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Bitcoin surged past $78,000 as easing tensions in the Middle East boosted sentiment across financial markets, with the overall cryptocurrency market capitalisation climbing above $2.7 trillion. The rally followed news that the ceasefire between the US and Iran had been extended, alongside remarks from US President Donald Trump suggesting Iran’s leadership is under strain and that further military action would be paused while diplomatic discussions continue.
The improved geopolitical outlook sparked broad gains across major cryptocurrencies, with Ethereum, Monero and Bitcoin Cash rising between 4% and 9% in a single day, continuing a pattern of crypto strength during recent de-escalation events in the region. At the same time, the rapid price movement led to significant losses for over-leveraged traders, with around 110,000 liquidations recorded in 24 hours and total losses reaching approximately $460 million, heavily skewed towards short positions. Bitcoin accounted for about $212 million of liquidations and Ethereum $123 million, with the largest single position closure occurring on Bitget and exceeding $7.5 million. Source
A US senator has called for the Senate Banking Committee to postpone its markup of the CLARITY Act, a major crypto market structure bill, until May in order to allow more time for discussions between the banking and crypto sectors. Senator Thom Tillis of North Carolina argued that further engagement is needed, particularly around disagreements on stablecoin yield provisions, and has urged Banking Chair Tim Scott not to rush the process. He suggested that all stakeholders should be given adequate opportunity to present their positions before any formal advancement of the legislation.
The delay has raised concerns that the bill could struggle to pass before the US midterm elections in November, with officials warning that a change in political control could stall or derail progress entirely. The banking industry has expressed worries that allowing stablecoin rewards could draw deposits away from traditional banks, especially smaller community lenders, while crypto figures such as Coinbase CEO Brian Armstrong have pushed for more favourable rules. Industry groups like The Digital Chamber have urged lawmakers to move faster, arguing that millions of Americans are waiting for clearer regulation and that continued delays risk undermining momentum for the legislation. Source
OCBC, one of Singapore’s largest banks, has launched a tokenised physical gold fund with a blockchain-based token called GOLDX, issued on both Ethereum and Solana. Developed in partnership with Lion Global Investors and DigiFT, the product is aimed at institutional investors such as hedge funds and asset managers, allowing them to buy and sell exposure to gold using fiat currency or stablecoins. Once purchased, the tokens are delivered directly to investors’ blockchain wallets, reflecting OCBC’s broader strategy to integrate traditional finance with decentralised finance infrastructure.
The fund is linked to the LionGlobal Singapore Physical Gold Fund, which launched in December and held around $525 million in assets under management as of mid-April. OCBC said the initiative is designed to attract crypto-native investors and high-net-worth individuals active in blockchain markets, building on its earlier experiments with tokenised financial products. The move comes amid growing momentum in real-world asset tokenisation, which is now valued at over $29 billion on public blockchains and has risen by more than 10% in the past month, according to industry data. Source
OP Labs, the team behind the Optimism layer-2 Ethereum network, has launched a new privacy-focused feature called Privacy Boost aimed at making Ethereum more suitable for enterprise use. The system enables private transactions and interactions with decentralised finance applications while still supporting regulatory requirements such as Know Your Customer rules. It is built using technologies like zero-knowledge proofs, which verify information without revealing underlying data, and Trusted Execution Environments that help ensure fast and secure private computation.
The goal is to attract more institutional adoption by offering a balance between privacy and compliance, allowing businesses to build auditable blockchain systems without fully exposing transaction data. OP Labs expects to expand the feature to other blockchains in the coming weeks. The launch comes as competing networks focusing on permissioned privacy features gain traction with financial institutions, including initiatives like Canton Network supported by major players such as Visa. Despite this push, Optimism has faced challenges, including workforce reductions and a sharp decline in its OP token price over the past year. Source
A consortium of 12 European banks led by Qivalis has chosen Fireblocks to provide the core infrastructure for a new euro-denominated stablecoin designed to comply with the European Union’s Markets in Crypto-Assets Regulation (MiCA). The stablecoin is being developed as a fully regulated, 1:1-backed digital euro token issued under Dutch supervision, with backing from major banks including BBVA, BNP Paribas, ING and UniCredit. The project is aimed at institutional use cases such as settlement, treasury operations and tokenised asset transactions, with Fireblocks supplying custody, tokenisation tools, wallet infrastructure and compliance features such as identity checks and sanctions screening.
