Crypto World
Institutional Demand for Crypto ETPs Expands as Bitcoin Holds Above $76K
Crypto investment products extended their inflow streak last week as Bitcoin traded above $76,000, a level not seen since February’s pullback. Crypto exchange-traded products (ETPs) attracted $1.2 billion in fresh inflows, the fourth consecutive weekly gain, according to CoinShares. The run lifted assets under management to $155 billion—the highest level since February 1—while the four-week total reached about $3.9 billion, surpassing March’s prior four-week figure of $2.9 billion. CoinShares head of research James Butterfill framed the shift as evidence of improving institutional demand in the wake of a Bitcoin rally, even as traders prepared for the Federal Reserve’s policy decision later in the month.
Key takeaways
- Bitcoin-led inflows dominated the week, with $932.5 million flowing into BTC ETPs, pushing year-to-date BTC-related inflows to approximately $4 billion.
- US-listed spot Bitcoin ETFs attracted roughly $824 million in inflows, according to SoSoValue.
- Ether ETPs gathered $192 million, the third straight week of gains above $190 million, bringing year-to-date Ether inflows to about $390 million.
- XRP-related funds returned to inflows, adding $56 million after outflows the prior week.
- Short-Bitcoin products saw $16.5 million of inflows, indicating hedging activity within a constructive market backdrop.
- Blockchain equity ETFs posted a record weekly inflow, with about $617 million flowing in over a three-week span, underscoring rising demand for exposure to the broader digital-asset tech sector.
- Regional dynamics remained led by the United States, which accounted for about $1.1 billion in inflows, with Germany at $62 million and Switzerland at $35 million.
Bitcoin gains anchor broader demand for crypto ETPs
Bitcoin’s resilience near and above the $76,000 mark helped anchor the week’s inflows, amplifying the appeal of ETPs as a vehicle for institutional exposure. In addition to the price level, Butterfill noted that the market’s momentum is likely supported by improving fundamentals for crypto products, even as participants tread carefully ahead of the FOMC’s late-April meeting. “The market now turns to the FOMC decision on April 28–29, which is likely contributing to caution at the margin,” he said. The sustained higher price backdrop appears to be translating into continued appetite for BTC-focused ETPs, with the four-week run painting a clearer picture of renewed institutional interest.
Broader asset mix strengthens: Ether, XRP, and hedges
While Bitcoin led the charge, other digital-asset ETPs also showed strength. Ether ETPs registered $192 million of inflows, marking the third consecutive week above $190 million and lifting year-to-date Ether inflows to roughly $390 million. XRP funds rebounded to inflows of $56 million after a prior week’s outflow, illustrating ongoing interest in the wider payments-focused altcoin family. Short-Bitcoin products, a gauge of hedging sentiment, drew $16.5 million—an amount broadly in line with recent averages and suggesting steady hedging demand without dramatic spikes.
Blockchain equities continue to attract interest
Beyond native crypto assets, investors rotated into blockchain equity exchange-traded funds, which experienced a record week of inflows. Over the past three weeks, blockchain equity ETFs accumulated about $617 million in inflows, highlighting a broader appetite for exposure to the technology surrounding digital assets and their ecosystems. This pattern points to a shift where investors are not only chasing price moves but also seeking strategic exposure to the sector’s infrastructure and potential use cases.
Regional dynamics and what they imply
The regional breakdown showed the United States continuing as the dominant driver of inflows, with roughly $1.1 billion moving into crypto ETPs. Europe’s activity remained positive but more modest: Germany saw about $62 million in inflows, while Switzerland reversed last week’s outflows with $35 million of inflows. The concentration of flows in the U.S. underscores the ongoing regulatory and market structure advantages perceived by institutional participants in that region, even as other markets calibrate their own uptake of crypto products.
As the market looks ahead, investors will be watching how the forthcoming Federal Reserve decision shapes risk appetite for crypto investments and whether prices hold above key support levels. With aggregate ETP flows touching new yearly highs and a steady return of institutional interest, the landscape for crypto investment products appears to be shifting toward broader participation, albeit with ongoing caution as macro and policy signals evolve.
Oil prices are sitting in the same chart setup that triggered a 13% drop two weeks ago, but the options market and a deepening supply shock have rewritten the variables that determine whether the drop happens again or fails.
Brent crude trades at $101.39 on April 27, up 2.28% on the day and just below the $107.46 high it rejected on April 23. The pattern that triggered April’s drop is back. But the conditions around it are different.
