Arbitrum (ARB) wanted to join Nvidia’s Ignition AI Accelerator program but was reportedly turned down as part of the chipmaker’s risk control strategy.
The Layer-2 (L2) network has been strategically attempting to rebuild its reputation amid an ongoing struggle to recover from an 85% price dip.
Nvidia Turns Down Arbitrum’s Bid
Reports indicate that Arbitrum had originally planned to be the Ethereum partner in Nvidia’s Ignition AI Accelerator program. However, the L2 network was reportedly turned down at the last moment.
As it happened, the American multinational technology company prefers to avoid crypto firms for risk control purposes.
“Nvidia recently explicitly excluded cryptocurrency-related projects from its Inception program,” Wu Blockchain reported.
Indeed, when Nvidia launched its accelerator program, the firm articulated on the application page that crypto-related firms would not be eligible.
“The following types of organizations do not qualify for membership: Consulting and outsourced development firms, companies associated with cryptocurrency, cloud service providers, resellers and distributors, and public companies,” read an excerpt on the application page.
This stance presents a calculated risk to preserve the GPU giant’s AI-first brand identity. Nevertheless, some say the move could stifle innovation as artificial intelligence and decentralized systems tend to intersect.
“The recent announcement by Nvidia to exclude cryptocurrency-related projects from its Inception program raises questions about the future of collaboration between traditional tech giants and the blockchain sector,” one user shared on X (Twitter).
Arbitrum is Ethereum’s largest layer-two scaling solution, trailed by other players in the same space, including Optimism (OP). Data on L2Beats shows Arbitrum One, the optimistic rollup that inherits Ethereum’s security by posting transactions on-chain, leads L2s in TVL metrics.
While Arbitrum leads L2 scaling solutions, it remains well below its December 6, 2024, high of $1.2384. Against this backdrop, the network has been taking steps to recover.
Among them is a token buyback initiative in March to strengthen its ecosystem and absorb supply shocks due to a massive token unlock event. For a time, the initiative worked, buoying ARB price 36% before the downtrend continued, bottoming out at $0.2420 on April 7.
Nevertheless, analysts suggested more interventions with the token still over 70% below its December highs. Yogi, a well-known wallet maxi, said strategies like token buybacks lack long-term vision as they signal a slowdown in innovation.
Similarly, a Messari Crypto researcher, Patryk, suggested that Arbitrum remains flexible and deploys funds into strategic areas over time rather than committing to a rigid framework such as token buybacks.
“I think projects will do this eventually. It’s just difficult to announce a concrete plan for the funds at the beginning of buybacks, like those that Arbitrum just announced. Remain flexible,” the researcher suggested.
Accordingly, Arbitrum may have considered pivoting to Nvidia’s accelerator program for a competitive edge. Now that this plan has fallen, Aributrum faces an ARB airdrops proposal to incentivize early supporters.
In an exclusive interview with BeInCrypto, former US CFTC Commissioner Timothy Massad explains how President Trump’s crypto ventures and political power have significantly overlapped in his first two months at the White House.
Shortly before assuming office for the second time, US President Donald Trump dove head-first into a flurry of crypto experiments. From endorsing World Liberty Financial (WLFI) to launching his meme coin, Trump is raising serious concerns over conflicts of interest. Tim Massad, the 12th CFTC Chairman, who served under Barack Obama, shares his thoughts.
A Historic President For Many Reasons
Before assuming his first term in office in 2016, President Trump broke with modern precedent by departing from established conflict-of-interest norms. A real estate mogul with a trademark for a last name, Trump would be entering the Oval Office as the leader of a multi-billion dollar empire.
While former presidents like Jimmy Carter and George W. Bush took measures to separate themselves from their businesses by placing their assets in a blind trust, the sitting President took a different approach.
Instead, Trump handed day-to-day management decisions over to his sons but did not divest in his ownership stake.
Though he received much backlash during his first term over conflict of interest concerns, Trump refused to relinquish ownership of the Trump Organization before assuming office for the second time.
Given Trump’s favorable stance toward digital asset policy development, players inside and outside the industry have begun to wonder whether his decisions are based on the sector’s best interests or are designed to benefit his own ventures.
How Deep is Trump’s Involvement in World Liberty Financial?
Though Trump does not have a direct role in WLFI, he appears on the whitepaper’s list of supporting teams as “Chief Crypto Advocate.” His three sons, Eric, Donald Jr., and Barron, are also on the list.
Reports further unveiled that the Trump family holds a 75% stake in the platform’s net revenue and a 60% stake in the holding company. At the same time, Trump and his associates own 22.5 billion of the company’s tokens.
