Auradine raises $153M, debuts business group for AI data centers
Auradine, a Silicon Valley-based startup that specializes in equipment for AI data centers and Bitcoin mining, has announced a raise of $153 million in a Series C funding round. The new capital will go to increasing the company’s product suite of infrastructure for AI and blockchain technology.The Series C round was led by StepStone Group and included participation from Maverick Silicon, Premji Invest, Samsung Catalyst Fund, Qualcomm Ventures, and others. Auradine said the round was oversubscribed but did not disclose by how much or at what valuation the funds were raised.Along with the funding round, Auradine announced the launch of AuraLinks AI — its new business group dedicated to networking solutions targeting data centers’ energy and cooling costs.According to Goldman Sachs, energy demand due to AI data centers is expected to rise 165% by 2030. Building a small-scale AI data center can cost $10 million to $50 million, while large-scale AI data centers can cost hundreds of millions.Auradine designs and manufactures application-specific integrated circuits (ASICs) and related systems for Bitcoin mining. The company sees a strategic opportunity in the current US-China trade tensions and US President Trump’s push to boost domestic manufacturing. Among its main competitors is the Chinese-based firm Bitmain, which reportedly holds a 90% market share in the Bitcoin manufacturing sector. Related: How to mine Bitcoin: A beginner’s guide to mining BTCCrypto mining market to grow at CAGR 13% until 2034According to Precedence Research, the cryptocurrency mining market was valued at $2.5 billion in 2024 and is expected to have a compound annual growth rate of 13% until 2034. If that prediction is accurate, the mining market will reach a size of $8.2 billion by 2034.The rising Bitcoin hashrate, coupled with the increasing energy demands following each halving, is intensifying competition in the mining sector. As a result, the push for greater efficiency and advanced technology may create openings for new players to gain market share.Trump’s dual desires to make the US “the crypto capital of the planet” and bring manufacturing on-shore may also play a role. The US accounts for over 40% of the Bitcoin (BTC) hashrate, but US-based miners still rely heavily on China-manufactured rigs.Auradine’s $80 million Series B round, like its Series C, was oversubscribed. In total, the company has raised over $300 million across all funding rounds.Magazine: Asia Express: Bitcoin miners steamrolled after electricity thefts, exchange ‘closure’ scam
Bitcoin US vs. offshore exchange ratio flashes bullish signal, hinting at BTC price highs in 2025
US-based crypto trading platforms regaining influence over Bitcoin’s (BTC) token transfer volumes could possibly kick-start a rally in the second half of 2025. Bitcoin researcher Axel Adler Jr pointed out that the “US vs. off-shore ratio,” which measures token transfer volumes between US-regulated and offshore exchanges, indicated a drop in dominance from US exchanges after BTC reached an all-time high in January. Bitcoin total transferred ratio chart (US vs off-shore). Source: X.comAs illustrated in the chart, a trend reversal is underway, which implies BTC transfer volumes on US exchanges are beginning to rise again, aligning with previous bull market rallies. A key technical indicator in the chart is the 90-day simple moving average (SMA) crossing above the 365-day SMA. Historically, this crossover has preceded major price rallies. For example, when this signal occurred at $60,000, Bitcoin began a rally within one week. This suggests a potential price surge may occur in the coming weeks.Likewise, verified onchain analyst Boris Vest said Bitcoin is still undervalued. In a quick take post on CryptoQuant, the analyst explained that Bitcoin exchange reserves have fallen to 2018 levels, with only 2.43 million BTC held on exchanges compared to 3.4 million in 2021, indicating long-term holding and reduced supply.The Bitcoin stablecoin supply ratio (SSR) at 14.3 highlighted that significant purchasing power remains, as the ratio is below 2021 levels. Boris said, “Since it hasn’t yet reached 2021 levels, we can say that Bitcoin still appears to be undervalued. This suggests the bull market and buying pressure are likely to continue.”Related: Why is Bitcoin price down today?Bitcoin flips key monthly indicator, opening a path to $90KMarkets analyst Dom highlighted that Bitcoin’s recent multimonth downtrend breakout coincides with BTC flipping the monthly VWAP into support for the first time since January. Bitcoin analysis by Dom. Source: X.comThe Volume-Weighted Average Price (VWAP) is a technical indicator that calculates the average price weighted by trading volume. Traders use VWAP to assess trend shifts, identify support or resistance, and gauge whether an asset is overbought or oversold. Dom said, “Bulls have successfully held both of these levels for 4 days now, something we haven’t seen in months. A move above yesterday’s high and I think BTC runs near 90k.”However, Alphractal founder João Wedson remained cautious with Bitcoin near $86,000. He explained that waiting for a pullback if Bitcoin breaks above this level is the right approach, or bearish control might prevail. This echoes Alphractal’s analysis of $86,300 as a key resistance zone with the potential of becoming a bull trap.Related: Bitcoin bulls ‘coming back’ as key metric on Binance flips to neutralThis 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.
