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Kraken adds forex perpetual futures contracts to its Pro platform

Cryptocurrency exchange Kraken introduced foreign exchange (forex) perpetual futures contracts to its Kraken Pro platform on April 18, giving traders further exposure to global currency markets.

The first two perpetual forex futures available on the platform will be the euro-US dollar (EUR-USD) and the British pound-US dollar (GBP-USD) contracts, according to a company announcement.

Both contracts feature 20x leverage and no expiry date, meaning they do not have to be rolled or settled by a deadline, unlike traditional futures contracts, which have an expiry date.

Kraken’s move is the latest in a series of expansions from the company, as it seeks to blur the line between digital assets and traditional financial products — a trend reflected across the crypto industry.

EUR-USD price action. Source: TradingView

Kraken sinks its tentacles into TradFi markets

Price predictions 4/18: BTC, ETH, XRP, BNB, SOL, DOGE, ADA, LEO, LINK, AVAX

Bitcoin (BTC) has been trading in a tight range for a few days, but a minor positive is that the bulls have kept the price above $83,000. Usually, a low volatility period is followed by a range expansion, but it is difficult to predict the direction of the breakout with certainty.

Cryptocurrency analysts remain bullish on Bitcoin’s prospects because gold’s rally in 2017 and 2020 was followed by a sharp rise in Bitcoin’s price. Theya head of growth Joe Consorti said in a post on X that Bitcoin follows gold with a lag of roughly 100 to 150 days.

If Bitcoin moves as per Consorti’s expectations, a new all-time high could be hit between Q3 and Q4 of 2025. On similar lines, trading and analytics account Cryptollica projected a medium-term target of $155,000 for Bitcoin.

Crypto market data

US prosecutors to pursue ex-SafeMoon CEO case despite DOJ memo

Federal prosecutors said they will continue pursuing their case against Braden John Karony, the former CEO of crypto firm SafeMoon, despite the US Justice Department issuing a memo suggesting a policy of abandoning “regulation by prosecution” related to digital assets.

In an April 18 filing in the US District Court for the Eastern District of New York, US Attorney for EDNY John Durham said his office had reviewed the April 7 DOJ memo issued by Deputy Attorney General Todd Blanche and intended to proceed with a trial against Karony.

The former SafeMoon CEO faces securities fraud conspiracy, wire fraud conspiracy, and money laundering conspiracy charges for allegedly “divert[ing] and misappropriat[ing] millions of dollars’ worth” of the platform’s SFM token between 2021 and 2022.

April 18 notice that US prosecutors will continue to prosecute John Karony. Source: PACER

Karony, initially indicted in October 2023 under former US Attorney for EDNY Breon Peace, <a data-ct-non-breakable="null"

Mantra exposes crypto liquidity problems, and Coinbase is bearish: Finance Redefined

Crypto investor sentiment took another significant hit this week after Mantra’s OM token collapsed by over 90% within hours on Sunday, April 13, triggering knee-jerk comparisons to previous black swan events such as the Terra-Luna collapse.

Elsewhere, Coinbase’s report for institutional investors added to concerns by highlighting that cryptocurrencies may be in a bear market until a recovery occurs in the third quarter of 2025.

Mantra OM token crash exposes “critical” liquidity issues in crypto

Mantra’s recent token collapse highlights an issue within the crypto industry of fluctuating weekend liquidity levels creating additional downside volatility, which may have exacerbated the token’s crash.

The Mantra (OM) token’s price collapsed by over 90% on Sunday, April 13, from roughly $6.30 to below $0.50, triggering market manipulation allegations among disillusioned investors, Cointelegraph reported.

While blockchain analysts are still piecing together the reasons behind the OM collapse, the event

Analysts brace for Bitcoin slide on gloomy US manufacturing data

Bitcoin’s spot price could take a hit after the US Federal Reserve reported some of the worst manufacturing data in recent history, according to several cryptocurrency analysts.

On April 17, the Philadelphia Federal Reserve Manufacturing Index — a monthly survey of 250 US-based manufacturers — reported the sharpest declines in overall business activity since 2020.

The data puts Bitcoin (BTC) “under short term pressure,” researchers at Bitunix, a crypto exchange, said in a post on the X platform. They added that Bitcoin could still see a “strong comeback” if its price holds above $83,000 per coin.

As of April 18, Bitcoin has been trading at approximately $84,000 per coin, according to data from Google Finance.

