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Coinbase to launch yield-bearing Bitcoin fund for institutions

Coinbase, the world’s third-largest cryptocurrency exchange by volume, is launching the Coinbase Bitcoin Yield Fund on May 1, aiming to offer Bitcoin (BTC) exposure for institutional investors outside the US.

The fund targets an annual net return of 4% to 8% on Bitcoin holdings, according to an April 28 blog post by Coinbase.

“To address the growing institutional demand for bitcoin yield, Coinbase Asset Management is excited to introduce the Coinbase Bitcoin Yield Fund (CBYF),” the company wrote.

The fund is backed by multiple investors, including Aspen Digital, a digital asset manager based in Abu Dhabi and regulated by the Financial Services Regulatory Authority.

Coinbase introduces a Bitcoin yield-bearing fund. Source: Coinbase

The yield will be generated through a cash-and-carry strategy, through the difference between spot Bitcoin prices

Playing Web3 games with one wallet still the ‘vision’ — The Sandbox

Wallet interoperability still remains the vision for Web3 gaming, according to Arthur Madrid, the co-founder and CEO of the decentralized metaverse and gaming platform The Sandbox.

In an exclusive interview with Cointelegraph at the Crypto Polo event in Dubai, Madrid and The Sandbox co-founder and chief operating officer Sebastien Borget told Cointelegraph that Web3 gaming interoperability remains the goal for The Sandbox. Madrid said:

“So, the vision is still kind of obvious for us. It’s like you need to be able to play any games using one wallet that will enable you to combine the utilities of all that you collected and all what you earned.”

The Sandbox CEO said that one of the main narratives they’ve seen in the last couple of months is that players can move from one game to another using a single wallet. The executive told Cointelegraph that players accessing games with one wallet and using their items

Stacks Asia expands Bitcoin initiatives with Abu Dhabi partnership

The Stacks Asia DLT Foundation has become the first Bitcoin-based organization to establish an official presence in the Middle East, aiming to promote institutional Bitcoin adoption through expanded educational initiatives.

Stacks Asia has partnered with the Abu Dhabi Global Market (ADGM) — one of the world’s fastest-growing financial centers — in a move that could boost the adoption of its Bitcoin (BTC) layer-2 (L2) solution in the Middle East and Asia.

The new partnership will play a “pivotal role” in shaping the future of Bitcoin’s “programmability and adoption” in these regions through educational programs and support for Bitcoin builders, according to an April 28 announcement shared with Cointelegraph.

Through the collaboration, Stacks and the ADGM aim to make it easier for institutions and investors to participate in the growing Bitcoin economy and help set “new standards for regulatory clarity and technical growth” for

Crypto ETPs hit 3rd-largest inflows on record at $3.4B — CoinShares

Cryptocurrency exchange-traded products (ETPs) bounced back with their third-largest inflows on record last week, according to CoinShares.

Global crypto ETPs collectively posted $3.4 billion of inflows in the trading week of April 21–25, marking the highest level since December 2024, CoinShares reported on April 28.

The inflows were just 13% below the all-time high of $3.85 billion seen in the trading week of Dec. 2–6, 2024, CoinShares previously reported.

Renewed investment interest in crypto ETPs came as Bitcoin (BTC) broke back above $90,000 last week for the first time since briefly retesting the price mark in early March, according to CoinGecko.

Bitcoin ETFs lead as price consolidates above $90,000

Bitcoin was the primary winner among crypto ETPs last week, with investors pouring as much as $3.18 billion into BTC ETPs.

The

Crypto projects prepare to battle for privacy in Switzerland

Switzerland has long been seen as a beacon of privacy where companies, organizations and wealthy people put down roots in an effort to avoid the prying eyes of the rest of the world. Joining this cohort are many Web3 projects, which also appreciate the Swiss government’s generally positive stance toward blockchain and digital assets.

The country’s reputation as a privacy haven has resulted in Switzerland becoming a hub for privacy projects establishing their foundations or development entities there, including Nym, Session and Hopr — joining traditional privacy software companies such as Proton and Threema.

Now, a proposed change to a Swiss surveillance ordinance is worrying these same projects, as it would spell a marked increase in the government’s user monitoring requirements. But the decentralized nature of crypto may offer a solution for those wishing to preserve their privacy in a climate of increasing surveillance.

