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US Fines Paxful $4M for Funds Linked to Trafficking and Fraud

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Crypto Breaking News

In a high‑profile enforcement action, Paxful, the peer‑to‑peer crypto exchange, was ordered to pay $4 million after admitting it knowingly profited from criminals who used its platform due to lax anti‑money laundering controls. The Department of Justice outlined that Paxful pleaded guilty in December to conspiring to promote illegal prostitution and knowingly transmitting funds derived from crime, in violation of federal AML requirements. The government also detailed that, between January 2017 and September 2019, Paxful facilitated more than 26 million trades valued at nearly $3 billion, earning about $29.7 million in revenue while turning a blind eye to illicit activity. The case centers on how a platform marketed itself as a lenient, low‑information exchange while neglecting core safeguards. The DOJ’s filing underscores that Paxful’s business model depended on attracting criminal users by downplaying compliance obligations.

The Justice Department highlighted that Paxful had agreed the appropriate criminal penalty would be $112.5 million, but prosecutors determined the company could not pay more than $4 million. The settlement reflects a broader push by federal authorities to curb crypto platforms that fail to implement or enforce anti‑money laundering measures, particularly when they facilitate illegal activities such as fraud, extortion, prostitution, and trafficking. The department said Paxful profited from moving money for criminals it attracted with the promise of minimal compliance, a dynamic prosecutors described as corrosive to legitimate finance and to users seeking lawful services.

The case traces to Paxful’s ambitious growth period from 2017 through 2019, when the platform reportedly handled tens of millions of trades and generated substantial revenue despite warnings from investigators about AML gaps. Prosecutors maintained that Paxful’s marketing messaging, which emphasized a lack of required customer information, paired with policies it knew were not implemented or enforced, created a permissive environment for illicit actors. The backers of the case say this approach allowed criminal actors to route funds through Paxful more readily than through regulated channels.

The Justice Department’s description of Paxful’s operational ethos is complemented by a notable cross‑industry connection: the crypto platform had ties to Backpage and a similar site during a period spanning 2015 to 2022, a relationship the government says contributed to Paxful’s profits, estimated at about $2.7 million. While Backpage’s platform was shut down due to illegal activities, the Paxful alliance is cited as a concrete example of how illicit networks exploited crypto rails to monetize wrongdoing. The department noted that Paxful’s founders publicly boasted about the “Backpage Effect,” portraying the collaboration as a catalyst for growth, a claim the government used to illustrate a deliberate strategy of enabling criminal transactions.

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The case also sheds light on Paxful’s eventual exit from the market. The exchange halted operations in November, and its October closure‑announcement post—later archived—depicted the decision as a response to “the lasting impact of historic misconduct by former co‑founders Ray Youssef and Artur Schaback prior to 2023, combined with unsustainable operational costs from extensive compliance remediation efforts.” Youssef publicly countered the timing of the closure, suggesting the firm should have closed when he left the company. Meanwhile, Schaback, Paxful’s former chief technology officer, pleaded guilty in July 2024 to conspiring to fail to maintain an effective AML program and awaits sentencing, with a California judge moving his hearing from January to May to accommodate ongoing cooperation with authorities. The DOJ’s account makes clear that a broader reckoning—beyond Paxful’s leadership—extends into the company’s users, employees, and the broader crypto ecosystem.

As authorities pursued the case, officials emphasized that the Paxful matter is not an isolated incident but part of a wider effort to tighten regulatory expectations on crypto marketplaces. The department pointed to the need for robust know‑your‑customer checks, comprehensive AML compliance programs, and proactive monitoring of suspicious activity to deter illicit uses of digital assets. The implications extend to other platforms that operate in the same space, signaling that permissive, low‑oversight models will attract intensified scrutiny from federal law enforcement and regulators.

Key takeaways

  • Paxful received a $4 million criminal penalty after pleading guilty to conspiracy related to illegal activities and AML violations, with prosecutors noting a potential maximum penalty of $112.5 million.
  • From 2017 through 2019, Paxful facilitated more than 26 million trades valued at nearly $3 billion and amassed around $29.7 million in revenue, according to DOJ filings.
  • The DOJ characterizes Paxful as profiting from enabling criminals by downplaying AML controls and failing to comply with applicable money‑laundering laws.
  • Prosecutors linked Paxful to illicit revenue streams via partnerships with Backpage and similar platforms, describing profits of about $2.7 million tied to those connections.
  • The company shut down operations in November, citing historic misconduct by former co‑founders and the costs of compliance remediation, with ongoing legal actions surrounding Schaback’s case and the broader investigation.
  • The case illustrates how enforcement agencies are escalating scrutiny of crypto marketplaces that permit lax due‑diligence and high‑risk activity, reinforcing expectations for AML programs across the sector.

