Every perpetual contract tracking real-world assets (RWA) on Aster will settle exclusively in USD1, World Liberty Financial’s dollar-pegged stablecoin, according to posts from both projects on X.

The first markets rolling out include gold, silver, crude oil, and Brent crude, with additional markets to follow, Aster said. The fee structure for USD1 commodity pairs is set at 1 basis point for takers and a negative 0.5 basis points for makers — meaning the exchange will pay a rebate to liquidity providers.

The two sides also said they are “exploring integration across their respective tokens,” though neither project elaborated.

The arrangement positions USD1 as the base asset for Aster’s RWA vertical, giving WLFI’s stablecoin exclusive infrastructure-level access to a fast-growing segment of on-chain trading.

The announcement extends a partnership that has escalated quickly. USD1, which launched in April 2025, is now the sixth-largest stablecoin with approximately $4.4 billion in circulation, according to Coingecko.

WLFI has been pushing distribution aggressively — most recently through a toolkit that lets AI agents transact autonomously using USD1, alongside a Binance campaign offering a 135 million WLFI reward pool to USD1 holders and listings on Coinbase and MEXC.

For Aster, the commodity expansion tracks with its own transformation from a crypto-only perp DEX into a multi-asset trading platform. The exchange already offers perpetuals on U.S. equities alongside its core crypto derivatives and recently launched the genesis phase of Aster Chain, a privacy-focused Layer 1 using zero-knowledge proofs.

Both projects’ native tokens are relatively muted today, with ASTER flat while WLFI is up 2%.

This article was written with the assistance of AI workflows. All our stories are curated, edited and fact-checked by a human.

Crypto markets rallied on Monday as mediators submitted a 45-day ceasefire plan to the U.S. and Iran, while Michael Saylor’s Strategy resumed buying BTC after a weeklong pause.

Bitcoin is trading at around $69,700, up 3.7% over the past 24 hours. ETH surged 4% to $2,150, while SOL climbed 2.5% to $82. Meanwhile, XRP added 3%.

Total crypto market capitalization rose 2.6% to $2.45 trillion, according to CoinGecko.

The broad-based rally came after Reuters reported that Egyptian, Pakistani, and Turkish mediators submitted a proposal to the U.S. and Iran calling for a 45-day ceasefire and the reopening of the Strait of Hormuz, the vital shipping lane that carries about a fifth of the world’s oil and has been effectively closed since the war began on Feb. 28.

President Donald Trump called the proposal “significant” but “not good enough” at a White House Easter event on Monday. He has set a Tuesday 8 p.m. ET deadline for Iran to reopen the Strait or face strikes on its power plants and bridges.

Iran rejected the temporary ceasefire, with state news agency IRNA reporting that Tehran sent a 10-point response through Pakistan demanding a permanent end to the war, a safe-passage protocol for the Strait, and the lifting of sanctions.

Despite the uncertain diplomatic backdrop, crypto markets responded to the mere existence of a framework for de-escalation, a dynamic that has repeatedly played out since the conflict began.

The rally triggered $331 million in leveraged liquidations over 24 hours, affecting more than 83,000 traders, according to CoinGlass. Short positions accounted for roughly $268 million of the losses in the past 12 hours, adding fuel to the move higher.

Strategy Buys $330 Million of Bitcoin

Michael Saylor’s Strategy disclosed in a securities filing Monday that it purchased roughly $330 million worth of Bitcoin between April 1 and April 5. The buy lifted the firm’s total holdings to 766,970 BTC at an aggregate cost of about $58 billion and an average price of roughly $75,644.

The purchase followed a one-week pause during which Strategy made no purchases or share sales. Strategy also disclosed a $14.5 billion unrealized loss for the first quarter as Bitcoin’s decline from its October all-time high pushed its holdings below the firm’s average cost basis. MSTR shares rose roughly 5% in early Monday trading.

Meanwhile, BitMine Immersion bought another 71,252 ETH in the past week, its largest single-week purchase since December.

Looking Ahead

The immediate catalyst is Trump’s Tuesday evening deadline. A deal or even a credible extension would likely boost risk assets further, while an escalation could reverse today’s gains.

