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blockonomi.com Chinese Commentator Calls Bitcoin a CIA Trap as Iran’s Military Uses It to Bypass Sanctions

TLDR: Jiang Xueqin, a Yale-educated philosophy teacher, claims Bitcoin runs on CIA-controlled servers. Iran’s IRGC collected roughly $2M per supertanker in Bitcoin fees at a major oil chokepoint. Bitcoin operates across 22,174 nodes in 164 countries with no central server or kill switch. BIP-361, Adam Back’s Paris speech, and Jiang’s viral video all emerged within [...] The post Chinese Commentator Calls Bitcoin a CIA Trap as Iran’s Military Uses It to Bypass Sanctions appeared first on Blockonomi.

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blockmanity.com Bitcoin Rally Sparks Alarm: Analysts Highlight Short Squeeze Risks in Volatile Crypto Markets

Bitcoin’s Surge Above $75,000 Ignites Trader Skepticism Bitcoin has climbed back above $75,000, exciting many investors. But not everyone is cheering. Margin traders show strong doubt about this rise lasting. They bet against Bitcoin keeping its upward push. This mismatch […] The post Bitcoin Rally Sparks Alarm: Analysts Highlight Short Squeeze Risks in Volatile Crypto Markets appeared first on Blockmanity.

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news.bitcoin.com Singapore Gulf Bank Unveils Stablecoin Mint and Redeem Service for Institutional Clients

Singapore Gulf Bank has launched a stablecoin mint and redeem service, allowing institutional and high-net-worth clients to convert fiat currency to digital assets with 24/7 instant settlement. Key Takeaways: SGB launched 24/7 stablecoin minting on SGB Net to enable instant settlement for transactions over $100,000. To drive adoption, SGB is waiving Solana gas and bank […]

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bitcoinist.com French Authorities To Roll Out New Protective Measures Amid Crypto Wrench Attacks Rise

As France becomes a hotspot for crypto-related kidnappings and “wrench attacks,” authorities have announced fresh measures to crack down on these crimes and boost the security of digital asset holders in the country. Related Reading: Binance Founder CZ Says Biden Admin Wanted To ‘Make An Example’ Of Him French Authorities To Boost Crypto Holders’ Security […]

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forklog.media Adam Back Questions Satoshi’s Billion-Dollar Fortune and Suggests Key Loss

The lack of movement of early bitcoins is not necessarily due to deliberate inactivity by Satoshi Nakamoto. The creator of the first cryptocurrency might have simply lost the private keys, according to cryptographer Adam Back.  “It could have happened. After all, he is human,” he said during a speech at the Blockchain Paris Week conference. Adam Back speaking at Blockchain Paris Week. Source: ForkLog.  The expert noted that in the early years of bitcoin, wallet backups were not as reliable and convenient as they are now, following the widespread adoption of HD wallets and seed phrases. Users had to manually save the wallet.dat file containing a set of private keys. With active transactions, this backup needed regular updating.  According to Back, not everyone was aware of this feature, leading some early users to lose access to part of their funds. Future migration of coins to quantum-resistant address types may reveal how many early miners truly retained control over their keys. How Much BTC Belongs to Satoshi  The expert also emphasized that the market still does not know for certain how many coins belong to the creator of bitcoin. Common estimates are based on mining pattern analysis, but such conclusions remain hypotheses. He recalled that in the first year of the network's existence, participants mined about 2.5 million BTC. Satoshi's presumed share is usually estimated at 500,000-1 million BTC.  According to Arkham, the assets under Nakamoto's management amount to 1.096 million BTC, valued at $82.8 billion at the current rate. However, these assets might belong to another early player, Back believes.  Source: Arkham.  “We don't actually know if these are Satoshi's coins. We assumed they belong to him, but they could be owned by another early miner. We don't know,” he stated.  In the cryptographer's view, the creator of bitcoin might own about 500,000 coins.  “Did he spend them? It is often said that he did not. But no more than 40% of the 2009 coins were spent. As for later periods, the uncertainty is higher. Perhaps he spent later coins. We don't know for sure. They would be the most private,” the expert noted.  Wave of Institutional Adoption  Back also predicted a wave of institutional adoption of bitcoin in the coming years. According to him, a massive influx of funds from large players has not yet occurred.  “People heard about institutional adoption and expected purchases to start immediately. But institutions are more systematic and process-oriented, which takes time,” the expert noted.  A large bank may announce the inclusion of the first cryptocurrency in model portfolios, but this is followed by a lengthy process of coordination with lawyers, compliance, and custodian selection. However, this process is already underway, Back emphasized. According to BlackRock's flow data, institutions hold about 30% of coins through ETFs. The remaining 70% are private individuals managing savings through brokers or advisors.  The main wave is yet to come, the cryptographer believes. A vast number of people do not make independent investment decisions. Their savings are distributed across pension funds and insurance policies managed by professional managers. “Probably, this is where most of the money in the world is,” Back said. These managers are only beginning to go through the necessary procedures. Once they complete the approvals, access to bitcoin will open up for millions of people who have never entered crypto exchanges.  “I think this is still ahead. The late wave will start in the next few years,” the expert concluded. In April, a NYT journalist conducted an extensive investigation and concluded that Adam Back is the creator of bitcoin. The cryptographer denied this. 

