Crypto World
Russia Advances Crypto Bill; Signals Shift Toward Criminal Penalties
Russia’s lower house advanced a core digital-currency framework in a first reading on Tuesday, signaling a shift toward a regulated, state-supervised market for crypto activity. The draft law 1194918-8, titled “On Digital Currency and Digital Rights,” would begin to channel crypto trading through licensed intermediaries operating under the Bank of Russia’s oversight, with unlicensed platforms to face a ban in 2027 if enacted. According to official records cited by Cointelegraph, the measure aims to formalize a pathway for crypto commerce while preserving a prohibition on crypto payments within the domestic economy.
Alongside bill 1194918-8, another measure — 1194929-8 — passed its first reading on the same day as part of a broader legislative package aimed at restricting crypto trading to regulated venues. The two drafts together signal Moscow’s intent to move the market toward a licensed, state-supervised structure, even as important enforcement provisions remain unresolved. The Supreme Court weighed in separately on related criminalization efforts, underscoring a recognition that the full regulatory architecture has yet to be adopted.
Key takeaways
- Bill 1194918-8 would legalize crypto purchases and sales through approved intermediaries under Bank of Russia supervision, with the domestic market expected to operate within licensed channels as early as July; unlicensed platforms would be banned starting in July 2027 if the draft becomes law.
- Retail investors would face a framework that restricts access to the most liquid digital currencies defined by the central bank, subject to thresholds on market size, trading history, and a personal investment cap.
- The proposed thresholds require assets to demonstrate an average market capitalization above 5 trillion rubles, an average daily trading volume above 1 trillion rubles, and a trading history of at least five years over the two years preceding listing.
- Retail purchases would be limited to 300,000 rubles per year per intermediary, and a test would be required for retail investors seeking exposure to the restricted set of currencies.
- Residents would be allowed to buy crypto abroad through foreign accounts, provided those transactions are reported to tax authorities; the regime retains a strict prohibition on domestic crypto payments, in line with the 2021 law On Digital Financial Assets.
- Two criminal-penalty proposals, bills 1194944-8 and 1209607-8, seek liability and enforcement measures for unregistered digital-asset services, including registration requirements with the Bank of Russia; the Supreme Court characterized the latter as premature until a broader federal framework is adopted.
Russia’s regulatory architecture: licensing, oversight, and the path to licensure
According to official records cited by Cointelegraph, the core instrument of the package creates a system whereby domestic crypto activity would be funneled through intermediaries that meet regulatory and oversight criteria established by the Bank of Russia. The emphasis on licensing aligns with an overarching policy objective: to reduce unregulated trading and to bring digital-asset activity into a state-supervised framework. The bills explicitly couple the licensing regime with a prohibition on unregistered venues, signaling a centralized approach to market access and participant eligibility.
The two draft measures form part of a broader, multi-bill package described by lawmakers as a comprehensive effort to regulate digital assets in Russia. One companion bill, 1194929-8, passed its first reading concurrently, reinforcing the government’s intent to coordinate licensing, supervision, and compliance across the sector. While the legislative package appears to be advancing in principle, several critical enforcement provisions remain unsettled, raising questions about how the rules would be implemented, monitored, and adjudicated in practice.
Retail investor framework and market implications
The outlined retail framework introduces a calibrated approach to household participation in digital assets. By designating a subset of assets as eligible for retail investment — the “most liquid digital currencies” defined by the Bank of Russia — the regime seeks to balance investor access with risk controls tailored to the domestic market’s maturity. The proposed criteria, including a market-cap threshold, a minimum trading history, and a volumetric requirement, establish a screening mechanism intended to shield participants from assets with insufficient liquidity or longer track records.
From a compliance perspective, the regime implies measurable steps for exchanges and banks that participate in the licensed market. Intermediaries would be responsible for validating asset eligibility, enforcing investment caps, and conducting the investor-test process. A yearly cap of 300,000 rubles per intermediary places a ceiling on retail exposure, potentially affecting demand for certain assets and shaping the speed at which market participants, especially retail investors, can accumulate positions. For residents, the option to purchase crypto via foreign accounts—so long as transactions are reported to tax authorities—introduces a cross-border element that will require robust cross-border AML/KYC controls and tax reporting interoperability with domestic authorities.
