Crypto News
21Shares files for US spot Sui ETF after European launch
Major European cryptocurrency investment firm 21Shares has filed for a spot Sui exchange-traded fund (ETF) in the United States, marking another step in its expansion to the US market.21Shares on April 30 submitted the Form S-1 registration for a spot Sui (SUI) ETF to the US Securities and Exchange Commission (SEC).Called the 21Shares Sui ETF, the proposed ETF will issue common shares of beneficial interest by seeking to track the performance of SUI held by 21Shares’ US subsidiary.The US filing comes a year after 21Shares started trading the 21Shares Sui Staking exchange-traded product in Europe in July 2024, with its first listings on Euronext Paris and Euronext Amsterdam.No ticker or planned exchange yetThe 128-page filing does not specify on which US exchange the new SUI ETF is expected to debut trading. The ETF also doesn’t have a ticker symbol yet.“There is no certainty that there will be liquidity available on the exchange or that the market price will be in line with the NAV [net asset value] or the principal market NAV at any given time,” it states.An excerpt from the S-1 Form for 21Shares Sui ETF. Source: SECThe filing highlighted that the ETF aims to provide exposure to SUI by holding the tokens directly, without utilizing leverage, derivatives or engaging in speculative trading.Canary Capital was the first to file for Sui ETF21Shares is not the first company to file for a Sui ETF in the US. Canary Capital, a US-based crypto investment firm, filed a Form S-1 registration for a spot Sui ETF on March 17.Subsequently, Cboe BZX Exchange asked US regulators for clearance to list Canary’s Sui ETF in early April.Sui-based ETPs have already been trading in Europe, with some of such products including 21Shares Sui staking ETP and VanEck Sui ETP.Related: More than 70 US crypto ETFs await SEC decision this year — BloombergAccording to the latest CoinShares update, Sui-based ETPs had $400 million in assets under management as of April 25.Sui (SUI) ETP products had $400 million in AUM as of April 25, 2025. Source: CoinSharesYear-to-date, Sui ETPs have seen $72 million of inflows, with a fresh $20.7 million coming in just last week.The latest ETF filing by 21Shares is yet another product joining a massive list of crypto ETFs awaiting the SEC’s decision.Source: Eric BalchunasAccording to Bloomberg ETF analysts Eric Balchunas and James Seyffart, there were at least 72 new crypto ETF filings on the SEC’s table as of May 1.Magazine: Bitcoin $100K hopes on ice, SBF’s mysterious prison move: Hodler’s Digest, April 20 – 26
Published Date: 2025-05-01 13:42:22Creator: Cointelegraph by Helen Partz
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$21B tokenized RWA market doubtful, institutions uninterested — Plume CEO
Amid the intensifying global race to tokenize real-world assets, the market is still too nascent for institutional adoption, according to Chris Yin, the co-founder and CEO of Galaxy-backed RWA platform Plume.Institutional capital is yet to enter the RWA market, and it will take some time for institutions to see its value, Yin told Cointelegraph on the sidelines of Token2049 in Dubai.“These things move incredibly slowly, you have to show value, you have to show adoption first,” Yin said, comparing RWA’s currently developing stages with the early days of Bitcoin (BTC) and stablecoins.“Only now, 10 years later, are they beginning to think about using the stablecoin. The same thing is going to happen in tokenized assets or tokenization,” Yin said.Tokenized RWAs are far smaller than $21 billionYin questioned the accuracy of existing market estimates, which suggest the RWA sector is worth more than $21 billion.“I tend to think that one, all the data is wrong, and two, the perspective that most people have is wrong with this, which is I take this $21 billion in assets,” Yin said.According to the exec, the real RWA market cap figure is “more like” $10 billion, mostly including Treasury bills and gold, and just a “bit of private credit.”Total RWA market chart and main components as of April 27, 2025. Source: RWA.xyzRWA.xyz suggests that the total market capitalization of the RWA market amounted to roughly $17.4 billion as of April 27, with private credit accounting for almost 60% of all RWAs, while Treasury’s and commodities share was 27% and 8%, respectively.Private credit is not the main driver for RWAsEstimating the size of the global RWA market is extremely difficult, especially on the private side, where data is “fragmented and often inaccessible,” Stobox co-founder Ross Shemeliak told Cointelegraph.According to Stobox’s estimations, tokenized Treasurys and bonds must account for the majority of RWAs today, or between 60–65%.“Crucially, 99.9% of all companies in the world are private, and nearly all of them are untapped candidates for tokenization,” Shemeliak said, adding that such companies typically struggle with access to capital and liquidity.