Author: Monicah W

A US court has vacated its decision against Tornado Cash, prohibiting the Office of Foreign Assets Control (OFAC) from reinstating previous sanctions on the crypto mixer. Coinbase CLO Paul Grewal hailed the ruling while taking swipes at the Treasury Department over the botched handling of the delisting procedure.

Coinbase CLO Ecstatic Over Court Ruling In Favor Of Tornado Cash

The legal drama between the US Department of the Treasury and Tornado Cash has taken another turn following a new court ruling. According to an X post by Coinbase Chief Legal Officer (CLO) Paul Grewal, the US District Court for the Western District of Texas has vacated its previous judgment that sided with the Treasury Department.

Under the new ruling, the federal court reversed its judgment, noting that OFAC’s decision to impose sanctions against Tornado Cash violated the Administrative Procedure Act. This time, the court is siding with Tornado Cash, with the ruling having far-reaching implications for parties.

The Coinbase CLO notes that the decision bars OFAC from reissuing original sanctions on Tornado Cash. However, the agency can still impose fresh sanctions in the future, but it has to comply fully with the APA.

“OFAC is now legally prohibited from reinstating the original sanction,” said Grewal. “Congratulations to the brave plaintiffs who had the courage to stand up to their own government for their rights under law.”

OFAC imposed sanctions on Tornado Cash after finding ties between the crypto mixer and the North Korean hacking syndicate Lazarus. Despite his support of Tornado Cash, the Coinbase CLO is pushing for improved blockchain transparency in the fight against crime.

Court Trashes US Treasury Over Its Delisting Process

After a series of legal drawbacks, the US Treasury applied to the court to moot its final decision on the matter. At the time, the US Treasury argued that since it had removed Tornado Cash from the SDN list, there was no need for a final court judgment.

However, in the latest ruling, the court took swipes at the Treasury Department over its decision to moot the case. The Coinbase CLO has previously bashed the Treasury Department, noting that the hasty decision to moot the case signals a ploy to reissue sanctions on Tornado Cash.

“On the second prong, defendants do not suggest they will not sanction Tornado Cash again, and they may seek to re-enact precisely the same designation in the future,” said the court before discarding the application.

Following the ruling, Tornado (TORN) price spiked by nearly 8% on the daily charts to reach $7.90. The rally follows a 50% XMR price spike as Bitcoin and other top cryptocurrencies score modest gains over the last day.

Paul Grewal’s heat map is red-hot with the Coinbase CLO revealing new facts from the Ethereum 2.0 investigation documents.

The post Coinbase CLO Hails Court Decision Vacating OFAC’s Sanctions Against Tornado Cash appeared first on CoinGape.

Cardano (ADA) has recently shown strong signs of a recovery, giving traders new hope for a rally towards the $1 mark. The price has climbed above $0.70 for the first time since March and is currently facing key resistance levels that could decide the next move.

Cardano Price Strong Recovery Hints at Rally

According to crypto analyst Ali Charts, the Cardano price is approaching a major test at $0.74. A breakout above this level could open the way for a move toward $0.88 for ADA price. Over the past seven days, Cardano has gained more than 12%, showing increased investor interest.

Trading volume has risen by 33% in the past 24 hours, reaching $723 million. This higher volume signals that buyers are becoming more active as Cardano attempts to overcome resistance barriers between $0.7150 and $0.7200. If the Cardano price fails to break above these levels, it could drop back to $0.6800.

The ADA price is currently trading around $0.7088, showing a daily gain of 2.04%. It continues to recover from the recent low of $0.6500. However, some technical indicators suggest that the upward momentum could be weakening as ADA price nears critical resistance points.

Whale Activity and ETF Speculation

Large Cardano holders, often referred to as whales, have been increasing their ADA holdings. Data from Santiment shows that wallets holding between 10 million and 100 million ADA now control 35.5% of the total supply. This figure has risen from 33% in January, indicating sustained accumulation boosted by the recent reveal of backing for the Ripple coin XRP.

