Crypto World
Arbitrum Freeze Sparks $175 Million Laundering Frenzy on Ethereum
The attacker behind the $292 million KelpDAO exploit has begun laundering roughly 75,700 ETH, worth about $175 million, on Ethereum after the Arbitrum Security Council froze 30,766 ETH on Arbitrum One.
The freeze appears to have rattled the hacker into accelerating fund movements on the Ethereum mainnet.
Hacker Accelerates ETH Transfers Through UmbraCash
On-chain analyst EmberCN reported that several small ether (ETH) transfers have already gone through UmbraCash, a stealth address privacy protocol.
The fund-splitting strategy suggests the attacker is trying to obscure the trail before more assets can be frozen.
Arkham Intelligence data shows the hacker’s primary wallet still holds a significant ETH balance, with outflows routing through a secondary address tied to UmbraCash transfers.
Security Council Decision Draws Mixed Reactions
Offchain Labs co-founder Steven Goldfeder defended the council’s action, noting that the elected 12-member body required nine votes to act.
He stressed that the sequencer itself has no power to move funds and that the council operated independently from Offchain Labs and the Arbitrum Foundation.
However, some community members raised concerns. One user questioned whether a compromised council could seize any on-chain funds, highlighting the tension between emergency powers and decentralization.
“If i understand correctly, if the arbitrum security council gets compromised they can just do whatever they want to all of the funds on chain?” they posed.
In the same tone, crypto executive Justin Sun trolled the Arbitrum governance debate, highlighting the Tron DAO as the most decentralized blockchain.
Notwithstanding, KelpDAO thanked the council and credited SEAL 911 for coordinating the response. The protocol said its focus remains on supporting rsETH holders affected by the April 18 exploit.
The post Arbitrum Freeze Sparks $175 Million Laundering Frenzy on Ethereum appeared first on BeInCrypto.
BitMEX, a derivatives-focused cryptocurrency exchange, said it has secured a custody partner to enable asset segregation and trading with off-exchange assets.
The company announced Tuesday a partnership with Zodia Custody to allow traders to access derivatives while keeping collateral in segregated custody. The integration is immediately accessible via Interchange, Zodia Custody’s off-venue settlement solution.
BitMEX CEO Stephan Lutz told Cointelegraph the move reflects lessons from past market failures, including the FTX collapse and the $1.4 billion Bybit hack, which exposed risks tied to unsegregated or compromised exchange-held funds.
“Cases like the FTX collapse and the Bybit hack are examples of how custody failures or security threats can put client funds at risk,” Lutz said.
Trading without prefunding the exchange
Under the integration, institutional and professional BitMEX clients can trade derivatives without transferring assets directly onto the exchange. Instead, collateral remains in Zodia’s segregated vault and is mirrored for trading execution.
This structure allows traders to maintain control of assets while accessing BitMEX’s derivatives, including perpetual swaps and futures. It also supports cross-collateral usage of Bitcoin (BTC), Ether (ETH), Tether USDt (USDT) and USDC (USDC).
This setup is designed to improve capital efficiency for traders by removing the need to move assets between custody and exchange accounts. It also reduces operational risk tied to pre-funding workflows, which are common in traditional crypto trading models.
Custody is a core part of traditional finance markets
Zodia Custody, which launched in 2021 and is backed by Standard Chartered, is an institutional digital asset custody provider operating globally. The platform secured a Markets in Crypto-Assets Regulation (MiCA) authorization in Luxembourg in late 2025, enabling regulated services across the European Union.
BitMEX CEO noted that custody has long been a core element of traditional finance, becoming even more critical following collapses like FTX and security incidents like the Bybit hack.
Related: Zonda exchange says 4.5K BTC wallet inaccessible amid withdrawal crisis
“Custody is a core part of traditional finance markets, and recent cases like FTX and Bybit are clear examples of why it’s even more important in crypto,” Lutz said.
“As the industry matures, institutions are trading digital assets like any other asset — and should have access to the same services as they do in traditional markets,” he added.
Additional reporting by Felix Ng.
Magazine: Adam Back says current demand is ‘almost’ enough to send Bitcoin to $1M
Key Highlights
- Q1 earnings per share reached $6.14, surpassing Wall Street’s $6.05 projection by $0.09
- Quarterly revenue totaled $9.88 billion, marking a 4% year-over-year increase and exceeding the $9.76 billion forecast
- The Aeronautics Systems division reported a 17% sales increase, fueled by B-21 bomber and Sentinel program growth
- Operating profit jumped 73% to $989 million while segment margins expanded to 10.8%
- Shares declined approximately 1.6% during premarket hours despite beating estimates, with unchanged annual projections
Northrop Grumman delivered impressive first-quarter 2026 results that exceeded analyst expectations across key metrics, yet the defense contractor’s shares retreated during Tuesday’s early market session.