“Tokenization provides an entirely new mechanism for fundraising, investor engagement, and cap table transparency,” he noted.Institutions are here for the moneyPlume CEO Yin highlighted the nature of institutional capital, which tends to move in while markets reach a bigger scale in order to make some money.“I think people tend to forget what's going on with institutions and the real world,” Yin said. “So the reason why tokenized assets are interesting to them is because they are looking for an angle to make more money, not to save money, not to do efficiency.”Plume CEO Chris Yin at Token2049 in Dubai. Source: Plume“Nobody cares about that, especially Larry Fink, who runs a $12 trillion asset manager,” Yin said, adding that BlackRock’s money market fund has been successful, but its $2.5 billion assets are tiny given the company’s net assets.Related: Deloitte predicts $4T tokenized real estate on blockchain by 2035With the current modest size of the RWA market, the industry should currently rely more on the native community, Yin said, adding:“There are zero institutions putting money onchain. They are trying to actually suck money out of the ecosystem. Their products try to sell new things to crypto. Not putting money here.”“Yes, RWA tokenization is small today, just like Bitcoin was in 2013,” Stobox’s Shemeliak admitted.However, tokenized assets are “fundamentally institutional from day one” as they provide regulated securities, yield-bearing instruments, and financial contracts that require legal compliance and governance.“Tokenizing RWAs without institutional involvement is like trying to build a stock exchange without regulators, custodians or settlement layers,” he said, adding:“The innovation may start with startups and Web3 protocols, but for serious volume, you need institutions, fund managers, underwriters, legal advisors, and regulated platforms.”Magazine: Ethereum is destroying the competition in the $16.1T TradFi tokenization race
Published Date: 2025-05-01 12:15:40Creator: Cointelegraph by Helen Partz and Sam Bourgi
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Google subpoena scam: What it looks like and how to avoid it
What is a Google subpoena scam? The Google subpoena scam is a type of phishing attack where fraudsters impersonate Google to create a false sense of urgency and fear. Typically, you will receive an email that appears to come from no-reply@google.com, claiming to inform you of a subpoena, a formal legal request. The email will often have a subject line like “Security Alert” or “Notice of Subpoena,” making it seem urgent and legitimate. These scammers prey on your natural concern about legal matters and data privacy, hoping to trigger a reaction.Inside the email, the scammers falsely claim that Google has been served with a subpoena requiring the company to turn over your account data, such as emails, documents or search history. The email will then urge you to click on a link to view your “case materials.” This link typically leads to a fraudulent website, often hosted on Google Sites, which is designed to look like a genuine Google support page. This added layer of legitimacy can easily trick users into believing the request is real.The most concerning part of this scam is that attackers are skilled at spoofing Google’s email addresses and mimicking the company’s official content. By doing so, they can bypass common security checks, such as DomainKeys Identified Mail (DKIM), which normally verifies the authenticity of an email. With this approach, the scam appears convincingly legitimate, making it easy for unsuspecting users to act impulsively — potentially exposing sensitive data or inadvertently installing malware.Did you know? DomainKeys Identified Mail (DKIM) is an email security standard that verifies whether a message really comes from the domain it claims to be from. It uses cryptographic signatures to protect against email spoofing and phishing attacks — making your inbox just a little safer every day. How the Google subpoena scam works Software firm EasyDMARC explained that attackers exploited legitimate Google services to bypass traditional spam filters. They used “OAuth” applications combined with DKIM workarounds to create emails that could fool even careful users.A DKIM replay attack exploits the way email authentication works, specifically using DomainKeys Identified Mail, which adds a digital signature to an email to verify its authenticity.Steps of the attack:Attacker receives a legitimate Google email: The attacker intercepts a legitimate email from Google that has a valid DKIM signature, which proves it came from Google.Preparing the replay: The attacker saves this email, keeping the DKIM signature intact, and replays it. Since DKIM checks only the email headers and body (if unchanged), the attacker can forward the exact email with its signature intact without modification.Sending the spoofed email: The attacker then sends this saved email from a different account (e.g., Outlook), making it look like it’s from the original sender (Google).Relaying through other servers: The email goes