The cryptocurrency derivatives trading platform Liquid has completed $18 million in Series A financing, led by Neo and Left Lane Capital, with participation from Haun Ventures, K5 Global, SV Angel, AntiFund, and Sunflower Capital. Liquid was founded by former Two Sigma quantitative researcher Franklyn Wang and was initially positioned as a cryptocurrency perpetual contract aggregation platform. It has now expanded to stocks, cryptocurrencies, foreign exchange, Polymarket positions, and the secondary market for equity in Pre-IPO companies, offering up to 200x leverage in some jurisdictions. Reports indicate that as platforms like Coinbase and Robinhood simultaneously extend into non-crypto assets, Liquid aims to create a universal leverage exchange with a unified interface to cover retail trading needs for multiple types of risk assets.
Galaxy Digital's Q1 2026 financial report indicates that the company's net loss for the quarter was $216 million, impacted by a decline in digital asset market prices. The diluted and adjusted loss per share was $0.49, and the adjusted gross loss for the same period was $88 million, with an adjusted EBITDA loss of $188 million. As of March 31, Galaxy Digital's total equity was $2.8 billion, with cash and stablecoin holdings of $2.6 billion. In terms of digital asset business, Galaxy's digital asset-related scale reached $5 billion, with staked digital assets of $3.2 billion. BlackRock has selected Galaxy as the validator for its Staked Ethereum Trust ETF. In addition, Galaxy delivered the first data hall of the Helios data center to CoreWeave and officially began revenue recognition, with the first phase of 133 megawatt critical IT load delivery expected to be completed by the end of Q2 2026.
US CFTC to use AI to review US crypto registration applications and monitor trading data
Mike Selig, chairman of the U.S. Commodity Futures Trading Commission (CFTC), stated that the agency is developing artificial intelligence tools to review registration applications from market participants, including those in crypto, and to assist in market regulation. In a process that still primarily relies on manual material submission, AI will automatically identify applications with informational gaps, insufficient descriptions, or obvious errors to reject or delay them, while marking key content for staff review. The CFTC is training employees to use Microsoft Copilot and has developed its internal tools for analyzing swap data and conducting market supervision. Selig noted that building upon the "classification guidance" released in conjunction with the SEC, the CFTC will strengthen law enforcement against fraud, manipulation, and insider trading in the crypto market and take action against participants suspected of abusing insider information in prediction markets.
Coinbase to launch Pharos (PROS) spot trading and PROS-USD trading pair
Coinbase has announced that it will launch Pharos (PROS) spot trading on April 28, with the PROS-USD trading pair to start later the same day in supported trading regions, subject to meeting liquidity conditions.
State Street to launch tokenized fund services in Luxembourg by the end of the year
Custodian giant State Street plans to launch tokenized fund services in Luxembourg through its State Street Investment Services by the end of 2026 at the latest. This will extend existing fund management, custody, and registration agency functions onto the blockchain. The service will operate through its Digital Asset Platform, supporting both tokenized and traditional funds under a unified operational model, and providing infrastructure for the full lifecycle including issuance, management, and custody, allowing clients to operate and manage risk in a single interface.
Stablecoin issuer Tether is collaborating with Bitcoin mining manufacturer Canaan and ACME Swisstech to develop a new modular Bitcoin mining infrastructure. The system focuses on application-specific computing boards to separate computing power, power supply, and chassis structure, with Tether integrating its own control architecture, cooling, and software stack, utilizing immersion cooling to reduce energy consumption and operational costs while enhancing availability. Tether has also recently disclosed investment in mining finance company Antalpha and is open-sourcing its self-developed Bitcoin Mining OS.
Polymarket seeks CFTC approval to introduce its main trading platform to the U.S.
Prediction market platform Polymarket is seeking permission from the U.S. Commodity Futures Trading Commission (CFTC) to bring its main exchange operations to the U.S. market.
