Mantra’s OM token collapsed by more than 90% overnight, and the crypto world can’t agree on why. On April 13, OM’s price plummeted from over $6 to below $0.50, wiping out more than $5 billion in market cap and triggering widespread panic across the crypto industry.The sudden crash drew comparisons to Terra’s LUNA implosion as traders scrambled for answers. Unverified rumors of insider dumping, forced liquidations, mislabeled wallets and exchange manipulation quickly spread — but Mantra insists it was caught in the middle.Mantra had built a strong position in the real-world asset tokenization narrative heading into April 13, backed by a $1-billion deal to tokenize Dubai-based Damac Group’s real estate and data centers. It secured a Virtual Assets Regulatory Authority (VARA) license in Dubai and launched a $108-million ecosystem fund with support from heavyweights such as Laser Digital, Shorooq, Amber Group and Brevan Howard Digital. In February 2025, the OM token hit an all-time high of nearly $9.But on April 13, that momentum was violently interrupted. The hours that followed painted a messy picture of token transfers, insider speculation and shifting blame. Here’s a detailed look at how the OM collapse played out.24 hours of the Mantra OM fiascoApril 13 (16:00–18:00 UTC)Mantra’s OM token was trading sideways throughout the day. It dropped from $6.14 to $5.52 during this two-hour window.April 13 (18:00–20:00 UTC)The token suddenly fell to $1.38 in the first hour, then to as low as $0.52 in the next — losing over 90% of its value in a single day. Social media erupted with theories, including a rug pull, insider dumping, forced liquidation or exchange manipulation.Mantra’s OM loses over 90% of its value in just a few hours. Source: CoinGeckoApril 13 (20:00–22:00 UTC)Early speculation surrounded a rug pull, sparked by a screenshot of a deleted Telegram channel. This was later debunked, as the deleted group was not Matra’s official channel. Cointelegraph has confirmed that the project’s Telegram is active at the time of writing.Mantra shared its first statement on X, but the brief update was met with immediate backlash from the community.Mantra says OM’s crash was due to “reckless liquidations.” Source: Mantra/ExyApril 13 (22:00–00:00 UTC)Mantra co-founder and CEO John Patrick Mullin posted a more detailed statement on X, claiming OM’s market action was triggered by “reckless forced closures initiated by centralized exchanges on OM account holders.”“The timing and depth of the crash suggest that a very sudden closure of account positions was initiated without sufficient warning or notice,” Mullin said.“That this happened during low-liquidity hours on a Sunday evening UTC (early morning Asia time) points to a degree of negligence at best, or possibly intentional market positioning taken by centralized exchanges.”Related: Atkins becomes next SEC chair: What’s next for the crypto industryApril 14 (00:00–02:00 UTC)In the days leading up to the crash, at least 17 wallets had deposited a total of 43.6 million OM (worth $227 million) into Binance and OKX, according to blockchain tracker Lookonchain.Two of these wallets were labeled as belonging to Laser Digital, a strategic Mantra investor, by blockchain data platform Arkham Intelligence. The label triggered further speculation and allegations against Laser Digital. At the time of writing, the accuracy of Arkham’s labels has not been confirmed, and the platform has not responded to Cointelegraph’s request to clarify.Laser Digital is still tagged on Arkham’s platform. Source: Arkham IntelligenceMeanwhile, Mullin replied to community questions under his X post, suggesting internal findings pointed to one exchange as the main cause of the collapse while stating that it was not Binance.April 14 (02:00–05:00 UTC)Both Binance and OKX responded to the situation. Binance said, “Binance is aware that $OM, the native token of MANTRA, has experienced significant price volatility. Our initial findings indicate that the developments over the past day are a result of cross-exchange liquidations.”OKX CEO Star Xu posted on X, “It’s a big scandal to the whole crypto industry. All of the onchain unlock and deposit data is public, all major exchanges’ collateral and liquidation data can be investigated. OKX will make all of the reports ready!”OKX stated, “Following the incident, we have conducted investigations and identified major changes to the MANTRA token’s tokenomics model since Oct 2024, based on both publicly available on-chain data and internal exchange data.