US Bitcoin ETFs clock biggest inflows since January as crypto markets gain
US-based Bitcoin exchange-traded funds (ETFs) had their largest day of net inflows since late January, as crypto markets remained buoyant over the Easter weekend.The 11 Bitcoin (BTC)-tracking funds saw a joint net inflow of $381.3 million on April 21, largely carried by a $116.1 million inflow into the ARK 21Shares Bitcoin ETF (ARKB), according to CoinGlass data.It’s the largest inflow day for the ETFs since the funds had a $588.1 million joint net inflow on Jan. 30, days after Bitcoin hit a peak and was trading with a six-figure price tag.Total Bitcoin ETF flows since their launch in January 2024. Source: CoinGlassThe ETFs have struggled to maintain inflows over the past few weeks amid US President Donald Trump’s trade war threats. CoinGecko shows Bitcoin fell below $100,000 in early February and hit a 2025 low of $74,773 on April 7, days after Trump placed tariffs on every country, which also caused a stock market slump.The Fidelity Wise Origin Bitcoin Fund (FBTC) saw the second-largest inflow for April 21, with $87.6 million, while the Grayscale Bitcoin Trust (GBTC) and the company’s Bitcoin Mini Trust ETF (BTC) saw joint net inflows of $69.1 million.The Invesco Galaxy Bitcoin ETF (BTCO) and the WisdomTree Bitcoin Fund (BTCW) saw no inflows or outflows on April 21. Source: CoinGlassBlackRock’s iShares Bitcoin Trust ETF (IBIT), the largest of the group by assets under management, saw net inflows reach $41.6 million, about half of the inflows it saw before the weekend trading break on April 17.Crypto stays afloat over long weekendUS markets had shut down on April 18 in observance of Good Friday, and trading on Monday, April 21, saw them close in the red, with the S&P 500 down 2.4%, while the Nasdaq and the Dow Jones each dropped 2.5%.Related: Bitcoin rally above $100K may follow US Treasury buybacks — Arthur HayesThe crypto markets, meanwhile, were able to hold onto gains made over the long weekend, with the total crypto market capitalization climbing by $800 billion over the three-day break to hold at $2.84 trillion.Bitcoin has boosted that total, having climbed above a market value of $1.75 trillion for the first time since March 22 as its price struck above $88,500, a four-week high.Magazine: Financial nihilism in crypto is over — It’s time to dream big again
US judge transfers Binance lawsuit to Florida, citing first-to-file rule
A US judge has granted Binance’s motion to transfer a case involving allegations it facilitated money laundering to the Southern District of Florida due to a similar case that had already been before the courts there.The case, filed in August 2024 in Washington, focused on the same core issue as a suit filed in June 2023 in Florida, accusing Binance of allowing cybercriminals to use the platform for money laundering, US District Judge Barbara Rothstein said in an April 21 order. “Although the two complaints describe the proposed classes in slightly different terms, both encompass the same proposed class of individuals whose cryptocurrency was stolen and transferred to a Binance.com account during the relevant period,” Judge Rothstein said.“Therefore, this Court concludes that the classes of plaintiffs are sufficiently similar to warrant application of the first-to-file rule.”US District Judge Barbara Rothstein said transferring the Washington lawsuit to Florida was appropriate given the similarity to a case already being heard there. Source: Law360The first-to-file rule allows a court to decline a ruling on a matter when a complaint involving the same parties and issues has already been filed in another district. Generally, the court that first hears the case usually retains jurisdiction, according to legal resource LSD Law.Plaintiffs say the lawsuits differ in key areas Lawyers acting for the plaintiffs in the Washington case argued that it differed from the Florida suit because it added other accusations not present in the Florida lawsuit and named former CEO Changpeng “CZ” Zhao as a defendant. They also argued that transferring the case could postpone both court actions to the “detriment of all plaintiffs.”Jude Rothstein said in her ruling that it’s not apparent transferring the suit would delay resolution in either case, and would promote efficiency by “avoiding duplicative litigation,” which is one of the “first-to-file rule’s purposes.”