Importantly, the regime preserves a strict prohibition on crypto payments within the domestic economy. That clause, anchored in the 2021 law On Digital Financial Assets, remains a core constraint on how digital currencies can function in everyday transactions. Analysts note that while the licensing pathway could usher digital-asset activity into a regulated frame, it could also push a portion of activity into the gray market if participants perceive the compliance burden as onerous or if access to eligible assets is perceived as limited. The enforcement gap highlighted by industry observers underscores a perennial regulatory risk: the balance between formalization and practicable compliance in a shifting market environment.
Enforcement considerations and judicial posture
Beyond the licensing framework, lawmakers introduced two criminal-penalty measures to address violations of the new rules, including unregistered digital-asset services and broader registration mandates with the Bank of Russia. The text of the measures suggests penalties that would carry fines and prison terms for non-compliance. However, the judiciary’s position nuanced the immediate path forward. In a formal review, the Supreme Court stated that the proposed criminal article is premature because it presupposes a federal framework that has not yet been adopted. The court’s language underscored a central regulatory reality: the enforcement architecture depends on the completion and adoption of the broader digital-currency statute that the government is still developing.
The court’s assessment—that “the proposed article is drafted as a blanket provision, the application of which is not possible in isolation from rules directly established by regulatory acts”—highlights the interdependence of legal instruments within Russia’s evolving framework. In practice, this means that while the lower chamber’s first-reading votes indicate political appetite for constraint and oversight, the concrete enforcement pathways will crystallize only as the federal law matures and corresponding regulatory acts are issued. As noted by observers, this sequencing can create transitional risks for licensed intermediaries and for institutions seeking to align operations with anticipated standards.
Context, risks, and policy implications
Russia’s direction mirrors a broader global shift toward centralized oversight of digital-asset markets, but the approach remains distinctly domestic in its design and implementation. The move to restrict trading to regulated intermediaries, the emphasis on BoR-defined asset liquidity, and the cross-border reporting provisions together create a regulatory skeleton that would govern market access, investor participation, and supervisory responsibilities. While advancing the policy objective of reducing illicit or unregistered activity, the package raises questions about its practical effects on market liquidity, innovation, and cross-border activity, as well as on the sector’s recovery trajectory from prior shocks and hacks that have affected confidence in domestic platforms.
From a compliance and institutional perspective, the bills’ framework could necessitate significant adjustments by exchanges, custodians, banks, and financial-service providers that facilitate crypto activity. Licensing criteria, ongoing reporting obligations, and the proposed investor-protection tests would require robust onboarding controls, audit trails, and regulatory coordination with the Bank of Russia and tax authorities. In a broader policy context, the measures sit alongside ongoing international dialogue about crypto regulation, including contrasting approaches with global frameworks such as the European Union’s MiCA, and with U.S. authorities’ enforcement regimes coordinated by agencies like the SEC, CFTC, and DOJ. While direct interoperability with MiCA is not implied in the Russian texts, the emphasis on licensing, supervision, and compliance structures situates Russia within a growing cohort of jurisdictions pursuing formalized market governance for digital assets.
Experts have cautioned that overly stringent limits or a slow legislative process could incentivize activity to migrate underground or to unregulated actors, potentially undermining the stated objective of protection and oversight. The current readings illustrate a cautious, staged approach: formalizing licensed venues, clarifying investor eligibility, and reserving the question of enforcement for a subsequent phase as the federal framework materializes. The practical implication for market participants is the need to monitor not only the bills’ text but also the regulatory guidance and licensing criteria that will define who qualifies as an intermediary and how asset eligibility will be operationalized in real markets.
Closing perspective
Tuesday’s first-reading votes mark an important milestone in Russia’s ongoing attempt to structure its digital-asset market around licensed, state-supervised channels, while acknowledging that the legal architecture remains incomplete. The coming sessions will determine whether these measures solidify into law and how enforcement rules will be harmonized with the evolving federal framework. For institutions, exchanges, and banks, the immediate implication is heightened attention to licensing pathways, compliance readiness, and cross-border reporting obligations as Russia charts a course toward a regulated but evolving digital-currency environment.
Crypto World
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Crypto World
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Crypto World
Best Crypto to Buy Now: Bittensor (TAO) Lands Institutional Push, Uniswap Ships AI Platform, and Pepeto Eyes 268x
The best crypto to buy now does not sit and wait for macro clarity, and this week proved it again. Barry Silbert publicly flagged “a meaningful step forward for institutional participation in Bittensor” on April 20 per Coinpedia, Uniswap Labs rolled out its full Developer Platform with an AI toolkit days earlier, and Bitcoin broke past $76,000 on April 21 as U.S. Iran talks turned constructive per TradingKey.
