Crypto Lake

🚀 Bitwise Moves Towards NEAR Protocol ETF Launch ➡️ Bitwise, a crypto asset manager, has taken a significant step towards launching a NEAR Protocol-focused exchange-traded fund (ETF) by filing registration documents for a Delaware statutory trust. This entity was registered on April 24, 2025 with CSC Delaware Trust Company listed as its registered agent. Delaware statutory trusts are often used for structuring ETFs due to their legal flexibility and tax efficiency. 📝 To proceed with the ETF launch, Bitwise must submit a detailed proposal to the U.S. Securities and Exchange Commission (SEC). This proposal must include information about custody, market surveillance, and investor protections. However, SEC approval is not guaranteed and can take months or even years, especially for crypto-related products. 📈 This filing is part of a larger industry trend to introduce ETFs that track cryptocurrencies beyond just bitcoin and ethereum. There are currently over a dozen applications pending with the SEC for spot funds linked to assets like SOL, LTC, HBAR, ADA, and XRP. This reflects a growing demand for diversified crypto exposure amid changing regulations. 💼 Bitwise already manages a spot bitcoin ETF and a spot ether fund. The NEAR Protocol, which is a layer one blockchain focused on decentralized applications, has a market capitalization of approximately $3.1 billion as of April 2025. ➡️ Delaware is a popular jurisdiction for ETF filings due to its efficient trust registration process. However, the SEC has been cautious about approving non-bitcoin and non-ether crypto ETFs. Former SEC Chair Gary Gensler emphasized the need for stricter compliance frameworks in the past. 🔄 With SEC Chair Paul Atkins now leading the regulatory body, there may be potential for change. Final decisions on pending applications are expected to set important precedents for future crypto fund launches.

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🚀 Airdrops: The Key to New User Registrations in Cryptocurrency 📊 A recent study by MEXC reveals that airdrop participation accounts for over a third (35%) of new user registrations on its platform, surpassing referrals and organic sign-ups. The Commonwealth of Independent States (CIS) region leads in airdrop participation with 67%, followed by Southeast Asia (51%) and South Asia (32%).

76% of users who register via airdrops remain on the platform,

the study notes,

with 18% becoming active traders and 58% trading occasionally.

It also highlights that 18% of new users associated with airdrop participation become active traders, averaging a daily trading volume exceeding $58,000. 💡 The study suggests that airdrops serve not only as marketing tools but also as a means of financial inclusion. Previously popular in areas with limited banking access, new methods like tap-to-earn are now attracting millions of newcomers to airdrop campaigns. 📉 However, the report points out that 24% of users show minimal activity after participating in airdrop events. Many airdrop recipients tend to sell their received tokens quickly, often immediately after the token generation event (TGE). This has led some projects to impose conditions for participation, such as completing social media tasks or providing liquidity. 🌍 The study also notes that countries with significant diaspora populations, like the Philippines and Pakistan, exhibit high airdrop participation due to the ability to acquire transferable digital assets. In contrast, Africa and Latin America—previously strong in cryptocurrency adoption—now show low airdrop engagement, possibly due to factors like token fatigue or decentralized finance (DeFi) influences. 📈 In the CIS region, airdrop participation has become a cultural phenomenon driven by economic incentives. The area's above-average digital literacy and widespread use of Telegram create favorable conditions for scaling airdrop campaigns.

🗣 Kiyosaki's Warning: Ten U.S. States on the Brink of Collapse 📉 Robert Kiyosaki, the author of Rich Dad Poor Dad, has made a controversial prediction about the future of ten U.S. states. He claims that mass migration and economic stress are leading to the collapse of these states, with Hawaii topping his list. The other states he mentions are Mississippi, New Mexico, Alaska, Nevada, West Virginia, Louisiana, New York, Illinois, and California. 📱 On April 18, Kiyosaki shared his views on social media, asking his 2.7 million followers,

Is this list good news or bad news for you?

He expressed sympathy for those living in the states he listed. His post quickly gained traction, amassing 146,000 views and nearly 200 comments. 🗣 The reactions to Kiyosaki's post were mixed. Some users agreed with his assessment, citing issues like rising crime rates, high taxes, and the cost of living as reasons for the states' decline. However, others challenged his claims. One commenter referenced Census 2025 data indicating that 42 states are experiencing population growth and pointed out that Hawaii is gaining 72,000 new residents each year. They also noted that Mississippi's GDP has increased by 18.7% since 2000, arguing that while migration is a reality, the term 'collapse' is an exaggeration. ⚠️ Despite the criticism, Kiyosaki is known for his alarmist views on the U.S. economy. He has often warned about the declining trust in fiat currency, unsustainable national debt, and the potential collapse of the U.S. dollar. He advises his followers to prepare financially by investing in assets like gold, silver, and bitcoin as a hedge against systemic collapse.

