Crypto World
Bitget brings pre-IPO tokens to masses starting with SpaceX shares on Solana
Crypto exchange Bitget rolled out a new platform offering tokenized exposure to private companies, starting with an asset linked to SpaceX, as firms push to bring early-stage investing onto blockchain rails.
The platform, called IPO Prime, allows users to subscribe to tokens that track the economic performance of companies before they go public. Its first listing, preSPAX, is tied to Elon Musk’s space and artificial intelligence firm and is issued through Republic, an investment platform specializing in private markets, with tokens minted on the Solana blockchain.
Trading began after a short subscription window, giving users near-immediate liquidity. That marks a break from traditional pre-IPO investing, where stakes in private firms are often locked up for years with limited options to exit.
Instead of fixed allocations, users commit stablecoins into a pool and receive tokens based on total demand. Once distributed, those tokens can be traded on a spot market, allowing investors to adjust positions as expectations around a future listing shift.
Tokenization has gained traction across traditional finance, from bonds to money market funds to equities. Extending the model to pre-IPO markets could widen access to a segment long dominated by venture capital and private equity, while testing how far crypto infrastructure can reshape capital formation.
The pre-IPO tokens do not represent equity ownership. They are derivatives structured to mirror financial outcomes tied to a company’s valuation after a public debut.
SpaceX is preparing for one of the most widely expected stock market debuts this year, after the firm reportedly confidentially filed for an IPO.
Market analysts said Bitcoin’s (BTC) latest rally to $78,000 means that the “uptrend has began,” but the upside could be capped at $84,000, based on several key metrics.
Key takeaways:
Bitcoin profitability suggests BTC rally “has begun”
Bitcoin’s recent price recovery toward $76,000 has pushed it more than 26% above its sub-$60,000 multi-year low reached on Feb. 6.
This was accompanied by an increase in the Spent Output Profit Ratio (SOPR), which hit an eight-month high of 2.87, after dropping as low as 0.62 in early February.
Related: Bitcoin risks losing $70K as Strategy’s STRC slips below $100
SOPR is a metric used to show whether Bitcoin investors have made a profit or loss compared to when they first held Bitcoin. This ratio has historically marked the short-term bottom for BTC when it hits its lowest point.
“The $BTC SOPR Ratio shows that $BTC has already broken out of the bottom and is rising,” CryptoQuant analyst CW8900 said in a Tuesday post on X, adding:
“The bottom for $BTC was formed last February. The rally is already in progress.”
Similarly, Bitcoin’s Net Unrealized Profit/Loss (NUPL), the difference between total profits and losses currently held by investors, has flipped positive for the first time since early January.
This suggests that the downtrend for Bitcoin has ended, and the “real rally of this cycle has begun,” CW8900 said in another X post.
This structurally resembles conditions seen in early stages of previous bull markets, where the NUPL recovered from extended periods below zero as Bitcoin embarked on a sustained rally.
1.1 million BTC at $84,000 could trigger sell-off
According to Bitcoin’s cost basis distribution data, investors hold approximately 1.1 million BTC at an average cost of $84,000, creating a potential resistance zone. This concentration suggests many investors may sell at break-even, potentially stalling Bitcoin’s upward momentum.
As Cointelegraph reported, Bitcoin’s immediate resistance is at $78,000, where the true market mean currently sits.
The US spot Bitcoin ETF cost basis at $83,100 is seen as the next key hurdle.
Analyst AlphaBTC said the BTC/USD pair might rise higher to fill the CME gap at $84,000, which was created at the start of February.
As Cointelegraph reported, a close above the $76,000-$78,000 resistance zone would confirm that the buyers are in control, clearing the path for a potential rally to $84,000.
This article is produced in accordance with Cointelegraph’s Editorial Policy and is intended for informational purposes only. It does not constitute investment advice or recommendations. All investments and trades carry risk; readers are encouraged to conduct independent research before making any decisions. Cointelegraph makes no guarantees regarding the accuracy or completeness of the information presented, including forward-looking statements, and will not be liable for any loss or damage arising from reliance on this content.
The White House has discussed offering a financial lifeline to the United Arab Emirates as the U.S. war with Iran wreaks havoc on the Gulf state’s economy, a White House official told CNBC.
The UAE has not formally requested a currency swap line, and plans are not currently being drawn up, the official said, speaking on condition of anonymity to talk about nonpublic plans. Still, it is being discussed within the administration, the person said. Such a move would provide liquidity in dollars to the oil-rich UAE, but could be politically tenuous for the administration as U.S. consumers grapple with higher prices at home.