Bearish Divergence Mirrors the Setup That Crashed Brent Crude 13% in April
Since March 9, Brent crude has traded inside a falling channel, a bearish pattern. Within that channel, the pattern flashing now is the same one that preceded April’s drop.
Between January 29 and April 23, Brent printed a higher swing high in price while the Relative Strength Index (RSI) printed a lower swing high. That is a textbook bearish divergence, where price strength outpaces underlying momentum and often signals a trend reversal.
The precedent is uncomfortable. The same divergence formed between January 29 and April 16. Brent then rolled over and dropped over 13% to a local low of $86.09.
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The pattern playing out today is structurally identical, with the same channel, the same momentum failure, and a similar rejection at the upper boundary. If the playbook holds, oil price faces a measured drop back toward the channel floor near $81.72.
Goldman, Inventory Draws, and a Collapsing Put-Call Ratio Disagree With the Chart
The chart says one thing. The options market says another. The United States Brent Oil Fund (BNO), a US-listed exchange-traded fund (ETF) that tracks Brent crude prices, gives a clean window into how options traders are positioning.
On April 16, when the prior bearish divergence flashed, BNO’s volume put-call ratio, a measure of bearish versus bullish bets in daily options flow, sat at 0.18, while its open interest put-call ratio, which measures standing positioning, was 0.25.
Brent then dropped 13%.
By April 23, when the latest divergence printed, the picture flipped. Volume put-call collapsed to 0.05, and open interest put-call dropped to 0.16, indicating shorts were liquidated and call demand surged.
Implied volatility (IV), the market’s expectation of future price swings, sits at 80.41% with an IV percentile at 88%, signaling traders are pricing a large move ahead.
The supply side explains the bullish positioning. Goldman Sachs raised its Q4 2026 Brent forecast to $90 per barrel from $80 on Monday, citing 14.5 million barrels per day in Persian Gulf production losses and global inventory drawdowns running at 11 to 12 million barrels per day.
That is the structural fuel keeping a bid under oil price, even as the technical picture warns of a drop.
Oil Price Levels Make $99.17 the Trigger, $107.46 the Reversal
The decision sits at $99.17, the 20-day Exponential Moving Average (EMA), where EMA is a trend line that averages price with more weight on recent candles.
On April 13, when oil price lost the 20-day EMA, a 13% drop accelerated within sessions. The same line is now sitting just below the current price.
A daily close above $101.40, the 0.236 Fibonacci level, keeps the bullish path open and points back toward $107.46. A clean break above $107.46 confirms the supply shock thesis. It opens room toward $119.11, the upper channel boundary.
However, a $99.17 loss mirrors the April 13 trigger.
It then exposes $97.64 at the 0.382 Fibonacci level, with $94.60 at the 0.5 Fibonacci level as the next test. The decisive cluster sits at $91.56, the 0.618 Fibonacci, which is the strongest support on the daily chart.
A break below $91.56 opens $87.23 and then $81.72, the channel floor that would complete the repeat-of-April scenario.
For now, $99.17 separates a bearish repeat from a supply-shock-driven rally.
The post Will Oil Price Drop Again or Has the Supply Shock Rewritten the Playbook? appeared first on BeInCrypto.
Intel (INTC) stock closed Friday at $82.54, capping a roughly 100% surge in a single month and printing fresh all-time highs, as traders now ask whether $100 is reachable before May ends.
The post-earnings melt-up has pushed Intel into deeply overbought territory while bearish options positioning quietly builds. Whether the chip giant breaks higher or pulls back from here now hinges on a single chart pattern forming on the two-day timeframe.
Intel Stock Volume Divergence Flashes Warning at Overbought RSI
Intel stock has rallied for seven months on the two-day chart, but volume has been thinning the entire way. Between September 17 and April 23, price trended steadily higher while traded volume trended in the opposite direction.
That gap is a classic volume divergence, a warning that conviction behind the move is fading.
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The Relative Strength Index (RSI), a momentum indicator, just printed 80.92. That marks the second time INTC has tagged this exact overbought zone in less than a year.
The first hit came in early 2026, and the stock corrected by roughly 23% in the days that followed. The same volume divergence preceded that pullback, and the same divergence is present now.
That technical exhaustion matters because of what sits underneath the rally.
Intel now trades above 120 times next year’s expected earnings, the richest forward valuation among large-cap chip stocks, meaning every dollar of future profit is already priced in many times over.