Meanwhile, the Fed is widely expected to hold rates steady at its April 29 meeting, with CME FedWatch showing a 99.5% probability of no change.

NBC host Savannah Guthrie walked back onto her TV set this morning in her signature yellow dress, 65 days after someone abducted her 84-year-old mother from her Arizona home and demanded $6 million in bitcoin. 

The Today Show co-anchor, age 54 and still concerned about her 84-year-old mother, closed her greeting simply, “It is good to be home.” The Today crew decorated Studio 1A with yellow flowers and ribbon pins. Fans held signs outside Rockefeller Center. Her co-anchor Craig Melvin wore yellow in solidarity.

Her mother, Nancy Guthrie, is still missing. Law enforcement officers have still not arrested anyone in connection with the abduction despite persistent attempts and nationwide media attention. Investigators have not named a suspect.

Behind the warm homecoming sits an investigation that has produced, by any measure, infuriatingly little.

65 days, zero suspects

Nancy Guthrie disappeared from her home near Tucson, Arizona on the night of January 31. Her son-in-law, Tommaso Cioni, drove her home around 9:48pm. By 1:47am, a masked, armed individual had disconnected her doorbell camera. By 2:28am, her pacemaker had disconnected from the monitoring app on her cellphone.

Investigators found blood matching Nancy’s DNA at the house’s entrance.

The US Federal Bureau of Investigation (FBI) and Pima County Sheriff’s Department have received nearly 40,000 tips to little avail.

The only arrest was a California man named Derrick Callella, who sent the family fake ransom messages. After investigation, law enforcement determined that his financial opportunism had nothing to do with the actual abduction.

Ransom notes sent to TMZ and local media outlets demanded up to $6 million worth of BTC, escalating from an initial $4 million demand. Kidnappers attached a BTC wallet address and unreleased case details. Two deadlines passed without consequence. Investigators have neither confirmed nor denied their authenticity.

The key visual evidence released in the case is doorbell camera footage published on February 10, along with FBI-released still images. The footage shows a suspect described as 5’9” to 5’10” tall with an average build and a black 25-liter Ozark Trail backpack. 

The FBI recovered the doorbell footage from residual Nest backend data with private-sector assistance. On February 18, the sheriff announced efforts to extract additional video from other cameras at the home.

Savannah Guthrie struggles with self-blame

On March 26-27, in a multi-part interview outside of regular TODAY Show programming, Guthrie sat with former co-host Hoda Kotb and recounted the moment her brother Camron suggested that ransom motivated the kidnapping, specifically because of Savannah’s fame.

“I said, ‘Do you think because of me?’ And he said, ‘I’m sorry, sweetie, but yeah, maybe.’”

She described her guilt in terms that left little room for interpretation: “To think that I brought this to her bedside, that it’s because of me.”

Tragically, the family offered a $1 million reward for Nancy’s return on February 24. The FBI is also offering $100,000. Neither offer has produced a publicly named suspect.

Senator Bill Hagerty, a Republican member of the Senate Banking Committee, signaled on Monday that a viable path for a US digital asset market structure bill could crystallize in the coming weeks after months of congressional stalling. Speaking at the Digital Assets and Emerging Tech Policy Summit at Vanderbilt University, Hagerty indicated that fellow Republicans intend to move the CLARITY Act through the banking panel starting next week, with the goal of pushing it through committee in the April work period.

“We will be in a position, I hope, to bring all of this together very soon,” Hagerty said, noting that the banking committee is “very close” and that he expects the bill to be in committee in the next work period beginning Monday. “Over the next several weeks we should have this into the banking committee.”

“There’re several issues still outstanding, I think none of them are insurmountable and we will get to a point I believe in April that we’ll have it out of the banking committee. There’s still a lot more work to do.”

The event underscored the sense among lawmakers that a comprehensive framework for digital assets—long discussed but repeatedly delayed—could finally move forward in the first half of the year. Hagerty’s comments come as the bill’s path remains tethered to negotiations across committees and the broader political calendar as the midterm cycle looms.