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blockonomi.com What the SUI Price Prediction Looks Like After a Leveraged ETF Hits Nasdaq? While Pepeto Might Be A Better Choice

The SUI price prediction gained fresh weight this week when 21Shares listed TXXS on Nasdaq, a 2x leveraged ETF that marks the first product of its kind tied to SUI on a major US exchange. SUI sits at $0.95 with a 0.2% daily move, still down 82% from its $5.36 peak in January 2025. Over [...] The post What the SUI Price Prediction Looks Like After a Leveraged ETF Hits Nasdaq? While Pepeto Might Be A Better Choice appeared first on Blockonomi.

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news.bitcoin.com Economist Proposes National USD Stablecoin to Eliminate Currency Controls in Venezuela

Alejandro Grisanti, head of Ecoanalitica, proposed issuing a national USD stablecoin as part of a series of measures to lift currency controls in Venezuela. This system would complement the current auction system, allowing the excluded sector to receive dollars via blockchain rails. Key Takeaways: Ecoanalitica proposes a stablecoin to fix local dollar shortages, driving future […]

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bitcoinist.com Charles Schwab’s Crypto Plan In Stages—Major Platform Details Announced

Charles Schwab has shared more specifics about its upcoming “Schwab Crypto” platform, giving eligible customers a path to buy and sell bitcoin (BTC) and Ethereum (ETH) directly.  Schwab Crypto’s Roadmap At launch, Schwab Crypto will offer direct trading in Bitcoin and Ethereum, which the firm says together account for roughly three-quarters of total crypto market […]

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blockmanity.com BTC Steady Near $74,600 as ETH Holds Above $2,300: Volatility Fades Against Bullish Technical Signals

BTC Steady Near $74,600 as ETH Holds Above $2,300: Volatility Fades Against Bullish Technical Signals In the fast-moving world of crypto, prices can swing wildly. But right now, while . This stability is a big deal. It shows strength even […] The post BTC Steady Near $74,600 as ETH Holds Above $2,300: Volatility Fades Against Bullish Technical Signals appeared first on Blockmanity.

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news.bitcoin.com Sanctioned Exchange Grinex Hit by $13.7M Hack; Blames Foreign Intelligence Services

The sanctioned crypto-ruble exchange Grinex has suspended all operations following a high-level cyberattack that resulted in the theft of over $13.74 million worth of tether stablecoins. Key Takeaways: Grinex halts operations after a state-level hack drains over 1 billion rubles in USDT from user wallets. The 2025 takeover of Garantex solidified Grinex as a primary […]

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themerkle.com Rhea Finance, Exploit Prompts Immediate Response, Team Moves to Secure Funds & Limiting Damage

The team behind Rhea Finance has delivered an initial update after a part of its ecosystem was exploited. This statement’s wording suggests that the story is still developing.  As stated in the following announcement, the team discovered this vulnerability around ten hours prior to the update release and urgently shifted their scopes towards securing user funds and an arranged response. This is a key moment for which speedy action is needed, and from what we understand from the details available so far, that seems to be exactly what the team are doing on a number of fronts.There are still details The post Rhea Finance, Exploit Prompts Immediate Response, Team Moves to Secure Funds & Limiting Damage appeared first on The Merkle News.

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forklog.media Drift Protocol Investors File Class Action Lawsuit Against Circle

