Blockchain prediction markets offer new hope for scientific validation
Opinion by: Sasha Shilina, PhD, founder of Episteme and researcher at Paradigm Research InstituteDecentralized prediction markets are gaining ground in the scientific world, offering an intriguing answer to the field’s ongoing reproducibility crisis. While a notable share of research findings fail to replicate in independent tests, supporters believe market-driven forecasting can speed up identifying robust studies. Detractors remain cautious, worried that introducing financial wagers could compromise the measured, peer-reviewed process that has guided academic inquiry for centuries. The debate hinges on whether blockchain-based forecasting will elevate or destabilize scientific credibility.Crowdsourcing predictionsDespite these concerns, recent developments point toward real promise. Platforms like Polymarket and Pump.science have shown that crowdsourcing predictions can help refine collective judgment in fields as varied as politics and longevity. This model is being adapted for science, where it could quickly flag dubious claims and reward reproducible ones. Although critics highlight potential market manipulation, decentralized science (DeSci) advocates argue that broad participation from multiple stakeholders could democratize the validation process, discouraging one-sided interventions by well-funded groups.The crux of the pro-market argument is the possibility of financial accountability for flawed or exaggerated studies. Under the conventional system, questionable research can remain influential for years before its shortcomings come to light. Market-based validation turns that dynamic on its head, issuing direct financial losses to those who bet on shaky findings. Of course, the same mechanism allows for the “shorting” of credible but lesser-known work. Supporters note, however, that transparent market structures and robust liquidity can mitigate the worst effects of speculation, putting a welcome dose of rigor back into funding decisions and public trust.Regulations and complexitiesRegulatory scrutiny adds a layer of complexity. Some jurisdictions still classify prediction markets as gambling or derivatives, limiting their growth without specialized approvals. The early experience of platforms like Augur underscores how legal uncertainties can dampen mainstream engagement. Recent shifts in digital asset regulation and greater public interest in scientific accountability suggest that, with the proper framework, a path toward legitimacy is possible. Proponents see this as an opportunity for policymakers to differentiate between purely speculative markets and those with clear societal benefits, such as improving research standards.Knowledge frameworksData integrity is another obstacle that innovators are tackling head-on. Oracles, which feed external results into blockchains, remain a weak link if they rely on unverified or manipulated sources. More advanced AI oracle networks are incorporating multiple data feeds and transparent auditing processes to overcome this. This, in turn, incentivizes labs and journals to adopt higher data reporting standards, knowing that the market’s collective intelligence would quickly expose fraudulent or incomplete information.Recent: Bitcoin price prediction markets bet BTC won’t go higher than $138K in 2025Some experts remain unconvinced that prediction markets alone can outperform traditional peer review. After all, scientific publication is based on specialized expertise, and markets often rely on overlapping pools of experts who may carry existing biases. Yet others counter that the financial incentive can serve as a powerful accelerant for truth, ensuring that the possibility of monetary loss balances any conflict of interest. Rather than replacing peer review, prediction markets could operate in parallel, catching oversight or misconduct that slips through editorial filters.For advocates, this blend of market-driven oversight and decentralized participation holds the greatest promise. With a growing number of platforms willing to host questions on scientific claims and major institutions increasingly alarmed by irreproducible research, the stage is set for a new era of rigorous public validation. The outcome remains uncertain, but the core idea — that a small bet can spark a significant reckoning — has won over many open-science supporters and decentralized finance innovators. If blockchain-based prediction markets continue to mature, they may become a key ally in restoring scientific credibility, offering a faster, more transparent form of discovery.Opinion by: Sasha Shilina, PhD, founder of Episteme and researcher at Paradigm Research Institute. This article is for general information purposes and is not intended to be and should not be taken as legal or investment advice. The views, thoughts, and opinions expressed here are the author’s alone and do not necessarily reflect or represent the views and opinions of Cointelegraph.
What are XRP futures and how to invest in them?
