Federal prosecutors have asked a judge to sentence former Celsius Network CEO Alex Mashinsky to at least 20 years in prison for orchestrating a multiyear fraud that caused over $550 million in losses to cryptocurrency investors. Mashinsky’s $48M Gain from Celsius Collapse Demands 20 Years, Prosecutors Say In a sentencing memorandum filed April 28, the
On April 30th, COINOTAG reported on U.S. President Trump’s address in Michigan, where he reaffirmed his commitment to prioritizing **economic issues**. The President highlighted a comprehensive **tax reform** initiative, designed
U.S. Secretary of Commerce Howard Lutnick has articulated a clear pro-Bitcoin stance under the Trump administration, emphasizing that Bitcoin should be treated as a commodity similar to gold due to its fixed supply of 21 million coins. Lutnick highlighted that the previous Biden administration treated Bitcoin with skepticism, but the current administration views it as beneficial for freedom and the economy. The U.S. government plans to accelerate Bitcoin mining by allowing miners to build power plants and data centers near natural gas fields, aiming to reduce reliance on the public power grid and control energy costs. This initiative is expected to turbocharge Bitcoin mining growth in America. Additionally, President Trump's Executive Director Bo Hines described a global "space race" among countries to accumulate Bitcoin, signaling the U.S. commitment to becoming a leading Bitcoin superpower. The administration intends to support Bitcoin businesses and encourage miners to establish operations in the U.S., reinforcing the country's position as a hub for Bitcoin mining and digital asset accumulation. This is an AI-generated article powered by DeepNewz, curated by The Defiant. For more information, including article sources, visit DeepNewz . To continue reading this as well as other DeFi and Web3 news, visit us at thedefiant.io
The United Kingdom has announced its ambition to become a global leader in digital assets, according to statements from the UK Finance Minister. This marks a notable shift in the country's approach to financial innovation and digital currencies. The UK government is positioning itself to capitalize on emerging technologies such as Bitcoin and stablecoins, which some observers suggest could play a role in addressing national debt challenges. The initiative reflects a strategic effort to compete internationally in the evolving digital asset landscape, amid growing global interest in cryptocurrency and blockchain technologies. This is an AI-generated article powered by DeepNewz, curated by The Defiant. For more information, including article sources, visit DeepNewz . To continue reading this as well as other DeFi and Web3 news, visit us at thedefiant.io
The U.S. Securities and Exchange Commission (SEC) has delayed its decision on Bitwise Invest's Dogecoin ETF application until June 15, 2025, and Franklin Templeton's XRP spot ETF until June 17, 2025. These delays involve proposed rule changes by NYSE Arca and Cboe BZX Exchange, respectively. The SEC has also deferred its decision on staking for Fidelity's spot Ethereum ETF. These delays are expected to continue, with final decisions on many cryptocurrency exchange-traded products (ETPs) anticipated in Q4, and a specific mid-October deadline around the 18th for the XRP spot ETF. To continue reading this as well as other DeFi and Web3 news, visit us at thedefiant.io
Big news shaking up the blockchain world! Miden, a project focused on bringing robust privacy to decentralized applications using advanced ZK-Rollup technology, has just announced a significant milestone. The project successfully closed a seed funding round, raising an impressive $25 million. This substantial crypto funding injection signals strong investor confidence in Miden’s vision and its potential to address critical challenges in the blockchain space, particularly around privacy and scalability. What Exactly is Polygon Miden and Why the Buzz? At its core, Polygon Miden is not just another blockchain project; it’s a cutting-edge ZK-Rollup being developed within the Polygon ecosystem. Think of it as a specialized layer designed to execute decentralized applications (dApps) with enhanced privacy and scalability, capabilities often lacking in mainstream blockchains. Miden utilizes STARKs (Scalable Transparent ARguments of Knowledge), a type of zero-knowledge proof. Without getting overly technical, ZK-proofs allow one party to prove to another that a statement is true, without revealing any information beyond the validity of the statement itself. In Miden’s case, this means transactions and application logic can be executed privately off-chain, bundled together, and then verified on the main chain (like Ethereum) using a single, concise STARK proof. This process dramatically increases transaction throughput and reduces costs, while crucially adding a layer of privacy. The goal of Polygon Miden is ambitious: to become the go-to platform for dApps that require high throughput, low transaction fees, and, most importantly, programmable privacy. This opens up a whole new world of possibilities for decentralized finance (DeFi), gaming, identity solutions, and more. The Need for a Privacy Blockchain In a world increasingly concerned with data ownership and digital footprint, the transparency inherent in most public blockchains can be a double-edged sword. While transparency fosters trust and auditability, it also means that every transaction, every interaction with a smart contract, is publicly visible. This can be problematic for: Businesses: Revealing supply chain movements, transaction volumes, or internal logic publicly. Individuals: Exposing financial history, spending habits, or even sensitive interactions with dApps. Gaming/Metaverse: Potentially revealing strategies or private in-game assets/activities. This is where a true privacy blockchain or a privacy-focused layer becomes essential. Miden aims to provide developers with the tools to build applications where users can control what information is revealed and to whom, executing logic privately while still leveraging the security and decentralization of the underlying blockchain. How ZK Rollup Technology Powers Miden’s Vision The magic behind Miden’s capability lies in its ZK Rollup architecture, specifically its focus on a STARK-based virtual machine (VM). Unlike other ZK solutions that might focus on specific use cases (like private transfers), Miden is building a general-purpose ZK-Rollup. This means it aims to support arbitrary smart contract logic, similar to how the Ethereum Virtual Machine (EVM) works, but with the added benefits