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SBF Withdraws New-Trial Motion, Seeks New Judge in Crypto Case

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Crypto Breaking News

Former FTX chief Sam Bankman-Fried has formally withdrawn a Rule 33 motion seeking a new trial in his criminal case, a development that sits alongside the ongoing direct appeal of his conviction and sentence. The procedural maneuver underscores the complexity of post-trial relief in a high-profile crypto-firm collapse and highlights how federal courts manage pro se filings in tandem with formal appeals. Bankman-Fried was convicted of fraud and related charges tied to the misuse of customer funds and was subsequently sentenced to 25 years in prison. He is currently incarcerated at the Federal Correctional Institution in Lompoc, California.

In a Wednesday filing with the U.S. District Court for the Southern District of New York, Bankman-Fried responded to a March 23 order from Judge Lewis Kaplan that asked whether he had received any assistance from lawyers for a pro se motion. The order followed prosecutors’ questions about whether he had filed for an extension of his Rule 33 motion on his own, and after his mother, Barbara Fried, submitted a letter on his behalf—though she lacked standing. Bankman-Fried stated that he authored the letter but consulted with his parents because the matter concerns both of them. According to Cointelegraph, the letter was publicly posted on the docket on Wednesday.

“I am the author of this letter, but did consult with my parents about it, since it concerns both of them,” he wrote, adding: “As I have had to focus on responding to these questions rather than drafting a response to the prosecution’s opposition, and because I do not believe I will get a fair hearing on this topic in front of you, I am now requesting to withdraw the Rule 33 motion, without prejudice to renewing it after my direct appeal and the related request for reassignment have been ruled upon.”

The filing also notes that Bankman-Fried had previously requested that a different judge decide whether to grant a new-trial relief, arguing that Kaplan demonstrated “extreme prejudice.” He remains subject to an appellate review of his conviction and sentence by the United States Court of Appeals for the Second Circuit. Neither the withdrawal of the Rule 33 motion nor the public letter appears to have altered the status of the ongoing appeal or the scheduled considerations in the Second Circuit.

Bankman-Fried’s case—once at the helm of a major crypto platform before his 2023 conviction—continues to draw attention for the procedural intricacies of post-conviction relief in financial-crime prosecutions tied to the crypto sector. The defense strategy around pro se motions, potential reassignment, and the timing of any renewed Rule 33 filing all carry implications for how similarly situated defendants may approach post-conviction relief in high-stakes crypto litigation.

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Key takeaways

  • The Rule 33 motion seeking a new trial has been withdrawn without prejudice to renewal after the direct appeal and potential reassignment rulings.
  • The withdrawal follows a court order requiring Bankman-Fried to address whether he received legal assistance for a pro se filing and after prosecutors questioned whether he filed for an extension independently.
  • The public nature of the pro se motion and related filings continues to shape the procedural landscape of Bankman-Fried’s post-conviction efforts, including potential reassignment to a different judge for future proceedings.
  • Bankman-Fried remains imprisoned while the Second Circuit reviews his conviction and sentence, with no immediate change to the appellate trajectory indicated by the filings.
  • Separately, Bankman-Fried has signaled a desire to seek a presidential pardon, a line of inquiry that intersects with political considerations surrounding crypto enforcement and regulatory policy.

Procedural developments in the SDNY case

The core of the latest filings centers on Rule 33 of the Federal Rules of Criminal Procedure, which governs motions for a new trial. By withdrawing the pro se motion, Bankman-Fried preserves his right to pursue post-trial relief at a later stage, provided the direct appeal and any requested reassignment advance. The court’s March order—prompted by questions from prosecutors about self-representation in the motion—highlights the careful scrutiny federal judges apply to pro se requests in high-profile cases where the government has raised concerns about the basis and timing of relief efforts.

Bankman-Fried’s legal strategy has frequently referenced the possibility of procedural remedies beyond the direct appellate route. The defendant had previously urged that a different judge oversee the motion, alleging that Kaplan’s conduct could prejudice the proceedings. The record indicates that, while the defendant and his representatives have sought to challenge procedural aspects, the substantive grounds of his conviction remain the central issue on appeal. The public docket release of the letter underscores the transparency expectations in cases of such notoriety, and it frames the ongoing dialogue between defense, prosecution, and the court on how to handle post-conviction requests.

Appeals trajectory and potential case reassignment

The Second Circuit remains the focal point for Bankman-Fried’s efforts to overturn his conviction and sentence. The appellate review assesses the sufficiency of the evidence, the conduct of the trial, and the integrity of the proceedings, among other considerations. The current withdrawal of the Rule 33 motion does not conclude the post-trial relief discussion, as a renewed motion could be pursued after the appellate process and any reconsideration of judicial assignments. The fact pattern here illustrates how a defendant may compartmentalize different post-trial avenues—an immediate appeal, a potential new-trial motion, and a potential reassignment—without all being resolved simultaneously.