Sentiment: Bearish

Market context: The Paxful action aligns with a broader tightening of crypto‑AML standards as regulators seek to normalize compliance expectations across peer‑to‑peer platforms, exchanges, and other digital asset services, influencing liquidity, risk sentiment, and enforcement tempo across the industry.

Why it matters

The DOJ’s settlement with Paxful underscores a pivotal moment for the crypto‑platform landscape. For users, it signals that providers must demonstrate verifiable diligence in their AML programs or face tangible penalties and reputational damage. For operators, the case reinforces the need to align platform design, user onboarding, and transaction monitoring with established legal requirements rather than relying on marketing narratives about anonymity or minimal information. The development also matters for builders and policymakers. It highlights the costs of lax controls and the potential for illicit activity to undermine trust in decentralized finance ecosystems, prompting crypto firms to invest more heavily in compliance technology, real‑time surveillance, and robust governance frameworks.

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From an investor perspective, enforcement actions like this can influence risk pricing and funding cycles for crypto platforms, particularly those with international user bases or complex payment rails. The Paxful narrative—centered on public statements by founders, internal policy gaps, and late‑stage remediation—serves as a cautionary tale about the fragility of business models that rely on permissive compliance postures. In a market where users increasingly demand transparency and regulatory alignment, the case emphasizes why credible AML programs are not merely a legal checkbox but a core driver of platform reliability and long‑term viability.

What to watch next

  • Schaback’s sentencing timing remains fluid, with a May hearing continuing to unfold as prosecutors incorporate ongoing cooperation into the government’s recommendation.
  • Any additional actions or disclosures related to Paxful’s former leadership could emerge as part of related investigations and settlements.
  • Regulators may intensify scrutiny of other P2P exchanges and non‑custodial marketplaces to assess AML controls, monitoring capabilities, and enforcement readiness.
  • Broader market reactions might reflect shifting risk sentiment as platforms adjust compliance investments and governance standards in response to high‑profile enforcement cases.

Sources & verification

  • U.S. Department of Justice press release: Virtual Asset Trading Platform sentenced for violating Travel Act and other federal crimes (link provided in the DOJ filing).
  • DOJ Criminal Division official X/Twitter post confirming the case details and sentencing status.
  • Paxful closure announcement (archived): Paxful closure announcement, noting misconduct and remediation costs.
  • Statements and coverage surrounding Ray Youssef’s response to Paxful’s closure and Artur Schaback’s guilty plea.
  • Related reporting on Paxful’s alleged “Backpage Effect” and the platform’s historical collaborations cited by prosecutors.

What the story changes

The Paxful case illustrates how enforcement actions tied to AML controls can reshape the operations and viability of crypto platforms that rely on rapid growth and minimal compliance. By tying significant penalties to proven misconduct and highlighting explicit links to illicit activities, authorities are sending a clear signal: robust, transparent AML programs are foundational, not optional. As the industry evolves, platforms may need to reassess their onboarding, transaction screening, and governance practices to withstand heightened regulatory scrutiny and to restore or preserve user trust in a landscape that continues to balance innovation with accountability.

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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Bitcoin price drops towards $65k as Trump warns of continued Iran strikes

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Bitcoin investors face ‘harvest now, decrypt later’ quantum threat

Bitcoin price drifted closer to a key support zone near $65,000 after Donald Trump signaled that military action in the Middle East is set to continue over the coming weeks.

Summary

  • Bitcoin slipped toward the $65,000 support zone after Trump signaled continued military action in the Middle East.
  • Oil prices climbed back above $100, adding pressure on risk assets as traders reacted to renewed geopolitical tensions.

Addressing the nation from the White House on Wednesday, Trump said U.S. forces are nearing the final stages of “Operation Epic Fury,” describing it as a campaign that has already crippled large parts of Iran’s nuclear and naval infrastructure. 

Even so, the tone of the address left little room for de-escalation in the short term.

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“We are on track to complete all of America’s military objectives shortly,” he said, before adding that the U.S. would “hit them extremely hard over the next 2 to 3 weeks.”

Markets reacted quickly. Oil prices reversed earlier softness and climbed back above the $100 mark, reflecting renewed concern over supply disruptions tied to the Strait of Hormuz. The move fed into broader unease, with equities and digital assets slipping as traders reassessed geopolitical risk.

Bitcoin (BTC), which had shown signs of stabilizing earlier in the week, extended its decline, dropping over 2% since Trump took the stage. Price action hovered just above $66,500 at last check, with buyers attempting to hold the $65,000 region that has repeatedly acted as a near-term floor.