through multiple servers, each adding their own DKIM signature, but the original Google DKIM signature remains untouched and valid.Final delivery: The email reaches the victim’s inbox, appearing legitimate. Despite being relayed through several servers, the email passes SPF, DKIM and DMARC checks, which makes it look like a valid Google email.The result: The victim is tricked into thinking it’s a legitimate message, potentially leading to harmful actions like clicking malicious links or providing sensitive information. This type of attack plays on the trust people place in email authentication methods and shows how attackers can exploit them.Here’s how fake Google emails and DKIM replay attacks trick you:Spoofed Google support pages: Clicking the link in the email takes you to a fake Google support page, often hosted on Google Sites, adding another layer of false credibility. The website will urge you to log in to view your “case materials.”Phishing for credentials: If you proceed, you’re asked to enter your Google username and password. Once entered, the attackers can gain full access to your account.Psychological tricks: Scammers use fear-based tactics — mentioning lawsuits, law enforcement involvement or threats of account suspension. The urgency they create is designed to make you bypass your usual caution.Did you know? Google Sites lets anyone with a Google account create websites under the trusted “sites.google.com” domain. Attackers exploit this by crafting fake login pages and phishing forms, using Google’s SSL and brand reputation to deceive users into revealing sensitive information. Key signs you’re facing a Google subpoena scam Even though the Google subpoena scam is highly sophisticated, there are still clear red flags you can look for if you know what to watch out for. By recognizing these signs, you can protect yourself from falling victim to phishing attacks:Fake or spoofed sender addresses: The first thing you should do is examine the sender’s email address carefully. Even though these scams may appear to come from a legitimate Google address, small differences in the sender’s domain or name can indicate that the email is a spoof. For instance, a Google email may have slight alterations, such as “goog1e.com” instead of “google.com,” which are often overlooked by unsuspecting users.Urgent language and threats: Scammers will often try to pressure you into acting quickly by using urgent language and threats of legal action. They may claim that your account is at risk of being suspended or that you must act immediately to avoid severe consequences. Google does not use scare tactics like this in emails.Requests for sensitive information: One of the biggest signs of a phishing attempt is a request for sensitive information, such as your Google account password, two-factor authentication (2FA) code or personal financial details. Google will never ask for this information via email.Poor grammar or formatting: While scammers have gotten better at mimicking official communication, many still make mistakes. Look for inconsistent wording, odd phrasing or formatting errors. These can often reveal a scam.Suspicious links: Before clicking any link in an email, hover over it with your mouse to preview the URL. If the link looks suspicious or unfamiliar, don’t click on it. Often, scammers use disguised URLs that lead to fake websites.Lack of proper legal process: Real subpoenas are issued through proper legal channels. They are never delivered via an email that asks for personal information or a quick action. Received a Google subpoena email? Here’s how to stay safe If you receive an email that claims to be from Google about a legal subpoena or any other suspicious notification, it’s important to remain calm and avoid reacting hastily. Phishing attacks, like the Google subpoena scam, often rely on creating a sense of urgency to trick users into making mistakes. Here’s what you should do immediately to protect your personal information and accounts:Do not click any links: Avoid interacting with the email. Don’t open attachments, click links or reply.Verify the request: Visit Google’s support site directly (not through any link in the email) and check if there are any notifications related to your account.Report the scam: In the UK, forward the suspicious email to report@phishing.gov.uk or Google’s own reporting channels, and in the US, notify the Federal Trade Commission (FTC) at reportfraud.ftc.gov or forward to spam@uce.gov.Update your security settings: Immediately change your Google account password and enable 2FA or passkeys for an extra layer of protection.Contact your bank: If you shared any financial details (e.g., credit card numbers, bank account information or payment credentials), act quickly. Call your bank or financial institution using the official number on the back of your card or its verified website. Inform them of the potential scam and any compromised information. Request to monitor your account for suspicious activity, freeze or cancel affected cards, or