💰 China's Bitcoin Dilemma: Seized Assets and Strategic Decisions ➡️ A recent Reuters report highlights that China possesses 15,000 seized bitcoins (BTC) from criminal investigations. However, officials are currently debating how to manage these assets as cryptocurrency trading remains illegal in the country. ➡️ Local governments across China are considering policy changes to facilitate the liquidation of confiscated crypto assets. The report indicates that various provincial governments have quietly redirected seized digital currencies into local fiscal initiatives following a series of criminal investigations.

Third-party private firms are being enlisted to offload the seized assets on behalf of local administrations,

the article states, citing conversations with attorneys advising regional governments on cryptocurrency matters. Despite multiple inquiries sent to local governments like Xuzhou, Hua’an, and Taizhou, there was no response from officials. 💸 The report reveals that local authorities collectively hold around 15,000 bitcoins, valued at approximately $1.26 billion based on current exchange rates. Winston Ma, a former managing director of China Investment Corp (CIC), suggested that a centralized framework or utilizing Hong Kong’s financial infrastructure could be a viable solution for managing these holdings. He stated,

A more centralised management would help China maximize the value of the seized cryptocurrencies.

❌ This report contradicts earlier claims that China is seeking to establish a strategic bitcoin reserve similar to proposals by U.S. President Donald Trump. Earlier this year, David Bailey, CEO of Bitcoin Magazine, suggested that China was exploring the creation of such a reserve. However, considering the country's previous liquidation of approximately 200,000 BTC linked to the Plustoken scheme and the findings from Reuters' latest reporting, it seems that Chinese authorities are not inclined to retain these assets for the long term.

🔮 Bitcoin Price Forecast: Metaplanet and NVIDIA Form Bullish BTC Catalysts, $100K rally ahead? 🚀 Bitcoin price tops $84K on Wednesday as Metaplanet $10M purchase and NVIDIA sell-off spark bullish momentum—could BTC rally to $100K? 👉 Read more

➡️ Latin America Crypto News: Argentina Investigates Libra, Brazil Seizes Crypto ♾ This week in Latam Insights, we cover significant developments in the crypto landscape of Latin America. The Argentine lower chamber is set to investigate the government's role in the launch of the Libra token, while Brazil has made a historic move by allowing the legal seizure of cryptocurrency assets. Additionally, the Brazilian CBDC pilot, drex, faces challenges due to dwindling support from external partners. 🔍 In Argentina, the Congress has approved the formation of a commission to investigate the involvement of high-ranking government officials in the Libra launch and its subsequent issues. This initiative received backing from 128 representatives from left-leaning blocs, despite opposition from 93 representatives. The 24-member commission will examine various testimonies to determine if President Javier Milei and others were involved. The investigation is set to begin on April 23 and will have three months to report its findings. ⚖️ In Brazil, a landmark decision by the National High Court has established that cryptocurrency can be seized to settle outstanding debts. This ruling recognizes digital assets as taxable properties that can be used for payments, even though they are not considered legal tender. The court's decision opens up new avenues for debt recovery from individuals who do not utilize traditional financial systems. ➡️ Meanwhile, the drex pilot program for Brazil's central bank digital currency is encountering obstacles due to a decrease in resources allocated to the project. Major companies like Microsoft and EY have scaled back their involvement in developing privacy solutions for drex. The central bank's recent actions, including the closure of the second phase of the pilot without approving any participant projects, have contributed to this standstill. None of the privacy proposals submitted have met the central bank's requirements for ensuring transaction secrecy while allowing regulatory oversight.

🎮 Shuffle: Revolutionizing Crypto Gaming with SHFL Token 💡 As crypto adoption increases, so does the need for platforms that merge entertainment with real utility. Shuffle is stepping up to meet this demand by placing its SHFL token at the center of a gamified ecosystem that combines high-stakes play, user rewards, and blockchain transparency. The platform offers a range of games, including casino games and a revamped lottery system with a prize pool exceeding $2 million. ➡️ The SHFL token serves a clear functional role within the Shuffle platform. It is integrated into gameplay and user engagement, allowing players to use it for wagering on various games such as slots and sports betting. Additionally, holding SHFL unlocks VIP perks, grants access to airdrop campaigns, and benefits from a buyback and burn mechanism that creates long-term deflationary pressure.

Every new ticket purchased increases the jackpot instantly.