If you’re following developments in the cryptocurrency market, you’ve likely noticed that Coinbase Derivatives has introduced XRP futures contracts to its US derivatives exchange. This move is part of a broader trend where regulated platforms are expanding access to futures trading, giving investors new ways to engage with digital assets like XRP (XRP).But what exactly are XRP futures? And how do you get involved as an investor or trader?Let’s take a closer look.What are XRP futures?XRP futures are standardized financial contracts that allow you to agree to buy or sell XRP at a predetermined price on a specific future date. Rather than trading the actual token, you’re trading a contract that tracks the price of XRP.These contracts are overseen by the US Commodity Futures Trading Commission (CFTC), meaning they operate within a regulated framework. That adds a level of oversight and structure that appeals to many investors, particularly those wary of the risks tied to unregulated platforms.On April 3, 2025, Coinbase Derivatives announced it had filed with the CFTC to self-certify XRP futures contracts, and the contracts were launched on April 21, 2025.Types of XRP futures contracts offered by CoinbaseCoinbase’s offering includes:Nano XRP futures represent 500 XRP per contract, cash-settled in US dollars. These are designed for retail traders and smaller institutions, offering lower capital requirements while still providing exposure to XRP price movements.Standard XRP futures cover 10,000 XRP per contract, are also settled in USD, and are aimed at larger institutions and active traders.This variety lets you choose a position size that matches your risk tolerance and investment strategy. But what do terms like “cash-settled” actually mean?Both Nano and Standard XRP futures are contracts that let you trade based on the price of XRP — but you don’t actually own or receive XRP. You’re trading contracts that track XRP’s price.And, when the contract closes, the difference between your entry and exit price is calculated (profit or loss) and settled in USD — this is what cash settlement means. Did you know? Other products offered by the Coinbase Derivatives exchange include more than 20 futures contracts on assets such as Bitcoin (BTC), Ether (ETH), Dogecoin (DOGE), Solana (SOL), Chainlink (LINK) and Stellar (XLM).Why choose XRP futures contracts over buying XRP?You might be wondering why someone would choose futures over simply buying XRP on the spot market.Here are a few reasons:Leverage: Futures often allow you to control a large position with a relatively small amount of capital. While this can amplify gains, it also increases potential losses.Hedging: If you already hold XRP and expect short-term volatility, futures can be used to protect your portfolio.Speculation: Futures allow you to take both long (bullish) and short (bearish) positions, so you can potentially benefit from market moves in either direction.No wallet or storage needs: Buying XRP requires a secure wallet and managing private keys, which carries risks like hacking or loss. Futures contracts are financial instruments traded on exchanges, eliminating the need for direct XRP custody.Liquidity and accessibility: Futures markets often have high liquidity, making it easier to enter and exit positions. Some exchanges offer XRP futures with lower barriers than buying XRP on certain crypto platforms, especially in regions with regulatory restrictions.Cash settlement: Many XRP futures are cash-settled, meaning you settle profits or losses in fiat or stablecoins without handling XRP itself, simplifying the process for traders avoiding crypto custody.When to choose futures contracts:You want to trade XRP price movements with leverage or flexibility to go long or short.You prefer not to deal with crypto wallets or custody.You’re hedging an existing XRP position or portfolio.You’re comfortable with the risks and complexities of derivatives.When to buy XRP:You believe in XRP’s long-term value and want to hold it as an investment.You plan to use XRP for transactions or in its ecosystem (e.g., Ripple’s payment network).You want to avoid the risks of leverage and futures margin calls.Ultimately, futures suit active traders or those seeking leveraged exposure, while buying XRP could be ideal for long-term holders or users of the asset. You must always assess your risk tolerance and goals before deciding whether to invest in XRP or XRP futures.Did you know? The MarketVector™ Coinbase XRP Benchmark Rate provides a robust USD price reference exclusively for XRP traded on the Coinbase Exchange. It includes no other assets and no other exchanges — just XRP, just Coinbase.Where to invest in XRP futuresIf you’re looking to invest in XRP futures, there are several platforms (other than Coinbase) offering access depending on your location and trading needs.Kraken Futures: Kraken provides XRP futures with leverage. In Australia, access is limited to wholesale clients through Beaufort Fiduciaries Pty Ltd (AFSL no. 545124). In the United Kingdom, only clients classified as Professional Clients under Financial Conduct Authority rules can trade through Crypto Facilities Limited (FRN: 757895).Binance: Binance offers XRP/USDT perpetual futures contracts, allowing users to trade XRP without an expiry date. These contracts support leverage, giving traders flexibility in managing exposure. However, as of May 28, 2024, Binance no longer supports XRP as a margin asset under its “Multi-Assets Mode,” though XRP futures remain available in other trading modes.OKX: OKX also provides XRP/USDT perpetual swaps, which let traders speculate on XRP price movements continuously. While OKX delisted XRP expiry futures contracts in December 2024, perpetual swaps are still supported. Traders can apply leverage and adjust positions