The initiative reflects a broader push by European financial institutions to reduce reliance on US dollar-based stablecoins, which currently dominate the global market. With the total stablecoin market valued at around $320 billion and roughly 99% of supply tied to the dollar, European banks are seeking to establish a regulated euro alternative to support payments and financial infrastructure within the region. The consortium plans to launch the stablecoin in the second half of 2026, pending approval from the Dutch central bank, as regulators across Europe continue to emphasise tighter oversight and coordination of stablecoin markets. Source
The Philippine Securities and Exchange Commission has issued a warning against dYdX and six other crypto platforms, stating that they are not authorised to solicit investments in the country. The regulator said platforms including Aevo, gTrade, Pacifica, Orderly, Deriv and Ostium appear to be offering investment opportunities and returns to the public without the necessary registration or approval under the Philippines’ crypto-asset service provider framework. As a result, they are considered to be operating illegally within the jurisdiction.
The SEC also warned that individuals promoting or facilitating access to these platforms in the Philippines could face serious penalties under securities law, including fines of up to 5 million Philippine pesos or prison sentences of up to 21 years. The move is part of a wider regulatory crackdown on unlicensed crypto activity in the country, which has already included blocking major exchanges such as Binance, Coinbase and Gemini, as authorities continue tightening enforcement while allowing only compliant firms to offer regulated crypto services. Source
DoorDash has announced plans to use Stripe’s payments-focused blockchain, Tempo, to pay its delivery workers and merchants in stablecoins across more than 40 countries. The company said the move is intended to streamline global payouts by reducing settlement times, cutting foreign exchange costs, and removing intermediaries from cross-border payments. DoorDash co-founder Andy Fang said the goal is to make payments feel more seamless for users while accommodating the varying regulatory and financial requirements across different markets.
The firm highlighted that stablecoin-based settlement can be completed in seconds compared with the longer processing times often seen in traditional international payments, depending on the country. DoorDash is working with Tempo in the early stages, alongside other major firms involved in its development, and says it is prioritising compliance and reliability as it explores broader rollout. The announcement comes as markets reacted modestly, with DoorDash shares slightly lower following the news, while broader industry interest continues to grow in blockchain-based payment systems for real-time global transactions. Source
Shipping companies with vessels stuck near the Strait of Hormuz are being targeted by scammers posing as Iranian authorities, who are demanding cryptocurrency payments for safe passage. According to maritime risk firm Marisks, these fraudulent actors have contacted shipowners claiming to represent Iranian security services and requested transit fees in Bitcoin or USDT in exchange for clearance through the strategically important waterway. The Strait of Hormuz, a critical global energy chokepoint, has been largely disrupted following escalating conflict in the Middle East.
Marisks warned that the messages are not genuine and do not come from Iranian authorities, although Tehran has not commented publicly on the reports. The scam involves instructions for shipping firms to submit verification documents before being assigned a crypto “fee” for passage, with at least one vessel potentially targeted after being fired upon while attempting to leave the area. Analysts also cautioned that any real crypto payments linked to Iranian-controlled routes could expose companies to sanctions risks under international law, particularly if they are deemed to support sanctioned entities. Source
The updated Markethive profile pages are presented as a major upgrade that turns a user’s profile into a dynamic recruitment and branding hub rather than a static online CV. The platform emphasises real-time activity, social proof, and integrated marketing tools, designed to help members attract recruits, partners and business opportunities. External visitors see a streamlined introduction to the member with clear calls to action such as joining or logging in, while logged-in users experience different interaction options depending on their connection status, including friend requests, messaging and networking features.