The procedural arc also reflects broader regulatory and enforcement themes in crypto-related cases. Courts have increasingly grappled with how to manage complex financial-law claims connected to digital assets, with outcomes bearing implications for how firms structure governance, risk controls, and executive accountability within the sector. The SBF case, in particular, continues to inform debates about the boundaries of post-conviction relief in tech-enabled financial markets and the extent to which procedural vehicles can be used to challenge or refine prosecutions in crypto-adjacent offenses.

Public pardon discourse and broader political context

Beyond the courtroom, Bankman-Fried has publicly signaled interest in seeking a presidential pardon, a possibility he has discussed in interviews and on social platforms. Such actions intersect with political narratives around crypto regulation and enforcement. Bankman-Fried has claimed that statements by individuals associated with the federal government affected witnesses, a line that aligns with his broader public posture regarding the trial process. He has also posted public remarks praising former President Donald Trump’s cryptocurrency policies and expressing support for Trump’s broader policies in certain geopolitical areas.

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High-profile political stances in relation to crypto enforcement can influence regulatory expectations and political risk for crypto firms and investors, even though they do not determine the outcomes of criminal proceedings. Trump, for his part, has publicly indicated that he would not pardon Bankman-Fried, a stance reported in major outlets and part of the public discourse surrounding post-conviction possibilities. The interplay between executive clemency discussions, ongoing legal challenges, and regulatory oversight underscores how political developments may intersect with legal processes in crypto markets.

In sum, Bankman-Fried’s latest filings reveal a cautious approach to post-trial relief, while maintaining a broader strategy that includes appellate review and potential reconsideration of procedural avenues. The case continues to serve as a touchstone for regulatory policy, enforcement actions, and the evolving framework governing crypto entities and their leadership in an era of intensified oversight.

Looking ahead, observers will monitor the Second Circuit’s handling of the direct appeal and any renewed Rule 33 motion, as well as any developments related to reassignment procedures. The unfolding sequence will contribute to the jurisprudence shaping post-conviction relief in crypto-related prosecutions and will inform institutional compliance practices as regulators adapt to a rapidly evolving market structure.

Risk & affiliate notice: Crypto assets are volatile and capital is at risk. This article may contain affiliate links. Read full disclosure

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Banking Group Seeks Extension to Comment on US Stablecoin Bill

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Crypto Breaking News

The American Bankers Association (ABA) has urged US government agencies overseeing a forthcoming stablecoin payments framework to extend the public-comment window, signaling that the regulatory process could slip by as much as two months. The request highlights how the GENIUS Act’s implementation hinges on cross-agency rulemaking and the content of the OCC’s forthcoming rule.

In a letter to the Treasury Department, the Federal Deposit Insurance Corporation (FDIC), FinCEN and the Office of Foreign Assets Control (OFAC), the ABA asked for a 60-day extension to submit feedback on proposed rules associated with the GENIUS Act, which was signed into law in July 2025. The ABA argued that the agencies’ final rules will be substantially influenced by the OCC’s rulemaking, and that meaningful public comment is not feasible until the OCC’s content is known.

“The FDIC has stated explicitly in its notice that it ‘has endeavored, in many areas, to align this proposed rule with the OCC’s proposed rule, to the extent relevant,’ and specifically invites comment ‘on the extent to which the primary Federal payment stablecoin regulators should further align in their final rules to promote consistency of regulations applicable to all PPSIs subject to the GENIUS Act,’” the ABA wrote. “Meaningful comment on that question is impossible without knowing the final content of the OCC’s rule.”

Following its enactment, GENIUS-based implementation has shifted to regulators such as the FDIC and the Treasury, which must finalize their own regulations. Under the statute, final rules can trigger enactment 120 days after their issuance or 18 months after enactment, whichever comes first.

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Beyond the GENIUS Act, the ABA is engaged in broader policy debates over crypto market structure and the treatment of stablecoin yields. The association recently challenged a White House report that argued banning stablecoin yields would have a negligible impact on banks. The policy dialogue gains urgency as lawmakers in the US Senate consider advancing a separate crypto-market framework known as the CLARITY Act, which previously passed the House of Representatives but has yet to secure traction in the upper chamber. Reports indicate ongoing scheduling considerations by Senate leadership and committee chairs, underscoring continued regulatory uncertainty in this space.

Key takeaways

  • The ABA seeks a 60-day extension for public comments on GENIUS Act rulemaking, citing alignment needs with OCC’s forthcoming rule.
  • ABA officials argue that meaningful comments depend on the OCC rule’s final content, creating a sequential regulatory dependencies problem across federal agencies.
  • GENIUS Act implementation remains tied to a clear regulatory timetable: final rules can trigger enactment within 120 days or within 18 months of enactment, whichever occurs first.
  • Debates over stablecoin yields and market structure persist, with the CLARITY Act’s fate in the Senate contributing to ongoing policy uncertainty for banks, exchanges and stablecoin issuers.
  • The discussion illustrates heightened cross-agency coordination challenges and signals potential impacts on licensing, supervision and compliance workflows for crypto firms and traditional banks alike.

