Crypto World
Velora DAO Votes to Wind Down, Hand Operations to Laita Labs
The DEX aggregator’s $415K treasury will be transferred to the protocol’s development company, along with future revenue.
Cross-chain DEX aggregator Velora has become the latest protocol to see its decentralized autonomous organization (DAO) vs. Labs structure come under pressure.
Today, April 10, Velora, formerly known as ParaSwap, passed PIP-77: Governance Evolution & Operational Alignment, a proposal to wind down its DAO and consolidate operations under Laita Labs, the development company that built the protocol. The proposal passed with 65.8% of voters for and 16.78% against the shift. 17.41% of voters abstained. Voting began on April 5, with Shutter shielding results until voting ended today.
The proposal transfers the roughly $415,000 remaining in the DAO treasury to Laita Labs to settle outstanding infrastructure costs. It also discontinues the DAO’s 20% protocol fee routing, retires the staking program with the exit lockup set to zero so stakers can withdraw immediately, and closes the futarchy governance pilot with approximately $19,000 remaining from its original $50,000 allocation.
Per the proposal, going forward, VLR becomes a governance-only token, with Snapshot reserved for structural decisions such as token migrations, new chain deployments, or activation of the contract’s 2% annual minting mechanism. Meanwhile, protocol operations, infrastructure, and revenue flow exclusively through Laita Labs.
Laita Labs framed the proposal as an alignment with existing reality: staking rewards and fee routing had already been inactive for months, governance participation had declined, and the DAO had primarily functioned as an off-chain signaling layer while the development team kept the protocol running.
Per DefiLlama data, Velora ranks eighth among DEX aggregators by 30-day volume at $2.06 billion, compared to category leader Jupiter’s $11.2 billion.
VLR, which launched in September of last year, is down 99% from its high of $0.06 just after launch.
Community Response
The proposal didn’t pass without community pushback. In the proposal discussion, community member VeloCryptor, who said they have been staking since day one, proposed three compromises, namely a smaller 5-10% revenue share, a treasury buyback reserve, or a conditional sunset tied to revenue staying low for another 6-12 months.
Laita responded by rejecting all three suggestions, saying even a partial share “brings back the same complexity we’re trying to move away from.”
Another community member, 12342, argued the proposal “shifts the token from something that had a clear economic alignment with the protocol’s success into a pure governance token with no direct value capture.” Supporter citizen42 backed the team, calling it “not a sunset, it will be a sunrise.”
Another community member, 12342, said in the proposal discussion that they are “strongly against this proposal,” arguing that it “shifts the token from something that had a clear economic alignment with the protocol’s success into a pure governance token with no direct value capture.”
A separate response to the proposal from citizen42 was more positive: “I have faith in Laita that when time comes value will return to token holders, in the meantime all in for operational simplicity.”
DAO vs Labs Model Under Pressure
The vote arrives as the DAO vs. Labs governance model shows cracks across DeFi. At Aave, a months-long dispute over fee distribution between tokenholders and Aave Labs spiraled into a full-blown contributor exodus. Most recently, Chaos Labs became the third core contributor to exit Aave in two months, following BGD Labs and the Aave-Chan Initiative, all citing governance misalignment.
At Balancer, a restructuring proposal published in March formalized the wind-down of Balancer Labs OÜ and consolidated all activity under a BVI entity operating as a direct agent of the DAO, slashing the team and cutting the annual operating budget by 34%.
Meanwhile, last month, DAO governance platform Tally shut down after six years, with its CEO citing reduced demand for DAO tooling as regulatory pressure eased.
This article was written with the assistance of AI workflows. All our stories are curated, edited and fact-checked by a human.
MetaMask now supports the ERC-7715 standard, allowing agents and dApps to request execution permissions on OP Mainnet.
Optimism announced that agents and decentralized applications can now request wallet execution permissions on OP Mainnet, with MetaMask enabling builders to request these permissions using the ERC-7715 standard. The update unlocks new permission models for dApps and agents operating on the Optimism network.