Key takeaways

• April markup target for market-structure legislation: Hagerty said the banking committee is close to moving the CLARITY Act into a markup during the next work period, signaling a potentially decisive push in the coming weeks.
• Rebalancing crypto oversight to the CFTC: The draft framework envisions shifting primary regulatory oversight of crypto markets from the Securities and Exchange Commission to the Commodity Futures Trading Commission, reflecting a broader rethinking of how digital assets are regulated in the United States.
• Inter-committee dynamics complicate the timeline: The Agriculture Committee has already advanced its version of the bill in January, and the banking panel must hold its own markup before a potential floor vote, highlighting a multi-committee negotiation process.
• Industry players flag progress and risks: Coinbase chief legal officer Paul Grewal said lawmakers were “close to a deal” on stablecoin yield and related issues, underscoring that the negotiations are moving but still hinge on several contentious points.
• Crypto lobbying accelerates ahead of elections: With the 2026 midterms on the horizon, crypto-focused political action committees are mobilizing—Fairshake has reported a large war chest and influence ambitions, while the Fellowship PAC has appointed crypto-aligned leaders to key fundraising roles.

Regulatory architecture and interagency dynamics

The core idea behind the CLARITY Act—often referred to as a landmark crypto bill—would reframe how the United States oversees digital assets. By potentially elevating the CFTC as the lead supervisor for most crypto markets, while preserving certain securities/commodities distinctions, the bill aims to provide a clearer regulatory pathway for exchanges, issuers, and other market participants.

The legislation would not simply replace one regulator with another; it would require a coordinated push across major congressional committees. The agriculture panel has already signaled its support by advancing its version in a January markup, but the banking committee’s involvement remains pivotal because the bill’s broad scope touches both commodities and securities issues. The banking committee would need to complete its markup for the bill to reach the Senate floor, subject to further refinement and negotiations with the Agriculture Committee.

Earlier coverage noted that the agriculture committee’s version confronts topics such as tokenized equities, ethics concerns, and stablecoin yield—areas that have contributed to delays in the banking committee’s schedule. The interplay between SEC oversight, CFTC leadership, and the evolving treatment of tokenized assets adds a layer of complexity to any final package. Readers should note that related commentary from industry observers frames this as a critical juncture for how the United States could regulate the crypto market for years to come. Related reporting has highlighted optimism that the CFTC could oversee a broader swath of the market, should a comprehensive framework pass into law.

For market participants, the exact division of regulatory responsibilities matters because it shapes how exchanges operate, how asset classifications are determined, and how enforcement actions will be structured in the coming years. It also helps define whether new requirements—such as registration standards, reporting duties, or capital and conduct rules—apply uniformly across related crypto markets or are tailored to specific asset classes.

Political appetite and the broader electoral backdrop

The crosswinds of policy and politics are particularly salient this year as lawmakers weigh the potential impact of crypto regulation on electoral outcomes. Hagerty’s framing that there is still work to do and a sense of urgency ahead of the midterm cycle mirrors public remarks from other policymakers who have stressed the need for timely, predictable rules to reduce regulatory uncertainty for builders and investors alike.

Coinbase’s legal chief has echoed similar sentiment. Paul Grewal recently said lawmakers were “close to a deal” on stablecoin yield and other elements of the market-structure bill, signaling growing consensus on several core issues even as stalemates persist. This alignment between industry and lawmakers could help narrow the gaps, though significant policy hurdles remain to be resolved in the coming weeks.

Beyond Congress, political action committees with crypto ties have started to mobilize at scale. The Fairshake PAC, a crypto-backed group, reported spending substantial sums on media buys during the 2024 elections and has projected a sizable war chest for the 2026 midterms. Stand With Crypto, another advocacy coalition, has pointed to how the vote on the market-structure bill could influence crypto policy and, by extension, the 2026 electoral landscape. Stand With Crypto cites the broader strategic calculus around crypto policy and its potential impact on voters’ perceptions of lawmakers’ willingness to support the industry.

In another notable development, the Fellowship PAC—speaking on behalf of industry-aligned donors—announced the appointment of Jesse Spiro, a senior executive from the tether-backed ecosystem, as chair. The move underscores the intensifying choreography between policy debates and political fundraising as the 2026 cycle approaches.

Analysts and lobbyists say the outcome of these efforts could shape market sentiment and liquidity decisions for many market participants over the next 18 to 24 months. A clear, stable framework would reduce policy risk for exchanges and asset issuers, while overly fragmented or uncertain rules could slow innovation and push activity toward jurisdictions with clearer guidance.

