Crypto World
Resolv hack shows DeFi learned nothing from last contagion
Sunday’s $23 million hack of Resolv’s stablecoin USR has led to contagion across the DeFi sector.
Opportunistic traders used depegged USR to borrow against, draining liquidity in over a dozen yield vaults.
To make things worse, so-called “risk curators” then automatically allocated more funds to broken markets as lending rates spiked.
In November, a similar contagion hit DeFi’s “curated” vault ecosystem after Stream Finance announced a $93 million loss, leading to a 75% of xUSD.
Despite discussions of risk ratings and curators putting up first-loss capital in the aftermath, it appears not much was learned, after all.
Read more: Four months on, MEV Capital falls victim to $4B DeFi daisy chain implosion
The hack
Resolv Labs’ statement confirmed that a private key compromise led to the unauthorized (and unrestricted) “minting of approximately $80 million of uncollateralized USR.”
USR’s pre-hack token supply remains fully backed, with losses coming from liquidity providers (LPs) on decentralized exchanges as the hacker sold the minted tokens. For example, LPs on Curve Finance alone are estimated to have lost $17 million.
The hacker’s sell-off caused a depeg of USR, which is currently trading at $0.23, according to CoinMarketCap data. Blockchain security firm Beosin puts the attacker’s profits at 11,409 ether (ETH), worth over $23 million at the time of writing.
The Resolv team faced criticism for a slow response time while collecting the necessary multisig signatures to pause the protocol.
It has contacted the exploiter on-chain, requesting return of 90% of the converted ETH, as well as the remaining USR.
Read more: Venus Protocol hacker lost $4.7M after nine months of planning
The fallout
The hack may have been simple, but the knock-on effects have been anything but.
Depegged USR was pounced upon by opportunistic traders who used it to drain yield vaults with hardcoded price oracles. In buying cheap USR to use as collateral, users could borrow other assets, such as USDC, as if USR were still worth $1.
Read more: Oracle error adds to turmoil at DeFi giant Aave
As if things weren’t bad enough, “risk curators” automated strategies then allocated further funds to the affected markets, whose high utilization had spiked supply yields.
Chaos Labs’ Omer Goldberg explained how Morpho’s Public Allocator feature allowed curators “including Gauntlet, re7, kpk, and 9summits” to autoallocate millions of dollars worth of assets into markets “based on pre-configured and approved caps and credit lines.”
In some cases, Goldberg says, allocation into broken vaults continued for hours.
The chaos also brought innovation, however, as the auto-allocations were even specifically targeted to free up additional liquidity. Enterprising competitors Obsidian also capitalized on the incident, offering a migration service to users whose deposits are stuck in illiquid Morpho vaults
Assessing the damage
Morpho’s Paul Frambot tallied 15 affected vaults with over $10,000 of exposure to USR.
According to security researcher Weilin Li, curators of the affected vaults, on Morpho and elsewhere, include Gauntlet, Re7, MEV Capital, Extrafi, Seamless, August, Clearstar, kpk, Leyrock and 9Summits.
For those who followed November’s collapse, many of these names may be familiar.
Yearn, whose contributors were amongst the harshest critics of the yield vaults which led to November’s crash, suffered a minimal loss of $377.
Ironically (or tellingly), Resolv’s own risk manager, Steakhouse, wasn’t exposed to USR, despite stating that “operationally, Resolv demonstrates institutional rigor” just five days before the hack.
The backing of Inverse Finance’s DOLA stablecoin was indirectly exposed to the depeg of USR, with the team pledging to patch the $340,000 hole.
A number of lending markets paused USR markets, including Venus Protocol, which was itself hacked last weekend, and Lista.
Fluid was the worst hit, and may have accrued up to $17.5 million of bad debt. However, the team reassured users that it had “secured short-term loans to cover 100% of the bad debt.”
It also considers selling FLUID tokens “should any additional funds be required.”
Following a dicey few months for top dog lending protocol Aave, with governance drama and an oracle mishap, Aave Labs’ Stani Kulechov was keen to highlight Aave’s lack of exposure.