“To allow two parallel class actions to proceed in separate districts would be duplicative and inefficient,” she said. Related: Binance to face class action after US Supreme Court denies petition for reviewThree crypto investors launched a suit in August 2024 against Binance and CZ in Washington, alleging their crypto was stolen and the funds were sent to Binance by the thieves to launder the funds.A year before, Michael Osterer filed his lawsuit in Florida in June 2023, alleging Binance aided the conversion of stolen crypto. A Florida court ordered the case to arbitration in July 2024.Magazine: SEC’s U-turn on crypto leaves key questions unanswered
Bitcoin risks '10-15%' BTC price dip after key rejection near $89K
Bitcoin (BTC) traders see a BTC price reversal already beginning as classic resistance stops bulls in their tracks.BTC/USD 1-hour chart. Source: Cointelegraph/TradingView200-day moving average keeps BTC price pinnedData from Cointelegraph Markets Pro and TradingView shows BTC/USD cooling after hitting new April highs of $88,874.Having found strength at the start of the week, Bitcoin raised hopes of a gold copycat move as the latter set multiple all-time highs.Those highs continued on April 22, while BTC price action conversely saw rejection at the key 200-day simple moving average (SMA).“Interesting spot. Broke above the Daily 200EMA (Blue) and diagonal resistance. So far, saw a sharp rejection from the Daily 200MA (Purple),” popular trader Daan Crypto Trades summarized in a post on X alongside an explanatory chart. “Fun won’t start until we get some daily closes back above the previous range low at ~$90K. Important to hold ~$85K below I’d say.”BTC/USD 1-day chart. Source: Daan Crypto Trades/XThe 200-day SMA traditionally forms support during Bitcoin bull markets but was lost in March as crypto faced sell-side pressure when the US trade war began.Since then, BTC/USD has seen five-month lows under $75,000, and despite a healthy rebound, some market participants are keen to call time on the latest episode of price upside.Among them is fellow trader Roman, who referenced stochastic relative strength index (RSI) values in “overbought” territory.“As we approach horizontal resistance, I wanted to show that the last 4 times stoch RSI has been overbought, we’ve seen a 10-15% correction,” he noted, adding that such a move “would make perfect sense” given downward momentum on the S&P 500.Daily stochastic RSI was at the top of its 0-100 scale on April 22.BTC/USD 1-day chart with 200 SMA, stoch RSI data. Source: Cointelegraph/TradingViewBitcoin “reversal has started,” says traderAs Cointelegraph continues to report, other bullish market commentary focuses on the confluence of macroeconomic factors that traditionally fuel BTC price gains.Related: US dollar goes ‘no-bid’ — 5 things to know in Bitcoin this weekThese include rapidly weakening US dollar strength, all-time highs in the global M2 money supply, and a delayed reaction to gold’s breakout.“In the past few weeks, I’m looking at different on-chain data and global events which makes me believe that BTC reversal has started,” popular trader Cas Abbe concluded in a dedicated X thread on the topic.Abbe rejected the idea that the current BTC rebound will end up as a “bull trap,” pointing to whale accumulation and the reemerging Coinbase premium in addition to macroeconomic factors.“I believe that $74K-$75K zone was the bottom for $BTC. Most alts have also bottomed out and we could see a sustained rally,” he added.BTC/USD vs. XAU/USD chart. Source: Cas Abbe/XThis 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.
