Paul Grewal, chief legal officer for Coinbase, has urged to rescind prohibition of SEC employees from holding or using cryptocurrencies. He called the prohibition “particularly egregious” as the vast majority of crypto activity does not involve securities. In a letter to the acting director of the US Office of Government Ethics (OGE), Grewal stressed that SEC staff need to use crypto and understand the technology before making recommendations for regulatory proposals. He noted that “potential conflicts” in removing the ban can easily be managed. I never understood why @SECGov employees are barred from holding or using digital assets. Any potential conflicts can easily be managed. So I wrote to ask that @OfficeGovEthics rescind and update Legal Advisory 22-04 and for the Crypto Task Force to issue waivers—now. pic.twitter.com/vdG9veuqPY — paulgrewal.eth (@iampaulgrewal) April 25, 2025 “To regulate technology, you need to understand it. To understand technology, you need to use it,” he wrote. In January, President Trump signed an executive order to “establish regulatory clarity for digital financial technology.” He had ordered a Working Group, comprising key leads, including the SEC staff, to submit a report within 180 days, recommending crypto regulatory and legislative proposals . Coinbase’s Grewal noted that almost half of the given time is already over. Further, he emphasized the need for the SEC staff to use the technology, on which they are making recommendations. Grewal Writes to Newly Sworn-In SEC Chair Paul Atkins Additionally, in a separate letter to the new Securities and Exchange Commission chair , Paul Atkins, he said that the ban on SEC employees from holding crypto is an “impediment to the Task Force’s ability” to aid in the right crypto regulatory recommendations. “This needs to be corrected immediately,” he wrote in the letter . Grewal added that Coinbase has pressed the OGE to rescind and update Legal Advisory 22-04. The Legal Advisory , released in 2022, states, “an SEC employee who holds any amount of a cryptocurrency or stablecoin may not participate in a particular matter.” He also said that this rule is “misguided and damaging to [crypto] regulatory progress.” In the letter, Grewal told Atkins that the Commission should clarify that certain crypto holdings would not have “a direct and predictable effect on the value of their crypto or stablecoins.” Most Crypto Activities are Not Securities: Coinbase CLO Further, he added that the Commission must continuously adapt and build new expertise, given the rapid rise in crypto. Besides, he noted that most crypto activities are not securities, highlighting the recent SEC reversals on crypto enforcement actions. “The technology itself is not a security, and securities regulators’ engagements with the technology does not inherently entail conflicts or concerns.” The post Coinbase CLO Urges to Rescind Prohibition on SEC Staff Holding Crypto appeared first on Cryptonews .
The post Chamath Palihapitiya Highlights 5 Key Trends Fueling Crypto Growth in 2025 appeared first on Coinpedia Fintech News After Donald Trump returned to office with a pro-crypto stance, crypto deal-making has exploded in 2025. According to a well-known venture capitalist, Chamath Palihapitiya , crypto acquisitions and public listings in the U.S. have already reached $8.2 billion across 88 transactions, tripling the total value seen in all of 2024. He has also highlighted five key trends driving this rapid growth. Companies Are Turning Treasuries Into Bitcoin Investments First, we’re seeing a wave of Bitcoin treasury moves. Companies like Twenty One Capital are following in the footsteps of MicroStrategy by turning their corporate treasuries into Bitcoin investment vehicles. Their business model is simple, buy Bitcoin, hold it, and ride the wave of crypto appreciation. Wall Street Firms Moving Into Crypto Second, traditional finance firms are making serious moves into crypto infrastructure. A major example is DTCC’s acquisition of Securrency. This deal allows Wall Street firms to offer crypto services alongside traditional assets, giving investors the best of both worlds on a single platform. Institutions Are Building Secure Platforms Third, institutions are stepping up their crypto game. Ripple’s purchase of Metaco shows the push to build platforms that can securely manage digital assets while meeting the strict compliance needs of big players like banks and asset managers. Crypto Exchanges Merge for Growth Fourth, crypto exchanges are consolidating. Kraken’s $1.5 billion purchase of futures broker NinjaTrader is a major step in blending digital and traditional trading. It’s all about making it easy for users to move between Bitcoin, stocks, and