On a clean accounting basis, the company posted a $3.7 billion net loss last quarter after a Mobileye writedown, and the Intel Foundry segment, the centerpiece of the entire turnaround thesis, lost another $2.4 billion in the same quarter.
Momentum is the only thing currently holding price above the underlying business. When the RSI resets, that gap tends to close.
Whether options positioning confirms or contradicts that pullback risk is the next piece of the puzzle.
INTC Put-Call Ratio Rises Even as Analysts Stay Cautious
On March 27, when Intel closed at $43.13, the options market sat in balance. The put-call ratio by volume printed 0.93 and the open interest ratio printed 0.91, with neither calls nor puts dominating.
By April 23, the day Intel reported Q1 earnings with the stock at $66.78, the volume ratio had climbed to 1.23 and the open interest ratio to 0.96. Bearish positioning continued to build as the price rose.
That positioning carries two edges. If Intel pushes higher, those bearish bets get caught, and forced covering can amplify the move, the same dynamic that fueled the 24% single-day rip on April 24.
If the stock breaks down instead, the put wall becomes a magnet that pulls the price further down.
Implied volatility, which reflects how big a price move options traders expect over the coming year, sits at 73.63%. The IV Rank of 90.76 shows that reading is near the top of the past year’s range, meaning the market is bracing for one of its largest expected swings in either direction.
Wall Street has not stepped in to defend the rally. Analyst targets were raised across the board after earnings, but most ratings stayed cautious.
Barclays raised its price target to $65 with a Hold rating. Bank of America reiterated Sell at $56, implying roughly 32% downside. Morgan Stanley is rated Hold with a $73 price target. RBC went to $80, also Hold. Only Roth MKM at $100 and Northland at $92 carry a Buy.
With positioning bearish and most price targets sitting below spot, the price chart itself becomes the decider.
Intel Stock Price Levels and the May $100 Question
The rally from $40.76 to the April 24 peak at $85.37 forms the pole of a potential bull flag pattern. It is a continuation setup where a sharp move higher is followed by a tight sideways drift before the next leg up. Intel stock currently consolidates near $82.54.
The flag stays intact as long as the price holds above $64.84. A 2-day close above $83.10, the 0.618 Fibonacci level, would confirm the breakout.
That can push INTC stock price toward $94.39 and even $112.66, followed by a measured move toward $171.76 over the medium term.
For the May $100 target, the stock first needs to clear $83.10 cleanly, then break $88.07 (0.786 Fib) and the 1.0 Fib at $94.39. Above $94.39, the path to $100 opens through the 1.618 extension at $112.66.
The setup carries a real caveat. With RSI already at 80.92 and volume thinning into the move, a sharp pullback toward $76.13 (0.382 Fib) or even $71.81 (0.236 Fib) remains possible before any clean breakout.
A 2-day close below $64.84 invalidates the bull flag and the bullish thesis. The next major support from there sits all the way down at the $40.76 base from late March, the same level Intel traded at before the rally began.
Below that line, the price is no longer pricing in the AI turnaround at all, just the loss-making business shown in the latest filing.
The $83.10 close is the line in the sand. A clean break sends Intel stock toward $100 in May. A rejection here, with bearish options positioning, an extreme RSI reading, and a foundry segment still losing $2.4 billion a quarter as fuel, opens the door for a 23% pullback that would mirror the last overbought reset.
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Bernstein’s latest research paints IREN as potentially the next Bitcoin miner to pivot into AI infrastructure, anchored by a multi-billion-dollar deal with Microsoft. The note frames this move as part of a broader, upcoming shift in mining economics as operators redirect energy and capital toward high-margin AI compute rather than traditional crypto mining.
The analysts spotlight IREN’s AI cloud push, noting about 150,000 GPUs already contracted and forecasting an annual revenue run rate of roughly $3.7 billion once the capacity is fully functional. A five-year engagement with Microsoft sits at the core of the plan, with Microsoft committing GPU capacity for AI workloads and providing substantial prepayments that help fund the infrastructure expansion.
Overall, Bernstein estimates IREN’s GPU program amounts to about $5.8 billion in invested capital. The note emphasizes that this sum is largely funded through Microsoft prepayments and GPU-backed financing facilities, supplemented by other cash and capital sources, which helps keep borrowing costs comparatively favorable during the rollout.
Bernstein’s central thesis is that this transition could redefine IREN’s business model. The firm suggests IREN will progressively sunset its Bitcoin mining operations as it retrofits sites to accelerate cloud deployment. Rather than a wholesale shutdown, IREN is repurposing existing mining hardware and facilities—particularly in Texas and British Columbia—replacing ASIC rigs with GPUs designed for AI workloads.