Wallets with between 1 million and 10 million ADA have also grown to account for 15.83% of the supply. Analysts view whale accumulation as a positive sign, as it often suggests that large investors expect future gains.

In addition, speculation about a potential spot ADA ETF is gaining momentum. Following the appointment of Paul Atkins as the new chair of the Securities and Exchange Commission (SEC), expectations for ETF approvals have increased. Moreover, Polymarket data shows the probability of an ADA ETF being approved this year jumped to 51%.

Golden Cross Formation and Bullish Momentum

As per the recent technical analysis, a Golden Cross on the 4-hour chart has emerged, strengthening the Cardano’s price’s bullish outlook. Subsequent to this crossover, the price rose sharply and then trading above the 50 period SMA which has since become the support. Another positive sign was marked by higher highs and higher lows in the price action.

The Money Flow Index (MFI) at the moment is 55.33, which is more neutral to slightly bullish at the moment. The MFI is not overstretched towards the buy signal and not oversold, meaning there is potential for rising ADA prices if the undertone remains bullish.

On a larger timeframe, Cardano price is within the falling channel formed in the first half of 2025. The price has reversed from the channel bottom and is currently moving towards the midway and the upper edge of the channel.

An upward breakout above the upper Bollinger Band about $0.77 to $0.78, in accordance with Ali Charts, could open the way for further upward trends towards $0.88 possible. Therefore, if Cardano price clears this region, it will endorse the bullish signal highlighted earlier by the Golden Cross formation.

According to the charts, resistance is around $0.70 to $0.72, with further support at the lower border of the channel at $0.55 to $0.57. If the resistance levels remain intact, Cardano could revisit the lower support level before attempting another breakout.

The post Cardano Price Eyes Rally To $1 As Golden Cross Pattern Forms appeared first on CoinGape.

Galaxy Digital may have lost faith in Ethereum and is angling for a massive offload of ETH tokens in the near future. The financial services firm has moved 23,900 ETH to Coinbase in a move that triggered sell-off concerns for the largest altcoin.

Is Galaxy Digital Selling Off Its ETH Holdings?

Fresh on-chain data suggests that Galaxy Digital is jockeying to sell off a substantial portion of its Ethereum holdings. According to an X post by Lookonchain, the firm has transferred 23,900 ETH, worth a staggering $42 million, to Coinbase.

Galaxy Digital moved the ETH holdings from its OTC wallets in multiple transactions, transferring the holdings to Coinbase in under eight hours.

“OTC wallets of Galaxy Digital have deposited 23,900 ETH ($42.52M) to Coinbased in the past 8 hours,” wrote Lookonchain.

The ETH transfers have since sparked concerns of an incoming sell-off by the financial services firm. Traditionally, whales moving a significant amount of their holdings to centralized exchanges are a tell-tale sign of an incoming asset sale.

Sentiment for a sell-off is high in this case, given the sheer volume of ETH transfers to Coinbase and Galaxy Digital’s previous track record. Last week, Galaxy Digital offloaded ETH to purchase SOL on Binance, triggering a price slump for the largest altcoin.

Why Is The Firm Selling Off Its ETH?

Recent plays are indicating a changing stance by Galaxy Digital toward Ethereum. Previously, the firm went on an ETH accumulation spree with CEO Mike Novogratz buying a significant number of assets.

The financial services firm is now turning its gaze toward Solana from Ethereum, given the wave of market challenges faced by ETH. An unenthusiastic price performance that sees Ethereum struggle to hit $2,000 and Solana’s glowing metrics is dousing Galaxy Digital’s enthusiasm for the largest altcoin.

Despite the moves, the recent ETH sales may be short-term efforts by the firm to meet its immediate liquidity needs. Furthermore, the movement of funds may be a change in internal custody processes and not an actual sale.

Ethereum price is holding its own since Galaxy Digital moved its ETH holdings to exchanges. ETH is trading at the $1,800 mark with whales scooping 10M ETH in a show of faith in the beleaguered asset.