based on their risk strategy.Bitget: It is a globally accessible platform that offers XRP futures with options to take long or short positions. It features a user-friendly interface, making it suitable for both new and experienced traders, though availability depends on regional regulations.KuCoin Futures: KuCoin supports XRP perpetual contracts (XRP/USDT) with leverage. The platform is known for low trading fees and offers various features for different trading strategies. It’s accessible in many countries, with some regional restrictions.MEXC: It provides XRP futures in both USDt-margined and coin-margined formats. MEXC supports high leverage and offers educational tools, catering to traders of all levels. The platform is available in most regions, though users should check for local compliance.Delta Exchange: It lists XRP perpetual futures with leverage up to 100x. It’s known for low fees and advanced risk management tools. The platform is available to traders in several countries, depending on local laws.Bitfinex: Lastly, Bitfinex offers XRP futures as part of its broader derivatives portfolio. Its platform caters to advanced users with customizable strategies. Access is region-dependent, and traders must ensure eligibility based on their location.Did you know? Coinbase crypto derivatives are not available to retail clients based in the United Kingdom or Spain due to local regulatory restrictions. How to invest in XRP futures If you’re interested in trading XRP futures, here are general steps to get started:Choose a platform: Select a regulated exchange offering XRP futures, such as Coinbase’s US Derivatives Exchange. Create an account and complete identity verification, which typically involves submitting a valid ID and proof of address.Understand the product: Research how XRP futures contracts work, including contract sizes (e.g., Coinbase offers standard contracts of 10,000 XRP or nano contracts of 500 XRP), margin requirements, leverage options and fees. Futures are complex, so review the exchange’s documentation and understand risks, such as liquidation.Fund your account: Deposit USD or another accepted currency to use as collateral (margin) for trading. Check the platform’s minimum deposit and margin requirements. For example, Coinbase settles futures in USD, and you can fund via bank transfer or debit card.Place your trade: Use the platform’s trading interface (e.g., Coinbase Advanced) to select XRP futures contracts (symbol: XRL for standard XRP contracts on Coinbase). Decide whether to go long (buy) or short (sell), set your position size, and apply any leverage if available. Confirm the trade after reviewing details.Practice risk management: Futures carry high risks due to leverage and volatility. Set stop-loss orders, limit position sizes based on your risk tolerance, and avoid risking more than you can afford to lose. For instance, some exchanges pause trading if the underlying asset’s price moves over 10% in an hour to mitigate volatility risks.Monitor the market: Track XRP’s price, market sentiment, funding rates and external factors like regulatory news or macroeconomic trends. Use tools like candlestick charts or technical indicators on the platform to inform your strategy. Stay updated to adjust positions and avoid unexpected losses.Oregon targets Coinbase over XRP, cites securities violationsOregon’s Attorney General has sued Coinbase, claiming the exchange offered unregistered securities, including XRP. The lawsuit argues that a wide range of digital assets traded on the platform qualify as investment contracts under state law.State officials say the case is part of a broader effort to step in where federal enforcement has pulled back. Legal experts note that while the outcome won’t set a national precedent, it could influence how regulators and courts approach similar cases.The timing is notable — just weeks after the SEC dropped its case against Ripple and days after Coinbase listed XRP futures on its US derivatives exchange.Did you know? On March 25, 2025, Ripple Labs settled its long-standing legal dispute with the SEC. As part of the agreement, Ripple consented to pay a reduced fine of $50 million — down from the original $125 million — without admitting any wrongdoing.How risky are crypto futures?Futures trading offers opportunities, but it comes with significant risks — especially if you’re new to derivatives. Here’s what you should keep in mind:Leverage risk: While leverage can increase your returns, it also amplifies losses. A small price move in the wrong direction can quickly deplete your account.Volatility: XRP is known for its sharp price swings. Futures contracts can exaggerate the impact of volatility on your position.Funding rates: Perpetual futures contracts charge periodic funding fees, which can eat into profits if held long-term.Liquidation: If the market moves against you and your margin falls below the required level, your position may be automatically closed — often at a loss.Complexity: Futures are more complicated than spot trading. Understanding contract terms, funding rates and expiry dates is crucial to managing your trades effectively.Market liquidity: While XRP is a liquid asset, futures trading depends on active participation. Thin order books can lead to slippage and unexpected price movements.Emotional pressure: The fast-paced nature of futures trading can lead to impulsive decisions. Discipline and a clear strategy are essential.If you’re new to this type of trading, consider starting with a demo account or using nano contracts to reduce your exposure while you learn. Trade smart — your safety’s on you!This article does not contain investment advice or recommendations. Every investment and trading move involves risk, and readers should conduct their own research when making a decision.