GENIUS Act rulemaking and interagency alignment

The ABA’s advocacy centers on the interaction between the OCC’s forthcoming stablecoin rule and parallel proposals from the FDIC, FinCEN and OFAC. The core concern is regulatory coherence: should the agencies align their final rules to ensure consistent treatment of all primary Federal payment stablecoin issuers (PPSIs) under the GENIUS Act? The ABA’s position reflects a broader industry demand for predictable, harmonized standards that reduce compliance fragmentation across banking and payments regimes.

From a regulatory design perspective, the unfolding process underscores how a landmark act can produce a multi-year, multi-agency rulemaking odyssey. Agencies argue that alignment is essential to avoid a patchwork of rules that could complicate risk management, AML/KYC controls and supervision of cross-border payment flows. The ABA’s request emphasizes practical consequences for institutions drafting governance, risk and compliance programs that must adapt to evolving standards across several federal agencies, particularly in the payments and stablecoin spheres.

Implementation timing and policy uncertainty in the US framework

The GENIUS Act’s path to effectuation depends on final rule content from multiple agencies. The statute allows enactment 120 days after final regulations are issued or 18 months after enactment, whichever comes first. This construct creates a two-front timeline: (1) regulatory finalize-and-publish cycles at the OCC and sibling agencies, and (2) the practical deployment of supervision and oversight for PPSIs and stablecoin-related payment systems. The ABA’s letter is a bid to ensure that the public comment process is not artificially constrained by uncertainties about the OCC’s final rule.

In parallel, the policy dialogue around crypto market structure remains active. The CLARITY Act—previously advanced in the House and now awaiting movement in the Senate—continues to shape expectations about how yield-bearing stablecoins may be treated within the broader licensing, capital adequacy and consumer-protection regimes. Observers note that even as individual provisions may differ between the House and Senate, the underlying concern is the same: how to balance market innovation with robust oversight and systemic risk mitigation. Senate discussions, including inputs from lawmakers such as North Carolina Senator Thom Tillis, indicate a careful, incremental approach rather than an immediate, sweeping reform.

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Regulatory coordination, enforcement and the broader policy context

The GENIUS Act episode illustrates a broader regulatory coordination challenge facing the US financial system as it engages with stablecoins and digital-asset payments. Agencies are weighing alignment on core issues such as KYC/AML controls, cross-border settlement risk, consumer protection and the resilience of payment rails. The interplay between the OCC’s forthcoming rule and the final versions from the FDIC, FinCEN and OFAC has practical implications for bank partners, fintechs and crypto firms that rely on or interact with PPSIs.

From a compliance and enforcement perspective, the ongoing harmonization effort could affect licensing trajectories, supervisory approvals and ongoing audits. Institutions may need to adapt policies to reflect a shared regulatory baseline, reducing the risk of conflicting interpretations across federal authorities. The evolving framework also has cross-border relevance, as global policymakers seek coherence between the United States’ approach and regional regimes—such as the European Union’s MiCA framework—and other jurisdictions evaluating similar stablecoin and payment-token regulations. While the current focus is domestic, observers are watching how interagency coordination and alignment will influence international cooperation, information sharing and enforcement coordination in the longer term.

According to Cointelegraph reporting, the public comment process remains a critical mechanism for industry input, and the ABA’s push for more time signals the stakes attached to regulatory predictability for banks, financial institutions and crypto market participants alike. The outcome of OCC deliberations and the extent of cross-agency alignment will likely shape the early implementation milestones of the GENIUS Act in the months ahead.

Closing perspective: as regulators refine the architecture of stablecoin payments, institutions should prepare for a period of intensified scrutiny and evolving standards. The next developments to watch include the OCC’s final rule content, how other agencies respond to it, and the progress—or stalling—of the CLARITY Act in the Senate, all of which will guide licensing, risk management and compliance strategy for market participants.

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Risk & affiliate notice: Crypto assets are volatile and capital is at risk. This article may contain affiliate links. Read full disclosure

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stop taxing every coffee and fix staking rules

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Kraken pushes xStocks to turn tokenized stocks into parallel equity rails

Kraken says it filed 56m 2025 crypto tax forms, most under $50, and is urging Congress to create a de minimis exemption and let users defer tax on staking rewards until sale.

Kraken is using this tax season to put hard numbers behind a long‑running complaint: the US treats trivial crypto transactions like serious taxable events.

According to figures shared with CoinDesk and outlined in its US tax center materials, Kraken generated roughly 56 million crypto transaction tax forms for the 2025 tax year under new Infrastructure Act reporting rules.

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The kicker is the distribution. Kraken says about 18.5 million of those transactions — roughly one‑third — involved amounts under $1, around 74% were for trades or payments under $50, and only 8.5% exceeded the $600 reporting threshold that normally triggers IRS information returns like Form 1099‑MISC.

