SpaceX IPO, Monero Laundering Maze, and Metaplanet Shake Crypto Markets

Bitcoin hovered near $63,755 Friday morning as traders braced for the day's defining macro event: Elon Musk's SpaceX began trading on Nasdaq, capping the largest IPO in history after investors poured $75 billion into the offering. The listing cuts both ways for crypto. One theory circulating among analysts holds that recent outflows of over $5 billion from Bitcoin ETFs, which briefly dragged BTC…

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Bitcoin Plunges Toward $62K as ETF Outflows End and Zcash Bug Rattles Markets

Bitcoin extended its punishing slide this week, briefly touching $62,137 on Thursday as a broad crypto selloff deepened. The drop came after Broadcom's disappointing AI chip outlook dragged the Nasdaq lower for a third consecutive session, pulling digital assets down alongside equities. Crypto is now on course for its worst weekly performance since July 2024, with Ether falling 4.6% and XRP…

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Strategy ขาย Bitcoin ออกมาเป็นครั้งแรกในรอบหลายปี แม้ขายน้อยมากแต่ก็ทำให้ราคา Bitcoin ลดลงกว่า 7%

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Strategy บริษัทซอฟต์แวร์ที่ลงทุนในบิตคอยน์จำนวนมากของ Michael Saylor เปิดเผยว่าบริษัทได้ขายบิตคอยน์ถือครองไว้ออกมาระหว่างวันที่ 26-31 พฤษภาคมที่ผ่านมา จำนวน 32 BTC ราคาเฉลี่ย 77,135 ดอลลาร์ต่อ BTC ได้เงินไปประมาณ 2.5 ล้านดอลลาร์…

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Mastercard says it plans to offer on-chain settlement using several regulated USD stablecoins, initially supporting USDC, PYUSD, USDG, USDP, RLUSD, and SoFiUSD (Helene Braun/CoinDesk)

Helene Braun / CoinDesk:
Mastercard says it plans to offer on-chain settlement using several regulated USD stablecoins, initially supporting USDC, PYUSD, USDG, USDP, RLUSD, and SoFiUSD — The company plans to offer stablecoin, weekend and holiday settlement as demand grows for real-time movement of money. … What to know:

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SEC filing: Strategy sold 32 bitcoin between May 26 and May 31 for ~$2.5M, at an average net price of $77,135 per coin, its first disclosed bitcoin disposal (CoinDesk)

CoinDesk:
SEC filing: Strategy sold 32 bitcoin between May 26 and May 31 for ~$2.5M, at an average net price of $77,135 per coin, its first disclosed bitcoin disposal — The 8-K filing Monday says proceeds from the May 26-31 sale, executed at an average price of $77,135 a coin, will fund distributions on Strategy's preferred stock.

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Coinbase launches direct Indian rupee deposit and withdrawal rails via the Immediate Payment Service, aiming to remove its reliance on P2P and intermediaries (Omkar Godbole/CoinDesk)

Omkar Godbole / CoinDesk:
Coinbase launches direct Indian rupee deposit and withdrawal rails via the Immediate Payment Service, aiming to remove its reliance on P2P and intermediaries — Coinbase announces INR rails to make the platform fully accessible to Indian retail traders. … What to know:

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The CFTC files alongside Gemini to nullify Gemini's $5M settlement in January 2025, arguing that the agency's current management wouldn't have pursued the case (Jesse Hamilton/CoinDesk)

Jesse Hamilton / CoinDesk:
The CFTC files alongside Gemini to nullify Gemini's $5M settlement in January 2025, arguing that the agency's current management wouldn't have pursued the case — The regulator went back to analyze the 2022 case and decided that it wouldn't have been pursued under current management and practices.

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Nasdaq-listed Bitcoin Depot, North America's largest bitcoin ATM operator, files for bankruptcy, blaming "increasingly stringent compliance obligations" (Omkar Godbole/CoinDesk)

Omkar Godbole / CoinDesk:
Nasdaq-listed Bitcoin Depot, North America's largest bitcoin ATM operator, files for bankruptcy, blaming “increasingly stringent compliance obligations” — Bitcoin Depot, the largest bitcoin ATM operator in North America and publicly listed on Nasdaq, has filed for Chapter 11 bankruptcy.

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LA-based Fasset, which offers stablecoin-powered banking and cross-border payments services across Asia, Africa, and the Middle East, raised a $51M Series B (Krisztian Sandor/CoinDesk)

Krisztian Sandor / CoinDesk:
LA-based Fasset, which offers stablecoin-powered banking and cross-border payments services across Asia, Africa, and the Middle East, raised a $51M Series B — The Shariah-compliant digital bank is part of a growing wave of fintech startups building banking and payments services on top of blockchain and stablecoin rails.