On balance, Bernstein anticipates that IREN’s AI cloud revenue could emerge as the primary source of income in the coming years, with Bitcoin mining shifting into a legacy role as power capacity is redirected toward contracted, higher-margin AI computing workloads. The shift is already underway in practice, with the company pursuing a hardware and location strategy built around AI workloads rather than pure BTC production.
IREN isn’t isolated in this pivot. Several peers in the mining sector, including TeraWulf and HIVE Digital, have begun reallocating power and capital toward AI and high-performance computing, often while maintaining some level of ongoing BTC mining. The trend has sparked discussion about how AI data centers might reshape the economics of crypto mining, and whether the shift could stabilize revenue streams in a landscape of volatile energy prices and crypto cycles.
Key takeaways
- Bernstein identifies IREN as a potential leader in AI infrastructure, anchored by a Microsoft-backed, GPU-heavy expansion.
- Approximately 150,000 GPUs are contracted, with an estimated $3.7 billion in annual revenue run rate once the capacity is fully operational.
- Microsoft’s five-year agreement includes substantial prepayments that fund the build-out, complemented by GPU-backed financing.
- The broader GPU investment—around $5.8 billion—faces capital structure designed to minimize new debt through prepayments and financing facilities.
- Bernstein projects AI cloud revenue as the main income driver for IREN in the medium term, with Bitcoin mining becoming a legacy segment as energy capacity shifts to AI workloads.
- From an investor perspective, Bernstein assigns a $100 price target and maintains an Outperform rating, acknowledging dilution risks and the gradual wind-down of mining as factors.
- The sequence mirrors a wider industry transition, as other miners explore AI data-center strategies in parallel with existing mining operations.
Strategic pivot and financing mechanics
At the heart of the thesis is a deliberate redeployment of IREN’s physical footprint. Rather than shuttering operations, the company is retrofitting sites to host GPU farms that can support AI-centric workloads. The initial focus areas include North American locations such as Texas and British Columbia, where available power capacity and supportive infrastructure could accommodate high-demand AI compute tasks in parallel with ongoing mining activities.
The financial scaffolding reinforces the strategy. Microsoft prepayments and GPU-backed financing facilities are designed to underpin the capex-heavy transition, reducing the immediate need for traditional equity raises or debt funding. Bernstein notes that this arrangement can cushion the transition against capital-cost fluctuations, provided AI demand holds up through the deployment cycle.
Industry context: a broader AI data-center shift
The IREN narrative sits within a broader wave of miners examining AI and HPC as revenue diversification. Firms like TeraWulf and HIVE Digital have publicly signaled similar pivots, emphasizing the opportunity to monetize surplus power by supporting AI workloads in addition to BTC mining. If this trajectory persists, it could alter the economics of crypto mining by introducing longer-term, contracted revenue streams that are less sensitive to spot energy price movements.
Nevertheless, the transition introduces new risks. AI compute contracts typically involve longer commitments and higher upfront capex, which could heighten exposure to technology cycles and utilization risk. Execution quality, regulatory considerations, and the pace of AI adoption will shape whether these reorganizations translate into durable profitability for the companies pursuing them.
Investor outlook: what Bernstein sees for IREN
In its note, Bernstein assigns IREN a price target of $100, implying substantial upside should the company successfully scale its AI cloud platform while winding down mining. The target sits with an Outperform rating, reflecting confidence in the strategic shift but tempered by the dilution concern and the gradual decline of mining revenue. The target marks a revision from a prior $125 price objective, signaling a more cautious stance on near-term dilution and transition risk.
As of the report, IREN trades below the $50 level, presenting what Bernstein characterizes as roughly 10x upside potential if the AI infrastructure strategy materializes as envisioned. The firm emphasizes that the outcome depends on execution, the durability of Microsoft’s utilization, and the sector’s ability to absorb additional AI capacity in a market that remains sensitive to macro and energy-cost dynamics.
Beyond IREN, the trend toward AI data-center deployment across the mining sector is drawing attention from investors and regulators alike. The coming quarters will reveal how quickly these firms can scale GPU-centric operations, how favorable the financing terms remain, and whether AI demand proves resilient through varying market cycles.