Switzerland is a privacy haven — or maybe not

Switzerland

ZachXBT flags suspicious $330M Bitcoin transfer triggering Monero surge

Onchain sleuth ZachXBT has flagged a suspicious transfer involving 3,520 Bitcoin (BTC) (valued at $330.7 million) that may indicate a major theft. The transaction, reported on April 28, saw funds moved from a potential victim’s wallet to the address bc1qcry…vz55g.

Following the transfer, the stolen stash was quickly laundered through over six instant exchanges and swapped into privacy-focused cryptocurrency Monero (XMR).

The large-scale conversion led to a sharp 50% spike in XMR’s price, with the token reaching an intraday high of $339, according to data from CoinMarketCap.

Source: ZachXBT

At the time of writing, XMR has settled slightly but remains up 25% in the past 24 hours, trading at $289.

When asked whether North Korea’s Lazarus Group was behind the attack, ZachXBT dismissed the theory, stating it was “highly probable it’s not,” suggesting independent hackers were responsible.

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Caitlin Long slams US Fed over stablecoin policy favoring big banks

Caitlin Long, founder and CEO of Custodia Bank, has criticized the US Federal Reserve for quietly maintaining a key anti-crypto policy that favors big-bank-issued stablecoins, despite relaxing crypto partnership rules for banks.

In an April 27 thread on X, Long explained that while the Fed recently rescinded four prior crypto guidelines, it left intact a Jan. 27, 2023, statement issued in coordination with the Biden administration.

The guidance, according to Long, blocks banks from engaging directly with crypto assets and prohibits them from issuing stablecoins on permissionless blockchains.

“THE FED HAS MAINTAINED A REGULATORY PREFERENCE FOR PERMISSIONED STABLECOINS (ie, big-bank versions),” Long stated.

She warned that this move gives traditional financial institutions a “head start” in launching private stablecoins while the broader market waits for stablecoin legislation to pass through Congress.

Caitlin Long criticizing the Fed’s preference for permissioned stablecoins. Source: <a data-ct-non-breakable="null" href="https://x.com/CaitlinLong_/status/1916570720798224718" rel="nofollow

Beyond tariffs and chaos — blockchain emerges as the backbone of a parallel economy

Opinion by: Ross Shemeliak, co-founder and chief operating officer of Stobox

The Trump administration is pushing a much-revived policy trajectory, marked by tariffs and sanctions that aim to reshore production. Despite exemptions favorable to technology, this dramatic turnaround may seem like a case of the White House treating global trade as its playground. The president’s tariff agenda is fracturing supply chains overnight and disregarding long-standing economic rules.

This latent, chaotic agenda also sees the quiet emergence of a new infrastructure in which blockchain is taking on a fresh role. Insofar as it is not purely focused on decentralization, the technology is geopolitically resilient. With global businesses, especially small and medium enterprises, increasingly pushed toward blockchain, we are witnessing a global economic map redrawing into one centered on Real-World Assets tokenization and stablecoins.

Secondary markets for tokenized trade assets

There are few winners in a

Nexo back in the United States as Trump Jr. attends exclusive event

Cryptocurrency services platform Nexo announced that it is reentering the US market after facing previous regulatory challenges.

According to an April 28 announcement, Nexo’s reentry event featured Donald Trump Jr., who said that he thinks “crypto is the future of finance,” adding:

“We see the opportunity for the financial sector and want to ensure we bring that back to the US.”

Trump Jr. also emphasized the need for a regulatory environment that supports the cryptocurrency industry. He said that “the key to everything crypto is going to be the regulatory framework.”

Source: Nexo

Nexo is back to fight where it lost

Nexo left the US at the end of 2022, citing a lack of regulatory clarity as the reason behind the decision. At the beginning of 2023, the firm

Melania memecoin team sells $1.5M tokens as price pumps 21%

The team behind the Official Melania Meme (MELANIA) token sold more than $1.5 million of tokens over the past three days, suggesting a programmatic selling strategy that may add downside pressure to the token.

The team behind the Melania memecoin sold another $930,000 worth of tokens on April 28, two days after selling $630,000, according to blockchain data.

The selling patterns point to dollar-cost averaging (DCA), an investment strategy used to buy or sell a predetermined amount of an asset at fixed times, according to crypto intelligence platform Lookonchain. It flagged the activity in an April 28 post on X, writing:

“The #Melania team didn’t just add or remove liquidity to sell $MELANIA, they also employed a DCA strategy for direct sales!”Source: Lookonchain