What are gold-backed stablecoins, and how do they work?
Gold-backed stablecoins are digital currencies pegged to physical gold reserves and designed to maintain a stable value. The concept of gold-backed digital currencies dates back to the early days of cryptocurrency, with developers aiming to create a reliable store of value.
Each gold-backed stablecoin represents a specific quantity of gold. For instance, one token might be linked to 1 troy ounce of gold. A troy ounce is a unit of weight used explicitly for weighing precious metals like gold, silver and platinum; it is equal to 31.1034768 grams.
A third party typically holds the gold reserves to ensure security and transparency. The issuing entity is responsible for maintaining an equivalent amount of physical gold for every token in circulation.
The token’s price remains closely aligned with the market value of gold. Buyers pay gold’s spot price
Circle, BitGo about to apply for bank charter, others may follow: WSJ
Major cryptocurrency firms, including stablecoin issuer Circle and crypto custodian BitGo, are reportedly considering applying for bank charters or licenses.
According to an April 21 Wall Street Journal report citing people familiar with the matter, Circle, BitGo and other firms are considering applying for some form of banking license. Other firms cited include the publicly traded US-based crypto exchange Coinbase and the stablecoin issuer Paxos.
Back in 2021, the US Office of the Comptroller of the Currency already granted a preliminary conditional approval for a US bank charter to Paxos. The report comes as the US continues to reshape local stablecoin regulations.
US Federal Reserve Chair Jerome Powell recently said that as digital assets gain mainstream adoption, establishing a legal framework for stablecoins is a “good idea.” Speaking at a recent event in Chicago, Powell recognized that
Michael Saylor’s Strategy bagged 6,556 Bitcoin for $555.8M last week
Michael Saylor’s Strategy, one of the world’s largest publicly listed corporate Bitcoin holders, added another major purchase to its growing portfolio as the cryptocurrency trades near $85,000.
Strategy acquired 6,556 Bitcoin for $555.8 million from April 14–20, at an average price of $84,785 per coin, the firm announced in its latest Form 8-K filing with the United States Securities and Exchange Commission.
The latest purchase accounts for 1.2% of Strategy’s total Bitcoin holdings of 538,200 BTC as of April 20, acquired for the aggregate amount of $36.5 billion at an average price of $67,766 per BTC.
An excerpt from Strategy’s Form 8-K filing. Source: Strategy
The latest Bitcoin purchase was funded using proceeds from the Common ATM and STRK ATM stock offerings, including the sale of 1,755,000 Strategy shares for $547.7 million and 91,213 shares of Series A preferred stock sold for $7.8 million.
Strategy expands buying after a pause
The
Pavel Durov says Telegram would exit markets before betraying users
Telegram CEO Pavel Durov has expressed concerns over the growing threat to private messaging in France and other European Union countries, warning that Telegram would rather exit certain markets than implement encryption backdoors that undermine user privacy.
In an April 21 post to his “Du Rove’s channel” on Telegram, he posted an alarming message about the EU’s increasing efforts to weaken messaging encryption by adding backdoors, a method that would allow authorities to bypass encryption and access private user data.
Durov cited initiatives from French and EU lawmakers to require messaging apps like Telegram to implement backdoors for police access and stressed Telegram’s commitment to digital privacy.
“Telegram would rather exit a market than undermine encryption with backdoors and violate basic human rights,” Durov stated, adding: “Unlike some of our competitors, we don’t trade privacy for market share.”
Backdoors can be exploited by criminals
In his message, Durov highlighted that the biggest
Crypto casino revenue hit $81B in 2024 despite global restrictions
Crypto casinos generated more than $81 billion in revenue in 2024, even as regulators in key jurisdictions continued to block access to the platforms, according to a new report.
Citing data from the anti-online-crime platform Yield Sec, the Financial Times reported that wagers paid in crypto in 2024 generated $81.4 billion in gross gaming revenue (GGR). This metric refers to the difference between bets taken and winnings paid out.
Yield Sec data also showed that the annual revenue for crypto casinos has increased five times since 2022, despite gambling sites being blocked in the United States, China, the United Kingdom and the European Union.
Crypto casino Stake rivals traditional betting platforms
Betting platform Stake reported that its GGR in 2024 was around $4.7 billion, up 80% since 2022. This puts it on a par with some of the biggest gambling groups, such as Entain and Flutter. Entain reported $5
Bitcoin rally above $100K may follow US Treasury buybacks — Arthur Hayes
Investors seeking Bitcoin exposure may be running out of time to purchase below a six-figure price, as US Treasury buybacks may signal the next leg up for the world’s first cryptocurrency.