more without the usual hassle. Finally, even blockchain projects are merging. Projects like Fetch, Ocean Protocol, and SingularityNET are combining forces to speed up growth, expand their communities, and boost the power of their tokens. However, all of these moves together are building a bridge between traditional finance and decentralized finance. If this trend continues, 2025 might be the year crypto truly becomes part of the everyday financial world. Crypto Market Outlook After struggling for two months, the crypto market is finally showing some strength. The total market cap is now around $3.03 trillion . Leading the way, Bitcoin has just hit $95,000 after a long period of consolidation. Meanwhile, Ethereum is also moving up, trading at $1,809 with a 10% gain over the week. Other altcoins like XRP, Solana, Cardano, and Dogecoin have also gone up by 8% to 15% this week. What is driving the $8.2 billion in crypto acquisitions? The rapid growth of Bitcoin treasury investments, Wall Street firms entering crypto, and major mergers in crypto exchanges and blockchain projects are driving the surge in acquisitions. How are companies turning their treasuries into Bitcoin investments? Companies like Twenty One Capital are following MicroStrategy’s model by buying Bitcoin and holding it as part of their corporate treasury to ride the wave of crypto appreciation.
A South Korean lawmaker accused Bithumb of using dark patterns to charge users higher fees than advertised. Cryptocurrency exchange Bithumb earned more than 140 billion won (nearly $97.6 million) in extra fees by using unclear processes that misled users, The Maeil Business Newspaper reports , citing a South Korean lawmaker. Kim Jae-sup, a member of the People’s Power party, revealed that Bithumb earned 672.79 billion won in total fees between February 2023 and February 2024, referring to data submitted by the Financial Supervisory Service. During the period, Bithumb advertised a “lowest commission in Korea” of 0.04%. In reality, however, the average commission rate charged to actual users was 0.051%, Kim added. As a result, consumers faced an additional fee of about 140.91 billion won, the lawmaker emphasized. You might also like: Crypto exchange Bithumb to spin off investment arm ahead of potential Nasdaq listing Kim explained that Bithumb failed to properly notify users that they needed to register a coupon to receive the minimum fee rate. The South Korean lawmaker suggested that such a practice seems to be a typical dark pattern , a deceptive scheme where a user interface is carefully crafted to trick users into doing things they didn’t mean to. The lawmaker also highlighted that the extra fee burden was heavier on older users. “The damage to the middle-aged who may have difficulty recognizing or carrying out the coupon registration process is even more serious,” Kim said. The lawmaker urged regulators to step in, saying the Financial Services Commission and the Fair Trade Commission should take strong action to stop this kind of consumer deception. Bithumb successfully returned to profitability in 2024, with revenue increasing by 265.4% year-over-year. Per data from the Financial Supervisory Service’s electronic disclosure system, Bithumb posted an operating profit of 130.7 billion won (around $90.1 million) last year, marking a turnaround from losses as the exchange had recorded an operating loss of 14.8 billion won in 2023. Net profit for 2024 surged 565.8% year-over-year to 161.8 billion won (nearly $111.2 million). Read more: Crypto exchnage Bithumb alerts customers following data breach at Korea’s largest carrier
Exchange-traded funds issuer ProShares is set to unveil three XRP ETFs on April 30, following approval from the U.S. Securities and Exchange Commission. According to an official Form N-1A filing , the new XRP ( XRP ) ETFs include ProShares’ Short XRP ETF, Ultra XRP ETF, and UltraShort XRP ETF . Each product comes with a different leverage, which lets traders choose between the three XRP-backed futures set to begin trading on April 30. The Ultra XRP ETF offers 2x leverage, while the Ultra Short XRP ETF boasts an inverse leverage of -2x. Lastly, the firm’s Short XRP ETF will also provide an inverse leverage of -1x. Future-based ETF products gives traders exposure to futures contracts that track the price movements of XRP through an index. Unlike a spot ETF which requires traders to buy XRP tokens, a futures XRP ETF would allow them to place bets on the price of XRP without having to directly hold the asset. Meanwhile, ProShares also has a separate filing to spot XRP ETFs that is still awaiting review from the SEC . Price chart for XRP following the U.S. SEC approval for ProShares’ XRP ETFs, April 28, 2025 | Source: crypto.news Read more: Teucrium to launch first leveraged XRP ETF in the U.S. after SEC approval ProShares’ XRP ETF approval comes only a few days after the first XRP ETF started trading on the market. Earlier this month, on April 8, ETF issuer Teucrium became the first firm to receive U.S. SEC approval to bring their XRP ETF to the New York Stock Exchange. At press time, XRP has gone up by 4.86% in the past 24 hours of trading. Ripple’s token is currently trading hands at a price of $2.28 with a market cap of more than $133 billion. In the past day, the daily trading volume for XRP has gone up by 67.9% to $4.2 billion, indicating a rise in market activity. So far, the SEC has only granted approval for Teucrium and ProShares’ XRP ETF applications. Last month, the financial agency decided to postpone the decision on Grayscale’s XRP ETF application, stating they need more time to review the proposal. Institutional interest towards XRP ETFs has been growing rapidly in recent months. in large part due to the token’s inclusion in the Trump administration’s crypto reserve. Aside from Grayscale, other asset managers like Franklin Templeton, Canary Capital, WisdomTree, Bitwise, CoinShares, and 21Shares have also applied for institutional investment products associated with XRP. You might also like: XRP leads in new ETF applications ahead of SEC’s deadlines
Disclosure: This article does not represent investment advice. The content and materials featured on this page are for educational purposes only. With crypto adoption at an all-time high, more investors are turning to crypto-backed loans to unlock liquidity without selling their assets. Table of Contents 1. Rocko 2. Aave 3. Unchained 4. Ledn 5. Nexo Conclusion As global crypto adoption accelerates, investors are increasingly seeking ways to access liquidity without selling their assets. Crypto-backed loans have surged in popularity, allowing crypto owners to use their crypto holdings as collateral to borrow funds. This approach enables investors to retain ownership of their crypto and avoid taxable events like selling while accessing liquidity for new investments, business expenses, major purchases, and more. To service the demand for crypto loans, an entire industry has emerged. Today, there are a variety of crypto loan platform offerings, each with different models, rates, and value propositions, complicating the decision process for many prospective borrowers. To simplify choosing the best crypto lending platform, here are the five top options for 2025. 1. Rocko Rocko is a simple-to-use, crypto-loan marketplace that aggregates the best rates and protocols across DeFi, offering a one-stop solution for securing competitive crypto-backed loans. Users can compare interest rates and easily borrow from top DeFi protocols like Aave and Morpho. Rocko’s design is simple to use for crypto users of all levels, ensuring anyone can get a loan in minutes and immediately receive the funds to their preferred exchange account. Rocko also offers helpful loan management tools such as alerts to monitor collateral value and a refinancing tool which allows borrowers to refinance their loan in one click. Rocko supports many major cryptos as collateral including Bitcoin, Ethereum, Solana , and more. Pros: Compare and access a variety of competitive interest rates. Non-custodial platform so borrowers keep control of their crypto. Compatible with any Ethereum wallet and accounts at centralized exchanges like Coinbase. No monthly minimum payments and no required repayment date. Cons: No fixed-rate loan options. Few tools for implementing highly levered strategies. 2. Aave Aave is one of the earliest DeFi lending protocols and remains one of the most established with many years of being battle tested. Aave allows for the supply and borrowing of a variety of crypto assets across many Ethereum-based networks. The protocol’s flexibility and significant depth of liquidity make it a popular platform for those with more technical familiarity and DeFi experience. Pros: Fully decentralized and open-source. Broad asset and network support. Features like flash loans and efficiency-mode borrowing. Cons: Difficult to use for less experienced users. Interest rates can fluctuate wildly. 3. Unchained Unchained focuses solely on Bitcoin financial services including Bitcoin-backed loans. While it’s a centralized lending platform, its multi-key structure sets it apart, requiring multiple parties to authorize any movement of collateral. This collaborative custody model appeals to those prioritizing control and transparency over BTC loan arrangements. Pros: Bitcoin-collateralized loans without rehypothecation. 