What to watch next for traders and builders

For users, developers, and investors, the primary takeaway is that a more predictable regulatory regime could emerge if the banking committee marks up the CLARITY Act in April and advances it toward a floor vote. The next several weeks are crucial, as lawmakers negotiate terms on tokenized assets, stablecoins, ethics considerations, and how to coordinate oversight across multiple agencies.

Market participants should monitor committee activity, statements from House and Senate leadership, and comments from vocal industry groups and lobbying coalitions. The degree to which consensus can be reached on sensitive points—such as stablecoin yield, tokenized securities, and the proper distribution of regulatory authority between the SEC and the CFTC—will likely determine the policy’s momentum into the summer and beyond.

Another point of ambiguity remains the broader political calendar. With midterms approaching and crypto policy a potential differentiator for voters, the incentives for rapid progress could either accelerate or stall legislative activity depending on how negotiations unfold and how much leverage lawmakers perceive they have with stakeholders on both sides of the aisle.

In the near term, the market structure bill’s fate seems tethered to a blend of substantive policy compromises and political timing. If April proves decisive, a committee vote could pave the way for broader debate on the Senate floor. If negotiations stall, the path to a comprehensive framework could slip into the 2026 cycle, risking renewed policy drift and continued regulatory uncertainty for the industry.

As the process unfolds, investors and builders should stay alert to progress on the core sticking points—especially stablecoin yield and tokenized assets—as well as any shifting leadership roles within the relevant committees. The coming weeks will reveal not just whether a market structure bill can pass but how the United States intends to calibrate regulation in a rapidly evolving digital asset landscape.

Stay tuned for updates on committee markup schedules, voting timelines, and any new comments from lawmakers or industry groups as the debate over the digital asset market structure heats up in the spring.

Key Takeaways:

• What It Is: Circle’s post-quantum security roadmap for Arc covers wallets, signatures, validators, and offchain infrastructure across four phases through 2030.
• The Roadmap: Phase 1 launches opt-in quantum-resistant wallets and NIST-standard post-quantum signatures at mainnet; Phases 2–4 add private state encryption, validator security, and infrastructure hardening.
• The Algorithms: Arc targets NIST-finalized lattice-based schemes – CRYSTALS-Dilithium (ML-DSA) and Falcon – with transaction size increases of 2–10x initially, offset by hardware acceleration and algorithm optimization.
• The Threat Context: Current quantum hardware sits at 1,000–1,500 qubits; breaking ECDSA requires millions of error-corrected qubits – but active addresses that have already exposed public keys must migrate before Q-Day regardless of timing.
• What to Watch: Arc mainnet launch date confirmation and Phase 1 opt-in adoption rates among enterprise users – the first concrete test of whether quantum-resistance is a selling point or a friction point for USDC-native workflows.

Coinglass data shows Ethereum trapped in a tight “liquidation corridor,” with $1.414b in longs at risk below $2,040 and $889m in shorts exposed above $2,253.

If Ethereum (ETH) slides below $2,040, around $1.414 billion worth of long positions on major centralized exchanges could be forcibly liquidated, according to derivatives analytics platform Coinglass. The same data set indicates that a break above $2,253 would reverse the pressure, putting approximately $889 million in short exposure at risk of liquidation on mainstream CEXs. That leaves spot ETH trading in a narrow but dangerous corridor where a relatively modest price move can trigger outsized forced flows across futures venues.

In a recent Ethereum liquidation heatmap update, Coinglass described these bands as “price ranges where large‑scale liquidation events may occur,” highlighting how dense leverage clusters can create mechanical selling or buying once price crosses key thresholds. Earlier this month, a crypto.news story on ETH’s “trapdoor” setup noted that nearly $1.8 billion of combined long and short leverage sat between roughly $1,952 and $2,154, meaning that a 5–7% move could turn into a cascading wipeout for over‑levered traders. Another crypto.news story on liquidation “walls” between $2,057 and $1,863 cited Coinglass and ChainCatcher data showing shorts facing up to $928 million in liquidations above $2,057, with $454 million in longs vulnerable below $1,863.