While large caps ride institutional signals and protocol catalysts, Pepeto quietly cleared $9.29 million raised with a confirmed Binance listing and every tool already running on mainnet. The gap between those two stories is where smart capital is already positioning.
Barry Silbert posted publicly on April 20 that a new structure for Bittensor subnet tokens marks “a big moment” and “a meaningful step forward for institutional participation,” per Coinpedia. The Bittensor subnet ecosystem now sits near $1.5 billion in cumulative value, and Q1 2026 network revenue printed $43 million per CCN.
Uniswap’s Developer Platform landed in the same window with AI native tools, new liquidity provider endpoints, and revamped documentation. Bitcoin then broke $76,000 on April 21, and that move triggered $217 million in total liquidations with short positions alone accounting for $140 million per TradingKey. A confirmed Binance listing on an audited presale rewrites portfolios faster than either institutional signal or exchange product launch.
Top Entries Today and Where the Biggest Returns of This Cycle Are Being Set
Pepeto: A Live Exchange Running While Most Platforms Ship Roadmaps
Most crypto projects market clarity and ship noise. Pepeto, considered the best crypto to buy now, does the opposite. The exchange is operating right now, the signals actually guard wallets, and nothing sits parked behind a future release date. Presale holders are already routing trades through real market conditions rather than test environments.
PepetoSwap clears every rotation with no fee taken, so nothing gets skimmed on the way out. Assets move between Ethereum, BNB Chain, and Solana through the multi chain bridge with zero gas cost. Before any token lists on the platform, the contract screener checks every line for exploit triggers and drain patterns, and SolidProof verified the full codebase.
Former Binance leadership engineered the exchange side, and the cofounder who took the original Pepe coin to an $11 billion cap without any product behind it leads the token build.
The 268x projection runs from $0.0000001865, staking pays 179% APY compounded every day, and the Binance listing narrows from “coming” into “imminent.” This is where a single listing event reshapes what a small entry does across the rest of the cycle, and $9.29 million of verified capital already sits inside.
Bittensor (TAO) Price at $247 as Grayscale Lifts AI Fund Weighting to 43%
Bittensor (TAO) trades near $247 per CoinMarketCap, holding its $247 support zone after a 20% reset linked to Covenant AI’s April 16 exit. Grayscale raised TAO weighting to 43.06% in its AI Fund, the firm’s largest single asset reallocation on record per CoinGecko.
Q1 2026 network revenue hit $43 million, and Grayscale plus Bitwise filed Spot TAO ETF applications on April 2 with an SEC decision expected by August 2026.
Price targets sit between $360 and $410 for end of April per CryptoTimes if institutional flows extend, roughly 40% to 59% upside. Real on paper. But nothing close to what presale pricing delivers on listing day.
Uniswap (UNI) Price at $3.40 as AI Developer Platform Goes Live
Uniswap (UNI) trades near $3.40 per MetaMask with a $2.19 billion market cap. The Developer Platform rollout added AI native tooling, fresh liquidity provider endpoints, and updated documentation. The UNIfication vote passed in December 2025 turned on the fee switch, and ongoing burns trim UNI supply alongside DEX volume.
Analyst targets at $5 deliver UNI holders 53% upside if DEX volumes recover. Pepeto at $0.0000001865 pointed at $0.00005 is 268x, full stop.
Conclusion
April made one thing obvious. Capital rotates the second an institutional catalyst prints, and the ceiling stays hard for tokens already priced in the tens of billions. An entry sitting on a live exchange with a confirmed Binance listing does not lean on subnet tokens or AI toolkit releases to keep its return profile intact. That gap is what separates Pepeto from every other ticker chasing this rally.
Shiba Inu minted millionaires out of wallets holding a plain ticker with nothing underneath it. Pepeto is loading that same viral force on top of an exchange already running live, a signed SolidProof audit, and a confirmed Binance listing that gets closer by the hour. Large holders already inside this presale know exactly what they are holding, and capital of that size does not park unless the path ahead reads clean.
Hesitation at this price is what traders look back on as the mistake that defined the cycle. With buying pressure this thick and the Binance listing this near, the Pepeto window counts down in days, possibly hours, and the wallets still waiting for a cheaper floor become the ones watching someone else collect the gains this cycle.
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FAQs
Why is Pepeto the best crypto to buy now over Bittensor (TAO)?