issue new ones if necessary. Review recent transactions for unauthorized charges and dispute any fraudulent activity promptly.Report to authorities: If you believe you have fallen victim, report the incident to Action Fraud or call 101 if you’re based in the UK. File a complaint with the FTC at www.ftc.gov/complaint or report to the Federal Bureau of Investigation’s Internet Crime Complaint Center (IC3) at www.ic3.gov if you are based in the US. How Google notifies users about legal requests When it comes to legal requests such as subpoenas, court orders or search warrants, Google takes privacy and security seriously. The company has a strict procedure in place to ensure that requests for user data are valid, lawful and processed through proper channels. Unlike the tactics employed by scammers, Google’s approach is both transparent and secure. Here’s how the real process works when it comes to legal requests for your data:Google checks the request carefully: If law enforcement (e.g., police or court) requests your data, Google thoroughly reviews the request to ensure it’s valid and lawful.Google may notify you: Unless they’re not allowed (e.g., due to a court order), Google will let you know before sharing your information. This notice won’t come in a random email asking for your password.Official notifications only: If there’s a real legal issue, you’ll see a message in your Google Account dashboard (like in the “Security” section when you log in) or through an official Google email from a verified address, not a suspicious or random one.Did you know? Government agencies worldwide request user data from Google, but each request is carefully reviewed to ensure it complies with the law. Google shares details of these requests in its Transparency Report, and how they respond depends on whether your service provider is Google LLC (US) or Google Ireland Limited (Ireland). How to avoid falling victim to Google subpoena scams To avoid falling victim to Google subpoena scams, stay calm, avoid clicking any links or attachments, and verify any legal claims directly through Google’s official support channels.Phishing scams are constantly evolving, but you can significantly reduce your risk by following some best practices, including:Stay skeptical: Always question unexpected emails, especially those involving legal action or urgent threats.Inspect carefully: Click the dropdown next to the sender’s name to see the full email address and domain.Hover before clicking: Hover your cursor over any links to preview the URL without actually clicking.Enable 2FA: Adding an extra layer of security to your Google account can stop scammers even if they steal your password.Use advanced spam filters: Tools like spam blockers, domain verification tools (like Who.is) and secure email gateways can help flag suspicious emails.Regular security audits: Periodically review your Google Account’s security settings and connected third-party apps.Stay updated: Subscribe to trusted cybersecurity newsletters or Google’s security updates to stay informed about new threats.Educate yourself and others: Sharing knowledge about scams with friends, family and coworkers can help build a collective defense.
Published Date: 2025-05-01 11:45:00Creator: Cointelegraph by SK Arora
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Morgan Stanley eyes crypto rollout for E*Trade platform: Bloomberg
Banking giant Morgan Stanley reportedly plans to list cryptocurrencies on its E*Trade investment brokerage and trading platform.According to a May 1 Bloomberg report, the firm intends to list crypto assets on E*Trade in 2026. The plan is still in early development, and the bank is said to be exploring partnerships with established crypto firms to power the service. Internal discussions about cryptocurrency support reportedly began in late 2024.E*Trade homepage. Source: E*TradeThis would not be Morgan Stanley’s first exposure to digital assets. The bank’s wealthiest clients have had access to crypto exchange-traded funds (ETFs) and futures for some time, with the firm’s advisers allowed to pitch Bitcoin ETFs since August 2024.Related: Morgan Stanley to explore crypto offerings for clients — CEORegulatory tailwinds push crypto forwardThe news follows previous reports that Morgan Stanley was considering adding cryptocurrency trading to its E*Trade online brokerage platform in early January. The reports at the time cited the expectations of a friendlier crypto regulatory environment.The move comes amid an increasingly favorable regulatory environment in the United States following the election of President Donald Trump, who campaigned on a pro-crypto platform and is personally involved in several blockchain ventures. Morgan Stanley did not respond to Cointelegraph’s inquiry by publication.Related: Morgan Stanley discloses $188M in BlackRock Bitcoin ETF holdingsThe first 30 days of the Trump administration brought significant changes to the local crypto industry. More recently, US crypto proponents have shown optimism following the