At current levels, Coinglass estimates Ethereum’s open interest at more than $27.3 billion, underscoring how tightly coiled derivatives positioning has become relative to spot liquidity. In a separate Ethereum price story, crypto.news pointed out that ETH’s market capitalization was hovering near $247 billion with 24‑hour trading volumes above $13 billion, yet leverage pockets of $700–$800 million in either direction were enough to skew short‑term price action. Coinglass has warned that “liquidations play a crucial role in the cryptocurrency market, often causing sharp price movements and significantly impacting traders’ positions,” particularly when large clusters sit just a few percentage points away from spot.

The current configuration means that if ETH breaks below $2,040, long traders could face a $1.414 billion liquidation cascade that accelerates downside far beyond the initial move. Conversely, a breakout above $2,253 risks inflicting about $889 million in pain on shorts, potentially turning forced buying into a sharp short squeeze. For traders using high leverage on Ethereum, Coinglass’ maps, highlighted in multiple crypto.news stories on liquidation traps and walls, offer a stark risk warning: once price enters these bands, risk management becomes less about discretionary exits and more about surviving the next wave of forced unwinds.

More than $273 million in bearish crypto positions were unwound in under 24 hours on April 6, as reports of US-Iran ceasefire talks triggered a sudden and sharp shift in market sentiment.

Bears paid a heavy price on Monday. Bloomberg reported that roughly $273 million in bearish crypto bets were unwound within 24 hours, with short positions absorbing the vast majority of losses in a near 3-to-1 ratio over longs. The trigger was an Axios report that the US, Iran, and a group of regional mediators are discussing a potential 45-day ceasefire. Within hours of the report surfacing, risk assets snapped higher and over-leveraged bearish positions were forced to cover.

Bitcoin’s 24-hour range ran from $66,634 to $69,350, a $2,700 swing that caught the worst of the short positioning built up over the Easter weekend.

Ethereum led the major assets with a gain of 5.1%, the largest percentage move among top tokens and a direct reflection of how concentrated bearish exposure had become on the second-largest network. SOL added 2%, XRP climbed 2.2%, and ADA, AVAX, and LINK all posted double-digit increases in open interest alongside positive funding rates, extending the risk-on move well beyond Bitcoin.

The total crypto market cap crossed back above $2.5 trillion, recovering roughly $70 billion on the day.

Why the Short-Side Was So Crowded

Heading into the Easter break, sentiment had collapsed after weeks of escalating US-Iran war headlines and a string of ceasefire hopes that failed to convert into anything concrete. As crypto.news reported, the Bitcoin derivatives market had been sitting between a $1.143 billion long liquidation wall below $65,000 and a $754 million short pocket above $68,000. That structure left the market tightly wound and vulnerable to a sharp move in either direction.

Traders who had positioned for continued downside were essentially betting the $65,000 to $73,000 war range would hold or break lower. Monday’s ceasefire headlines upended that positioning in a matter of hours.

Open Interest Data Points to More Than a Squeeze

What separates Monday’s move from prior headline-driven spikes is how open interest behaved. In both Bitcoin and Ethereum, open interest climbed at a faster pace than spot prices, suggesting fresh capital flowing into the market rather than mechanical short covering alone. That distinction matters: a pure short squeeze exhausts itself quickly, while new capital entering can sustain a move.

As crypto.news noted in its analysis of Monday’s ceasefire developments, a confirmed deal could reduce oil prices and ease inflation pressures, improving the case for a more accommodative Federal Reserve stance. Caution remains warranted. Polymarket currently puts the odds of a ceasefire by April 30 at roughly 30%, and several major tokens including BCH and HYPE are still showing negative funding rates, signalling pockets of bearish positioning that have not yet been cleared.

JPMorgan (JPM) CEO Jamie Dimon said the bank must move faster to keep up with blockchain-based competitors as tokenization reshapes parts of the financial system, according to his annual letter to shareholders.

“A whole new set of competitors is emerging based on blockchain, which includes stablecoins, smart contracts and other forms of tokenization,” Dimon wrote, framing the technology as a direct challenge to traditional banking models.

He added that these technologies, alongside fintech firms, “may change the fundamental nature of how all this is done,” referring to core banking functions such as payments, trading and asset management.

