Crypto, stocks enter ‘new phase of trade war’ as US-China tensions rise
Cryptocurrency and equities markets entered a “new phase of the trade war, amid ongoing tariff escalations between the United States and China.Global trade war concerns intensified on April 15 after the White House published a fact sheet announcing that Chinese imports would be hit with tariffs of up to 245%.The penalties include a “125% reciprocal tariff, a 20% tariff to address the fentanyl crisis, and Section 301 tariffs on specific goods, between 7.5% and 100%,” according to the White House.Fact sheet on tariffs, investigation into security risks posed by US reliance on imports. Source: White HouseCrypto, tech stocks and other “expensive assets” have entered a “new phase” of the global trade war in response to the latest escalation, according to Aurelie Barthere, principal research analyst at crypto intelligence platform Nansen.“We are now in a new phase of the trade war, with the focus on high-added-value sectors, Tech (and Pharma), and the zeroing in on US-China,” the analyst told Cointelegraph, adding:“Until and IF we see a resolution of the US-China conflict (one leader picks up the phone and gives some concessions to the other), we are facing highly correlated risk assets.”“I also think this situation is negative for non-US equities,” Barthere said. US equities and crypto have been “highly correlated” since November 2024, which increased to the downside during the current market correction, as “investors de-risk, especially expensive assets,” she added.BTC, SPX, Nasdaq, gold chart. Source: Cointelegraph/TradingViewRelated: Bitcoin’s safe-haven appeal grows during trade war uncertaintyThe recovery of global equities and cryptocurrency markets hinges on the tone of global tariff negotiations, with a 70% chance to bottom by June 2025 before recovering, Nansen analysts previously predicted.China recently appointed a new chief trade negotiator, Li Chenggang, a former assistant commerce minister during the first administration of US President Donald Trump.Chenggang is characterized as a “very intense” negotiator experienced in dealing with US officials, Reuters reported on April 16, citing an unnamed source in Beijing’s “foreign business community.”Related: Trump’s tariff escalation exposes ‘deeper fractures’ in global financial systemEyes on Powell’s next moveAs tariff tensions increase alongside inflation-related concerns, all eyes are now on US Federal Reserve Chair Jerome Powell’s upcoming speech during the next Federal Open Market Committee (FOMC) meeting on May 6.“Markets were on edge for any signal that the Fed might delay rate cuts due to sticky inflation or heightened geopolitical risk,” analysts from Bitfinex exchange told Cointelegraph, adding that if Powell leans hawkish, risk assets like Bitcoin could see downside:“A neutral or balanced tone may calm markets more than they already have over the past week with some signficant recoveries across many risk assets and particularly crypto where many lower market cap assets have moved 30–40% off the lows.”“Crypto is reacting to macro news not because fundamentals have changed, but because positioning is thin and confidence is sensitive,” the analysts added.Magazine: Bitcoin ATH sooner than expected? XRP may drop 40%, and more: Hodler’s Digest, March 23–29
Cash-based crypto can enable financial inclusion for billions
Opinion by: Alexander Guseff, founder and CEO of TectumCrypto companies have spent years pushing digital wallets and exchange apps, convinced they’ll bring financial inclusion to the world. Here’s the reality: 1.4 billion people remain unbanked, and crypto adoption has barely exceeded 8%. For all the talk about decentralization and accessibility, the industry continues to overlook the billions of people who rely on cash for their daily lives.In developing economies of Africa, South Asia and Latin America, cash is not just dominant — it’s essential. Banking services are sparse, smartphone penetration is low, and digital literacy remains a hurdle. Expecting these populations to onboard through a process designed for tech-savvy users with internet access is unrealistic.Yet whenever offline crypto solutions have been tested, adoption has jumped. The message is clear: People are willing to use crypto but need a way to access it that fits their reality.The global reality of cash dependenceDespite assumptions that digital finance will eventually replace cash, that’s not what the numbers show. Take Romania. Notably, 76% of transactions there are still cash-based, yet crypto adoption has hit 14%. In Morocco, cash remains king despite digital payment growth, yet 16% of the population has found a way to use crypto — even though it’s officially banned.Then