Under current IRS guidance, each swap or spend is potentially a taxable event, regardless of size.
Kraken’s own tax guide notes that “most crypto activities are treated as either ordinary income or a capital gain,” and that trading, NFT purchases, staking rewards, and airdrops “are not tax exempt,” forcing users to track cost basis and fair market value even for micro‑purchases.

Kraken is now asking Congress to step in.

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The exchange is calling for a statutory de minimis exemption on everyday crypto payments — essentially a minimum dollar amount beneath which gains and losses would not be taxable — and wants that threshold indexed to inflation so it doesn’t erode over time.

At the same time, Kraken wants lawmakers to fix what it sees as a broken approach to staking rewards.
Revenue Ruling 2023‑14 currently requires taxpayers to include staking rewards in gross income when they gain “dominion and control,” i.e., at the moment they’re credited, even if the holder doesn’t sell tokens and the price later dumps.

Kraken argues that rule both complicates reporting and creates mismatches between paper income and actual liquidity. It is asking Congress to let taxpayers elect between two options: treat staking rewards as ordinary income at receipt (the status quo) or defer recognition until sale, effectively taxing them as part of capital gains when the position is exited.

Practically, the exchange says, this would align US policy more closely with how staking works in DeFi and on centralized platforms like Kraken, where rewards accrue continuously and are often re‑staked rather than cashed out. Unless Congress moves, though, US users face another year where buying a sandwich with crypto generates a line item for the IRS — and staking into a validator can mean owing tax on tokens they never sold.

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Ozwin Casino Australia Bonus Offers.370

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Bridging for Yield: Hidden Risk and Hidden Alpha

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    Best Crypto to Buy Now: Bittensor (TAO) Lands Institutional Push, Uniswap Ships AI Platform, and Pepeto Eyes 268x

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    Best Crypto to Buy Now: Bittensor (TAO) Lands Institutional Push, Uniswap Ships AI Platform, and Pepeto Eyes 268x

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    Top Entries Today and Where the Biggest Returns of This Cycle Are Being Set

    Pepeto: A Live Exchange Running While Most Platforms Ship Roadmaps

    Most crypto projects market clarity and ship noise. Pepeto, considered the best crypto to buy now, does the opposite. The exchange is operating right now, the signals actually guard wallets, and nothing sits parked behind a future release date. Presale holders are already routing trades through real market conditions rather than test environments.

    PepetoSwap clears every rotation with no fee taken, so nothing gets skimmed on the way out. Assets move between Ethereum, BNB Chain, and Solana through the multi chain bridge with zero gas cost. Before any token lists on the platform, the contract screener checks every line for exploit triggers and drain patterns, and SolidProof verified the full codebase.

    Former Binance leadership engineered the exchange side, and the cofounder who took the original Pepe coin to an $11 billion cap without any product behind it leads the token build.

    The 268x projection runs from $0.0000001865, staking pays 179% APY compounded every day, and the Binance listing narrows from “coming” into “imminent.” This is where a single listing event reshapes what a small entry does across the rest of the cycle, and $9.29 million of verified capital already sits inside.

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    Bittensor (TAO) Price at $247 as Grayscale Lifts AI Fund Weighting to 43%

    Bittensor (TAO) trades near $247 per CoinMarketCap, holding its $247 support zone after a 20% reset linked to Covenant AI’s April 16 exit. Grayscale raised TAO weighting to 43.06% in its AI Fund, the firm’s largest single asset reallocation on record per CoinGecko.

    Q1 2026 network revenue hit $43 million, and Grayscale plus Bitwise filed Spot TAO ETF applications on April 2 with an SEC decision expected by August 2026.

    Price targets sit between $360 and $410 for end of April per CryptoTimes if institutional flows extend, roughly 40% to 59% upside. Real on paper. But nothing close to what presale pricing delivers on listing day.

    Uniswap (UNI) Price at $3.40 as AI Developer Platform Goes Live

    Uniswap (UNI) trades near $3.40 per MetaMask with a $2.19 billion market cap. The Developer Platform rollout added AI native tooling, fresh liquidity provider endpoints, and updated documentation. The UNIfication vote passed in December 2025 turned on the fee switch, and ongoing burns trim UNI supply alongside DEX volume.

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    Analyst targets at $5 deliver UNI holders 53% upside if DEX volumes recover. Pepeto at $0.0000001865 pointed at $0.00005 is 268x, full stop.

    Conclusion

    April made one thing obvious. Capital rotates the second an institutional catalyst prints, and the ceiling stays hard for tokens already priced in the tens of billions. An entry sitting on a live exchange with a confirmed Binance listing does not lean on subnet tokens or AI toolkit releases to keep its return profile intact. That gap is what separates Pepeto from every other ticker chasing this rally.

    Shiba Inu minted millionaires out of wallets holding a plain ticker with nothing underneath it. Pepeto is loading that same viral force on top of an exchange already running live, a signed SolidProof audit, and a confirmed Binance listing that gets closer by the hour. Large holders already inside this presale know exactly what they are holding, and capital of that size does not park unless the path ahead reads clean.