of ZK proofs. Here’s a simplified look at the ZK Rollup process Miden employs: Off-Chain Execution: Thousands of transactions and complex smart contract executions happen off the main Ethereum chain within the Miden environment. These can include private computations. State Updates: The results of these executions update Miden’s state off-chain. Proof Generation: A single, cryptographic STARK proof is generated, verifying the correctness of all these off-chain computations and the resulting state transition. On-Chain Verification: This single, compact proof is submitted to a smart contract on the main chain (e.g., Ethereum L1), where it is quickly and cheaply verified. State Commitment: The main chain contract updates its state to reflect the verified off-chain computations, securing the Rollup’s state on the decentralized base layer. This method drastically reduces the data posted to the main chain, leading to significant scalability improvements and lower gas fees, while the ZK-proof ensures the integrity and potential privacy of the off-chain computations. Decoding the $25M Miden Seed Round Success The announcement of the $25 million seed round is a major validation for the Miden project. The round was led by some of the most prominent venture capital firms in the crypto and tech space: Andreessen Horowitz (a16z), Hack VC, and 1kx. Their participation isn’t just about the money; it brings immense credibility, strategic guidance, and network effects to the project. Andreessen Horowitz (a16z): A titan in VC, known for backing foundational internet and crypto companies. Their investment signals strong belief in Miden’s technology and market potential. Hack VC: Another significant player in the crypto investment landscape, focused on supporting technical teams building decentralized infrastructure. 1kx: Known for its focus on early-stage crypto protocols and ecosystems. This significant crypto funding will likely be used to accelerate the development of the Polygon Miden network, expand the core engineering team, invest in research and development for ZK technology, and potentially kickstart ecosystem growth initiatives to attract developers and users. It’s worth noting the source of the news, Wu Blockchain on X, is a respected voice in tracking developments, particularly in the Asian crypto market, adding another layer of confirmation to this important funding event. The Polygon Labs Connection: More Than Just an Investor? The original report mentioned that Polygon Labs did not invest directly but secured an agreement for token allocation. This detail, while seemingly simple, highlights the deep integration of Miden within the broader Polygon strategy. As clarified earlier, Miden is a project *developed by* Polygon Labs, part of their suite of scaling and privacy solutions. The agreement to allocate 10% of future Miden tokens to Polygon token holders (POL) is particularly interesting. This aligns with Polygon’s stated vision for Polygon 2.0, which aims to create a network of interconnected ZK-powered chains. This token allocation could be a mechanism to: Reward existing Polygon (POL) holders for their support of the ecosystem. Incentivize participation and decentralization on the future Miden network. Foster synergy and alignment between the different chains and components within the Polygon 2.0 architecture. It suggests a future where Miden’s success directly benefits those holding the core Polygon ecosystem token, reinforcing the idea of a unified network rather than disparate projects. Benefits Miden Promises to Deliver With this funding, Polygon Miden is better positioned to deliver on its core promises: Enhanced Privacy: Enabling private transactions and confidential application logic using ZK proofs. Massive Scalability: Handling thousands of transactions per second by batching them off-chain. Lower Costs: Drastically reducing gas fees compared to executing everything on a base layer like Ethereum L1. Developer Flexibility: Building a ZK-VM that supports complex dApps. Ecosystem Growth: Attracting developers and users seeking privacy-preserving and scalable solutions. Challenges on the Horizon Despite the significant funding and technological promise, Miden faces challenges: Competition: The ZK Rollup space is highly competitive, with several well-funded projects vying for market share. Adoption: Convincing developers and users to build and transact on a new network requires significant effort and incentives. Complexity: ZK technology is complex, both to build and for developers to utilize effectively. Auditing and Security: Ensuring the security and correctness of ZK circuits and the Miden VM is paramount. What Does This Funding Mean for You? (Actionable Insights) For Polygon (POL) Holders: Keep an eye on Miden’s development. The promised 10% token allocation could represent future value or utility tied to your POL holdings. Stay informed about Polygon 2.0 updates and how Miden fits in. For Developers: If you’re building dApps that require privacy, scalability, or complex logic executed efficiently, Miden could become a crucial platform. Start exploring ZK concepts and the Miden documentation as it becomes available. For Users Interested in Privacy: Watch for dApps launching on Miden. These could offer new ways to interact with DeFi, gaming, and other applications with greater control over your data. For Investors: This seed round is closed, but Miden’s progress is a key indicator for the broader ZK and Polygon ecosystem. It highlights the areas where significant development and potential future value lie. Conclusion: A Pivotal Moment for Miden and Privacy in Crypto The $25 million seed funding round for Miden, led by top-tier investors like a16z, Hack VC, and 1kx, is far more than just a financial transaction. It’s a powerful statement about the growing importance of privacy and scalability in the blockchain space, and a significant vote of confidence in Polygon Miden’s ZK Rollup technology. As a core project within the Polygon ecosystem, Miden is poised to play a key role in the future of decentralized applications, potentially unlocking new use cases that were previously limited by the public nature and throughput constraints of existing chains. While challenges remain, this substantial crypto funding provides Miden with the resources needed to push the boundaries of what’s possible with privacy blockchain solutions and advanced ZK Rollup technology. Keep watching Polygon Miden; its journey is just beginning. To learn more about the latest crypto funding trends and developments in the ZK Rollup space, explore our articles on key developments shaping the blockchain ecosystem.