➡️ The upgraded SHFL Lottery offers a transparent and rewarding experience for players. Key features include single tickets priced at $0.25, powerplay tickets for $4 that allow players to pick their numbers, and shareable tickets that promote community interaction. The most notable aspect is the dynamic prize pool that grows with each ticket purchase, creating real-time excitement. 🌐 What sets Shuffle apart from other blockchain gaming platforms is its alignment between platform growth and token value. By embedding SHFL into its infrastructure, Shuffle ensures long-term sustainability. As users engage with the platform, the utility and value proposition of SHFL strengthen.

It’s not just a crypto casino—it’s proof of how Web3 can align incentives, reward users, and deliver real, on-chain utility.

🌟 Shuffle caters to all types of players, whether they seek the excitement of a lottery ticket or a deeper connection through token utility and strategic gameplay. With SHFL at its core and a lottery system already awarding millions in prizes, Shuffle is setting a new standard for blockchain-based entertainment. Players are encouraged to join the game where their tokens unlock access, perks, and real potential.

➡️ Yescoin: A Game-Changer in the Cryptocurrency Landscape 🌐 Investing in cryptocurrency has become increasingly complex due to speculative tokens and abandoned roadmaps. However, Yescoin, a Telegram-based Web3 platform, is changing this narrative through strategic partnerships with industry influencers. ↪️ Yescoin's collaborations with leading exchanges and infrastructure providers address critical issues of liquidity, trust, and market coverage. For instance, Crypto exposes Yescoin to a vast user base of 80 million traders, while OKX and Bitget ensure smoother token listings, accounting for 15% of global crypto exchange liquidity. Mantle adds Ethereum-compatible infrastructure for easy onboarding to DeFi protocols. These partnerships reduce risks for investors, especially during the pre-listing stage. 🎮 Yescoin boasts a functional ecosystem with gamified mini-apps, ad marketplace integration, and staking options. This approach has led to 500,000 monthly active users and 25% month-over-month growth. In contrast, platforms like Axie Infinity took 12 months post-token to reach similar numbers. 💰 Yescoin's unique revenue model addresses crypto's sustainability problem. Unlike meme coins that rely on speculative trading, Yescoin generates revenue through on-chain advertising and deflationary mechanics. This blend creates perpetual buy pressure and contributes to a deflationary environment. 📊 Yescoin's user metrics are impressive, with 180,000 daily active users and a 38% weekly retention rate. In comparison, the average Uni DeFi app retains only 12% of users weekly. The familiar Telegram user base facilitates participation without the need for downloads. ➡️ Despite its strong pre-launch traction, Yescoin faces challenges. Infrastructure may need to scale with growth to 2 million MAUs, and regulatory scrutiny with Telegram in the EU is a concern. However, Yescoin's diversified revenue streams, active products, and strategic partnerships position it well for a potential market takeover in 2025.

🚨 U.S. Targets Houthi Financial Network ➡️ The U.S. Department of the Treasury’s Office of Foreign Assets Control (OFAC) has identified eight digital asset wallets linked to the Houthis for transferring funds related to their activities. Additionally, several individuals and entities have been designated as part of a Houthi financial facilitation network allegedly supported by Iran’s Islamic Revolutionary Guard Corps-Qods Force. 💰 This network is accused of procurring commodities worth tens of millions of dollars from Russia, including weapons, sensitive goods, and stolen Ukrainian grain. U.S. officials stated that these actions aim to weaken the Houthis’ capacity to destabilize the region. 🌟 OFAC's designations mandate that all property and interests of the designated individuals and entities within the United States must be reported to it.