DeFi daisy chain
The web of platforms affected by the compromise of a single private key is a stark reminder of how one of DeFi’s key innovations, interoperability, is a double-edged sword.
Automated allocation may optimize returns under normal conditions, but when things break, which they often do in DeFi, unintended behavior follows.
Without their own funds in play, the current setup incentivises “malicious game theory pushing [curators] to seek more risk.”
This latest episode has renewed calls for curators to have skin in the game. One approach is tranching of deposits, with curators set to lose out first should their risk be improperly “curated.”
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Crypto World
Treasury Secretary Bessent now says it’s OK for the Fed to wait to lower rates amid oil surge
U.S. Treasury Secretary Scott Bessent waits for the first meeting of U.S. President Donald Trump’s anti-fraud task force convened by U.S. Vice President J.D. Vance at the Eisenhower Executive Office Building on the White House campus in Washington, D.C., U.S., March 27, 2026.
Jonathan Ernst | Reuters
U.S. Treasury Secretary Bessent said the Federal Reserve could wait to lower interest rates amid the oil spike, in a departure from his previous stance on monetary policy.
“Do I think rates should be lowered? Eventually. I think now that we have to wait and see,” Bessent told Semafor Editor-in-Chief Ben Smith at the Semafor World Economy conference in Washington, DC.
Bessent has previously said that Fed Chair Jerome Powell should hasten cutting interest rates, saying in January that reductions are “the only ingredient missing for even stronger economic growth. Which is why the Fed should not delay.”
But the change in thinking comes amid the ongoing war in Iran, which has driven up oil prices to above $100 a barrel.
That complicates the Fed’s mandate, as it eyes rising inflation alongside slowing growth. The central bank was last expected to hold rates steady this year, with the slimmest possibility of a hike, according to fed funds futures pricing.
Coming out of “January and February — the economy was very strong,” Bessent told Semafor.
Powell’s term as chair is up in May, but he could have to stay on longer if Trump’s chair nominee which Bessent helped select, Kevin Warsh, can’t get confirmed by the Senate by the time. Sen. Thom Tillis has vowed to block a Warsh vote until U.S. Attorney Jeanine Pirro ends her criminal probe into Powell related to Fed building cost overruns. Powell has said the probe is designed to put pressure on him by the Trump administration for not cutting rates more.
See the full Semafor story here.
— CNBC’s Jeff Cox contributed to this report.
Crypto has a capital efficiency problem.
For all the innovation we’ve seen in DeFi, a huge amount of onchain capital still sits idle. It’s staked, it’s locked, and it’s largely cut off from the rest of the financial system we’ve been building. That might have been acceptable a few years ago, but it doesn’t work for institutions.
Idle capital isn’t just inefficient, it’s incompatible with how modern financial systems operate.
Institutions don’t separate staking and markets in their thinking. They look at capital in terms of how hard it can work. Can it move? Can it generate yield? Can it be deployed across strategies without friction? If the answer is no, that capital becomes less attractive.
The same is increasingly true in payments. Once money moves onchain, it shouldn’t just sit idle between transactions. It should be programmable, composable, and capable of generating yield even while it’s waiting to be used.
That’s the gap we’re focused on solving at Polygon Labs.
With the launch of sPOL, we’re introducing a canonical liquid staking standard for POL. In simple terms, it allows users to stake POL while still keeping that capital liquid and usable across onchain markets. You continue earning staking rewards, but you also gain the ability to deploy that same capital in trading, lending, and collateral strategies.
This is especially powerful in payments contexts, where capital often sits at rest between settlement cycles, treasury rebalancing, or cross-border flows. Instead of remaining idle, that capital can stay productive without sacrificing availability.
That combination is what makes capital actually competitive.
If you look at Ethereum, liquid staking has already become a core part of the ecosystem. More than 40 percent of staked ETH is used in this way. On Polygon, it’s closer to 4 or 5 percent. That gap isn’t about demand. It’s about infrastructure.
Without a clear standard, liquidity fragments. Without liquidity, institutions don’t show up in size.
sPOL is designed to change that.
When you stake POL, you receive sPOL, which represents your position and continues to earn yield. At the same time, it can be used across DeFi just like any other liquid asset. That means funds, market makers, and treasury teams can run more sophisticated strategies without giving up staking rewards or waiting through unbonding periods.