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A sustained break below it would weaken the current structure and open the door toward the $60,000 range, an area that previously drew in demand during earlier pullbacks. Market participants have treated this zone as a key inflection point, where downside momentum either stalls or accelerates.

At the same time, diplomatic channels have not been fully shut. Trump has acknowledged that discussions are ongoing, even as military pressure builds.

Washington has continued to push for Iran to dismantle its nuclear program and allow greater oversight of its facilities, alongside restoring open commercial shipping routes. Tehran, on the other hand, has called for a permanent ceasefire, compensation for damages, and a complete withdrawal of U.S. forces from the region.

Looking ahead, Trump maintained that the disruption to global energy flows may not last indefinitely. He argued that Iran would eventually ease restrictions on oil movement as it looks to rebuild.

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“When this conflict is over, the strait will open up naturally,” he said, adding that oil would resume flowing and gas prices would fall as economic activity picks up again.

Any meaningful de-escalation could offer relief to risk assets, including Bitcoin, as lower energy costs and reduced geopolitical tension tend to support liquidity conditions. Until then, markets remain sensitive to headlines, with crypto trading closely tied to shifts in oil prices and broader macro signals.

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XRP Price Holds $1.35 as ETF Outflows Hit $31 Million While Pepeto Presale Fills Past $8 Million Before Listing

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XRP Price Holds $1.35 as ETF Outflows Hit $31 Million While Pepeto Presale Fills Past $8 Million Before Listing

The xrp price holds at $1.35 with seven spot ETFs but March posting first monthly outflows at $31 million. Bitcoin flushes and altcoins struggle to find real support. The market is being reminded that volatility exposes more than just weak hands. It exposes weak infrastructure.

Pepeto is a meme coin exchange aiming to bring zero fee trading to three chains, extending meme culture with real exchange tools instead of chasing short term rotations. Today is the day that matters. The entry available right now does not exist next week, and every person who entered early in crypto made one choice: they moved today.

XRP spot ETFs posted their first monthly outflows in March at $31 million despite holding $1 billion in combined assets across seven funds, according to Bankless Times. RLUSD stablecoin growth slowed after reaching $1.3 billion market cap.

CoinDesk confirmed the xrp price is also shaped by the CLARITY Act stablecoin compromise reaching the Senate Banking Committee by mid April, with commodity classification confirmed for 16 crypto assets that could accelerate institutional flows.

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Where a Meme Exchange Extends Trading With Real Tools While the XRP Price Waits

Why Pepeto Brings Zero Fee Trading to Three Chains Instead of Chasing XRP Price Rotations

Pepeto is built around one reality: volatility exposes weak infrastructure, and exchange tools that work across three chains do not depend on any single asset’s price direction. Instead of chasing short term rotations, Pepeto extends meme culture with real exchange tools: PepetoSwap for zero fee trading, a contract screener for wallet protection, and a bridge connecting Ethereum, BNB Chain, and Solana at zero cost. The architect behind the original $11 billion Pepe coin partnered with a former Binance expert to build this.

Staking at 189% APY adds a yield component XRP cannot offer during periods of stress. The SolidProof audit proves the contracts are safe, and $8 million entering at $0.000000186 while the index read 8 adds a conviction signal that XRP ETF outflows cannot match. The 420 trillion supply matches what took PEPE to $11 billion.

Today is the day that matters. The entry available right now does not exist next week. Every person who entered early in crypto made one choice: they moved today instead of planning to come back tomorrow. Analysts project 100x from presale to Binance listing, and one day of hesitation means one day closer to the listing price replacing what is available.

XRP Price Prediction: Targets, Levels, and CLARITY Act Impact for 2026

XRP trades at $1.35 on April 1 according to CoinMarketCap, locked between $1.29 and $1.60 after March’s first monthly ETF outflows at $31 million. RLUSD passed $1.3 billion market cap but growth stalled.

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The CLARITY Act stablecoin compromise targets a Senate markup by mid April, and passage could give XRP full commodity status alongside BTC and ETH. Support sits at $1.29, and a break below opens $1.10. Resistance at $1.60 needs to break for the rally toward $2 to begin.

Standard Chartered maintains its $8 year end target. From $1.35, reaching $5 gives 275% and reaching $8 gives 500%, both over quarters that depend on legislative timing nobody controls while the presale compresses 100x into one listing.

The XRP Price Waits for Legislation, but Today Is the Day That Matters for the Presale

Today is the day that matters. The entry available right now does not exist next week. The xrp price waits for the CLARITY Act and ETF flows to reverse, but Pepeto does not wait because exchange tools earn from every trade in every condition. The Pepeto official website shows more than $8 million with stages filling faster each round.