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📉 XRP Market Analysis: Current Trends and Future Outlook ➡️ XRP is trading at $2.16 with a market cap of $125 billion and a 24-hour trade volume of $2.76 billion. It has fluctuated between $2.09 and $2.21 recently, remaining 36.4% below its all-time high. 📊 The 1-hour chart shows a consolidation phase for XRP around the $2.16 mark. Minor green candlesticks indicate early buyer interest, but the lack of significant upward momentum suggests market hesitation. A breakout above $2.17 with volume support could lead to a short-term move towards $2.22 to $2.25. However, failing to hold above $2.1 may result in further declines. 📉 On the 4-hour chart, XRP is on a downward trajectory despite a temporary recovery near $2.06. Resistance at $2.3 remains strong, and recent price action shows a lack of sustained upward momentum. If XRP can reclaim $2.2 with strong volume, it could present a short-term buying opportunity targeting $2.3 to $2.4. ➡️ The daily chart highlights a broader downtrend for XRP. Previous attempts to maintain gains above $2.5 have failed, reinforcing resistance in the $2.5 to $2.7 range. Support is at $2.1, with a secondary level near $1.9. A decline in volume indicates reduced participation from both buyers and sellers, suggesting a possible consolidation phase. ⚖️ Oscillator readings show mixed sentiment. The relative strength index (RSI) is neutral at 41.18, while the Stochastic oscillator also remains neutral. The commodity channel index (CCI) signals a buy due to oversold conditions, but the average directional index (ADX) indicates a weak trend. Momentum presents a buy signal, yet the moving average convergence divergence (MACD) points to a sell, reflecting ongoing bearish pressure. ↪️ Moving averages reinforce the bearish sentiment. The exponential and simple moving averages across short to medium timeframes indicate sell signals. However, the 200-period EMA and SMA suggest a longer-term buying opportunity as XRP remains above these critical support levels. 📈 Fibonacci retracement levels provide additional insight. On the daily chart, XRP is near the 0.786 retracement level at $2.11. Holding above this level could support a rebound towards $2.28 or $2.4. The 4-hour chart shows price testing the 0.786 level at $2.15, with potential upside to $2.23 if buying pressure strengthens. ➡️ Traders should remain cautious, considering both technical indicators and market sentiment. Monitoring for increased volume, bullish candlestick patterns, and RSI divergences will be essential in identifying potential reversal points. Risk management remains crucial, with well-placed stop losses to mitigate further downside.

🏆 Coinbase Resumes Staking in South Carolina After Legal Dispute ⚖️ Coinbase has successfully resumed its staking services in South Carolina following the dismissal of a legal dispute with the state's Securities Division. The Attorney General's Office and Coinbase agreed to drop an enforcement action initiated in June 2023, which had included a cease and desist order regarding Coinbase's staking services.

The dominoes keep falling. South Carolina just joined Vermont to dismiss its unfounded staking lawsuit against Coinbase,

said Coinbase Chief Legal Officer Paul Grewal. He emphasized that this outcome is not only a victory for Coinbase but also for American consumers. Grewal expressed hope that this decision could indicate a positive trend for other states that still impose restrictions on staking. 🔄 Following the resolution, Coinbase has reinstated its staking services in South Carolina, with Grewal confirming,

We’re now live again with staking in South Carolina – including all entrypoints.

He also pointed out the financial impact of the legal proceedings on local residents, noting that South Carolinians lost approximately $2 million in staking rewards due to the case. 👏 Grewal commended South Carolina for its decision, stating,

We applaud South Carolina for standing up for justice and hope the remaining states with bans on staking will take notice.

This resolution marks a significant shift in the regulatory landscape for cryptocurrency, as it closes the matter under South Carolina’s regulation S.C. Code of Regulations 13-604(X) without imposing any penalties or legal fees.

➡️ Circle's Historic Stablecoin Approval in Japan 🚀 Circle Internet Group Inc. has made a significant leap in its international expansion by securing Japan's first and only stablecoin approval for its USDC stablecoin. This milestone was announced on March 25 and is bolstered by a strategic partnership with SBI Holdings. Circle's CEO, Jeremy Allaire, highlighted the importance of this achievement, stating that it opens up vast opportunities in digital asset trading, payments, cross-border finance, and commerce. ♾ Following the regulatory approval, SBI VC Trade, a subsidiary of SBI Holdings, is set to launch USDC trading in Japan on March 26. Other major Japanese exchanges like Binance Japan, Bitbank, and Bitflyer are also preparing to list the stablecoin. This positions Circle's USDC as the first global dollar stablecoin to receive full regulatory clearance under Japan's updated stablecoin framework. 🗣 Allaire emphasized the extensive efforts made over the past two years to engage with Japan's regulators and industry players to enable USDC for the Japanese market. He noted that this initiative unlocks tremendous opportunities not just in trading but also in various financial services.

Major launch events happening all day today in Tokyo!

he added. 💬 Yoshitaka Kitao, Chairman and CEO of SBI Holdings, expressed his enthusiasm for this development. He stated,

SBI Holdings is proud to play a key role in expanding USDC adoption in Japan, a move that enhances digital asset accessibility and promotes financial innovation.

Kitao believes that this initiative will drive digital asset innovation and align with their vision for the future of blockchain-based finance in Japan. 🌐 With a dedicated local team, Circle aims to improve market infrastructure and provide businesses with the necessary tools for digital payments and international financial flows. This strategic move not only marks a significant milestone for Circle but also positions Japan as a leader in digital finance policy and stablecoin regulation.

