are prepared for transfer to the blockchain.

The team stressed that transfers on the mainnet are irreversible and immutable. Because there is no way to undo a confirmed transaction, the network is tightening protections before mobile-mined balances reach the blockchain.

How the new 2FA requirement works for migrations

To complete the first migration, Pioneers must finish every step in the mainnet migration checklist, including 2FA activation. The same applies to second migrations, which move remaining balances after the initial transfer.

According to a recent communication from the team, Pioneers must configure pi wallet two factor security through Step 3 before any real Pi can move. However, once that process is finished, future approvals become quicker while still benefiting from the extra security layer.

In practice, this means no mobile-mined Pi will reach the mainnet unless 2FA is active on the associated wallet. As a result, the network is embedding security directly into the migration pipeline rather than leaving it as an optional feature.

Security update follows rise in scam attempts

The tougher security stance coincides with a wave of scams targeting the Pi Network community. Many attackers have been using fake websites and messaging platforms to imitate official services and mislead users.

Some of these campaigns include fake staking site scams and fraudulent token swap offers. Moreover, several victims reported that the scam pages closely copied official branding, interfaces and language, making the traps harder to detect.

One widely shared warning from the PiNetwork DEX community highlighted an attractive but deceptive website linked through Telegram. However, behind the polished design, the features and numbers displayed were fabricated, with the real objective being to lure users into sharing wallet credentials.

In many cases, attackers try to persuade Pioneers to enter their wallet passphrase theft becomes straightforward once those words are revealed. After that, criminals can drain funds rapidly, with no recourse due to the immutable nature of blockchain transactions.

The community has also flagged suspicious QR codes and external payment requests that bypass official channels. Any operation that routes Pi through unofficial services now carries a high risk, which makes the strengthened pi network 2fa policy more than just a routine technical enhancement.

Ongoing network development and protocol upgrades

Alongside the security push, the broader Pi ecosystem continues to develop its core infrastructure. Node operators have recently upgraded to Protocol 21.2, a new version designed to improve performance and scalability across the network.

This node protocol upgrade supports higher throughput and prepares the system for anticipated future features. Moreover, it signals that the team is advancing both the technical and security foundations in parallel rather than treating them as separate tracks.

Mainnet migrations are also moving ahead in phases. First migrations remain the priority, ensuring that early balances can reach the blockchain under the new protections. Second migrations are being rolled out gradually, reflecting a measured approach to onboarding remaining mobile-mined Pi.

What Pioneers should do now

For everyday users, the next steps are straightforward. First, Pioneers should complete the entire Mainnet Checklist, confirming each requirement is met. Then, they must enable 2fa wallet protection before submitting any migration request to move tokens on-chain.

In addition, users should stay cautious online and avoid unknown links, unofficial apps or unverified websites. That said, they should never share wallet phrases or private keys, regardless of how convincing a message or website may appear.

Relying on official announcements and channels from the Pi Network team remains essential to avoid misinformation. As the ecosystem expands beyond 2024, security will increasingly define user trust. With the current pi network security update, the project is taking a firmer stance on protecting assets before wider mainnet adoption.

In summary, mandatory 2FA, stronger account verification, and ongoing protocol upgrades together show a coordinated effort: make Pi migrations safer while the network continues its step-by-step march toward a fully open mainnet.

Regulatory momentum is accelerating for Coinbase federal charter efforts as the US banking watchdog conditionally backs a new trust entity.

OCC issues conditional green light for Coinbase National Trust Company

The Office of the Comptroller of the Currency (OCC) has granted Coinbase (COIN) conditional authorization to establish Coinbase National Trust Company, a federally chartered trust institution focused on digital assets.

However, this new federal trust charter is tightly scoped. It covers only custody operations and market infrastructure services. The crypto exchange will not accept retail deposits or operate as a traditional fractional reserve bank under this approval.

Describing the move, Greg Tusar, Co-CEO of Coinbase Institutional, said the clearance brings “federal regulatory uniformity to the custody and market infrastructure business we have been building for years.” Moreover, it aligns Coinbase more closely with long-standing financial-sector supervision.