ERC-7715 is a token standard for permission-based execution, allowing for more granular control over what actions dApps and agents can perform with user wallets. The integration with MetaMask expands the capability of applications built on Optimism to implement sophisticated permission frameworks beyond basic transaction approval.
Sources: Optimism
This article was generated automatically by The Defiant’s AI news system from publicly available sources.
The Bitcoin (BTC) community is discussing the feasibility and implications of the Iranian government accepting BTC for tolls paid by oil tankers crossing the Strait of Hormuz, a critical shipping lane through which about 20% of the global oil supply passes.
The reactions were sparked by a Financial Times report, published on Wednesday, which said that the Iranian government was considering BTC payments for oil tolls to avoid sanctions imposed by the United States.
Several conflicting reports have been published since the Financial Times article, which suggest that the tolls are payable in stablecoins or Chinese yuan, according to Alex Thorn, the head of firmwide research at crypto investment firm Galaxy.
BTC advocate Justin Bechler said that stablecoins can be frozen by the issuer and cited the compliance controls introduced in the GENIUS stablecoin regulatory framework as reasons why the Iranian government would not collect tolls in US-dollar stablecoins. He said:
“USDT and USDC include built-in blacklist functions at the smart contract level. When an address is flagged, the issuer can freeze the tokens, rendering them completely illiquid. The law’s enforcement depends entirely on the compliance of issuers.
Bitcoin has no issuer, no compliance officer to pressure, and no freeze function. Iran’s pivot toward Bitcoin follows directly from this structural reality,” he added.
If the Iranian government begins accepting BTC for oil tanker payments, it would boost Bitcoin’s credibility as a neutral settlement layer for international transactions, advocates say.
Related: Crypto Biz: Will Bitcoin secure safe passage through the Hormuz Strait?
Iran would likely use QR codes to collect BTC payments
Thorn estimated that each oil tanker would need to pay between $200,000 and $2 million in tolls to pass through the Strait of Hormuz.
The initial reporting from the Financial Times cited a spokesperson for Iran’s Oil, Gas and Petrochemical Products Exporters’ Union, who said that ships would have a “few seconds” to complete payment in BTC.
This suggests that ships would pay via the Lightning Network, a layer-2 payment solution for BTC that allows parties to send transactions in seconds, rather than waiting for the 10-minute block confirmation.
However, the largest known transaction over the Lightning network to date has been for $1 million, Thorn said.
“More likely, the Iranian authorities would provide a QR code or alphanumeric Bitcoin address to the ships upon approval of their requests to pass through the Strait,” he added.
Magazine: Bitcoin may take 7 years to upgrade to post-quantum: BIP-360 co-author
The debate over how Iran might collect tolls from oil tankers crossing the Strait of Hormuz has intensified within the Bitcoin community. The chokepoint through which roughly 20% of global oil supply passes is now being discussed as a potential testing ground for Bitcoin as a cross-border settlement tool, following a Financial Times report that Iran was exploring BTC payments for tolls to dodge sanctions.
Since the FT piece, competing accounts have circulated about what form tolls could take. One line of speculation centers on BTC payments, while other reports point to stablecoins or even Chinese yuan as plausible settlement options. Analysts and advocates alike have stressed the issue is far from settled, but the core question remains: could Iran rely on Bitcoin to bypass traditional financial channels in a manner that would be visible at the corridor’s narrow, high-pressure lanes?
“If this development were to materialize, it would spotlight Bitcoin’s role as a neutral settlement layer for international trade,” according to proponents. Yet the discussion isn’t purely theoretical. The same debate touches on technical feasibility, sanctions risk, and the practical realities of on-chain settlement at oceanic scale.
The Financial Times report cited a spokesperson from Iran’s Oil, Gas and Petrochemical Products Exporters’ Union, who described toll payments as needing to be completed in seconds. That framing has led observers to consider the Lightning Network, a layer-2 solution built on Bitcoin designed for rapid, off-chain transactions, as a potential mechanism for toll settlement. The FT coverage suggested that ships could pay via a quick QR code scan or a Bitcoin address provided after ship clearance. If such a system were deployed, payments would be processed with minimal delay, sidestepping the slower on-chain confirmation times that typically accompany BTC transactions.