Joshua McCollum, a victim of the Drift Protocol hack, along with over 100 others, filed a lawsuit against Circle in a Massachusetts court. The plaintiffs accused the issuer of the stablecoin of aiding hackers and negligence.  According to the statement, the firm allowed cybercriminals to transfer approximately $230 million in USDC to the Ethereum network through the cross-chain protocol CCTP without hindrance.  “Circle allowed criminals to use its technology. If the company had intervened in time, these losses could have been avoided or significantly reduced,” commented McCollum's lawyers.  The victims of the attack are demanding full compensation from the issuer, with the final amount to be determined by the court. The lawyers pointed out that about a week before the Drift hack, Circle froze 16 addresses as part of a classified civil case in the United States. In their view, this precedent proves the firm's technical ability to promptly freeze funds. On-chain detective ZachXBT considers the issuer's slow response to illegal operations involving USDC unacceptable. After the Drift hack, he reported at least 15 instances of the company's inaction, costing victims $420 million.  Circle's Position and Community Reaction Earlier, during a press conference, Circle CEO Jeremy Allaire defended the decision not to intervene in the situation. According to him, wallet blocking is carried out solely at the direction of law enforcement agencies. Actions outside established legal procedures in private cases can create a “serious moral dilemma,” noted the head of the firm.  “If someone believes that Circle should ignore the law and make its own decisions — that is a very risky position,” added Allaire. ARK Invest's Director of Digital Asset Research Lorenzo Valente supported the issuer. According to him, the company acted correctly: freezing funds without a court order opens the door to arbitrariness. Ok, pretty much everyone is mad at @circle and @jerallaire for not freezing the ~$230M in USDC the @DriftProtocol hacker bridged from Solana to Ethereum after the $285M exploit. Let me steelman why it was actually the right call 🧵1. "Code is not law, but law is not law… https://t.co/eKOXzCSMGz— Lorenzo Valente (@LorenzoARK) April 16, 2026 “Every future freeze will be a subjective decision. Every refusal to do so — a political statement. Why freeze the Drift hacker but not that dubious Nigerian scam wallet? Why this protester and not that one?” he wrote.  At the same time, the expert emphasized that the correctness of the decision “depends on the balance between the rule of law and specific harm.” Valente acknowledged that the funds stolen from Drift could go towards North Korea's nuclear program.  Meanwhile, Bloomberg analyst James Seyffart called Circle and its CEO's arguments a “weak excuse.”  I hope there's some precedent set. Either you're a decentralized protocol and literally do not have the power to freeze or you're not and you should be freezing hacked funds. This middle ground hand wavy "only with a court order" stuff is weak. Misses the forest for the trees https://t.co/TqzOYKZOvm— James Seyffart (@JSeyff) April 16, 2026 “I hope this sets a precedent. Either you are decentralized and cannot freeze funds, or you are not — and then you are obliged to do so. The 'only by court order' stance is a vague excuse that misses the point,” he noted.  At the time of writing, Circle has not commented on the filing of the class action lawsuit.  Back in April, Drift raised $148 million from Tether and other partners to recover from the hack. 

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forklog.media Analysts Warn of Short Squeeze Risks in Cryptocurrency Market

Bitcoin's return to levels above $75,000 is met with skepticism: margin traders doubt the continuation of the price rise, writes Bloomberg. Funding rates for perpetual futures have remained negative for about 46 consecutive days. This is one of the longest periods of bearish sentiment in the history of derivatives, comparable only to the aftermath of the FTX exchange collapse at the end of 2022. Dynamics of the funding rate for bitcoin-based perpetual futures. Source: Glassnode. According to agency analysts, there is a noticeable gap between the positive dynamics of spot prices and the pessimistic positioning in futures. Such discrepancies often lead to large-scale liquidations. If quotes continue to rise, holders of short positions will start incurring losses and will be forced to close them en masse. This process, known as a short squeeze, can trigger a sharp price surge. The longer the pressure persists, the stronger the price impulse may be. “Traders are actively increasing short positions, betting against the breakout. This creates conditions where a short squeeze becomes more likely if the upward momentum continues,” noted K33's head of research, Vetle Lunde. Factors Supporting the Asset Despite traders' skepticism, the leading cryptocurrency has gained about 11% from April's local lows. Four-hour chart of BTC/USDT on Binance. Source: TradingView. Several fundamental factors are supporting the market: Capital inflow. American spot bitcoin ETFs are increasingly showing positive fund inflows; Institutional actions. Michael Saylor's Strategy company has acquired bitcoins worth $2.6 billion in just the past two weeks. According to FalconX senior derivatives trader Bohan Jiang, these transactions have significantly strengthened the market; Wall Street initiatives. Brokerage corporation Charles Schwab announced the launch of spot crypto trading, allowing up to 8.8% portfolio allocation in digital gold. Morgan Stanley became the first major bank with its own exchange-traded fund based on the first cryptocurrency. Dynamics of weekly inflows and outflows from spot ETFs. Source: SoSoValue. Experts warned: the abundance of positive news makes short positions vulnerable. Any of the listed triggers could provoke a spike in volatility and a bear capitulation. “A breakthrough above $76,000 could drive BTC to $85,000. Such a rally could catch many off guard,” believes Kaiko analyst Lorenz Fraussen. Resistance and Risks Bears still have a chance for profit if the upward trend halts. According to Deribit exchange data, options market participants are willing to pay high premiums for downside protection: open interest is concentrated around put contracts with strikes at $60,000 and $50,000. If growth continues, the leading cryptocurrency may face strong resistance. According to Bohan Jiang's observations, options dealers using market-neutral strategies sell the asset on price increases, with their largest positions concentrated around $80,000. At the time of writing, bitcoin trades around $75,500—40% below the all-time high of approximately $126,000 set in October. Earlier, CryptoQuant analysts warned of the risk of mass profit-taking in the cryptocurrency market.

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bitcoinist.com Tether Expands Bitcoin Bet, Holdings Hit $7.2B After $70M Purchase

Tether has added another $70 million in Bitcoin to its reserves, lifting its total stash to 91,141 BTC, or about $7.2 billion at current prices. Related Reading: Denmark’s Crypto Ownership Rate Among Lowest In Europe At 4%: Report The latest move came through a withdrawal of 951 BTC from Bitfinex, according to on-chain data cited […]

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