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Bitcoin miner MARA Holdings agrees to acquire Ohio gas plant operator Long Ridge Energy & Power for $1.5B including debt, to power its AI data center expansion (Francisco Rodrigues/CoinDesk)

Francisco Rodrigues / CoinDesk:
Bitcoin miner MARA Holdings agrees to acquire Ohio gas plant operator Long Ridge Energy & Power for $1.5B including debt, to power its AI data center expansion — The deal includes a 505 MW gas plant and 1,600 acres in Ohio, offering over 1 GW power capacity for future AI and IT buildout.

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Visa says its stablecoin settlement pilot supports nine networks, including Base, Polygon, Canton Network, Arc, and Tempo, and has hit a $7B annualized run rate (Krisztian Sandor/CoinDesk)

Krisztian Sandor / CoinDesk:
Visa says its stablecoin settlement pilot supports nine networks, including Base, Polygon, Canton Network, Arc, and Tempo, and has hit a $7B annualized run rate — The payments giant added support for Stripe's Tempo, Circle's Arc, Coinbase's Base, Polygon and Canton Network as stablecoins gain traction in global money movement.

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Study: only ~3% of Polymarket accounts drove most price discovery in 2023-2025, suggesting market accuracy comes from an informed minority, not crowd wisdom (Sam Reynolds/CoinDesk)

Sam Reynolds / CoinDesk:
Study: only ~3% of Polymarket accounts drove most price discovery in 2023-2025, suggesting market accuracy comes from an informed minority, not crowd wisdom — Researchers show market accuracy comes from a tiny group of informed traders, not broad participation. … What to know:

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Filing: Tron founder Justin Sun sues the Trump family's World Liberty Financial, alleging it unfairly locked up his WLFI holdings and threatened and defamed him (CoinDesk)

CoinDesk:
Filing: Tron founder Justin Sun sues the Trump family's World Liberty Financial, alleging it unfairly locked up his WLFI holdings and threatened and defamed him — World Liberty unfairly froze Sun's $WLFI tokens and threatened him, the lawsuit alleged. … What to know:

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Binance and Bitget to probe a rally in RaveDAO's RAVE token, which surged 4,500% in a week, after ZachXBT alleged RAVE insiders engineered a large short squeeze (Francisco Rodrigues/CoinDesk)

Francisco Rodrigues / CoinDesk:
Binance and Bitget to probe a rally in RaveDAO's RAVE token, which surged 4,500% in a week, after ZachXBT alleged RAVE insiders engineered a large short squeeze — Nearly 90% of RAVE's supply was concentrated in just three wallets, and millions of tokens were transferred to exchanges before the price surge.

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Kraken parent company Payward agrees to acquire Bitnomial, a digital asset derivatives platform, for up to $550M in cash and stock, which values Payward at $20B (Will Canny/CoinDesk)

Will Canny / CoinDesk:
Kraken parent company Payward agrees to acquire Bitnomial, a digital asset derivatives platform, for up to $550M in cash and stock, which values Payward at $20B — The deal gives Payward control of a fully licensed U.S. crypto derivatives stack, accelerating its expansion in regulated markets.

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Drift Protocol secures $147.5M in funding, including $127.5M from Tether, to replace Circle stablecoin with USDT after a $270M exploit linked to North Korea (Will Canny/CoinDesk)

Will Canny / CoinDesk:
Drift Protocol secures $147.5M in funding, including $127.5M from Tether, to replace Circle stablecoin with USDT after a $270M exploit linked to North Korea — What to know: … Drift Protocol, the victim of a recent North Korean exploit, plans to relaunch with Tether's USDT as its settlement layer …

What’s the point of the App Store, if it can’t protect users?

Macworld

Apple’s app-vetting procedures are in the spotlight this week, as not one but two news stories demonstrate the grave consequences of what appears to be a troublingly lackadaisical approach at the Cupertino-based company. (Updated April 16 to include Apple’s response.)

Case study 1: “Ledger Live”

On Tuesday, the crypto news site CoinDesk reported on a week-long phishing campaign…

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Use Apple’s App Store at your own risk

Macworld

Apple’s app-vetting procedures are in the spotlight this week, as not one but two news stories demonstrate the grave consequences of what appears to be a troublingly lackadaisical approach at the Cupertino-based company.

Case study 1: “Ledger Live”

On Tuesday, the crypto news site CoinDesk reported on a week-long phishing campaign predicated on the use of a cloned Mac app.…

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Apple Removes Fake Crypto Wallet App That Stole $9.5 Million From Mac Users

A fake Mac app designed to look like the real thing snuck past Apple's app review team, costing users $9.5 million in cryptocurrency.

According to CoinDesk, a fake macOS version of the Ledger Live crypto wallet app scammed people into handing over access to their cryptocurrency wallets. More than 50 people fell victim to the fake app between April 7 and April 13.