Sam Bankman-Fried's latest California prison once housed Al Capone
Former FTX CEO Sam “SBF” Bankman-Fried has moved from a transit facility to a California prison that once housed infamous gangster Al Capone.According to the Federal Bureau of Prisons website, officials moved Bankman-Fried from the Federal Transfer Center in Oklahoma City briefly to the Federal Correctional Institution in Victorville before transferring him to a facility in Terminal Island in Los Angeles, California. The federal institution was once home to criminals like former Theranos chief operating officer Ramesh Balwani and Capone, who was convicted of tax evasion in 1931.During his 2023 trial and following his conviction on seven felony counts in 2024, Bankman-Fried was housed at the Metropolitan Detention Center in New York. However, officials moved the former FTX CEO after he was the subject of an interview by right-wing political commentator Tucker Carlson — an activity reportedly unsanctioned by authorities.Related: Sam Bankman-Fried posts for the first time in 2 years, FTX Token pumpsIt’s unclear whether Bankman-Fried will remain at the California facility until his tentative release date in 2044. A New York judge initially allowed SBF to remain in the state to assist during the appeal of his conviction and sentence — a process that could be hampered by the former FTX CEO’s current location.Moving to the right for a pardon?Since the inauguration of US President Donald Trump, reports have suggested that Bankman-Fried may be attempting to reach out to right-wing advocates in an attempt to secure a presidential pardon. Silk Road founder Ross Ulbricht received a pardon from Trump during his first few days in office — reportedly in a push to win over libertarians in the election — and is scheduled to appear at the Bitcoin 2025 conference in Las Vegas.Other former FTX executives, including Caroline Ellison and Ryan Salame, remain incarcerated in different facilities and largely out of the news since reporting to prison. FTX co-founder Gary Wang and former engineering director Nishad Singh were the only two individuals named in the initial indictment who received time served rather than prison.Magazine: XRP win leaves Ripple and industry with no crypto legal precedent set
Securitize manages $38B with acquisition of MG Stover admin business
Tokenization company Securitize has expanded its digital asset operations by acquiring MG Stover’s fund administration business, in a move the company said has significantly grown its assets under management and ability to serve institutional clients.With the acquisition, MG Stover’s fund administration business has been absorbed into Securitize Fund Services, Securitize’s wholly owned subsidiary, the company disclosed. Securitize Fund Services now manages more than $38 billion in assets across 715 funds. Founded in 2007, MG Stover offers full-service fund administration spanning traditional financial industries like hedge funds, venture capital and private equity, as well as digital asset funds. A Securitize spokesperson informed Cointelegraph that the acquisition pertains only to MG Stover’s fund administration business and not the company as a whole.In an emailed statement to Cointelegraph, Securitize co-founder and CEO Carlos Domingo said, “The MG Stover acquisition significantly strengthens our institutional offering by adding one of the most experienced digital asset fund administration teams in the industry to Securitize Fund Services.” He continued:“Legacy fund administrators were never designed for the speed, complexity, or global reach of digital assets. Their systems struggle with the pressure of 24/7 markets, and they weren’t built to handle stablecoin flows or real-time settlements.”Securitize is one of the largest real-world asset (RWA) tokenization companies, having issued more than $3.3 billion in onchain assets, most notably the BlackRock USD Institutional Digital Liquidity Fund, also known as BUIDL.BUILD currently has nearly $2.5 billion in assets, according to industry data. BUIDL leads the booming market for tokenized US Treasurys. Source: RWA.xyzRelated: VC Roundup: 8-figure funding deals suggest crypto bull market far from overTokenization market heats upTokenized RWAs are a rapidly expanding segment of the blockchain industry, attracting both traditional investors and crypto-native users. RWA growth has defied the broad downtrend in the cryptocurrency market, with the total value of onchain financial assets surging 11.2% to $21 billion over the past 30 days, according to RWA.xyz.Amid the tokenization wave, Securitize recently partnered with Ethena Labs to create a new blockchain for the RWA economy. The forthcoming Converge blockchain will allow retail and institutional investors to access tokenized assets and decentralized finance applications. Meanwhile, the Mantra blockchain recently unveiled a $109 million ecosystem fund to bootstrap startups building across the RWA and DeFi economies. Related: Bitwise makes first institutional DeFi allocation