Entering today while the Binance listing approaches is how the one decision that separates winners gets made, and choosing to come back tomorrow could mean the stage is full, the price is higher, and the cost of one day becomes the number that echoes through the rest of this cycle.

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Visit Pepeto today before this presale stage closes and the Binance listing erases the entry that only exists right now.

Click To Visit Pepeto Website To Enter The Presale

FAQs

What is the xrp price on April 1 2026?

XRP trades at $1.35 with support at $1.29 and resistance at $1.60. Standard Chartered targets $8 year end if the CLARITY Act passes mid April.

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How do ETF outflows affect the xrp price?

March posted first monthly outflows at $31 million. The Pepeto official website shows capital entering during fear while XRP ETFs face redemptions.

Is Pepeto a better entry than XRP right now?

XRP targets 275% to 500% over quarters. Pepeto targets 100x from presale to listing with zero fee exchange tools and a SolidProof audit behind the same cofounder.

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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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Bitcoin slides to $66,600 as Trump threatens to hit Iran ‘extremely hard’

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Bitcoin slides to $66,600 as Trump threatens to hit Iran 'extremely hard'

Bitcoin fell 2.2% to $66,609 on Wednesday, giving back Tuesday’s gains after Trump’s primetime address to the nation promised to hit Iran “extremely hard” over the next two to three weeks rather than offering the de-escalation markets had priced in.

Every major token in the top 10 dropped. Ether slid 2.2% to $2,056, BNB fell 3.9% to $591, XRP lost 2.5% to $1.31, and solana’s SOL led losses at 5.2%, extending its weekly decline to 13%.

The selloff reversed a sharp global rally that had built through Tuesday on Trump’s earlier comments that the war could end within weeks and that a deal with Tehran was not a prerequisite. Asian stocks had surged 4%. S&P 500 futures had jumped. The mood was the most optimistic since the conflict began five weeks ago.

Then the speech happened. In nearly 20 minutes, Trump did not outline any shift in Iran policy, did not provide specifics on how operations would proceed, and did not signal any pathway to a ceasefire.

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The Strait of Hormuz, the critical oil shipping lane that has been effectively shut since mid-March, would reopen “naturally” once hostilities subside, he said, without offering a timeline.

Brent crude jumped 5% to above $106 a barrel. Asian shares fell 2.1%. U.S. and European equity futures dropped more than 1.2%. The dollar strengthened. Treasuries dropped on inflation concerns.

The crypto-specific picture is now familiar to the point of numbness. Bitcoin has spent five weeks bouncing between roughly $60,000 and $73,000, selling on every escalation headline, rallying on every de-escalation headline, and ending up roughly where it started.

The Fear and Greed Index sits at 8, deep in extreme fear territory, where it has been stuck between 8 and 14 for the past month.

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There is a seasonal argument for optimism. April has historically been one of bitcoin’s strongest months, finishing green 10 out of 15 years with an average gain of 20.9% versus an average decline of 8.8% in down years. Bitcoin also bounced firmly off its two-month uptrend support near $60,000 last week and is attempting to reclaim the 50-day moving average.

But seasonality doesn’t trade against a war. The pattern of the past five weeks — hope, headline, reversal — shows no sign of breaking until the conflict itself does.

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SpaceX Files for IPO That Could Dwarf Saudi Aramco’s Record

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SpaceX submitted a confidential draft Initial Public Offering (IPO) registration to the US Securities and Exchange Commission (SEC). This puts the company on track for a June listing.

The filing would position SpaceX as the first of three anticipated mega-IPOs this year, ahead of OpenAI and Anthropic

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

For context, in a confidential IPO filing, a company can receive comments and feedback from the SEC and make corrections or adjustments before any information becomes public.

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SpaceX could target a valuation above $1.75 trillion. The IPO could raise as much as $75 billion, according to Bloomberg. That would more than double Saudi Aramco’s $29 billion IPO in 2019, which held the record.

According to people familiar with the matter, SpaceX has enlisted Bank of America, Citigroup, Goldman Sachs, JPMorgan Chase, and Morgan Stanley for senior roles on the offering.

SpaceX is also weighing a dual-class share structure. This would grant insiders like Elon Musk enhanced voting power. 

Nonetheless, the path to a June listing is not without headwinds. Equity markets have been volatile due to the US-Iran conflict and elevated oil prices.

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The post SpaceX Files for IPO That Could Dwarf Saudi Aramco’s Record appeared first on BeInCrypto.