    Hesitation at this price is what traders look back on as the mistake that defined the cycle. With buying pressure this thick and the Binance listing this near, the Pepeto window counts down in days, possibly hours, and the wallets still waiting for a cheaper floor become the ones watching someone else collect the gains this cycle.

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    Click To Visit Pepeto Website To Enter The Presale

    FAQs

    Why is Pepeto the best crypto to buy now over Bittensor (TAO)?

    Pepeto is the best crypto to buy now because its confirmed Binance listing sets a 268x catalyst from $0.0000001865 to $0.00005, backed by the creator of Pepe coin and a SolidProof audit. Bittensor (TAO) at $247 targets $360 to $410 per CryptoTimes, roughly 40% to 59% upside across weeks.

    How does Pepeto beat Uniswap returns for buyers entering today?

    Pepeto targets 268x from $0.0000001865 via a confirmed Binance listing while Uniswap (UNI) at $3.40 targets 53% toward $5. Pepeto’s 179% APY compounds positions every day regardless of DEX flow conditions, and the presale has already passed $9.29 million in verified capital.


    Disclaimer: This is a Press Release provided by a third party who is responsible for the content. Please conduct your own research before taking any action based on the content.

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    KelpDAO $290M Hack Wipes $13B From DeFi

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    Ethereum Foundation-funded project exposes 100 DPRK developers operating in crypto

    A $290 million exploit on KelpDAO’s cross-chain bridge on April 18, attributed by LayerZero to North Korea’s Lazarus Group, sent shockwaves through DeFi and erased more than $13 billion in total value locked across protocols within 48 hours.

    Summary

    • Attackers drained 116,500 rsETH worth approximately $290 million from KelpDAO’s LayerZero-powered bridge on April 18 in 2026’s largest DeFi exploit to date.
    • LayerZero has attributed the attack with preliminary confidence to North Korea’s Lazarus Group, specifically its TraderTraitor subunit.
    • The fallout triggered over $13 billion in outflows from DeFi platforms including Aave, which froze rsETH markets on both its V3 and V4 deployments.

    Attackers drained 116,500 rsETH, worth approximately $290 million, from KelpDAO’s LayerZero-powered cross-chain bridge on April 18, in what CoinDesk has called 2026’s largest DeFi exploit to date. LayerZero, whose infrastructure underpinned the bridge, said in a statement Monday that “preliminary indicators suggest attribution to a highly sophisticated state actor, likely DPRK’s Lazarus Group.”

    KelpDAO Hack Triggers $13 Billion DeFi Meltdown

    The attack worked by compromising two remote procedure call nodes that LayerZero’s verifier relied on to confirm cross-chain transactions, then flooding backup nodes with junk traffic to force failover to the poisoned endpoints. Once the verifier signed off on a fabricated transaction, the bridge released $290 million in rsETH to an attacker-controlled address. The malware then self-destructed, wiping binaries and logs to frustrate forensic investigation. As crypto.news reported, the exploit triggered over $10 billion in outflows from Aave alone, with the lending protocol’s total value locked dropping from $45.8 billion to $35.7 billion as users scrambled to exit. UPI reported that more than $13 billion was wiped from total value locked across DeFi platforms in the two days following the breach.

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    LayerZero and KelpDAO Trade Blame Over Security Configuration

    A dispute has erupted over who bears responsibility for the vulnerability that made the attack possible. LayerZero said KelpDAO had chosen to operate a 1-of-1 decentralized verifier network configuration, a single point of failure it had repeatedly warned against, and announced it would no longer sign messages for any application using that setup. KelpDAO pushed back, telling CoinDesk its configuration followed LayerZero’s own documented defaults and that the compromised validator was part of LayerZero’s own infrastructure. As crypto.news documented, independent security researchers including a Yearn Finance developer found that LayerZero’s public deployment code ships with single-source verification defaults across every major chain, undercutting the firm’s claim that KelpDAO had deviated from guidance.

    What the Hack Means for DeFi Security and Institutional Confidence

    The KelpDAO exploit is the second major DeFi breach linked to Lazarus in April alone, following the $285 million Drift Protocol attack on April 1, bringing the group’s total DeFi haul for the month to over $575 million. The attacker has since begun laundering the stolen funds, routing assets through Arbitrum and into Tron-based stablecoins, as crypto.news has tracked. Jefferies has warned that marquee hacks of this scale could temporarily slow Wall Street’s appetite for tokenization projects, as institutions reassess the security risks embedded in DeFi bridge infrastructure. LayerZero said it has confirmed zero contagion to other applications running multi-verifier configurations, but has forced a protocol-wide migration away from single-validator setups.

    LayerZero said it is working with KelpDAO, the Security Alliance, and law enforcement agencies to trace the stolen funds, though the attacker’s use of privacy tools has significantly complicated recovery efforts.

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    Eric Trump Sparks 5% Meme Coin Surge With Fresh Justin Sun Attack

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    Justin Sun with Comedian Artwork. Source: X (formerly Twitter).