Price predictions 4/16: BTC, ETH, XRP, BNB, SOL, DOGE, ADA, LEO, LINK, AVAX
Bitcoin (BTC) has risen above $85,000, signaling that the bulls are trying to form a higher low at $83,000. The short-term price action remains susceptible to news related to the US tariffs and the ongoing trade war with China.Gold has been a clear winner during the current bout of macroeconomic uncertainty. Citing data from Bank of America (BoA), The Kobeissi Letter said that gold funds are on track to hit $80 billion in net inflows year-to-date, roughly double the amount seen in 2020. In comparison, spot Bitcoin exchange-traded funds’ net inflows have shrunk to just $165 million after weeks of continuous outflows, per CoinShares data.Crypto market data daily view. Source: Coin360However, some cryptocurrency investors are happy about gold’s rally because a popular theory suggests that Bitcoin not only copies but exceeds gold’s rally with a few months’ lag. Anonymous crypto trader Titan of Crypto said in a post on X that Bitcoin could hit $137,000 by July-August 2025.Could Bitcoin bulls build momentum and push the price above the overhead resistance? Will the altcoins also see a short-term rally? Let’s analyze the charts of the top 10 cryptocurrencies to find out.Bitcoin price analysisBitcoin failed to rise above the 200-day simple moving average ($87,660) on April 15, but a minor positive is that the buyers have sustained the price above the 20-day exponential moving average ($83,289).BTC/USDT daily chart. Source: Cointelegraph/TradingViewThe flattish 20-day EMA and the relative strength index (RSI) near the midpoint suggest the sellers are losing their grip. Buyers will have to propel the price above the 200-day SMA to seize control. If they manage to do that, the BTC/USDT pair could jump to $95,000 and eventually to the psychologically crucial level at $100,000.Contrarily, a break and close below the 20-day EMA indicates that the bulls have given up. That could pull the pair down to $78,500 and later to $73,777.Ether price analysisEther’s (ETH) relief rally stalled at the 20-day EMA ($1,697) on April 14, suggesting that bears remain active at higher levels.ETH/USDT daily chart. Source: Cointelegraph/TradingViewSellers will try to strengthen their position by pulling the price below $1,471. If they do that, the ETH/USDT pair could fall to $1,368. Buyers will try to guard the $1,368 level, but the pair could slump to $1,150 if the bears have their way.The first sign of strength will be a break and close above $1,754. That opens the gates for a possible rally to $2,111. The 50-day SMA ($1,919) may act as a barrier, but it is likely to be crossed. Buyers will have to shove the price above $2,111 to signal that the downtrend may have ended.XRP price analysisXRP (XRP) broke below the 20-day EMA ($2.10) on April 15 and reached near the critical support at $2 on April 16. XRP/USDT daily chart. Source: Cointelegraph/TradingViewThe flattish 20-day EMA and the RSI just below the midpoint suggest a possible range-bound action in the near term. The XRP/USDT pair may swing between $2 and the 50-day SMA ($2.23) for a while.A break and close above the 50-day SMA could clear the path for a rally to the resistance line. This is an important level for the bears to defend because a break above it will signal a short-term trend change. On the downside, a break and close below $2 could sink the pair to $1.61.BNB price analysisBNB (BNB) has been trading inside a triangle, signaling buying near the support line and selling close to the downtrend line. BNB/USDT daily chart. Source: Cointelegraph/TradingViewThe downsloping moving averages and the RSI just below the midpoint indicate a slight edge to the bears. There is support at $566 and