As the industry watches, the central questions revolve around utilization risk, the pace of retrofits, and the long-term profitability of AI-first business models for crypto miners. If IREN and its peers can demonstrate stable AI revenue streams alongside disciplined capital management, the shift could redefine what it means to operate a crypto mining enterprise in the current era.
Investors should monitor quarterly updates for site retrofit progress, GPU procurement milestones, and disclosures on Microsoft utilization patterns. The trajectory of the AI cloud run rate and the evolution of the company’s funding framework will be telling signals for how quickly this strategic pivot can translate into sustained financial performance.
As the transition unfolds, the market will be keen to see whether the combination of Microsoft’s support and GPU-backed financing can sustain a robust AI compute business, and how durable these AI-driven margins prove to be in a competitive data-center landscape.
Tether has released an open-source development framework for Bitcoin mining, aimed at giving operators and developers unified control over hardware and software across mining operations.
According to Monday’s announcement, the framework combines a backend SDK and user interface tools to replace fragmented, vendor-specific systems, allowing miners to monitor devices, manage operations and build custom applications across sites from a single control layer.
It uses a modular architecture in which hardware exposes standardized functions and independent modules can be added without altering the core system, enabling integration across different machines, services and locations.
The toolkit supports deployment across Windows, macOS and Linux, and is designed to scale from individual setups to large industrial operations, with features for automation, monitoring and coordinated hardware management, Tether said.
The framework is designed to reduce reliance on proprietary tools and simplify operations across fragmented mining setups, where vendor lock-in and interoperability challenges can increase costs and limit flexibility.
Tether said the release builds on the company’s earlier open-sourcing of its Mining OS, extending its mining software stack with a development layer for building dashboards, workflows and analytics tools on top of existing infrastructure.
The move comes about a week after the company disclosed an 8.2% stake in Antalpha, a Bitcoin-focused lender and equipment financing provider with close ties to mining hardware supplier Bitmain.
Tether is the issuers of USDT (USDT), the largest stablecoin by market capitalization, accounting for about $190 billion of the roughly $320.7 billion global stablecoin market cap, according to DefiLlama data.
Total stablecoin market cap. Source: DefiLlama
Related: Mining companies move deeper into AI, HPC as MARA may sell Bitcoin
Miners continue to push into AI infrastructure
As Tether moves deeper into Bitcoin mining infrastructure, traditionally pure-play mining operators across the industry are increasingly turning to artificial intelligence and high-performance computing workloads to diversify revenue.
One of the earliest companies to pivot was CoreWeave, originally a crypto mining operation that began shifting toward cloud and high-performance computing in 2019 as demand for AI compute increased.
Since then, a growing number of publicly traded miners, including Riot Platforms, HIVE Digital, MARA Holdings, TeraWulf and Cipher Mining, have pursued similar strategies, redirecting power capacity and infrastructure toward AI and high-performance computing.
Top 10 publicly traded Bitcoin miners by market cap. Source: Bitcoinminingstock.io
Last week, Core Scientific said it plans to raise $3.3 billion through senior secured notes due in 2031 to fund data center expansion and refinance short-term debt.
On Monday, Hut 8 said in a filing that it is seeking to raise $3.25 billion in senior secured notes to fund a 245-megawatt AI data center in Louisiana, tied to a 15-year, $7 billion lease agreement with Fluidstack, according to The Miner Mag.
Some miners are moving further. Also on Monday, analysts from Bernstein said IREN, the largest publicly traded Bitcoin miner by market capitalization, will likely phase out its mining operations over time as it scales its AI cloud business.
Magazine: 6 weirdest devices people have used to mine Bitcoin and crypto
Bitcoin (BTC) fell more than 2% on Monday as US-Iran war nerves again guided macro markets.
Key points:
- Bitcoin gave back early-week gains as its downside extended toward 3% on Monday.
- Two key moving averages hang in the balance amid macro uncertainty over the war in Iran.
- Bulls need to clear the low $80,000 area next, says market analysis.
Crypto exec: Bitcoin needs to clear bull market support band
Data from TradingView showed BTC/USD hitting local lows of $76,567 on Bitstamp, giving back earlier gains.
BTC/USD one-hour chart. Source: Cointelegraph/TradingView
The pair had managed a weekly candle close above a key moving average — something that market participants had hoped would allow it to avoid a fresh retracement.
“Bitcoin just reclaimed the 21W EMA for the first time since Oct 2025,” trader Ryan Hogue noted in a post on X.
“$84.5K (200DMA) looks like the next stop this week.”
