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Pakistan appoints Changpeng Zhao as crypto adviser as adoption heats up

Former Binance CEO Changpeng “CZ” Zhao has been appointed as an adviser to Pakistan’s Crypto Council, a newly formed regulatory body tasked with overseeing the country’s embrace of blockchain technology and digital assets.

The appointment was confirmed by Pakistan’s finance ministry and reported by Bloomberg on April 7. Zhao will advise the regulatory body on cryptocurrency regulation, infrastructure and adoption, Bloomberg reported.

CZ is seen signing documents during his appointment by Pakistan’s Ministry of Finance. Source: Business Recorder

Zhao is one of the most recognizable names in crypto, having served as CEO of Binance between 2017 and 2023. He resigned as CEO of the exchange in November 2023 after pleading guilty to charges related to violating US money laundering laws. He was later sentenced to four months in prison.

For Pakistan, Zhao is a high-profile appointment that could potentially help the country lure foreign

Metaplanet repays 2B yen bonds early, CEO comments on BTC ‘down days’

Metaplanet, a Japanese hotel manager turned Bitcoin treasury company, has fully repaid 2 billion yen ($13.5 million) worth of bonds ahead of schedule as it seeks to shore up its financial position.

Metaplanet conducted an early redemption of its 9th Series of Ordinary Bonds on April 4, more than five months before the maturity date, the company disclosed on April 7.

The zero-interest bonds were issued in March through Metaplanet’s Evo Fund and used to acquire additional Bitcoin (BTC). Since the bonds carry zero interest, the repayment would not have a material impact on the company’s fiscal 2025 results, it said.

Source: Metaplanet

Metaplanet, which trades publicly on the Tokyo stock exchange, has made Bitcoin the center of its corporate strategy through a series of acquisitions. The company’s Bitcoin

Hodlers on edge: Trump’s tariffs shake Bitcoin, but some are buying the dip

Bitcoin holders are facing renewed pressure following US President Donald Trump’s trade tariff announcement, which sent shockwaves through global financial markets, including cryptocurrencies.

However, with Bitcoin (BTC) hodlers now under pressure, some community members, including BitMEX co-founder Arthur Hayes, are not missing a chance to buy BTC at a discount.

“Been nibbling on BTC all day, and shall continue,” Hayes wrote on X on April 7 as the Bitcoin price hovered around $75,000.

Source: Arthur Hayes

He also predicted that Bitcoin’s dominance in the broader crypto market could grow. He expects the current 60.5% share of the market to go toward 70%.

Traders are “powerless to second-guess Trump’s next move”

While Hayes is stacking sats during the tariff-fueled market bloodbath, his investment firm, Maelstrom, reportedly sold BTC in December 2024, when Bitcoin traded near its all-time high of about $100,000.

In a blog post titled “Trump Truth,”

Was Bitcoin price drop to $75K the bottom? — Data suggests BTC to stocks decoupling will continue

Bitcoin (BTC) fell below $75,000 on April 6, pressured by traditional markets as S&P 500 futures hit their lowest levels since January 2024. The initial panic also caused WTI oil futures to drop below $60 for the first time in four years. However, markets later recovered some losses, allowing Bitcoin to reclaim the $78,000 level.

Bitcoin’s high correlation with traditional markets tends to be short-lived

While some analysts argue that Bitcoin has entered a bear market following a 30% price correction from its cycle peak, historical data offers numerous examples of even stronger recoveries. Notably, Bitcoin’s high correlation with traditional markets tends to be short-lived. Several indicators suggest traders are simply waiting for better entry opportunities.

40-day correlation: S&P 500 futures vs. Bitcoin/USD. Source: TradingView / Cointelegraph

Bitcoin’s recent performance has been closely tied to the S&P 500, but this correlation fluctuates significantly over time. For example, the correlation

A decade-old debate is back as self-custody gets smarter

Opinion by: Alvin Kan, chief operating officer of Bitget Wallet

Here we go again: A top centralized crypto exchange (CEX) was hacked, this time likely for the largest sum in humanity’s history. We were lucky to avoid the worst — platform collapse and devastating consequences for the industry. The incident reminded us again that even the strongest market players are not invincible.

CEXs’ freedom to manage customer funds comes with risks, reminding users that good old non-custodial storage is still the safest. With recent advances in security features, wallets safeguard coins and help users safely make the most of their crypto.