then at $550. If the price rebounds off the support, the bulls will again try to shove the price above the downtrend line. If they can pull it off, the BNB/USDT pair could rally to $644.Sellers are likely to have other plans. They will try to pull the price below $550 and retest the support line.Solana price analysisSellers successfully defended the 50-day SMA ($130) in Solana (SOL) and are trying to pull the price below the $120 support.SOL/USDT daily chart. Source: Cointelegraph/TradingViewThe flattish 20-day EMA ($124) and the RSI near the midpoint suggest a balance between supply and demand. Buyers are expected to defend the $120 to $110 support zone. If the price rebounds off the support zone, the bulls will again attempt to drive the SOL/USDT pair above the 50-day SMA. If they succeed, the pair could reach $153.Alternatively, if the price continues lower and breaks below $110, it indicates that bears remain in control. The pair could then tumble to the $95 support.Dogecoin price analysisDogecoin (DOGE) has been gradually sliding to the vital support at $0.14, where the buyers are expected to step in.DOGE/USDT daily chart. Source: Cointelegraph/TradingViewThe positive divergence on the RSI suggests that the bearish momentum could be weakening. If the price turns up from the current level or $0.14, the possibility of a break above the 50-day SMA ($0.17) increases. The DOGE/USDT pair will complete a double-bottom pattern on a break above $0.21, signaling that the downtrend may have ended.Conversely, a break and close below $0.14 signals the resumption of the downtrend toward the next major support at $0.10.Cardano price analysisCardano (ADA) turned down from the 20-day EMA ($0.64) on April 13, indicating that the bears continue to sell on rallies.ADA/USDT daily chart. Source: Cointelegraph/TradingViewSellers will try to strengthen their position by pulling the price below the $0.58 support. If they succeed, the ADA/USDT pair could slump to the critical level at $0.50. Buyers are expected to defend the level with all their might because the failure to do so may extend the downtrend to $0.40.On the upside, buyers are likely to face selling in the zone between the moving averages. A break and close above the 50-day SMA ($0.70) opens the doors for a rally to $0.83.Related: Why is XRP price down today?UNUS SED LEO price analysisBuyers have pushed UNUS SED LEO (LEO) above the 20-day EMA ($9.39), which is a positive sign.LEO/USD daily chart. Source: Cointelegraph/TradingViewThere is minor resistance at the 50-day SMA ($9.58), but the level is expected to be crossed. The LEO/USD pair may then retest the critical overhead resistance of $9.90. If buyers overcome the barrier at $9.90, the pair will complete an ascending triangle pattern. That could start a move toward the target objective of $12.04.Sellers will have to pull and maintain the price below $9.24 to gain the upper hand. That could start a decline to $8.79. Chainlink price analysisBuyers are struggling to propel Chainlink (LINK) above the 20-day EMA ($12.81), but they have kept up the pressure.LINK/USDT daily chart. Source: Cointelegraph/TradingViewThere is minor support at $11.68, but if the level cracks, the LINK/USDT pair could plunge to the support line of the descending channel pattern. Buyers are expected to defend the level, but if the bears prevail, the pair could drop to $8.If buyers want to make a comeback, they will have to kick the price above the moving averages. The pair could then climb to $16 and later to the resistance line. A break and close above the channel signals a potential trend change.Avalanche price analysisThe failure to push Avalanche (AVAX) above the downtrend line may have attracted profit booking by the short-term bulls.AVAX/USDT daily chart. Source: Cointelegraph/TradingViewThe bears are trying to sink the AVAX/USDT pair below the 20-day EMA ($18.98). If they manage to do that, the pair could descend to the $15.27 support. Buyers are expected to vigorously defend the $15.27 level because a break below it may start the next leg of the downtrend to $14 and then $12.The first sign of strength will be a break and close above the downtrend line. That opens the doors for a rally to $23.50. If buyers overcome this barrier, the pair will complete a double-bottom pattern with a target objective of $31.73.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.