It also means payment providers, fintechs, and onchain businesses can treat idle balances not as dead weight, but as yield-generating assets that remain fully usable.
It turns staking from something passive into something you can actively manage.
But usable capital only matters if markets can support it.
From day one, we’re seeding deep liquidity so sPOL is immediately functional at scale. We’re also integrating with venues like Uniswap v4 to ensure efficient execution and real market depth. At the same time, validator incentives are being structured to deliver more competitive yields, aligning participants across the network.
This is about building the conditions institutions expect as a baseline.
The impact is straightforward. There are billions of POL already staked. Even partial adoption of sPOL significantly expands the amount of capital actively participating in the ecosystem. That leads to deeper markets, better pricing, and more resilient liquidity.
It also strengthens the network itself. As more POL moves into productive staking positions, supply tightens and incentives align more clearly with long term participation.
Stepping back, this is part of a broader shift.
Crypto is moving from experimentation to infrastructure. Stablecoins are becoming settlement layers. Real world assets are coming onchain. Institutions are no longer just watching, they’re allocating.
And as payments infrastructure moves onchain, expectations change. Capital isn’t just meant to move faster, it’s meant to work continuously, even in the moments between movement.
But they will only scale into systems that meet their standards.
They need liquidity. They need composability. And they need capital that can be both productive and flexible at the same time.
That’s what we’re building with sPOL.
It’s not just an upgrade to staking. It’s a step toward making Polygon a place where capital behaves the way modern markets expect it to.
Because ultimately, the question isn’t how much capital is onchain.
It’s how much of it is actually working, and where it chooses to work.
The post Polygon Is Fixing Crypto’s Idle Capital Problem appeared first on BeInCrypto.
The decentralized autonomous organization (DAO) behind Ethereum layer-2 network Scroll said it will propose a plan to dissolve its Security Council and transfer control of the network to an account managed by an internal team.
The proposal announcement comes two months after Scroll’s top fee-generating decentralized application (dapp), crypto neobank Ether.fi, moved to Optimism’s OP mainnet. That saw roughly 300,000 user accounts and more than $160 million in total value locked move away from the network.
In a governance update, a Scroll core contributor said the Security Council was simply too expensive. Scroll is laying off several contributors within the DAO and reducing the capacity of its operational committees. The handover is targeted for the next 10 days, pending support from the current council.
“After evaluating the Security Council’s cost relative to its actual usage over the past quarters, we believe continuation is no longer justified,” the post reads.
The project said all contract changes would be executed transparently and remain verifiable onchain.
Adding to the network’s turbulence, a recent surge in Scroll’s network fees appeared to be artificially manufactured rather than a sign of organic demand.
Over six days in early April, the network raised the amount it charges to publish data to the Ethereum mainnet by a factor of 1,280, creating the illusion of a massive spike in 30-day chain fee momentum, according to analysis from L2BEAT.
The adjustment forced users to pay over $50,000 in excess transaction fees for data posting that ordinarily would have cost roughly $280. The extreme, temporary repricing was rolled back on April 9.
Ether.fi’s migration moved around $13 million in annualized fees away from Scroll, according to DeFiLlama data, and trimmed the network’s TVL to around $23 million.
The XRP Ledger (XRPL) used by blockchain payments company Ripple has tapped Boundless, a zero-knowledge infrastructure provider, to let banks and asset managers execute confidential yet compliant transactions directly on the network, according to a Tuesday release shared with Cointelegraph.
Boundless chief executive Shiv Shankar told Cointelegraph the design aims to shield details like transaction size, frequency and counterparties from public view, while still allowing regulators to audit activity via selective disclosure and role-based access controls.
Boundless’ integration is meant to enable a range of institutional use cases that have historically been challenging to run on fully transparent ledgers. Those include cross-border business-to-business payments, treasury and capital management, over-the-counter positions, tokenized asset issuance and decentralized exchange or lending activity, where order flow and positions are highly sensitive, according to Shankar.