Nevertheless, the most widely discussed numbers in this narrative come from analysts who cautioned that any toll scheme would need to handle substantial value per voyage. Alex Thorn, head of firmwide research at Galaxy, floated the possibility of tolls ranging from several hundred thousand dollars to a few million dollars per tanker, depending on the vessel’s size and the crossing’s risk profile. Thorn also noted that, in practice, the largest publicly known Lightning Network transaction is around $1 million, underscoring the operational questions that would need to be resolved for high-volume, time-critical payments at sea. He emphasized that if Iran advances a toll collection framework, it would likely rely on a BTC payment point that ships can access upon approval to pass through Hormuz.
Key takeaways
- Iran’s potential acceptance of BTC for Hormuz tolls would mark a high-profile test of Bitcoin as a cross-border settlement layer amid sanctions pressures.
- Conflicting reporting suggests tolls could be payable in BTC as originally reported, or alternatively settled in stablecoins or yuan, highlighting uncertainty about the exact mechanism.
- Technical feasibility hinges on rapid settlement; while the Lightning Network enables near-instant transfers, the scale of toll payments per voyage could challenge current capacity, given historical LN transaction sizes.
- Advocates point to Bitcoin’s lack of a central issuer or blacklist, contrasting with regulated stablecoins that can be frozen, a factor some see as relevant to Iran’s strategic aim.
- If real, the development would have implications for the perception of Bitcoin as a neutral, global settlement layer and could influence regulatory discourse around cross-border crypto usage.
How the toll concept could unfold in practice
The Financial Times described a scenario in which Iranian authorities would require an extremely quick BTC payment as a ship enters Hormuz. In practical terms, this could involve generating a QR code or a Bitcoin address that the ship’s crew or their payment system would interact with upon receiving clearance. If adopted, this approach would lean on layer-2 solutions like the Lightning Network to keep settlement times short enough to match the navigational and regulatory checkpoints faced by vessels transiting the strait.
However, observers caution that the logistics are nontrivial. The strait’s traffic is heavy, and oil toll calculations can be complex, potentially varying with vessel type, cargo, and passage window. While the Lightning Network offers rapid settlement, its capacity and liquidity at scale for frequent, large-value payments remain an area for close monitoring. As Thorn noted, the largest documented Lightning transaction to date sits around the $1 million mark, which calls into question how a toll scheme would scale for multiple simultaneous crossings or exceptionally large tankers. The alternative—the use of QR codes or alphanumeric addresses—would still require robust onshore or on-chain settlement checkpoints to ensure compliance, routing, and reconciliation with oil-trade records.
Implications for Bitcoin, sanctions policy, and the broader market
Supporters argue that a successful BTC toll system at Hormuz would underscore Bitcoin’s potential as a decentralized, censorship-resistant settlement layer capable of operating in highly sanctioned environments. This line of thinking aligns with broader commentary about Bitcoin as an alternative settlement primitive for international trade, a view that has been echoed in various industry circles. Still, critics point to practical friction, including liquidity management on the Lightning Network, counterparty risk in a sanctioned domain, and the challenge of auditing cross-border flows when on-chain data may be partitioned or obfuscated by policy constraints and compliance regimes.
More broadly, the discussion touches on the evolving regulatory and technical landscape. Some analysts argue that, even if toll payments were settled in BTC, policymakers could still apply controls at different points in the transaction chain, including the gateways and exchanges used to bridge between crypto and fiat. Others highlight recent developments in stablecoin regulation as a reason why a BTC-centered toll arrangement would stand out as a unique case study in crypto-enabled sanctions evasion. As one commentator paraphrased, unlike stablecoins with built-in compliance layers, Bitcoin’s native architecture lacks a centralized issuer that can freeze or sanction tokens, a factor that some see as increasing Iran’s incentive to consider BTC payments in high-risk corridors.