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ZachXBT Slams Circle for Letting Millions in Stolen USDC Flow Freely After Drift Hack

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Onchain investigator ZachXBT accused Circle of failing to act while millions in stolen USDC moved freely through its own cross-chain bridge during the $285 million Drift Protocol exploit.

The criticism followed the April 1 attack on the Solana-based decentralized exchange, which ranks as the largest DeFi exploit of 2026 so far.

Circle Faces Backlash Over CCTP Inaction

Drift Protocol, a perpetual futures platform on Solana (SOL), suffered a massive vault drain on April 1. Security firm PeckShield and blockchain analytics platform Arkham Intelligence flagged roughly $285 million in outflows from Drift’s main vault to attacker-controlled wallets.

The attacker moved stolen assets, heavily involving USDC, across multiple wallets before bridging them from Solana to Ethereum using Circle’s Cross-Chain Transfer Protocol (CCTP).

ZachXBT pointed out the transfers occurred during U.S. business hours with no intervention.

Circle was asleep while many millions of USDC were swapped via CCTP from Solana to Ethereum for hours from the 9-figure Drift hack during US hours,” the blockchain investigator stated.

Security researcher Specter echoed those concerns. He noted that the attacker held USDC across wallets for 1 to 3 hours before swapping and deliberately avoided converting to Tether (USDT) during the bridging process, suggesting confidence that Circle would not freeze the funds.

A Pattern of Contradictory Responses

The timing intensified frustration. Just days before the Drift exploit, Circle froze the USDC balances of 16 unrelated business hot wallets on March 23, as part of a sealed U.S. civil case.

That action disrupted operations for exchanges, casinos, and payment processors.

ZachXBT previously called that freeze potentially the most incompetent he had seen in over five years. He argued that, based on on-chain analysis, the wallets engaged in legitimate activity.

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Circle later unfroze one wallet linked to Goated.com on March 26, but most remained locked.

The contrast is stark. Circle acted aggressively on a civil matter affecting legitimate businesses. Yet during a confirmed nine-figure exploit, it took no steps to freeze stolen funds transiting its own infrastructure.

ZachXBT also tied this behavior to Circle’s proposed optional privacy features on its upcoming Arc blockchain. He suggested those features could reduce compliance accountability further by limiting who can view transactions.

What Comes Next for Circle and Drift

On the Ethereum side, stolen assets were swapped for roughly 129,000 ETH. Drift’s total value locked collapsed from approximately $550 million to $247 million, and its native DRIFT token fell nearly 28%.

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Drift Protocol TVL
Drift Protocol TVL. Source: DefiLlama

Circle has not publicly responded to the criticism. The incident has reignited debate over whether centralized stablecoin issuers can justify their freeze authority if they apply it inconsistently.

The post ZachXBT Slams Circle for Letting Millions in Stolen USDC Flow Freely After Drift Hack appeared first on BeInCrypto.

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US Labor Department Proposes Opening 401(k) Plans to Crypto

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US Labor Department Proposes Opening 401(k) Plans to Crypto

The U.S. Department of Labor released a proposed rule Monday that would open 401(k) retirement accounts to cryptocurrencies and other alternative assets – a direct implementation of President Trump’s August executive order and a structural shift that puts up to $12 trillion in retirement capital within reach of digital asset markets for the first time under a formal regulatory framework.

The proposal does not explicitly approve crypto for retirement plans. What it does is create a safe harbor for ERISA-governed plan managers who choose to include digital assets, provided they follow a defined fiduciary process – removing the single biggest legal deterrent that kept virtually every 401(k) administrator on the sidelines until now.

Key Takeaways:
  • Market size: Up to $12 trillion in 401(k) assets could gain access to crypto and other alternatives under the proposed rule, against a $48 trillion total U.S. retirement market.
  • Safe harbor structure: Plan managers must evaluate risk/return, fees, liquidity, valuation, and complexity – but face no explicit ban or approval of specific assets.
  • Timeline: A 60-day public comment period follows Federal Register publication; finalization expected within months, with Indiana’s state-level crypto mandate taking effect July 1, 2027.
  • Regulatory origin: OIRA cleared the proposal March 24, 2026, marking it “economically significant” – the highest regulatory classification, signaling broad expected market impact.

Discover: Top Crypto Presales to Watch Before They Launch

How the DOL Proposal Actually Unlocks 401(k) Capital for Crypto

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The mechanism is more precise than the headline suggests, and that precision matters enormously for how fast capital actually moves. Under ERISA, plan fiduciaries have always had the legal authority to consider alternative assets – the Labor Department acknowledged this directly in its statement.

The barrier was not statutory prohibition but regulatory ambiguity: a 2022 Biden-era compliance release urged plan managers to apply “extreme caution” to crypto, effectively signaling that inclusion would attract enforcement scrutiny. The DOL rescinded that guidance in May 2025, clearing the first obstacle.