Pepeto is the best crypto to buy now because its confirmed Binance listing sets a 268x catalyst from $0.0000001865 to $0.00005, backed by the creator of Pepe coin and a SolidProof audit. Bittensor (TAO) at $247 targets $360 to $410 per CryptoTimes, roughly 40% to 59% upside across weeks.
How does Pepeto beat Uniswap returns for buyers entering today?
Pepeto targets 268x from $0.0000001865 via a confirmed Binance listing while Uniswap (UNI) at $3.40 targets 53% toward $5. Pepeto’s 179% APY compounds positions every day regardless of DEX flow conditions, and the presale has already passed $9.29 million in verified capital.
Disclaimer: This is a Press Release provided by a third party who is responsible for the content. Please conduct your own research before taking any action based on the content.
Crypto World
KelpDAO $290M Hack Wipes $13B From DeFi
A $290 million exploit on KelpDAO’s cross-chain bridge on April 18, attributed by LayerZero to North Korea’s Lazarus Group, sent shockwaves through DeFi and erased more than $13 billion in total value locked across protocols within 48 hours.
Summary
- Attackers drained 116,500 rsETH worth approximately $290 million from KelpDAO’s LayerZero-powered bridge on April 18 in 2026’s largest DeFi exploit to date.
- LayerZero has attributed the attack with preliminary confidence to North Korea’s Lazarus Group, specifically its TraderTraitor subunit.
- The fallout triggered over $13 billion in outflows from DeFi platforms including Aave, which froze rsETH markets on both its V3 and V4 deployments.
Attackers drained 116,500 rsETH, worth approximately $290 million, from KelpDAO’s LayerZero-powered cross-chain bridge on April 18, in what CoinDesk has called 2026’s largest DeFi exploit to date. LayerZero, whose infrastructure underpinned the bridge, said in a statement Monday that “preliminary indicators suggest attribution to a highly sophisticated state actor, likely DPRK’s Lazarus Group.”
KelpDAO Hack Triggers $13 Billion DeFi Meltdown
The attack worked by compromising two remote procedure call nodes that LayerZero’s verifier relied on to confirm cross-chain transactions, then flooding backup nodes with junk traffic to force failover to the poisoned endpoints. Once the verifier signed off on a fabricated transaction, the bridge released $290 million in rsETH to an attacker-controlled address. The malware then self-destructed, wiping binaries and logs to frustrate forensic investigation. As crypto.news reported, the exploit triggered over $10 billion in outflows from Aave alone, with the lending protocol’s total value locked dropping from $45.8 billion to $35.7 billion as users scrambled to exit. UPI reported that more than $13 billion was wiped from total value locked across DeFi platforms in the two days following the breach.
LayerZero and KelpDAO Trade Blame Over Security Configuration
A dispute has erupted over who bears responsibility for the vulnerability that made the attack possible. LayerZero said KelpDAO had chosen to operate a 1-of-1 decentralized verifier network configuration, a single point of failure it had repeatedly warned against, and announced it would no longer sign messages for any application using that setup. KelpDAO pushed back, telling CoinDesk its configuration followed LayerZero’s own documented defaults and that the compromised validator was part of LayerZero’s own infrastructure. As crypto.news documented, independent security researchers including a Yearn Finance developer found that LayerZero’s public deployment code ships with single-source verification defaults across every major chain, undercutting the firm’s claim that KelpDAO had deviated from guidance.
What the Hack Means for DeFi Security and Institutional Confidence
The KelpDAO exploit is the second major DeFi breach linked to Lazarus in April alone, following the $285 million Drift Protocol attack on April 1, bringing the group’s total DeFi haul for the month to over $575 million. The attacker has since begun laundering the stolen funds, routing assets through Arbitrum and into Tron-based stablecoins, as crypto.news has tracked. Jefferies has warned that marquee hacks of this scale could temporarily slow Wall Street’s appetite for tokenization projects, as institutions reassess the security risks embedded in DeFi bridge infrastructure. LayerZero said it has confirmed zero contagion to other applications running multi-verifier configurations, but has forced a protocol-wide migration away from single-validator setups.
LayerZero said it is working with KelpDAO, the Security Alliance, and law enforcement agencies to trace the stolen funds, though the attacker’s use of privacy tools has significantly complicated recovery efforts.
Crypto World
Eric Trump Sparks 5% Meme Coin Surge With Fresh Justin Sun Attack
Tron founder Justin Sun filed a 52-page fraud lawsuit against World Liberty Financial (WLFI) this week. Eric Trump quickly fired back.