Within the crypto industry, the discussion reflects a longer-running debate about Bitcoin’s credibility as a settlement medium for large-scale, real-world value transfers. Some proponents link this potential use case to arguments that Bitcoin could serve as a neutral, global settlement layer for complex financial transactions. Others urge caution, noting that even if such a toll system emerges, it would operate within a tightly controlled, geopolitically sensitive context that could limit its scalability and adoption outside the immediate environment.
What to watch next
Readers should monitor additional reporting from established outlets for confirmation about whether Iran will proceed with BTC tolls, stablecoins, or yuan settlements. The coming weeks could reveal more concrete details about the mechanics, governance, and interoperability of any toll-collection framework. If actual pilot payments materialize, investors and builders will want to assess the implications for Bitcoin’s transactional use in real-world, sanctioned corridors, as well as the potential regulatory responses that such a development might provoke.
In the meantime, developments at Hormuz will continue to test how crypto-native settlement concepts interface with one of the world’s most consequential energy chokepoints, offering a glimpse into how policymakers, banks, and blockchain networks might navigate the next era of cross-border trade.
Source notes: The Financial Times reported on Iran’s consideration of BTC payments for Hormuz tolls this week, with subsequent commentary from Galaxy’s Alex Thorn outlining alternative possibilities and scale considerations. See the FT coverage for details, and additional commentary linked to industry discussions on Bitcoin’s use as a settlement layer.
Congress is calling for a Polymarket investigation after at least 50 newly created accounts placed bets on a US-Iran ceasefire in the minutes before President Trump announced it on social media on April 9.
Summary
- At least 50 brand-new Polymarket accounts placed winning ceasefire bets minutes before Trump’s announcement.
- Representative Ritchie Torres sent a letter to the CFTC demanding a formal review of the platform.
- Senator Richard Blumenthal called Polymarket “an illicit market” for exploiting national security secrets.
The prediction market platform Polymarket is at the center of a congressional firestorm after the US-Iran ceasefire announcement. At least 50 newly created accounts placed bets on the outcome in the hours and minutes before President Trump posted about the deal, and most made no other bets before or since.
According to NPR, at least 50 new accounts placed substantial bets on a US-Iran ceasefire in the hours and minutes before President Trump posted the deal on social media. The accounts had no prior betting history and made no other trades, raising immediate suspicion of insider activity.
Rep. Ritchie Torres sent a letter to the CFTC demanding a formal investigation. Sen. Richard Blumenthal went further, calling Polymarket “an illicit market to sell and exploit national security secrets unlike any in history.”
A Pattern Polymarket Cannot Escape
This is not the first time suspicious betting has preceded a major geopolitical event. As crypto.news reported, six Polymarket accounts were previously accused of using insider information to profit from the timing of earlier US strikes on Iran, earning roughly $1 million and triggering the so-called DEATH BETS Act from Senator Adam Schiff.
Analytics firm Bubblemaps had flagged newly created wallets placing timely bets just hours before those strikes commenced. The pattern has now repeated with greater speed: the latest bets were placed in the minutes before the announcement, not just hours.
Regulatory and Legal Exposure
The CFTC issued an advance notice of proposed rulemaking on prediction markets in March 2026, with the comment window set to close on April 30. More than 10 anti-prediction market bills have been introduced in Congress since January.
As crypto.news noted, six Democratic senators previously urged the CFTC to ban contracts that resolve on or correlate to an individual’s death. Polymarket, which operates outside US jurisdiction and requires only a crypto wallet to trade, has not commented on the latest congressional demands.
Bitcoin $73,000 has proven an impassable ceiling for the third time since the ceasefire, dragging ETH, SOL, and DOGE lower as analysts say the market needs a clean break above $75,000 before any sustained upside is possible.
Summary
- Bitcoin has failed to break $73,000 for the third time since the US-Iran ceasefire was announced.
- ETH, SOL, and DOGE have slid on the day as BTC stalls at a level that has capped every rally since the war began.
- Analysts say $75,000 must break before the market enters a genuine bullish phase.