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💰 Tether's Strategic Move: Dominating U.S. Treasuries 🌍 Tether, the leading stablecoin provider in the cryptocurrency market, has emerged as a significant buyer of U.S. treasuries to support the value of its over $140 billion USDT issuance. In 2024, the company acquired more than $33 billion in treasuries, ranking just behind countries like the Cayman Islands, France, Luxembourg, Belgium, Singapore, and the UK. Notably, Tether surpassed traditional U.S. debt buyers such as Canada, Taiwan, Mexico, and Norway. 📈 The role of stablecoins in bolstering U.S. debt has been a topic of discussion. Former House Speaker Paul Ryan highlighted this potential, stating that stablecoins could provide an

immediate, durable increase in demand for U.S. debt, which would reduce the risk of a failed debt auction and an attendant crisis.

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⚠️ US Lawmakers Raise Concerns Over Trump's Crypto Involvement and Musk's Influence 🟢 Several U.S. lawmakers, including Senator Elizabeth Warren and Representative Jamie Raskin, have expressed alarm regarding President Trump's ties to the cryptocurrency sector and Elon Musk's growing power. In a letter addressed to White House Chief of Staff Susie Wiles on March 17, they highlighted Trump's financial connections to the crypto industry, particularly his TRUMP meme coin which reportedly generated nearly $100 million in trading fees within two weeks.

Donald Trump flips on crypto: From ‘scam’ to building a ‘crypto army,’

the lawmakers stated, emphasizing the potential risks of foreign influence and the lack of regulation in crypto markets. ⚠️ The letter also raised concerns about Commerce Secretary Howard Lutnick's financial ties to the crypto sector, warning that Trump and Lutnick could undermine financial regulations despite indications of a potential market bubble. 📝 Additionally, the lawmakers pointed to Elon Musk's increasing influence over the federal government, which they argue has been bolstered by Trump's establishment of the Department of Government Efficiency. They noted that

President Trump has ceded power to the world’s richest man, Elon Musk,

who stands to gain from the department's initiatives. 📉 The letter claimed that at least 11 federal agencies with ongoing investigations into Musk's businesses have been weakened, allowing him to operate with minimal oversight. Concerns were also raised about a potential $2.4 billion contract shift from Verizon to Musk's Starlink services, which could indicate self-enrichment at the cost of regulatory integrity. 📢 The lawmakers called for immediate action to address these ethical issues, stating:

These immense financial conflicts of interest have real-world stakes for the American public.

They urged Trump to divest from his private business interests and for Musk to release his financial disclosure form to clarify any potential conflicts. 🟢 The letter concluded with a plea for urgent reform and requested a response from the White House by March 31 detailing how these concerns would be addressed. 💬 Supporters of Trump and Musk argue that their involvement in cryptocurrency and deregulation promotes innovation and economic growth. They view Trump's embrace of digital assets as a step towards financial independence and see Musk's influence as a necessary challenge to bureaucratic inefficiencies.

🚨 North Dakota Regulators Warn About Fraudulent 'Investment Education Foundations' ⚠️ The North Dakota Securities Department has raised alarms over fraudulent "investment education foundations" that claim to educate investors about cryptocurrency and stocks while actually running sophisticated scams. Tim Karsky, the state's Securities Commissioner, highlighted that these schemes employ deceptive tactics such as "risk-free" trials and fake loans to lure victims into investing their own money and paying exorbitant commissions. He stated,

The rise of fake 'investment education foundations' is a concerning trend that preys on investors' desire to reduce the risk of investing in cryptocurrency.

📱 The scams often begin with social media ads that lead potential victims to Whatsapp groups managed by a fake founder and automated bots. In these groups, the alleged founder offers investment lessons and later introduces a fraudulent cryptocurrency exchange. Investors are initially given "free" tokens to try out an AI-powered trading bot that falsely appears to generate profits. 💰 Once individuals are convinced by this illusion of success, they deposit real money. If they lack funds, scammers direct them to fake loan providers on Telegram. These loans are then credited directly to the fraudulent exchange. However, victims soon discover that they cannot withdraw any funds unless they repay the loans or cover fabricated commissions. The scam typically ends with accounts being frozen under the guise of regulatory issues before the fraudsters shut down operations and rebrand under a new name. ♾ To enhance their credibility, scammers may present real government documents, claim registrations with the U.S. Securities and Exchange Commission (SEC) and U.S. Department of the Treasury, and publish misleading articles online. The North Dakota Securities Department emphasized,

Scammers legitimize their operations using real government and professional documents, including registration with the U.S. Department of the Treasury and the U.S. Securities and Exchange Commission.

🔍 The North Dakota Securities Department advises investors to verify the legitimacy of an education foundation before engaging with them. Karsky warned,

Do not assume an education foundation is trustworthy just because it is promoted on social media.

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