The complaint lists seven causes of action, including fraud in the inducement, conversion, and unjust enrichment. Sun invested $45 million in the Trump family-backed project.
Trump and Witkoff Reject Sun’s Claims
Eric Trump took aim at Sun’s infamous $6.2 million banana artwork purchase, calling it more ridiculous than the lawsuit itself.
“The only thing more ridiculous than this lawsuit is spending $6 million on a banana duct-taped to a wall. We are incredibly proud of the @worldlibertyfi team…,” President Donald Trump’s son commented.
Justin Sun purchased the viral art piece Comedian, a banana duct-taped to a wall, for $6.2 million at Sotheby’s in November 2024.
Zach Witkoff, WLFI co-founder, called the lawsuit a “desperate attempt to deflect attention from Sun’s own misconduct.” He said the project expects the case to be thrown out promptly.
WLFI allegedly froze 595 million of Sun’s unlocked tokens in September 2025. A smart contract update had introduced a blacklist function.
His frozen position reportedly lost more than half its value as the token declined.
Banana Gun (BANANA) price is up by almost 6% on the news, to trade for $4.01 as of this writing.
Critics Draw Parallels to Past Failures
Bitcoin advocate Simon Dixon compared WLFI to collapsed platforms like Celsius Network and FTX. He alleged the project uses its illiquid token to mint its own stablecoin. Dixon claimed insiders then earn yield from US Treasury debt.
“So World Liberty Financial allegedly uses its illiquid token WLFI (like CEL did with Celsius and FTT did with FTX) to mint its own stablecoin, allowing it to buy U.S. Treasuries and earn millions in yield from U.S. government debt, while the co-founder’s father (Witkoff) negotiates a nuclear deal in the war that his co-founder’s father (President Trump) started after tearing up the last Iran deal. The Trump and Witkoff families are using a token to earn yield on the debt the U.S. government is incurring from the Iran war. Let that sink in. Follow the money,” wrote Dixon.
A viral thread from self-described Web3 ambassador Peter Girnuz detailed alleged insider allocations and governance manipulation. Witkoff denied any association with Girnuz.
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WLFI trades near $0.079 at the time of writing, down roughly 74% from earlier highs and almost 1% in the last 24 hours.
The post Eric Trump Sparks 5% Meme Coin Surge With Fresh Justin Sun Attack appeared first on BeInCrypto.
Crypto World
BTC, ETH, XRP and More
Bitcoin extended its rebound, clearing the $79,000 area and signaling renewed bullish momentum. A breakout above the nearby $78,333 resistance increases the likelihood of a move toward $84,000 if buyers sustain the gain, according to market observations surrounding the latest price action. Decode noted on X that BTC appeared ready for a short squeeze as bulls pressed higher, adding to the sense of a hopeful recovery for the broader market.
On-chain signals offered cautious optimism. CryptoQuant analyst CW8900 highlighted that Bitcoin’s adjusted Net Unrealized Profit/Loss (NUPL) has turned positive, a sign that the market could be transitioning from distribution to accumulation. In parallel, the Bitcoin Bull Score Index (BSI) has returned to neutral territory for the first time since the bear market began, a development some analysts caution may still precede further volatility rather than guaranteeing an immediate upturn.
Key takeaways
- Bitcoin clears a key ceiling: BTC trading above $78,333 opens the door to a potential move toward $84,000, with a sustained push above the $79,000 mark reinforcing the bullish setup; a fall below the 20-day exponential moving average (~$73,758) would complicate the setup and could put $70,934 (the 50-day simple moving average) back into play.
- Ether shows resilience above a pivotal level: ETH rebounded off the 20-day EMA near ~$2,273 and is eyeing a breakout beyond $2,465, which could clear the path toward $2,800; a dip below the 20-day EMA would raise the risk of a pullback toward the $2,157 area near the 50-day SMA.
- Altcoins poised for a broader move: Several major assets are attempting to rise above resistance levels, signaling aggressive buying on dips and a possible wider risk-on rally for the sector.
- XRP and trendline dynamics to watch: XRP has bounced from nearby moving averages and could target the downtrend line; a confirmed breakout above that line would bolster the case for a short-term uptrend toward around $2.
- Mixed setups among popular assets: Cardano faces resistance in the region between the 50-day SMA and a downtrend line, while BNB has cleared $649 and could move toward $687 and then $790 if momentum persists.