there’s Egypt, where approximately 72% of payments rely on cash, but crypto adoption sits at around 3%, primarily due to limited digital infrastructure. Even in India, where crypto enthusiasm runs high, 63% of transactions still happen in cash. Across these markets, the pattern is clear: People want to use crypto, but the industry isn’t giving them a practical way to integrate it into their everyday transactions.Crypto’s real problemThe barriers to crypto adoption go far beyond technology. Government regulations, economic conditions and local financial habits all play a role. Crypto’s biggest flaw isn’t a lack of demand. It’s the assumption that digital wallets and banking apps are the only viable entry points. That thinking ignores billions of people who still operate in cash-driven economies.A more practical approachInstead of forcing a digital-only model onto cash-heavy regions, crypto should adapt. Blockchain-linked physical banknotes, QR-coded vouchers and SMS-based transfers could bring crypto into the real economy in a way that makes sense for people who already use cash.Recent: Stop making crypto complexThe idea isn’t as radical as it sounds. Africa’s M-Pesa, which has over 66.2 million active users, operates on a simple agent-based model that lets people exchange cash for digital value without needing a bank account. The same approach could work for crypto, enabling users to trade blockchain-linked cash notes at local vendors.It’s already happening in small pockets. Machankura, for example, enables Bitcoin transactions via basic mobile networks, attracting over 13,600 users in Africa. In a region where nearly all digital payments rely on simple mobile codes rather than smartphone apps, solutions like this are far more viable than pushing another exchange-based onboarding process.Security concerns will always come up with physical assets, but trained agents and proper oversight can mitigate risks. More importantly, that’s a solvable problem — excluding billions of people from the financial system isn’t.The digital purists get it wrongMany in the crypto space dismiss paper-based solutions as outdated. The idea that everything must be digital ignores how financial systems evolve. People need time to transition and systems that fit their current way of life.CoinText, an SMS-based crypto transfer service, spread to 50 countries before it shut down — not because the idea didn’t work, but because the industry wasn’t ready to support it. The same rigid thinking that dismissed SMS transfers is now preventing adoption in cash-heavy economies. A new service called Text BSV has emerged, enabling seamless peer-to-peer (P2P) payments of satoshis via SMS — no app downloads, registrations or prior knowledge of Bitcoin (BTC) is required. It works on any phone, even non-smartphones.If crypto adoption remains stalled at 8%, it won’t be because people don’t want it. It’ll be because the industry insisted on an approach that doesn’t work for most of the world.A $50-billion opportunity The financial upside of integrating crypto into cash economies is enormous. Similar markets could follow if Romania, with a 76% cash reliance, can reach 14% adoption. That translates into a $50-billion opportunity globally as crypto enters economies where trillions of dollars move in informal cash transactions every year.A network of cash-to-crypto agents could generate $10 billion in revenue by 2030, mirroring the success of mobile money platforms like M-Pesa. Even crypto exchanges would benefit from tapping into these underserved markets, bridging the gap between digital and cash economies.Regulators may hesitate at paper-based crypto owing to transparency concerns, but financial inclusion at this scale is hard to ignore. If governments see a potential $50 billion in new economic activity, they’re more likely to work toward solutions rather than block progress.Cash meets cryptoCrypto was supposed to revolutionize financial access, but it remains out of reach for billions of people. Expecting these communities to abandon cash entirely and jump straight into digital wallets is unrealistic and a bad strategyThe solution isn’t to wait for these economies to modernize. It’s to meet people where they are. That means experimenting with cash-compatible solutions, partnering with telecom providers, and rolling out agent-based models that let people use crypto in a way that feels familiar.The current adoption stall will become permanent if the industry doesn’t make these changes. Instead of a step backward, paper-based crypto could be the bridge that finally connects billions of people to the future of finance.Opinion by: Alexander Guseff, founder and CEO of Tectum. 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.