The UAE and other Persian Gulf nations have been hit hard by the U.S. war with Iran. Tehran has fired troves of missiles at the U.S.’ regional allies, damaging economic infrastructure. Iran’s closure of the Strait of Hormuz has also largely choked off oil exports that the UAE depends on for cash flow.
The UAE is a particularly close ally of the Trump administration, and has labored to extend overtures to Washington since Trump returned to the White House. The country committed to invest more than $1 trillion in the U.S. last year. The leaders of the Gulf nation are also reportedly intertwined with President Donald Trump‘s family business.
Trump, on CNBC’s “Squawk Box” Tuesday, appeared to say that he was willing to assist the UAE when asked directly about whether a currency swap was under consideration.
“If I could help them, I would,” the president said. “It’s been a good country. It’s been a good ally of ours.”
A potential currency swap line comes with political risk for Trump, however, as U.S. voters could view it as a bailout of a foreign country — and a wealthy one — while American consumers are swallowing higher prices.
The White House official said Trump sees the UAE as a major ally of the U.S. and is open to helping them, but cautioned that a swap is still “something we’re thinking about considering.”
Even if the administration is open to providing support, the ultimate decision on providing swap lines rests with the Federal Reserve.
Swap lines historically have been limited to major central banks and systemically important markets, so offering one to the UAE would represent an unusual broadening of scope.
The prospect of a swap line between the U.S. and the UAE first cropped up on the sidelines of last week’s World Bank and IMF meetings in Washington, when U.S. Treasury officials pulled some Gulf allies aside to ask what they might need to rebuild their economies after the Iran war concludes, the official said. The UAE later raised a potential currency swap, but did not make a formal request for one, The Wall Street Journal first reported.
The Journal also reported the UAE warned it may have to use the Chinese yuan for oil sales and other transactions if it runs short on dollars, a threat to the supremacy of the dollar on oil markets.
The UAE, in a statement from its embassy in the U.S. posted to X, refuted that it needs a bailout.
“Any suggestion that the UAE requires external financial backing misreads the facts,” the statement read. “The UAE and the United States will continue to prosper together for decades to come, not because one depends on the other for support, but because both benefit from one of the world’s most important economic partnerships.”
— CNBC’s Jeff Cox contributed to this report.
Crypto World
Prediction markets are the new secret weapon for Coinbase (COIN) and Robinhood (HOOD) growth
Prediction markets are gaining traction as a new growth area for Coinbase (COIN) and Robinhood (HOOD), as investors look beyond a weak first quarter for crypto trading and focus on future products, according to Cantor Fitzgerald analyst Ramsey El-Assal.
El-Assal said “investors are increasingly treating the quarterly print as backward-looking,” with attention shifting to “forward-looking demand trends and the product roadmap,” including newer offerings such as prediction markets.
Both companies are expected to report softer results for the first quarter of 2026 after a pullback in crypto prices and trading activity. Bitcoin and ether (ETH) fell about 23% and 29% in the quarter, weighing on volumes across exchanges. Trading activity also slowed as the quarter progressed, with Coinbase volumes declining from roughly $66 billion in January to $54 billion in March, based on third-party data.
Cantor estimates Coinbase’s consumer and institutional trading volumes at $35 billion and $167 billion, both below Wall Street expectations. The firm also projects exchange revenue below consensus. Still, El-Assal maintained an “overweight” rating on the stock and raised his price target to $250, citing improving sentiment and longer-term growth drivers.
Robinhood faces similar near-term pressure. The analyst expects a sequential decline in trading volumes due to softer market conditions, along with a hit to net interest revenue from lower rates. But the company’s business model offers some cushion. Higher volatility can lift trading margins, and Cantor expects stronger yields in equities and options to partly offset weaker activity.
At the same time, crypto revenue quality may come under pressure. El-Assal noted the platform’s “tiered pricing structure … earns lower yields on large active traders … and higher yields on marginal traders,” with the latter group pulling back during volatility.
Despite these headwinds, both stocks have rallied in recent weeks. Coinbase shares are up about 18% quarter-to-date, while Robinhood has climbed roughly 40% in April from late-March lows, helped by improving risk sentiment and easing geopolitical tensions.
The focus now is on what comes next. For Coinbase, investors are watching regulatory developments and new business lines. The company’s prediction markets offering, launched this year, “continues to attract meaningful interest,” El-Assal said.