“Our investigation also uncovered that several on-chain addresses have been executing potentially coordinated large-scale deposits and withdrawals across various centralized exchanges since Mar 2025.”April 14 (05:00–12:00 UTC)Laser Digital denied ownership of the wallets tagged by Arkham and reported by Lookonchain, calling them mislabeled.“We want to be absolutely clear: Laser has not deposited any OM tokens to OKX. The wallets being referenced are not Laser wallets,” the company said on X, sharing three token addresses to support its claim that no sales had occurred.Lookonchain also identified another wallet using Arkham data that had remained dormant for a year before becoming active just hours before the crash. The wallet was labeled as belonging to Shane Shin, a founding partner of Shorooq Partners, and received 2 million OM shortly before the collapse.Source: Lookonchain/Shae ShinApril 14 (12:00–13:00 UTC)Mullin joined Cointelegraph’s Chain Reaction show and denied reports that key Mantra investors dumped OM before the collapse. He dismissed allegations that the team controlled 90% of the supply.“I think it’s baseless. We posted a community transparency report last week, and it shows all the different wallets,” Mullin said, noting the dual-token setup across Ethereum and the Mantra mainnet. Additionally, he reassured users that OM token recovery is the team’s primary concern. “We’re still in the early stages of putting together this plan for a potential buyback of tokens,” he said. Related: The whale, the hack and the psychological earthquake that hit HEXApril 14 (13:00–16:00 UTC)More theories started emerging. Onchain Bureau claimed market makers at FalconX were responsible for the price crash. They blamed it on the loan option model — a service allowing market makers to borrow tokens and execute guaranteed purchases at contract expiry.“Instead of paying the market maker with a monthly retainer fee, they had a contract signed saying that they would be able to enforce a buy of, for example, 1M tokens at $1 by contract expiry. Clearly, when the contract expired, they enforced the contract and made their bags,” Onchain Bureau said in a now-deleted X post.Shortly afterward, Onchain Bureau followed up, saying FalconX had reached out and denied being Mantra’s market maker. Mullin also responded to the post, stating that FalconX was not the project’s market maker. He described them instead as a trading partner.Meanwhile, crypto detective ZachXBT weighed in, claiming that individuals linked to Reef Finance had allegedly been seeking massive OM-backed loans in the days leading up to the crash.Source: ZachXBTWhat we know of the OM crashSeveral theories have been thrown around. Initial fears ranged from a rug pull to insider trading, which Mantra has denied in several instances by sharing wallet addresses. The team has responded to online comments and media inquiries to assure that they haven’t run away.Mantra has also denied that the price collapse was a result of an expiring deal with market maker FalconX. Some fingers were pointed toward Laser Digital, which said it is a result of mislabeling at Arkham Intelligence. Arkham Intelligence has not responded to Cointelegraph’s request to clarify its labels. However, the Laser Digital tags on Arkham are a low-confidence prediction made by an AI model, not a verified entity with a blue checkmark.Magenta-colored labels on Arkham Intelligence are low-confidence AI predictions, not verified wallets. Source: Arkham IntelligenceIn the days following the OM crash, Mullin stated that he would burn all of his team’s tokens. He later said that he would start by putting his own allocation on the line.Mullin announced that Mantra would publish a post-mortem and followed with a “statement of events” on April 16. The team reiterated that no project-led token sales occurred and that all team allocations remain locked. The statement doubled down on Mantra’s plan to introduce a token buyback and burn program but lacked new information on the cause of the crash.Mullin told Cointelegraph that Mantra has tapped an unnamed blockchain analyst to investigate the underlying cause of the crash, though details remain confidential at this time.Magazine: Memecoin degeneracy is funding groundbreaking anti-aging research