5 reasons why FARTCOIN is rising faster than everything else
Fartcoin (FARTCOIN), a Solana-based memecoin launched in October 2024, has soared over 370% from its yearly low, outperforming Bitcoin (BTC) even as global trade tensions weigh on broader risk assets.These are the five key reasons why FARTCOIN is rising faster than top cryptocurrencies.FARTCOIN/USDT vs. BTC/USD 30-day price chart comparison. Source: TradingViewPEPE boom similarities fuel FARTCOIN hypeFARTCOIN’s recent surge mirrors the early stages of Pepe’s (PEPE) meteoric rise.In 2023, PEPE launched with a rapid ascent to a $1.8 billion market cap before crashing down to $255 million, according to the PEPE/WETH weekly chart. From there, it bottomed out, consolidated, and then entered a second, even more powerful rally that carried it beyond a $4 billion valuation.PEPE/WETH weekly performance chart. Source: DEX Screener/MacroCRGThe euphoric pump, harsh correction, and quiet accumulation phase look similar to what FARTCOIN is showing now.The Solana memecoin peaked near $2.4 billion earlier this year before undergoing a brutal drawdown. Its valuation dropped to around $365 million, forming a rounded bottom pattern.FARTCOIN/SOL weekly price chart. Source: DEX Screener/MarcoCRGFrom there, FARTCOIN has steadily climbed back, reaching about $949 million this week. That is strikingly similar to PEPE’s post-hype accumulation phase in 2023.“I genuinely think there’s a chance Fartcoin repeats the PEPE playbook and pulls some crazy multiples from here,” wrote market analyst MacroCRG, citing the PEPE memecoin fractal.Fartcoin’s social media hype spikes 500%FARTCOIN appears to be riding a fresh wave of speculative mania, with social media metrics revealing a sharp rise in online activity.FARTCOIN’s social volume (orange line) surged by nearly 500% in early April, preceding its 100%-plus gains in the month, according to data resource LunarCrush. As of April 17, the engagement had cooled slightly, albeit remaining elevated at 177% above baseline.FARTCOIN social volume, dominance and contributors 30-day chart. Source: LunarCrushSocial dominance (purple) and social contributors (blue) have both trended higher, up 162% and 136%, respectively.Rising social media activity in crypto markets often correlates with increased speculative interest, particularly in meme-driven assets. While not a guaranteed indicator of future price action, a surge in social metrics can reflect growing community engagement and heightened visibility, factors that are now coinciding with sharp moves in FARTCOIN.Fartcoin OI jumps over 500%Fartcoin’s open interest (OI) in the futures market has jumped by around 504% so far in 2025, according to data resource CoinGlass. A rising OI indicates a massive influx of capital and attention from traders.FARTCOIN futures open interest. Source: CoinGlassIn contrast, Bitcoin’s OI has declined by 10.5% during the same period, reflecting reduced speculative interest in the leading crypto asset.Adding to the bullish case, FARTCOIN’s funding rates have remained largely positive throughout April, showing that more traders are betting on the price going up than down. FARTCOIN funding rates (8-hour). Source: CoinGlassPeriods of negative funding rates in the FARTCOIN futures market have consistently aligned with disproportionately large short liquidations, highlighting the risks of betting against this popular memecoin.A clear example occurred on April 9, when FARTCOIN’s eight-hour funding rate plunged to -0.023%, signaling a wave of bearish sentiment as traders aggressively shorted the token.FARTCOIN funding rates and liquidation charts. Source: CoinGlass But in a classic short squeeze, FARTCOIN surged by nearly 50% the same day, triggering $9.16 million in short liquidations, compared to just $2.52 million in longs.This stark imbalance underscores a growing pattern: When too many traders lean bearish, FARTCOIN often moves sharply against them. As a result, short sellers appear to be treading carefully, as excessive pessimism has repeatedly backfired, turning negative funding into a setup for explosive upside moves.Fartcoin is founderlessFartcoin’s rise reflects more than just meme-fueled hype—it stems from a unique narrative that actively blends AI innovation with internet absurdity.New Zealand-based AI researcher Andy Ayrey created an AI agent called the Terminal of Truth, which conceived Fartcoin as part of an experiment in merging artificial intelligence with blockchain humor. Source: XThis unusual origin story has caught the attention of traders looking to capitalize on the intersection of AI and crypto, positioning Fartcoin as more than just a typical memecoin.