This might be the “last chance” to buy Bitcoin (BTC) below the $100,000 mark, according to Arthur Hayes, co-founder of BitMEX and chief investment officer of Maelstrom.
“Seriously fam, this might be the last chance you have to buy $BTC < $100k,” Hayes said in an April 21 X post, hinting at incoming “treasury buy backs” as the “Bazooka” for Bitcoin’s price trajectory.
Source: Arthur Hayes
Treasury buybacks refer to the US Treasury Department repurchasing its outstanding bonds from the open market to increase liquidity, manage federal debt or stabilize interest rates.
These operations can inject liquidity into the financial system, often benefiting risk assets like Bitcoin.
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Ethereum Foundation shifts focus to user experience, layer-1 scaling
The Ethereum Foundation, the nonprofit organization developing the Ethereum ecosystem, is shifting its focus to user experience and layer-1 scaling challenges following its recent leadership reshuffle.
On April 21, the Ethereum Foundation co-executive director Tomasz Stańczak shared an X post detailing how the organization has changed since its change in leadership structures.
Stańczak said the change aims to give Ethereum co-founder Vitalik Buterin more time for research and exploration rather than dealing with day-to-day tasks and crisis management.
“Each time Vitalik shares insights or communicates a direction, he accelerates major long‑term breakthroughs,” he wrote.
Stańczak added that Buterin’s recent posts advanced promising avenues and helped realign the community around the organization’s core values.
Vitalik Buterin tackles Ethereum privacy and speed
On March 1, the Ethereum Foundation announced that its core researcher Hsiao-Wei Wang and Stańczak, the CEO of Nethermind, would become the co-directors of
US dollar goes 'no-bid' — 5 things to know in Bitcoin this week
Bitcoin (BTC) is eyeing new April highs as macro instability suddenly delivers a tailwind for BTC price performance.
Bitcoin is on the way up, nearing $88,000, but few market participants are willing to trust the strength of snap price moves.
A new macro week dawns in the shadow of the US trade war, with Federal Reserve speakers lining up to take to the stage.
Gold is shattering all-time highs again, but this time Bitcoin is starting to react.
US dollar weakness exhibits historic traits as three-year lows spark bullish predictions for Bitcoin and commodities.
The newest BTC hodlers are already profiting from the latest move, but speculators are waiting for a reclaimation of $91,000.
BTC price spike met with skepticism
Bitcoin is starting the week off right with a 3% rise on the back of fresh macroeconomic turmoil amid the US-China trade war.
BTC/USD reached $87,705 after the April 20 weekly close, data
Metaplanet tops $400M Bitcoin holdings with new $28M purchase
Japanese investment firm Metaplanet increased its Bitcoin holdings to more than $400 million after its latest purchase.
Metaplanet acquired 330 Bitcoin (BTC) for $28.2 million at an average price of $85,605 per BTC, bringing its total holdings to 4,855 Bitcoin worth $414 million, according to an April 21 post from Simon Gerovich, the CEO of Metaplanet.
The firm’s Bitcoin yield surpassed 119% year-to-date after its latest investment.
Source: Simon Gerovich
Metaplanet issued 2 billion Japanese yen ($13.3 million) of bonds to buy more Bitcoin on March 31, Cointelegraph reported.
Related: UK firm buys $250M Bitcoin as analysts eye quiet Easter weekend
The $414 million in Bitcoin holdings make Metaplanet Asia’s largest and the world’s 10th-largest corporate Bitcoin holder, Bitbo data shows.
Source: <a data-ct-non-breakable="null" href="https://treasuries.bitbo.io/"
Crypto adoption will be driven by high-growth markets, with or without the US
Opinion by: Dominic Schwenter, chief operating officer of Lisk
The US is in the middle of a crypto boom. Exchange-traded fund approvals have opened the door to institutional adoption, liquidity is increasing, and regulatory clarity is beginning to take shape under a more crypto-aligned administration. Filings from the Securities and Exchange Commission referencing blockchain hit an all-time high in February 2025, signaling a broader shift in how seriously the technology is being taken at the highest levels.
This momentum is good for the industry. US-based crypto companies have spent nearly a decade building through regulatory uncertainty, and they deserve the attention and rewards that are finally arriving. Is institutional support finally showing up? It’s overdue — and well-earned.
Zooming in on the US too much, however, puts the industry at risk of missing what’s happening elsewhere. Some of the most important crypto adoption