For public blockchains, that trade-off between transparency and confidentiality has become a central barrier to institutional adoption, as banks and asset managers seek to protect trading strategies and client activity without falling out of step with regulatory oversight.
The move positions XRPL in an increasingly competitive race to deliver bank-grade privacy on public blockchains, as institutions push to avoid what Shankar described as the “transparency tax” of fully visible onchain activity.
Privacy race expands across ZK and FHE approaches
In March, cryptography company Zama integrated its fully homomorphic encryption (FHE) stack with institutional tokenization platform T-REX, pitching its technology as a confidentiality layer for ERC-3643 securities (tokenized financial instruments that embed compliance rules into the token standard) on upcoming T-REX public networks.
Related: Moody’s brings credit ratings onchain with Canton Network integration
Other projects are betting on different flavors of zero-knowledge technology, including zkSync’s Prividium environment, which aims to anchor private institutional execution to Ethereum via ZK proofs while keeping raw transaction data off public view.
Shankar said that projects like zkSync require institutions to launch their own layer-2s, which involves greater investment and overhead. In contrast, Boundless deploys solutions via smart contracts, which he said allows institutions to “stay where the liquidity is” (on Ethereum), and “gain more flexibility on where they deploy their products.”
Shankar said the design aims to replicate the selective disclosure controls of traditional finance in an onchain environment, rather than forcing institutions to choose between privacy and compliance.
Privacy shifts from feature to core infrastructure
The rollout highlights how privacy is becoming a feature of base-layer and tokenization infrastructure rather than an optional add-on.
The tokenized asset market reached $29.25 billion in April 2026, up 7.9% in a month, according to data from RWA.xyz.
As more real-world assets migrate onchain and traditional players experiment with tokenized funds, deposits and securities, pressure is mounting on networks to accommodate both institutional secrecy and supervisory oversight.
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X’s head of product Nikita Bier hinted Tuesday that the platform could launch a crypto-related product, prompting speculation across the industry.
The post drew attention because it came just weeks before the expected launch of X Money, a payments and digital wallet product that Elon Musk has presented as part of his plan to expand X into a broader financial platform.
The post quickly drew responses across the crypto industry, prompting immediate speculation around X’s potential Bitcoin (BTC) revival, Solana-related initiatives, stablecoins as well as prediction markets.
Some users also questioned whether Bier’s ties to Solana could shape how any crypto initiative at X is perceived.
Cointelegraph asked X for comment but had not received a response by publication.
Bitcoin payments return to focus
Coinbase was among the accounts that floated Bitcoin as one possible direction, suggesting X could consider bringing the asset back into the platform’s product mix.
Though speculative, the idea echoes Bitcoin payment concepts previously explored under Twitter’s original leadership, when founder Jack Dorsey oversaw the rollout of Bitcoin tipping via the Lightning Network in 2021.
The feature was later phased out as Twitter’s creator monetization strategy shifted following Musk’s $44 billion acquisition of the company in 2022.
X Money launch expected this month
Bier’s post came as X prepares to roll out X Money, which has been in development since Musk acquired the social media platform. The project has faced pushback from US lawmakers, including Senator Elizabeth Warren, largely over concerns about access to users’ personal financial data and broader regulatory oversight.
Still, Musk said in March that X Money would launch in April.
Bier’s role at Solana Foundation
Nikita Bier joined X as head of product in June 2025, months after taking on an advisory role at the Solana Foundation in March.
Bier said he joined the project to help “select companies launch and grow their apps,” focusing on consumer-facing mobile products built on the network.
He said Solana had reached a stage where “apps can now top the charts,” adding that his role would involve helping promising companies scale and achieve mainstream mobile adoption.
Some community members have expressed skepticism about X’s potential “fix crypto” move, citing Bier’s ties to Solana.
Related: X mulls new rules for first-time crypto posts amid tortoise scam
“No clue what he’s launching, but my intuition is that it’s not good,” Pledditor wrote on X, pointing to Bier’s role at Solana.
Some users also noted Musk’s repeated public support for Dogecoin (DOGE), adding to skepticism around X’s plans.
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Pi Network has completed a major protocol update that brings it even closer to launching full smart contract capabilities on the network.