“Unlike most AI plays, it lives free of the execution risks and technical complexity of infra tokens *and* free of the fatigue and noise around tokenized agents,” wrote analyst Ben in December 2024, adding: “This simplicity coupled with absurdity is the perfect recipe for reflexivity: higher price = higher absurdity = higher attention = higher price.”Fartcoin’s team continues to build its brand around viral internet culture, planning a Goatse-inspired film to further fuel engagement. It pushes the absurdity even further by incorporating a digital fart sound into its “Gas Fee” system—turning transaction costs into a deliberately crude punchline that reinforces its meme-first identity.Source: XIn doing so, Fartcoin has leveraged novelty and narrative to attract speculative capital without relying on a roadmap, founder figure or utility. This strategy possibly explains why it has continued to gain momentum while many other tokens stall.Fartcoin price technicals hint at 100% gains nextFARTCOIN’s price rally also has strong technical backing. The four-hour chart of FARTCOIN/USDT shows an inverse head-and-shoulders pattern, a classic bullish reversal signal that often marks the end of a downtrend and the beginning of a sustained upward move.This formation includes a left shoulder formed in early February, a deeper head in mid-March, and a right shoulder in early April, all anchored around a horizontal neckline around $0.63.FARTCOIN/USDT four-hour price chart. Source: TradingViewThe pattern confirmed its breakout on April 10 when FARTCOIN surged above the neckline with strong volume. Following the breakout, the price has held above key moving averages — the 50-EMA and 200-EMA — while consolidating just under the $0.90 level.Based on the distance from the head to the neckline, the measured move projection points to an upside target near $1.96, up by over 100% compared to current price levels.This breakout adds a layer of technical confirmation to the ongoing rally, supporting the view that FARTCOIN’s momentum is narrative-driven and structurally supported by bullish chart patterns.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.
Bybit shuts down four more Web3 services after axing NFT marketplace
Bybit is shutting down more of its Web3 services after axing its non-fungible token (NFT) marketplace earlier in April.According to an April 16 announcement, the exchange is shutting down its Cloud Wallet (a hosted custodial wallet), Keyless Wallet (non‑custodial multiparty computation wallet with no seed phrase), NFT marketplace, multi‑chain decentralized exchange (DEX) DEX Pro and the Swap & Bridge cross‑chain swap widget on May 31.Source: Bybit Web3On April 28, Bybit will also discontinue Web3 Points, its internal loyalty program that rewarded onchain activity with redeemable points for fee discounts, airdrop boosts and early-bird perks.On the same day, the exchange will shut down its inscription marketplace, the decentralized NFT marketplace NFT Pro, the gateway to the Apex Pro derivatives DEX, its fiat-to-crypto on-ramp, and its initial DEX offering service.Related: Bybit recovers market share to 7% after $1.4B hackA strategic pivotBybit announced its intention to shut down its NFT marketplace earlier this month. The decision follows a similar decision by major NFT marketplace X2Y2.Still, the firm is not just cutting products. Recent reports indicate that Bybit has integrated the Bitcoin (BTC) yield product of lending protocol Avalon to offer Bitcoin yield to its users. Avalon said it will allow the platform’s users to earn yield from Bitcoin by arbitrating on its fixed-rate institutional borrowing layer.Bybit recently denied claims that it charges $1.4 million to list a token on its platform, following allegations made by a social media user.Related: BitMEX CEO explains how perpetual swaps test altcoin valueBybit refocusing its effortsBybit said it is shutting down the services in order to focus on the quality of its core products. The announcement reads:“In line with our commitment to the evolving onchain ecosystem and delivering high-quality services to our Web3 users, we will be optimizing our current Web3 product and service offerings.“These apparent cost-cutting efforts by the company follow Bybit’s loss of about $1.4 billion in a major hack in February.“Bybit is Solvent even if this hack loss is not recovered, all of the client’s assets are 1 to 1 backed — we can cover the loss.“Bybit had not responded to Cointelegraph’s request for comment by publication.Magazine: Your AI’ digital twin’ can take meetings and comfort your loved ones
