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Riot Platforms secures $100M ‘Bitcoin-backed’ loan from Coinbase

Riot Platforms has used its massive Bitcoin stockpile as collateral to secure a $100 million credit facility from Coinbase as the cryptocurrency miner eyes continued expansion.

The $100 million loan from Coinbase’s credit arm marks Riot’s “first Bitcoin-backed facility,” CEO Jason Les said in an April 23 statement.

Les said the credit line will be used to fund general corporate operations and support the company’s “strategic growth initiatives.”

Source: Riot Platforms

The credit line is scheduled to mature in one year’s time, but could be extended for an additional year. The loan carries an annual interest payment of at least 9%, based on the current upper limit of the federal funds rate plus 4.5%.

Crucially, the funding amount “will be secured by a portion of [Riot Platforms’] total Bitcoin holdings,” the company said.

Riot owns the third-largest corporate Bitcoin (BTC)

Institutions break up with Ethereum but keep ETH on the hook

Ethereum is entering one of its most precarious periods since its inception. Usage on the base layer is plummeting, core metrics are nearing multi-year lows, and even co-founder Vitalik Buterin is proposing a radical architectural overhaul.

Institutions aren’t waiting to see how it plays out. Blockchain data shows that long-time supporters such as Galaxy Digital and Paradigm have been slashing their Ether (ETH) holdings in recent weeks.

So far in April, Ethereum’s base-layer activity has continued to collapse. Ethereum’s network fees are dropping, and inflation has been rising. Though layer-2 networks continue to develop, they’re cannibalizing the base layer’s value capture.

But the story isn’t entirely about Ethereum’s collapse. Some whales are treating this downturn as a rare buying opportunity. Even those who are selling Ether can’t fully

What are XRP futures and how to invest in them?

If you’re following developments in the cryptocurrency market, you’ve likely noticed that Coinbase Derivatives has introduced XRP futures contracts to its US derivatives exchange. This move is part of a broader trend where regulated platforms are expanding access to futures trading, giving investors new ways to engage with digital assets like XRP (XRP).

But what exactly are XRP futures? And how do you get involved as an investor or trader?

Let’s take a closer look.

What are XRP futures?

XRP futures are standardized financial contracts that allow you to agree to buy or sell XRP at a predetermined price on a specific future date. Rather than trading the actual token, you’re trading a contract that tracks the price of XRP.

These contracts are overseen by the US Commodity Futures Trading Commission (CFTC), meaning they operate within a regulated framework. That

Blockchain prediction markets offer new hope for scientific validation

Opinion by: Sasha Shilina, PhD, founder of Episteme and researcher at Paradigm Research Institute

Decentralized prediction markets are gaining ground in the scientific world, offering an intriguing answer to the field’s ongoing reproducibility crisis. While a notable share of research findings fail to replicate in independent tests, supporters believe market-driven forecasting can speed up identifying robust studies.

Detractors remain cautious, worried that introducing financial wagers could compromise the measured, peer-reviewed process that has guided academic inquiry for centuries. The debate hinges on whether blockchain-based forecasting will elevate or destabilize scientific credibility.

Crowdsourcing predictions

Despite these concerns, recent developments point toward real promise. Platforms like Polymarket and Pump.science have shown that crowdsourcing predictions can help refine collective judgment in fields as varied as politics and longevity. This model is being adapted for science, where it could quickly flag dubious claims and reward reproducible ones.

Although critics highlight potential market manipulation,

PayPal to offer 3.7% yield on stablecoin balances: Report

Payments behemoth PayPal plans to offer a 3.7% yield on balances held in its PayPal USD stablecoin.

According to an April 23 Bloomberg report, a PayPal representative said that the measure aims to encourage more usage of the firm’s stablecoin. The new program is purportedly expected to launch this summer, and the rewards will also be paid out in PayPal USD (PYUSD).

Users will be able to exchange PYUSD for fiat currency, spend it, or send it to other users. The rewards will accrue daily and will be paid on a monthly basis. Jose Fernandez da Ponte explained that the company hopes this feature will lead to a higher predominance of stablecoin and crypto payments on its platform.

The report follows PayPal USD reaching a $1 billion market cap in the summer of 2024. As of publication,

Ubisoft taps Immutable to launch Web3 card game ‘Might & Magic: Fates’

Gaming giant Ubisoft has partnered with Web3 firm Immutable to launch Might & Magic: Fates, a blockchain-powered strategy card game set in the Might & Magic universe.