From New York state trust charter to national trust status

Coinbase submitted its national trust charter application to the OCC in October of last year. At present, the platform operates under a limited-purpose trust charter from the New York Department of Financial Services (NYDFS), which enables digital asset custody services via Coinbase Prime, its institutional arm.

The federal designation does not replace this New York framework. Instead, Coinbase’s existing state trust charter and BitLicense remain fully in force, and Coinbase, Inc. continues its NYDFS supervision without interruption. That said, the national charter materially elevates the regulatory status of its institutional platform.

The upgrade is significant for market positioning. Tusar highlighted that Coinbase is already the custodian for over 80% of the world’s digital asset ETFs, yet many asset managers and hedge funds still prefer to face entities with a national trust charter. This new framework is designed to meet that expectation.

In practical terms, the coinbase federal charter opens access to institutional counterparties that require federal oversight as a precondition for engagement, going beyond what a single-state trust authorization can provide.

Institutional scale and market share

Coinbase’s institutional division reported $245.7 billion in assets under custody as of June 2025. According to figures cited in its charter filing, this represents roughly 7% of the entire cryptocurrency market, underscoring Coinbase’s current weight in institutional crypto custody.

Moreover, the newly granted crypto custody charter is expected to broaden that footprint. The federal framework is anticipated to appeal to large asset managers, hedge funds, and other professional investors that seek a clearer supervisory regime for counterparty risk.

Outstanding steps before full approval

Conditional authorization is not equivalent to full operational approval. Before Coinbase National Trust Company can launch, the firm must hold its inaugural board meeting, adopt corporate bylaws, and finalize internal governance structures.

In addition, Coinbase must implement its payment infrastructure and successfully pass a pre-launch examination conducted by the OCC. Only after these conditions are satisfied will the federal trust become fully functional. However, Coinbase has publicly committed to working closely with regulators to complete every requirement.

During this interim phase, Coinbase’s NYDFS BitLicense operations and New York trust charter remain active and unchanged. The company continues serving institutional and professional clients through Coinbase Prime while preparing the new federally supervised platform.

Competitive landscape for federal crypto charters

Coinbase is not alone in pursuing a national trust status for digital assets. Late last year, the OCC issued conditional approvals to several crypto-focused firms, including BitGo, Circle Internet Group, Fidelity Digital Assets, Ripple, and Paxos.

Additionally, EDX Markets—backed by Morgan Stanley and Citadel Securities—has submitted an application for a federal trust institution. World Liberty Financial, described as the Trump family’s largest cryptocurrency initiative, has also entered the process. Together, these applications signal a growing race to secure federally supervised institutional crypto custody licenses.

Broader market infrastructure and payment use cases

The federal charter framework does more than formalize custody. It lays the groundwork for new payment solutions, settlement rails, and adjacent financial services aimed at institutional partners and, over time, retail users who rely on secure crypto infrastructure.

While Congress has advanced certain market structure bills, federal oversight of crypto custody entities has remained fragmented. This OCC conditional approval helps fill that regulatory gap for large-scale institutional services, without waiting for final legislative outcomes in Washington.

Ultimately, the conditional charter for Coinbase National Trust Company marks a pivotal step in bringing federally supervised standards to a large share of institutional crypto activity, while leaving its existing New York operations fully intact.

Traders on a leading crypto-native prediction venue are sharply repricing oil risk, with the wti hit 120 contract now central to the debate over future crude prices.

Polymarket reprices WTI crude risk for 2026

The prediction platform Polymarket now assigns a 65% chance that WTI crude oil futures will trade at $120 per barrel at some point in 2026. Moreover, the market’s implied probability has jumped 25 percentage points in the past 24 hours and 10 points in the last hour.

That repricing comes with WTI futures trading around $106 per barrel after a more than 6% daily move. However, escalating Middle East tensions and fears of supply disruption are now outweighing the impact of scheduled OPEC+ production increases, according to market observers.

