Crypto World

RaveDAO accused by ZachXBT of ties to ‘suspicious’ crypto exchange activity

Published

6 hours ago

20 April 2026

RaveDAO accused by ZachXBT of ties to ‘suspicious’ crypto exchange activity

Blockchain sleuth ZachXBT wrote on Sunday that the team behind RaveDAO is at least aware of who manipulated the price of its token, which saw an impossible 11,000% surge in price followed by a near immediate collapse.

“I found suspicious CEX (centralized crypto exchanges) activity on April 26 tied to RaveDAO team addresses onchain, which potentially contradicts their recent statements,” the blockchain investigator said.

In a separate post, ZachXBT flagged a transfer from a RAVE address used for “initial distribution” by RaveDAO from which roughly $23 million worth of tokens were transferred to two Bitget deposit addresses causing the price to drop 40% from $1 to $0.6.

RaveDAO posted a six-part X thread on Saturday, previously reported by CoinDesk, stating “we are aware of the rumors and accusations circulating regarding $RAVE and the RaveDAO team. We want to be clear: RaveDAO team is not engaged in, nor responsible for, recent price action.”

However, ZachXBT said, “given the supply concentration, the team at minimum knows who is responsible for this price action.”

In a separate X post, the investigator said, “you expect the community to believe RAVE went $60M -> $6B mkt cap organically in nine days with little to no utility? Considering your team handled the initial distribution with a low float it’s unlikely you do not know the party responsible for it.”

The RaveDAO token, which increased by nearly 11,000% in nine days from about $0.25 to $27.33, then plunged by over 90%, losing roughly $5.7 billion in market capitalization in just 48 hours. Its price currently hovers around $0.67.

The sleuth also said RAVE is not the only token with manipulation “we have seen on major centralized exchanges. It’s just the most blatant.” He also said it was highly unlikely the CEXs did not spot the massive $RAVE token price movements.

Source link

Crypto World

Coinbase Expands Crypto-Backed USDC Loans to UK Users

Published

5 minutes ago

20 April 2026

NewsAdmin

Coinbase Expands Crypto-Backed USDC Loans to UK Users

Crypto exchange Coinbase has rolled out crypto-backed USDC loans for users in the United Kingdom, allowing users to borrow USDC against Bitcoin, Ether and Coinbase Wrapped Staked Ether (cbETH). The loans are issued through Morpho, a lending protocol on Base.

According to a Monday announcement, users can borrow up to $5 million in USDC (USDC) with Bitcoin (BTC)-backed loans, depending on how much collateral a user pledges. Coinbase said interest rates are variable and set by Morpho based on market conditions on Base, suggesting that borrowing costs can change frequently.

The exchange said there is no fixed repayment schedule, but borrowers face liquidation risk if the loan-to-value ratio exceeds specific thresholds.

The launch expands a crypto-backed lending service that Coinbase has been rolling out in the US since 2025. On Nov. 21, Coinbase launched the product across US states, except New York, allowing users to borrow up to $1 million in USDC with Ether (ETH) as their collateral.

The expansion also comes amid ongoing regulatory developments in the UK. On Wednesday, the FCA launched a consultation for a future crypto regime expected to take effect in October 2027, covering areas like stablecoins, trading platforms, custody and staking. Until the regime comes fully into force, the UK remains only partially regulated, with rules focusing on financial promotions and Anti-Money Laundering (AML).

The rollout adds lending to Coinbase’s growing UK product stack while extending its effort to route consumer finance activity through onchain infrastructure.

UK expansion adds lending to growing product stack

Coinbase described the UK launch as part of its effort to build a broader financial product suite in the country, following its registration with the Financial Conduct Authority (FCA) in 2025.

On Feb. 3, 2025, Coinbase secured FCA approval as a registered crypto service provider, allowing it to offer crypto and fiat services to both retail and institutional investors. In November 2025, Coinbase launched DEX trading and savings accounts in the UK.

The product launch comes as Coinbase has been exploring ways to extend crypto-backed lending into traditional finance use cases.

On March 26, the exchange partnered with Better Home & Finance to allow borrowers to pledge Bitcoin or USDC as collateral for loans used to fund down payments on mortgages.