Golden rules never rust

After the $1.5 billion Bybit hack, things settled down quite quickly. If the platform didn’t keep reserves of 1:1 for client funds, however, the hack could have dire consequences for the entire industry. When FTX’s liquidity problems surfaced in 2022, a bank run killed

Bitcoin price retakes $80K as US stocks avoid 'Black Monday' meltdown

Bitcoin (BTC) sought a relief rally into the April 7 Wall Street open as US stocks rebounded from a 4%+ loss.

BTC/USD 1-hour chart. Source: Cointelegraph/TradingView

Bitcoin joins US stocks in relief rally

Data from Cointelegraph Markets Pro and TradingView showed the area around $80,000 forming a focus for BTC/USD after the pair hit five-month lows.

The fallout from US trade tariffs continued to ricochet across global markets, with Asia stocks closing the day with considerable losses.

At the same time, reports of a potential 90-day pause in the tariffs going live, against a background of negotiations with over 50 US trading partners, helped pare losses in futures markets ahead of the open and allowed the S&P 500 and Nasdaq Composite Index to avert a ”Black Monday” 1987-style implosion.

“Nasdaq

Over 90% of WazirX creditors support post-hack restructuring plan

Over 90% of the voting creditors of the Indian crypto exchange WazirX voted in favor of the platform’s post-hack restructuring plan.

According to an April 7 announcement, 93.1% of voting creditors who hold 94.6% of the value voted in favor of the plan. All creditors who held crypto balances on the platform were eligible to vote on the Kroll Issuer Services platform from March 19 until March 28.

WazirX co-founder and CEO Nischal Shetty told Cointelegraph that with the plan approved, stolen asset recovery is “a primary focus.” Still, he pointed to profit sharing as a further measure that the firm hopes to use to compensate its users.

The news follows early February reports that WazirX has warned that repayments from the $235 million hack against it could be delayed until 2030 if creditors do not approve its proposed restructuring plan. At

Michael Saylor’s Strategy halts Bitcoin buys despite dip below $87K

Michael Saylor’s firm Strategy, the world’s largest publicly listed corporate holder of Bitcoin, did not add to its BTC holdings last week as the cryptocurrency’s price dropped below $87,000.

In a filing with the US Securities and Exchange Commission on April 7, Strategy announced it made no Bitcoin (BTC) purchases during the week of March 31 to April 6.

The decision followed a week of heightened market volatility, with BTC surging to as high as $87,000 on April 2 after starting the week at around $82,000, according to data from CoinGecko.

Bitcoin price from March 31, 2025, to April 6, 2025. Source: CoinGecko

BTC fell below $80,000 on April 6, a significant discount from the average BTC price of Strategy’s previous 22,000 BTC purchase announced on March 31.

Strategy reports unrealized loss of $5.91 billion

ZKasino scammer loses $27M as Ethereum price drops

A wallet linked to the $40 million ZKasino scam lost more than $27 million after a leveraged position was liquidated, marking what some in the crypto community are calling a dose of karmic justice.

ZKasino launched in April 2024, luring investor capital by promising an airdrop of its native token to users who bridged Ether (ETH) to the platform.

However, instead of returning the funds, ZKasino transferred around $33 million in user ETH to the staking protocol Lido Finance.

Nearly a year later, the wallet behind the alleged exploit has been liquidated for $27.1 million after ETH’s price declined sharply, according to blockchain analytics platform Onchain Lens.

Source: Onchain Lens

“A scammer gets a dose of karma,” Onchain Lens wrote in an April 7 X post, adding:

“The ZkCasino scammer, who scammed $40M+, closed its $ETH

US federal agencies to report crypto holdings to Treasury by April 7

US federal agencies are expected to disclose their cryptocurrency holdings to the Department of the Treasury by April 7, following an executive order signed by President Donald Trump earlier this year.

Citing an unidentified White House official, journalist Eleanor Terrett reported that the deadline for federal agencies to report their crypto holdings to Treasury Secretary Scott Bessent is April 7.

The disclosures will remain confidential for now. “Unclear as of now if and when the findings could be made public,” Terrett wrote.

Source: Eleanor Terret

Crypto disclosure follows Bitcoin Reserve establishment

The reporting requirement followed an executive order signed on March 7 that directed the creation of a Strategic Bitcoin Reserve and a broader Digital Asset Stockpile. The Bitcoin (BTC) reserve will be seeded with BTC forfeited to federal agencies through civil or criminal asset seizures.

White House AI and