Summary
gm, Bitcoin surged past $94,000 amid easing U.S.-China trade tensions and substantial inflows into Bitcoin ETFs. Spot Bitcoin ETFs experienced a notable $912 million in net inflows on April 22, marking the highest daily investment in over three months. This bullish momentum extended to altcoins, with Ethereum, Solana, and others posting significant gains. Institutional interest in crypto continues to grow, exemplified by Riot Platforms securing a $100 million Bitcoin-backed credit line from Coinbase and SOL Strategies raising $500 million to invest in Solana tokens. Meanwhile, the SEC is set to host a roundtable on crypto custody, signaling ongoing regulatory developments in the sector.

News Headlines
📈 Bitcoin Breaks Into World's Top 5 Largest Assets, Surpassing Google

  • Bitcoin has become the fifth most valuable asset globally, overtaking Alphabet (Google) with a market cap of $1.87 trillion.
  • This milestone comes as Bitcoin's price surged 15% in April, diverging from the Nasdaq 100 index which fell 4.5% during the same period.

🏦 PayPal to Offer 3.7% Yield on PYUSD Stablecoin Balances

  • PayPal plans to provide a 3.7% yield on its PayPal USD (PYUSD) stablecoin, starting this summer to enhance its usage and appeal.
  • Users will be able to earn rewards daily, distributed monthly in PYUSD, which can be exchanged for fiat, spent, or transferred to others.

🌐 Ubisoft Partners with Immutable for Web3 Card Game 'Might & Magic: Fates'

  • Ubisoft is launching Might & Magic: Fates, a free-to-play card game on Ethereum in collaboration with blockchain platform Immutable.
  • The game allows players to collect and trade NFT cards featuring iconic creatures and heroes from the long-standing Might & Magic franchise.

🔗 Symbiotic Raises $29M for Universal Staking Framework

  • Symbiotic has secured $29 million in a Series A funding round to launch a new economic coordination layer enhancing blockchain security through staking.
  • The Universal Staking Framework allows for a modular approach to blockchain security, supporting multiple cryptocurrencies and enabling 'programmable security'.

💼 Coinbase to Hire 130+ Staff in Charlotte Fintech Hub Expansion

  • Coinbase plans to hire over 130 employees in Charlotte, North Carolina, marking a significant expansion into the city's growing fintech sector.
  • The move aims to enhance Coinbase's compliance and customer support capabilities, leveraging Charlotte's emerging status as a key financial and technology center.

Market Metrics

Fundraising & VC
1. Symbiotic (Series A, $29M) - Universal staking protocol
2. Mask (Strategic, $5M) - Decentralized social infrastructure bridging Web2 and Web3
3. NitroDome (Strategic, Undisclosed) - Blockchain gaming platform

On-chain Data
1. Venom (venom) token unlocked today ($8.89M, 3.1%)
2. Radiant Capital (RDNT) token unlocked today ($253.98K, 0.91%)
3. AltLayer (ALT) token unlock in 1 day ($5.57M, 6.04%)
4. Xai (xai) token unlock in 2 days ($2.49M, 3.72%)
5. Grass (GRASS) token unlock in 3 days ($6.23M, 1.35%)

Regulatory
🏛️ Alabama Drops Staking Lawsuit Against Coinbase

  • The Alabama Securities Commission has withdrawn its lawsuit against Coinbase over alleged violations related to staking services.
  • Five out of ten states involved in litigation against Coinbase have now dropped their lawsuits, signaling a potential regulatory shift.

💰 PGI Global Founder Charged in Alleged $200M Crypto Ponzi Scheme

  • The SEC has charged Ramil Palafox, founder of PGI Global, with running a Ponzi-like scheme that defrauded investors of nearly $200 million.
  • This case highlights the SEC's focus on holding individuals accountable for securities fraud in the crypto space.

🌐 Canada Positioned to Lead in Blockchain Innovation

  • Canada is poised to become a leader in blockchain innovation due to its streamlined government structure and historical significance in the space.
  • The country aims to attract global companies, modernize tax regimes, and promote blockchain use within government.

⚖️ Kuwait Cracks Down on Illegal Crypto Mining

  • Kuwait's Ministry of Interior has discovered over 1,000 locations potentially operating illegal crypto mining rigs.
  • Authorities are urging violators to comply with the ban on crypto mining, threatening prosecution for non-compliance.

💼 Russia to Launch Crypto Exchange for Super-Qualified Investors

  • Russia's central bank and finance ministry are set to launch a crypto exchange for super-qualified investors under a three-year experimental regime.
  • This initiative aims to bring crypto operations out of the shadows for a select group of high-net-worth Russian investors.

Technical Analysis
Bitcoin - Bitcoin has broken through the ceiling of a falling trend channel in the short term. This indicates a slower falling rate initially, or the start of a more horizontal development. The currency is testing resistance at points 93000. This could give a negative reaction, but an upward breakthrough of points 93000 means a positive signal. The short term momentum of the currency is strongly positive, with RSI above 70. This indicates increasing optimism among investors and further price increase for Bitcoin. However, particularly for big stocks, high RSI may be a sign that the stock is overbought and that there is a chance of a reaction downwards. The currency is overall assessed as technically slightly negative for the short term.

Ethereum - Ethereum has broken through the ceiling of a falling trend channel in the short term. This indicates a slower falling rate initially, or the start of a more horizontal development. The currency is approaching resistance at 1880 points, which may give a negative reaction. However, a break upwards through 1880 points will be a positive signal. The currency is assessed as technically negative for the short term.

Governance & Code
🏔️ GMX DAO | Establishment of GMX Reserve on Solana (Preliminary Discussion)
- This proposal aims to approve the formal alignment of the newly-acquired GMX tokens on Arbitrum with the GMX-Solana Treasury for strategic deployment on Solana.

👻 Aave DAO | Further Deprecate sUSD on Aave V3 Optimism (Preliminary Discussion)
- This proposal from Chaos Labs aims to take steps to further deprecate Synthetix's sUSD on Aave V3 Optimism in response to recent technical developments that have compromised sUSD's ability to maintain its peg consistently.