RaveDAO denies involvement in RAVE token price surge and crash as Binance and Bitget launch investigations into suspected market manipulation. RaveDAO has denied any role in the recent surge and sharp collapse of its RAVE token, as major crypto exchanges open probes into trading activity following allegations of market manipulation. In a thread posted on X, the project said it was “not engaged in, nor responsible for, recent price action,” responding to mounting scrutiny after RAVE soared from roughly $0.25 to nearly $28 within days before plunging more than 80%. The denial comes as onchain investigator ZachXBT accused the project of orchestrating a pump-and-dump scheme, pointing to concentrated token holdings and suspicious exchange flows. He claimed that more than 90% of the token supply may be controlled by insiders, calling on exchanges to take action. Read more
Charles Schwab and Citadel Securities executives have separately aired interest in prediction markets, but each is looking to steer clear of sports offerings. Traditional finance giants Charles Schwab and Citadel Securities are both considering entering prediction markets, with each separately weighing up how they wish to get involved in the fast-growing sector. “I think at some point we likely will have prediction markets,” Rick Wurster, the CEO of the banking and investing titan Schwab, told investors during a call on Thursday. He added that prediction markets weren’t “of tremendous interest” when he recently asked a group of Schwab clients about them, but it was an area the company would “take a hard look at, and it would be quite straightforward for us to offer.” Read more
A federal judge has tossed a class lawsuit over Caitlyn Jenner’s memecoin, saying it did not plausibly allege that the token was an unregistered security. US media personality and former Olympian Caitlyn Jenner has escaped a class-action lawsuit after a federal judge ruled her memecoin was not a security under US law. California federal judge Stanley Blumenfeld Jr. wrote in an order on Thursday that the lawsuit failed to plausibly plead that Caitlyn Jenner (JENNER) tokens were investment contracts, as they didn’t pool investor money or use funds to develop “any related product or technology.” “Defendants stated that ‘[t]he $JENNER token is a memecoin on the Ethereum blockchain intended solely for entertainment purposes,’ and that its value would increase because Jenner would use her fame and influence to promote it, increasing demand,” the order said. Read more
SEC chair Paul Atkins is under fire from Senator Elizabeth Warren, who says he “may have been deliberately trying” to mislead Congress about the agency’s enforcement activity. US Senator Elizabeth Warren has accused Paul Atkins, the head of the Securities and Exchange Commission, of possibly lying to Congress about the agency’s enforcement numbers. Warren, the top Democrat on the Senate Banking Committee, said in a letter to Atkins dated Wednesday that the SEC’s enforcement data for fiscal year 2025, released on April 7, raised “significant concerns” about his answers at a Feb. 12 congressional hearing. “At the hearing, I specifically asked you to comment on publicly available data highlighting a decline in SEC enforcement activity,” Warren said. “In response, you demurred, stating that you were ‘not sure what data’ I was looking at.” Read more
The attack caused a "cross-protocol contagion" that has impacted at least nine crypto protocols, blockchain security firm Cyvers said. Kelp, a liquid restaking protocol, was the victim of a cyber attack on Saturday, causing the platform to pause smart contracts for its restaking token (rsETH), as it “investigates” the attack amid reports of hundreds of millions of dollars in losses. “Earlier today, we identified suspicious cross-chain activity involving rsETH. We have paused rsETH contracts across mainnet and several Layer-2s,” the Kelp platform said in an X post. The attacker exploited the rsETH adapter bridge contract, the software code that manages Kelp’s rsETH token, and drained the platform of about $293 million in funds, according to blockchain security firm Cyvers. Read more
SOL’s steady recovery alongside the wider crypto market has traders debating whether $100 could be the next stop for the altcoin. Key takeaways: Solana maintains its market dominance in DEX volume and TVL despite SOL’s underperformance versus its peers. Easing sell pressure from volatile geopolitics and a resurgence in memecoin activity could catalyze a SOL price rally to $100. Read more
The average block time at publication is about 9.8 minutes, falling slightly short of the 10-minute block target, according to CoinWarz. The Bitcoin (BTC) mining difficulty, the relative challenge of adding new blocks to the BTC blockchain, fell on Saturday, amid public mining companies selling record amounts of BTC to cover operating expenses. The Bitcoin mining difficulty fell to about 135.5 T, a modest decrease of about 1.1% over the last 24 hours, according to data from CoinWarz. Mining difficulty is also projected to increase in the next adjustment period. CoinWarz said: Bitcoin miners have faced mounting challenges over the past year, as reduced block rewards, rising energy prices, a crypto bear market and geopolitical shocks create economic headwinds for miners. Read more