Summary
gm, Bitcoin holds steady around $84,000 despite broader market volatility. Solana emerged as a standout performer, surging 6% amid growing institutional interest and potential ETF approvals. Meanwhile, the SEC paused its case against Ripple as settlement talks progress, signaling a potential shift in the regulatory landscape. Coinbase reported a sharp contraction in the crypto market, predicting a possible rebound by late 2025. Additionally, OKX announced its re-entry into the US market following a $505 million settlement with the DOJ, highlighting the ongoing evolution of crypto exchanges in response to regulatory challenges.

News Headlines
⚠️ Mantra's TVL Jumps 500% as OM Price Collapses

  • Mantra's TVL surged 500% to 4.21 million OM ($3.24 million) despite 90% drop in OM's price.
  • 97% of TVL increase attributed to Mantra Swap, raising concerns about capital concentration.

💳 Solayer Launches Crypto Rewards Visa Debit Card

  • Solayer's Emerald Card is set to be available in over 100 countries, including US.
  • The card offers crypto rewards, airdrops, and staking access.

🔐 WalletConnect Director Emphasizes Importance of Self-Custody Tools

  • Marco Santori, Director at WalletConnect Foundation, stresses the need for tools showcasing self-custody effectiveness.
  • WalletConnect aims to improve adoption through user-friendly setup.

⛏️ Bitdeer Shifts Focus to Self-Mining Bitcoin and US Operations

  • Bitdeer is prioritizing self-mining amid fluctuating crypto markets and tariff proposals.
  • The company plans to expand US production later this year.

🎮 Wolf Game Halted After Solana Relaunch Prompts Backlash

  • Players criticize new mechanics in Wolf Game 2.0, claiming undermined progress.
  • CEO GFunk resigned and game developers are in discussions with Farmhands Council.

Market Metrics

Fundraising & VC
1. Auradine (Series C, $153M) - Web infrastructure for Blockchain and AI
2. World Liberty Financial  (Undisclosed, $25M) - DeFi platform
3, Resolv (Seed, $10M) - Crypto recovery software
4. Glider (Undisclosed, $4M) - Automated crypto portfolio management
5. Rakurai (Seed, $3M) - High TPS, high yield staking on Solana

On-chain Data
1. Official Trump (TRUMP) token unlocked today ($315M, 20%)
2. ApeCoin (APE) token unlocked today ($6.59M, 1.95%)
3. Melania Meme (MELANIA) token unlock in 1 day ($10.93M, 4.85%)
4. Safe (SAFE) token unlock in 3 days ($4.58M, 1.98%)
5. Space ID (ID) token unlock in 5 days ($2.29M, 1.28%)

Regulatory
🏛️ SEC Probes Coinbase-Circle USDC Revenue Split

  • The SEC has been investigating the revenue-sharing arrangement between Coinbase and Circle for USDC since 2023.
  • Coinbase earned $910 million in stablecoin revenue in 2024, a 33% increase from the previous year.

💼 SEC to Discuss Crypto Custody with Industry Insiders

  • The SEC will hold a roundtable on April 25 to discuss cryptocurrency custody with representatives from firms like Kraken, Exodus, and Anchorage Digital.
  • The agenda includes talks on broker-dealers and investment firm custody.

🌆 Panama City to Accept Crypto for Public Services

  • Panama City will allow citizens to pay for taxes, tickets, permits, and fees using Bitcoin, Ethereum, and stablecoins.
  • The local government has partnered with a bank to facilitate these transactions.

🔐 A16z Urges SEC to Update Crypto Custody Rules

  • Andreessen Horowitz has called on the SEC to revise regulations for digital asset custody by registered investment advisers.
  • The firm argues for allowing RIAs to hold crypto assets directly under specific safeguards.

🚫 Ethena Exits German Market After BaFin Concerns

  • Ethena Labs is ceasing operations in Germany after regulators flagged compliance issues with its USDe stablecoin.
  • The company will not pursue authorization under EU's MiCAR regulation.

Technical Analysis
Bitcoin - Bitcoin has broken the ceiling of the falling trend in the short term, which indicates a slower initial falling rate. The currency is testing resistance at points 84500. This could give a negative reaction, but an upward breakthrough of points 84500 means a positive signal. The RSI curve shows a rising trend, which could be an early signal of the start of a rising trend for the price as well. The currency is overall assessed as technically slightly negative for the short term.

Ethereum - Ethereum is in a falling trend channel in the short term. Falling trends indicate that the currency experiences negative development and falling buy interest among investors. The currency is approaching resistance at 1640 points, which may give a negative reaction. However, a break upwards through 1640 points will be a positive signal. The currency is assessed as technically negative for the short term.

Governance & Code
💰 Yearn DAO | Swap for yCRV to Assist Peg (Preliminary Discussion)
- This proposal aims to encourage users to swap their CRV for yCRV on the Curve DEX, instead of zapping in and minting the yCRV, with the intention of absorbing some of the excess yCRV in the LP to create demand to lift the peg closer to 1:1.

⭐ Stargate Finance DAO | A Comprehensive Governance Dashboard for Stargate
- This proposal seeks $10,000 in funding to develop a comprehensive governance analytics dashboard for Stargate, named Gov Navigator.