The company reported earnings per share of $6.14, comfortably above the Street’s $6.05 consensus target. Quarterly sales reached $9.88 billion, reflecting a 4% increase compared to the $9.47 billion recorded in the same period last year, and beating the anticipated $9.76 billion mark.
The Aeronautics Systems division emerged as the standout performer, with revenue soaring 17%. This substantial growth stemmed from a recently secured agreement with the U.S. Air Force that accelerates B-21 bomber manufacturing capacity alongside expedited deployment of the Sentinel intercontinental ballistic missile program’s initial operational capability.
Northrop Grumman Corporation, NOC
Operating profit experienced a remarkable 73% surge to $989 million during the quarter. The company’s operating margin expanded significantly to 10.0% from the prior year’s 6.1%. This dramatic improvement was primarily attributed to the elimination of a $477 million charge related to the B-21 program that had negatively impacted first-quarter 2025 financial performance.
Segment operating profit climbed 89% to $1.07 billion, while segment operating margins improved substantially from 6.0% to 10.8%.
The defense contractor secured $9.8 billion in net new contract awards throughout the quarter. The company’s total backlog now stands at an impressive $95.6 billion — representing more than double its annual revenue.
Organic revenue growth registered at 5% on a year-over-year basis.
Full-Year Projections Remain Unchanged
Northrop maintained its previously issued 2026 full-year guidance without modification. Management continues to anticipate total sales between $43.5 billion and $44.0 billion, with MTM-adjusted earnings per share projected in the $27.40 to $27.90 range.
Current analyst consensus sits at approximately $28 for EPS — positioned above the company’s upper guidance threshold. Notably, when the defense contractor initially provided guidance in January, Wall Street expectations were hovering around $29.
The company reaffirmed its free cash flow target of $3.1 billion to $3.5 billion for the year. Segment operating income guidance remains between $4.85 billion and $5.0 billion.
Chief Executive Kathy Warden characterized the quarterly performance as evidence of the organization’s capability to execute amid “today’s unprecedented global demand environment.”
Market Response
Notwithstanding the earnings beat, NOC shares declined roughly 1.6% during premarket activity to $646.67. Meanwhile, both S&P 500 and Dow Jones Industrial Average futures were trading higher during the same timeframe.
The stock had already appreciated 15% year-to-date prior to Tuesday’s announcement, and approximately 24% over the trailing twelve-month period. Shares currently command a forward price-to-earnings multiple of about 23 times, elevated from roughly 19 times one year earlier.
This premium valuation level may help explain why a solid quarterly earnings performance failed to generate positive momentum for the stock, particularly given the company’s decision to maintain rather than raise its full-year outlook.
Tether just dropped a 1 billion USDT on Ethereum just as the memecoin scene in the chain is heating up. Arkham Intelligence flagged the event just shortly after Bitcoin pushed past $76,000. Following this, the Total USDT supply now stands at $193 billion, dominating the $320 Billion stablecoins size by 58%.
Institutional capital is moving, and Tether mints of this scale historically precede accelerated exchange inflows. The market is watching where this billion lands.
Discover: The best crypto to diversify your portfolio with
Is Tether 1 Billion USDT Mint a Reliable Liquidity Signal for On-Chain Trading?
Glassnode’s USDT Holder Accumulation Ratio sits at 57.63%, above the 50% threshold that indicates net accumulation by holders. Onchain Lens noted this mint as a precursor to heightened on-chain activity, with tokens expected to flow rapidly toward exchanges and DeFi platforms once deployed.
Transaction volume data reinforces the dominance picture. USDT’s volume of $484.17 billion already surpasses USDC’s $319.2 billion, a $164.97 billion gap that reflects USDT’s stranglehold on crypto payments infrastructure. Tron’s low-fee environment (driving 50%+ USDT network dominance) makes rapid deployment operationally straightforward once Ardoino’s team activates the inventory.
Institutional momentum is building, but the question is whether deployment timing aligns with the current sentiment window.
Discover: The best pre-launch token sales
Maxi Doge Eyes Big Upside as USDT Liquidity Hunts Yield
When $1 billion in fresh stablecoin liquidity enters the ecosystem, it doesn’t sit idle. History shows it finds its way into high-beta plays, and meme tokens with active communities tend to capture disproportionate inflows during liquidity expansion windows.
Maxi Doge ($MAXI) is positioned squarely in that window. Built on Ethereum as an ERC-20 token, the project combines meme-first marketing with structural utility: holder-only trading competitions with leaderboard rewards, a Maxi Fund treasury for liquidity and partnerships, and dynamic staking APY.