Summary
- Pi Network rolled out mainnet v21, moving closer to full smart contract support and improved network performance.
- Launch of a testnet RPC server will allow developers to build and test dApps ahead of mainnet deployment.
- Despite upgrades, Pi Network price remains under pressure, with a bearish breakdown pointing to a potential drop toward $0.131.
In an April 14 X post, the Pi Network team revealed that the Pi mainnet has successfully been upgraded to version 21, which introduces several critical performance enhancements.
This milestone is part of a series of strategic improvements intended to expand the ecosystem’s functionality. The most important one will be the introduction of smart contracts to the network, which will enable developers to build decentralized applications in a more efficient and scalable manner.
As such, the Pi team urged node operators to update their systems to the latest software version immediately. It also promised to share more details regarding the upcoming version 22 update soon, which is expected to further refine the network infrastructure.
Another major development shared by the development team is the launch of an RPC server on the Pi Testnet. This tool will enable developers to build, test, and deploy smart contracts before they go live on the main network. Besides this, it will also enable smoother integration with third-party wallets and analytical tools.
Once fully implemented, the upgrade will make Pi Network a direct competitor to other popular chains such as Ethereum or Solana, with the aim of boosting Pi token utility over time as new applications continue to be built on the network.
Pi Network (PI) price initially rose slightly higher to $0.167 on the day before paring off with all of its gains and settling at $0.165 at the time of writing. The token has been in a steady downtrend since late March, during which it fell by approximately 15%.
On the daily chart, Pi Network price has formed a descending triangle, a highly bearish pattern, over the past month. It confirmed a bearish breakout from the pattern as it fell below the lower horizontal trend line at $0.166.
Hence the path of least resistance for Pi Network price suggests a move downwards towards the Feb. 11 low of $0.131.
Momentum indicators such as the MACD and RSI strongly support the bearish forecast as they pointed downwards, suggesting that selling pressure remains dominant for now.
Disclosure: This article does not represent investment advice. The content and materials featured on this page are for educational purposes only.
Aave (AAVE), up 3.6% from Monday, joined Ethereum as a top performer.
The crypto market rose 4.3% on Tuesday, moving above the $2.6 trillion mark after reports emerged that Iran could be considering ending the war, as the U.S. naval blockade on Iranian traffic through the Strait of Hormuz continues to apply pressure.
Summary
- Crypto market cap jumped 4.3% above $2.6T as easing U.S.-Iran tensions boosted risk appetite.
- Bitcoin hit a 4-week high near $74.8K while $430M in short liquidations accelerated the rally.
- Cooling U.S. inflation data strengthened rate cut hopes, further supporting crypto prices.
Bitcoin (BTC) price rallied nearly 6% to a 4-week high of $74,788 today before paring off some of its gains and settling at $74,279 at the time of writing. Ethereum (ETH) was up 8%, perched at $2,363, while other major crypto assets such as BNB (BNB), XRP (XRP), Solana (SOL), and Dogecoin (DOGE) saw gains ranging between 2–5%.
Some of the top gainers of the day were RaveDAO (RAVE) with 86%, Algorand (ALGO) with 9%, and Canton (CC) with 8%. As crypto prices surged, it triggered over $430 million in short liquidations across crypto leveraged markets, forcing bearish traders to buy back crypto assets from the market, which further added upside momentum to the crypto market rally.
The Crypto Fear and Greed Index showed a reading of 54 in the neutral threshold, a sign that market sentiment has relatively eased as signs of potential de-escalation in the Middle East conflict appear.
Crypto prices moved higher today after reports emerged that Iran may be considering abandoning its uranium enrichment plans to negotiate for an end to the U.S.-Iran war. Notably, US President Donald Trump revealed that Iranian officials have called his administration and “want to work a deal.”
This comes just a day after the U.S. enforced a naval blockade on the Strait of Hormuz in an attempt to intercept military vessels moving to and from Iranian ports. However, the blockade excludes non-Iranian vessels, which helped calm immediate fears of a total global supply chain collapse.
The Iranian government, for its part, had earlier accused the US of committing piracy as thousands of Iranians rallied in Tehran against the blockade. They further warned that they would retaliate if any threats were directed against civilian ships and vessels.