OpenAI’s new “o3” language model achieved an IQ score of 136 on a public Mensa Norway intelligence test, exceeding the threshold for entry into the country’s Mensa chapter for the first time. The score, calculated from a seven-run rolling average, places the model above approximately 98 percent of the human population, according to a standardized […]
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Recent happenings with whales have caused turbulence in the XRP market. A transaction of 131 million XRP tokens, which is around $273 million worth, has sent jitters among investors. This occurrence comes during the tough battle of XRP in attempting to cut through the resistance at $2.16. Related Reading: Solana Hits Milestone As Canada OKs First Spot ETFs Large Wallet Transfers Raise Questions About Market Stability As per blockchain monitoring by Whale Alert, an unknown owner moved 131 million XRP between wallets in a single transaction. The activity prompted conversations on trading platforms as investors attempted to decipher the move. The wallet addresses used haven’t been traced to any known exchanges or parties, further fueling uncertainty. This was not a one-off action, though. Only 12 hours ago, another big holder transferred XRP valued at $63 million. These consecutive moves by major token holders indicate that a trend may be emerging. Some observers think these may be over-the-counter transactions, while others are concerned about potential selling pressure to materialize. ???? ???? ???? ???? ???? ???? ???? ???? ???? ???? 131,000,000 #XRP (273,945,648 USD) transferred from unknown wallet to unknown wallethttps://t.co/CnMiTrxABL — Whale Alert (@whale_alert) April 15, 2025 Price Continues To Fail To Break $2.17 Resistance XRP has been unable to break the $2.17 barrier in recent times despite several attempts. These rejections have undermined bullish momentum and driven the price lower. According to reports, XRP traded at approximately $2.06 within the last 24 hours, and down by 4%. The digital asset had registered a positive growth in the last week with a gain of 14%. Yet this upward movement wasn’t sustained even after the noise surrounding whale movement. The unplanned realignment of tokens is causing traders immediately across the marketplace to respond adversely. Market analyst CasiTrades indicated that XRP might drop towards the support levels lower than $1.90 in case the downtrend persists. The analyst even indicated a likely drop to $1.55 if the volume of selling gains momentum higher than the present volumes. Such prices may present chances for buying once market interest re-emerges. JUST IN: SWIFT nearing agreement with Ripple to use #XRP for cross-border payments, with billions of $XRP secured in escrow as liquidity reserves. IF THIS IS TRUE WE ARE GOING TO $10,000+ pic.twitter.com/Tl4Y3FP6g6 — THE RIPPLE WHALES (@RIPPLE_WHALES) April 15, 2025 Long-Term Outlook Still Remains Promising There are still some analysts who think XRP has a bright future, although it’s been weak recently. Investors get excited sometimes due to rumors of an XRP ETF and a potential agreement with payment system, SWIFT. But nothing significant has happened in the market from those expectations so far. Related Reading: Crypto Holders Beware! New Malware Drains ETH, SOL, XRP Wallets Currently, market participants are split. Large institutional trades and price pullbacks at key levels are resulting in conflicting views. The $1.90 to $1.55 support zone is critical. XRP must remain above this zone for the price to have any possibility of increasing soon. The market is still following XRP closely in anticipation of concrete news. Whale movements and the chronic resistance at $2.16 are decisive factors in the direction of the market in the next few days. Featured image from Pexels, chart from TradingView
Beyond just stacking bitcoin and waiting for price appreciation, BTC-on-BTC yield provides opportunities to grow bitcoin holdings.
Shytoshi Kusama, the leader of Shiba Inu, has been quiet for nearly three weeks. But now, he’s back with a short, mysterious message, “Next week let’s go back to it, can we?” This has made the SHIB community excited, thinking something big might be coming, maybe even a rise in SHIB’s price. But not everything …
The VanEck Onchain Economy ETF (NODE) is expected to start trading on May 14th with a management fee of 0.69%.