    Tron founder Justin Sun filed a 52-page fraud lawsuit against World Liberty Financial (WLFI) this week. Eric Trump quickly fired back.

    The complaint lists seven causes of action, including fraud in the inducement, conversion, and unjust enrichment. Sun invested $45 million in the Trump family-backed project.

    Trump and Witkoff Reject Sun’s Claims

    Eric Trump took aim at Sun’s infamous $6.2 million banana artwork purchase, calling it more ridiculous than the lawsuit itself.

    “The only thing more ridiculous than this lawsuit is spending $6 million on a banana duct-taped to a wall. We are incredibly proud of the @worldlibertyfi team…,” President Donald Trump’s son commented.

    Justin Sun purchased the viral art piece Comedian, a banana duct-taped to a wall, for $6.2 million at Sotheby’s in November 2024.

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    Justin Sun with Comedian Artwork. Source: X (formerly Twitter).
    Justin Sun with Comedian Artwork. Source: X (formerly Twitter).

    Zach Witkoff, WLFI co-founder, called the lawsuit a “desperate attempt to deflect attention from Sun’s own misconduct.” He said the project expects the case to be thrown out promptly.

    WLFI allegedly froze 595 million of Sun’s unlocked tokens in September 2025. A smart contract update had introduced a blacklist function.

    His frozen position reportedly lost more than half its value as the token declined.

    Banana Gun (BANANA) Price Performance
    Banana Gun (BANANA) Price Performance. Source: BeInCrypto

    Banana Gun (BANANA) price is up by almost 6% on the news, to trade for $4.01 as of this writing.

    Critics Draw Parallels to Past Failures

    Bitcoin advocate Simon Dixon compared WLFI to collapsed platforms like Celsius Network and FTX. He alleged the project uses its illiquid token to mint its own stablecoin. Dixon claimed insiders then earn yield from US Treasury debt.

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    “So World Liberty Financial allegedly uses its illiquid token WLFI (like CEL did with Celsius and FTT did with FTX) to mint its own stablecoin, allowing it to buy U.S. Treasuries and earn millions in yield from U.S. government debt, while the co-founder’s father (Witkoff) negotiates a nuclear deal in the war that his co-founder’s father (President Trump) started after tearing up the last Iran deal. The Trump and Witkoff families are using a token to earn yield on the debt the U.S. government is incurring from the Iran war. Let that sink in. Follow the money,” wrote Dixon.

    A viral thread from self-described Web3 ambassador Peter Girnuz detailed alleged insider allocations and governance manipulation. Witkoff denied any association with Girnuz.

    Follow us on X to get the latest news as it happens

    WLFI Price Performance.
    WLFI Price Performance. Source: BeInCrypto

    WLFI trades near $0.079 at the time of writing, down roughly 74% from earlier highs and almost 1% in the last 24 hours.

    The post Eric Trump Sparks 5% Meme Coin Surge With Fresh Justin Sun Attack appeared first on BeInCrypto.

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    BTC, ETH, XRP and More

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    Crypto Breaking News

    Bitcoin extended its rebound, clearing the $79,000 area and signaling renewed bullish momentum. A breakout above the nearby $78,333 resistance increases the likelihood of a move toward $84,000 if buyers sustain the gain, according to market observations surrounding the latest price action. Decode noted on X that BTC appeared ready for a short squeeze as bulls pressed higher, adding to the sense of a hopeful recovery for the broader market.

    On-chain signals offered cautious optimism. CryptoQuant analyst CW8900 highlighted that Bitcoin’s adjusted Net Unrealized Profit/Loss (NUPL) has turned positive, a sign that the market could be transitioning from distribution to accumulation. In parallel, the Bitcoin Bull Score Index (BSI) has returned to neutral territory for the first time since the bear market began, a development some analysts caution may still precede further volatility rather than guaranteeing an immediate upturn.

    Key takeaways

    • Bitcoin clears a key ceiling: BTC trading above $78,333 opens the door to a potential move toward $84,000, with a sustained push above the $79,000 mark reinforcing the bullish setup; a fall below the 20-day exponential moving average (~$73,758) would complicate the setup and could put $70,934 (the 50-day simple moving average) back into play.
    • Ether shows resilience above a pivotal level: ETH rebounded off the 20-day EMA near ~$2,273 and is eyeing a breakout beyond $2,465, which could clear the path toward $2,800; a dip below the 20-day EMA would raise the risk of a pullback toward the $2,157 area near the 50-day SMA.
    • Altcoins poised for a broader move: Several major assets are attempting to rise above resistance levels, signaling aggressive buying on dips and a possible wider risk-on rally for the sector.
    • XRP and trendline dynamics to watch: XRP has bounced from nearby moving averages and could target the downtrend line; a confirmed breakout above that line would bolster the case for a short-term uptrend toward around $2.
    • Mixed setups among popular assets: Cardano faces resistance in the region between the 50-day SMA and a downtrend line, while BNB has cleared $649 and could move toward $687 and then $790 if momentum persists.