How the 2026 WTI contract is structured

The specific market, titled “What will WTI Crude Oil (WTI) hit in April 2026?”, resolves based on an intraday high rather than a closing level. Under the rules, it uses one-minute candles for the active month WTI futures contract.

Under those parameters, the market resolves to “yes” if, at any point during the 2026 period, any one-minute candle for the active WTI month prints a high at or above $120. Otherwise, it resolves “no”. Moreover, there is a fallback to official daily highs from CME if oracle data becomes unavailable.

Key differences from earlier Polymarket oil contracts

Polymarket’s earlier WTI contracts, including a “Will Crude Oil (CL) hit by end of March?” market, were tied to the official settlement price of the near-month futures. In those structures, the reference was the last trading day of the relevant period.

In that earlier design, a “yes” outcome required the CME settlement price to be at or above the strike level on expiry. That said, this created a stricter condition than a single intraday move because an end-of-period fix had to clear the threshold.

By contrast, the new $120 market pays out if WTI touches the threshold at any moment in the year. As a result, it is more sensitive to short-lived volatility and headline-driven moves. Moreover, this adjustment aligns the oil contract with other Polymarket structures that key off one-minute candles.

According to the platform, that shift reflects a broader move toward higher-frequency oracle data for commodities and macro assets. However, it also makes outcomes more responsive to sudden intraday spikes and brief liquidity dislocations.

Oil risk repriced across prediction and derivatives markets

The jump to a 65% implied probability that WTI will trade at $120 mirrors a wider repricing of oil risk across prediction venues and derivatives. Analysis of crude markets indicates that traders now see elevated odds of WTI breaking into triple digits and sustaining high volatility.

In parallel, probabilities for $95 and $100 per barrel scenarios have also risen. Moreover, volume and open interest at higher strike levels have increased, signaling that more participants are positioning for extended price strength.

Polymarket’s role in oil price risk discovery

ChainCatcher reported that Polymarket plans to keep monitoring flows and adjusting odds as new information on supply, geopolitics, and demand emerges. That said, the platform’s fast-moving order books show how quickly real‑money prediction markets can react to macro shocks.

For macro traders and crypto-native investors, the WTI contract offers a clean way to express views on whether war risk and supply constraints will push prices from today’s roughly $106 area to $120 or beyond. Moreover, the wti hit 120 structure, tied to one-minute highs, allows participants to position directly around the likelihood of an intraday price spike before 2026 is over.

Overall, the evolving Polymarket oil contracts highlight how prediction platforms are becoming complementary tools for price discovery, translating shifting expectations on supply, demand, and geopolitics into transparent, real-time probabilities.

In a major supply reduction move, the team has detailed how the planned sonic tokens burn will affect unclaimed S locked in existing distribution contracts.

32.69 million unclaimed S set for permanent removal

Sonic Labs confirmed that approximately 32.69 million unclaimed S tokens will be permanently burned after October 15, 2026, removing this entire amount from circulation. Moreover, the project stressed that this is a hard deadline for claimants, as the tokens will no longer be recoverable once the burn is executed on-chain.

The unclaimed tokens are currently locked inside existing airdrop contracts that manage distribution to eligible users. However, once the deadline passes, the contracts will no longer function as a claiming mechanism and will instead allow anyone to initiate the destruction of the remaining balances.

Mechanism for the on-chain burn after the deadline

After the October 15, 2026 cutoff, any participant will be able to trigger the on-chain burn of the unclaimed S remaining in the airdrop contracts. That said, the ability to start this process does not restore any late-claim rights; it only finalizes the removal of tokens from the supply.

Sonic Labs emphasized that this permanent token burn is designed to ensure transparent and predictable tokenomics. Furthermore, the team clarified that the burn function will simply eliminate the balances and will not redirect any portion of the tokens to team wallets, treasury addresses, or new incentive pools.

No new airdrops or extra minting planned

According to Sonic Labs, there is no plan for additional airdrop minting tied to this existing S distribution program. In practical terms, this means that any allocation left unclaimed by the October 15, 2026 deadline will not be reintroduced later under a different campaign or relabeled as a fresh drop.