Fidelity deposits nearly 20,000 Ethereum into Coinbase about 30 minutes ago
Asset management firm Fidelity deposited 19,934 ETH into Coinbase about 30 minutes ago, corresponding to a value of approximately $45.29 million.
Matrixport-associated whale adds 30,000 ETH long position with 15x leverage in the last hour
A whale that previously profited over $59 million through Matrixport has opened another long position in ETH. In the last hour, this address increased its long position by 30,000 ETH with approximately 15x leverage, with a notional value of about $68 million. Currently, this whale holds a total of about 58,000 ETH across three wallets with 15-20x leveraged long positions, with a notional size of about $132 million.
Coinbase to launch Virtuals Protocol (VIRTUAL) spot trading
Coinbase plans to launch Virtuals Protocol (VIRTUAL) spot trading on April 29, with the VIRTUAL-USD trading pair expected to open in supported regions at or after 9 AM Pacific Time, provided liquidity conditions are met.
The RWA yield platform Nuva Digital has completed $5.2 million in seed round financing, led by Morgan Creek Digital, with participation from Ulu Ventures, aimed at building its RWA yield platform Nuva Finance. Nuva is incubated jointly by Animoca Brands and Nuva Labs, positioned as a self-custody RWA market connecting asset issuers with users, allowing users to earn nvAsset tokens that represent shares after depositing USDC, with returns reflected in token prices. The first products to be offered will be nuYLDS and nuHELOCs based on Figure Technologies’ on-chain assets, corresponding to the SEC-registered income-generating stablecoin YLDS and the over $16 billion issued home equity loan assets. Nuva also plans to issue a functional token NUVA in the future, with details on platform and token launch time yet to be disclosed.
A certain Ethereum ICO address transfers 10,000 ETH for the first time after holding for 10 years
An address that participated in the Ethereum ICO in 2015 and obtained 10,000 ETH transferred these funds for the first time five minutes ago, moving them to address 0xCD59. The ICO price for ETH was $0.311, meaning that the 10,000 ETH was worth $3,110 at the time, while its current value is $22.88 million.
Coinbase adds Gensyn (AI) to its listing roadmap
Coinbase has announced that it will add Gensyn (AI) to its listing roadmap, with the asset’s launch depending on market support and whether the technical infrastructure is in place. The specific launch time will be announced after meeting relevant conditions.
Pump.fun announced on the X platform that it has burned all previously repurchased PUMP tokens, worth approximately $370 million, accounting for about 36% of the circulating supply. At the same time, Pump.fun has initiated a one-year programmatic buyback and burn plan, allocating 50% of future revenues for purchasing PUMP tokens on the open market and immediately burning them. The buyback and burn process will be automatically executed through an irreversible locked smart contract. Pump.fun stated that previously, for about nine months, the platform had used 100% of its revenue for buybacks, but lack of transparency led to insufficient community trust. After this adjustment, the remaining 50% of revenues will be used for operations, growth, and strategic investments, including recruitment, new product development, and marketing, with the goal of ensuring the long-term sustainability of Pump.fun.
LayerZero Labs commits to provide over 10,000 ETH to DeFi United rescue efforts
LayerZero Labs has announced its commitment to provide more than 10,000 ETH to the DeFi United rescue efforts led by Aave. This includes a donation of 5,000 ETH and an additional deposit of 5,000 ETH to enhance Aave market liquidity while strategically deepening GHO liquidity.
Bitmine re-stakes nearly 108,000 ETH, total staked value rises to $8.98 billion
Bitmine staked 107,992 ETH two hours ago, valued at $24.8 million. Currently, its cumulative staked ETH total is 3,923,389, valued at $8.98 billion.