The presale has raised $4.7 million at a current price of $0.0002814. Memecoin activity on Ethereum is picking up alongside rising USDT liquidity. It’s the timing that $MAXI’s community is watching closely.
Research Maxi Doge before the next price tier moves.
The post Tether Minted 1 Billion USDT: On-chain Trading Grinding Back appeared first on Cryptonews.
Singapore banking giant OCBC just put institutional-grade gold on-chain (Solana), and the RWA market didn’t flinch. But what does it mean for Solana price in April 2026, and could a new Bitcoin layer-2 be next for a RWA boom?
OCBC, one of Southeast Asia’s largest financial institutions, launched its GOLDX token on both Ethereum and Solana in partnership with Lion Global Investors and digital asset exchange DigiFT. The underlying fund, the LionGlobal Singapore Physical Gold Fund, held approximately $525 million in AUM as of April 16.
Institutional investors and hedge funds can subscribe using stablecoins or fiat, with tokens delivered directly to on-chain wallets.
Kenneth Lai, head of global markets at OCBC, called it “a milestone in the corporation’s blockchain-focused approach.”
Meanwhile, Solana’s tokenized gold volume had already surged 290%, processing 25.5 million tokens amid CLARITY Act optimism, a context that makes OCBC’s chain selection look less like a coincidence and more like a calculated bet.
Total tokenized real-world assets on public blockchains now exceed $29 billion, up over 10% in the last 30 days. That growth rate is attracting serious infrastructure attention, and not just on Ethereum and Solana.
Discover: The best pre-launch token sales
Can Solana Price Break Out as RWA Momentum Builds?
SOL looks active on the surface, but the price action tells a different story; this is not a breakout, it is compression with real participation, which usually means supply has not fully cleared yet.
That $78 to $80 zone is doing all the work right now, because as long as it holds, the structure stays intact and buyers are still defending, but it is not strong enough yet to push higher.
The problem is overhead, with $92 to $95 acting like a ceiling every time the price gets close, so until that breaks, this is still a range, not a trend.
If SOL can finally clear that zone with momentum, that is where things open up toward $110 and the next leg starts forming, especially if institutional narratives keep building.
But realistically, this still looks like a grind between $80 and $92 while the market builds a base and waits for a broader alt move.
The risk is if $78 breaks on volume, because that is where the structure weakens, and the price can slip back toward the low $70s, which does not kill the long-term story but definitely delays it.
And the bigger point people miss is that at this size, moves are slower and more measured, you are not getting easy 10x runs here, you are looking at more controlled upside, which is why smaller plays start attracting attention when SOL stalls like this.
Discover: The best crypto to diversify your portfolio with
Bitcoin Hyper Eyes the RWA Infrastructure Gap Bitcoin Itself Can’t Fill
Here’s the structural irony: Bitcoin holds the deepest liquidity, the strongest institutional trust, and the most recognizable security model on the planet, yet it cannot run the smart contracts that make tokenized gold, tokenized equities, or any programmable RWA function.
Solana can. Ethereum can. Bitcoin, natively, cannot. That gap is precisely what Bitcoin Hyper (HYPER) is engineering around.
Bitcoin Hyper positions itself as the first Bitcoin Layer 2 with Solana Virtual Machine (SVM) integration, bringing sub-second smart contract execution to the Bitcoin ecosystem without sacrificing Bitcoin’s base-layer security.
Think Solana-speed programmability, anchored to Bitcoin’s settlement guarantees (a combination that hasn’t existed before).
The project features an extremely low-latency Layer 2 processing architecture, a Decentralized Canonical Bridge for native BTC transfers, and high-speed, low-cost transaction execution, which the team claims outperforms Solana on throughput metrics.
The presale has now raised $32,466,226.06 at a current price of $0.0136789 per $HYPER, with staking available at a high APY for early participants.
The raise trajectory has been consistent, reflecting sustained demand from participants who want BTC-native infrastructure exposure ahead of any RWA catalyst. Presales carry real risk, tokens are pre-launch, and liquidity is unproven.
That caveat stands. But for traders who watched Solana capture the institutional tokenization narrative, the question of which Bitcoin Layer 2 captures the next leg deserves serious research.
Explore Bitcoin Hyper’s presale details here.
The post Tokenized Gold Lands on Solana: Is Bitcoin Layer 2 Next For RWA Boost? appeared first on Cryptonews.
Fraudsters posing as Iranian authorities have targeted shipping firms with crypto-based demands to secure passage through the Strait of Hormuz, according to maritime risk outfit Marisks.