The Federal Reserve’s bearish report comes as factories brace for the impact of US President Donald Trump’s plans

Bitcoin whales absorb 300% of newly mined BTC supply — Is $100K next?

Bitcoin’s (BTC) richest traders and investors are increasingly bullish on BTC despite facing downside risks from unfavorable macroeconomic factors, the latest onchain data suggests.

Bitcoin whales absorbing 300% of new supply

Bitcoin whales and sharks are now absorbing BTC at record rates—over 300% of yearly issuance—while exchanges are losing coins at a historic pace, according to Glassnode.

Notably, Bitcoin’s yearly absorption rate by exchanges has plunged below -200% as outflows continue. This signals a growing preference for self-custody or long-term investment.

Bitcoin yearly absorption rates. Source: Glassnode

Meanwhile, larger holders (100–1,000+ BTC) are scooping up more than three times the new issuance, marking the fastest rate of accumulation among sharks and whales in Bitcoin’s history.

Bitcoin yearly absorption rates of whales and sharks. Source: Glassnode

This marks a structural shift as traditional finance

Oregon targets Coinbase after SEC drops its federal lawsuit

Oregon Attorney General Dan Rayfield is planning a lawsuit against crypto exchange Coinbase, alleging the company is selling unregistered securities to residents of the US state, after the United States Securities and Exchange Commission’s (SEC) dropped its federal case against the exchange.

According to Coinbase’s chief legal officer, Paul Grewal, the lawsuit is an exact “copycat case” of SEC’s 2023 lawsuit against the exchange, which the federal agency agreed to drop in February. Grewal added:

“In case you think I’m jumping to conclusions, the attorney general’s office made it clear to us that they are literally picking up where the Gary Gensler SEC left off — seriously. This is exactly the opposite of what Americans should be focused on right now.”

The lawsuit signals that the crypto industry still faces regulatory hurdles and pushback at the state

South Korean crypto emerges from failed coup into crackdown season

South Korea kicked off 2025 with political chaos, regulatory heat and a crypto market finally brought to heel — or at least forced to grow up.

The nation closed 2024 in disarray following then-President Yoon Suk Yeol’s botched martial law stunt in December.

In the aftermath, authorities spent the first quarter drawing lines in the sand as financial watchdogs slapped cryptocurrency exchanges with probes and lifted the ban on corporate trading accounts. Meanwhile, crypto adoption hit record highs as trading volume cooled.

Here’s a breakdown of the key developments that shaped South Korea’s crypto sector in Q1 of 2025.

South Korea’s economy limped into 2025 as local currency tanked. Source: Ki Young JuSouth Korean crypto traders given yet another two-year tax exemption
Jan. 1 — Crypto tax postponed

A planned 20% capital gains tax on crypto did not take effect on Jan. 1 after lawmakers agreed to delay it until 2027.

Standardization is essential to enable crypto adoption

Opinion by: Axel Schorn and Dr. Duc Au

Traditional stocks, bonds and commodities markets have long benefited from well-established standards governing the flow of information and data. These standards underpin the seamless functioning of trading, settlement and regulatory compliance, ensuring all participants can rely on the same consistent frameworks.

As the financial industry moves into decentralized finance (DeFi) with the introduction of digital assets, like crypto assets and tokenized securities, the lack of such standards presents a growing challenge.

While digital assets promise transformative potential, their fragmented information landscape risks undermining their adoption and integration into the broader financial ecosystem.

Independent platforms like CoinMarketCap or CoinGecko provide information on various tokens, but this data varies significantly regarding market capitalization, total supply and other relevant reference data. Several global initiatives by private foundations and associations are working toward standardization.

Traditional frameworks

Quantum computers likely to reveal if Satoshi is alive — Adam Back

Early cypherpunk Adam Back, cited by Satoshi Nakamoto in the Bitcoin white paper, suggested that quantum computing pressure may reveal whether the blockchain’s pseudonymous creator is alive.

During an interview after a Q&A session at the “Satoshi Spritz” event in Turin on April 18, Back suggested that quantum computing may force Nakamoto to move their Bitcoin (BTC). That’s because, according to Back, Bitcoin holders will be forced to move their assets to newer, quantum-resistant signature-based addresses.

Back said that current quantum computers do not pose a credible threat to Bitcoin’s cryptography but will likely threaten it in the future. Back estimated that quantum computers may evolve to that extent in “maybe 20 years.”

When the threat becomes real, Back said the Bitcoin community