A Bitcoin Suisse board member has proposed that the Swiss central bank consider adding Bitcoin to its reserves. The suggestion highlights the potential advantages of including the cryptocurrency in the country’s financial strategy. By diversifying its assets, the Swiss central bank could benefit from Bitcoin’s growth, reinforcing Switzerland’s role as a pioneer in adopting digital assets. This proposal reflects the increasing interest in Bitcoin as a reliable store of value.
The decentralized exchange Hyperliquid is facing scrutiny following its handling of the JELLY token market, raising concerns from industry leaders. Bitget CEO Gracy Chen compared Hyperliquid to the now-defunct exchange FTX after Hyperliquid’s response to unusual activity involving the JELLY token resulted in an estimated $10.6 million loss. The delisting of the token and forced settlement of open positions drew sharp reactions from the crypto community.
Bitget CEO Warns Hyperliquid May Mirror FTX Collapse
In a recent post on X, Bitget CEO Gracy Chen warned that Hyperliquid could follow a similar trajectory to FTX. Chen raised alarms over the platform’s decision to halt the trading of the JELLY token and forcefully settle open trades. According to her, this action created unfair outcomes, favoring some traders while causing losses to others.
Bitget CEO labeled Hyperliquid’s actions as immature and unethical. The forced closure followed a 230% spike in JELLY price within one hour. A $5 million short position was liquidated during this time, raising concerns about market manipulation. The situation placed Hyperliquid’s treasury at further risk, with potential exposure reportedly nearing $240 million.
Gracy Chen added,
“Unless these issues are addressed, more altcoins may be weaponized against Hyperliquid—putting it at risk of becoming the next catastrophic failure in crypto.”
A recent report highlighted how Hyperliquid Vault is at risk of losing its entire $230 million fund due to a surge in the Solana-based memecoin JELLY JELLY. The platform inherited a short position amid a short squeeze and now faces mounting pressure as the token’s price continues to climb.
Concerns Over Compliance and Risk Structure
Bitget CEO continued to criticize Hyperliquid’s lack of standard compliance practices. She pointed out the absence of Know-Your-Customer (KYC) and Anti-Money Laundering (AML) measures. Chen stated that Hyperliquid, although presenting itself as a decentralized platform, operated similarly to an offshore centralized exchange.
She added that this regulatory gap may allow illicit funds to move through the platform undetected. These concerns were echoed by others in the industry, including former BitMEX CEO Arthur Hayes. Chen also warned that if left unchecked, the model could lead to the same vulnerabilities that contributed to the collapse of FTX.
Mixed Vaults and Position Sizes Raise Risk
The Bitget CEO highlighted structural concerns with the platform’s product design. She noted that the use of mixed vaults exposed users to shared risks. According to Chen, this could allow the actions of a few traders to affect all users on the platform.
The JELLY token’s sharp price rise triggered emergency action from the exchange’s validator set. The platform cited suspicious market activity as the reason for delisting the token. However, the decision to settle trades at a specific price led to a backlash from affected traders.
Bitget CEO described the settlement approach as a dangerous precedent. She stressed that trust, not just capital, is essential for the success of any exchange. Without addressing these vulnerabilities, Chen warned that Hyperliquid could face further threats from manipulated markets.
Meanwhile, FTX bankruptcy case expenses reached nearly $1 billion, with legal and advisory firms receiving substantial payouts. Court records show that Sullivan & Cromwell LLP alone has earned over $248 million for handling the proceedings.
A wave of heavy sell-offs linked to the team behind the Melania meme coin (MELANIA) has raised fresh concerns about insider activity within the project.
These activities have contributed to the token’s value dropping to an all-time low, a staggering 97% down from its all-time high on Trump’s inauguration day back in January.
Heavy Insider Selling Sends MELANIA to Historic Low
On April 19, on-chain analyst EmberCN reported that wallets tied to the project offloaded nearly 3 million MELANIA tokens.
In return, the team received approximately 9,009 SOL, valued at around $1.2 million. The tokens were sold through unilateral liquidity provisions added to the MELANIA/SOL trading pair on Meteora.
This transaction is part of a broader pattern. In the past three days, the MELANIA team reportedly moved 7.64 million tokens, worth about $3.21 million, from both liquidity and community wallets.
The team systematically added these tokens to the same liquidity pool and sold them for SOL within a pre-defined price range. Out of the total, they sold 2.95 million tokens just hours before EmberCN’s disclosure.