Marisks said unknown groups contacted shipowners claiming to represent Iran’s security services and demanded payment in Bitcoin or USD Tether in exchange for transit clearance, after requesting verification documents first. Reuters reported on the scam messages, noting they did not originate from Iranian authorities; Tehran has not publicly commented.
The warnings come as the Strait of Hormuz remains largely closed amid regional hostilities. The strait, a critical conduit for global energy shipments, previously handled roughly one-fifth of the world’s oil and LNG before the latest flareups. Earlier this month, Cointelegraph reported that Iran was considering tolls payable in BTC for ships passing through Hormuz, with empty tankers allowed free passage while others could be charged about $1 per barrel of oil.
Key takeaways
- Marisks warns that scams impersonating Iranian security services are soliciting crypto payments (BTC or USDT) for Hormuz transit, accompanied by requests for verification documents.
- The messages are not sourced from official Iranian authorities, according to Marisks and Reuters; Tehran has not publicly commented on the claims.
- The Strait of Hormuz remains largely closed amid Middle East hostilities, underscoring the vulnerability of global energy flows at this chokepoint.
- Sanctions risk looms large: payments tied to Iranian waterways could be treated as material support, with potential violations of US and international sanctions.
- This episode highlights the broader debate about crypto’s role in sanctioned regimes and the regulatory risks for shipping and crypto actors alike.
Crypto tolls, scams and the geopolitics of Hormuz
The messages described by Marisks present a classic manipulation: a supposed security clearance tied to a crypto payment, followed by a claim that transit will be allowed at a pre-arranged time once verification steps are completed. In at least one cited instance, the channel suggested Iranian security services would assess eligibility before determining the crypto payment in BTC or USDt. Marisks noted that a vessel recently targeted by gunfire while attempting to exit the strait may have received such instructions, though this has not been independently verified. Cointelegraph reached out to Marisks for comment but did not receive an immediate reply.
The episode arrives against a backdrop of wider geopolitical tension around Hormuz. Al Jazeera reported the Strait’s continued closures amid the conflict, a development that raises the stakes for insurers, operators and lenders who rely on predictable access to global energy markets. The strategic chokepoint remains a focal point for policy and risk assessment as regional dynamics evolve.
In earlier reporting, Iran was described as weighing crypto-based tolls to monetize navigation through Hormuz—an approach that would tilt the balance between open sea lanes and sanctioned finance. Cointelegraph’s coverage noted debates over BTC and USDt as potential toll instruments, reflecting a broader conversation about crypto’s utility in sanctioned economies and the practical risks for those who accept crypto payments under duress or misrepresentation. See the prior analysis on Iran’s crypto toll discussions for additional context.
Sanctions risk and what it means for operators
Beyond operational risk, industry analysts warn of serious compliance implications. Chainalysis senior intelligence analyst Kaitlin Martin told Cointelegraph that any payments tied to Iranian-controlled waterways could constitute “material support,” potentially violating US and international sanctions targeting entities linked to the Islamic Revolutionary Guard Corps. The warning underscores that crypto payments conditioned on access to strategic corridors can create exposure well beyond the immediate toll itself.
These developments sit at the intersection of geopolitical maneuvering and evolving crypto policy. Iran’s interest in leveraging digital currencies for energy transit has been debated in crypto policy circles, with discussions weighing potential benefits against the entrenched sanctions regime. For readers seeking deeper background, coverage exploring Iran’s BTC and USDt toll dynamics remains a pertinent companion piece.
As authorities surveil illicit use of crypto in restricted corridors, shipowners, operators and their counterparties will be watching for official guidance on sanctions enforcement and any regulatory clarifications related to crypto-enabled tolls. The risk environment around Hormuz—already shaped by conflict, insurance considerations and the reliability of communications—adds another layer of complexity for the global maritime and crypto communities.
Watch for formal statements from regulatory bodies and industry associations as this situation unfolds. The next steps will likely hinge on how sanctions enforcement perspectives evolve and whether crypto-based toll proposals advance or recede amid ongoing geopolitical tensions.
Ripple has introduced a four-phase roadmap to make the XRP Ledger quantum-resistant by 2028.
Summary
- Ripple plans a four-phase XRP Ledger upgrade to reach quantum-resistant security standards by 2028.
- The roadmap includes 2026 testing, validator benchmarks, custody prototypes, and a final native amendment.
- Ripple linked the plan to rising concern over future quantum attacks on blockchain cryptography.
The plan responds to growing concern that advances in quantum computing could weaken the cryptography used across blockchain networks.