North Korean hackers target crypto devs with fake recruitment tests
North Korean hackers linked to the $1.4 billion Bybit exploit are reportedly targeting crypto developers using fake recruitment tests infected with malware. Cybersecurity outlet The Hacker News reported that crypto developers have received coding assignments from malicious actors posing as recruiters. The coding challenges have reportedly been used to deliver malware to unsuspecting developers.Malicious actors approach crypto developers on LinkedIn and tell them about fraudulent career opportunities. Once they convince the developer, the hackers send a malicious document containing the details of a coding challenge on GitHub. If opened, the file installs stealer malware capable of compromising the victim’s system.The scam is reportedly run by a North Korean hacking group known as Slow Pisces, also referred to as Jade Sleet, Pukchong, TraderTraitor and UNC4899. Cybersecurity professionals warn of fraudulent job offers Hakan Unal, senior security operations center lead at security firm Cyvers, told Cointelegraph that the hackers often want to steal developer credentials and access codes. He said these actors often look for cloud configurations, SSH keys, iCloud Keychain, system and app metadata, and wallet access. Luis Lubeck, service project manager at security firm Hacken, told Cointelegraph that they also try to access API keys or production infrastructure. Lubeck said that the main platform used by these malicious actors is LinkedIn. However, the Hacken team observed hackers using freelance marketplaces like Upwork and Fiverr as well.“Threat actors pose as clients or hiring managers offering well-paid contracts or tests, particularly in the DeFi or security space, which feels credible to devs,” Lubeck added. Hayato Shigekawa, principal solutions architect at Chainalysis, told Cointelegraph that the hackers often create “credible-looking” employee profiles on professional networking websites and match them with resumes that reflect their fake positions. They make all this effort to ultimately gain access to the Web3 company that employs their targeted developer. “After gaining access to the company, the hackers identify vulnerabilities, which ultimately can lead to exploits,” Shigekawa added. Related: Ethical hacker intercepts $2.6M in Morpho Labs exploitBe wary of unsolicited developer gigsHacken’s onchain security researcher Yehor Rudytsia noted that attackers are becoming more creative, imitating bad traders to clean funds and utilizing psychological and technical attack vectors to exploit security gaps. “This makes developer education and operational hygiene just as important as code audits or smart contract protections,” Rudytsia told Cointelegraph. Unal told Cointelegraph that some of the best practices developers can adapt to avoid falling victim to such attacks include using virtual machines and sandboxes for testing, verifying job offers independently and not running code from strangers. The security professional added that crypto developers must avoid installing unverified packages and use good endpoint protection. Meanwhile, Lubeck recommended reaching out to official channels to verify recruiter identities. He also suggested avoiding storing secrets in plain text format. “Be extra cautious with ‘too-good-to-be-true’ gigs, especially unsolicited ones,” Lubeck added. Magazine: Your AI ‘digital twin’ can take meetings and comfort your loved ones
Polygon’s Nailwal: Jio partnership to drive real-world Web3 adoption for 450M users
As Polygon lays the groundwork for mainstream Web3 adoption in India by bringing blockchain access to over 450 million Reliance Jio users, it remains focused on balancing speed, scalability and affordability, without compromising on decentralization.Polygon is working with Jio, a telecom giant owned by India’s richest man, Mukesh Ambani, to find ways to infuse blockchain technology into its existing services. The duo is currently adding blockchain-based capabilities to the JioSphere web browser, which would have been expensive, cumbersome and time-consuming via traditional methods.