Institutions break up with Ethereum but keep ETH on the hook
Ethereum is entering one of its most precarious periods since its inception. Usage on the base layer is plummeting, core metrics are nearing multi-year lows, and even co-founder Vitalik Buterin is proposing a radical architectural overhaul. Institutions aren’t waiting to see how it plays out. Blockchain data shows that long-time supporters such as Galaxy Digital and Paradigm have been slashing their Ether (ETH) holdings in recent weeks. So far in April, Ethereum’s base-layer activity has continued to collapse. Ethereum’s network fees are dropping, and inflation has been rising. Though layer-2 networks continue to develop, they’re cannibalizing the base layer’s value capture.But the story isn’t entirely about Ethereum’s collapse. Some whales are treating this downturn as a rare buying opportunity. Even those who are selling Ether can’t fully let it go.Ethereum gets dumped by institutions, but for how long?Institutions are dumping Ethereum, but it’s the ex they keep checking on. It’s not entirely out of the picture — just benched while they explore options like Solana (SOL).In recent weeks, blockchain analysts on the lookout for large crypto movements spotted several institutions moving ETH out of their tagged wallets, likely to sell. Lookonchain reported that Galaxy Digital deposited 65,600 ETH ($105.5 million) to Binance. The investment firm’s Ether exposure rose to as high as around 98,000 coins in February, but that has dropped to almost 68,000 ETH at the time of writing, Arkham data shows.Galaxy dumps Ether, but not all of it. Source: ArkhamGalaxy’s holdings may have declined in recent weeks, but they’re still higher compared to the start of the year. Its Ether holdings reflect a broader trend seen in Ethereum-based investment products. According to CoinShares, ETH funds saw $26.7 million in outflows over the past week, bringing total outflows to $772 million over eight weeks. However, year-to-date flows remain positive, with $215 million in net inflows. As Galaxy trimmed its Ether holdings, it also withdrew 752,240 SOL ($98.37 million), Lookonchain reported. Ethereum lost considerable momentum to Solana, which became the chain of choice during the memecoin casino frenzy that dominated much of 2024 and early 2025. While that eventually cooled amid rampant scams, bots and low-quality tokens, it also served as a technical showcase for Solana — proving its ability to process massive transaction volumes without major fee spikes or outages.Related: Pump.fun’s memecoin freak show may result in criminal charges: ExpertParadigm is another investor that has cut back on Ether. On April 21, it moved 5,500 ETH ($8.66 million) to Anchorage Digital. Paradigm transferred around 97,000 ETH (around $301.57 million) to Anchorage from January 2024, which was then moved to centralized exchanges, as onchain analyst EmberCN pointed out.Paradigm Capital held about 236,000 ETH in 2019 but holds 2,873 ETH on April 23. Source: Arkham“While institutional investors initially bought into the ‘ultra-sound money’ narrative, they’re now facing a reality where decreasing protocol revenue and weakening tokenomics create legitimate concerns,” Jayendra Jog, co-founder of Sei Labs, told Cointelegraph.Ethereum returns to net inflationary stateEther deflation has been an attractive selling point to Ethereum investors. It was integrated into the network through two major upgrades. First, the London hard fork of August 2021 introduced Ethereum Improvement Proposal 1559, which partially burns transaction fees. Then in the Merge upgrade of September 2022, Ethereum became a proof-of-stake network and drastically cut new token issuance.Ether’s supply consistently decreased following the Merge until April 2024, when Ether’s inflation began to accelerate. By early February 2025, the total ETH supply had surpassed its Merge level.Ether’s total supply is approximately 186,705 ETH higher than it was at the time of the Merge. Source: Ultra Sound MoneyPart of Ether’s inflation has been due to dropping fees, which results in less Ether burned. According to data from IntoTheBlock, Ethereum collected 1,873.52 ETH in fees from April 14 to April 21. That’s slightly higher than the 1,697.61 ETH in fees from the week starting on March 17, which was the lowest amount of fees collected (measured in ETH) since July 31, 2017.Ethereum base layer’s fees drop to 2017 levels. Source: IntoTheBlockButerin’s radical RISC-V proposal for EthereumOn April 20, Buterin proposed the RISC-V instruction set to substitute the current Ethereum Virtual Machine contract language, aiming to improve the speed and efficiency of the network’s execution layer. Some view the proposal as a white flag on the existing architecture.Source: Rooter“Vitalik’s RISC-V proposal is essentially an acknowledgment that the EVM’s fundamental architecture has reached its limits. When Ethereum’s founder proposes replacing the core VM that underpins the entire ecosystem, it signals not evolution but recognition of a design limitation that can’t be incrementally improved,” Jog said.Cointelegraph has reached out to the Ethereum Foundation and will update this article