swearing-in of pro-crypto Securities and Exchange Commission Chair Paul Atkins.The SEC had significantly changed its stance even before Atkins took office. In late February, the agency had already paused multiple cryptocurrency enforcement cases with imminent deadlines.Trump’s own involvement with the crypto industry, paired with his pro-crypto stance, has raised concerns over potential conflicts of interest. Massachusetts Senator Elizabeth Warren recently called on government officials to address questions related to Trump’s memecoin and his media company.Senator Jon Ossoff recently expressed support for impeaching Trump over his meeting of the top holders of his Trump Official (TRUMP) memecoin. He said that “he is granting audiences to people who buy his memecoin,” adding:“When the sitting president of the United States is selling access for what are effectively payments directly to him. There is no question that that rises to the level of an impeachable offense.”Magazine: ZK-proofs are bringing smart contracts to Bitcoin — BitcoinOS and Starknet
Published Date: 2025-05-01 11:09:24Creator: Cointelegraph by Adrian Zmudzinski
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Bitcoin price about to ‘blast’ higher as Fed rate cut odds jump to 60%
Key takeaways:Bitcoin holds $95,000 as Fed rate cut odds rise to 60% for June 18 and the US economy slumps.Breaking $95,000 could push BTC’s price toward $100,000, while dropping below $93,000 may bring the $84,000 back into the picture.Key Bitcoin levels to watch remain around the long-term holders’ cost basis. Bitcoin (BTC) is once again attempting to break above $95,000 on May 1 as markets price in the possibility of the US Federal Reserve cutting rates sooner than expected.BTC/USD daily chart. Source: Cointelegraph/TradingViewFed rate cut will drive BTC’s price higherData from Cointelegraph Markets Pro and TradingView showed Bitcoin edging higher hours after dipping below $93,000 following US GDP data that reflected a shrinking economy. A contracting economy will likely prompt the Fed to lower rates to stimulate activity sooner rather than later. This reduces yields on traditional assets like bonds, pushing investors toward Bitcoin and risk-on assets.The odds of a Fed interest rate cut at the June 18 Federal Open Market Committee meeting have increased over the last week, from 57% on April 30 to 60% on May 1. Fed target rate probabilities for the June 18 Fed meeting. Source: CME FedWatchRate cut expectations have historically been a bullish catalyst for risk-on assets and Bitcoin. For example, Bitcoin rallied more than 20% ahead of the last Fed rate cut on Dec. 18, 2024.“Bitcoin surges back toward $95K, rebounding from bearish US GDP data,” said pseudonymous Bitcoin analyst BTCmoonmath in a May 1 post on X, adding:“Traders anticipate a Federal Reserve’s easing and rate cuts in the future, despite a shrinking economy and low consumer confidence.” Focus now shifts to how the May 2 jobs report, which reveals how many jobs were added to the US economy in April, will impact the crypto market and, in turn, Bitcoin’s price.Related: Bitcoin ‘aging’ chart projects sixfold BTC price rally above $350KWhat’s next for Bitcoin’s price?Currently, $95,000 is the key level traders are watching, and many analysts believe that a sustained push through the resistance zone above this area opens the door for a swift move higher.“The price has recently surged above both key technical levels and is now attempting to consolidate within this zone,” Glassnode said in its latest “Week Onchain” report.The market intelligence firm referred to the 111-day simple moving average (SMA) at $91,300 and the short-term holder (STH) cost basis at $93,200. Bitcoin reclaimed these levels in the recent upward swing, highlighting the degree of strength behind the move.“These are levels that must be broken and held for further price appreciation, as a rejection of this level would push the price back into bearish territory, and return many investors to a state of meaningful unrealized loss.”BTC/USD chart showing STH cost basis and 111-day SMA. Source: Glassnode“Bitcoin is ready to blast through $96,000,” popular analyst AlphaBTC said in his latest analysis on X. According to the analyst, a decisive break above $95,000 could see BTC move out of consolidation, with the next logical move being toward the $100,000 psychological level.“This is what I would like to see if Bitcoin can follow through today. A nice big squeeze into the low 100Ks.”BTC/USD four-hour chart. Source: AlphaBTCConversely, the analyst said that a drop below April 30 lows at $93,000 could see BTC/USD sink deeper toward the $84,000 and $88,000 range as shown in the chart above.Fellow crypto analyst Daan Crypto Trades added that if price consolidates without rejection and keeps grinding upward, then that should position BTC for a move higher toward the $100,000 region, he explained to his followers on X. BTC/USD hourly chart. Source: Daan Crypto TradesThis 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.