NYDIG sees Bitcoin diverging from traditional risk assets as a safe haven. Political and economic uncertainties are driving the shift towards Bitcoin. Continue Reading: Bitcoin Emerges as a Safe Haven Amidst Financial Turbulence The post Bitcoin Emerges as a Safe Haven Amidst Financial Turbulence appeared first on COINTURK NEWS .
As the market gears up for another major cycle, names like Bitcoin (BTC) , Ethereum (ETH) , Ripple (XRP) , and Solana (SOL) continue to dominate headlines. Alongside these giants, new opportunities are gaining speed — with MAGACOINFINANCE.COM emerging as one of the sharpest early-stage plays. Paired with rising momentum from Kaspa (KAS) , investors are now weighing where the biggest moves could come from in 2025. MAGACOINFINANCE.COM: Unlocking Strategic Early Gains Among the crowd of contenders, MAGACOINFINANCE.COM is showing a clear edge with its early-stage performance. Designed around capped token supply, growing community strength, and a well-timed bonus incentive, it is capturing serious attention from strategic investors. Right now, buyers can secure a 50% bonus using the MAGA50X code — allowing greater token access before broader listings fuel even more competition. Early entry timing remains the key to maximizing upside, and MAGACOINFINANCE.COM is delivering that opportunity now. Why Analysts Are Watching MAGACOINFINANCE.COM Closely Unlike many emerging projects that take months to attract real momentum, MAGACOINFINANCE.COM gained organic traction immediately upon launch. Its capped supply, rapid online engagement, and clear growth trajectory have made it a standout among early-stage opportunities. Crypto analysts and insiders increasingly point to MAGACOINFINANCE.COM as a serious contender for one of the fastest growth stories of 2025 — providing early entrants with a rare window before the broader crypto community fully catches on. Momentum in Focus: XRP, Solana, Kaspa XRP is gaining institutional momentum with cross-border settlement solutions expanding across multiple regions. Solana is solidifying its comeback with stronger DeFi growth and NFT marketplace dominance. Kaspa is accelerating transaction speeds with its unique blockDAG architecture, drawing interest from tech-driven blockchain users. Conclusion As 2025 draws nearer, heavyweight projects like Bitcoin (BTC) , Ethereum (ETH) , Ripple (XRP) , and Solana (SOL) remain important foundations for the crypto space. However, new movers like Kaspa (KAS) and especially MAGACOINFINANCE.COM are offering rare early-stage entry points — making now the critical time to move before momentum hits its next level. For more information about MAGACOINFINANCE , please visit: Website: https://magacoinfinance.com Twitter/X: https://x.com/magacoinfinance Continue Reading: Huge Upside Possible in 2025? XRP, MAGACOINFINANCE.COM, Solana, and Kaspa Are Building Momentum
Since the crypto market shifted towards positive territory, Bitcoin , the largest digital asset, has maintained a bullish stance during this period, igniting hopes of a continued bull market phase. Following the renewed upward trend, several factors of BTC’s market dynamics are beginning to see positive results, such as the overall supply in profit. Market Euphoria Brewing With Bitcoin Profitability Rise Bitcoin is continuously capturing market attention as bullish momentum builds. With BTC’s price maintaining an upward performance, Kyle Doops, an on-chain expert and host of the Crypto Banter show, has outlined a notable shift in its market dynamics. Specifically, Kyle Doops reported that the percentage of BTC’s overall supply held in profit has increased alongside the recent price rally, which is a classic precursor to heightened investor excitement. Historically, momentum has accelerated, and prices have frequently reached parabolic territory when most Bitcoin holders are sitting on gains. Data shows that the percentage of supply in profit has rebounded to 87.3% from the March lows as BTC pushed to the $94,300 level. It is worth noting that the last time BTC hit about $94,000, just 82.7% of the entire supply was profitable. This implies that almost 5% of the supply was changed at lower price levels, which is a clear indication of accumulation. A persistent rise in BTC’s profitability could spur demand for the flagship asset among retail and institutional investors in the following days, bolstering the current uptrend. Since prices tend to go parabolic when most holders are in profit, Bitcoin may be setting the stage for an explosive rally . With sentiment improving and profitability metrics soaring, Kyle Doops is confident that sustained profitability above 90% might spark the “next true euphoria phase,” if history is to be believed. A Wave Of First And Momentum BTC Buyers During this