Ethereum, Solana, and Dogecoin are sliding on April 10 as Bitcoin fails again to break above $73,000. The level has acted as a ceiling for every relief rally over the six weeks of the Iran conflict, and the third rejection in as many days has renewed pressure on the broader altcoin market.
Bitcoin reached an intraday high of $73,111 on April 10 before pulling back, according to crypto.news market data. The repeated failure at this level has weighed on altcoin momentum, with ETH, SOL, and DOGE each recording losses on the day as Bitcoin’s hesitation discourages broad risk-on positioning.
The level has “capped every rally during the six-week war,” according to CoinDesk’s April 10 market daybook, with analysts saying $75,000 must break before the market enters a genuine bullish phase. Even the brief relief from softer core CPI data this morning was not enough to push Bitcoin through.
Altcoins Bear the Brunt
Ethereum, Solana, and Dogecoin each declined on the day, tracking Bitcoin’s inability to convert the $73,000 test into a breakout. The altcoin market is structurally leveraged to Bitcoin’s directional moves; when BTC fails resistance, altcoins tend to sell off faster and recover slower.
The three consecutive rejections at $73,000 have reinforced the view that the ceasefire alone was not enough to end the war’s grip on market sentiment. Traders are still pricing persistent geopolitical risk from an only partially open Strait of Hormuz and a fragile, untested peace process.
What Could Break the Resistance
A full diplomatic resolution from the Islamabad talks this weekend, including an unconstrained reopening of the Strait of Hormuz, would remove one of the market’s largest macro headwinds. As crypto.news noted, oil falling sustainably below $100 would likely shift macro sentiment in favor of risk assets, potentially providing the catalyst needed to break above $73,000 and trigger the next leg of altcoin recovery.
XRP is holding at $1.34 as traders await Senate action on the XRP CLARITY Act, with Congress returning from Easter recess on April 13 and a Banking Committee markup expected in the second half of the month.
Summary
- XRP is trading in a tight $1.34 to $1.35 range with modest 0.8% to 1.0% gains over 24 hours.
- The Senate Banking Committee markup of the CLARITY Act is targeted for the second half of April.
- Analysts say passage could unlock $4 to $8 billion in additional XRP ETF inflows, per Standard Chartered.
XRP has been in a holding pattern on April 10, trading between $1.34 and $1.35 as institutional investors wait for the US Senate to act on legislation that could permanently define XRP’s regulatory status. The next window opens April 13.
According to FX Leaders, XRP held between $1.33 and $1.35 on April 10, posting modest gains of 0.8% to 1.0% over the prior 24 hours. The range trade reflects a market waiting for a binary legislative outcome rather than responding to technicals.
The Senate returns from Easter recess on April 13, with the Banking Committee markup of the CLARITY Act targeted for the second half of the month. As crypto.news reported, Polymarket currently gives the bill roughly a 63% to 66% probability of becoming law in 2026. Senator Bernie Moreno has warned publicly that missing the May window risks pushing the legislation off the calendar for the rest of the year.
What the CLARITY Act Means for XRP
The CLARITY Act would formally define XRP as a digital commodity under US law, giving banks and large asset managers the legal certainty they need to commit capital at scale. Standard Chartered analyst Geoffrey Kendrick has projected that Senate Banking Committee advancement could unlock $4 to $8 billion in additional XRP ETF inflows.
Seven US spot XRP ETFs already pulled in $1.44 billion since launching between September and December 2025, without the CLARITY Act as law. With formal legislation in place, analysts say institutional capital currently sitting on the sidelines would have permanent legal cover to enter at scale.
The Clock Is Narrowing Fast
Ripple CEO Brad Garlinghouse has already pushed his expected passage timeline from the end of April to the end of May. As crypto.news noted, TD Cowen and multiple legal analysts have warned the bill could slip off the congressional calendar entirely if it does not clear the Senate before summer, with midterm election dynamics making a post-August push nearly impossible.
Treasury Secretary Scott Bessent has publicly urged Congress to act, writing in a Wall Street Journal op-ed that “Senate floor time is scarce, and now is the time to act.” For XRP traders, the $1.34 floor may hold until the Senate shows its hand.