BTC/USD one-week chart. Source: Ryan Hogue/X
Nic Puckrin, CEO and cofounder of crypto education platform Coin Bureau, added that Bitcoin reclaiming its bull market support band — two moving averages of which the 21-week EMA is one — was now key.
“We are right in the middle of the Bull Market Support Band. This has historically served as a key support for bull markets. We broke below the band in October last year,” he told X followers.
“While 80k is acting as a resistance right now, if we flip the band to support, it would point to a major macro-bullish shift.”
BTC/USD one-day chart with bull market support band. Source: Nic Puckrin/X
Crypto markets “shaping up for more upside”
Uncertainty over progress between the US and Iran on ending the war nonetheless directed Bitcoin lower at the Wall Street open, along with US stocks.
Related: First 21-week trend line reclaim since October 2025: Five things to know in Bitcoin this week
Oil conversely began to gain, with WTI crude reaching $97.50 per barrel to near two-week highs.
CFDs on US WTI crude oil four-hour chart. Source: Cointelegraph/TradingView
Commenting, trading company QCP Capital suggested that Iran’s foreign minister flying to Russia for talks with President Vladimir Putin was “reviving concerns of broader geopolitical alignment and escalation, and adding to market uncertainty.”
“Whether the next leg higher proves to be another classic bull trap or a more durable recovery will hinge on BTC’s ability to close above 82k,” it wrote in its latest Market Color analysis.
QCP added that corporate earnings represented another source of potential risk-asset volatility for the week ahead.
BTC/USDT six-hour chart. Source: Michaël van de Poppe/X
Elsewhere, crypto trader Michaël van de Poppe was confident about a breakout beyond the current multimonth trading range.
“The markets are still shaping up for more upside, and it’s still holding crucial levels,” he wrote on the day.
“I think that we’ll see $85-88K in May and correct/consolidate from there.”
KBank, the South Korean digital-only bank that serves as the exclusive banking partner for crypto exchange Upbit, is set to test onchain cross-border remittances with Ripple, the bank said Monday.
The two companies have completed the first phase of a proof-of-concept using a wallet-based remittance system and are now in phase two, testing the stability of onchain transfers to countries including the United Arab Emirates and Thailand.
KBank is using Palisade, Ripple’s software-as-a-service wallet that was acquired earlier this year as part of Ripple’s $4 billion in crypto-related investments.
Most international bank transfers today route through correspondent banking networks like SWIFT, which can take days to settle and charge fees that compound at each intermediary.
Onchain remittances move funds directly across a blockchain network, settling in minutes with the fee paid only to the network rather than the chain of correspondent banks.
The Ripple partnership tests whether KBank can use that approach to improve speed, cost, and transparency for its remittance customers.
KBank also indicated it is preparing for stablecoin-related regulations in Korea, with plans to continue technical verification of remittance use cases for stablecoins as the legal framework develops.
Korean regulations require all crypto exchange users to link a verified bank account before trading, with each major exchange paired exclusively with one bank. KBank holds that monopoly position with Upbit, the country’s largest crypto exchange. The arrangement helped KBank’s user base grow from roughly 2 million in 2020 to 15 million by the end of 2025.
South Korea lawmakers are currently mulling the Digital Asset Basic Act, a comprehensive crypto regulatory framework that is being finalized. Major Korean financial institutions have been signing infrastructure deals with global blockchain companies in the run-up to the law taking effect.
Korea is one of the most active retail crypto markets in the world, with daily trading volumes on local exchanges regularly outpacing those of mainstream stocks during peak periods. Banks operating in this market are positioning to handle the corporate and cross-border activity expected to follow once the Digital Asset Basic Act formalizes how stablecoins, custody, and tokenized assets are treated under Korean law.
With Genesis Capital fully deployed, the protocol looks to shift from governance-determined capital outflows to rules-bound expenses capped at a fixed percentage of revenue.
Sky, the decentralized finance (DeFi) lending protocol formerly known as MakerDAO, is moving to overhaul how its treasury allocates net revenue now that the founding phase of capital deployment has formally ended.
In a forum post, founder Rune Christensen laid out the rationale for simplifying the Treasury Management Function (TMF), arguing that the recent transfer of Genesis Capital to Grove marks Sky’s permanent exit from the Genesis Capitalization phase. Genesis Capital was the bootstrap funding mechanism Sky used to seed new agents during the expansion of its Sky Agent Network.
The “irregular, governance-determined capital deployments” of the founding period are over, the post said, leaving behind a set of expenses that are rules-bound, predictable, and capped as a fixed percentage of revenue.