Iran’s fresh attempt at diplomacy has reignited hope of a more concrete ceasefire being put in place, which could potentially lead to an end of the war and reopen the strait to normal traffic. Pakistan is reportedly offering to host the next round of talks between te in Islamabad.
Shortly following the news, crude oil prices fell from above $119 yesterday to approximately $88 as G7 and IEA reserve releases hit the market, reducing global inflation fears and favoring risk assets like crypto.
U.S. macro data points to cooling inflation
Crypto prices also benefited from recent macroeconomic data that pointed to moderating inflation trends. Notably, the PCE Price Index, the Federal Reserve’s preferred inflation gauge, released earlier this month, showed inflation holding relatively steady and offered some relief to markets.
Furthermore, JOLTS Job Openings came in below expectations, suggesting a softening labor market, while GDP growth remains steady but controlled.
Taken together, these indicators suggest that inflation pressures may be gradually easing, increasing the likelihood that the Federal Reserve could consider adjusting its policy stance later this year, a backdrop that tends to support risk assets like crypto.
Disclosure: This article does not represent investment advice. The content and materials featured on this page are for educational purposes only.
Crypto World
Nexo Becomes the official digital asset partner of Argentina’s national football team in LATAM
Disclosure: This article does not represent investment advice. The content and materials featured on this page are for educational purposes only.
Nexo partners with the Argentine Football Association (AFA) ahead of the 2026 FIFA World Cup, reinforcing the company’s expansion in South America.
Summary
- Nexo partners with Argentina’s national team as regional digital asset sponsor ahead of 2026 World Cup
- The deal strengthens Nexo’s expansion in Argentina following Buenbit acquisition and local hub launch
- Nexo and AFA formalize partnership in Buenos Aires, marking push into South American crypto market
BUENOS AIRES, Argentina, April 14, 2026 — Nexo, the premier digital assets wealth platform, today announced a partnership with the Argentine Football Association (AFA), becoming the Official Regional Digital Asset Partner of the Argentine National Football Team across South America ahead of the 2026 FIFA World Cup.
The agreement deepens Nexo’s expansion in Argentina, where the company recently acquired the leading platform Buenbit and is establishing Buenos Aires as a regional hub with its local team.
Federico Ogue, CEO at Buenbit by Nexo, said: “Argentina’s national team represents the highest level of sporting excellence, built on talent, conviction, and an unrelenting will to win. At Nexo, we share that standard. As we grow our presence in Argentina and across South America, partnering with AFA is a statement of commitment to this region and the clients we serve here.”
Official partnership ceremony
The partnership was officially launched at a gala ceremony in Buenos Aires, where Nexo and AFA executives signed the agreement before invited guests, media, and partners. The event marks the formal beginning of the collaboration ahead of the 2026 FIFA World Cup.
Leandro Petersen, Chief Commercial & Marketing Officer of the AFA, said: “We are excited to announce a new partnership with a strong global reach that aligns with the Argentine
Football Association’s international growth strategy, which we have been building in recent years through agreements with leading companies in innovation and technology. In this context, Nexo’s arrival as the Official Digital Assets Partner of the Argentine National Team reflects not only the growth of our brand globally but also the growing interest of international companies in partnering with Argentine soccer and one of the world’s most prominent national teams.
Success in elite sports, just as in business, is based on a clear strategy, discipline, and the ability to perform at the highest level when it matters most. Collaborating with partners who share this mindset allows us to continue expanding our ecosystem and create meaningful opportunities to connect our players, our brand, and millions of fans around the world.
Partnership activations
Nexo is starting a global ticket giveaway campaign for Argentina’s World Cup matches, open to new and existing clients. Signed squad shirts and co-created player content with Messi, Lautaro Martínez, Julián Álvarez, and Nico Paz will be distributed across the campaign window running from May through the end of the tournament. Nexo’s program will incorporate match-day experiences and squad merchandise, such as tier-linked rewards, connecting platform activity directly to the campaign.