“We’re building at an insane pace, onboarding massive partners, and pushing blockchain into the mainstream, but with that growth comes the responsibility to make sure we’re doing it the right way,” Polygon’s co-founder, Sandeep Nailwal, said while discussing Polygon’s India-focused initiatives with Cointelegraph. Preserving decentralization while ensuring system scalability“Scalability and decentralization don’t have to be either-or, and that’s exactly the balance we’re focused on at Polygon,” Nailwal said as he underscored the importance of keeping the core values of blockchain intact: security, transparency and decentralization.At the same time, Nailwal revealed that Polygon is investing heavily in zero-knowledge technology to make scaling more seamless across the ecosystem. “The goal is to give developers and users the best of both worlds: faster, cheaper transactions without compromising trust or decentralization,” he added.As a result of delivering the combination of low fees, fast transactions and decentralized security, Polygon is already powering some of the most active use cases in Web3, from stablecoin payments on Polygon PoS to real-world tokenization with major institutions: “The key challenge is making blockchain as seamless and accessible as Web2 without compromising what makes it special. That’s why we’re all-in on ZK technology and Agglayer, which let us scale while keeping the ecosystem trustless and interoperable.”Bringing blockchain tech to millions of usersAccording to Nailwal, a one-size-fits-all approach does not work when onboarding 450 million users from India’s diverse population. “We’ll be working closely with Jio to develop use cases that truly resonate with their users, and gradually onboard them onto the chain based on these real-world applications,” he added.Nailwal said that developers never have to compromise on the fundamentals, as Polygon’s infrastructure can scale without sacrificing what makes blockchain powerful in the first place:“What excites me most is that we’re moving beyond technical discussions about blockchain to solving real problems for real people. These are the use cases that will drive the next wave of adoption.”“At the end of the day, it’s about more than just technology. We’re here to create a decentralized future that billions of people can actually use. And while that’s a massive challenge, it’s also what excites me the most,” Nailwal said.Related: Indian town adopts Avalanche blockchain for tamper-proof land recordsReal-world problem solving will drive the next wave of adoptionRising threats driven by artificial intelligence tools, including deepfakes and other misinformation campaigns, are another use case blockchain technology can help solve. Nailwal said that the escalating threat of misinformation and growing consumer insistence on trusted sources will eventually result in an uptick of blockchain-based verification tools.Additionally, Nailwal highlighted the growing relevance of Polymarket, a cryptocurrency-based prediction market, in mainstream finance and reporting. “Polymarket’s success is exactly what we’ve been working toward,” he said, adding:“Prediction markets are proving to be incredibly valuable tools for finance, risk assessment, journalism and even governance. They pull in insights from a wide range of sources, often making them more reliable than traditional polling.”Nailwal is placing his full bet on blockchain’s immutable nature to transform economic forecasting, policy-making and journalism, among others.Magazine: Your AI ‘digital twin’ can take meetings and comfort your loved ones
Mantra OM token crash exposes ‘critical’ liquidity issues in crypto
Mantra’s recent token collapse highlights an issue within the crypto industry of fluctuating weekend liquidity levels creating additional downside volatility, which may have exacerbated the token’s crash.The Mantra (OM) token’s price collapsed by over 90% on Sunday, April 13, from roughly $6.30 to below $0.50, triggering market manipulation allegations among disillusioned investors, Cointelegraph reported.While blockchain analysts are still piecing together the reasons behind the OM collapse, the event highlights some crucial issues for the crypto industry, according to Gracy Chen, CEO of the cryptocurrency exchange Bitget.“The Om token crash exposed several critical issues that we are seeing not just in OM, but also as an industry,” Chen said during Cointelegraph’s Chainreaction daily X show, adding:“When it’s a token that’s too concentrated, the wealth concentration and the very opaque governance, together with sudden exchange inflows and outflows, […] combined with the forced liquidation during very low liquidity hours in our industry, created the big drop off.”Related: Google to enforce MiCA rules for crypto ads in Europe starting April 23At least two wallets linked to Mantra investor Laser Digital were among 17 wallets that moved a combined 43.6 million OM tokens — worth about $227 million at the time — to exchanges before the crash, the blockchain analytics platform Lookonchain reported on April 13, citing Arkham Intelligence data.However, Mantra CEO John Mullin denied the allegations