The team explicitly stated that no additional airdrops are scheduled as part of this initiative. However, they left open the possibility of separate future programs, which would follow their own parameters and would not reuse the S currently held by the legacy airdrop contracts.

What happens to the unclaimed token allocation

Once the deadline has passed, the token allocation unclaimed in the airdrop contracts will not remain idle in perpetuity. Instead, anyone can interact with the contract to initiate the function that completes the sonic tokens burn of the remaining S.

This design prevents a scenario where unclaimed S tokens sit locked indefinitely on-chain. Moreover, it gives the community a clear, verifiable timeline for when the tokens will cease to exist, reinforcing confidence in the protocol’s long-term monetary policy.

In summary, Sonic Labs has locked in a definitive framework: unclaimed S in the legacy airdrop contracts must be claimed by October 15, 2026, or they will be permanently removed through an on-chain burn, with no replacement minting or rollover into new airdrop programs.

Over the last year, Aster has transformed from a single-product derivatives venue into a broader trading platform, with aster chain at the core of its new infrastructure strategy.

From Perp DEX challenger to ecosystem builder

Over the past year, Aster has shifted from a standalone perpetual trading product into a dual-focus project centered on trading and infrastructure. Moreover, this evolution has been defined by three clear turning points that reshaped its trajectory.

First, during the rapid rise of the Perp DEX sector, Aster identified the right niche and captured structural opportunities. Trading volume continued to grow, repeatedly posting new highs across onchain perpetual markets and helping the project gain mindshare among derivatives traders.

Second, the project completed its TGE and a full brand upgrade, transitioning from APX to Aster. This was more than a name change. Instead, it reshaped product capabilities, market positioning, and external perception, while the successful TGE boosted awareness and valuation expectations.

Third, the launch of the Aster Chain mainnet marked a decisive move from a single trading product toward a full ecosystem. However, the core ambition went further, aiming to provide a trading infrastructure that blends onchain transparency with optional privacy features tailored to derivatives.

From an outcome perspective, these shifts show more than simple scale expansion. Rather, they reflect a transition from a trading platform into trading native infrastructure built specifically around onchain derivatives trading scenarios.

Decisions under doubt defined the real turning point

These milestones did not emerge from an easy backdrop. For Aster, the key turning point actually came before the brand restructuring and TGE, when uncertainty about the sector dominated internal and external discussions.

At that time, the market narrative largely centered on Hyperliquid, and many believed it would be difficult for any truly competitive challenger to break through in perpetual futures. Consequently, Aster’s TGE was not widely favored, and external valuation expectations stayed conservative for some time.

Internally, the team also debated whether to delay the TGE, as the product still had room for optimization before a full-scale launch. However, they ultimately chose execution speed over waiting for a perfect state, prioritizing real market feedback over theoretical ideal conditions.

In hindsight, this decision proved critical. The TGE significantly exceeded expectations and pushed the market to reassess the value and growth potential of the Perp DEX challenger segment within derivatives.

This experience led the team to a firm conclusion about early-stage markets such as onchain perpetuals. In such environments, there is no standard path or guaranteed optimal playbook, and many industry assumptions only apply once a sector has matured.

Moreover, in truly innovative niches, progress tends to rely on judgment and consistent execution rather than formulaic approaches. There are no shortcuts. What matters most are conviction in the chosen direction and the capacity to execute with focus over time.

Designing Aster L1 around onchain derivatives trading

If the previous phase centered on validating demand through live trading products, the launch of Aster Chain shifted attention to a deeper question: how to redesign infrastructure specifically for onchain derivatives trading from first principles.

From performance, security, and architecture perspectives, the differentiation of Aster L1 extends beyond faster blocks or stronger privacy. Instead, it is purpose-built from inception for onchain derivatives use cases rather than generalized smart contracts.

Compared with many general-purpose L1s, Aster emphasizes balancing trading performance, privacy protection, and verifiability. The goal is to retain user self-custody and onchain verifiability, while offering an execution experience that approaches centralized exchanges in speed and stability.