US CFTC sues Wisconsin, escalating federal and state-level prediction market regulatory conflicts
The U.S. Commodity Futures Trading Commission (CFTC) has sued Wisconsin Governor Tony Evers, Attorney General Joshua Kaul, and the head of the gaming department John Dillett in federal court in Wisconsin. This is the fifth state that the CFTC has sued in a month, following lawsuits against Illinois, Arizona, Connecticut, and New York. The CFTC again claims its "exclusive jurisdiction" over prediction markets, stating that Wisconsin's designation of markets subject to federal regulation as criminal offenses violates the federal regulatory system designed by Congress. Last week, Wisconsin filed a lawsuit against Coinbase, Robinhood, Crypto.com, Polymarket, and Kalshi, alleging that their sports event contracts cause "public nuisance." Last week, the attorneys general of 37 states jointly submitted an amicus brief to support state-level regulatory authority over prediction markets.
Robinhood Q1 cryptocurrency revenue and trading volume both decline by nearly 50%
Robinhood's Q1 cryptocurrency revenue was $134 million, with nominal trading volume in its app of $24 billion, down 47% and 48% year-on-year, respectively. Robinhood stated that its Ethereum Layer 2 blockchain has processed over 100 million transactions. The company's overall trading revenue grew 7% year-on-year to $623 million, mainly driven by a 320% increase in event contract revenue. Robinhood's options revenue was $260 million, up 8%; stock revenue was $82 million, up 46%. The company's net profit was $346 million, a year-on-year increase of 3%. Robinhood's stock price fell more than 6% in after-hours trading to $76.99.
Bitwise CIO: Strategy-driven Bitcoin rally may "last for a while"
Bitwise Chief Investment Officer Matt Hougan stated that the perpetual preferred stock STRC issued by Strategy is a major driving factor behind Bitcoin’s recent rebound, and the rally may "last for a while." Hougan pointed out that Bitcoin has rebounded about 20% from its February low to $76,000, and ETFs have purchased $3.8 billion since March 1, with long-term holders also resuming purchases. However, Strategy is the largest single factor, having added $7.2 billion in Bitcoin over the past eight weeks. STRC currently has an annual yield of approximately 11.5%, and Hougan expects Strategy to raise tens of billions more through STRC to buy more Bitcoin. Last week, Strategy bought 3,273 Bitcoin for approximately $255 million, increasing its total holding to 818,300 Bitcoin.
U.S. Senator Cynthia Lummis responded to concerns regarding the developer protection clauses in the CLARITY Act, stating that she is working to refine these clauses. She added that she is dedicated to ensuring the safety of non-funds transfer developers while holding wrongdoers accountable.
Billionaire Paul Tudor Jones: Bitcoin is the "best inflation hedge", U.S. stock market is overvalued
Billionaire investor Paul Tudor Jones stated that Bitcoin is a stronger inflation hedge than gold due to its fixed supply. He warned that the U.S. stock market is overvalued, and the current S&P 500 valuation implies negative returns over the next decade. He pointed out that the U.S. stock market valuation relative to GDP is approaching extremes similar to those during the 2000 internet bubble. Jones believes a significant stock market correction could lead to capital gains tax revenues falling to zero, exacerbating the budget deficit and impacting the bond market.
The Bitcoin Coinbase premium index turned negative for the first time in three weeks, at -0.008, indicating a significant weakening in demand in the U.S. spot market. CryptoQuant analyst Darkfost reported that the seven-day average realized loss for Bitcoin has reached $829 million weekly, while realized profits amount to $566 million. Net realized profits briefly turned positive on April 9 but reversed again within two weeks. Darkfost also noted that on-chain data shows profit supply constitutes 64%, which does not meet historical levels that support sustained growth. Trader Ardi observed that Bitcoin has broken below the trendline support and the liquidity area at $77,300, with market attention now focused on the key support range of $74,500 to $75,500. Analyst Amr Taha pointed out that there was a net outflow of $828 million in proactive orders on Binance, hitting the lowest level since the end of March, with the proactive buying/selling ratio dropping to 0.89. Taha believes that the current readings are more indicative of short-term capitulation selling rather than a larger trend collapse.