    Bitcoin and Ether anchor the relief rally

    Bitcoin’s bid-up from the 20-day exponential moving average, which sits near $73,758, helped push the price above the $78,333 threshold. Should BTC hold above this level, traders anticipate further upside toward the mid-$80,000s, with $84,000 representing a potentially pivotal target. Conversely, a failure to sustain above the 20-day EMA would raise the odds of a pullback toward longer-term averages, including the 50-day SMA at roughly $70,934.

    Ether’s setup echoes the broader risk-on mood. After a bounce off the 20-day EMA around $2,273, ETH has shown signs of renewed demand, supported by upward-sloping moving averages and bullish momentum indicators in the near term. A clearance of $2,465 would clear space toward the $2,800 region, while a break below the 20-day EMA could pull ETH back toward the $2,157 level near the 50-day SMA.

    Altcoins in motion: XRP, BNB, SOL, DOGE and more

    XRP turned up from its short-term moving averages, suggesting traders are starting to view dips as opportunities. The bulls’ next milestone would be a push above the downtrend line, which could open a path toward $2 if momentum builds decisively.

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    BNB extended its recovery after clearing the $649 barrier. If buyers sustain the move, the next targets could lie near $687, with potential extension toward $790 should the uptrend gather pace. A failure to hold above the moving averages could keep the pair range-bound for the near term.

    Solana remains near key moving averages, with a break above $91 potentially opening a route toward $98 and, if sustained, toward $117. A slide back below the moving averages could prolong a period of range-bound action around the current levels.

    Dogecoin regained upside momentum, eyeing a test of $0.10 and, if buyers stay in control, a move toward $0.12. A sharp retreat below $0.09 would reintroduce risk of a deeper pullback toward the February low around $0.08.

    Hyperliquid has bounced off the 50-day SMA near $38.41, signaling dip-buying activity. The 20-day EMA is flattening and the RSI sits near the midpoint, suggesting a possible range formation in the near term. A sustained move above $45.77 would be needed to re-ignite the uptrend, while a break below the 50-day SMA could drag the price toward the $34.45 level on a renewed pullback.

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    Cardano is testing the resistance zone between the 50-day SMA (approximately $0.26) and a downtrend line. A successful breakout above that line could push ADA toward $0.32 and then to $0.37, while a turn lower could keep the price within the descending channel for longer.

    Bitcoin Cash has clawed above the 50-day SMA around $454, with the moving averages hinting at bullish crossovers. If BCH can conquer the $486 resistance, a rally toward $520 becomes more plausible. A failure to sustain this level could keep BCH in a tighter range between the moving averages.

    Monero surged past $382 but faces a challenge in maintaining momentum. A close above this level would target a fresh ascent toward the chart pattern’s objective near $462, while a drop below $382 could see bears resume selling rallies and push XMR back toward the moving averages’ support.

    Overall, the current setup paints a picture of a tentative relief rally taking hold, with Bitcoin and Ether acting as the key anchors for broader market optimism. Yet, the spectrum of individual coin dynamics – from XRP and ADA to BCH and XMR – underscores the uneven pace of recovery across the sector and the ongoing influence of macro factors and on-chain signals.

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    Analysts note that while on-chain metrics have turned more constructive recently, the path forward remains uncertain. The market’s next moves may hinge on whether BTC can sustain above critical levels, whether ETH can push through sub-1% resistance zones, and how the rest of the crypto ecosystem responds to this renewed risk-on sentiment. As always, investors should manage risk and stay alert to shifts in technical levels and on-chain data.

    Watch for continued price action near the key levels highlighted above and for any fresh on-chain signals that could confirm or challenge the current narrative. The coming sessions will indicate whether this relief rally has legs or remains a tactical bounce within a longer-running regime of caution.

    Risk & affiliate notice: Crypto assets are volatile and capital is at risk. This article may contain affiliate links. Read full disclosure

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    American Bitcoin Stock Jumps 12% on Miner Expansion

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    Start mining BTC in minutes with no equipment

    Shares of American Bitcoin, the Trump family-linked mining company, surged approximately 12% on April 22 after the firm announced it had completed the deployment of 11,298 new ASIC miners at its Drumheller, Alberta site, expanding its active fleet to roughly 89,242 machines.

    Summary

    • American Bitcoin deployed 11,298 new ASIC miners at its Drumheller facility, adding 3.05 exahash per second of capacity and pushing total hashrate to 28.1 EH/s.
    • The stock jumped approximately 12% to $1.38 on the news, extending a broader recovery as Bitcoin prices climbed.
    • The expansion reinforces American Bitcoin’s decision to double down on Bitcoin mining while many rivals pivot capital toward AI data centers.

    American Bitcoin Corp., the Bitcoin mining and treasury firm co-founded by Eric Trump and backed by the Trump family, sent its stock up roughly 12% to $1.38 on April 22 after announcing the completion of a major fleet expansion. The company deployed 11,298 ASIC miners at its Drumheller, Alberta facility, adding approximately 3.05 exahash per second of mining capacity and pushing its total owned fleet to around 89,242 machines representing 28.1 EH/s.