Gibraltar court ends 2-month freeze of 542M PLAY tokens amid legal dispute
The Supreme Court of Gibraltar has reversed its decision to freeze 542 million PLAY tokens in a court battle between two companies tied to the Web3 game-creation platform PLAY Network.In an April 17 judgment, Gibraltar Supreme Court Judge John Restano undid his earlier February freeze of the tokens, finding it could have hurt the value of the tokens and that the evidence filed was insufficient to continue the freeze.“Whilst there may be many reasons for the drop in value of the tokens, the evidence before the court suggests that these proceedings are a factor in that regard,” he wrote.US-based Ready Makers, which operates as Ready Games, and its founder, David Bennahum, have filed a legal dispute against its Gibraltar-based subsidiary, Ready Maker (Gibraltar) Limited, and its CEO, Christina Macedon. The suit claims she took over the firm and its PLAY token that is used as a reward on the PLAY Network.Ready Games won a freeze of the tokens in February, with the Gibraltar-based Ready Maker, operating as PLAY Network, handing them over to a court-appointed custodian.The 542 million PLAY tokens are nearly two-thirds of its current circulating supply and are worth around $2.6 million. The token’s price has plummeted by over 97% since it launched in December, according to CoinGecko.PLAY has sunk over the past three months to trade for fractions of a cent. Source: CoinGeckoJudge Restano said the evidence filed by Ready Games for the freeze was “far from impressive, and raises more questions than it answers.”He added he did “not consider that this is a case where the order should be re-granted in any event,” and cited Ready Games’ failure to disclose that it was in administrative dissolution at the time of filing for the token freeze, which he called “a significant omission.”Ready Games’ Bennahum told Cointelegraph that it has filed to lodge an appeal alongside “an urgent application with the Gibraltar Court of Appeal asking them to either stay the discharge of the original injunction or grant a new injunction” so the tokens could again be frozen pending the appeal’s outcome.He added that his company disagreed with the court’s decision to lift the token freeze, saying that the Gibraltar-based firm was in an “alarming state.”Ready Maker is just a “token launch vehicle” — Ready Games founderBennahum reiterated an earlier claim that the US-based Ready Games created Ready Maker in Gibraltar with the US company’s intellectual property and funding “specifically to serve as our token launch vehicle.”“We maintain that Ms. Macedo and associated parties have wrongfully seized control of this entity and its assets,” he said. Judge Restano said in his judgment that Macedo disputed Bennahum’s claim, and regulatory filings purportedly show she is the sole controller and ultimate beneficial owner of the Gibraltar-based firm.Related: Crypto gaming has mixed Q1 as deals jump, investment totals dip: DappRadar Ready Games had said in a February statement that its court action was to “recover control” of the Gibraltar company.It added that a Delaware business court issued a temporary restraining order that required Ready Gibraltar to restore Ready Games’ access to the firm’s tech stack, such as “GitHub repositories, cloud systems, and domain accounts.”Web3 Gamer: Riskiest, most ‘addictive’ crypto game of 2025, PIXEL goes multi-game
US dollar, stocks tumble and crypto gains as Trump amps up pressure on Fed
Crypto markets avoided the fallout caused by US President Donald Trump’s latest salvo against Federal Reserve Chair Jerome Powell, which saw the US stock market slump and the dollar continue to weaken over uncertainty. Stock markets across the United States ended April 21 in the red, with the S&P 500 dropping 2.4%, the tech-heavy Nasdaq slipping 2.5%, and the Dow Jones losing 2.5%, or nearly 1,000 points, according to Google Finance. The S&P 500 has now declined by more than 12% since the beginning of the year, and the Nasdaq is down almost 18% in the US tech stock exodus. US stock heatmap. Source: TradingViewThe stock slide follows escalating tension between Donald Trump and Jerome Powell and growing concern over the impact of trade tariffs. “‘Preemptive Cuts’ in Interest Rates are being called for by many,” Trump wrote on his social media platform Truth Social on April 21. “With Energy Costs way down, food prices […] substantially lower, and most other ‘things’ trending down, there is virtually No Inflation,” he added. Trump has reiterated his call for lowering interest rates, which Powell, who has been labelled as “Mr. Too Late” and a “major loser” by the POTUS, has kept high at 4.5%. Source: Donald TrumpLast week, Powell took a swipe at Trump’s trade tariffs, saying they could lead to a dangerous economic mix of rising prices and slowing growth, or “stagflation.”Trump responded with a call to fire the central bank chair, stating at the time that his “termination cannot come fast enough.” The Fed is expected to maintain its wait-and-see policy approach at its May 7 meeting, with interest rate markets predicting just a 13% chance of a rate cut, according to CME Fed Watch. US