when it answers.Related: A guide to crypto trading bots: Analyzing strategies and performanceThe proposal follows a leadership shuffling in the Ethereum Foundation following rising complaints on the project’s direction. Could Ethereum be the one that got away?Part of Ethereum’s struggles has been attributed to its rollup-centric approach to scaling its network. The idea was to build layer-2 scaling networks that would offload the transactions from the base chain but still utilize its security. That has alleviated congestion issues during times of high network demand but has also created new problems of its own, such as dropping Ether burns and fragmentation of the Ethereum ecosystem.But there is an increased focus on layer-1 scaling, according to Tomasz Stańczak, the new co-executive director of the Ethereum Foundation. Stańczak said on X that the Ethereum Foundation will shift its focus to near-term goals, such as layer-1 scaling and layer-2 scaling support.Source: Tomasz StańczakSome whales have taken advantage of Ethereum’s cheaper price tag. On April 23, Lookonchain identified two wallets accumulating millions of dollars worth of ETH. The blockchain monitor identified another wallet on April 22 that has accumulated over $100 million in ETH since Feb. 15. Ether is currently down from the plus-$4,000 it reached in December but rose over 10% on April 23 to over $1,800. In a recent client letter, Standard Chartered Bank slashed its 2025 price estimate for Ether from $10,000. However, for whales accumulating at current levels, upside potential remains, as the bank still predicts a year-end target of $4,000.Geoff Kendrick, the bank’s head of digital assets research, attributed the more cautious outlook to Ethereum’s structural decline, noting that the layer-2 networks designed to improve scalability are now extracting much of the fee revenue once captured by the base layer.Magazine: What are native rollups? Full guide to Ethereum’s latest innovation
Ubisoft taps Immutable to launch Web3 card game ‘Might & Magic: Fates’
Gaming giant Ubisoft has partnered with Web3 firm Immutable to launch Might & Magic: Fates, a blockchain-powered strategy card game set in the Might & Magic universe.According to a news release shared with Cointelegraph, Might & Magic: Fates blends classic strategic gameplay with modern blockchain technology, offering players digital ownership through Immutable’s Web3 infrastructure.The game will launch on iOS and Android. The title introduces fresh mechanics, faction-based strategies and a wide array of legendary heroes and creatures.Players can collect, trade, and customize decks using hundreds of cards, crafting unique strategies in a competitive environment where success is driven by skill and tactical decision-making.Immutable co-founder Robbie Ferguson teases major announcement. Source: Robbie Ferguson“The game is free-to-play with no hard progression barriers. Players advance by collecting cards and in-game currency through gameplay,” Justin Hulog, chief studio officer for Immutable, told Cointelegraph.“Additionally, those looking to speed up their progression or acquire specific cards can do so through marketplaces,” Hulog said.He added that players will have the ability to trade the digital collectible cards they own using dedicated platforms.Related: SEC closes investigation into Immutable nearly 5 months after Wells noticeImmutable to provide blockchain backboneImmutable, a leading Web3 gaming platform, will provide the blockchain backbone for the project.The firm is known for hosting titles like Gods Unchained and Guild of Guardians, both designed to give players true ownership of in-game assets through blockchain technology.Gods Unchained is a free-to-play NFT trading card game where players collect, trade, and battle using unique, player-owned cards. It runs on Immutable’s gas-free layer-2 solution and is transitioning to Immutable zkEVM for enhanced functionality.The card anatomy of Gods Unchained. Source: Gods UnchainedGuild of Guardians is a mobile RPG where players assemble NFT-based teams of heroes to battle in dungeon raids.Ubisoft has been among the few video game publishers that have incorporated crypto elements into their games.Related: How Web3 can change gaming without changing how gamers playIn October 2024, the firm announced the release of its first game incorporating Web3 technology. Dubbed Champions Tactics: Grimoria, the game was deployed on the Oasys layer-2 Home Verse, a blockchain-powered ecosystem for Web3 gaming.Later in December 2024, Ubisoft and the Arbitrum Foundation announced the launch of Captain Laserhawk: The G.A.M.E., a Web3-enabled top-down shooter. The game is set in the Ubisoft gaming universe and features a cast of characters from titles including Far Cry: Blood Dragon, Rayman, Assassin’s Creed, Beyond Good and Evil, The Crew, Rainbow Six, Splinter Cell and Watch Dogs.Magazine: XRP win leaves Ripple and industry with no crypto legal precedent set
Here’s how HEX’s Richard Heart beat SEC fraud charges
