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Updated April 22, 2024

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According to Foresight News, the Singapore High Court has dismissed a liquidation application submitted by U-Zyn Chua, the former Chief Technology Officer of Cake Group. The court ruled that there was no reason to shut down the cryptocurrency company. In addition, Judicial Commissioner Alex Wong stated during the court hearing that seeking liquidation as a quick solution was inappropriate when there were other remedial measures available. This decision underscores the court's commitment to ensuring that businesses have the opportunity to rectify issues before resorting to drastic measures such as liquidation.

According to BlockBeats, Ahmad Shadid, the founder and CEO of io.net, announced on April 25th that hackers have only been able to alter the private names of user devices, without running any new containers on the machines. The company is currently investigating the issue and will implement a fix as soon as possible. This statement comes in response to previous reports of hackers manipulating the names and online statuses of multiple io.net machines via the API, thereby corrupting data. At present, the names and online statuses of several machines have been altered. Shadid reassured users that no new containers have been run on the machines, limiting the potential damage caused by the hackers.

According to Foresight News, Worldcoin is reportedly still in pursuit of partnerships with well-known technology companies, including OpenAI. Bloomberg initially reported this development. However, further details about the potential collaboration or the nature of the partnerships have not been disclosed yet.

According to PANews, blockchain game publisher Xterio has announced a collaboration with BNB Chain to introduce its games to a new Layer 2 blockchain focused on gaming. This blockchain, known as Xterio Chain, will utilize BNB as its fuel token and will enhance the infrastructure of the BNB Chain ecosystem. AltLayer will provide crucial technical support for this initiative.

Earlier this month, it was reported that Xterio had partnered with AltLayer to launch the Layer 2 network, Xterio Chain. This partnership is a significant step in the development of blockchain gaming, as it brings together two major players in the field. The use of BNB as a fuel token will not only strengthen the BNB Chain ecosystem but also provide a solid foundation for the growth and development of the Xterio Chain.

The collaboration between Xterio and BNB Chain is expected to bring about significant advancements in the blockchain gaming industry. With the technical support from AltLayer, the Xterio Chain is set to become a major player in the gaming-focused Layer 2 blockchain space. This partnership is a clear indication of the growing interest and investment in blockchain technology within the gaming industry.

According to PANews, Jebara Igbara, also known as 'Jay Mazini', has been sentenced to seven years in prison by U.S. District Judge Frederic Block for his involvement in multiple cryptocurrency-related fraud cases. In addition to his prison sentence, Igbara has been ordered to forfeit $10 million.

The 28-year-old Igbara executed a Ponzi scheme targeting Muslims through his company, Halal-Capital LLC. He portrayed himself as a successful cryptocurrency millionaire on social media platforms like Instagram, deceiving investors by offering cryptocurrency prices higher than the market rate and sending fabricated wire transfer confirmation images. His fraudulent activities resulted in him swindling at least $8 million.

Igbara pleaded guilty to charges of wire fraud and money laundering in November 2022.

According to BlockBeats, the Starknet Foundation announced on April 25th the initiation of a 'Boost' pilot program. The program is designed to support established teams in launching games on the Starknet mainnet or on application chains settled on the Starknet mainnet. The plan will match the network fees used for games and credit them to the game developers' accounts to support their growth and accelerate their development within the Starknet ecosystem. The credit limit of the plan will be up to $1 million.

Applications for the first batch of 20 games are now open and will last for three weeks. This initiative by the Starknet Foundation is a significant step towards encouraging more game developers to utilize their platform, thereby expanding the Starknet ecosystem. The 'Boost' pilot program not only provides financial support but also fosters a conducive environment for game development on the Starknet mainnet.

According to Foresight News, Paolo Ardoino, the CEO of Tether, has announced on social media that the company is in the process of hiring AI experts. The aim is to form a well-funded team that will focus on local privacy protection models. Further details about the recruitment process or the specific roles and responsibilities of the AI experts within the team were not disclosed in the announcement.

According to Foresight News, Eigenpie, a liquidity re-pledging platform, has announced the launch of an unpledging feature. Following the unpledging process, users will not lose their accumulated EigenLayer and Eigenpie points. However, they will no longer receive related points upon submitting an unpledging request. This development is seen as a significant step for the platform, enhancing user flexibility and control over their assets.

According to PANews, industry insiders have revealed that the US Securities and Exchange Commission (SEC) is anticipated to reject the approval of a spot Ethereum ETF next month. This information was initially reported by Jinshi. The SEC's decision could have significant implications for the cryptocurrency market, particularly for Ethereum, which is the second-largest cryptocurrency by market capitalization. However, the reasons behind the SEC's expected decision have not been disclosed. The SEC has been known to be cautious when it comes to approving ETFs for cryptocurrencies, citing concerns over market manipulation and investor protection. This news comes as the latest development in the ongoing dialogue between the cryptocurrency industry and regulatory bodies. The SEC's stance on cryptocurrency ETFs has been a topic of discussion for some time, with many in the industry advocating for more clarity and regulation. Despite the anticipated rejection, the demand for cryptocurrency ETFs continues to grow, reflecting the increasing interest and investment in the sector. The SEC's decision on the Ethereum ETF will be closely watched by industry participants and could set a precedent for future cryptocurrency ETF applications.