2-of-3 multisig model can increase security. Collaborative custody for added transparency. Cons: No support for other crypto besides Bitcoin. Primarily tailored to institutional clients. Interest rates can be high relative to decentralized options. 4. Ledn Ledn is a crypto financial services firm that offers loans against Bitcoin and Ethereum using a third–party custodian, BitGo. Borrowers can choose whether their collateral is rehypothecated, which can reduce the interest rate they pay. Ledn is one of the first centralized crypto companies to complete a Proof-of-Reserves attestation which can provide some assurance to potential users. They also offer a Bitcoin-loan product that automatically purchases more Bitcoin with the proceeds, which may be appealing to Bitcoin owners looking to increase their exposure. Pros: Choice over rehypothecation of collateral. Completed Proof-of-Reserves attestation. Loan product that automatically purchases more Bitcoin. Cons: Interest rates can be high relative to decentralized options. High admin fees. 5. Nexo Nexo offers a broad custodial lending platform supporting a wide range of crypto assets. Loans are typically approved quickly, with no credit checks, appealing to those seeking immediate access to fiat or stablecoin liquidity. The platform emphasizes convenience but with the tradeoff of custodial trust and rehypothecation risk. Pros: Fast approval process. No credit score required. Wide selection of supported crypto assets. Cons: Collateral may be rehypothecated, increasing risk for borrowers. Service not available in certain jurisdictions such as the U.S. Conclusion While the crypto lending landscape is constantly evolving, these five crypto loan platforms top the list for the best crypto loan platforms of 2025. Each offers a different model and value proposition to borrowers and we encourage prospective users to research the options themselves and choose what makes most sense for them. Whether borrowers want a simple-to-use platform with access to many competitive rates, such as Rocko , or a centralized option with multi-sig institutional custody, such as Unchained, there’s an option for everyone. Read more: Semler Scientific aims to raise $500m for Bitcoin, taps Coinbase for crypto-backed loans Disclosure: This content is provided by a third party. crypto.news does not endorse any product mentioned on this page. Users must do their own research before taking any actions related to the company.
After a significant price increase, a $265 million SUI token unlock is scheduled to take place this week, which could lead to selling pressure. On May 1, approximately 74 million Sui ( SUI ) tokens, or 2.28% of the circulating supply, will be unlocked, according to data from Tokenomist. The pending release adds fresh selling pressure at a moment when demand has been heating up. So far, only 33% of the total SUI supply is unlocked. Meanwhile, Sui’s on-chain fundamentals have been strengthening . Total value locked on Sui-based protocols climbed 40% since the beginning of April, now sitting at $1.73 billion, as per DeFiLlama data . Stablecoin market cap on the network also jumped from $630 million to $880 million over the same period, while daily decentralized exchange volume has been hovering around $500 million. The network has handled over $3.6 billion in trading over the last seven days, lifting its monthly volume past $11 billion. With fresh supply about to hit the market, some traders may take profits after last week’s gains. However, others see the growing DeFi metrics as signs that Sui can absorb the new tokens without a downturn. You might also like: SUI or SEI: Which one will dominate the 2025 bull market? AI has a radical take SUI is trading around $3.62 after a strong breakout above the $3.30 resistance zone. Bullish signals across key indicators have supported the rally. With a relative strength index of 78, the asset appears to be overbought, signaling potential exhaustion in the short term. Momentum indicators are still in favor of buyers, and the moving average convergence/divergence is still in positive territory. Sui price analysis. Credit: crypto.news In addition, all estimated moving averages indicate a buy. If buying pressure holds and SUI stays above $3.60, it could attempt a move toward $4.00, a psychological level that may attract more momentum traders. On the negative side, SUI might retest support at $3.30 if selling pressure from the May 1 unlock starts to build. A deeper pullback might find further support around the $3.00 area, near the 10-day EMA. If the market smoothly absorbs the unlock, SUI may settle between $3.30 and $3.60 before establishing a new trend. Read more: Bitcoin dips below $94,000 as ETFs record $3b weekly inflow