For former CFTC Commissioner Tim Massad, despite Trump’s informal role in WLF’s governance, his stake in the platform’s performance raises serious conflicts of interest.
“I think it’s unprecedented and plainly wrong for a President of the United States to engage in commercial ventures or have his family and associates engage in commercial ventures that can be directly influenced by the policies he adopts as President or the statements he makes about those policies,” Massad told BeInCrypto.
Meanwhile, the tokens themselves are non-transferrable, limiting financial flexibility. Though the project aims to provide token holders access to a range of DeFi-related products and services, it has yet to launch them. In the meantime, token holders will have to wait until the time comes to use their tokens.
“I have yet to see any real business case or utility that’s of value to people who invest. So I think it all just has a character of taking advantage of people,” Massad added.
The industry has also grown weary over how WLF and other Trump-endorsed projects could be used to gain the President’s favor.
Industry Leaders Voice Concerns Over World Liberty Financial’s Legitimacy
Shortly before Trump launched World Liberty Financial, many prominent figures in the crypto sector warned that the project could cause Trump further legal troubles. Meanwhile, Alex Miller, CEO of Web3 platform Hiro, described the project as an “obvious pump scheme.”
Meanwhile, Alex Miller, CEO of Web3 platform Hiro, described the project as an “obvious pump scheme.”
Just fucking shoot me
Anyone who thinks this is good for crypto, that it doesn’t make us look like clowns, that it doesn’t set us back YEARS in credibility….
This is such an obvious pump scheme. Maybe he won’t literally rug but he’s just grifting and it’s pathetic pic.twitter.com/8bTGmUfLvG
Other industry leaders, such as Mark Cuban, Max Keiser, and Anthony Scaramucci, also criticized Trump’s decision to proceed with WLF’s token sales. Trump’s involvement in the project heightened fears that crypto’s fragile public image and controversial reputation would be smeared further.
Massad agreed with this last point, adding that crypto policy development is alive and well today more than ever. The ongoing development of stablecoin regulations, open talks of a national crypto strategic reserve, and a Senate-driven digital asset working group are only some of the current institutional initiatives.
“He, the Trump Organization and his family members should not be engaging in commercial ventures that pose such blatant conflicts of interest, given the fact that crypto regulation and things like a potential Bitcoin reserve are important policy issues today. A US president shouldn’t be engaging in these things at all, in my view,” Massad said.
Since the project’s launch six months ago, several examples validating these concerns have emerged. The most notable one has focused on Tron founder Justin Sun.
The move was highly controversial. Despite Trump’s endorsement, WLFI struggled to meet its $30 million fundraising target during its first public sale. The token’s availability was restricted, excluding general trading and limiting purchases to non-US and accredited US investors.
Sun’s investment turned WLFI’s luck around. Soon after that, he also became one of the project’s advisors. Then, on the day of Trump’s inauguration, Sun invested an additional $45 million in the project, bringing the total sum to $75 million.
This investment brought varying degrees of scrutiny. While some questioned his quick transition from investor to advisor, others pointed to Sun’s past as a potential motive for his contributions.
In March 2023, the SEC filed fraud charges and other securities law violations against Sun and his companies. This regulatory baggage has led some industry leaders to question the wisdom of his association with World Liberty Financial.
Meanwhile, Tron’s price soared following Sun’s latest WLF investment. Tron, which had been experiencing lagging prices up until that point, was able to jumpstart its trading activities.
TRON Price Surge Following Sun’s $45 Million Investment in World Liberty Financial. Source: TradingView.
However, these conflicts of interest are not just limited to Sun’s investment.
Zhao could also benefit from an agreement. In 2023, he pleaded guilty to federal charges for failing to implement adequate anti-money-laundering measures at Binance.
Following his plea, Zhao resigned as Binance’s CEO. Motive-driven speculations point toward the possibility of a potential presidential pardon.
For Massad, maneuvers like these are natural when a president directly involves himself in crypto ventures.
“I think there is a huge risk of conflicts of interest and corruption by virtue of the President and people associated with him selling crypto assets—whether that’s through World Liberty Financial or the meme coins. It creates the potential for ongoing conflicts, because people who might want to curry favor with the administration could buy the coins,” Massad told BeInCrypto.
All the while, Trump benefits his crypto ventures every time he makes a pro-crypto announcement.
Is Trump Manipulating the Crypto Market?
A week into March, Trump signed an executive order to establish a Crypto Strategic Reserve and a US Digital Asset Stockpile. In his original announcement, Trump said the reserve would include Bitcoin, Ethereum, and altcoins like XRP, ADA, and SOL.