Russia is all set to host the Global Blockchain Forum 2025 on April 23 & 24. With 15K+ attendees from over 100 countries, the forum will focus on topics like Web3, cryptocurrencies, investments, blockchain, trading, mining, and AI. Around 55% of the attendees are from Europe, and 29% are from Asia. North America is expected to have a healthy 11% participation as well. Russia, China, and Belarus, though, will see the highest participation. Russia, in particular, is keen on strengthening its position in the global cryptocurrency community. Keep reading to find out how this event may affect the regulatory framework around crypto investments worldwide. We’ll also suggest the top new crypto to buy now to benefit from this development. More About the Event The forum will serve as a hub for networking and a platform to exchange ideas and get actionable insights into the latest crypto trends. It’ll also feature more than 150 booths where innovation-driven companies will showcase their products and ideas. There will also lie the opportunity to meet pioneers at the forefront of technological progress in the crypto and Web3 space. Some prominent speakers on the forum include: Staphan Lutx (BitMEX) Justin Sun (TRON) Xinxi Wang (Litecoin) Tracy Jin (MEXC) Besides this, there are 100+ speakers who will share their experience and future outlook on crypto. A few interesting topics include the future of crypto payments, Bitcoin’s journey ahead, broad crypto market trends in 2025-2030, crypto geopolitics, and the regulation of stablecoins. At a time when crypto markets have been bearish, a mega event like this may just be what’s needed. It underpins the future global positive outlook and shows the confidence of market participants in crypto innovations. If you also want to benefit from the crypto’s long-term bullish outlook, here are some of the best cryptos you can invest in now for massive growth. 1. BTC Bull Token ($BTCBULL) – Best New Crypto to Buy Right Now It’s worth noting that Bitcoin is right at the heart of the wider crypto push we’re seeing right now. And why wouldn’t it be? It’s the biggest crypto (by both price and market capitalization), after all. That’s why BTC Bull Token ($BTCBULL), a Bitcoin-themed meme coin, is unabashedly one of the best cryptos to buy now. $BTCBULL isn’t just married to Bitcoin on paper, though. Instead, its roadmap is closely linked to Bitcoin’s growth. For instance, BTC Bull Token’s standout feature – free $BTC airdrops – will take place every time the OG crypto crosses a major milestone, like $150K and $200K, for the first time. Additionally, even $BTCBULL’s token burn events are set to occur at every $25K jump in $BTC’s price. Combined with a heavy focus on PR and marketing activities, BTC Bull Token’s deflationary model will ensure the crypto’s hype remains alive, even and especially after its listing. So, if you’re a Bitcoin maximalist who wants to nail the hammer on its head and grab the next crypto bull run by its horns, buy $BTCBULL now while it’s still in presale. The project has raised over $4.7M, and each token is currently available for just $0.002465. For more info, here’s how to buy $BTCBULL. 2. Solaxy ($SOLX) – Top New Crypto Presale with over $30M Raised So Far What if you could invest in a potentially revolutionary crypto project while it’s still in its infancy? Breathtaking gains! That’s exactly what Solaxy ($SOLX) brings to the table. Solaxy isn’t just another altcoin on the Solana blockchain. It has set out with a very special purpose: to solve Solana’s scalability issues. Long story short, Solana got overloaded because of the amount of investors $TRUMP and $MELANIA funneled into the network. Solaxy, however, plans to build the first-ever Layer-2 solution on Solana. It will handle a huge chunk of Solana’s transactions by offloading them onto a sidechain. Furthermore, $SOLX’s multi-chain versatility means it will be able to provide the perfect blend of Ethereum’s liquidity and Solana’s high speed and low fees. Another reason we’re pretty hyped about Solaxy’s future is the amount of investor interest in the project. It has so far raised over $30.4M and shows no signs of slowing down. You can join the next crypto to explode for only $0.001696 per token. Here’s how to buy Solaxy. 3. FirstBroccoli ($BROCCOLI) – Trending New Meme Coin with over 1,600% in Lifetime Gains Reading the pulse of the crypto market and hopping on raging trends is one of the best ways to go about investing in crypto. We’re talking about catching trending cryptos like FirstBroccoli ($BROCCOLI). Although this crypto has already generated over 1,600% returns, it’s currently breaking out of a long-drawn consolidation zone. Another reason $BROCCOLI could skyrocket further is that it recently burned over 5% of its total token supply. Its current price of $0.03688 could, therefore, serve as a great entry point. FirstBroccoli’s backstory is also quite interesting. It came into existence after the ex-CEO of Binance, Changpeng ‘CZ’ Zhao, openly announced his approval of meme coins. Next, he threw in the idea of launching a meme coin based on his pet dog, Broccoli. The rest, as they say, is history. Bottom Line Although there’s a high likelihood that a meeting between the world’s biggest crypto advocates would bear sweet fruits for the entire market, it’s ill-advised to speculate too much. Especially in crypto, where winds change directions faster than a snake. As always, we recommend a cautious approach, which includes only investing a small amount and doing your own research. Also, this article isn’t a substitute for financial advice from a professional.