related to large-scale token transfers from Mantra investors, Cointelegraph reported on April 14.Mantra released a post-crash statement on April 16, reiterating that the OM crash didn’t involve token sales by the project itself and that the Mantra team continues investigating the incident. The report did not explain the rapid movement of OM tokens to exchanges and subsequent liquidations.Related: UFC boss Dana White becomes VeChain adviser to push blockchain mainstreamExchange movements point to strong “insider dumping” signalWhile the exact reason behind the collapse remains unclear, Mullin attributed the crash to “massive forced liquidations” on centralized exchanges during low-liquidity hours on Sunday.Mullin told an X user that the Mantra team believes one exchange “in particular” is to blame, but said the team was still “figuring out the details,” and specified that the exchange in question is not Binance. “I think OKX was the main exchange being accused of so-called liquidations,” said Chen, adding that the large transfers to multiple exchanges raised significant red flags. She added:“I did look at the onchain data, which revealed that there were millions of OM tokens moved to centralized exchanges. That’s a very strong signal of insider dumping.”Weekend liquidity issues have impacted even major cryptocurrencies like Bitcoin (BTC).The lack of weekend trading volume, combined with Bitcoin’s 24/7 liquidity, resulted in Bitcoin’s correction below $75,000 on Sunday, April 6, Cointelegraph reported.The April 6 correction may have occurred due to Bitcoin being the only large tradable asset over the weekend available for de-risking amid global trade war concerns, Lucas Outumuro, head of research at crypto intelligence platform IntoTheBlock, told Cointelegraph.Magazine: Illegal arcade disguised as … a fake Bitcoin mine? Soldier scams in China: Asia Express
Binance helps countries with Bitcoin reserves, crypto policies, says CEO
Cryptocurrency exchange Binance is involved in discussions on establishing strategic digital asset reserves with several countries, its CEO, Richard Teng, reportedly said.Binance has been advising multiple governments on establishing strategic Bitcoin (BTC) reserves and formulating crypto asset regulations, Teng said in an interview with the Financial Times on April 17.“We have actually received quite a number of approaches by a few governments and sovereign wealth funds on the establishment of their own crypto reserves,” Teng told the FT.Teng did not identify any countries but said that the United States is “way ahead on that front.”US fuels global crypto reserve spreeAccording to Teng, the main reason for governments approaching Binance for help in handling potential strategic reserves is the new crypto-friendly agenda in the US.Teng referred to key US crypto policy developments, such as discussions around creating a national Bitcoin reserve and digital asset stockpile. Earlier this year, Trump signed an executive order to establish a Strategic Bitcoin Reserve seeded with BTC forfeited in federal criminal and civil cases.Binance founder Changpeng Zhao (on the left) next to Pakistan’s deputy prime minister Mohammad Ishaq Dar and Pakistan Crypto Council CEO Bilal bin Saqib. Source: Pakistan governmentWhile governments of Pakistan and Kyrgyzstan have announced collaboration with Binance and former CEO Changpeng Zhao on crypto regulations in the past few weeks, none of the jurisdictions mentioned crypto reserve plans on their agenda.Binance shifts stance on headquartersAs Binance deepens its involvement in efforts to help countries set up crypto reserves and regulations, it appears to have shifted away from its no-formal-headquarters approach under Zhao.According to Teng, Binance is “working very hard” on plans for a global headquarters for the exchange.Related: Crypto Biz: Ripple’s ‘defining moment,’ Binance’s ongoing purge“It requires serious deliberation and the board and the senior management are spending a lot of time doing the evaluation,” Teng reportedly said, adding: “Hopefully we are able to announce our intentions on that front.”Source: Changpeng “CZ” ZhaoIn 2019, Zhao said that offices and headquarters are “old concepts like SMS and MMS.”The shift comes as more jurisdictions adopt clearer frameworks for regulating crypto businesses. Binance was subject to heavy scrutiny and investigations by multiple governments in 2020.Cointelegraph approached Binance for comment regarding its crypto policy collaboration with governments worldwide, but had not received a response by the time of publication.Magazine: How crypto laws are changing across the world in 2025