A core component of this design is a ZK-verifiable encryption scheme combined with a Stealth Address mechanism. For users who enable account privacy, the system generates a one-time address for each transaction, making it difficult to link multiple trades to the same underlying account.

This structure aims to prevent onchain profiling, position tracking, or strategy inference. However, Aster does not simply hide data. Instead, it leverages zero knowledge proofs to ensure that private transactions remain verifiable at the protocol level.

In practice, order details are not exposed onchain, but the trades themselves can still be validated. At the same time, users can selectively disclose and verify their full transaction history via a viewer pass, enabling audits or compliance checks when needed.

The essence of this model is to balance onchain transparency with meaningful trading privacy. Many chains choose either full transparency, making large or strategic accounts easy to track, or strict privacy, which complicates verification and regulatory alignment.

Aster instead targets a specific derivatives problem: preserving onchain settlement, auditability, and verifiability without sacrificing trader confidentiality. For example, hidden orders must always pass ZK verification, and when privacy mode is enabled, internal transfers between users are restricted.

That said, this framework shows that Aster does not pursue absolute anonymity. Rather, it is building controlled and verifiable privacy that can function for professional trading, compliance-conscious institutions, and retail users alike.

Performance tuned to trading rather than generic TPS

Aster’s approach to performance diverges from the usual public-chain narrative of ever-higher TPS numbers. Instead, it is grounded in actual trading behavior and derivatives workflows, where latency and confirmation speed matter more than theoretical throughput.

Aster Chain uses a PoSA consensus mechanism combined with a node aggregation engine and block pre-confirmation. Together, these components target a 50 millisecond block time, throughput up to 100,000 TPS, and a zero-gas experience for trading.

The focus is not on headline metrics alone, but on narrowing the gap between onchain trading and centralized exchange matching. For perpetual contracts and other high-frequency products, low latency, fast confirmation, and stable matching are more critical than broad smart contract flexibility.

Furthermore, Aster did not build a generalized L1 first and then add trading applications on top. Instead, it integrated the trading system directly into the base architecture, treating derivatives as a primary design constraint from day one.

The onchain clearinghouse manages margin balances and position states, ensuring that risk and collateral flow through a unified system. Meanwhile, each perpetual market runs its own independent order book, isolating liquidity while preserving global risk management.

The oracle framework aggregates data from 14 major exchanges to compute a weighted median price. This reference is used for mark prices, funding rate calculations, take-profit and stop-loss triggers, and liquidation decisions across the protocol.

From the beginning, Aster treated perpetual trading, margin management, and clearing logic as core infrastructure components rather than application-layer features. This high performance matching orientation is the key distinction between Aster and many general-purpose L1 chains.

From Perp DEX to L1: a different expansion path

Aster’s shift from Perp DEX to L1 ecosystem did not follow the traditional playbook of launching a chain, then looking for applications, and finally attempting to onboard users. Instead, it built infrastructure on top of already-proven trading demand.

For Aster, the competition is fundamentally about liquidity. For users, the ideal state is not having to care whether the underlying system is a CEX or DEX, as long as execution, pricing, and security remain robust and predictable.

In this sense, users of Aster’s perpetual trading product are already users of Aster Chain. The mainnet went live with an existing user base and revenue stream, rather than hoping to attract traders only after launch, which is a common problem in many infrastructure-first projects.

This path differs from conventional L1 strategies but aligns with a pattern seen in multiple successful projects in this cycle. Moreover, it reflects a preference for validating demand through real trading activity and real users before extending infrastructure upward.

Building on this foundation, Aster’s ecosystem strategy is now centered on constructing a developer-driven trading environment through Aster Code. The initial strategic partners include Binance Web3 Wallet, Trust Wallet, Safepal, Genius Terminal, Polarise, NOFA, Wallet V, ChimpX, and VergeX, which cover several key segments of the derivatives stack.