The profiles also centralise content creation and professional identity management, allowing users to publish posts, manage blogs, and update personal information through an embedded editor. Additional tools include image and cover photo management, configuration settings for privacy and branding, social media integration, and access to features like conference rooms and referral links. The system displays performance and credibility indicators such as activity statistics, Hive Rank, micropayment status and ownership markers, while also supporting advertising placements and announcements. Users are given granular control over what external visitors can see, with some features hidden or disabled for non-members, reinforcing the platform’s focus on controlled visibility and professional networking within the Markethive ecosystem. Source
Core Scientific, a Bitcoin mining company that has increasingly shifted towards data centre operations, has announced plans to issue $3.3 billion in speculative-grade debt as it accelerates its move into artificial intelligence infrastructure. The firm intends to use part of the proceeds to refinance existing debt, although it has not yet disclosed the interest rate or full terms of the notes due in 2031. The company is also continuing development of six data centre facilities under a 12-year agreement with cloud computing firm CoreWeave, a partnership that could generate around $10 billion in revenue.
Alongside its fundraising plans, Core Scientific has indicated it is prepared to sell all of its Bitcoin holdings to support its strategic pivot, having already reduced its reserves significantly. The firm, valued at about $6.55 billion, has seen its share price rise amid growing demand for AI-focused data centre capacity across the United States, with its stock up strongly this year. Having emerged from bankruptcy in 2024, the company is part of a broader trend among former Bitcoin miners redirecting resources towards AI infrastructure as the sector expands. Source
The attacker behind the approximately $290 million Kelp DAO exploit has begun moving large amounts of stolen Ether, with about 75,700 ETH worth roughly $175 million transferred across multiple transactions on Tuesday. The funds were split between newly created wallet addresses, suggesting an early attempt to launder the assets, with blockchain investigators noting further movement through privacy-focused and cross-chain services such as THORChain and Umbra. Arkham linked the activity to the exploit wallet, while on-chain analysts highlighted smaller additional transfers already passing through decentralised infrastructure that can make tracking funds more difficult.
The exploit itself occurred after around 116,500 restaked Ether was drained from Kelp DAO’s LayerZero-powered rsETH bridge, with estimates of losses ranging up to nearly $293 million. The incident has triggered wider disruption across decentralised finance, including emergency action by Arbitrum to freeze and isolate nearly 31,000 ETH linked to the hack, and knock-on effects for protocols such as Aave, which saw rising borrowing rates and significant withdrawals. Aave reported potential bad debt scenarios ranging from about $123.7 million to $230.1 million, while overall liquidity pressures pushed its total value locked down by around $10 billion following the exploit. Source
Tether’s USDT has strengthened its position as the leading stablecoin in the crypto market, with its market capitalisation reaching an all-time high as decentralised finance users appear to shift towards it amid recent high-profile hacks. Following the $285 million exploit of Drift Protocol, USDT’s market cap rose by about 2.1% to nearly $188 billion, while USDC, issued by Circle, grew more slowly to around $78.25 billion. Analysts suggest that repeated DeFi security incidents, including the Kelp DAO-related exploit, have driven investors to move funds into stablecoins perceived as more liquid and resilient during periods of market stress.
Market observers note that USDT may be benefiting from its deeper liquidity across major trading venues, making it a preferred option for users seeking to quickly exit on-chain positions during volatility. Investment bank Compass Point warned that outflows from decentralised finance could reduce on-chain USDC usage, potentially impacting revenue for both Circle and Coinbase due to lower interest income from reserves. The report also highlights investor concern following rapid withdrawals from lending protocols such as Aave after recent exploits, while Circle has faced additional scrutiny and legal pressure over its handling of frozen funds during the Drift Protocol incident. Source
The UK government has announced plans to overhaul its payments regulations to better accommodate stablecoins and tokenised deposits, as part of a broader push to modernise digital financial markets. HM Treasury, led by Economic Secretary Lucy Rigby, said it will consult on reforms to payment services and electronic money rules, aiming to create a unified framework that covers both traditional payments and emerging tokenised systems. The proposals are intended to reduce regulatory friction for firms offering stablecoin payment services and support the UK’s competitiveness in digital finance.