    American Bitcoin Mining Expansion Defies the AI Pivot Trend

    The newly deployed machines operate at an efficiency of approximately 13.5 joules per terahash, which the company says lowers its electricity cost per coin and improves the profitability of its mining operations even as Bitcoin network difficulty continues to rise. The expansion completes a fleet buildout that was first announced in March, making American Bitcoin one of the more aggressive scale-up stories among publicly traded miners in 2026. “Scaling hashrate is one of the ways we strengthen our position in Bitcoin,” Eric Trump, the company’s co-founder and chief strategy officer, said in a statement. “Bringing these miners online at Drumheller reflects exactly how we intend to lead: moving quickly, allocating capital with discipline, and growing our Bitcoin exposure efficiently at institutional scale.”

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    A Deliberate Bet on Mining as Rivals Shift to AI

    The deployment represents a strategic statement as much as an operational update. Several major publicly traded Bitcoin miners have been redirecting capital and infrastructure toward artificial intelligence and high-performance computing data centers, where margins and demand have attracted significant institutional interest. American Bitcoin has chosen the opposite path, committing to large-scale mining as its core value driver. The company’s Bitcoin treasury now sits at approximately 7,000 BTC, and its business model is built around accumulating Bitcoin below spot price through scaled mining operations. As crypto.news reported at the company’s September Nasdaq debut, American Bitcoin positions itself as an institutional-grade vehicle for Bitcoin exposure, leveraging Hut 8’s infrastructure for mining and at-market purchases to maximize Bitcoin per share. The stock has faced significant volatility since listing, falling from a peak near $13 to around $1 before Tuesday’s rally.

    What the Expansion Means for American Bitcoin’s Market Position

    With its fleet now at 89,242 machines and an operational capacity of 25 EH/s across nearly 59,000 active units, American Bitcoin is deepening its structural advantage over competitors that have diluted their mining focus. The new hardware operates at above-average efficiency relative to the company’s existing fleet, which the firm says will lower its overall cost basis per Bitcoin mined. As crypto.news tracked, the stock has faced multiple pressure points since going public, including a sharp lockup expiry-driven selloff in December 2025, making the current recovery meaningful context for investors watching whether the operational expansion can translate into sustained price support.

    American Bitcoin has scheduled its first quarter 2026 earnings call for May 6, where investors will be watching for updated Bitcoin production figures, treasury size, and the company’s cost-per-coin metrics following the completed Drumheller expansion.

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    BTC tops $79,000 as crypto rally accelerates; MSTR, COIN, CRCL jump

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    BTC price and average perp funding rates (K33)

    Bitcoin climbed above $79,000 on Wednesday, hitting its strongest level since early February as a long-awaited breakout attempt gathered momentum.

    The largest crypto rose 4.5% over the past 24 hours, leading major altcoins ether (ETH), BNB , Solana (SOL) and XRP higher. The broad-market CoinDesk 20 Index advanced 3.5%.

    Crypto-linked stocks also rose. Strategy (MSTR), the largest corporate BTC holder, jumped 10% while stablecoin issuer Circle Internet (CRCL) gained 9% and crypto exchange Coinbase (COIN) rose 6%. Bitcoin miners MARA Holdings (MARA) and Riot Platforms (RIOT) added 6%-7%.

    The broader macro backdrop also turned supportive. The S&P 500 rose 0.9%, and the Nasdaq added 1.3% to record highs, extending the risk-on environment.

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    The gains followed U.S. President Donald Trump’s remark late Tuesday that he would extend the Iran ceasefire while maintaining a naval blockade of the Strait of Hormuz. Still, uncertainty around peace talks remains.

    “BTC’s near-term direction remains highly dependent on macro and geopolitical developments,” said Paul Howard, a senior director at Wincent. He pointed to $72,000 as key support, with upside potentially could be capped near $80,000 range as traders take profits.

    Bitcoin short squeeze potential

    While macro risks are still in place, derivatives positioning could fuel the rally higher.

    Perpetual swap traders remain heavily skewed bearish, with seven-day funding rates at near three-year lows, noted Vetle Lunde, head of research at K33 Research. At the same time, open interest continues to trend higher, suggesting fresh leverage is entering the market.

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    BTC price and average perp funding rates (K33)

    “Rising leverage alongside deeply negative funding suggests shorts are steadily building in perps, increasing both the likelihood and potential magnitude of a short squeeze,” he wrote.

    “We continue to see strong breakout potential for BTC, with concentrated shorts providing ample fuel for a move higher,” Lunde added.

    The $80,000 area, however, carries additional weight for bitcoin. It aligns with the short-term holder realized price — a measure of the average cost basis for newer market participants, who tend to be more sensitive to volatility and more likely to sell into strength.

    For now, BTC is testing that hurdle. A clean move above it could signal stronger conviction behind the rally, but failing to hold could invite renewed selling pressure and profit-taking from shorter-term holders.

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