Bitcoin and Ether anchor the relief rally
Bitcoin’s bid-up from the 20-day exponential moving average, which sits near $73,758, helped push the price above the $78,333 threshold. Should BTC hold above this level, traders anticipate further upside toward the mid-$80,000s, with $84,000 representing a potentially pivotal target. Conversely, a failure to sustain above the 20-day EMA would raise the odds of a pullback toward longer-term averages, including the 50-day SMA at roughly $70,934.
Ether’s setup echoes the broader risk-on mood. After a bounce off the 20-day EMA around $2,273, ETH has shown signs of renewed demand, supported by upward-sloping moving averages and bullish momentum indicators in the near term. A clearance of $2,465 would clear space toward the $2,800 region, while a break below the 20-day EMA could pull ETH back toward the $2,157 level near the 50-day SMA.
Altcoins in motion: XRP, BNB, SOL, DOGE and more
XRP turned up from its short-term moving averages, suggesting traders are starting to view dips as opportunities. The bulls’ next milestone would be a push above the downtrend line, which could open a path toward $2 if momentum builds decisively.
BNB extended its recovery after clearing the $649 barrier. If buyers sustain the move, the next targets could lie near $687, with potential extension toward $790 should the uptrend gather pace. A failure to hold above the moving averages could keep the pair range-bound for the near term.
Solana remains near key moving averages, with a break above $91 potentially opening a route toward $98 and, if sustained, toward $117. A slide back below the moving averages could prolong a period of range-bound action around the current levels.
Dogecoin regained upside momentum, eyeing a test of $0.10 and, if buyers stay in control, a move toward $0.12. A sharp retreat below $0.09 would reintroduce risk of a deeper pullback toward the February low around $0.08.
Hyperliquid has bounced off the 50-day SMA near $38.41, signaling dip-buying activity. The 20-day EMA is flattening and the RSI sits near the midpoint, suggesting a possible range formation in the near term. A sustained move above $45.77 would be needed to re-ignite the uptrend, while a break below the 50-day SMA could drag the price toward the $34.45 level on a renewed pullback.
Cardano is testing the resistance zone between the 50-day SMA (approximately $0.26) and a downtrend line. A successful breakout above that line could push ADA toward $0.32 and then to $0.37, while a turn lower could keep the price within the descending channel for longer.
Bitcoin Cash has clawed above the 50-day SMA around $454, with the moving averages hinting at bullish crossovers. If BCH can conquer the $486 resistance, a rally toward $520 becomes more plausible. A failure to sustain this level could keep BCH in a tighter range between the moving averages.
Monero surged past $382 but faces a challenge in maintaining momentum. A close above this level would target a fresh ascent toward the chart pattern’s objective near $462, while a drop below $382 could see bears resume selling rallies and push XMR back toward the moving averages’ support.
Overall, the current setup paints a picture of a tentative relief rally taking hold, with Bitcoin and Ether acting as the key anchors for broader market optimism. Yet, the spectrum of individual coin dynamics – from XRP and ADA to BCH and XMR – underscores the uneven pace of recovery across the sector and the ongoing influence of macro factors and on-chain signals.
Analysts note that while on-chain metrics have turned more constructive recently, the path forward remains uncertain. The market’s next moves may hinge on whether BTC can sustain above critical levels, whether ETH can push through sub-1% resistance zones, and how the rest of the crypto ecosystem responds to this renewed risk-on sentiment. As always, investors should manage risk and stay alert to shifts in technical levels and on-chain data.
Watch for continued price action near the key levels highlighted above and for any fresh on-chain signals that could confirm or challenge the current narrative. The coming sessions will indicate whether this relief rally has legs or remains a tactical bounce within a longer-running regime of caution.
Crypto World
American Bitcoin Stock Jumps 12% on Miner Expansion
Shares of American Bitcoin, the Trump family-linked mining company, surged approximately 12% on April 22 after the firm announced it had completed the deployment of 11,298 new ASIC miners at its Drumheller, Alberta site, expanding its active fleet to roughly 89,242 machines.
Summary
- American Bitcoin deployed 11,298 new ASIC miners at its Drumheller facility, adding 3.05 exahash per second of capacity and pushing total hashrate to 28.1 EH/s.
- The stock jumped approximately 12% to $1.38 on the news, extending a broader recovery as Bitcoin prices climbed.