Ayo Akinyele, senior engineering director at RippleX, detailed the roadmap in a company blog post. The plan starts with a “Quantum-Day” contingency that would block classical signatures and direct users to quantum-safe accounts if current cryptography fails unexpectedly.
Ripple said the next two phases will take place during 2026. Those stages will focus on testing quantum-resistant algorithms recommended by the National Institute of Standards and Technology.
The final phase would add a native amendment to the XRP Ledger by 2028. That step is intended to bring quantum-resistant protections directly into the network’s core design.
Ripple said phases two and three will include technical testing and infrastructure work. The company is working with research firm Project Eleven on validator benchmarks and an early custody wallet prototype.
The testing phase aims to measure how quantum-safe algorithms perform under real network conditions. It also gives Ripple time to review how those tools can fit into validator operations and custody systems before a broader rollout.
Ripple’s timeline places much of the development work ahead of the final implementation target. The company said its approach is designed to prepare the ledger before quantum computing becomes a direct threat to blockchain security.
The roadmap also arrives one year before Google’s 2029 post-quantum cryptography target mentioned in the report. That comparison puts Ripple’s deadline earlier than one benchmark often cited in the wider technology sector.
Focus turns to long-term cryptography risk
Ripple linked the plan to the “harvest now, decrypt later” threat. That risk refers to attackers collecting public-key data today and waiting until quantum machines become strong enough to break it later.
The company said this issue matters for long-term holders whose public-key information may remain exposed over time. Recent Google Quantum AI research, cited in the report, found that about 500,000 physical qubits could derive a private key from an exposed public key in nine minutes.
That estimate marked a sharp reduction from earlier assumptions about the resources needed for such an attack. As a result, blockchain developers are giving more attention to how current networks can prepare for future cryptography risks.
XRP Ledger feature may support the transition
Ripple said the XRP Ledger has one built-in feature that could help during the transition. Unlike Ethereum, XRPL supports native key rotation, which allows users to replace vulnerable keys without moving their funds.
That design may make it easier for holders to respond if existing signature methods become unsafe. It also gives the network a direct way to manage account security without forcing full asset transfers during a migration.
The report added that more than 6.9 million Bitcoin sit in wallets with exposed public keys. XRP traded near $1.43 on Monday, up about 7% over the week as the broader crypto market moved higher.
Disclosure: This article does not represent investment advice. The content and materials featured on this page are for educational purposes only.
BYDFi marks rapid global growth with 1M users and multiple industry recognitions.
Summary
- BYDFi serves 1M+ users in 190+ countries, offering spot, futures, bots, and web3 trading.
- The platform added tokenized stocks, forex, and gold trading in USDT, expanding beyond crypto markets.
- BYDFi strengthens trust with proof-of-reserves, an 800 BTC protection fund, and a Ledger wallet partnership.
Overview
Website
https://www.bydfi.com
Founded
2020
Sector
Hybrid crypto exchange (CEX + DEX)
Registered Users
1,000,000+
Countries
190+
Spot Trading Pairs
1,000+
Derivatives Pairs
500+
Maximum Leverage
200x
KYC Requirement
No mandatory KYC
Key Recognition
Official Crypto Exchange Partner of Newcastle United (2025–Present)
What is BYDFi?
Launched in April 2020, BYDFi is a global cryptocurrency trading platform operating under the vision “BUIDL Your Dream Finance.” In just over five years, it has grown to serve more than 1,000,000 registered users across 190+ countries and regions, offering a broad suite of trading tools that spans spot markets, perpetual futures, copy trading, automated bots, and on-chain trading through its proprietary web3 engine, MoonX.
BYDFi has received multiple industry recognitions, including being ranked among the top global crypto exchanges by Forbes in 2023, as well as earning the Trusted Exchange Award 2025 from TrustFinance and being named Best Centralized Exchange (CEX) by BeInCrypto in 2025. The platform is also featured among the top 100 crypto exchanges by Coingecko.
One of BYDFi’s more distinctive moves came in 2025, when it announced a multi-year partnership with Newcastle United, becoming the Premier League club’s Official Crypto Exchange Partner. The partnership is a signal of its ambitions to grow its mainstream brand presence internationally.
Features
BYDFi’s feature set is one of the most comprehensive in the industry. Traders looking for derivatives exposure will find 500+ perpetual contract pairs with leverage up to 200x, which is notably higher than rivals like Binance (125x) and Bybit (100x). The platform supports USDT-margined, USDC-margined, and coin-margined futures, giving traders more flexibility in how they manage collateral.
A standout addition in 2026 is TradFi trading — the ability to trade tokenized stocks (AAPL, TSLA, AMZN, MSFT, and others), forex pairs, and commodities like Gold (XAUUSD), all settled in USDT with zero trading fees. This blurring of the line between crypto and traditional finance is a differentiator that few exchanges can claim.