The proposal would simplify the TMF from a five-step conditional waterfall into a four-step structure with fixed allocations across Security and Maintenance, Aggregate Backstop Capital, the Smart Burn Engine, and USDS Staking Rewards.
It would also retire several legacy mechanisms, including the Net Revenue Ratio, phase-based distinctions, activity-based staking reward tiers, and Short Term Trading provisions.
The treasury overhaul comes as Sky scales rapidly. USDS supply has climbed to roughly $11.6 billion, making it the third-largest stablecoin, after the Sky community authorized up to $2.5 billion for deployment through stablecoin incubator Obex earlier this year and launched native USDS on Avalanche via the SkyLink bridge in April.
S&P Global Ratings, which last year assigned Sky a “B-“ issuer credit rating, has flagged governance and capital position as the protocol’s key constraints.
Tightening the rules around how revenue is split between security buffers, backstop capital, SKY buybacks, and staking rewards is consistent with the post-Endgame push to make Sky’s expense base more predictable.
This article was written with the assistance of AI workflows. All our stories are curated, edited and fact-checked by a human.
TLDR
- Crypto funds recorded $1.2 billion in inflows, marking four consecutive weeks of positive momentum.
- Bitcoin attracted $933 million in weekly inflows and pushed its year-to-date total to $4.0 billion.
- Total assets under management rose to $155 billion, the highest level since early February.
- Ethereum posted $192 million in inflows, extending its streak to three straight weeks above $190 million.
- Blockchain equity ETFs drew $617 million over the past three weeks as demand increased.
Crypto investment products recorded $1.2 billion in weekly inflows as Bitcoin price climbed to its highest level since early February. CoinShares reported four consecutive weeks of positive flows, which lifted total assets under management to $155 billion. The firm linked the momentum to improving institutional demand and stronger ETF participation.
Crypto Funds Extend Weekly Gains as Bitcoin Leads
Crypto funds posted their fourth straight week of inflows, bringing in $1.2 billion across digital asset products. CoinShares stated that the rise followed Bitcoin’s price move to its highest point since early February. Total assets under management increased to $155 billion, the highest level since February 1.
However, assets under management remain below the $263 billion peak recorded in October 2025. The report titled “Digital Asset Fund Flows Weekly Report” detailed asset-by-asset performance. It showed steady allocation activity across major cryptocurrencies and related equity products.
Bitcoin attracted $933 million in inflows during the reported week. This pushed its year-to-date total to $4.0 billion, according to CoinShares. The firm said the data reflected sustained ETF demand and ongoing accumulation.
Short-Bitcoin products added $16.5 million during the same period. CoinShares said this amount stayed close to the previous month’s average levels. The firm indicated that hedging activity continued but did not increase.
Ethereum, Altcoins Record Fresh Allocations
Ethereum recorded $192 million in inflows over the past week. This marked its third consecutive week with more than $190 million in allocations. CoinShares reported consistent demand across major Ethereum-linked products.
Solana attracted $31.8 million in fresh capital during the week. XRP followed with $25 million in inflows, according to the report. Chainlink also added $6.8 million during the same timeframe.
Litecoin and Sui posted smaller inflows of $0.5 million and $0.4 million, respectively. The data showed broad participation across multiple digital assets. However, Bitcoin and Ethereum accounted for most of the weekly totals.
Blockchain equity ETFs drew $617 million over the past three weeks. The products reached record weekly levels during this period. The report said investors sought exposure to both technology firms and digital asset markets.
The United States led regional inflows with $1.1 billion. Germany followed with $61.7 million, which more than doubled the previous week’s figure. Switzerland reversed prior outflows and posted $35.2 million in new allocations.
Canada added $15 million, reflecting broader regional participation. Australia and Brazil reported inflows of $0.8 million and $0.5 million, respectively. Meanwhile, Hong Kong, France, the Netherlands, Italy, and Sweden recorded modest outflows.
QCP Capital said geopolitical developments influenced short-term price action. “BTC and ETH initially moved higher, but gains were quickly reversed as new geopolitical concerns emerged,” the firm stated. Bitcoin remains up more than 15% this month as ETF demand continues and traders watch the April 28-29 FOMC decision.
TLDR
- Sam Altman apologized for not alerting police about a banned account linked to the Tumbler Ridge shooting suspect.
- OpenAI banned the suspect’s account in June 2025 for activity related to violent behavior.