- The expansion reinforces American Bitcoin’s decision to double down on Bitcoin mining while many rivals pivot capital toward AI data centers.
American Bitcoin Corp., the Bitcoin mining and treasury firm co-founded by Eric Trump and backed by the Trump family, sent its stock up roughly 12% to $1.38 on April 22 after announcing the completion of a major fleet expansion. The company deployed 11,298 ASIC miners at its Drumheller, Alberta facility, adding approximately 3.05 exahash per second of mining capacity and pushing its total owned fleet to around 89,242 machines representing 28.1 EH/s.
American Bitcoin Mining Expansion Defies the AI Pivot Trend
The newly deployed machines operate at an efficiency of approximately 13.5 joules per terahash, which the company says lowers its electricity cost per coin and improves the profitability of its mining operations even as Bitcoin network difficulty continues to rise. The expansion completes a fleet buildout that was first announced in March, making American Bitcoin one of the more aggressive scale-up stories among publicly traded miners in 2026. “Scaling hashrate is one of the ways we strengthen our position in Bitcoin,” Eric Trump, the company’s co-founder and chief strategy officer, said in a statement. “Bringing these miners online at Drumheller reflects exactly how we intend to lead: moving quickly, allocating capital with discipline, and growing our Bitcoin exposure efficiently at institutional scale.”
A Deliberate Bet on Mining as Rivals Shift to AI
The deployment represents a strategic statement as much as an operational update. Several major publicly traded Bitcoin miners have been redirecting capital and infrastructure toward artificial intelligence and high-performance computing data centers, where margins and demand have attracted significant institutional interest. American Bitcoin has chosen the opposite path, committing to large-scale mining as its core value driver. The company’s Bitcoin treasury now sits at approximately 7,000 BTC, and its business model is built around accumulating Bitcoin below spot price through scaled mining operations. As crypto.news reported at the company’s September Nasdaq debut, American Bitcoin positions itself as an institutional-grade vehicle for Bitcoin exposure, leveraging Hut 8’s infrastructure for mining and at-market purchases to maximize Bitcoin per share. The stock has faced significant volatility since listing, falling from a peak near $13 to around $1 before Tuesday’s rally.
What the Expansion Means for American Bitcoin’s Market Position
With its fleet now at 89,242 machines and an operational capacity of 25 EH/s across nearly 59,000 active units, American Bitcoin is deepening its structural advantage over competitors that have diluted their mining focus. The new hardware operates at above-average efficiency relative to the company’s existing fleet, which the firm says will lower its overall cost basis per Bitcoin mined. As crypto.news tracked, the stock has faced multiple pressure points since going public, including a sharp lockup expiry-driven selloff in December 2025, making the current recovery meaningful context for investors watching whether the operational expansion can translate into sustained price support.
American Bitcoin has scheduled its first quarter 2026 earnings call for May 6, where investors will be watching for updated Bitcoin production figures, treasury size, and the company’s cost-per-coin metrics following the completed Drumheller expansion.
Crypto World
BTC tops $79,000 as crypto rally accelerates; MSTR, COIN, CRCL jump
Bitcoin climbed above $79,000 on Wednesday, hitting its strongest level since early February as a long-awaited breakout attempt gathered momentum.
The largest crypto rose 4.5% over the past 24 hours, leading major altcoins ether (ETH), BNB , Solana (SOL) and XRP higher. The broad-market CoinDesk 20 Index advanced 3.5%.
Crypto-linked stocks also rose. Strategy (MSTR), the largest corporate BTC holder, jumped 10% while stablecoin issuer Circle Internet (CRCL) gained 9% and crypto exchange Coinbase (COIN) rose 6%. Bitcoin miners MARA Holdings (MARA) and Riot Platforms (RIOT) added 6%-7%.
The broader macro backdrop also turned supportive. The S&P 500 rose 0.9%, and the Nasdaq added 1.3% to record highs, extending the risk-on environment.
The gains followed U.S. President Donald Trump’s remark late Tuesday that he would extend the Iran ceasefire while maintaining a naval blockade of the Strait of Hormuz. Still, uncertainty around peace talks remains.
“BTC’s near-term direction remains highly dependent on macro and geopolitical developments,” said Paul Howard, a senior director at Wincent. He pointed to $72,000 as key support, with upside potentially could be capped near $80,000 range as traders take profits.
Bitcoin short squeeze potential
While macro risks are still in place, derivatives positioning could fuel the rally higher.