Bloomberg analyst: Prediction market ETFs expected to launch next week
Bloomberg ETF analyst James Seyffart posted on the X platform that prediction market ETFs are expected to launch next week. Documents submitted by Roundhill show an effective date of May 5. The first batch of prediction market ETFs will allow betting on whether the Democrats or Republicans will gain control of the House or Senate. Seyffart anticipates that other issuers like Bitwise and GraniteShares will also submit similar documents soon and possibly launch around the same date.
Former PayPal president launches a new Bitcoin wallet supporting AI agent trading
Former PayPal president and Lightspark CEO David Marcus is launching a new Bitcoin wallet that allows AI agents to purchase Bitcoin and send and receive funds.
French-Argentinian citizen Maximilien de Hoop Cartier was sentenced to eight years in prison for operating an unlicensed cryptocurrency exchange and laundering over $470 million through shell companies and crypto accounts. Cartier ran an over-the-counter cryptocurrency exchange since 2018, controlling a large network of American shell companies, falsely claiming to banks that his business was software publishing and development, while actually converting cryptocurrency into hard currency and transferring it to criminal organizations in Colombia and other countries. Cartier admitted to operating an unlicensed remittance business and acknowledged false reporting on the nature of his business to banks. After his accounts were seized in 2021, Cartier provided federal agents with forged records, falsely claiming he was applying for a remittance license, which led to some of the seized funds being returned. Cartier was also ordered to forfeit approximately $2.36 million in commissions and related shell company accounts.
According to the Q2 2026 "Charting Crypto" report jointly released by Coinbase Institutional and Glassnode, the current financial markets are primarily driven by macro events and developments in the Middle East conflict, making short-term directions hard to predict. The report expresses a cautiously optimistic outlook for the market, believing that the macro environment may have turned positive, which could help cryptocurrency assets form a bottom and recover later in this quarter. Data shows that Bitcoin market sentiment has rebounded from the "fear" stage in the first quarter to the "optimism" stage, with about three-quarters of institutional respondents (75%) and non-institutional respondents (71%) believing that Bitcoin is undervalued. For Ethereum, short-term supply (tokens held for less than three months) decreased by 38% in the first quarter, while long-term supply (tokens held for over a year) increased by 1%, indicating that some speculative players may have been cleared from the market.
Coinbase adds Citrea (CTR) to its listing roadmap
Coinbase announced that it has added Citrea (CTR) to its listing roadmap, with the asset’s trading launch still dependent on market support and whether the technical infrastructure is in place. The specific launch time will be announced after meeting relevant conditions.
The Over Foundation announced that due to a funding shortfall, it has halted all infrastructure and related services for Over Protocol, including OverWallet, OverNode, OverFlex, RPC endpoints, block explorers, and APIs, with no plans for restoration. The foundation stated that although Over Protocol was designed as a decentralized Layer 1 mainnet, as its services terminate, the chain will most likely be unable to continue operating in practice. The continued generation of blocks depends on whether independent validators run open-source client software, and the foundation cannot guide or guarantee this outcome.
The YieldCore-3rd-deal vault of the Trading Protocol was reportedly attacked, with losses amounting to about $398,000. The vulnerability was due to a lack of caller authorization checks, which the attacker exploited to transfer all funds out of the vault.
The Canadian federal government plans to ban cryptocurrency ATMs to combat fraud
The Canadian federal government plans to ban cryptocurrency ATMs to prevent scammers from using these machines to defraud Canadians. The Liberal government's spring economic update noted that cryptocurrency ATMs are a "primary means by which scammers defraud victims and criminals deposit cash obtained from crime." A CBC investigation from last year found that these machines have become a major tool for scammers to extract funds from Canadian victims, and an analysis by the Financial Transactions and Reports Analysis Centre of Canada in February 2023 reached the same conclusion. Canada currently has the highest number of cryptocurrency ATMs per capita in the world (almost 4,000), but there are no specific regulations for the industry.