Published Date: 2025-05-01 10:51:46Creator: Cointelegraph by Nancy Lubale
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MultiBank, MAG, Mavryk ink world’s largest $3B RWA tokenization deal
MultiBank Group, the world’s largest financial derivatives institution based in Dubai, has signed a landmark $3 billion real-world asset (RWA) tokenization agreement with United Arab Emirates (UAE)-based real estate giant MAG and blockchain infrastructure provider Mavryk.The deal represents the largest RWA tokenization initiative globally to date and highlights the upcoming launch of MultiBank’s native utility token, MBG, according to a press release shared with Cointelegraph.The partnership will bring MAG’s ultra-luxury real estate projects — including The Ritz-Carlton Residences, Dubai, Creekside and the Keturah Reserve — onto the blockchain via MultiBank.io’s regulated RWA marketplace.Once tokenized, these assets will be available to global investors and will generate daily yield for holders directly on the platform.“$3B worth of MAG’s real estate will be tokenized as individual RWA tokens on MultiBank’s platform, each represented on the Mavryk blockchain, as the underlying layer-1 infrastructure,” Talal Moafaq Al Gaddah, senior executive vice chairman of MAG, told Cointelegraph.Al Gaddah added that “$MBG token provides ecosystem utility, including trading discounts, early access to properties, and a deflationary buyback-and-burn model.”Related: BlackRock, five others account for 88% of all tokenized treasury issuanceMultiBank tokenizes MAG real estateMAG, one of the UAE’s most prominent developers, will contribute its premium real estate portfolio for tokenization.Mavryk will handle blockchain issuance and DeFi integrations, while MultiBank Group will manage regulatory compliance, liquidity and governance, with the MBG token at the core of the system.“Tokenized assets issued by MultiBank will have dual utility. Within the MultiBank Group, they can be used as collateral for derivatives, creating a seamless bridge between traditional finance and tokenized assets,” Al Gaddah said.He said that these tokens are fully interoperable with the broader Mavryk DeFi ecosystem.The tokenized treasuries market is rising. Source: RWA.xyzMBG token adds platform utilityThe MBG token will power staking, fee payments, VIP tiers and user rewards. It also features a buyback-and-burn mechanism tied to platform revenues, creating long-term value for both institutional and retail participants.The platform aims to scale beyond the initial $3 billion to as much as $10 billion in tokenized assets.“The goal is to tokenize high-value, income-generating real estate assets that have traditionally been difficult to access or trade.” The announcement comes amid renewed interest in RWA tokenization.On April 30, BlackRock filed to create digital ledger technology shares from one of the firm’s money market funds, which will leverage blockchain technology to maintain a mirror record of share ownership for investors.The DLT shares will track BlackRock’s BLF Treasury Trust Fund (TTTXX), which may only be purchased from BlackRock Advisors and The Bank of New York Mellon (BNY).The money market fund holds over $150 million worth of assets, invested almost entirely in US Treasury bills and cash.Magazine: TV hit Peaky Blinders to launch crypto game, FIFA Rivals on Polkadot: Web3 Gamer
Published Date: 2025-05-01 10:21:05Creator: Cointelegraph by Amin Haqshanas
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Eric Trump: USD1 will be used for $2B MGX investment in Binance
Abu Dhabi-based investment firm MGX will use a stablecoin linked to US President Donald Trump’s family to settle a $2 billion investment in Binance, the world’s largest cryptocurrency exchange.The World Liberty Financial USD (USD1) US dollar-pegged stablecoin was launched by the Trump-associated crypto platform World Liberty Financial (WLFI) in March 2025.MGX will use the USD1 stablecoin for its $2 billion investment in the Binance exchange, according to an announcement by Eric Trump during a panel discussion at Token2049 in Dubai. Trump, the son of the president, serves as executive vice president of the Trump Organization.Source: CointelegraphMGX announced its investment in Binance on March 12, marking the first institutional investment in the exchange and one of the biggest funding deals in the entire Web3 industry.At the time, Binance declined Cointelegraph’s request to disclose what stablecoin was used in the transaction. This marks the Abu Dhabi-based investment firm’s first venture into the cryptocurrency space.Related: Trump turned crypto from ‘oppressed industry’ to ‘centerpiece’ of US strategyBanks, financial system is “a joke,” says Eric TrumpDuring the panel discussion, Eric Trump criticized the inefficiencies and limited operating hours of the traditional financial system:“The US is seeing that the financial world has to progress. It’s a joke. Why do banks run nine to five, Monday to Friday, with an hour and a half of lunch break? It doesn’t make sense.”Sending money internationally through SWIFT is slow, costly, and complex. Crypto makes banks redundant,” he added.Related: Stablecoins, tokenized assets gain as Trump tariffs loomThe average transaction time on the SWIFT payment network is 20 hours and seven minutes, according to analysis published by Statrys. However, 75% of SWIFT transactions involve one or two intermediary banks, meaning that these average 1 day and 11 hours to settle.In contrast, a USDt (USDT) or USDC (USDC) stablecoin transaction on Ethereum will settle within two to five minutes.“We’re at the dialogue phase of the crypto revolution right now, and the people who are going to make it big are the people who see it today, not in five years,” Eric Trump added.Magazine: SEC’s U-turn on crypto leaves key questions unanswered