While there are still two weeks until the end of April, Bitcoin miners managed to net stack approximately 759 BTC, the first positive month since January. Daily net flow dropped from a +1,175 BTC inflow on Apr. 6 to a -1,627 BTC outflow on Apr. 7, mirroring Bitcoin’s rapid dip. This volatility in miner flows […]
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Trump's threats against Powell highlight tensions between political agendas and central bank independence, potentially impacting economic stability.
The post Trump threatens to fire Powell after Fed chief says he is not removable except for cause appeared first on Crypto Briefing.
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
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.
Auto.fun democratizes AI and web3 tech, potentially transforming digital economies by enabling broader participation and innovation in DeFi.
The post Eliza Labs launches auto.fun to help creators build and monetize AI agents without touching code appeared first on Crypto Briefing.
In January, Coinbase vowed to improve its Solana transaction processing infrastructure after users experienced withdrawal and depositing issues.
The following article is adapted from The Block’s newsletter, The Daily, which comes out on weekday afternoons.
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
Brazil has been quietly laying the groundwork to become a dominant player in the future of finance. With a new strategic partnership between fintech innovator LIQI and blockchain infrastructure provider XDC Network, the country is poised to take a leadership role in tokenizing real-world assets (RWAs). This isn’t a speculative move. LIQI and XDC plan …
Bitcoin may be trapped beneath the gravitational pull of forced deleveraging, but macro strategist and Forward Guidance host Felix Jauvin insists that the clearing of risk books is no more than “the prelude to an incredible trade once the degrossing is over.” In a thread on X, Jauvin stitches together fiscal arithmetic, global liquidity metrics and the geopolitics of trade to argue that the next great impulse for BTC will arrive when capital flows that have underpinned US asset dominance reverse and re‑seed risk appetite abroad. Bitcoin Amid The Trump Chaos Jauvin begins by borrowing the empirical backbone of Michael Howell’s work. “Bitcoin is primarily driven by global liquidity,” he writes, citing Howell’s Granger‑causality tests that give liquidity an eleven‑week statistical lead on spot prices. Equity‑style beta “is a spurious correlation,” Jauvin argues, because US equities have merely been the channel through which global dollar liquidity has expressed itself since pandemic‑era deficits swelled Treasury issuance and household incomes at once. Putting numbers to the claim, he notes that the United States has “run a substantially higher fiscal deficit as % of GDP than any other country,” a gap that “mechanically leads to higher inflation, higher nominal GDP, and therefore higher top‑line revenue for corporations.” By extension, the S&P 500—and increasingly Bitcoin—have monopolised incremental risk capital. “Because of this dynamic, US equity markets have been the dominant marginal driver of risky asset growth, wealth effect, global liquidity, and therefore a vacuum for global capital to go where it’s treated best: the USA.” Related Reading: Bitcoin At $1 Million? BPI Says One US Move Could Make It Happen Jauvin’s inflection point is the Trump campaign’s declared ambition to compress the trade deficit and prod allies into heavier fiscal outlays for defence and infrastructure. “The Trump administration wants to lower trade deficits with other countries, which mechanically implies a decrease of US dollars flowing to foreign countries that will not be reinvested into US assets,” he writes. A paired objective is “a weaker dollar and stronger foreign currencies,” achieved as foreign central banks lift rates and investors repatriate funds to harvest that carry. He sees the genie already inching out of the bottle: “Trump’s shoot‑first, ask‑questions‑after approach to trade negotiations is leading the rest of the world to unshackle themselves from their meagre fiscal deficits … I believe nations will continue with this pursuit regardless.” If foreign governments embark on deficit‑financed rearmament and industrial policy, the marginal growth in global liquidity would migrate out of Washington and into Europe and Asia. “As the US continues to pivot from a global capital partner to a more protectionist one, holders of US‑dollar assets will begin to have to increase the risk premium associated with these previously pristine assets and have to mark them with a wider margin of safety.” Why Bitcoin, And Why After The Sell‑Off Jauvin frames the present turmoil as the necessary purgation of crowded positions: “The first trade is to sell US‑dollar assets that the entire world