Eric Trump, the son of Trump, promotes his Bitcoin company American Bitcoin as a "money printer," but it is actually an arbitrage tool that exploits MAGA investor sentiment. The company exaggerates its marketing to attract investors, using the premium effect of the Trump brand to issue stocks at inflated valuations, cashing out, and then purchasing Bitcoin, while ordinary investors suffer heavy losses. Since going public in September, the company has sold about 158 million shares, raising approximately $351 million, and purchased Bitcoin valued at around $390 million. The company claims its mining costs are about $58,000, but when accounting for equipment depreciation and other expenses, the actual total cost is about $90,000, exceeding the current Bitcoin price. The company faces risks from its mining machine financing agreements; if Bitcoin prices do not rebound, all the mined Bitcoin may be used to pay for equipment. The company actually only has two full-time employees, and its stock price has fallen 92% from peak values, with estimated losses for investors around $500 million. Eric Trump’s personal wealth has increased from about $190 million to $280 million. In response, Eric Trump stated on the X platform that "Forbes has become a political weapon and a disgrace to journalism." He mentioned that American Bitcoin has been around for just over a year, listed for 7 months and 25 days, currently holds over 7,000 Bitcoin, is the 16th largest publicly listed Bitcoin company globally, and has nearly 90,000 mining machines with a 28 EH/s hash rate. The company's Bitcoin on its balance sheet grew by 58% in the fourth quarter, with mining costs at a 53% discount to market prices, and quarterly revenue of $78.3 million, increasing by 22% quarter-on-quarter. Eric Trump also called on readers to judge the information sources for themselves.
A newly created wallet received 25,000 ETH ($57.13 million) from BitGo, possibly belonging to Bitmine.
Tropykus announces phased shutdown of current version, front-end support will end after July 27
The Bitcoin lending protocol Tropykus announced on the X platform that due to an inability to meet future safety standards with its technical architecture, Tropykus will initiate a phased shutdown process for its current version. Users must repay loans and withdraw funds by July 27, 2026; afterwards, front-end support will terminate, and operating smart contracts will require technical knowledge. Withdrawal of funds from smart contracts has been opened, while deposits and loans have been permanently suspended.
AI Early Insights
Selected AI news worth paying attention to from the last 24 hours to help filter AI noise. Source: PANews AI Observation Room
Claude now supports connections to creative tools like Blender
Anthropic has introduced a creative tool connector for Claude, allowing integration with over 50 different software, including Adobe, Blender, and Ableton, enabling users to perform complex operations like 3D modeling and audio editing through natural language. This move signifies Anthropic's accelerated penetration into the creative industry.
OpenAI's performance short of expectations raises market concerns
The WSJ reports that OpenAI's performance fell short of expectations. On the same day, AWS began listing OpenAI's new products—including new agent services. This confirms a trend: OpenAI is shifting from "belief-driven" to "cash flow-driven." Just two days after the Microsoft exclusivity was lifted, AWS is rushing to distribute products, indicating that OpenAI urgently needs multiple revenue channels. However, if its core subscription growth is lacking, how much this distribution partnership can fill the gap remains questionable.
VibeVoice: Microsoft open-sources cutting-edge voice AI model
Microsoft has open-sourced VibeVoice, a speech-to-text model similar to Whisper, which includes speaker separation features. The original model size is 17.3GB, and a 4-bit quantization version is available for local running on Mac.
NVIDIA releases Nemotron 3 Nano Omni multimodal model, improving reasoning efficiency by 9 times
NVIDIA has launched the Nemotron 3 Nano Omni open-source multimodal model, which integrates visual, speech, and language capabilities into a single system, avoiding time and context loss when AI agents transfer data between multiple models. This model has been launched on Amazon SageMaker JumpStart.
OpenAI has introduced a low-cost subscription strategy for ChatGPT Go, aiming to reach 112 million users by 2026. At the same time, it has entered a strategic partnership with Oracle to optimize cloud infrastructure. SoftBank is advancing a $500 billion AI data center project, and Google is investing $15 billion to build an AI center in India.
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