TLDR
- Hong Kong Monetary Authority issued its first stablecoin licences to Anchorpoint and HSBC Hong Kong.
- Anchorpoint plans to launch HKDAP, a Hong Kong dollar-backed stablecoin, in a phased rollout.
- The Stablecoins Ordinance requires HK$25 million capital and strict compliance standards.
- Authorities enforce penalties up to HK$5 million and seven years imprisonment for violations.
- Global stablecoin market exceeds $311 billion, dominated by US dollar-based tokens.
Hong Kong regulators have issued the first stablecoin licences under a new legal framework. Authorities approved Anchorpoint and HSBC Hong Kong as initial issuers. The move establishes a regulated path for Hong Kong dollar-backed digital tokens.
Standard Chartered, HSBC Secure Early Stablecoin Approval
The Hong Kong Monetary Authority granted licences to Anchorpoint and HSBC Hong Kong under its stablecoin rules. Anchorpoint operates as a joint venture involving Standard Chartered, Animoca Brands, and HKT. The approval allows both entities to issue regulated stablecoins within Hong Kong’s financial system.
Anchorpoint confirmed plans to introduce HKDAP, a Hong Kong dollar-backed stablecoin, in phases during the second quarter. The company will use a structured rollout strategy targeting institutional and commercial use cases. It aims to support digital payments and tokenized financial transactions within regulated channels.
Bill Winters, Group Chief Executive of Standard Chartered, emphasized the bank’s commitment to financial innovation.
He said, “The issuance of HKDAP provides a regulated medium of exchange for modern financial markets.” He added that the initiative supports evolving global trade systems and digital finance adoption.
Anchorpoint Chief Executive Dominic Maffei highlighted the firm’s operational focus and ecosystem goals. He said the company will provide “secure, accessible, and regulated tokenized money” for users. He stated that this approach will reshape financial transactions and infrastructure across institutions and individuals.
The firm plans to deploy a B2B2C distribution model to expand adoption across different market segments. Selected distributors will connect the platform to end users and business clients. The strategy also supports partnerships with financial and technology service providers.
HKMA Framework Defines Capital and Compliance Standards
Hong Kong introduced its Stablecoins Ordinance in August 2025 to regulate digital asset issuance. The law established a licensing system and defined operational standards for issuers. Regulators designed the framework to ensure oversight and financial stability.
The ordinance requires issuers to maintain at least HK$25 million in paid-up capital. It also mandates HK$3 million in liquid assets for operational resilience. These thresholds aim to ensure financial strength among licensed participants.
Authorities set strict penalties for unauthorized stablecoin issuance under the new rules. Violators face fines of up to HK$5 million and possible prison sentences of seven years. Enforcement measures aim to maintain compliance and deter unlicensed activity.
The Hong Kong Monetary Authority also released guidelines on supervision and risk management practices. These rules include anti-money laundering and counter-terrorism financing requirements. Issuers must follow strict reporting and operational controls under regulatory supervision.
Data from CoinGecko shows the global stablecoin market exceeds $311 billion in total value. Most transaction volumes remain concentrated in US dollar-based tokens like USDT and USDC. Hong Kong aims to expand regulated alternatives tied to its local currency.
Officials continue to develop the licensing system to support controlled innovation in digital finance. The framework focuses on practical use cases like cross-border settlement and tokenized banking services. Authorities maintain oversight while enabling stablecoin adoption in regulated financial environments.
Crypto World
TAO Tanks 20% as Major Subnet Developer Accuses Bittensor Founder of ‘Decentralization Theatre’
The founder of Covenant AI announced the project’s departure from Bittensor last night, kicking off public accusations from both sides, and sending the subnet ecosystem down 26%.
Bittensor’s TAO token is the worst performer among the top-100 large-caps today, April 10, after a major subnet operator announced their departure from the ecosystem.
Yesterday evening ET, TAO plunged from around $338 to a low near $253 — a drop of roughly 25% — erasing close to $900 million in market cap, per CoinGecko data. The asset is currently down 20% over the past 24 hours, trading near $270 at press time.