The crypto market responded immediately, with all five cryptocurrencies posting strong gains. Yet, Trump’s announcement quickly raised concerns over potential market manipulation.
With Bitcoin, Ethereum, and XRP in its treasury, WLF’s holdings grew in value as those assets appreciated. This growth could have boosted investor confidence, leading to higher demand for WLF tokens.
The crypto market’s overall surge and attention to Trump-related projects also generated greater investor interest in WLF, contributing to its price appreciation.
Meanwhile, Trump’s meme coin surged following the President’s reserve announcement. While TRUMP’s price stood at $13.55, with a trading volume of almost $1.2 billion on March 2, those numbers surged to $17.46 and $3.6 billion, respectively, following the news a day later.
On March 4, TRUMP’s price and trading volume plummeted below the numbers they registered only two days earlier.
“I think the meme coins have looked like a classic pump-and-dump scheme or money grab. I don’t think the issue should be, why not let people invest in these things if they want to? Of course they should have the right to invest in whatever they want. The issue is the propriety of the President of the United States selling things that capitalize on his being the President,” said Massad.
Even Ethereum Co-Founder Vitalik Buterin touched on the damaging effects of political meme coins in a social media post published five days after TRUMP’s launch.
“Now is the time to talk about the fact that large-scale political coins cross a further line: they are not just sources of fun, whose harm is at most contained to mistakes made by voluntary participants, they are vehicles for unlimited political bribery, including from foreign nation states,” Buterin said.
There is perhaps an analogy with weed here.
Ten years ago, to many weed represented freedom, and rebellion against sclerotic old order that denied self-sovereignty over our bodies. Then, weed became legalized, and “official”.
On that day, I remember my personal interest in weed…
Given Trump’s active participation in the crypto industry over the past several months, a vital question remains: Why hasn’t Trump been held accountable over these apparent conflicts of interest?
The answer remains short and bitter: He can’t be.
Can Trump Be Held Accountable?
The potential conflicts of interest arising from Donald Trump’s involvement in the cryptocurrency industry have drawn the attention of various political figures, particularly those focused on government ethics and oversight.
US Senator Elizabeth Warren has been the most vocal opponent of Trump’s dealings in the crypto industry.
“I write today to request information about how you, as President Trump’s ‘Crypto Czar,’ have addressed your conflicts of interest, and how you will prevent the President and other private individuals from directly profiting off of the Trump Administration’s efforts to selectively pump the value of certain crypto assets, drop crypto asset-related enforcement actions, and deregulate the crypto asset industry. These actions have the potential to benefit billionaire investors, Trump Administration insiders, and speculators at the expense of middle-class families,” Elizabeth Warren wrote.
However, not much else can be done beyond letters that demand responses and clarifications from the Trump administration.
The Legal Loophole
US Presidents are largely exempted from conflict of interest provisions. This exemption has been based on legal interpretations that argue these laws could impede the President’s ability to fulfill their constitutional duties.
“The problem is, the POTUS is not subject to the conflict-of-interest laws that apply to most other executive branch officeholders. There is the Foreign Emoluments Clause in the Constitution, which prohibits accepting gifts from foreign countries. There’s also a domestic clause that prohibits accepting gifts from the government. But beyond that, he’s not subject to the usual conflict-of-interest standards. So, it’s unfortunate that we don’t have those standards applicable to a president. I think, had any other president done these things, there would be far more outrage,” Massad told BeInCrypto.
Given the legal circumstances, public scrutiny and political pressure are the best ways to hold a president accountable for potential conflicts of interest.
Yet, despite the legal exemptions for sitting presidents, the ethical implications of Trump’s crypto dealings remain undeniable.
As the lines between political power and personal profit continue to blur, the necessity for clear ethical standards, even without legal mandates, becomes increasingly urgent.
Failing to do so might erode public trust in the crypto industry, generating potentially irreversible consequences.
Crypto scams are surging as more people flock to digital currencies, with fraudsters exploiting the industry’s rapid growth to deceive investors.
Recently, numerous crypto users reported receiving fraudulent emails claiming that the Gemini exchange had filed for bankruptcy. Meanwhile, Coinbase Exchange has admitted that an employee illegally accessed user account information.
Gemini Exchange Addresses Bankruptcy Allegations
Multiple accounts highlighted the scam on social media, indicating that an email circulating falsely claims that Gemini has filed for bankruptcy. The email instructed users to withdraw to an Exodus wallet and provided a seed phrase.