Richard Heart, the controversial founder of HEX, is claiming total victory over the US SEC after years of court battles.On April 21, the SEC said that it would not amend and refile its fraud case against the former child actor and crypto evangelist. A court had dismissed the SEC’s fraud charges against Heart on Feb. 28.Heart announced on X that HEX had obtained a victory very few crypto projects could boast: “Richard Heart, PulseChain, PulseX, and HEX have defeated the SEC completely and have achieved regulatory clarity that nearly no other coins have.”HEX may be out of hot water with American securities regulators (for now), but Heart still faces charges in Europe, where he is wanted both for alleged tax fraud and for alleged assault on a minor. Richard Heart, real name Richard James Schueler, is still on Interpol’s wanted list. Source: InterpolSEC claimed Heart used HEX to defraud investorsIn July 2023, the SEC filed a complaint against Heart, whose real name is Richard James Schueler, along with HEX, HEX’s layer-1 blockchain project, PulseChain, and the decentralized exchange (DEX) for the PulseChain network, PulseX. The SEC made a number of allegations, including securities fraud and securities registration violations. It asked the court to bar Heart and his projects from participating in any sort of crypto asset security offering and to give up “all ill-gotten gains received as a result of the violations alleged.”The complaint noted Heart’s repeated claims that HEX could offer incredible rewards to make investors rich. It also wrote that Heart spent over $12 million of proceeds from HEX offerings on luxury goods such as watches, sports cars and a 555-carat diamond ring.Indeed, Heart is no stranger to the finer things in life. His celebrity is in part due to his frequent displays of wealth. In one video on X, he flaunted Louis Vuitton cases filled with dozens of luxury watches that he said were worth 9 million euros. Richard Heart wears four Rolex watches. Source: Luxury BazaarHeart’s court case came down to jurisdiction. Last year, his legal team filed a motion to dismiss the case on the grounds that the SEC failed to show that any activities had occurred within the United States. The SEC protested the motion. Ultimately, US District Judge Carol Bagley Amon agreed with Heart (the HEX founder does not live in the US), and she ruled that the statements regarding HEX’s price were targeted to a global audience — not US investors.“The alleged misappropriation occurred through digital wallets and crypto asset platforms, none of which were alleged to have any connection with the United States,” Amon stated.Finnish authorities want Heart on tax and assault chargesHeart claims that this legal victory provides new ground on which the crypto industry can thrive, creating a legal precedent that supposedly makes HEX safer to work with than any other crypto project.Heart and HEX may not face American securities regulators, but he is still in hot water with Finnish authorities over alleged tax evasion and assault.In September 2024, Finnish media wrote that Heart, who was reportedly residing in Helsinki, was remanded into custody in absentia. Finnish investigators, at the request of the country’s tax authorities, were investigating Heart and reportedly found that Heart’s income reporting did not match the tax service’s estimates.Helsinki police detective Harri Saaristol said, “Based on the very considerable amount of money in question and the long-term and planned nature of the activity, there are grounds to suspect gross tax evasion.”Related: Interpol issues ‘Red Notice’ for Hex founder Richard HeartIn the course of their investigation, Finnish police seized millions of euros worth of luxury watches from a residence in the city of Espoo near Helsinki. Europol also stated that Heart (referred to as Schueler in the report) is wanted for assaulting a minor. “Schueler physically assaulted a 16-year-old victim by grabbing their hair, dragging them into the stairwell and knocking them to the ground.”The allegations together have earned him a profile on Europol and Interpol’s most wanted criminal lists. Investigations are ongoing. How long can HEX keep it up?It seems Heart dodged US regulation because the SEC lacked jurisdiction rather than evidence. So, how long can he keep HEX going?Industry observers and analysts have long claimed that HEX was a new form of Ponzi scheme, namely due to the promises of a whopping 38% annual percentage yield, larger profits for onboarding new users and the fact that Heart owned some 90% of HEX tokens.Despite a number of committed acolytes on social media, the token seems all but dead. HEX’s price pumped briefly on news of the SEC dismissal. Zooming out, it’s barely moved since Heart’s legal troubles with the SEC began.At publishing time, HEX’s price is $0.002253; 24-hour transaction volumes barely top $250,000. HEX’s price spiked in 2021 before nearly falling off by early 2023. Source: CoinMarketCapMagazine: Former Love Island star’s tips on how to go viral in crypto: Van00sa, X Hall of Flame
PayPal to offer 3.7% yield on stablecoin balances: Report