Perpetual swap traders remain heavily skewed bearish, with seven-day funding rates at near three-year lows, noted Vetle Lunde, head of research at K33 Research. At the same time, open interest continues to trend higher, suggesting fresh leverage is entering the market.

“Rising leverage alongside deeply negative funding suggests shorts are steadily building in perps, increasing both the likelihood and potential magnitude of a short squeeze,” he wrote.
“We continue to see strong breakout potential for BTC, with concentrated shorts providing ample fuel for a move higher,” Lunde added.
The $80,000 area, however, carries additional weight for bitcoin. It aligns with the short-term holder realized price — a measure of the average cost basis for newer market participants, who tend to be more sensitive to volatility and more likely to sell into strength.
For now, BTC is testing that hurdle. A clean move above it could signal stronger conviction behind the rally, but failing to hold could invite renewed selling pressure and profit-taking from shorter-term holders.
Crypto World
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Crypto World
Bitcoin Hits 11-Week High Above $78K
Bitcoin climbed above $78,000 on April 22, reaching its highest price in 11 weeks, as a wave of short liquidations and improved macro sentiment following Trump’s ceasefire extension combined to push the asset to a key technical level that had resisted multiple breakout attempts.
Summary
- Bitcoin broke above $78,000 on April 22 for the first time in 11 weeks, with CoinGlass data showing approximately $180 million in short liquidations clustered above the level.
- The move coincided with improved risk sentiment after Trump extended the Iran ceasefire, alongside a broader altcoin rally led by higher-beta assets.
- Analysts warn the move is driven by short-term positioning dynamics rather than a fundamental shift in capital allocation or market structure.
Bitcoin rose above $78,000 on April 22 for the first time since early February, touching an 11-week high as easing geopolitical tensions and a concentrated cluster of short liquidations above the level combined to push price through resistance that had turned back multiple attempts in recent weeks. According to Fortune’s April 22 price data, BTC was trading at $78,194 as of 9:15 a.m. ET, up approximately $2,293 from the prior morning.
Bitcoin 11-Week High Fueled by Short Liquidations and Macro Relief
CoinDesk reported that approximately $180 million in short futures positions were sitting above the $78,000 level heading into the session, according to CoinGlass liquidation heatmap data, creating significant upside fuel if price could clear the threshold. The broader catalyst was Trump’s extension of the Iran ceasefire announced on April 21, which lifted risk sentiment across equities and crypto simultaneously. Crypto futures open interest rose more than 4% to $126 billion in the 24 hours surrounding the move, with funding rates flipping positive across most major tokens, signaling renewed demand for leveraged long exposure.
Diana Pires, Chief Business Officer at sFOX, said, “Bitcoin reaching an 11-week high and testing the $78,000 level is being framed as a macro-driven move, but the move appears largely driven by positioning, with a significant amount of short liquidations sitting above the market. This is a squeeze dynamic more than a fundamental shift in demand.”
Altcoins Join the Rally, But the Breadth Tells Its Own Story
The Bitcoin move pulled altcoins higher across the board, with memecoins leading gains and higher-beta assets outperforming. As crypto.news documented, a similar dynamic played out during the earlier $225 million short squeeze in mid-April, where forced buying in derivatives markets accelerated a price move that ultimately failed to hold. The current rally’s altcoin participation pattern drew cautious readings from analysts watching for signs of genuine capital reallocation versus tactical risk-on positioning.
According to Diana, “Participation is expanding into altcoins, but it’s concentrated in higher-beta, more speculative segments. That’s consistent with a short-term risk-on reaction, not a broad reallocation of capital.”
Whether the Move Can Hold Is the Real Question
Bitcoin spent more than 46 consecutive days below $76,000 before this week’s move, building up one of the largest concentrations of short positioning in recent history, as crypto.news tracked. K33 Research head of research Vetle Lunde noted that comparable risk-off regimes with negative funding and rising open interest have historically preceded significant recoveries once short sellers were forced to unwind. That structural setup provided the technical conditions for the current move, but analysts are watching closely whether spot demand can sustain price above $78,000 once the immediate liquidation fuel is exhausted. The FOMC meeting on April 28 and 29 is the next major macro test, with rate cut expectations still largely absent from the near-term calendar.
“What matters now is whether this move can sustain without continued positioning support. Liquidity conditions remain tight, and capital is still selective in how it allocates to risk assets. Until that participation deepens and proves durable, this type of price action is more reflective of short-term positioning than a broader shift in market structure,” Diana explained.
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