Nexo is committed to global premium sport, serving as the Official Crypto Partner of the Australian Open and Summer of Tennis, the Official Digital Wealth Platform of the DP World Tour, and the Official Partner of the Audi Revolut Formula 1 Team.
Ahead of 2026 FIFA World Cup
The partnership adds a further dimension to Nexo’s U.S. relaunch. In February 2026, Nexo re-entered the United States market under a regulated framework, marking its first operational return to the country. Argentina arrives at the World Cup as reigning champions, competing across North American stadiums.
About Nexo
Nexo is a premier digital assets wealth platform designed to empower clients to grow, manage, and preserve their crypto holdings. Our mission is to lead the next generation of wealth creation by focusing on customer success and delivering tailored solutions that build enduring value, supported by 24/7 client care.
Since 2018, Nexo has provided unmatched opportunities to forward-thinking clients in over 199 jurisdictions. With over $8 billion in AUM and over $403 billion processed, we bring lasting value to millions worldwide. Our all-in-one platform combines advanced technology with a client-first approach, offering high-yield flexible and fixed-term savings, crypto-backed loans, sophisticated trading tools, and liquidity solutions, including the first crypto debit/credit card. Built on deep industry expertise, a sustainable business model, robust infrastructure, stringent security, and global licensing, Nexo champions innovation and long-lasting prosperity.
For more information, visit the official website.
About the Argentine Football Association (AFA)
Founded in 1893, the Argentine Football Association (AFA) is the governing body of football in Argentina and one of the oldest football associations in South America. AFA oversees the Argentine national team — the Albiceleste — three-time FIFA World Cup champions and current title holders, as well as the structure of Argentine club football.
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.
Nauru has appointed crypto entrepreneur Dadvan Yousuf as an international trade commissioner to help advance its digital asset strategy and attract global investment.
In a statement on Tuesday, President David Adeang said the appointment is part of the Pacific nation’s efforts to strengthen international partnerships and position itself as a hub for virtual asset activity. The government said Yousuf will support cross-border engagement with virtual asset service providers, financial institutions and technology firms.
The move comes less than a year after Nauru passed legislation establishing the Command Ridge Virtual Asset Authority (CRVAA), a dedicated regulator tasked with licensing and overseeing crypto firms, digital banks and other virtual asset activities.
The appointment marks a shift from establishing Nauru’s crypto regulatory framework to actively promoting itself as a jurisdiction for digital asset companies and investment, as the country says it is seeking new revenue streams and greater economic resilience.
Yousuf has previously been linked to regulatory action in Switzerland. In 2023, the Swiss Financial Market Supervisory Authority (FINMA) said a crypto project he founded sold millions of dollars in tokens without the required license and described the platform as non-operational, issuing cease-and-desist orders.
Nauru expands crypto push with trade appointment
According to the United Nations, Nauru is a Pacific island state in Micronesia, northeast of Australia, with about 21 square kilometers of land and roughly 12,500 people, making it the world’s third-smallest country and smallest island nation.
Adeang said Nauru’s digital asset push is intended to improve economic resilience and living standards while committing to international governance and compliance standards.
He previously said in August 2025 that Nauru, ranked among the most vulnerable to economic and climate shocks, is seeking to change its trajectory through new economic strategies.
Related: IMF guides Andorra to record and monitor Bitcoin transactions
The appointment adds a new outward-facing element to that strategy by pairing Nauru’s regulatory ambitions with a known figure in crypto circles.
In the announcement, Adeang said Yousuf brings “a unique combination of entrepreneurial vision, international network, and deep understanding of digital asset markets.”
Yousuf had previously attracted attention in the crypto sector after raising a Bitcoin flag atop Mount Everest in 2024. The Bitcoiner said the expedition was intended to highlight disparities in access to financial education.
Nauru surfaced in FTX-linked memo before crypto push
Nauru previously surfaced in crypto headlines in 2023 after court filings in the FTX bankruptcy revealed a memo proposing the purchase of the Pacific island nation using allegedly misappropriated funds.
The plan, linked to Gabriel Bankman-Fried, Sam Bankman-Fried’s brother, outlined building a bunker to survive a global catastrophe. However, Gabriel’s representatives denied involvement in drafting or endorsing the plan.
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