- The company decided the content did not meet its threshold for an imminent threat.
- The February attack in British Columbia left eight people dead and 25 injured.
- Altman said he spoke with local and provincial leaders before issuing the public apology.
OpenAI CEO Sam Altman apologized to Tumbler Ridge officials for not alerting police about a banned account. The company had removed the account months before a February mass shooting. Altman acknowledged the failure in a public letter released Friday.
Sam Altman Addresses Reporting Failure
Sam Altman sent the letter to leaders in Tumbler Ridge, British Columbia. He admitted the company did not notify authorities after banning the suspect’s account. He wrote, “I am deeply sorry that we did not alert law enforcement.”
He explained that OpenAI banned the account in June 2025. The company cited activity tied to the “furtherance of violent activities.” However, internal reviewers decided the posts did not meet the threshold for imminent harm.
Altman stated that OpenAI considered contacting the Royal Canadian Mounted Police. Yet the company concluded the content lacked a credible and immediate threat. As a result, staff removed the account but did not escalate the case.
He added, “While I know words can never be enough, I believe an apology is necessary.” He recognized the “harm and irreversible loss” suffered by the community. He expressed sympathy for families who lost loved ones.
The February attack unfolded in Tumbler Ridge, British Columbia. Police identified 18-year-old Jesse Van Rootselaar as the suspect. Authorities said she killed her mother and stepbrother before attacking a local school.
At Tumbler Ridge Secondary School, five children and one educator died. Twenty-five others sustained injuries during the shooting. Police confirmed that Van Rootselaar later died by suicide.
Officials Respond to Sam Altman Letter
Altman said he spoke with Mayor Darryl Krakowka and Premier David Eby. He stated they shared the anger and sadness felt across the town. He said they agreed that a public apology was necessary.
He wrote, “No one should ever have to endure a tragedy like this.” He added, “I cannot imagine anything worse in this world than losing a child.” He pledged to work with authorities to prevent similar events.
After the attack, OpenAI disclosed that its systems had flagged the account months earlier. The company said it reviewed the content under its safety policies. It confirmed the account violated usage rules and led to a ban.
The firm stated that it weighed whether to alert police. However, reviewers determined the material did not show imminent danger. Therefore, OpenAI did not contact law enforcement at that time.
Premier David Eby responded publicly on X. He wrote, “The apology is necessary, and yet grossly insufficient.” He added that officials will continue supporting Mayor Krakowka and residents.
The letter emerged as other investigations examine technology platforms and violent incidents. Florida authorities are reviewing whether ChatGPT influenced a 2025 shooting suspect. Separately, a lawsuit claims Google’s Gemini deepened a man’s delusions before his death.
Altman prepares for a civil trial with Elon Musk in federal court this week. The apology letter marks his latest public statement. He reaffirmed his commitment to work with government leaders on safety measures.
OpenAI published five guiding principles on April 26, warning that superintelligence could consolidate power among a small group of companies. The lab pledged to widely disseminate the technology to prevent that outcome.
Sam Altman shared the framework on X. It replaces OpenAI’s 2018 AGI charter and lands as decentralized AI projects compete for the same narrative.
OpenAI Reframes Superintelligence Around Five Principles
The five principles are democratization, empowerment, universal prosperity, resilience, and adaptability. The first commits OpenAI to resisting any concentration of AI control, including within the company itself. It also routes key decisions through democratic processes rather than internal lab choices.
Altman framed it as the lab’s first major principles update since 2018. Empowerment promises broad public access to general AI and the tokens markets that have grown around it.
The remaining three pillars cover economic transition risks, coordination on safety, and a willingness to revise positions. The 2026 charter mentions AGI only twice, signaling a shift toward a wider commitment to AI infrastructure.
Decentralized AI Rivals Push Back
The warning lands as crypto-native AI networks expand. Bittensor (TAO) ran the largest-ever decentralized large-language-model training on its Templar subnet in early April. Grayscale has filed for a TAO-focused ETF, drawing fresh institutional capital to the network.
Critics argue that OpenAI is raising concerns about decentralization only after locking in dominant compute and capital. The company raised more than $110 billion at a $730 billion valuation earlier this year, with Amazon contributing $50 billion of that round.
Validator subnets on Bittensor and similar protocols remain small relative to that capital base. Whether the new principles change how OpenAI deploys its money will determine the document’s weight.
The post OpenAI Warns Superintelligence Could Concentrate Power Without Decentralization appeared first on BeInCrypto.
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