Aster Code and revenue-sharing trading infrastructure

Aster Code can be viewed as a revenue-sharing, onchain trading infrastructure layer. Its role is not limited to offering open interfaces; it also aims to lower the barrier to building trading products while enabling sustainable business models.

Developers can build their own trading frontends on top of Aster’s infrastructure and earn a share of Builder Fees generated by user activity. Moreover, Aster provides a complete set of APIs and core infrastructure, so teams do not have to develop their own matching engines.

By focusing primarily on front-end UI and user experience, products can launch faster and iterate more rapidly. That said, the system also requires users to explicitly authorize agent permissions and define Builder fee limits before trading, reinforcing transparency and user control.

This structure is complemented by real-time data monitoring, automated recording and settlement of fees, and a withdrawal mechanism that allows earnings to be claimed at any time. Together, these features form a practical aster code revenue model for builders and institutions.

From this angle, Aster’s appeal to developers and trading firms becomes clear. The project is attempting to combine performance, privacy, and monetization tools, enabling external teams to create their own derivatives products rather than merely plugging into another protocol.

Roadmap for the next 12 months

Over the next year, Aster’s direction appears relatively defined. The team has outlined several focus areas, with an emphasis on deepening the existing trading and infrastructure strategy instead of pivoting into unrelated narratives.

Key goals include attracting high-quality trading users, particularly those with privacy needs, professional traders, and institutions. Additionally, Aster plans to expand asset coverage and liquidity depth while scaling the ecosystem through both Aster Code and Aster Chain.

The project also aims to strengthen token utility and governance mechanisms to better align incentives. Furthermore, it will continue refining the trading experience, including UI and UX improvements that matter for active, high-frequency users.

Within the current roadmap, the clearest priority is further development of Aster Code. Its base layer is a high-performance matching and clearing engine, while the upper layer consists of open interfaces and streamlined developer access.

Aster wants to enable developers and institutions to build onchain derivatives products more efficiently while preserving performance, privacy guarantees, and cost competitiveness. However, the team is also exploring adjacent segments where onchain derivative traders naturally overlap.

Two areas stand out: prediction markets and AI-enhanced trading. Prediction market users share behavioral patterns with perpetual traders, creating cross-selling opportunities and similar liquidity profiles that can be leveraged across products.

For a project originating from derivatives, these adjacent sectors offer clear expansion potential. In the AI plus trading space, Aster’s strategy is to provide infrastructure rather than building its own AI models or customer-facing bots directly.

Currently, Aster has already introduced interfaces for AI agents, including Skills and MCP. Developers can use these tools to deploy AI-driven strategies and trading assistants on top of the chain, while the core protocol continues to iterate based on builder feedback.

The broader goal is to make the network not only user-friendly for human traders but also highly attractive for AI agents that demand deterministic execution, clear APIs, and reliable access to derivatives liquidity.

Building through cycles instead of predicting them

Regarding the current market cycle, the Aster team has deliberately avoided making bold predictions. Instead, its stance is that the only consistent way to navigate bull and bear markets is by sustained building and value creation.

Regardless of sentiment, the team believes the path toward the next ATH is rooted in survival, product improvement, and expanding real usage rather than trading macro calls. This philosophy has shaped decisions from TGE timing to infrastructure investments.

Looking back at the past year, Aster’s trajectory illustrates this approach. Rather than chasing fully validated narratives, the project operated in a competitive segment where consensus had not yet settled, using live products to test demand before widening its scope.

In hindsight, the sequence from trading volume growth to the TGE and brand upgrade, followed by the Aster Chain mainnet launch, represents more than feature expansion. It reflects the construction of a path from Perp DEX to full trading-native infrastructure.

Today, the core question is no longer limited to how to build a stronger onchain perpetual exchange. Instead, Aster is focused on pushing onchain derivatives trading into a broader, more mature phase, where zk verifiable privacy and purpose-built infrastructure can compete directly with centralized venues.

In summary, Aster’s first year in this new phase has laid the groundwork for a derivatives-focused L1 that blends performance, privacy, and developer-centric tools. The next challenge is scaling this model into a durable, multi-cycle trading ecosystem.