According to Bloomberg, Alejandro Cao de Benós, a resident of Tarragona, Spain, and an IT consultant by profession, is the primary contact for Westerners interested in doing business with North Korea. He serves as a semi-official spokesperson for the regime, acting as a cultural attaché and enthusiast. Cao de Benós is also the founder and overseer of the Korean Friendship Association, a global fan club for North Korea.

In April 2022, American crypto researcher Virgil Griffith was targeted by the FBI. Christopher Emms, a British crypto entrepreneur and member of the British chapter of the Korean Friendship Association, was also targeted for helping to organize a conference. Despite US authorities' best efforts, they have not been able to apprehend a major player. Griffith's sentence is seen as a demonstration of some success, given their inability to achieve much in other areas, according to Christopher Green, a senior Korea consultant.

Cao de Benós, who denies most negative facts about North Korea, admits that capital punishment exists in the country. However, security experts argue that the information shared at the conference was already known to the North Koreans. Pyongyang has reportedly stolen billions of dollars through crypto heists since at least 2017.

The extent to which Cao de Benós is 'wanted' remains unclear. His passport is currently held by Spanish authorities due to an eight-year-old illegal firearms charge. Despite this, Cao de Benós claims that the Americans have withdrawn their extradition request. He remains defiant, stating that his victory in this first battle against the US indicates that he is on the right path and should not falter, regardless of what lies ahead.

On Apr 25, 2024, 10:11 AM(UTC). According to Binance Market Data, Ethereum has dropped below 3,100 USDT and is now trading at 3,099.199951 USDT, with a 4.63% decrease in 24 hours.

According to Foresight News, TreasureDAO has announced the launch of its V1 Treasure Ruby testnet and a new version of its Treasure Portal website. The announcement also included the introduction of a fragment scoring system. In addition, TreasureDAO has established partnerships with EigenLayer, LayerZero, Caldera, and Thirdweb.

Previously in February, as reported by Foresight News, the TreasureDAO community voted to develop the Treasure Chain in the Arbitrum ecosystem. The recent developments mark a significant step forward in TreasureDAO's expansion and technological advancement. The partnerships with EigenLayer, LayerZero, Caldera, and Thirdweb are expected to bring additional resources and expertise to the project.

The launch of the V1 Treasure Ruby testnet and the new Treasure Portal website, along with the fragment scoring system, are expected to enhance the user experience and functionality of the TreasureDAO platform. The development of the Treasure Chain in the Arbitrum ecosystem is a strategic move that aligns with the community's vote and is expected to contribute to the overall growth and success of TreasureDAO.

The global cryptocurrency market cap now stands at $2.45T, up by 0.91% over the last day, according to CoinMarketCap data.

Bitcoin (BTC) has been trading between $63,606 and $66,737 over the past 24 hours. As of 09:30 AM (UTC) today, BTC is trading at $64,022, down by -3.64%.

Most major cryptocurrencies by market cap are trading mixed. Market outperformers include NULS, FARM, and SANTOS, up by 18%, 8%, and 6%, respectively.

Top stories of the day:

Bitcoin Mining Difficulty Hits Record High, According to BTC.com Data

Two On-Chain Metrics Indicate Bitcoin Is Now an Attractive Buy, Analysts Say

Runes Dominate Bitcoin Transactions, Comprising 68% Since Its Launch

OneCoin Participant William Morro Arrested Over Fraudulent Fund Sourcing

Stablecoin Market Value Sees 6.45% Growth in a Month

Morgan Stanley Plans To Introduce Bitcoin ETF To Clients

Bitcoin Spot ETF Trading Volume Data Revealed

Stablecoin Adoption Skyrockets with Nearly 100M Holders Globally, Data Reveals

Robinhood Expands Crypto Trading for SHIB, AVAX, and COMP to New York Residents

Australia Marks New Milestone with Its 1,000th Bitcoin ATM

Market movers:

ETH: $3139.73 (-3.43%)

BNB: $612.3 (+0.29%)

SOL: $146.71 (-6.70%)

XRP: $0.526 (-3.63%)

DOGE: $0.15032 (-6.99%)

ADA: $0.4714 (-5.19%)

SHIB: $0.00002503 (-7.33%)

AVAX: $35.4 (-9.28%)

TRX: $0.11452 (+0.93%)

WBTC: $64071 (-3.69%)

Top gainers on Binance:

NULS/USDT (+18%)

FARM/USDT (+8%)

SANTOS/USDT (+6%)

According to Foresight News, Ethereum's second-layer network Taiko has announced the launch of its latest testnet, Hekla, which is now open to the public. The previous testnet, Katla, will be discontinued on May 10. Hekla introduces EIP-4844 blobs, which are used to initiate compressed DA. Additionally, Hekla adjusts the L2 block Gas issuance to 60 million Gas every 12 seconds, with a limit set to 2.4 billion Gas, and makes adjustments to the EIP-1559 configuration.