is overweight and avoid the degrossing that is ongoing.” Margin exhaustion forces funds to raise cash indiscriminately, pinning Bitcoin to tech beta for now. But, he insists, the second phase will favour assets unburdened by national accounts or tariff risk. “During rotational market days and non‑margin‑call days, we’ve started to see this dynamic take shape. DXY down, US equities underperforming ROW, gold soaring, and Bitcoin holding up surprisingly well.” Related Reading: Bitcoin Faces Pressure As Report Flags Chinese Sell-Off Plans Gold has already responded, he notes. Bitcoin, by contrast, “hasn’t kept up with gold’s outperformance” because its high‑beta reputation keeps systematic traders on the sidelines. That sets up the asymmetry: “For me, a risk‑seeking macro trader, Bitcoin feels like the cleanest trade after the trade here. You can’t tariff bitcoin, it doesn’t care about what border it resides in … and provides a clean exposure to global liquidity, not just American liquidity.” Crucially, Jauvin anticipates a visible break in the co‑movement with US tech once non‑US fiscal stimulus becomes the leading source of incremental liquidity. “I’m seeing the potential for the first time … for Bitcoin to decouple from US tech equities,” he writes, conceding that the idea has hurt many before but arguing that this time “we are seeing the potential for a meaningful change in capital flows that would make it durable.” If the thread’s logic holds, the present stress is the mandatory downstroke before a secular re‑rating. “This market regime is what Bitcoin was built for,” Jauvin concludes. “Once the degrossing dust settles, it will be the fastest horse out of the gate. Accelerate.” At press time, BTC traded at $84,766. Featured image created with DALL.E, chart from TradingView.com
Pi Network is struggling as it witnessed a sharp drop of 18% in a span of just 48 hours, which wiped out its recent recovery attempt from March. Investors are again getting weary as the momentum has turned bearish. The RSI remains below the neutral 50 mark which signals weak buying pressure and potential for …
The TRUMP memecoin is set to unlock over $300 million worth of tokens this Saturday, initiating a prolonged distribution phase expected to continue through mid-2028. The April 20 release marks the start of a daily “drip” schedule that will allocate fixed amounts to insider wallets, labeled explicitly as Creators and CIC Digital entities. Unlock timeline […]
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Near Protocol (NEAR) joined Bitcoin Cash (BCH) as a top performer, rising 3.7% from Wednesday.
Coinbase International’s Bermuda‑licensed derivatives exchange processed nearly $100 billion in Bitcoin perpetual futures volume last week.
The Stellar blockchain has made new partnerships with Paxos, Ondo, Etherfuse and SG Forge.
A year after its launch, the Ethereum restaking protocol is rolling out the critical accountability measure meant to address lingering security concerns.
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.”????️ CEXs hit with outages as AWS runs into trouble. The question is, do we need more decentralization? Today, @RKBaggs and @ZVardai are joined by @GracyBitget, CEO of @Bitgetglobal on #CHAINREACTION to unpack the problem!https://t.co/OPoyu1IORC— Cointelegraph (@Cointelegraph) April 15, 2025Related: 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
The Converge chain is set to have fast blocktimes, let users pay gas fees in Ethena's tokens and support both permissionless and permissioned apps, the teams said.
Binance is reportedly guiding several governments on establishing strategic Bitcoin reserves and developing clear crypto regulations. In an April 17 interview on Financial Times, Binance CEO Richard Teng disclosed that multiple countries have approached the exchange for its expertise in navigating crypto-related initiatives. According to him: “We have actually received quite a number of approaches […]
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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
Bitcoin staking protocol Babylon saw $1.26 billion in BTC unstaked from its platform, reducing the protocol’s total value locked by 32%. On April 17, blockchain analytics firm Lookonchain flagged several addresses that had unstaked a total of 14,929 Bitcoin (BTC) from the staking platform. The security firm flagged four addresses that had unstaked 299 BTC, 499 BTC, 1,000 BTC and 13,129 BTC. One address held a majority of the unstaked assets worth $1.1 billion. With BTC prices hovering at around $84,400, the total unstaked BTC was worth about $1.26 billion.The unstaking event saw Babylon’s total value locked (TVL) drop by 32%. According to data tracker DefiLlama, Babylon’s TVL declined from $3.97 billion to $2.68 billion after the unstaking.Source: LookonchainUnstaked Bitcoin may be “staked back” to Babylon Community