Court grants 60-day pause of SEC, Ripple appeals case
An appellate court has granted a joint request from Ripple Labs and the Securities and Exchange Commission (SEC) to pause an appeal in a 2020 SEC case against Ripple amid settlement negotiations.In an April 16 filing in the US Court of Appeals for the Second Circuit, the court approved a joint SEC-Ripple motion to hold the appeal in abeyance — temporarily pausing the case — for 60 days. As part of the order, the SEC is expected to file a status report by June 15.April 16 order approving a motion to hold an appeal in abeyance. Source: PACERThe SEC’s case against Ripple and its executives, filed in December 2020, was expected to begin winding down after Ripple CEO Brad Garlinghouse announced on March 19 that the commission would be dropping its appeal against the blockchain firm. A federal court found Ripple liable for $125 million in an August ruling, resulting in both the SEC and blockchain firm filing an appeal and cross-appeal, respectively.However, once US President Donald Trump took office and leadership of the SEC moved from former chair Gary Gensler to acting chair Mark Uyeda, the commission began dropping multiple enforcement cases against crypto firms in a seeming political shift. Ripple pledged $5 million in XRP to Trump’s inauguration fund, and Garlinghouse and chief legal officer Stuart Alderoty attended events supporting the US president.Related: SEC dropping Ripple case is ‘final exclamation mark’ that XRP is not a security — John DeatonDespite support for the end of the case coming from both Ripple and the SEC, the August 2024 judgment and appellate cases leave some legal entanglements. Alderoty said in March that Ripple would drop its cross-appeal with the SEC and receive a roughly $75 million refund from the lower court judgment. It’s unclear what else may result from negotiations over a settlement in appellate court.New leadership at SEC incomingActing chair Uyeda is expected to step down following the US Senate confirming Paul Atkins as SEC chair on April 9. During his confirmation hearings, lawmakers questioned Atkins about his ties to crypto, which could create conflicts of interest in his role regulating the industry. In financial disclosures, Atkins stated he had millions of dollars in assets through stakes in crypto firms, including Securitize, Pontoro and Patomak. Magazine: SEC’s U-turn on crypto leaves key questions unanswered
Bitwise lists four crypto ETPs on London stock exchange
Asset manager Bitwise has listed four Bitcoin (BTC) and Ether (ETH) exchange-traded products on the London Stock Exchange, expanding its presence in the European region.The listings include the Bitwise Core Bitcoin ETP, the Bitwise Physical Bitcoin ETP, Bitwise’s Physical Ethereum ETP, and the Bitwise Ethereum Staking ETP, according to the April 16 announcement.The products are available to institutional or otherwise-qualified investors with an accreditation, and not open to retail investors.Bitwise is applying to launch crypto investment vehicles as digital assets gain a greater foothold in global financial markets, attracting more institutional interest in crypto and increasing the legitimacy of the nascent asset class.Related: Bitwise doubles down on $200K Bitcoin price prediction amid trade tensionBitwise expands ETF offerings following a regulatory shift in the USThe resignation of former Securities and Exchange Commission (SEC) Chairman Gary Gensler triggered a wave of crypto ETF applications in the United States. Asset managers and crypto firms rushed to submit filings in anticipation of a relaxed regulatory regime once Gensler left the agency in January.Bitwise’s BTC and ETH ETF, which gives investors exposure to both digital assets in a single investment vehicle, was granted preliminary approval by the SEC in January but still requires final approval before listing.In March 2025, the New York Stock Exchange (NYSE) submitted an application for a rule change to list the Bitwise Dogecoin ETF on the US-based exchange.If approved, Dogecoin (DOGE) would be the first