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Asian firms ramp up Bitcoin buys: Metaplanet, HK Asia lead charge

Asian investment firms are stepping up their Bitcoin accumulation strategies, with Japan’s Metaplanet and Hong Kong’s HK Asia Holdings leading the way.

Tokyo-based Metaplanet disclosed on April 24 that it acquired an additional 145 Bitcoin (BTC) for 1.9 billion Japanese yen (around $13.4 million), boosting its total holdings to 5,000 BTC.

Metaplanet CEO Simon Gerovich confirmed the company has reached 50% of its initial goal of amassing 10,000 BTC by the end of 2025.

Metaplanet CEO Simon Gerovich announcing Bitcoin purchase. Source: Simon Gerovich

The firm has been aggressive in its Bitcoin treasury operations, using bond issuances and Bitcoin income strategies, such as selling cash-secured BTC put options, to finance its acquisitions.

Since initiating its Bitcoin strategy, Metaplanet’s stock has surged over 3,000%. The company aims to hold 21,000 BTC

Trump fought the bond market, and the bond market won: Saifedean Ammous

Analysts are criticizing the financial implications of US President Donald Trump’s import tariffs, a development that some say highlights Bitcoin’s unique economic properties during times of global uncertainty.

Trump’s 90-day pause on higher reciprocal tariffs, reverting them to a 10% baseline for most countries except China, has exposed vulnerabilities in the US bond market, according to critics.

Economist and author of The Bitcoin Standard, Saifedean Ammous, said Trump’s decision to reverse the higher tariffs was likely a reaction to rising bond yields, suggesting the administration’s hand was forced.

“Trump fought the bond market and the bond market won,” Ammous said in an April 23 X post. “The gambit seemed to work for the first day, and the huge crash in the stock market was presented as a small price to pay for fiscal sustainability.”

“But then the bonds began to crash, and it became

Upbit and Bithumb suspend Synthetix token deposits, citing sUSD risks

South Korean exchanges Upbit and Bithumb have suspended deposits for Synthetix (SNX) tokens after it was flagged by the Digital Asset Exchange Alliance (DAXA) for potential risks.

DAXA, the self-regulatory organization establishing industry standards for South Korean exchanges, designated SNX as a cautionary item.

Assets receiving this designation typically undergo rigorous evaluations to determine whether trading can continue or if delisting is necessary.

Exchanges may take action, such as adding a warning tag to the asset and urging investors to take caution when engaging with it. Trading platforms can also perform additional measures, like blocking deposits or suspending trading support temporarily.

Upbit and Bithumb block SNX deposits

In response to the designation, the biggest exchanges in South Korea said they are blocking deposits for SNX tokens on their platforms.

Upbit announced that it had added a trading caution ticker and suspended token deposits. The exchange said

Bitcoin exchange outflows mimic 2023 as whales buy retail 'panic'

Key points:

Bitcoin exchange 100-day average netflows are at their most negative since the start of the current bull market in 2023.

Exchange balances continue to plumb new multiyear lows.

Whales are particularly active buyers this month, while retail shows classic “panic selling.”

Bitcoin (BTC) exchanges are evoking the end of the 2022 crypto bear market as user inflows dry up this year.

Data from onchain analytics platform CryptoQuant reveals exchanges’ average net flows hitting two-year records.

Bitcoin analysis eyes “reaccumulation of assets”

Bitcoin may be trading significantly higher than at the start of 2023, but demand for BTC among exchange users is reminiscent of the start of a bull market.

CryptoQuant reveals that the 100-day simple moving average (SMA) of exchange net flows recently hit its most negative figure in two years.

“This essentially indicates the highest Bitcoin outflow from exchanges since that date,” contributor CryptoOnChain commented in

Shaquille O’Neal reaches settlement in FTX lawsuit, terms remain secret

Shaquille O’Neal has settled with investors who claim losses from the collapse of cryptocurrency exchange FTX, according to an April 23 filing in the US District Court for the Southern District of Florida.

The settlement amount remains confidential, with terms expected to be disclosed after investors formally request preliminary court approval, according to court documents.

O’Neal and other celebrities and athletes were accused of promoting FTX and allegedly contributing to investor losses by endorsing the now-bankrupt exchange.

Source: Court Listener

The case is part of a broader multidistrict litigation effort, where investors are seeking up to $21 billion in damages from FTX insiders, advisers and promoters, far exceeding the $9.2 billion available through bankruptcy proceedings.