Payments behemoth PayPal plans to offer a 3.7% yield on balances held in its PayPal USD stablecoin.According to an April 23 Bloomberg report, a PayPal representative said that the measure aims to encourage more usage of the firm’s stablecoin. The program is expected to launch this summer, and the rewards will also be paid out in PayPal USD (PYUSD).Users will be able to exchange PYUSD for fiat currency, spend it or send it to other users. The rewards will accrue daily and will be paid on a monthly basis. The company hopes this feature will lead to a higher predominance of stablecoin and crypto payments on its platform.The report follows PayPal USD reaching a $1 billion market cap in the summer of 2024. As of publication, the stablecoin’s market cap is nearly a quarter lower at $873.3 million.PayPal USD’s market cap chart. Source: CoinMarketCapTzahi Kanza, CEO of crypto investment firm Syndika, told Cointelegraph that “from a regulatory standpoint, PayPal must ensure that offering interest doesn’t cause its stablecoin to be classified as a security. “When it comes to financial risks for the users, he said that PayPal can keep its promises, and the main risk is losing the peg to the dollar rather than interest-related issues. He said:“Stablecoins that don’t offer yield are generally not considered securities. However, yield-bearing stablecoins may fall under that classification.”Related: PayPal’s Xoom launches cross-border stablecoin settlementPayPal is betting on cryptoPayPal is betting on blockchain technology with its continued product development. Reports from earlier in April show that PayPal has expanded its cryptocurrency offerings to include Chainlink (LINK) and Solana (SOL), giving US-based users the ability to buy, sell and transfer the popular tokens.In fact, PayPal was cited by Polygon Labs CEO Marc Boiron as one of the catalysts for the stablecoin industry’s rapid growth in recent years. In an interview with Cointelegraph, Boiron said, “Companies like Stripe and PayPal integrating stablecoins is likely the primary catalyst for their growth.”Related: PayPal, Ernst & Young settle first corporate payment via PYUSD stablecoinThe story of PayPal USDPYUSD is a US dollar-pegged stablecoin issued by Paxos Trust Company on behalf of PayPal in August 2023. At the time of the launch, PayPal became the first major payment network to launch its own stablecoin, with Venmo rolling out support in September 2023.Each token is purportedly backed one-to-one by cash deposits, short-term US Treasury notes and similar cash-equivalent assets in accounts overseen by the New York State Department of Financial Services. Initially, PYUSD was a token compliant with the ERC-20 Ethereum standard, but has since also been deployed on Solana (SOL).PayPal USD’s current market cap is still a far cry from the top stablecoin, Tether’s USDt (USDT). At the time of writing, CoinMarketCap data shows that USDT’s market cap stands at $145.3 billion, over 17,255% higher than PYUSD’s. Kanza said that “Tether’s strength lies in its market dominance — not in its regulatory compliance, transparency, or yield” since it does not offer those. He added:“To compete effectively, targeting these three areas — compliance, transparency and returns — would be a smart strategy [for PayPal.]“Magazine: Chinese Tether laundromat, Bhutan enjoys recent Bitcoin boost: Asia Express
New SEC chair ‘will be good for Bitcoin’ — Michael Saylor
Michael Saylor, the CEO of top corporate Bitcoin holder Strategy (formerly MicroStrategy), expressed support for newly appointed US Securities and Exchange Commission (SEC) Chair Paul Atkins.In an April 23 X post, Saylor wrote that “SEC Chairman Paul Atkins will be good for Bitcoin.” The statement follows Atkins’ swearing-in as the 34th chairman of the SEC on April 21.Source: Michael SaylorBlue Macellari, the head of digital assets at investment firm T. Rowe Price, also commented positively on Atkins’ swearing in during a recent Bloomberg interview. She seemed hopeful and recognized a change in how the SEC has acted under the new administration, particularly with crypto-related information, including “close to six or seven roundtables” with industry professionals. She said:“I think that that’s gonna feed into the ability to make thoughtful and considerate policies.”Vincent Liu , chief investment officer at crypto investment firm Kronos Research, told Cointelegraph that “under Chair Atkins, finalizing custody rules for digital assets is expected to provide the investor protections that institutions demand.” Other issues expected to be resolved are clarification on whether some digital assets are securities or commodities:“Together, these two moves will help establish clear custody standards and bring much-needed clarity paving the way for the next wave of crypto product innovation.”Related: SEC and feds charge man over $200M crypto trading schemeWho is Atkins, and what does he mean for crypto?Accolades from representatives of the crypto industry readily followed Atkins’ appointment by US President Trump in late 2024. Bitwise Asset Management general counsel Katherine Dowling said at the time that he is a “great choice,” and Ripple Labs CEO Brad Garlinghouse said that he “will bring common sense back to the agency.”Not everyone was happy with the choice. Massachusetts Senator Elizabeth Warren said during Atkins’s nomination hearing that he had had “staggeringly