The new proposal completes the regulatory architecture.

First, it defines digital assets formally as “a new form of investing that includes a wide variety of assets that can be stored and transmitted digitally, including cryptocurrencies such as bitcoin and other tokens” – giving plan administrators a documented regulatory definition to anchor their fiduciary analysis.

Second, it establishes a uniform evaluation framework requiring assessment of performance history, fee structures, liquidity profiles, valuation methodologies, and complexity disclosures.

Third, it extends ERISA’s existing fiduciary standard – care, skill, prudence, and diligence – explicitly to alternative asset selection, meaning a manager who follows the process has a defensible legal position even if the asset underperforms.

Deputy Secretary of Labor Keith Sonderling framed the shift directly: “Our rule clearly spells out that managers must evaluate any and all potential product offerings by following a prudent process.”

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That framing matters because it removes the asymmetric risk that previously defined the decision – where inclusion created legal exposure and exclusion did not. Treasury Secretary Scott Bessent described the proposal as “an initial step in implementing the President’s Executive Order in a safe and smart manner, broadening access to additional retirement plan options for millions of Americans.”

The most important variable now is not regulatory intent – it is whether the comment period produces material revisions that narrow the asset definition or tighten the liquidity requirements enough to functionally exclude most crypto products.

Discover: Best Crypto Exchanges for Active Traders in 2026

The post US Labor Department Proposes Opening 401(k) Plans to Crypto appeared first on Cryptonews.

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Oil trader takes $17 million hit as tokenized crude rivals bitcoin liquidations

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(CoinGlass/CoinDesk)

Crypto’s biggest liquidation event this week wasn’t about crypto.

Tokenized Brent oil futures on Hyperliquid accounted for $46.6 million of the $403 million in total liquidations over the past 24 hours, according to CoinGlass data, making oil the third-largest liquidated asset behind ether at $104.5 million and bitcoin at $98.3 million. Solana came in fourth at roughly $24.7 million.

The single largest liquidation across all assets was a $17.17 million Brent oil position on Hyperliquid, not a bitcoin or ether trade. That is the second time in under 30 days that oil has produced the largest individual liquidation on a crypto venue.

(CoinGlass/CoinDesk)

The BRENTOIL-USDC contract on Hyperliquid traded at $107.19, up roughly 2% on the day, with $977 million in 24-hour volume and $515 million in open interest. For context, that open interest figure is larger than many mid-cap crypto tokens’ entire market capitalization.

Oil trading on Hyperliquid. (Hyperliquid)

The liquidations were triggered by Trump’s national address, which promised to hit Iran “extremely hard” rather than offering the de-escalation that had fueled a two-day rally. Brent crude jumped 5% to above $106 on traditional markets.

Traders who had positioned for a ceasefire, particularly those long crypto and short oil, got hit from both sides.

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Of the $403 million in total liquidations across 137,031 traders, longs took the heavier hit at $234.6 million versus $168.7 million in shorts. That ratio reflects the broad selloff in risk assets after the speech reversed Tuesday’s optimism. The 4-hour window around the address saw $153.7 million liquidated, with $130.8 million from longs.

Hyperliquid’s tokenized commodity contracts, which give traders 24/7 access to oil, gold, and other macro assets with crypto-native leverage, are absorbing an outsized share of geopolitical volatility.

Tokenized oil has now been among the top five liquidated assets on at least three separate occasions since the war began, a dynamic that did not exist before Hyperliquid listed the contracts.

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Ethereum price approaches $2,200 as Iran signals willingness to end war

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Ethereum price has formed a cup and handle pattern on the daily chart.

Ethereum price rose nearly 7% on drawing closer to the $2,200 psychological resistance level after reports suggested that the U.S.-Iran war could end soon.

Summary

  • Ethereum price rose nearly 7% to $2,153, rebounding from recent losses.
  • Risk sentiment improved after signals of a possible ceasefire between Iran and the U.S.
  • A cup and handle pattern has formed on the daily chart.

According to data from crypto.news, Ethereum (ETH) price rose to a six-day high of $2,153 on Wednesday, April 1.

The recovery followed after the leading altcoin fell nearly 16% from its monthly high of $2,360 to $1,972 earlier on Monday. The drop occurred amid growing uneasiness in the market due to the back-and-forth attacks between the U.S. and Iran. A ripple effect of it was the blockade at the Strait of Hormuz, a key maritime corridor that has pushed oil prices to record highs.

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Ethereum price rebounded following reports that Iran’s president is willing to end the war with the U.S. and Israel if certain conditions are met.