Bitcoin is nearing $95,700, driven by extreme greed and high optimism in social media sentiment. The Profit/Loss ratio is approaching 1.0, signaling potential for continued growth but also the risk
On April 28th, COINOTAG reported significant developments in the world of cryptocurrency. Notably, on-chain analyst ZachXBT highlighted a troubling transaction involving an address that processed a staggering 3,520 bitcoins, equating
The post WazirX News: 85% Fund Recovery Plan Explained for Affected Users appeared first on Coinpedia Fintech News The Supreme Court recently dismissed a petition filed by WazirX users following the platform’s major hack in July 2024. The hack, which resulted in the theft of Rs. 2,000 crore worth of crypto , left over 4.4 million users locked out of their accounts. This incident, and the court’s rejection of the petition, has highlighted the glaring gaps in India’s crypto regulations , leaving users vulnerable and raising questions about the country’s ability to protect digital asset holders. The WazirX Hack: A Blow to 4.4 Million Users On July 18, 2024, WazirX, one of India’s largest crypto exchanges , was targeted in a massive hack that saw a significant portion of user funds stolen. Despite the exchange’s promise to restore 85% of users’ funds by May 2025, many affected users are dissatisfied with the compensation plan. This led 54 users to file a petition with the Supreme Court, seeking intervention in the ongoing restructuring process happening in Singapore, and requesting a thorough investigation into the exchange’s fund mismanagement. Supreme Court’s Decision: A Setback for Users The Supreme Court, led by Justice B R Gavai and Justice Augustine Masih, dismissed the petition, citing the absence of clear crypto regulations in India . The ruling underscored the limitations of the current legal framework, leaving victims of crypto hacks, such as the WazirX incident, with little recourse in the Indian legal system. WazirX’s Restructuring Plan: Fund Recovery on the Horizon In response to the hack, WazirX management proposed a restructuring plan to the Singapore Court, promising to restore 85% of affected user funds by May 2025. The remaining 15% will be returned over the following 2-3 years, depending on the exchange’s recovery and future profits. While the restructuring plan has received user support, the Singapore court’s approval is still pending. WazirX Users Vote in Favor of the Recovery Plan Despite the legal hurdles, WazirX claims that more than 93% of users support the exchange’s restructuring proposal, following a vote conducted in partnership with legal firm Kroll. The Call for Crypto Regulation in India The WazirX case serves as a wake-up call for India, highlighting the urgent need for a clear and robust cryptocurrency regulatory framework. While countries like the U.S. have embraced pro-crypto policies , India’s regulatory stance remains largely outdated. The WazirX hack exposes how India’s failure to adopt progressive crypto laws leaves users at risk, preventing the sector from reaching its full potential. As the global crypto landscape continues to evolve, India risks falling behind if it does not address its regulatory shortcomings. The WazirX saga illustrates the challenges faced by users in a legal vacuum, emphasizing the need for stronger regulations to protect the growing crypto community in India. FAQs How does WazirX’s restructuring plan work for affected users? WazirX’s restructuring plan aims to restore 85% of the crypto portfolios for affected WazirX users by May 2025. The remaining 15% of the funds will be returned over the next 2-3 years, depending on the exchange’s recovery and future profits. This plan is part of the ongoing restructuring process being presented in the Singapore court. While WazirX claims over 93% of users support this proposal, the plan still awaits court approval. What steps are WazirX users required to take to benefit from the proposed 85% fund recovery in the restructuring plan? WazirX users need to stay updated on the restructuring process, accept the plan, and possibly verify their accounts to claim their share of the 85% fund recovery. Why is WazirX promising to restore only 85% of the users’ funds, and what happens to the remaining 15%? WazirX is restoring 85% due to financial constraints after the hack. The remaining 15% will be returned over 2-3 years, depending on the exchange’s future profits and recovery. How does WazirX plan to recover the remaining 15% of funds over the next 2-3 years for users affected by the hack? WazirX plans to recover the remaining 15% through future profits and successful financial recovery, returning the funds once the exchange is in a better financial position.
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