dollar devaluation continues The US Dollar Index (DXY) — a measure of the strength of the greenback against a basket of leading currencies — has also slipped more than 10% so far this year. This week it fell to a three-year low below 98 on April 21, according to TradingView. “Everyone needs and wants a weaker dollar to service their dollar debts,” commented Real Vision founder and CEO Raoul Pal on April 22. “This is the purest form of global liquidity and is the largest driver of global M2 [money supply] currently,” he added. Related: US dollar goes ‘no-bid’ — 5 things to know in Bitcoin this week Meanwhile, crypto markets have held on to weekend gains with total capitalization remaining at $2.83 trillion at the time of writing. Bitcoin (BTC) is keeping digital asset markets buoyed, hitting a four-week high of $88,500 on April 22. “Amid one of the most turbulent periods for global markets in years, Bitcoin is showing impressive resilience,” commented Bitfinex analysts in a recent market update. Magazine: Altcoin season to hit in Q2? Mantra’s plan to win trust: Hodler’s Digest
Mantra says CEO has begun the process of burning his 150M OM tokens
Mantra founder and CEO John Patrick Mullin has started unstaking 150 million of his Mantra (OM) tokens in preparation for sending them to a burn address in an attempt to restore the token’s value by tightening supply. Mantra announced on April 21 that the unstaking process had begun, and would be completed by April 29, at which point Mullin’s Mantra (OM) tokens will be sent to the burn address and permanently removed from circulating supply.Source: John Patrick MullinMullin said it was a “first step in rebuilding trust with the community, but far from the last.” Mantra said it was also in talks with “key ecosystem partners” about burning a further 150 million OM to bring the total burn amount to 300 million.With 150 million fewer OM, Mantra’s total supply will decline to 1.67 billion, and its number of staked tokens will drop by over 26% from 571.8 million OM to 421.8 million OM. Returns will also be boosted: “This strategic burn will lower the bonded ratio from 31.47% to 25.30%, resulting in an increase in staking APR,” Mantra said.Token burn initiative follows OM price collapseTwo days after Mantra’s rapid 90% price collapse on April 13, Mullins posted to X that he intended to burn all of the staked tokens he was allocated at the blockchain’s mainnet genesis in October. These vested “team tokens” were due to be unlocked starting in 2027.He also ran a poll on X about the proposed burn of his tokens, with alternate options such as extended vesting or unlocking tokens at milestones — as a “temperature check of people’s thoughts.”The poll had attracted almost 9,000 votes at the time of writing, and a number of commenters criticized it as an attempt to reverse course on the burn commitment. Source: John Patrick MullinThe burn is connected to an “OM Token support plan” Mantra announced following the price crash, which will also feature a token buyback. Mullin said the buyback program was also “well underway.”Related: How Mantra’s OM token collapsed in 24 hours of chaosMantra also released a tokenomics dashboard to increase transparency as it seeks to regain the trust of the community. At the time of writing, the OM price remains down around 90% from its value of $6.30 earlier in April, trading at below $0.55.Magazine: Financial nihilism in crypto is over — It’s time to dream big again
How to stake Solana (SOL) in 2025: A step-by-step guide for beginners
Key takeawaysStaking Solana allows you to earn passive income through staking rewards while participating in network governance.There is no minimum requirement for staking Solana, but the practical minimum is around 0.01 SOL.All you need to start staking Solana is a SOL-compatible wallet.Staking is considered one of the safer ways to participate in crypto ecosystems.Solana is a blockchain network known for its fast transaction speeds and extensive ecosystem of decentralized applications (DApps). It also combines the proof-of-stake (PoS) and proof-of-history (PoH) consensus mechanisms, allowing you to stake its native currency, SOL (SOL), to earn rewards. This Solana staking guide walks you through the Solana staking process and explains why staking could be a smart move, especially if you’ve been wondering how to earn passive income with SOL.What is Solana staking?Solana staking consists of locking SOL into a cryptocurrency wallet. The process rewards you in the following ways:Staking rewards: You earn rewards for staking SOL — a percentage based on how much you’ve staked, Solana’s current inflation rate (which fluctuates and is set to decrease every year), the total amount of SOL staked on the network, and how long you’ve been staking overall.Governance: Staking gives you a say in governance, allowing you to vote on proposals that shape the Solana network. This approach prioritizes those with the largest investments, assuming they’ll act in the network’s best interest.Network security: Staking increases security to create a stable investment environment. By staking, you’re directly contributing to Solana’s health and longevity. That