While details of the demands are still not clear at the time of writing, they have previously called for more control in the Strait of Hormuz region, compensation for wartime damages on the nation, allowing it to continue its nuclear energy program, and a guarantee that the U.S. will not launch another attack on the country.

The U.S., for its part, has also signaled a potential ceasefire with Iran, even if the Strait of Hormuz remains closed, although Gulf countries like Saudi Arabia and the UAE have urged the U.S. to continue the war until the blockade is cleared. 

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Later today, U.S. President Donald Trump is set to give a speech where he will share major updates on Iran relations.

Notably, the impact of a potential resolution was already felt on energy markets as WTI oil prices dropped nearly 5% shortly following the report. Simultaneously, the crypto market surged along with U.S. equities such as the S&P 500.

Signs of de-escalation have offered Ethereum traders some short-term relief, easing the bearish pressure that emerged after Google’s quantum computing research raised concerns that Ethereum’s encryption could eventually be compromised.

On the daily chart, Ethereum price has formed a cup and handle pattern, a popular bullish continuation pattern in technical analysis. ETH price has recently broken out of the handle pattern, a sign that the upward trend is resuming.

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Ethereum price has formed a cup and handle pattern on the daily chart.
Ethereum price has formed a cup and handle pattern on the daily chart — April 1 | Source: crypto.news

Technical indicators suggest bulls have the upper hand at the moment. Notably, the 20-day SMA has crossed above the 50-day SMA, with Ethereum price eyeing the 50-day EMA next at $2,160. Additionally, the supertrend has flashed green, indicating a buy signal.

Hence, the next immediate resistance level that traders would be keeping an eye on lies at $2,200, a level where previous selling pressure has historically intensified.

A break above this level could spur Ethereum towards the neckline of the cup and handle pattern at $2,384, with the next major target at $2,450, which coincides with the 100-day SMA.

Disclosure: This article does not represent investment advice. The content and materials featured on this page are for educational purposes only.

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Attention bitcoin traders. These indicators matter more than what Trump says about Iran

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Attention bitcoin traders. These indicators matter more than what Trump says about Iran

The past four weeks have been brutal for bitcoin traders as prices keep chasing comments by President Donald Trump, who can’t make up his mind about Iran.

One day, he talks peace and BTC and risk assets go up while oil drops, the next day he talks hawkish again, sending BTC down and oil up. Meanwhile, Iran declares the Strait of Hormuz is “closed forever,” and analysts throw out wildly bullish and bearish oil targets. It’s nearly impossible to navigate this choppy environment.

Traders may be better off focusing on the following real indicators that actually matter. These, unfortunately, do not paint a positive picture for risk assets, including bitcoin.

The mid-April SPR cliff

The fate of the global economy and risk assets could hinge on the next couple of weeks as a managed oil disruption threatens to become an unmanaged one.

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After the Iran war began on Feb. 28, tanker traffic through the pivotal Strait of Hormuz, which handles roughly 20% of the world’s seaborne oil trade, all but collapsed. In response, the International Energy Agency’s 32 member nations agreed to the largest coordinated strategic stock release in its 50‑year history – about 400 million barrels, later raised to 426 million as more countries pitched in.

Those emergency barrels have been offsetting a supply shortfall of roughly 4.5 to 5 million barrels per day, the gap created by the near‑shutdown of Hormuz flows.

But now those reserves are expected to hit the wall in the next couple of weeks, in which case, that manageable deficit could double to roughly 10 to 11 million barrels per day – the projected deficit due to reserve depletion and disruption of normal flows.

The House of Saud described it as “a shock of unprecedented scale with no obvious buffer left to absorb it.”

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So it doesn’t matter whether Trump continues the war against Iran or stops. If oil supplies aren’t materially restored within the next two weeks, we could see massive risk aversion across both crypto and traditional financial markets.

Ship insurance premiums through Hormuz

A ship insurance premium is the payment a shipowner makes to an insurance company to protect against financial losses that could happen while operating the ship.

Insurance costs for navigating the Strait of Hormuz have increased significantly, with reports indicating rates jumping from less than 1% of ship’s value before the war to as high as 7.5% per trip. This means that a $100 million ship now has to pay around $2- $3 million in insurance, versus $250,000 before the conflict.

When premiums drop below 2%, that’s the clearest sign the route is genuinely safer, and it’s time to take risk in markets again. No press conference, briefing, or Truth Social post from Trump can replicate the certainty embedded in those prices.

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Tanker traffic

Trump has at times suggested that passage through the Strait of Hormuz can be secured, but so far, there is no clear evidence that tanker traffic has returned to anything like normal volumes.