Robinhood is also leaning into prediction markets alongside other initiatives such as tokenization and private market access. The analyst said these efforts, along with regulatory changes like updates to pattern day trading rules, could help drive future growth.
Cantor maintained an “overweight” rating on Robinhood and raised its price target to $110.
The broader view, according to El-Assal, is that while current trading trends remain tied to crypto price cycles, the next phase of growth will depend more on product expansion and new use cases.
Later on Tuesday, the New York Attorney General’s office filed a lawsuit against Coinbase and fellow crypto exchange Gemini over their prediction market offerings, alleging that the products were actually gambling products and therefore in violation of state regulations.
Whether prediction markets — specifically, sports-related prediction markets — are gambling products are not is currently a topic of debate in both state and federal courts. The Commodity Futures Trading Commission has argued that prediction markets are swaps, and therefore properly regulated by that agency at the federal level. States have argued that at least the sports-related contracts are not swaps, and should be licensed and overseen by state regulators. This question is likely to end up before the U.S. Supreme Court.
Wilson Fisk proposed diversifying his criminal empire into Bitcoin (BTC) during a flashback scene in Daredevil: Born Again, Season 2, Episode 5, marking one of the MCU’s most direct crypto references to date.
The moment aired on Disney+ on April 14 as part of “The Grand Design,” an episode built around Kingpin’s origin story.
Kingpin’s Bitcoin Pitch Got Overruled
The flashback takes place around 2014 to 2015, before the events of the original Netflix Daredevil series. Fisk, played by Vincent D’Onofrio, rides in a car with his right-hand man James Wesley, played by Toby Leonard Moore.
After discussing complications with an associate known as “The Lion,” Fisk floats the idea of Bitcoin as a way to modernize and diversify their money laundering operations.
Wesley pushes back, viewing crypto as too volatile. He steers Fisk toward the art world instead, mentioning a contact at the Scene Contempo Gallery.
Fisk initially dismisses art as pretentious but agrees to visit. That decision leads directly to his first encounter with Vanessa Marianna, setting up one of the MCU’s defining romances.
The timeline fits. BTC traded around $200 to $300 during that period, still far from mainstream recognition.
For a forward-thinking crime boss exploring discreet financial channels, the suggestion landed as both plausible and amusing.
Crypto Fans Reacted Quickly
The line went mildly viral on social media. A post on Reddit’s r/Bitcoin community titled “Daredevil: Born Again S2 E5” drew upvotes and comments ranging from “that’s wild” to debates over whether Fisk would have been an early whale.
No later episodes have followed up on the idea. The art pivot is what stuck for Kingpin’s empire.
The post Marvel Drops Bitcoin Mention in Daredevil Season 2 appeared first on BeInCrypto.
New York’s attorney general has filed lawsuits against crypto exchange operators Coinbase Financial Markets and Gemini Titan for allegedly violating state gambling laws, according to court records cited by Reuters.
Copies of the complaints show the state alleges both exchanges failed to obtain licenses from the New York State Gaming Commission to operate their markets, Reuters reported.
“Gambling by another name is still gambling, and it is not exempt from regulation under our state laws and Constitution,” Attorney General Letitia James said in a statement.
James said the lawsuit seeks to recover alleged illegal profits from operating prediction markets in the state, as well as restitution, and would bar Coinbase and Gemini from offering such products to individuals under 21 years of age.
Related: Polymarket in talks to raise $400M at a $15B valuation: Report
State regulators crack down on prediction markets
The move fits into a broader push by state regulators, including New York, to assert control over prediction markets, which occupy a fast-growing corner of crypto commerce that allows users to bet on real-world events.
Much of the recent scrutiny has centered on platforms like Polymarket and Kalshi, which have drawn questions over whether their products fall under financial regulation or gambling laws.
The tension has also reached the federal level. The Commodity Futures Trading Commission (CFTC) has taken legal action against several states attempting to regulate prediction markets, arguing it has sole authority over the sector.
New York’s lawsuit underscores a key risk for crypto companies. Even as the federal stance has softened, state-level enforcement remains active. By targeting prediction-style markets, regulators may be opening a new front — one that could force platforms to rethink how these products are offered in major jurisdictions.
Nevertheless, not every company is taking it lightly. As Cointelegraph reported, Polymarket has filed a lawsuit against Massachusetts, arguing the state lacks authority to regulate prediction markets approved by the CFTC.
Related: NYSE parent ICE completes new $600M investment in Polymarket
Optimism’s first privacy offering by core developer Sunnyside uses ZK and TEE hybrid technology to enable confidential computing for enterprises on the OP Stack.