Published Date: 2025-05-01 10:02:33Creator: Cointelegraph by Zoltan Vardai
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Crypto token failures soar, with 1 in 4 launched since 2021 dying in Q1: CoinGecko
About one in four crypto tokens launched since 2021 have failed in the first quarter of this year amid a crypto market downturn and token creation becoming easier than ever, says crypto data platform CoinGecko.Since 2021, nearly 7 million cryptocurrencies have been listed on CoinGecko’s token tracking tool GeckoTerminal, and over half, or 3.7 million tokens, “have since stopped trading and are considered failed,” CoinGecko research analyst Shaun Paul Lee said in an April 30 report.“Alarmingly, the first quarter of 2025 alone saw the collapse of 1.8 million tokens,” he added, which is “the highest number of failures recorded in a single year.” It also comprises just under half of all failures and represents a quarter of all tokens launched since 2021.CoinGecko recorded tokens with at least one trade before going defunct and only Pump.fun tokens that graduated, or completed the token creation platform’s bonding curve.There are more crypto tokens than ever, but many are failing to survive in the long term. Source: CoinGeckoLee linked the recent token die-off to “broader market turbulence” after Donald Trump’s inauguration in January, which saw Bitcoin (BTC) hit a peak high but was followed by a sharp downturn in the crypto market.More crypto tokens used to survive Last year saw the second-highest number of token failures at 1.3 million, and in comparison, Lee said that the three previous years had a much lower attrition rate.Lee attributed the ballooning number of tokens and their failures to the token creation tool Pump.fun, “which simplified the process of creating tokens, leading to a flood of memecoins and low-effort projects entering the market.”Pump.fun went online in January 2024. CoinGecko’s report shows that last year had the largest number of new crypto tokens with over 3 million launched, compared to 2023, which saw just over 835,000.“Before the launch of Pump.fun in 2024, cryptocurrency failures numbered in the low six digits. Project failures between 2021 and 2023 made up just 12.6% of all cryptocurrency failures over the past five years,” Lee said.Prior to 2024, crypto token failure rates were relatively low. Source: CoinGecko Pump.fun’s graduation rate, where token trading moves off the site, has never been particularly high, with roughly 98% of tokens failing. The platform’s best-performing week so far was in November 2024, when 1.67% of memecoins moved on to the open market.Related: AI tokens, memecoins dominate crypto narratives in Q1 2025: CoinGeckoCoinGecko founder Bobby Ong said in a March 6 report that memecoin investor interest appears to have cooled after a series of bad launches, noting the fallout from the Libra (LIBRA) token launch.Pump.fun had a weekly trading volume high after the launch of Trump’s memecoin on Jan. 18, but both crypto and stock markets were hit with extreme volatility starting in March following Trump’s threats of sweeping tariffs.Magazine: Memecoins are ded — But Solana ‘100x better’ despite revenue plunge
Published Date: 2025-05-01 02:27:11Creator: Cointelegraph by Stephen Katte
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XRP traders predict new all-time highs as ETF approval odds rise to 85%
Key takeaways:XRP ETF approval odds rise to 85% following a SEC leadership change.Analysts predict XRP could rise to new all-time highs again in 2025.XRP price dropped by 5% over the past 24 hours as US GDP data showed a shrinking economy. However, a strengthening market structure and investors’ growing hope for a spot XRP ETF approval in the United States suggest that the altcoin might revisit its April peak at $2.36 in the short term. XRP/USD daily chart. Source: Cointelegraph/TradingViewTechnical charts currently show XRP (XRP) trading within a falling wedge pattern. A "falling wedge" is a bullish reversal chart pattern that comprises two converging trend lines that connect lower lows and lower highs. This convergence indicates weakening downward momentum. The pattern will resolve when the price breaks above the upper trendline at $2.40, and if this happens, buyers could target $3.74 next, representing a 71% increase from the current price.XRP/USD daily chart. Source: Cointelegraph/TradingViewThe relative strength index (RSI) is above the midline, indicating that the market conditions still favor the upside.However, to sustain the ongoing recovery, XRP price has to first hold the support at $2.20 and then overcome the resistance between $2.80 and $3.00.Several analysts remain optimistic about the altcoin’s ability to rebound to all-time highs, with popular trader Dark Defender saying that the ongoing correction is part of an Elliott Wave pattern that will eventually see “XRP continue its climb to the top.”Fellow trader Allincrypto believes XRP is “heading to $19.27” based on a breakout from a falling wedge pattern.