Dimon’s response is not to dismiss the shift but to accelerate JPMorgan’s own efforts. “We need to roll out our own blockchain technology and continually focus on what our customers want,” he said.

The comments come as tokenization—turning assets such as money market funds, bonds or real estate into blockchain-based tokens—has become a central focus for both crypto firms and large financial institutions.

Major players, including BlackRock, Franklin Templeton and Goldman Sachs, have launched or tested tokenized funds in the past year. Crypto-native firms are also pushing into the space, offering blockchain-based versions of traditional financial products that run continuously and settle almost instantly.

JPMorgan has spent years building blockchain infrastructure through its Onyx unit, now branded Kinexys, with products designed to mirror core banking functions on new rails. Its flagship JPM Coin is a bank-issued stablecoin that enables institutional clients to move money instantly, replacing slower internal transfers. The bank has also pushed into tokenization of traditional assets, running pilots that turn instruments like government bonds and money market funds into blockchain-based tokens that can be transferred and used as collateral in near real time.

Dimon said the shift to blockchain-based versions of traditional products raises pressure on banks. Faster settlement can reduce fees tied to payments and trading, while tokenized systems can allow assets to move directly between users. Stablecoins, which act as digital dollars, also present a potential alternative to bank deposits.

Dimon did not endorse crypto assets like bitcoin BTC$69,793.18 in the letter, focusing instead on the underlying infrastructure and its impact on competition. He noted that clients are increasingly seeking guidance on areas such as “digital assets,” signaling growing institutional interest even as the bank remains cautious.

Beyond technology, Dimon struck a cautious tone on the economy. He warned that geopolitical tensions, including conflicts in the Middle East, could drive “significant ongoing oil and commodity price shocks” and lead to “stickier inflation and ultimately higher interest rates than markets currently expect.”

He also pointed to high asset prices and global debt levels as risks, suggesting markets may be underestimating potential volatility.

Still, the letter makes clear that emerging financial infrastructure—not just macro conditions—is shaping JPMorgan’s strategy. As tokenization gains traction, Dimon signaled that the bank sees the shift as structural, not cyclical.

Polymarket said it expects to roll out a new 1:1 USDC-backed collateral token in the coming weeks as part of a broader overhaul of its trading platform, according to a post on X.

The upgrade, described by the company as a “full exchange upgrade,” includes a rebuilt trading engine, updated smart contracts and a new collateral token called Polymarket USD. The token will replace USDC.e, a bridged version of Circle’s USDC stablecoin that originates on Ethereum (ETH) and is wrapped for use on other chains.

USDC.e acts as a stand-in for native USDC but relies on bridge infrastructure, which can introduce added risk and friction. By moving to its own collateralized token, one-to-one with USDC, Polymarket appears to be aiming for tighter control over settlement and liquidity.

The update follows earlier signals that a broader token strategy is in the works. In October, Polymarket’s chief marketing officer confirmed plans for a POLY token but did not provide a timeline or details on its function.

That token has yet to be formally unveiled. Still, its potential role has drawn attention.

Polymarket has long relied on UMA’s “optimistic oracle” to resolve market outcomes. In that system, users propose results and UMA token holders vote to settle disputes. The design rewards consensus, not accuracy, which critics say can leave outcomes open to influence by large token holders.

Recent controversies, including disputes tied to geopolitically themed markets, have exposed those limits. If POLY is used to internalize resolution, it could mark a shift toward in-house governance of truth.

Read more: Polymarket pulls controversial Iran rescue markets after intense backlash

One hypothetical model would separate trading from governance. Users would continue placing bets in stablecoins like Polymarket USD, while POLY (if launched) would handle dispute resolution and market curation. That split could allow the platform to price honesty independently from trading outcomes.

Polymarket’s push comes as it rebuilds its presence in the U.S. The platform shut down domestic operations in 2022 but registered with the Commodity Futures Trading Commission in July 2025. Since then, it has reported strong growth and a valuation above $20 billion.

The coming token launch and infrastructure changes suggest the company is tightening control over both trading and truth—two pillars that define prediction markets.

Read more: Prediction markets backlash builds possible stormcloud for 2027