The sell-off was triggered by an extended X post from Sam Dare, founder of Covenant AI, announcing the project’s departure from Bittensor, a decentralized artificial intelligence (AI) protocol.
In his statement, posted on X yesterday evening ET, Dare accused Bittensor founder Jacob Steeves (known online as “Const”) of exercising unilateral control over a network that presents itself as decentralized, alleging Steeves suspended emissions to Covenant’s subnets, stripped their moderation capabilities, deprecated their infrastructure, and applied economic pressure through large, visible token sales timed to moments of operational conflict.
“The entire premise of Bittensor… is that no single entity controls it,” Dare wrote. “That promise is a lie.”
Covenant AI operated subnets SN3, SN81, and SN39 — specialized sub-networks dedicated to specific AI tasks — and was the team behind Covenant-72B: the model whose reveal catalyzed a 90% TAO rally after Nvidia CEO Jensen Huang and investor Chamath Palihapitiya endorsed Bittensor’s decentralized AI training model on the All-In Podcast, as The Defiant reported previously.
Steeves pushed back in an X response on April 10, disputing each claim. He acknowledged selling some of his alpha holdings across Covenant’s three subnets, but said it was because they “were not running, and were on near 100% burn code” — and that the sales amounted to less than 1% of his total investment in the project.
He also denied having any ability to unilaterally suspend emissions, said Dare deprecated his own channels, and noted that visibility in token sales is “impossible to avoid” given his position.
Not everyone in the community is sympathetic to Dare’s account. Prominent Bittensor community member @DreadBong0 alleged that Dare dumped 37,000 TAO worth of subnet alpha tokens across the Grail, Basilica, and Templar subnets on the way out — a move that “completely destroyed the investments of everyone who followed and trusted these guys.”
DreadBong0’s X post called the alleged move a “rug for max extraction,” adding: “Maybe that’s wrong but that’s exactly how it looks to me.” The dump allegation has not been independently verified, and Dare has not publicly addressed it.
Subnet Ecosystem Suffers
The Bittensor subnets sector more broadly is down nearly 26% on the day per CoinGecko, with τemplar (SN3) — which had surged around 400% over the prior month to an over $150 million market cap — now down almost 63% in the past 24 hours.
Nearly $10 million in TAO long positions were liquidated in the past 24 hours, per CoinGlass data.
The Defiant had covered the TAO rally last month, noting the surge in Bittensor subnet tokens and the outsized role Covenant AI’s model played in driving enthusiasm.
The network has also attracted a wave of institutional interest, with publicly traded companies building TAO treasuries and, more recently, the potential conversion of the Grayscale TAO Trust into a spot ETF on the horizon.
This article was written with the assistance of AI workflows. All our stories are curated, edited and fact-checked by a human.
Coinbase CEO Brian Armstrong publicly supported Treasury Secretary Scott Bessent’s call to pass the CLARITY Act, citing the urgency of crypto regulation.
Coinbase CEO Brian Armstrong backed Treasury Secretary Scott Bessent’s push to pass the CLARITY Act on Friday, April 10, 2026. Armstrong publicly agreed with the urgency around crypto regulation and thanked Bessent for advancing the issue forward with bipartisan support in the Senate.
The endorsement from Armstrong, one of crypto’s largest institutional figures, adds pressure on Congress to act on the cryptocurrency regulation framework. The CLARITY Act aims to provide regulatory clarity for digital assets and their classification across U.S. financial regulators.
Sources: Brian Armstrong
This article was generated automatically by The Defiant’s AI news system from publicly available sources.
Crypto World
Best Crypto to Buy Now as Polkadot Lands on Robinhood and Breaks Key Pattern While DOT and NEAR Fight Back
Best crypto to buy now gets a fresh spark as Polkadot just landed on Robinhood, breaking out of a falling wedge pattern that held DOT down for weeks, according to Crypto.news. NEAR Protocol climbs in AI search rankings as developer interest picks up. But while both coins fight for recovery from 90%+ drops, the smart play is locking into the entry that benefits most before the crowd arrives.