“Where we are pulling back is textbook perfect, and we had highlighted a falling wedge that was present on XRP that ultimately was just going for a continuation to $19.27.”Related: What are XRP futures and how to invest in them?Approval odds for an XRP ETF approval in 2025 riseBloomberg senior ETF analysts said that the five spot XRP ETFs, including Grayscale, 21Shares, WisdomTree, Bitwise, Canary, and Franklin Templeton, have an 85% chance of approval after the change in leadership at the US Securities and Exchange Commission (SEC).This is a significant improvement from their prediction over two months ago that set the chances of an XRP approval in 2025 at 65%.Source: Eric BalchunasSimilarly, the betting odds for an XRP ETF approval by Dec. 31 now stand at 80% on Polymarket. Over the past week, the probability of approval has swung 17% in favor of the bullish masses, which was around 63% on April 23.XRP ETF approval odds on Polymarket. Source: PolymarketMeanwhile, on April 29, the SEC postponed its decision on Franklin Templeton’s spot XRP ETF, setting a new review deadline on June 17.The approval of these ETFs could unlock institutional capital, amplifying demand for the XRP. While approval timelines remain unclear, they would mark a step toward mainstream adoption for XRP.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.
Published Date: 2025-05-01 01:00:00Creator: Cointelegraph by Nancy Lubale
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Robinhood beats Q1 estimates despite revenue, crypto trading dip
Trading platform Robinhood has still managed to beat Wall Street estimates as its first-quarter revenues fell and its crypto trading volume cooled from a record high in Q4.Robinhood’s Q1 results shared on April 30 show revenues fell 8.6% from the previous quarter to $927 million, topping Zacks analyst estimates by 3.16%.The company’s crypto revenue plummeted nearly 30% quarter-on-quarter to $252 million from the firm’s record-setting Q4 2024. The drop could be partly attributed to the Trump administration’s tariffs, which triggered an 18% fall in the crypto market cap over the quarter.Crypto trading volume on Robinhood also fell 35% over Q1 compared to the fourth quarter of 2024, which the firm attributed to a 10% drop in customer trades placed and a 27% fall in average notional volume per trade.Robinhood CEO Vladimir Tenev said on an earnings call that crypto trading volumes would continue to fluctuate but the firm is more focused on capturing as much market share as possible.Despite the fall from last quarter, Robinhood’s crypto revenue rose 100% from the same quarter a year ago, while trading volumes jumped 28% over the same period.Robinhood’s quarterly revenues by segment since Q1 2023. Source: RobinhoodThe firm also added $500 million to its now $1.5 billion buyback authorization program, aimed at boosting shareholder value and confidence in the firm’s financial health. The company has bought back $667 million worth of shares so far.Shares in Robinhood (HOOD) rose 1.51% in after-hours trading on April 30 to $49.85 since the firm disclosed its Q1 results, Google Finance data shows. Tenev said Robinhood’s $200 million acquisition of Bitstamp crypto exchange is still looking likely to receive regulatory approval in the middle of 2025, which would enable it to serve institutional investors in the US.Regulatory pressure also eased for Robinhood in Q1 after the Securities and Exchange Commission closed its investigation into the firm’s crypto business on Feb. 21.Crypto tokenization remains a key focus for RobinhoodTenev said Robinhood is still exploring integrating crypto tokenization into the company’s services.Tokenizing private equities is a “huge unlock” for both individuals and companies that can solve a lot of problems in secondary market transactions, he said.Related: Ripple $4B-$5B bid to purchase Circle rejected — Report“I think that will unlock a ton of economic value for the crypto industry in the US,” Tenev said. The Robinhood CEO previously said crypto tokenization could let investors buy tokenized shares in big-name private firms like OpenAI and SpaceX within minutes.“That's been kind of our primary policy objective in Washington when it comes to crypto,” Tenev said.Magazine: ZK-proofs unlock trillions in Bitcoin for DeFi — BitcoinOS and Starknet
Published Date: 2025-05-01 00:32:18Creator: Cointelegraph by Brayden Lindrea
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