Privacy Boost, a privacy offering built by Sunnyside—an Optimism core developer—launched on OP Mainnet on Tuesday, April 21. The product is a drop-in SDK enabling confidential computing for Sunnyside’s customers on any OP Stack chain. The hybrid architecture combines zero-knowledge proofs and trusted execution environments (TEE), with sub-500ms proof generation and compliance-compatible design.
Privacy Boost targets enterprise demand for onchain transaction privacy without exposing customer data. The protocol’s high-throughput design is expected to expand to additional blockchains beyond Optimism. The launch addresses institutional adoption barriers on Ethereum and Layer 2 networks where regulatory and operational requirements demand confidential data handling.
Sources: Optimism | Decrypt
This article was generated automatically by The Defiant’s AI news system from publicly available sources.
TLDR
- Nium has selected Coinbase to integrate USDC payments across its global network in more than 190 countries.
- The integration allows businesses to fund cross-border payouts in USDC and settle in stablecoins or local currencies.
- Coinbase provides custody, liquidity, and wallet infrastructure to support the new payment setup.
- Nium’s system enables just-in-time settlement, which removes the need for prefunded accounts in multiple jurisdictions.
- The company supports over 100 currencies, real-time payouts in more than 100 corridors, and holds over 40 regulatory licenses worldwide.
Singapore-based Nium has selected Coinbase to power USDC payments across its global network. The integration enables businesses to send, receive, and convert stablecoins across more than 190 countries. The rollout connects stablecoin liquidity with local fiat payouts through a single platform.
Coinbase powers USDC integration across Nium network
Nium will use Coinbase infrastructure for custody, liquidity, and wallet services across its payments network. The setup allows clients to fund cross-border payouts in USDC and settle in stablecoins or local currencies. As a result, businesses can avoid prefunding accounts in multiple jurisdictions and streamline capital use.
The integration supports just-in-time settlement, which deploys funds at payout instead of holding balances overseas. Nium also allows customers to link stablecoin balances to card programs for real-world spending. The company said the system connects settlement, compliance, and integration within one framework.
Nium stated that its network supports over 100 currencies and local collection in 40 markets. It also processes real-time payouts in more than 100 corridors worldwide. The company holds over 40 regulatory licenses across various jurisdictions.
The company recently launched a platform for stablecoin-funded cards on Visa and Mastercard networks. That platform converts balances to fiat at the point of sale. It also manages settlement and compliance through a unified system.
USDC expands global role in cross-border payments
USD Coin, known as USDC, launched in 2018 through Circle and Coinbase. The stablecoin maintains a 1:1 peg with the US dollar. It backs reserves with cash and short-term US Treasury holdings.
According to DefiLlama, USDC holds a market capitalization of about $78 billion. It ranks second among stablecoins by size. Tether’s USDT leads the market with roughly $188 billion in capitalization.
Circle has increased USDC adoption through partnerships focused on cross-border payments. In March, Circle partnered with Sasai Fintech to expand USDC corridors across Africa. The initiative targets remittances, business payments, and mobile wallet integrations.
In parts of Sub-Saharan Africa, remittance costs exceed 7%, according to industry data. The United Nations has set a 3% target for remittance fees. Circle said it aims to lower transfer costs through stablecoin settlement.
Earlier this month, Circle partnered with Thunes to extend USDC settlement across its payments network. Thunes operates in more than 140 countries worldwide. The integration enables near real-time transfers while reducing reliance on prefunded accounts.
Recent data shows rising USDC activity in the first quarter. A CEX.IO report found that USDC supply grew by about $2 billion during the period. In contrast, USDT supply declined by roughly $3 billion over the same timeframe.
Crypto World
USDT Now Live on Solana, Plasma, and Ethereum With 1:1 USD Onramps and Offramps: Privy and Ramp
Ramp expands stablecoin access by launching USDT across Solana, Plasma, and Ethereum with seamless 1:1 USD conversion for global money movement.
Ramp has launched USDT across Solana, Plasma, and Ethereum with integrated 1:1 USD onramps and offramps, according to an announcement from Privy on Tuesday, April 21, 2026. The expansion enables faster and cheaper cross-chain stablecoin access for thousands of businesses globally, with the infrastructure protected by Privy’s authentication and wallet solutions.
The deployment adds to Ramp’s growing multi-chain stablecoin infrastructure, positioning USDT across three major blockchain networks to reduce friction in fiat-to-crypto conversion flows. This move targets businesses seeking efficient global money movement rails without traditional banking intermediaries.