In fact, only 21 tankers have transited Hormuz since the war began, compared with more than 100 ships daily before the conflict, according to S&P Global Market Intelligence.

A sustainable rally in risk assets requires this number to pick up materially; until then, Trump’s attempts to calm markets are likely to be short-lived.

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Crypto World

Dogecoin Price Stalls at $0.092 as Qubic Mining Goes Live While Pepeto Presale Fills Past $8 Million Before Listing

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Dogecoin Price Stalls at $0.092 as Qubic Mining Goes Live While Pepeto Presale Fills Past $8 Million Before Listing

The dogecoin price sits at $0.092 with Qubic launching its DOGE mining mainnet on April 1, but money flow reads exactly zero. Three presale names keep dominating the conversation, and Pepeto is the first meme exchange with zero fee trading and contract screening backed by the cofounder’s track record of $11 billion. DOGE turned small entries into fortunes with zero products behind it.

More tools behind Pepeto logically reaches more than what zero tools reached, and the debate about which entry leads this cycle is already settled by the $8 million that flowed in during fear.

Qubic launched its Dogecoin mining mainnet on April 1, adding a new demand catalyst for DOGE, but money flow reads exactly zero, signaling no clear buying or selling pressure, according to BeInCrypto. DOGE sits inside a descending channel with the upper trendline converging toward $0.099.

CoinPedia confirmed the dogecoin price is also shaped by the total memecoin market cap dropping from $50 billion to $33 billion since January, with speculative assets hit hardest in this risk off environment.

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Where the First Meme Exchange Outperforms While the Dogecoin Price Waits

Why Pepeto Is the First Meme Exchange With Zero Fee Trading and a Proven Track Record

Pepeto is the first meme exchange with zero fee trading and contract screening, combining the cofounder’s track record of building $11 billion with the exchange revenue and cross chain volume that pure meme coins cannot generate. The presale has raised more than $8 million at $0.000000186, and whales keep entering because the Binance listing converts presale positions into the returns the dogecoin price takes months to approach.

Just this cycle, one category of investor keeps outperforming: the ones who entered presales with real products during fear. PepetoSwap handles trades at zero cost across Ethereum, BNB Chain, and Solana. The risk scorer checks every contract.

A former Binance expert structured the listing, and a SolidProof audit verified the code is clean. Holders earn 189% APY through staking, and the 420 trillion supply matches what took PEPE to $11 billion.

DOGE turned small entries into fortunes with zero products behind it. More tools behind Pepeto logically reaches more than what zero tools reached. Analysts project 100x from presale to Binance listing, and the debate about which entry leads this cycle is settled by the capital that flowed in while DOGE flatlined.

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Dogecoin Price Prediction: Targets, Levels, and Mining Impact for 2026

DOGE trades at $0.092 on April 1 according to CoinMarketCap, holding above the 0.618 Fibonacci level at $0.088 inside a descending channel. Qubic’s mining mainnet is the first demand catalyst in months, but the total memecoin market cap fell from $50 billion to $33 billion since January.

A break above $0.099 could push DOGE toward $0.12 to $0.15 resistance. Support at $0.088 must hold or the dogecoin price risks sliding to $0.07. Analyst year end targets range from $0.15 to $0.30 depending on whether meme rotation returns.

From $0.092, reaching $0.30 gives 230% over months, returns that depend on timing nobody can predict while the presale compresses 100x into one listing.

The Dogecoin Price Debate Is Settled by the Capital That Already Entered Pepeto

DOGE turned small entries into fortunes with zero products. More tools behind Pepeto logically reaches more, and $8 million during fear already settled the debate about which entry leads. The Pepeto official website shows stages filling faster each round.

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Entering this presale while DOGE stalls and the Binance listing approaches is how the math that zero products proved gets multiplied by real exchange tools, and letting it pass while DOGE waits for meme rotation could be the one missed position where working products outperform everything that depends on sentiment alone.

Visit Pepeto before this presale stage closes and the Binance listing opens at a price nobody inside today will ever pay.

Click To Visit Pepeto Website To Enter The Presale

FAQs

What is the dogecoin price on April 1 2026?

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DOGE trades at $0.092 with Qubic mining live and money flow at zero. Analyst year end targets range from $0.15 to $0.30 depending on meme rotation.

How does the dogecoin price affect presale entries?

Meme coins stalling creates rotation into presales. The Pepeto official website shows capital entering during fear before the Binance listing arrives.

Is Pepeto a better entry than DOGE right now?

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DOGE targets 230% over months. Pepeto targets 100x to a confirmed listing with a full exchange platform and the proven track record of the PEPE cofounder.


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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