bad judgment” in his role as a SEC commissioner leading up to the 2008 financial crisis. Atkins served at the agency from 2002 to 2008.She also raised an issue with his consulting firm, Patomak Global Partners, which had advised the crypto exchange FTX before its 2022 collapse. Warren said:“Your clients pay you north of $1,200 an hour for advice on how to influence regulators like the SEC, and if you’re confirmed, you will be in a prime spot to deliver for all those clients who’ve been paying you millions of dollars for years.”Liu said that “to maintain public trust and avoid even the perception of regulatory conflict of interest, it’s essential to implement clear guardrails.” Such a guardrail would include mandatory disclosures of prior industry ties, ethics oversight, and transparent public comment periods for all crypto rules.Related: SEC says it won’t re-file fraud case against Hex’s Richard HeartAtkins accused of biasWarren also sent a letter to Atkins in late March, stating that he should expect questions about his potential role at the agency due to his ties to the crypto industry through Patomak. Before being appointed, Atkins revealed a personal and family financial portfolio worth more than $327 million, according to a public ethics filing released ahead of his Senate confirmation hearing. Similarly, Trump’s artificial intelligence and crypto czar, David Sacks, filed a notice in early March suggesting that his venture capital firm sold more than $200 million in crypto and related stocks ahead of assuming his role.Magazine: Your AI ‘digital twin’ can take meetings and comfort your loved ones
Symbiotic raises $29M for staking-based universal coordination layer
Cryptocurrency staking protocol Symbiotic closed a $29 million Series A funding round led by Web3-focused investment firms, including Pantera Capital and Coinbase Ventures, to support the launch of a new economic coordination layer for blockchain security.The round included more than 100 angel investors, with participation from major industry players including Aave, Polygon and StarkWare, the company said in an April 23 announcement shared with Cointelegraph.The closing of the funding round also marks the launch of Symbiotic’s Universal Staking Framework, which aims to be an economic coordination layer that bolsters blockchain security via staking.The new staking layer enables the use of any combination of cryptocurrencies to secure networks, including monolithic and modular layer-1 and layer-2 blockchains, the announcement stated.“We’ve created a modular framework that lets protocols evolve security models over time while efficiently coordinating risk,” Misha Putiatin, co-founder of Symbiotic, told Cointelegraph. “This empowers protocols at every stage of their lifecycle to evolve their security models seamlessly without rebuilding infrastructure.”Related: Ethereum L2 development is ‘double-edged sword’ for ETH valueThe “next step” in blockchain infrastructureThe new staking layer is the “next step in blockchain infrastructure” due to unlocking “economic coordination between assets and networks that were previously impossible,” according to Paul Veradittakit, managing partner at Pantera Capital.“As the number and variety of onchain assets continue to increase, Symbiotic allows them to easily serve as economic security while enabling entirely new use cases across DeFi,” he added.Blockchain networks looking to bolster security can adopt Symbiotic’s network of decentralized validators that bring “programmable security” without the need to modify infrastructure.According to the company, 14 networks, including Hyperlane, Spark and Avail, have already adopted the new coordination layer, with 20 more expected to follow.The staking layer enables “any protocol, including L1s, bridges, oracles, and even emerging verticals like artificial intelligence or zero-knowledge systems, to configure their own validator sets, incentive mechanisms and slashing conditions without having to rebuild core infrastructure,” Putiatin said.Related: Bitcoin ETFs log $912M inflows in ‘dramatic’ investor sentiment boostCrypto needs more collaborative economic incentives: HoskinsonCardano founder Charles Hoskinson, speaking at Paris Blockchain Week 2025, emphasized the need for collaborative economics in the crypto industry to counter growing competition from traditional tech firms entering the blockchain space.Charles Hoskinson. Source: CointelegraphCrypto’s “circular economy,” which often means that the rally of a specific cryptocurrency is bolstered by funds exiting another token, is limiting the growth of the industry, said Hoskinson.“The problem right now, with the way we’ve done things in the cryptocurrency space, is the tokenomics and the market structure are intrinsically adversarial. It’s sum 0,” said Hoskinson. “Instead of picking a fight, what you have to do is you have to find tokenomics and market structure that allows you to be in a cooperative equilibrium.”“You can’t build a global ecosystem this way, and you can’t win this way,” he said. “Because here’s the thing. The incumbents are much larger.”Magazine: 3 reasons Ethereum could turn a corner: Kain Warwick, X Hall of Flame