“In the past 3 days, the $MELANIA project team has continued to transfer out 7.643 million $MELANIA tokens ($3.21M) from liquidity and community addresses, then added them to MELANIA/SOL one-sided liquidity on Meteora, selling $MELANIA within a set range for SOL. Of which, 2.95 million $MELANIA tokens were sold 7 hours ago for 9,009 SOL,” EmberCN stated.
EmberCN further pointed out that the project’s team has sold over 23 million MELANIA tokens in the past month. The tokens were worth approximately $14.75 million.
These repeated sell-offs have added weight to concerns over internal dumping—suspicions that first emerged in March.
At the time, blockchain analytics firm Bubblemaps reported unusual movements of over $30 million in MELANIA tokens. Originally part of the community allocation, the tokens appeared to be gradually transferred to exchanges without explanation.
Bubblemaps also revealed that wallets tied to the MELANIA team control roughly 92% of the token’s total supply. Critics argue that this level of centralization raises red flags over potential market manipulation.
As a result of these concerns, MELANIA has seen its price collapse. After reaching a high of over $13 earlier this year, the token has dropped by over 96% to an all-time low of $0.38, according to data from BeInCrypto.
However, the steep decline reflects both internal turmoil and broader weakness in the meme coin sector. Investor appetite for high-risk tokens appears to be fading amid global uncertainty and a more cautious market sentiment
Ethereum price eyes a 250% rally as China’s 34% tariffs on U.S. goods fuel macro uncertainty, driving capital into crypto markets.
Why China’s 34% Tariffs on U.S. Goods Could Propel ETH 250%
Ethereum price traded near $1,820 on Friday, rising 1.6% in a muted performance compared to broader market leaders. While Bitcoin (BTC), Solana (SOL), and XRP all rallied over 3%, ETH lagged behind.
However, China’s 34% tariffs on U.S. imports introduce fresh volatility triggers that could accelerate ETH’s upside momentum.
BTC/Nasdaq Correlation Hits 37-Day Low Amid Trade War Tensions
Markets reacted sharply to China’s unexpected decision to impose 34% tariffs on a broad range of U.S. imports.
Equities dipped in early trading, but crypto assets remained largely resilient.
According to TradingView data, Bitcoin’s correlation with the Nasdaq 100 fell to 0.42, its lowest level since February 25.
Bitcoin Price Correlation to NASDAQ 100 | BTCUSD
Historically, such divergence signals capital rotation. When equities experience trade-related instability, investors often seek alternative hedges, initially favouring Bitcoin.
If momentum continues, ETH price typically follows with steeper gains.
Reallocation Accelerates as Macro Risks Intensify
The current geopolitical backdrop mirrors 2019, when market turbulence from COVID-19 lockdowns led to increased capital inflows into crypto.
With global retaliation measures now escalating following Trump’s tariff rollout, ETH price could soon surpass the $1,900 resistance level and sustain a broader uptrend.
US Fed Rate Pause Could Boost Ethereum’s DeFi Ecosystem
Following the Federal Reserve’s latest policy meeting, another rate pause now seems likely. If traditional savings and treasury yields remain low, investors may shift capital into DeFi for higher returns.
As the leading smart contract platform, Ethereum’s DeFi sector could see rising demand, increasing ETH accumulation.
If additional retaliatory trade measures emerge, alternative assets like ETH may gain further traction.
ETH Price Forecast: Falling Wedge Pattern Hints at a 250% Rally
Ethereum price is forming a falling wedge, a historically bullish pattern suggesting a potential 250% breakout toward $3,200. ETH is testing the wedge’s upper boundary near $1,900, with confirmation requiring a sustained close above this level.
The MACD indicator signals early bullish momentum, with an imminent MACD line crossover. If buyers sustain pressure above VWAP at $1,804, ETH could confirm the wedge breakout and accelerate higher.
ETH Price Forecast
However, rejection at $1,900 could invalidate the bullish outlook, exposing ETH to $1,600 support. A breakdown below this level might send prices toward $1,400, aligning with historical support zones.
Ethereum next move depends on Bitcoin’s strength and macroeconomic trends. If ETH breaks out, it could mirror past parabolic rallies, but failure to breach resistance may lead to deeper corrections before a true recovery. Traders should monitor volume and momentum for confirmation.