Ledger has an official Mac…

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Analysis: Trump's World Liberty Financial used 5B of its WLFI tokens to borrow $75M from a platform its adviser co-founded; WLFI falls to an all-time low (Shaurya Malwa/CoinDesk)

Shaurya Malwa / CoinDesk:
Analysis: Trump's World Liberty Financial used 5B of its WLFI tokens to borrow $75M from a platform its adviser co-founded; WLFI falls to an all-time low — Onchain data shows WLFI deposited 5 billion of its own tokens as collateral to borrow stablecoins it then sent to Coinbase Prime …

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Yuga Labs settles its 2022 lawsuit against artist Ryder Ripps and Jeremy Cahen over their alleged copycatting of its BAYC NFTs; the terms were not disclosed (CoinDesk)

CoinDesk:
Yuga Labs settles its 2022 lawsuit against artist Ryder Ripps and Jeremy Cahen over their alleged copycatting of its BAYC NFTs; the terms were not disclosed — The settlement avoids a trial and ends the dispute over the RR/BAYC NFTs, which claimed to parody Bored Ape Yacht Club, one of the most recognizable NFT brands.

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Yuga Labs settles its 2022 lawsuit against artist Ryder Ripps and Jeremy Cahen over their alleged copycatting of its BAYC NFTs; the terms were not disclosed (CoinDesk)

CoinDesk:
Yuga Labs settles its 2022 lawsuit against artist Ryder Ripps and Jeremy Cahen over their alleged copycatting of its BAYC NFTs; the terms were not disclosed — The settlement avoids a trial and ends the dispute over the RR/BAYC NFTs, which claimed to parody Bored Ape Yacht Club, one of the most recognizable NFT brands.

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Solana-based DeFi platform Drift warns users about an "active attack" on its protocol; Arkham data said over $250M had moved from Drift to an interim wallet (Helene Braun/CoinDesk)

Helene Braun / CoinDesk:
Solana-based DeFi platform Drift warns users about an “active attack” on its protocol; Arkham data said over $250M had moved from Drift to an interim wallet — The platform halted deposits while it investigates suspicious activity and urges users to proceed with caution.

Synthetic Minds | $14 Trillion and $1.6 Million Are Building the Same Bridge

BlackRock's $150 billion digital-asset AUM backs Fink's vision of universal digital wallets holding ETFs and tokenized bonds. The same week, MoonPay, Coinbase, PayPal, and Ripple launched an open wallet standard for AI agents. Two sides of the same bridge, and neither needs advertising to function.

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Singapore-based Startale, developer of the Strium blockchain for tokenized securities and JPYSC and USDSC stablecoins, raised a $63M Series A from SBI and Sony (Francisco Rodrigues/CoinDesk)

Francisco Rodrigues / CoinDesk:
Singapore-based Startale, developer of the Strium blockchain for tokenized securities and JPYSC and USDSC stablecoins, raised a $63M Series A from SBI and Sony — The Singapore-based company builds blockchain tools for financial firms and retail users, including a blockchain for tokenized securities, stablecoins, and a consumer app.

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Circle shares fell as much as 18%, and Coinbase dropped about 8%, after a draft of the US Clarity Act raised the prospect of strict limits on stablecoin yield (CoinDesk)

CoinDesk:
Circle shares fell as much as 18%, and Coinbase dropped about 8%, after a draft of the US Clarity Act raised the prospect of strict limits on stablecoin yield — The latest version of the Clarity Act is pressuring stocks as it would restrict stablecoin rewards. — What to know:

Synthetic Minds | Crypto Finally Got Its Rulebook. Now the Real Game Starts.

On March 17, the SEC and CFTC issued a joint interpretation creating a five-category token taxonomy, classifying Bitcoin, Ether and five other major crypto tokens as non-securities. This ends regulation by enforcement and forces every compliance framework built on ambiguity to be rebuilt on clarity.

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Sources: Kraken has paused its IPO plans, amid the downturn in crypto markets since October, and may revisit a listing when market conditions improve (CoinDesk)

CoinDesk:
Sources: Kraken has paused its IPO plans, amid the downturn in crypto markets since October, and may revisit a listing when market conditions improve   —  Kraken's parent company filed a draft S-1 registration statement with the SEC in November regarding the proposed initial public offering of its common stock.

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An Argentine court ruled Polymarket lacked approval to operate and directed ISPs and app stores to restrict it; Polymarket is now unavailable in 30+ countries (Francisco Rodrigues/CoinDesk)

Francisco Rodrigues / CoinDesk:
An Argentine court ruled Polymarket lacked approval to operate and directed ISPs and app stores to restrict it; Polymarket is now unavailable in 30+ countries   —  The ruling directs internet providers to block access to the site, and Apple and Google to remove or restrict Polymarket's mobile apps.

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Robinhood Ventures Fund I discloses its first investments, buying $14.6M of Stripe shares and $20M of ElevenLabs' preferred stock in March (CoinDesk)

CoinDesk:
Robinhood Ventures Fund I discloses its first investments, buying $14.6M of Stripe shares and $20M of ElevenLabs' preferred stock in March   —  The closed-end fund aims to give everyday investors exposure to private firms before they go public.  —  What to know:

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