These phishing emails, shared on April 1, urged recipients to withdraw their funds into a specified crypto wallet to protect their assets. This was an attempt to deceive users into transferring their cryptocurrencies to wallets controlled by scammers.
“Do not follow these directions. Please retweet to protect those that may have been doxxed and sent this email,” wrote Jason Williams, a contributor to Fox Business.
The deceptive emails alleged a substantial loss of $1.2 billion by Gemini Exchange. Understandably, some novice investors would heed this email and even move their assets to the address. After all, some victims of FTX Exchange contagion continue to pursue their funds even years after the incident.
“I got one also. It is better than your typical ‘Coin Base’ one, but still not quite there. Might fool a boomer though,” one X user remarked.
However, security experts advise users to always verify information through official channels, avoid clicking on unsolicited links, and refrain from sharing personal data. Gemini issued an official warning in response to the scam, acknowledging the threat against its users.
“We recently learned that some Gemini customers are being targeted with scam emails requesting users to transfer their crypto to outside wallets. Please be aware that Gemini will never request that you send crypto to outside wallets,” the exchange articulated.
Coinbase Admits Employee Illegally Accessed User Account Data
Coinbase exchange acknowledged a privacy violation by one of its staff in a somewhat related development. Specifically, a customer service employee accessed user account information without authorization.
This breach has raised concerns about potential scams targeting Coinbase users. Mike Dudas, a crypto investor and co-founder at The Block, shared an email from Coinbase acknowledging the incident.
“That explains the fake Coinbase phishing emails and phone calls today,” he stated.
This breach coincides with reports of phishing attempts, as users have received fake emails and calls purporting to be from Coinbase. These incidents reflect a broader wave of crypto-related fraud.
Blockchain investigator ZachXBT reported that Coinbase users lost over $65 million to social engineering scams between December 2024 and January 2025.
“Coinbase did not detect it; I sent them the intel,” the blockchain investigated noted.
Additionally, crypto analyst Cobie suggested Kraken might be experiencing a similar issue. Per his post, a new attack may be budding, where attackers infiltrate customer service roles to exfiltrate data.
“Kraken also recently hit with this too. Maybe a new scheme from attackers (get a CS agent employee in, exfil data),” the analyst remarked.
Amidst these events, ZachXBT recently explained how to avoid crypto scams. He emphasizes the importance of conducting thorough research before engaging with new DeFi protocols, especially those forked from existing projects on newly launched EVM chains.
Bitcoin has faced notable volatility in recent days, with strong market growth on Sunday, followed by a complete wipeout on Monday.
Despite these fluctuations, the hope for a recovery remains, fueled by FOMO (fear of missing out) and greed-driven investors. These sentiments could play a crucial role in Bitcoin’s price movement.
Bitcoin Investors Are Bullish
The continued decline in exchange balances signals a pattern of accumulation. Over the past week, more than 27,976 BTC, worth over $2.88 billion, was purchased by investors. This has reduced the available supply to approximately 3 million BTC.
The idea that Bitcoin has not yet reached its all-time high (ATH) encourages further investment, as many believe the current price levels represent an opportunity that won’t last long. FOMO remains a significant driver, as retail and institutional investors alike bet on Bitcoin’s future potential.
The IOMAP (In/Out of the Money Around Price) indicator suggests that Bitcoin has strong support around the $102,886 to $99,894 range, where investors have accumulated over 398,590 BTC worth more than $41 billion. This makes the region a strong buying zone, with many investors holding onto their positions in anticipation of Bitcoin’s next upward movement.
A decline below this support is unlikely because investors are waiting for a price increase rather than selling. In addition to the strong accumulation zone, the general market sentiment is bullish. The ongoing support at these levels reinforces the view that Bitcoin is positioned to continue its rise.
Bitcoin is currently trading at $102,907, just above the critical $102,734 support level. Despite today’s 3.3% drop, further price declines seem unlikely due to the strong demand zone just below this level. Buyers appear willing to step in at these price points, suggesting stability in the short term.
With Bitcoin having briefly risen to $107,108 earlier in the day, it seems likely the cryptocurrency will recover its losses. Investor accumulation is expected to push Bitcoin higher, and it could breach the $105,000 level again, forming consolidation above the $102,734 support. This would set Bitcoin on course for continued growth, bringing it closer to its ATH of $109,588, which it stands 6.5% away from.
However, the bullish outlook could be invalidated if long-term holders (LTHs) decide to sell off their positions to secure profits. If this happens, Bitcoin’s price could slip below the critical $102,734 support, potentially bringing it down to the $100,000 range.
BNB (@cz_binance) 