period, Glassnode, a leading financial and on-chain data platform, has highlighted waning interest in profit-taking even as BTC’s price grows. After examining the cumulative supply per cohort, Glassnode revealed that first buyers and momentum buyers continue to exhibit high levels of engagement, while profit takers ‘ involvement is still mild. According to the on-chain platform, this is encouraging since it indicates continuous demand from new traders and trend-following players without putting a lot of strain on distribution. The strong conviction among these cohorts further supports the durability of the recent rally. This shift in investor behavior signals a growing belief in further upside potential. With investors demonstrating bullish sentiment amid a price rise, BTC’s market dynamics may be preparing for a steadier and stable ascent. At the time of writing, Bitcoin was trading at $94,903, exhibiting an increase of more than 8% in the past week. Investors are heavily betting on a continued price appreciation, as evidenced by a nearly 76% surge in trading volume in the past day.
The trade war between the US and Canada and Trump’s joke about making Canada the 51st US state helped Liberal Party leader Mark Carney win yesterday’s election. Suddenly, leadership and the country’s ability to stay economically stable became the most important issues in the race. The US president’s threats of tariffs and comments that weakened Canada’s sovereignty had a huge impact on this election. Poilievre, Carney’s competitor, brought Trump up much less frequently during the campaign. He focused his message on domestic issues and Mark Carney used it to his advantage. Mark Carney’s victory strategy Justin Trudeau quit as prime minister at the beginning of the year. At that time, Pierre Poilievre’s Conservatives were on track to defeat his Liberal Party. Carney said that Canada was in a crisis moment and said that Trump “wants to break us so America can own us” many times during the campaign and in his victory speech. In addition, Carney’s credibility as the former governor of the Canadian and UK central banks also helped him. Kevin O’Leary, a Canadian millionaire who is close to Trump and has run for leadership of the Conservative Party before, agreed that it was a good strategy. He added, “He was able to distract Canadians from his own mistakes… and say ‘Stop looking at that. Look south of the border and I can save you’.” Carney said that the old relationship with the US is “over,” and he wants to start talks on a new security and economic relationship as soon as the election is over. Carney says that the US should treat Canada with respect The prime minister of Canada, Mark Carney, said that the US should treat his country with respect and that they will only talk about trade and security with President Trump on Canada’s terms. Carney told the BBC the night before the election that he would only go to Washington for a “serious discussion to be had” that respected Canada’s sovereignty. However, economically, the US has the upper hand. About 75% of Canada’s goods go to the US, making it a big market for Canadian companies. A much smaller 17% of US goods go to Canada. Canada exports versus the US exports | Source: BBC Trump has imposed 25% tariffs on some Canadian goods and a 25% tax on all aluminum and steel imports. However, he has left out products covered by the USMCA trade deal between the US, Canada, and Mexico. The EU is set to give Canada a shoulder as trade war continues The election might be the easiest part for Carney. During the campaign, he said that he was the best person to fight Trump and protect Canada’s economy, which depends a lot on being able to trade with the US. Dealing with the unpredictable US president will be the ultimate test. Trump has threatened to use “economic force” against Canada and has said he will do so against its car industry and other sectors. The US-Mexico-Canada Agreement will definitely be looked at again. Trump signed this trade deal during his first term and called it “the best agreement we’ve ever made,” but he now thinks it is flawed. It couldn’t be more important for Canada’s economy: about three-quarters of its exports, including most of its oil and gas, go to the US. Meanwhile, European leaders immediately commended Carney and said they looked forward to stronger ties with Canada as it seeks partners other than its southern neighbor. The prime minister of Britain, Keir Starmer, said he wants to “deepen our economic relationship.” The president of the European Commission, Ursula von der Leyen, said the relationship between Europe and Canada was strong and “growing stronger.” Cryptopolitan Academy: Want to grow your money in 2025? Learn how to do it with DeFi in our upcoming webclass. Save Your Spot