The post Galaxy Digital Deposits 23,900 ETH On Coinbase Sparking Sell-Off Concerns appeared first on CoinGape.

The post FTX News: Lawsuits Filed to Recover Assets and Boost FTX Repayment appeared first on Coinpedia Fintech News

Even after FTX collapse, the exchange isn’t stepping out of the spotlight. In the latest FTX News update, the bankrupt crypto exchange has launched a legal offensive to recover assets in a fresh effort to speed up FTX repayments.

According to a new press release on PR Newswire, FTX has filed lawsuits against NFT Stars Limited and KUROSEMI INC., the company behind Delysium. FTX claims these firms failed to deliver specific tokens that rightfully belong to its estate, even after multiple reminders and negotiation attempts.

With out-of-court talks failing, FTX is now seeking court orders to force the return of the disputed assets.

More Lawsuits on the Horizon

The legal push may just be getting started. FTX has warned that more lawsuits are coming, targeting other token and coin issuers who are allegedly holding onto assets. The exchange is actively reaching out, but if companies fail to cooperate, they can expect swift legal action.

The message is loud and clear: hand over the assets or prepare for a courtroom battle.

On the other side, Crypto analyst Eva Lenoir throws shade at FTX’s legal move, sarcastically calling it a “sheriff” act. She questions where this energy was when Sam Bankman-Fried was mishandling users’ funds, suggesting the lawsuits against NFT Stars and Delysium come far too late to matter.

Moreover, she also believes that the real losers are small investors who’ll bear the cost. She contrasts the chaos with Bitcoin, calling it strong, unshaken, and still shining.

Why FTX Is Ramping Up the Pressure

The FTX legal team emphasized that every asset recovery counts. Returning these tokens could significantly boost the funds available for FTX repayments to creditors who are still awaiting compensation after the exchange’s catastrophic collapse.

While FTX says it prefers to resolve matters amicably, it has made it clear it will not hesitate to pursue aggressive legal remedies if needed.

In its mission to maximize FTX repayments, the collapsed exchange is taking no prisoners. Lawsuits are now firmly on the table, and more companies could soon find themselves in FTX’s crosshairs.

FAQ

The post FTX News: Lawsuits Filed to Recover Assets and Boost FTX Repayment appeared first on Coinpedia Fintech News
Even after FTX collapse, the exchange isn’t stepping out of the spotlight. In the latest FTX News update, the bankrupt crypto exchange has launched a legal offensive to recover assets in a fresh effort to speed up FTX repayments. According to a new press release on PR Newswire, FTX has filed lawsuits against NFT Stars …

The post XRP Price Prediction Today: When Will Ripple Rally? appeared first on Coinpedia Fintech News

XRP is showing strength after breaking above a key Fibonacci resistance area earlier this week. This upward move followed positive market sentiment, likely driven by recent developments around crypto-based ETFs. While the structure of the rally remains complex, analysts are closely watching several important price levels for signs of continued bullish rally.

Short-Term Structure Supports Further Upside

XRP has continued to form higher highs and higher lows, a classic sign of upward momentum. Price action is currently following a diagonal wave pattern, a type of bullish structure that is less powerful than a strong impulsive trend but can still support further gains.

The recent swing low at $2.11–$2.12 (April 24) now serves as a critical support level. As long as XRP stays above this range, the bullish scenario remains intact. A drop below this level would call for a re-evaluation of the short-term structure.

The next upside targets are in the $2.46 to $2.55 range. This area aligns with the 138% Fibonacci extension level, which is often considered a key milestone in wave-based analysis. Reaching this zone would complete a larger third wave in the current five-wave pattern.

Larger Structure Still Unclear, But Bullish Signs Emerging

XRP is still trading within a long-term descending parallel channel on the daily timeframe, meaning the broader trend remains bearish for now. However, there are growing signs that this trend may be losing strength.