For newcomers, BYDFi offers a demo account loaded with 50,000 USDT, allowing risk-free practice under real market conditions with full access to derivatives tools and leverage settings. Copy trading and a bot marketplace round out the toolkit, letting beginners mirror professional strategies without needing deep market expertise.
MoonX, BYDFi’s on-chain trading engine, supports Solana, BNB Chain, and Base, and comes with features including token safety indicators, copy trading, portfolio tracking, and a token launch platform called Pump. This gives the platform a genuine CEX+DEX dual-engine architecture, a model that few centralized exchanges have pursued as directly.
Security is addressed through a combination of over 1:1 proof-of-reserves (with periodic public reports), an 800 BTC protection fund added in September 2025, cold storage for the majority of user assets, multi-party transaction approvals, and segregated client accounts. In February 2025, BYDFi also launched a co-branded hardware wallet through a partnership with Ledger.
Pros and Cons
Among BYDFi’s clearest strengths is its no-KYC policy. Users can register with just an email address and immediately access the full range of spot, derivatives, copy trading, bot, and on-chain features. This is a significant advantage for privacy-conscious traders or those in regions where verification processes are slow or complex. Optional KYC unlocks higher withdrawal limits and P2P trading access.
The platform supports multiple languages to assist its global user base. It supports 22 languages and offers 24/7 live customer support, both in-app and on its website.
On the downside, the breadth of BYDFi’s product lineup can feel overwhelming at first glance. New users may need time to navigate between spot, derivatives, TradFi, MoonX, and the various bot strategies before finding their footing. The no-KYC approach, while appealing to some, also raises questions about long-term regulatory positioning as compliance requirements tighten globally.
Conclusion
BYDFi has quietly built one of the more feature-rich trading environments in the crypto space. From 200x leverage and TradFi integration to on-chain meme trading and an 800 BTC protection fund, it has made deliberate product choices that set it apart from generic exchange alternatives. Recognized by both Forbes and Crypto Expo Europe 2026’s Best All-in-One Crypto Trading Platform, it has earned external validation to match its internal ambitions. For traders who want more tools under one roof, without the friction of mandatory identity verification, BYDFi is a platform worth serious consideration.
Disclosure: This content is provided by a third party. Neither crypto.news nor the author of this article endorses any product mentioned on this page. Users should conduct their own research before taking any action related to the company.
Kevin Warsh, former member of the Federal Reserve Board of Governors.
Courtesy: Hoover Institution
Federal Reserve chair nominee Kevin Warsh travels to Capitol Hill on Tuesday to convince lawmakers he can carry out a presidential push for lower interest rates while remaining free of political constraints in setting policy.
In a much-anticipated hearing before the Senate Banking Committee, the former Fed governor will face questioning over a variety of subjects, from monetary policy to banking regulation to his own complicated personal finances
None likely will be more important than establishing the boundaries between the Fed’s decision-making and politics.
“He has a tricky communication question,” said Bill English, a professor at the Yale School of Management and the Fed’s director of monetary affairs from 2010-15, a period that overlapped with Warsh’s time there.
“I suspect that the way he’ll handle that is by being clear that his views are that rates can likely go lower, maybe a fair amount lower,” English said. “But at the same time, when asked directly about independence, be clear that he values independence. He thinks that independence is important and that a less independent Fed in the medium and long term would be a bad thing for the country.”
Political independence has been a key question surrounding the search for a successor to current Chair Jerome Powell.
Warsh views on independence
In remarks he’s scheduled to deliver to the committee at the hearing’s start, Warsh issued a qualified endorsement of Fed independence.
“So let me be clear: monetary policy independence is essential. Monetary policymakers must act in the nation’s interest, their decisions the product of analytic rigor, meaningful deliberation, and unclouded decision-making,” he said in prepared text.
However, he noted that doesn’t believe independence is endangered when the central bank’s actions are questioned by elected leaders, and said “the Fed must stay in its lane” and not veer into “fiscal and social policies where it has neither authority nor expertise.”
Warsh likely will face a bevy of questions about his political allegiance to President Donald Trump, who made no secret that a willingness to lower interest rates was a litmus test for his nominee. Trump nominated Warsh in late January, following a lengthy search process that included nearly a dozen candidates.
Congressional Democrats, including ranking member Sen. Elizabeth Warren, D-Mass., are expected to push the nominee on the independence question, as well as raise questions over his finances.
If confirmed, Warsh would easily be the wealthiest Fed chair in the central bank’s 113-year history. Disclosures filed ahead of the hearing indicate he would have to divest himself of a significant level of holdings to be in compliance with what have become strict Fed rules on where senior officials are allowed to invest.