According to a news release shared with Cointelegraph, Might & Magic: Fates blends classic strategic gameplay with modern blockchain technology, offering players digital ownership through Immutable’s Web3 infrastructure.

The game will launch on iOS and Android. The title introduces fresh mechanics, faction-based strategies and a wide array of legendary heroes and creatures.

Players can collect, trade, and customize decks using hundreds of cards, crafting unique strategies in a competitive environment where success is driven by skill and tactical decision-making.

Immutable co-founder Robbie Ferguson teases major announcement. Source: Robbie Ferguson

“The game is free-to-play with no hard progression barriers. Players advance by collecting cards and in-game currency through gameplay,” Justin Hulog, chief studio officer for Immutable, told Cointelegraph.

“Additionally, those

Symbiotic raises $29M for staking-based universal coordination layer

Cryptocurrency staking protocol Symbiotic closed a $29 million Series A funding round led by Web3-focused investment firms, including Pantera Capital and Coinbase Ventures, to support the launch of a new economic coordination layer for blockchain security.

The round included more than 100 angel investors, with participation from major industry players including Aave, Polygon and StarkWare, the company said in an April 23 announcement shared with Cointelegraph.

The closing of the funding round also marks the launch of Symbiotic’s Universal Staking Framework, which aims to be an economic coordination layer that bolsters blockchain security via staking.

The new staking layer enables the use of any combination of cryptocurrencies to secure networks, including monolithic and modular layer-1 and layer-2 blockchains, the announcement stated.

“We’ve created a modular framework that lets protocols evolve security models over time while efficiently coordinating risk,” Misha Putiatin, co-founder of Symbiotic, told

New SEC chair ‘will be good for Bitcoin’ — Michael Saylor

Michael Saylor, the CEO of top corporate Bitcoin holder Strategy (formerly MicroStrategy), expressed support for newly appointed US Securities and Exchange Commission (SEC) Chair Paul Atkins.

In an April 23 X post, Saylor wrote that “SEC Chairman Paul Atkins will be good for Bitcoin.” The statement follows Atkins’ swearing-in as the 34th chairman of the SEC on April 21.

Source: Michael Saylor

Blue Macellari, the head of digital assets at investment firm T. Rowe Price, also commented positively on Atkins’ swearing in during a recent Bloomberg interview. She seemed hopeful and recognized a change in how the SEC has acted under the new administration, particularly with crypto-related information, including “close to six or seven roundtables” with industry professionals. She said:

“I think that that’s gonna feed into the ability to

Coinbase to hire 130+ staff as it expands into Charlotte’s fintech hub

Crypto exchange giant Coinbase is set to expand its footprint by hiring over 130 employees in Charlotte, North Carolina, as part of a broader push to tap into emerging fintech talent pools across the US, a company spokesperson confirmed to Cointelegraph.

“Coinbase is making a new investment in Charlotte with a new physical office and an immediate commitment to hire for 130+ local rolls across both Compliance and Customer Support over the next six months,” the spokesperson said.

They added that Coinbase’s focus on Charlotte is in response to the city’s emergence as a key financial and tech center, making it a prime choice for expansion to address increasing customer and compliance demands.

With a fast-growing population and a highly skilled talent pool, Charlotte offers an ideal setting to support Coinbase’s long-term growth, the spokesperson said.

Coinbase remains a remote-first

$635M liquidated in 24H as trader predicts $100K Bitcoin short squeeze

Crypto markets have faced a wave of liquidations over the past 24 hours, with total losses reaching $635.9 million, according to market data. Most of the liquidations (over $560 million) came from short positions, signaling growing pressure on bearish traders.

Bitcoin (BTC) led the liquidation charts, with $293 million in short positions wiped out as BTC surged past $94,000, marking a 6.29% gain within one day, according to CoinGlass data.

Ether (ETH) followed, with over $109 million in short liquidations as its price climbed nearly 10% to $1,787.

Data from exchanges showed Binance accounted for the largest share of liquidations at $18.7 million in the last four hours, with 78% of that targeting short positions. Bybit and OKX also saw significant liquidation volumes, reflecting widespread volatility across major platforms.

Crypto market sees a wave