On the 3-day chart, the bearish divergence in the RSI—active since earlier in the year—is close to being invalidated. If the RSI moves above its previous high, and the price breaks out above the $2.50 level, that would serve as a strong signal of a trend reversal.

This would shift XRP out of short-term relief rallies and into a more defined bullish trend.

The post XRP Price Prediction Today: When Will Ripple Rally? appeared first on Coinpedia Fintech News
XRP is showing strength after breaking above a key Fibonacci resistance area earlier this week. This upward move followed positive market sentiment, likely driven by recent developments around crypto-based ETFs. While the structure of the rally remains complex, analysts are closely watching several important price levels for signs of continued bullish rally. Short-Term Structure Supports …

The post ProShares XRP ETF Won’t Launch on April 30, Says Bloomberg Analyst James Seyffart appeared first on Coinpedia Fintech News

Recently, several crypto media outlets mistakenly reported that the SEC had approved ProShares’ XRP ETFs for an April 30 launch. The confusion stemmed from an old filing dated April 15, which resurfaced online and was incorrectly shared as a new development. Despite the rumors spreading quickly across social media, ProShares made no official announcement.

According to Bloomberg ETF analyst James Seyffart, while the U.S. Securities and Exchange Commission (SEC) has indeed given its approval, the launch date has been pushed back and is now expected sometime in the short to medium term. Meanwhile, Brazil has already taken the lead by approving the first XRP ETF.

ProShares Gears Up for Major XRP Futures Products

ProShares has ambitious plans for XRP exposure. The company is preparing to launch three XRP futures ETFs:

• Ultra XRP ETF offering 2x leveraged returns
• Short XRP ETF offering -1x inverse returns
• Ultra Short XRP ETF providing -2x inverse exposure

These products are aimed at institutional investors looking for regulated ways to speculate on XRP’s price swings—without the complications of holding the asset directly. Futures ETFs also help bypass many of the security and regulatory hurdles typically associated with direct crypto ownership.

Teucrium Breaks Ground, ProShares Poised to Follow

Teucrium made history earlier this month by launching the first XRP futures ETF on the New York Stock Exchange on April 8. The fund saw encouraging trading volumes from day one, signaling strong market appetite for XRP-based investment vehicles. ProShares’ upcoming entries are expected to further deepen the XRP ETF market.

Spot XRP ETFs: Still in Limbo

While futures ETFs are gaining momentum, spot XRP ETFs remain stuck in the regulatory pipeline. ProShares, along with firms like Grayscale and 21Shares, is still waiting for the SEC’s green light. After facing initial delays in April, most applications are now looking toward a second decision window by late May. Some cases may not see a final verdict until mid-October.

Despite the uncertainty, optimism is building. JPMorgan estimates that XRP ETPs could attract between $4 billion and $8 billion in net inflows if they achieve adoption rates similar to Bitcoin and Ethereum ETFs.

The post ProShares XRP ETF Won’t Launch on April 30, Says Bloomberg Analyst James Seyffart appeared first on Coinpedia Fintech News
Recently, several crypto media outlets mistakenly reported that the SEC had approved ProShares’ XRP ETFs for an April 30 launch. The confusion stemmed from an old filing dated April 15, which resurfaced online and was incorrectly shared as a new development. Despite the rumors spreading quickly across social media, ProShares made no official announcement. According …

The post Will Donald Trump Create a Bitcoin Reserve Tomorrow? appeared first on Coinpedia Fintech News

As President Donald Trump marks his first 100 days back in office with a rally hosted by Securing American Greatness, excitement is growing around whether he will take a historic step by officially adding Bitcoin to the United States’ financial reserves. According to prediction market Polymarket, there is currently a 6% chance that Trump will announce a Bitcoin reserve before the 100-day milestone ends tomorrow.

This speculation follows recent comments from U.S. Secretary of Commerce Howard Lutnick, who appeared on Bitcoin Magazine to discuss the administration’s evolving stance on digital assets. Lutnick opened up about a strong shift away from the previous administration’s restrictive approach to cryptocurrency, saying, “Under Biden, it was treated like you were doing something wrong… That’s over now.”