Sources: Privy (Official X Account)
This article was generated automatically by The Defiant’s AI news system from publicly available sources.
After attackers deposited rsETH from an exploited Kelp bridge and borrowed Wrapped ETH, Aave had frozen WETH across multiple markets.
Aave announced earlier today, April 21, that it has unfrozen wrapped ETH (WETH) reserves on its Ethereum Core V3 market, just over 24 hours after locking down WETH across multiple markets in response to the $290 million Kelp bridge exploit.
“WETH reserves on the Ethereum Core V3 market have been unfrozen and users can supply WETH to Ethereum Core V3 again,” Aave wrote on X this morning. WETH is a tokenized version of ETH compatible with decentralized finance smart contracts.
Late evening ET on April 19, Aave had frozen WETH reservers across its Core, Prime, Arbitrum, Base, Mantle, and Linea markets. “This action prevented new borrows against WETH collateral and contained the risk of stress spreading to other reserves, including stablecoins,” and April 20 incident report co-authored by Aae and LlamaRisk explained.
As The Defiant has reported, this year’s largest DeFi exploit so far happened on April 18, when a hacker exploited a vulnerability in liquid restaking protocol Kelp’s LayerZero bridge to forge a cross-chain message, releasing 116,500 KelpDAO Restaked ETH (rsETH), worth over $290 million, without any real tokens being sent.
The attacker deposited most of the rsETH as collateral on Aave and borrowed roughly $190 million in WETH across Ethereum and Arbitrum.
Aave’s risk team froze rsETH across all its markets within hours, then froze WETH itself on April 20 to stop the crisis from spreading further. Users had been unable to withdraw WETH or supply new deposits since.
As of April 21, WETH supply on Ethereum Core V3 is open again, though WETH’s loan-to-value ratio remains at zero, meaning it cannot be used as collateral for new borrowing. WETH on Ethereum Prime, Arbitrum, Base, Mantle, and Linea remains frozen, Aave noted on X.
The decision drew criticism from Spark’s head of strategy, who argued on X that the current interest rate configuration turns the unfreeze into a near-risk-free looping opportunity for holders of liquid staking and restaking tokens (LSTs and LRTs, which represent staked or restaked ETH positions) — keeping WETH locked up and making withdrawals even harder for ordinary depositors.
Depending on how Kelp ultimately allocates losses from the exploit, Aave faces between $124 million and $230 million in bad debt, per the protocol’s April 20 incident report. The Aave DAO holds $181 million in its treasury as of April 20, and says it has already received indicative commitments from ecosystem participants to help cover potential shortfalls.
Kelp is the second-largest liquid restaking protocol in DeFi per DefiLlama data, with $1.55 billion in total value locked across sixteen chains.
This article was written with the assistance of AI workflows. All our stories are curated, edited and fact-checked by a human.
Revolut has told investors it is targeting a valuation of $150 billion to $200 billion for a future initial public offering (IPO), the Financial Times reported on Tuesday.
The London-based fintech, which was valued at $75 billion in a secondary share sale last November, would not seek a stock market listing before 2028. No formal valuation target has been set, a source close to the company told the FT.
Revolut Eyes Up to $200 Billion Valuation in Future IPO
The company’s financial performance supports the ambition. Revolut’s pre-tax profit hit a record £1.7 billion ($2.3 billion) in 2025, a 57% increase from the prior year.
Revenue climbed 46% to £4.5 billion as its retail customer base grew 30% to 68.3 million.
Reports also indicate that Revolut is preparing for a secondary share sale in the second half of 2026. That transaction could value the company at around $100 billion, laying a stepping stone toward the IPO target.
Co-founder Nik Storonsky said in December that his personal stake would be worth roughly $80 billion if the company reached a $200 billion valuation.
Banking Licenses Fuel Global Expansion
Revolut received a full UK banking license from the Prudential Regulation Authority in March 2026, ending a years-long application process.
The license allows the crypto-friendly fintech to offer lending, savings, and credit products to UK customers.
The company also applied for a US banking license with the Office of the Comptroller of the Currency (OCC) in early March.
If approved, Revolut would operate more like a traditional bank in the world’s largest economy.
Can Revolut justify a $200 billion price tag? This may hinge on how quickly it converts new banking powers into lending revenue and grows its US footprint before any listing.
The post Revolut Builds $200 Billion IPO Case on Record Profits appeared first on BeInCrypto.
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