Warren met with Warsh on Thursday and left with “deep concerns that if he is confirmed, he will be Donald Trump’s sock puppet.” She also alleged that Warsh had not disclosed “more than $100 million in assets.”
The nomination itself may take a while to get out of committee independent of any concerns about Warsh’s views.
Sen. Thom Tillis, R-N.C., has vowed to hold up the nomination until an investigation is completed from the U.S. Attorney’s Office in Washington, D.C. into renovations at Fed headquarters. A court overturned U.S. Attorney Jeanine Pirro’s subpoena of Powell, but she has vowed to appeal.
White House officials are confident Warsh ultimately will meet the approval of the committee, where Republicans hold a 12-10 advantage.
“My expectation is that after everybody sees him in his hearing and sees how deft on his feet he is, how knowledgeable about the Fed he is, and how good his ideas are about returning the Fed towards a place where it’s nonpartisan, that it’s going to be hard to resist voting ‘yes,’” National Economic Council Director Kevin Hassett said Monday on CNBC.
Forging consensus
Once in office, Warsh will head a Federal Open Market Committee populated with officials who have expressed misgivings about the next steps in monetary policy. While markets expect the committee to be on hold the rest of the year, officials themselves still have penciled in a cut and Warsh has expressed support for lower rates as well.
Warsh will “come in with an idea of what he would like to think about and do, and then the economy will deliver what we actually work on,” San Francisco Fed President Mary Daly said last week. “You work with the economy you have, and you plan for the economy that you’re supposed to achieve.”
As for his approach beyond rate-setting, Warsh last year called for regime change at the Fed and charged that current officials have a “credibility deficit” that he wants to fix.
English, the former Fed official, said his experience with Warsh was one who could work with others, a quality needed at the consensus-driven central bank.
“He was not somebody who was really difficult for the other policymakers or for the staff or for anybody to work with,” English said. “So I’m not sure he’s going to go in and really try to shake things up right away without moving the other policy makers along. To move them along, he’s going to have to be making arguments and making his case in a reasonable way.”
Fraudulent actors posing as Iranian authorities have reportedly sent messages to shipping companies whose vessels remain stranded west of the Strait of Hormuz, demanding payment in cryptocurrency for safe passage.
On Monday, maritime risk company Marisks issued a warning saying unknown groups had contacted shipowners claiming to represent Iranian security services and requesting transit “fees” in Bitcoin (BTC) or USDt (USDT) in exchange for clearance through the strait, according to Reuters.
“These specific messages are a scam,” Marisks reportedly said, adding that they do not originate from Iranian authorities. Tehran has not publicly commented on the claims.
The alerts come as the strategic waterway remains largely closed following the outbreak of conflict in the Middle East. The Strait of Hormuz, a critical chokepoint for global energy flows, previously handled around one-fifth of the world’s oil and liquefied natural gas exports before hostilities escalated in the region.
Earlier this month, reports said Iran was considering charging ships passing through the Strait of Hormuz a tariff payable in Bitcoin, with empty tankers allowed free passage while others could be charged around $1 per barrel of oil.
Related: Iran views BTC as strategic asset, but USDt still dominates oil tolls: BPI
Crypto “transit fee” scam demands verification docs
The reported scam messages instruct recipients to submit documentation for verification before being assigned a “fee” payable in cryptocurrency, after which safe transit would allegedly be granted at a pre-agreed time.
In one example cited by Marisks, the message stated that Iranian security services would assess eligibility before determining payment in BTC or USDt, framing crypto transfers as a condition for unimpeded passage.
The company also suggested that at least one vessel recently targeted by gunfire while attempting to exit the strait may have received such fraudulent instructions, though the information has not been independently verified.
Cointelegraph reached out to Marisks for comment but did not receive an immediate response.
Related: Bitcoin community weighs in on reports of Iran’s crypto toll for oil ships
Crypto payments to Iran could trigger sanctions risks: Chainalysis
Shipping companies considering paying transit fees in cryptocurrency to Iran could face serious sanctions exposure, according to Chainalysis senior intelligence analyst Kaitlin Martin.
She told Cointelegraph that any payments linked to Iranian-controlled waterways could be treated as “material support,” potentially violating US and international sanctions targeting entities such as the Islamic Revolutionary Guard Corps.
Magazine: Bitcoin will not hit $1M by 2030, says veteran trader Peter Brandt
Crypto World
Pavel Durov, Elon Musk Accuse EU/UK of Using “Child Safety” to Pressure Social Media CEOs
Telegram founder Pavel Durov accused EU and UK authorities of offering social media CEOs secret deals to suppress dissent, claiming “child protection” serves as cover for censorship. X (Twitter) owner Elon Musk publicly backed him.
