Ethereum could see $850 billion in “new flows” by 2030 if the trend continues, according to Token Terminal. The onchain value of stablecoins on the Ethereum network has reached an all-time high of $180 billion, according to blockchain analytics firm Token Terminal. Ethereum holds 60% of the stablecoin supply at $180 billion, which is up 150% over the past three years, the firm reported Tuesday. The company projected that around $1.7 trillion is expected to come onchain across all networks over the next four years and that Ethereum could see $850 billion in “new flows” by 2030, if it grows 470% in that time. Read more
Lookonchain noted that the “yes” bets were placed at probabilities between 2.9% and 10.3%, with the three wallets placing their first bets within 26 hours of the announcement. Three newly created wallets profited a combined $484,575 on Polymarket betting that the US and Iran would agree to a ceasefire by Tuesday, in the latest event to raise suspicion of insider trading. The wallets were created and funded on Tuesday and had no prior onchain activity before betting on Polymarket’s “US x Iran ceasefire by April 7” market, blockchain data shared by Lookonchain revealed on Wednesday. Polymarket data shows the profits secured by the three wallets were $200,525, $158,600 and $125,450 at the time of writing. Read more
The approval puts Coinbase under Australia’s financial rules as the country formalizes oversight of crypto platforms. Coinbase is planning to expand its offerings in Australia to include derivatives, equities and payments after securing an Australian financial services license (AFSL). John O'Loghlen, regional managing director for APAC at Coinbase, said the Australian financial services license (AFSL) will see the exchange initially offer crypto and equity perpetuals but will open the door for futures, options and other traditional financial products. “We’re going to compete with traditional financial services on stock trading, payments and other TradFi products with the speed and execution of crypto,” O'Loghlen said. Read more
Ethereum analysts said buyers were back in control, but holding the $2,000 support was key to reversing the market structure. Market analysts say Ether (ETH) could be ready for a “regime shift” as buying pressure builds up, but bulls must hold $2,000. Key takeaways: Ether shows resilience above $2,000, as onchain data shows signs of returning demand, suggesting a possible “regime shift”. Read more
The Morgan Stanley Bitcoin Trust will be the cheapest Bitcoin ETF on the market at an ultra-low 0.14% fee. Morgan Stanley’s Bitcoin exchange-traded fund is set to debut on the NYSE Arca stock exchange on Wednesday, making it the first major commercial bank to offer a Bitcoin ETF in the US. The launch of the Morgan Stanley Bitcoin Trust (MSBT) on April 8 was confirmed in a listing notice by the New York Stock Exchange on Tuesday. It would make MSBT the first spot Bitcoin (BTC) ETF product to enter the market in nearly two years, since crypto asset manager Grayscale introduced its Bitcoin Mini Trust ETF in July 2024. Read more
FDIC’s proposed rules providing insurance for corporate deposits of stablecoin issuers will not extend to the stablecoin holders, as it would conflict with the GENIUS Act’s text, the FDIC said. The US Federal Deposit Insurance Corporation (FDIC) has proposed new rules to regulate FDIC-supervised stablecoin issuers in accordance with the Guiding and Establishing National Innovation for US Stablecoins (GENIUS) Act, which was signed into law nine months ago. In a statement on Tuesday, the FDIC said its board of directors voted to issue a proposal that would set reserve, redemption, capital, risk management and custody standards for stablecoin issuers and insured depository institutions under its supervision. The FDIC insures deposits at more than 4,000 financial institutions and supervises over 2,700 banks and savings associations to maintain stability in the US financial system. Read more
Iran's Supreme National Security Council on Wednesday accepted a two-week ceasefire in its war against the US, but emphasized this did not mean an end to the war. The price of Bitcoin pushed past $72,000 for the first time in 20 days after the US and Iran agreed to a two-week ceasefire. “I agree to suspend the bombing and attack of Iran for a period of two weeks,” Trump said in a Truth Social post on Tuesday, hours before his deadline for Iran to reopen the Strait of Hormuz or face military attacks on key infrastructure. Iran's Supreme National Security Council also said it accepted the ceasefire. Read more
The 30-day simple moving average of the global network hashrate has also declined, though an analyst says the slump is due to Bitcoin prices hurting mining profitability rather than conflict. Iran’s hashrate has plummeted over the past quarter amid an ongoing conflict with the US and Israel, though the war itself has not dragged down global hashrate, according to a new report from Hashrate Index. Iran has lost roughly 7 exahashes per second (EH/s) quarter-over-quarter, said Ian Philpot, marketing director at Luxor Technology, in a report published Monday. The country’s hashrate now sits at about 2 EH/s according to the Hashrate Index heatmap. Philpot noted that while the regional conflict clearly impacted Iran, it could have triggered a ripple effect for neighboring countries such as the United Arab Emirates and Oman, yet so far, neither has been affected. Read more
Changpeng Zhao’s memoir recounts Binance’s rapid rise, regulatory scrutiny and prison sentence, offering a first-person account of crypto’s most turbulent era. Changpeng “CZ” Zhao became a household name in the cryptocurrency sector after founding Binance, the world’s largest crypto exchange. Following a series of legal and regulatory challenges that culminated in a prison sentence, Zhao has authored an autobiography recounting his rise — and subsequent fallout. The 364-page manuscript, titled Freedom of Money, presents a first-person account of Zhao’s life and career. The foreword is written by Yi He, a Binance co-founder who has worked with Zhao since 2014. Zhao writes that his story has been shaped by media coverage, court filings and public commentary. He describes the book as an account intended to provide additional context to those narratives. Read more