memecoin with a US-listed investment vehicle and could attract more institutional inflows into the dog-themed social token.Bitwise also filed for an Aptos ETF in March. The proposed Bitwise Aptos ETF will hold the native cryptocurrency of the high-throughput layer-1 blockchain, APT (APT), and will not feature staking rewards.Bitwise CIO Matt Hougan predicted Bitcoin ETFs would attract $50 billion in inflows during 2025.Institutional inflows into crypto ETFs act as a price stabilizer for digital assets with investment vehicles, lowering volatility through a pipeline siphoning capital from traditional investors in the stock market to cryptocurrencies.Magazine: Bitcoin ETFs make Coinbase a ‘honeypot’ for hackers and governments: Trezor CEO
Bitcoin tipped for 2023-style rebound as Goldman says dollar 'overvalued'
Bitcoin (BTC) centered on $84,000 at the April 16 Wall Street open amid hopes that a weak US dollar would fuel a bull market comeback.BTC/USD 1-hour chart. Source: Cointelegraph/TradingViewBitcoin analysis calls for 2023 rally repeatData from Cointelegraph Markets Pro and TradingView showed BTC/USD consolidating after a swift comedown from local highs the day prior.That volatility had accompanied ongoing developments in the US-China trade war, with crypto and risk assets staying sensitive to headlines and statements from parties such as US President Donald Trump.The S&P 500 and Nasdaq Composite Index traded down 1.4% and 2.2%, respectively, at the time of writing.Gold remained the standout winner, having set new all-time highs above $3,300 per ounce on the day.“Unlike gold, BTC has not caught a safe-haven bid,” trading firm QCP Capital summarized in its latest bulletin to Telegram channel subscribers. “The ‘alternative store of value’ narrative isn’t gaining traction in the current macro regime. Positioning remains defensive. Participants are still focused on hedging their downside until greater clarity emerges.”Gold/USD price 1-hr candle chart. Source: Cointelegraph/TradingViewLooking for potential tailwinds, market participants focused on the US dollar’s inability to reclaim prior support after sliding precipitously as the trade war took hold.The US dollar index (DXY) hovered near multiyear lows after rejecting at the psychologically significant 100 mark.US Dollar Index price 1-hr candle chart. Source: Cointelegraph/TradingView“DXY is dropping at its fastest pace since 2023,” popular trader BitBull told followers in a post on X.BitBull drew comparisons to BTC price performance from the time, with early 2023 seeing Bitcoin and altcoins emerge from the pit of the 2022 bear market.“Back then, $BTC had already bottomed (Q4 2022) and went on to rally 200%+ within a year,” he continued.“I guess it’s time for btc to repeat the 2023-24 rally.”Source: X/@AkaBull_Andre Dragosch, European head of research at asset management firm Bitwise, meanwhile flagged Goldman Sachs research seeing further DXY downside to come.“NOTE: US Dollar is still significantly overvalued according to GS,” he commented alongside a Goldman chart of dollar strength versus US growth performance. “Lots of room for USD depreciation = upside potential for BTC to re-rate.”Source: X/@Andre_DragoschBTC price gives cautious bullish hintsBitcoin traders eyed various positive chart signals on the day, with these including a potential bottom formation on the 4-hour chart.Related: Can 3-month Bitcoin RSI highs counter bearish BTC price ‘seasonality?’“Forming an Inverse Head & Shoulders Pattern on the 4H timeframe, if we manage to hold a Higher Low in the coming days,” popular trader Luca suggested.Source: X/@MirageMogulCrypto trader, analyst and entrepreneur Michaël van de Poppe hoped for a fresh retest of resistance, for him one of two key areas of interest.“Bitcoin is still nicely consolidating between the two levels,” he concluded. “The test at $87K did happen, and I think that we’ll see a big breakout once we’ll retest it again. What’s next? Likely a run to ATH at the end of this quarter.”Source: X/@CryptoMichNLThis 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.