Highlighted as the best crypto to buy now, Pepeto raised $8.86 million with analysts calling for at least 100x after the Binance listing. The presale is ending and pricing closes for good when trading opens.
Best Crypto to Buy Now Gets a Boost as DOT Hits Robinhood and Staking Reforms Go Live
Polkadot landed on Robinhood this week, triggering a breakout from a falling wedge that had capped DOT for over a month, according to Crypto.news. The listing opens DOT to millions of retail traders who never held it before.
On top of that, staking reforms cut the unbonding period from 28 days to just 24 to 48 hours, making DOT far more liquid for holders, according to CoinMarketCap. The 53.6% emission cut from March 14 is already live, capping supply at 2.1 billion. The best crypto to buy now gains directly when new onramps open, and the exchange already live at presale pricing with a Binance listing confirmed is where that wave hits hardest.
Where the Presale Sits Before DOT’s Robinhood Wave Plays Out
Pepeto
While DOT gets a fresh boost from Robinhood and NEAR draws developer buzz, the best crypto to buy now is not the large cap that needs trillions to move. Pepeto runs a contract scanner across Ethereum, BNB Chain, and Solana that catches dangerous tokens before your capital touches them. PepetoSwap handles trades with zero fees, and the bridge transfers assets between chains for free.
The presale pulled $8.86 million at $0.0000001863 during weeks of extreme fear. Staking pays 186% APY and keeps growing positions while each round fills. SolidProof went through the full codebase, the founder behind the original Pepe coin leads the build, and a senior Binance developer manages exchange operations. Analysts project 100x to 300x from one listing event, the kind of math that no large cap recovery can touch.
The Binance listing is the event that sends Pepeto from a fraction of a cent into open market trading where demand sets the price. Early holders who locked in at $0.0000001863 will be sitting on positions that the rest of the market pays multiples more to enter, and that gap is where the biggest returns of this cycle live.
Polkadot
DOT trades at $1.33 on April 10, down 98% from its $55 all-time high, according to CoinMarketCap.
The first US spot Polkadot ETF launched in March, and a 53.6% emission cut went live on March 14, cutting new supply in half. Resistance sits at $1.40 with $1.15 as support. Strong tech, but the path from $1.33 needs months of buying, not one listing event.
NEAR Protocol
NEAR trades at $1.38 on April 10, down 93% from its $20.44 high, according to CoinMarketCap. The AI-native blockchain now bridges to Solana and TON through Chain Signatures, pulling developer attention.
Support holds at $1.00 with $1.50 as resistance. Good narrative, but the recovery from $1.38 takes quarters of steady demand.
Conclusion
With DOT now live on Robinhood and NEAR pulling developer attention through AI integration, both coins have a path forward, but recovery from 90%+ drops takes quarters of patience. The best crypto to buy now for fast, high returns is the presale where the product already works and the listing is the only event left. Analysts project 100x from the Binance listing, and this is the last window to get presale pricing before trading opens.
DOGE started at $0.007 and made early holders rich enough to never worry about money again, and Pepeto carries more tools, a stronger team, and a confirmed listing that DOGE never had at that stage. The Pepeto official website is where smart money is getting in before the listing sets a higher floor.
Click To Visit Pepeto Website To Enter The Presale
FAQs
What is the best crypto to buy now after Polkadot’s Robinhood listing opens DOT to millions of new traders?
Pepeto is the best crypto to buy now because it raised $8.86 million with a SolidProof audit, a live zero-fee exchange, and a Binance listing confirmed, giving it 100x to 300x upside that large caps like DOT and NEAR cannot offer from their current prices.
Is Polkadot or NEAR Protocol a better buy than a presale with 100x potential right now?
DOT at $1.25 sits 98% below its all-time high and NEAR at $1.38 is 93% below its peak. Both need billions in new capital for big moves, while Pepeto at presale pricing delivers triple-digit returns from one listing event with working tools already live.
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.
13 thriller series on Amazon Prime Video that will make you squirm in your seat
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