Treating Bitcoin Like Gold

Lutnick said that the Trump administration sees Bitcoin not as a currency, but as a commodity, similar to gold or oil. “There’s only so much of it,” he explained. “Bitcoin is like gold to me… It should be treated like a commodity.”

He added that once the U.S. formally accepts Bitcoin as a commodity, it could open the door for widespread use, including buying, selling, and holding it as an asset—just like gold. “No one stops someone from selling oil or gold,” he said. “Bitcoin should be the same.”

Potential Role in Trade and GDP

Lutnick also revealed that the Bureau of Economic Analysis is exploring the idea of treating Bitcoin similarly to gold in economic statistics, such as trade balances and GDP. While he didn’t confirm any official plans, he said it’s “a good idea” that is under consideration.

The Commerce Secretary emphasized the importance of making government data more transparent, hinting that new classifications could emerge to help Americans understand how Bitcoin fits into national economic metrics.

Strategic Bitcoin Reserve?

Although Lutnick didn’t confirm whether the U.S. already holds Bitcoin in a strategic reserve, he did mention that discussions are ongoing. “When the administration wants to come out with those answers, we will,” he said, but declined to provide details on holdings or key management.

He reiterated that Bitcoin remains on the administration’s agenda and praised Trump’s commitment to supporting the crypto community. “Trump promised to support Bitcoin, and he’s delivered,” Lutnick stated. “After tackling trade and global peace efforts, Bitcoin will definitely be back on the agenda.”

The post Will Donald Trump Create a Bitcoin Reserve Tomorrow? appeared first on Coinpedia Fintech News
As President Donald Trump marks his first 100 days back in office with a rally hosted by Securing American Greatness, excitement is growing around whether he will take a historic step by officially adding Bitcoin to the United States’ financial reserves. According to prediction market Polymarket, there is currently a 6% chance that Trump will …

The post Two Key Dates for XRP: May 1st and June 9th, Here’s Why appeared first on Coinpedia Fintech News

While several financial firms are racing to launch an XRP exchange-traded fund (ETF), the biggest name in the room—BlackRock—is staying quiet. Despite 15 XRP ETF filings from firms like Grayscale, Bitwise, and even Canary Capital, BlackRock has made no move. But their silence may be more strategic than it seems.

An expert’s conversation with a BlackRock insider revealed two dates to watch: May 1 and June 9. The reason behind these dates remains under wraps, but there’s growing speculation that something major could be brewing.

Why Is BlackRock Holding Back?

BlackRock’s hesitation isn’t because they dislike XRP. According to industry whispers, it’s all about timing and leverage. By staying out of the current rush for XRP ETFs, BlackRock avoids the risk of rejection from the SEC. If others get denied, they escape the headlines. If approval comes later, they can jump in—well-prepared and with full force.

Some analysts suggest this is also a negotiation tactic. Behind the scenes, BlackRock could be pressuring Ripple—the company behind XRP—to strengthen its partnerships, improve institutional demand, and build strong custody solutions. That way, when BlackRock finally enters the game, they’re stepping into a market that’s ready for prime time.

What If the SEC Clears XRP?

If the SEC officially declares XRP a non-security, it could be a game-changer. Liquidity would surge, institutions could jump in without fear, and demand for an XRP ETF could skyrocket. And if that moment comes, BlackRock would be perfectly positioned to enter with a trusted product—perhaps even dominating the space.

The post Two Key Dates for XRP: May 1st and June 9th, Here’s Why appeared first on Coinpedia Fintech News
While several financial firms are racing to launch an XRP exchange-traded fund (ETF), the biggest name in the room—BlackRock—is staying quiet. Despite 15 XRP ETF filings from firms like Grayscale, Bitwise, and even Canary Capital, BlackRock has made no move. But their silence may be more strategic than it seems. An expert’s conversation with a …