Other celebrities embroiled in similar legal troubles for their roles in FTX include NFL quarterback Tom Brady, supermodel Gisele Bündchen, billionaire investor Kevin O’Leary, former NBA player Udonis Haslem, David

DeFi platform KiloEx to compensate users impacted by $7.5M hack

Decentralized exchange (DEX) KiloEx said it will compensate traders and stakers hurt by a $7.5 million exploit that temporarily shut down the platform earlier in April.

In an April 24 announcement, KiloEx said traders who had positions open while the platform was suspended would get full compensation if their losses increased or profits decreased. The platform said it would pay the difference.

KiloEx urged traders to close their positions immediately once the platform resumes operations, as delaying could affect their profit and losses, which may then impact the compensation amount.

“Please close your position as soon as possible after the platform resumes. Compensation will be calculated based on the platform’s resume time,” KiloEx stated.

Source: KiloExStakers’ principal and earnings remain unaffected

For the platform’s Hybrid Vault stakers, KiloEx said that the stolen funds were fully reinjected into the vault. As a result, staker

Revolut doubles profits to $1.3B on user growth, crypto trading boom

Fintech giant Revolut reported a record-breaking year, doubling its pre-tax profit to 1 billion British pounds ($1.3 billion) in 2024, driven by rapid customer growth and a resurgence in cryptocurrency trading.

According to its annual report published on Thursday, April 24, Revolut’s profit soared from 438 million pounds in 2023, while revenue jumped to 3.1 billion pounds from 1.8 billion pounds.

A key contributor to Revolut’s strong performance was its wealth division, which includes stock and digital asset trading. The segment generated 506 million pounds in revenue — nearly four times higher than in 2023 — as crypto trading activity rebounded.

Revolut’s increasing profit. Source: Revolut

Revolut added nearly 15 million new users in 2024, pushing its total customer base past 50 million. This expansion boosted revenue from card payment fees and interest on deposits, the fintech’s two largest income streams.

Founder and CEO Nik

What is quantitative easing, and how does it work?

Quantitative easing (QE), explained

Quantitative easing (QE) is a non-traditional monetary policy tool used by central banks, particularly when interest rates are already low and cannot be reduced further.

It was popularized during the 2008 global financial crisis when traditional monetary tools, like lowering interest rates, were insufficient to stimulate economic growth.

The main goal of QE is to boost the economy by increasing the money supply. This is achieved by encouraging banks to lend more and making borrowing cheaper for consumers and businesses. When central banks implement QE, they purchase government bonds or other securities from the market, injecting cash into the financial system.

Even though people sometimes say QE is like “printing money,” it’s not the same as making new physical cash. Instead, it increases the amount of digital money — meaning the balances held in bank accounts — in the economy. This

Read More at https://cointelegraph.com/explained/what-is-quantitative-easing-and-how-does-it-work?utm_source=rss_feed&utm_medium=rss&utm_campaign=rss_partner_inbound

Prosecutors seek over 6 years prison for Mango Markets exploiter

US federal prosecutors have asked a district judge to sentence Avraham “Avi” Eisenberg, the crypto user convicted of the $110 million exploit of the decentralized exchange Mango Markets in 2022, to at least six and a half years behind bars.

Ahead of Eisenberg’s May 1 sentencing hearing, US prosecutors are petitioning US District Judge Arun Subramanian for Eisenberg to face between 78 and 97 months in prison, according to an April 22 filing in a New York district court.

Prosecutors argue it’s an appropriate sentence for Eisenberg’s April 2024 conviction for committing wire fraud, commodities fraud and commodities manipulation in connection with the Mango Markets exploit and separate charges that he possessed child pornography.

“This sentence is necessary to, among other things, appropriately reflect the gravity of the defendant’s crimes, promote respect for the law, deter the

US prosecutors file over 200 victim statements in Celsius ex-CEO’s case

US federal prosecutors have filed statements from hundreds of victims in their case against Alex Mashinsky, the founder and former CEO of the defunct crypto lender Celsius Network.

The recently sworn-in interim US Attorney for Manhattan, Jay Clayton, said in an April 23 letter to a Manhattan federal court that he was sharing “more than 200 victim impact statements” collected by his office.

The statements span 418 pages of Celsius users, some named and some only using their initials, detailing the impact that the collapse of the firm had on their lives and how much money they had lost as a result.

Some of the statements detailed victims who said they entrusted their life savings to Celsius, believing Mashinsky’s assurances that the platform was safe.

Others wrote they were dismayed at the amount returned to them as a result of the company’s bankruptcy proceedings, which many said was