members are speculating on who was behind the unstaking. One X user suspected that the Bitcoin may belong to the Chinese government, while another said the move may simply be a rotation, risk-off, or a trader getting liquid.While it’s unclear who’s behind the four addresses cited by Lookonchain, the fund movements could be related to a transition initiated by the decentralized finance (DeFi) protocol Lombard Finance. At the time of the unstaking, Babylon Labs retweeted an announcement from Lombard, saying it was unstaking Bitcoin as part of a transition to a new set of finality providers. Lombard Finance said it timed the unstaking with the end of Babylon’s phase 1 cap 1 on April 24 so users would not miss out on rewards. The protocol said it would stake the assets back. “All of this BTC will be staked back into Babylon as soon as the unbonding is complete,” Lombard Finance wrote. Cointelegraph reached out to Babylon Labs for comments but did not get a response by publication.Related: Bitcoin L2 ’honeymoon phase’ is over, most projects will fail — Muneeb AliBitcoin unstaking follows BABY airdropThe massive unstaking event follows a Babylon airdrop for early adopters. On April 3, Babylon announced the details of its early adopters airdrop program. The airdrop was allocated for its Phase 1 stakers, non-fungible token (NFT) holders and developers. The protocol allocated 600 million BABY tokens for the airdrop event. Following the airdrop, $21 million in BTC was unstaked from the protocol. Bitlayer co-founder Kevin He previously told Cointelegraph that this was a common short-term market behavior representing early redemption. Babylon is one of the largest Bitcoin DeFi players in the space, with a TVL reaching over $6 billion in December. Babylon co-founder Fisher Yu previously told Cointelegraph that the platform allows staking to be a native use case for Bitcoin, eliminating the need to trust another party while staking. Magazine: Your AI ‘digital twin’ can take meetings and comfort your loved ones
A recently released DOJ memo marks a significant policy change and could have ramifications for cryptocurrency cases, sources say.
XRP remains one of the most popular coins in the market, with a cult-like community that has supported it for years. With the bullish sentiment surrounding it, the altcoin has performed quite well and continues to inspire support. The most recent developments for XRP have been the ETF filings that suggest it might be the next altcoin to get an SEC nod after Ethereum. The number of filings also puts it well ahead of investor favorites such as Solana and Dogecoin in the running for the next ETF approval. XRP ETF Filings Climb To 10 XRP ETF filings have been coming out of the market over the past year, especially with the approvals of Ethereum Spot ETFs. These ETFs are expected to give institutional investors an official vehicle to get proper exposure to the market. As Bitcoin and Ethereum ETFs have been done and dusted, issuers have looked to other large cap altcoins to bring into the market. Related Reading: Analyst Who Called Dogecoin Price Rally In 2024 Predicts 300% Rally In April The next favorites on the list have been XRP, in addition to heavy hitters such as Solana, Dogecoin, and Litecoin. However, in the race, XRP has clearly differentiated itself in terms of interest, boasting twice as many filings as any other altcoin. According to data from Kaito Research, there are currently 10 XRP ETF filings pending approval or rejection from the SEC. In contrast, there are five Solana ETF filings, 3 Litecoin filing, and 3 Dogecoin filings. This shows clearly that interest in XRP as the next altcoin to gain ETF approval is the highest. Additionally, the SEC has acknowledged the XRP ETF filings from industry leaders such as Grayscale. There are also filings from ProShares, Franklin Templeton, Bitwise, 21Shares, among others. However, BlackRock has not made a move to file for an XRP ETF despite leading the Bitcoin and Ethereum ETF campaigns. Nevertheless, the filings for XRP ETFs remain a big deal for the altcoinm and their approval could trigger another wave of price hikes. ETFs And The SEC Battle Conclusion For many, the major hindrance to an SEC approval of an XRP ETF was the ongoing battle between the crypto firm and the regulator, which began in 2020. However, in March 2025, Ripple CEO Brad Garlinghouse announced that the case was officially over. Related Reading: Is The XRP Price Mirroring Bitcoin’s Macro Action? Analyst Maps Out How It Could Get To $71 With this development, expectations that the regulator will look favorably upon an XRP ETF are high. If the ETFs are approved, even with a fraction of the Bitcoin ETF volumes, the XRP price is expected to explode in response, with some analysts predicting that the altcoin’s price could rise to the double-digits. Featured image from Dall.E, chart from TradingView.com