As part of the initiative, former Financial Conduct Authority official Chris Woolard has been appointed as a digital markets champion to help guide the country’s wholesale financial markets strategy. He will support efforts to encourage adoption of tokenised assets and improve collaboration between the public and private sectors. The government also plans to examine how payment rules should apply to transactions executed by AI agents on behalf of users. The broader regulatory package is expected to form part of legislation due by 2027, signalling a gradual but structured approach to integrating crypto-related technologies into the UK financial system. Source
A coalition of 39 financial firms and industry groups, including Nasdaq and Boerse Stuttgart, has called on the European Union to accelerate reforms to its blockchain regulations, warning that Europe risks falling behind the United States in the development of tokenised finance. In a joint letter to EU policymakers, the group urged that the DLT Pilot Regime be treated as a standalone law rather than being bundled into broader legislative reforms, arguing that doing so would avoid delays that could slow adoption of distributed ledger technology across financial markets.
The DLT Pilot Regime, introduced in 2023, allows firms to test blockchain-based trading and settlement of traditional assets such as stocks, bonds and funds under controlled conditions. The signatories are pushing for significant expansion of the framework, including higher asset and issuance limits and the removal of time restrictions on licences. They argue that current constraints are limiting market growth and could push liquidity and innovation towards the US, where regulators have already begun integrating tokenised securities into existing financial systems. The warning reflects growing pressure on Europe to adapt more quickly as global competition in digital capital markets intensifies. Source
Leading prediction market platforms Kalshi and Polymarket are reportedly expanding into derivatives trading by introducing perpetual futures, signalling a move beyond traditional event-based betting into broader financial markets. According to reports, Kalshi plans to offer crypto trading that would give users access to perpetual futures, while Polymarket has indicated that its platform will soon allow users to speculate on asset prices with leverage of at least 10x. The assets referenced include cryptocurrencies such as Bitcoin, commodities like gold and silver, and equities including major tech and crypto-related stocks.
Both firms operate under the US Commodity Futures Trading Commission framework as designated contract markets, which allows them to offer certain futures and options products. The push into perpetual futures comes amid rising interest in leveraged derivatives trading across crypto markets, with decentralised exchange Hyperliquid recently reporting significant trading volumes in the sector. However, the expansion of prediction markets into more traditional financial instruments is also drawing regulatory scrutiny, with US authorities already taking legal action against similar platforms over concerns that certain products may breach gambling or securities laws. Source
A new survey by Börse Stuttgart Digital suggests that cryptocurrency access is becoming an increasingly important factor in how European investors choose their banks. Around 35% of respondents said they would consider switching to a different bank if it offered better crypto investment services, indicating that digital assets are beginning to influence traditional banking relationships. The study, which surveyed about 6,000 investors across Germany, Italy, Spain and France, also found that nearly one in five expect their primary bank to provide crypto access within the next three years.
Despite growing interest, the survey highlights that regulatory uncertainty and lack of education remain major barriers to wider adoption, with most respondents viewing crypto as insufficiently regulated. However, the EU’s Markets in Crypto-Assets Regulation has already improved confidence for many investors, with nearly half saying it has made digital assets feel safer and more attractive. Adoption levels vary across Europe, with Spain showing the highest participation. The findings come as traditional financial institutions increasingly integrate crypto services, supported by clearer regulatory frameworks such as MiCA, which is helping banks and infrastructure providers expand into digital asset offerings. Source
Coinbase’s Independent Advisory Board on Quantum Computing and Blockchain has warned that proof-of-stake blockchains such as Ethereum and Solana could face heightened vulnerability to future quantum computing attacks due to their reliance on cryptographic validator signatures. The report highlights that these signature schemes, used to secure consensus and verify transactions, could eventually be broken if sufficiently advanced quantum computers are developed. It also notes that wallet cryptography, which proves ownership and authorises transactions, represents another long-term risk area, particularly for wallets where public keys are already exposed on-chain.
While the report stresses that current quantum computers are nowhere near capable of breaking modern encryption, it argues that the industry should begin preparing for a transition to quantum-resistant systems well in advance. It references ongoing research by Ethereum developers into replacing existing signature schemes with more secure alternatives and acknowledges that upgrading blockchain infrastructure could take years due to technical complexity. The advisory board also emphasises that Bitcoin and other networks remain secure for now, but warns that coordination across wallets, exchanges and protocols will be necessary to avoid future exposure if quantum capabilities advance significantly. Source
Disclaimer: These articles are provided for informational purposes only, mistakes may be made, and they are not offered or intended to be used as legal, tax, investment, financial, or any other advice.
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