said, if a few wallets stake large amounts, one could argue they’re centralizing the network.If you earn rewards staking SOL, they’re paid out every two days — a period known as an epoch. When staking SOL, you’re delegating funds to a Solana representative (a validator.) Validators process transactions, produce blocks, and vote on network proposals. It’s essential to choose a validator that aligns with your vision for Solana, as they’ll be voting in your stead, much like an elected official in traditional governments.Validator votes are stake-weighted. The more stake a validator has, the more weight their vote carries. Solana validator vs. delegator: By delegating funds to a validator, you become a delegator. The validator’s job is to vote in the network’s best interest. It’s your job to choose reputable validators that keep the network safe. Did you know? Solana is one of the fastest blockchains in terms of transactions per second (TPS). It currently averages around 1,128 TPS, with a theoretical max of 65,000 TPS. Staking Solana for beginnersThere are a few things to consider as you prepare to stake Solana.Understanding staking methodsOn the surface, staking is quite simple; however, there are actually two staking methods — each affects your SOL liquidity.Liquid staking: Earn rewards while retaining control of your SOL’s liquidity. When you liquid stake, you receive liquid staking tokens (LSTs) equivalent to the amount of SOL you stake. You can use those LSTs in Solana’s decentralized finance (DeFi) applications as you would if you weren’t staking funds.Native staking: Native staking is the original method that locks your funds away, allowing you to earn rewards and participate in governance. However, you cannot use your funds without pulling them out via the unstaking process. This process is beginner-friendly but limits what you can do with your SOL.The difference between the two is flexibility. Native staking is less flexible but easier for beginners, while liquid staking retains your liquidity for use in DeFi and other applications.Solana staking tax 2025In the United States, Solana staking rewards are subject to income and capital gains tax.Income tax: You’re required to pay income tax on the value of SOL at the moment you unstake it. You also pay income tax on staking rewards when you gain the ability to withdraw them.Capital gains tax: You’re required to pay capital gains tax once you sell or convert that SOL.How to stake SolanaNow, let’s get into the Solana staking tutorial. Choose a Solana walletFirst, you need a wallet to store and stake your SOL. Most Solana wallets have built-in staking capabilities. This guide uses the Phantom Wallet for demonstration purposes.Download Phantom Wallet from its official website by clicking the “Download” button.Next, click “Create a new wallet.”You’ll be asked to continue with an email or a seed phrase wallet. Click “Create a seed phrase wallet.”Enter a password, and proceed to the recovery phrase screen. Write down your recovery seed phrase on piece of paper, check the confirmation box, and click “Continue.”Create a username, click “Continue,” and you’ll have created a Solana wallet. Fund the walletFund Phantom with SOL by either transferring SOL from another wallet or buying it with a debit/credit card via the “Buy” button.Phantom partners with companies such as Robinhood or Topper to facilitate card payments, allowing you to buy from within the wallet interface.After funding your wallet, it’s time to start staking.Stake your SolanaOpen your token list and click on “Solana.”Select “Start earning SOL.”Now, choose between “Liquid Staking” or “Native Staking.”Liquid staking is typically done via a third-party provider. Phantom integrates with Jito’s liquid staking platform, enabling you to receive JitoSOL LSTs when you liquid stake.If you choose to liquid stake, Phantom will detail your estimated annual percentage yield (APY) and how much JitoSOL you’ll receive in return for staking.JitoSOL will appear in your token list.JitoSOL will appear in your token list.If you choose native staking, you must commit to a validator. Phantom will list validators in order of how much SOL is staked to them and their estimated APY.Select a validator, enter how much SOL you’d like to stake, and click “Stake.” The network will create your staking account, and you’ll start earning rewards in a few days.Congratulations, you’re successfully staking SOL.Did you know? Validators who act out of turn or experience significant downtime will have their rewards slashed, also reducing the rewards of those who stake with the validator. How to unstake SolanaWhether you choose liquid or native staking, here’s how to unstake your funds. You might unstake if:You want to convert SOL: If you want to swap or sell your SOL, you must unstake the funds first.You want to stake elsewhere: If another network catches your eye, you’ll have to unstake your Solana funds to transfer them for staking on another network.Validators act up: If your validator acts outside the network’s best interest, you may want to unstake and delegate to another validator.Unstake natively staked tokensTo unstake natively staked tokens, click on “Solana” in your token list.Next, click on “Your stake.”Select the validator you want to unstake from and click “Unstake.” Then, select “Withdraw Stake” to pull the funds back into your wallet. The validator will show “Inactive” once you’ve unstaked.Unstake LSTsTo unstake your LSTs, select them in your token list.Click “More” in the options list, then select “Unstake.”If you’re using Jito as your LST provider, clicking unstake will take you to Jito’s platform. Here, you have two options: unstake immediately or delayed unstaking.Unstake immediately: Immediate unstaking costs a small fee, based on the amount you are unstaking. You can pay additional fees to prioritize your transaction or tip validators. Finally, you can adjust your slippage tolerance.Delayed unstaking: Delayed unstaking can range from one day to a week, depending on network congestion, but you pay a much lower fee. You also don’t have to account for slippage, as the network won’t prioritize your transaction.Choose whichever option works best for you, and click “Unstake SOL.” The funds will appear in your wallet.Did you know? You can stake Solana with as little as 0.01 SOL, making it one of the most accessible PoS blockchain networks.Is Solana wallet staking safe?Staking Solana is relatively safe, but even if you know how Solana staking works, there are risks to be aware of:Market volatility: Solana is subject to market volatility as much as any other cryptocurrency. The value of your staked SOL can fluctuate based on market conditions.Validator behavior: Validators can act out of favor with the network and may experience “slashing.” Slashing penalizes the validator’s rewards, which affects your rewards as well. Your initial investment remains safe, however.Cyberthreats: Blockchain networks are exposed to bad actors 24/7, meaning they can be vulnerable to hacks at any time, putting your funds at risk.Past downtime: Solana has had various outages over the years, often due to congestion. While this doesn’t necessarily mean your funds are at risk, bad actors could target the network during its weak moments.So, while staking on Solana offers potential rewards, it’s important to understand that staking always carries risk. As with any investment, there’s a possibility of loss, so it’s crucial to evaluate your risk tolerance and take necessary precautions.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.
WazirX confirms restart on track as it awaits sanction hearing in May
Indian crypto exchange WazirX, which was hacked for $234 million last July, says it is on track to restart its operations pending a May 13 court decision on its restructuring proposal and user compensation plan. If Singapore’s High Court gives the nod, WazirX parent company Zettai PTE Ltd can restart the exchange and begin its compensation scheme for affected users within 10 business days, WazirX said in an April 21 update to X.WazirX lost $234 million of crypto from a Safe Multisig wallet mid-July 2024 in an attack since attributed to North Korean hackers, forcing them to temporarily pause all crypto and Indian rupee withdrawals on the platform.Source: WazirX“Zettai has completed all prior required steps, and the next key step is the sanction hearing, which the Singapore High Court has scheduled for May 13, 2025,” the firm said.“This hearing is essential for the Scheme to become legally effective. While we’ve worked to stay aligned with the previously shared timelines, court proceedings operate independently, and we respect that process.”On April 7, more than 90% of the voting creditors voted in favor of the platform’s post-hack restructuring plan, which involved the issuance of recovery tokens.The tokens would be repurchased using net profits from the exchange and could yield 75% to 80% of users’ account balances at the time of the cyberattack.WazirX had warned that repayments from the $235 million hack could be delayed until 2030 if creditors didn’t approve its proposed restructuring plan. Singapore’s High Court gave Zettai permission to convene a creditors’ meeting to propose a possible remedy for users and a plan to get the exchange back online in January.Related: Bybit CEO: Two-thirds of Lazarus-hacked funds remain traceable“We understand the eagerness around the platform restart and truly appreciate your continued patience,” WazirX said.”Since the beginning, we have communicated that the first distribution and restart would occur within the April-May 2025 window.”Supreme Court of India dismisses WazirX users petition A separate April 16 court judgment from the Supreme Court of India dismissed a petition filed by 54 victims of the hack, who sought legal action against WazirX, Shetty, Binance and custody provider Liminal. Petitioners also asked the court to audit WazirX’s accounts. Justices B.R. Gavai and Augustine Masih rejected the petition, saying the court could not rule on the case because it was a matter of crypto policy, which the court doesn’t have the authority to rule on. Gavai and Masih advised the petitioners to approach a regulatory body or other relevant authority to hear the matter instead.Magazine: Uni students crypto ‘grooming’ scandal, 67K scammed by fake women: Asia Express