Durov’s statements came the same day French prosecutors summoned Musk for a voluntary interview over allegations that X facilitated child abuse material and deepfakes.
Durov Claims Regulators Use Children as PR Shield
In a series of posts, Durov laid out what he described as a pattern across European governments. He alleged that authorities first approach platform CEOs with informal agreements to restrict content.
Those who refuse face criminal proceedings justified under child protection laws.
“When people push back, say it’s “all for the children”. “Protecting children” has become the standard legal/PR cover,” Durov expressed.
Further, Durov argues that child safety rhetoric exploits parental instincts to bypass critical thinking about surveillance and digital rights.
Durov himself was arrested at a Paris airport in August 2024 and indicted on 12 charges, including alleged complicity in distributing child exploitation material.
His travel ban was lifted in November 2025, though the investigation continues. He recently revealed he faces more than a dozen charges, each carrying up to 10 years in prison.
Musk responded by agreeing with Durov’s criticism. He separately dismissed the French probe into X as a “political attack.”
The US Department of Justice rejected France’s request for assistance, calling it an effort to “entangle the United States in a politically charged criminal proceeding.”
The exchange followed UK Prime Minister Keir Starmer’s April 16 meeting at Downing Street, where he warned executives from X, Meta, Snap, YouTube, and TikTok that banning children from their platforms would be “preferable to a world where harm is the price” for social media use.
“I know parents are worried about social media and its impact on their children’s safety. They rightly expect fast action. Today, I’m calling on senior leaders from X, Meta, Snap, YouTube and TikTok to step up. I will do whatever it takes to keep children safe online,” Starmer articulated.
Whether European regulators are protecting children or consolidating control over digital platforms will likely remain contested as France’s investigation into X and Durov’s ongoing case both advance in the months ahead.
The post Pavel Durov, Elon Musk Accuse EU/UK of Using “Child Safety” to Pressure Social Media CEOs appeared first on BeInCrypto.
Man sees the funny side after hot air balloon carrying 13 people lands in his garden | News US
JFB Construction stock rises on XTEND defense contract win
BitMEX Enables Off-Exchange Trading Via Zodia Custody
Manchester United reach agreement with Casemiro over contract clause amid transfer speculation
Steven Gerrard disagrees with Gary Neville over ‘shock’ Chelsea and Arsenal claim | Football
US brings back mandatory military draft registration
-
News Videos6 days agoSecure crypto trading starts with an FIU-registered
-
Fashion4 days agoWeekend Open Thread: Theodora Dress
-
Sports4 days agoNWFL Suspends Two Players Over Post-Match Clash in Ado-Ekiti
-
Politics4 days agoPalestine barred from entering Canada for FIFA Congress
-
Business2 days agoPowerball Result April 18, 2026: No Jackpot Winner in Powerball Draw: $75 Million Rolls Over
-
Crypto World4 days agoRussia Pushes Bill to Criminalize Unregistered Crypto Services
-
Politics15 hours agoGary Stevenson delivers timely reminder to register to vote as deadline TODAY
-
Tech2 days agoAuto Enthusiast Scores Running Tesla Model 3 for Two Grand and Turns It Into Bare-Bones Go-Kart
-
Business5 days agoCreo Medical agree sale of its manufacturing operation
-
Politics2 days agoZack Polanski demands ‘council homes not luxury flats for foreign investors’
-
Tech5 days ago‘Avatar: Aang, The Last Airbender’ Leaked Online. Some Fans Say Paramount Deserves the Fallout
-
Crypto World4 days agoRussia Introduces Bill To Criminalize Unregistered Crypto Services
-
Tech6 days agoMicrosoft adds Windows protections for malicious Remote Desktop files
-
Entertainment6 days agoDave Portnoy Slams Dianna Russini: ‘Makes Zero Sense’
-
Crypto World6 days agoX Launches New Cashtag Feature for Stocks and Crypto: X
-
Sports5 days agoBritish climbers complete new route in Swiss Alps
-
Sports7 days agoYounger Than Sachin Tendulkar: Vaibhav Sooryavanshi Set To Make Historic India Debut
-
Entertainment7 days agoPrince Carter Brings Fans Front Row and Backstage at Boys 4 Life Tour
-
Crypto World6 days agoBitcoin surpasses halfway mark in current halving cycle
-
Entertainment2 days ago
NBA Analyst Charles Barkley Chimes in on Ice Spice McDonald’s Fiasco
You must be logged in to post a comment Login