Hekla also adopts the same Based Contestable Rollup (BCR) mechanism as Katla, which Taiko will use to launch on the mainnet. Users can normally exchange, use DApp to deploy contracts, run nodes, propose, and prove blocks.

Taiko stated that Katla was originally the last testnet before the mainnet launch, but Hekla allows for thorough testing of the aforementioned additional features and improvements.

According to Foresight News, Aligned Layer, a decentralized zero-knowledge proof verification layer for Ethereum developed based on EigenLayer, has announced the completion of a $20 million Series A funding round. The round was led by Hack VC, with participation from dao5, L2IV, and Nomad Capital.

Aligned Layer plans to launch its mainnet in the second quarter of 2024. As an EigenLayer AVS, Aligned Layer provides Ethereum with a new infrastructure to obtain economically affordable zero-knowledge proof verification for all proof systems.

Previously, on April 15, Foresight News reported that Aligned Layer had completed a $2.6 million seed funding round. The round was led by Lemniscap, with participation from Bankless Ventures, Paper Ventures, StarkWare, O(1)Labs, and angel investors including Sreeram Kannan, Brandon Kase, Daniel Lubarov, DCbuilder, Chainyoda, and Weikeng Chen.

According to an official announcement: Binance is introducing its first Binance Megadrop project, BounceBit (BB), a BTC restaking chain. Participation in the BounceBit Megadrop begins from 2024-04-26 00:00:00 (UTC). The BounceBit Megadrop page is projected to be accessible on the Binance App within the next five hours.

BounceBit (BB) will be listed on Binance at 2024-05-13 10:00 (UTC) with BB/BTC, BB/USDT, BB/BNB, BB/FDUSD, and BB/TRY trading pairs. Further details about BounceBit (BB) can be found in our research report.

Key details related to BounceBit Megadrop:

• BounceBit Megadrop Period: From 2024-04-26 00:00:00 (UTC) to 2024-05-12 23:59:59 (UTC).
• BNB Locked Products Snapshot Period: Users are encouraged to lock their BNB in BNB Locked Products before the start of the event to maximize their Locked BNB Scores.
• Web3 Quest Period: Users can aim to complete the Web3 Quest(s) within this period.
Rewards Distribution: Participants can check their Megadrop rewards in their Binance Spot Wallet.

In a recent incident outlined by a user named bboy1000halos, ETH price decoupling on the Renzo platform led to substantial losses for some investors. On Morpho, liquidations were triggered, resulting in a cumulative loss of 3,626 ETH, equivalent to roughly US$11.37 million.

bboy1000halos explained that they expected the lending situation to withstand a price decoupling of 15% to 20%. However, it was an unexpected shock when ezETH experienced a decoupling of 50%.

As a significant backer of Renzo with an exposure of 22k ezETH (including YT), bboy1000halos inquired about the possibility of receiving additional REZ to assist with the recovery. This incident marks a significant turn in the volatility and inherent risks in the world of cryptocurrency trading.

According to Foresight News, decentralized derivatives trading platform Hyperliquid has announced that it will open access to HIP-1 and HIP-2 for users to deploy without permission on Hyperliquid L1. HIP-1 is the standard for deploying native tokens and on-chain spot order books. HIP-2 will permanently invest liquidity into the spot order book of HIP-1 tokens and synergize with the user's own order book liquidity. In addition, the genesis issue of HIP-1 includes existing HIP-1 tokens as anchors, with a designated portion to be proportionally distributed to the holders of another HIP-1 token.

According to Cointelegraph: Bitcoin (BTC) traded lower on April 25, following a swift reaction to geopolitical news in the Middle East, which resulted in up to a 5% decrease for the bulls. The BTC price now hovers near $64,000.

BTC/USD 1-hour chart. Source: TradingView

According to data from Cointelegraph Markets Pro and TradingView, BTC's price action is attempting to form support at $64,000 before Wall Street's opening.

This decline comes after a drop to around $63,575 at the previous day's closing due to renewed Middle East tensions. Latest statistics from monitoring platform CoinGlass indicate an increased liquidity on both the buy and sell side of the spot price on various crypto exchanges.

Bitcoin liquidation heatmap (screenshot). Source: CoinGlass

Importantly, a substantial volume of sell orders has appeared, beginning with around $75 million at $64,765 and escalating up to $67,700. Comparatively, the local low at $63,500 saw limited buying interest.

Famed trader Daan Crypto Trades underscored the "healthy" state of funding rates, suggesting it as a foundation for a slow but consistent rise in BTC's price going forward.

Spot Bitcoin exchange-traded funds (ETFs) in the United States reverted to net outflows on April 24, mainly driven by withdrawals from Grayscale Bitcoin Trust (GBTC), according to sources including UK-based investment firm Farside.

Bitcoin's sensitivity to geopolitical events and the subsequent impact on price action remind traders of the inherent volatility and risk associated with cryptocurrency investment.