Scott Melker hosted a recent interview featuring Andrew Parish from Arch Public, Eleanor Terrett from Crypto America, and Attorney John Deaton, as they discussed the latest shifts in crypto regulation and market trends. The spotlight was on SEC’s changing stance under new leadership, the approval of Bitcoin ETFs, and the growing institutional interest in crypto.
The Significance Of Hidden Road Acquisition
Deaton views Ripple’s acquisition of HiddenRoad as an important example of how traditional finance is blending with decentralized finance (DeFi).
Ripple recently agreed to acquire Hidden Road, a prime brokerage firm, for $1.25 billion, marking a major move in the digital asset industry. Hidden Road, now approved by FINRA as a U.S. broker-dealer, allowing it to expand into areas like clearing and prime brokerage.
This deal will help Ripple grow its presence in the financial industry and offer more services to big financial players. The deal is expected to close in the coming months, pending regulatory approval.
He points out that institutions and banks, which once saw DeFi as a threat, are now figuring out how to take advantage of it. He also notes that Bitcoin and XRP stayed stable, even with issues like trade wars, thanks to growing institutional support
“There’s always risk, but I just don’t see how you can’t be bullish on several of these big tokens like XRP and BTC,” he said.
They also discussed the rising institutional interest in digital assets, especially Bitcoin. The approval of Bitcoin ETFs was highlighted as a major milestone for crypto’s mainstream adoption. Deaton said that Bitcoin adoption by public companies has tripled, from 30 companies three years ago to 94 now.
India’s leading crypto exchange WazirX is gearing up for a comeback after being rocked by a massive $234 million hack in July 2024. The exchange recently confirmed it’s ready to resume operations, with a crucial hearing scheduled for May 13, 2025, in the High Court of Singapore.
FAQ: What’s the current update on the restart of WazirX operations?
A: We understand the eagerness around the platform restart and truly appreciate your continued patience. Since the beginning, we have communicated that the First Distribution and restart would occur within the… pic.twitter.com/VJtfX4EBLh
— WazirX: India Ka Bitcoin Exchange (@WazirXIndia) April 21, 2025
The upcoming hearing will decide the fate of WazirX’s proposed restructuring and user compensation plan. A favorable ruling could end a nearly year-long wait for thousands of affected users and clear the way for the platform’s return.
The Lazarus Group Connection
The July 2024 exploit was linked to North Korea’s infamous Lazarus Group and specifically targeted WazirX’s Safe Multisig wallet. Following the attack, the exchange had to suspend all crypto and fiat withdrawals. It remains one of the largest hacks in India’s crypto history and sent shockwaves through the local digital asset ecosystem.
Recovery Plan: Tokens, Payouts, and a 10-Day Timeline
If the court gives the green light, WazirX’s parent company, Zettai PTE Ltd, will resume operations within 10 business days. The recovery plan includes distributing recovery tokens to compensate users, with over 90% of creditors already voting in favor.
The plan aims to restore between 75-80% of user funds using profits from future operations.
Legal Setback for Indian Users
While things move forward in Singapore, victims in India hit a roadblock. The Supreme Court of India recently dismissed a petition filed by 54 victims of the hack. The petition sought legal action against WazirX, its founder Nischal Shetty, Binance, and custody partner Liminal. The court stated the issue falls under broader crypto policy and advised petitioners to approach regulatory bodies instead.
Exchange Sticks to April–May Relaunch Timeline
WazirX has consistently maintained that its restart and first round of compensation will take place between April and May 2025. Most of the groundwork is already in place, and with just the court’s approval pending, the exchange appears poised for a fresh start.
A positive outcome in Singapore could mark the official return of WazirX – restructured, more secure, and focused on user recovery. The platform’s comeback will be closely watched, not just as a test of its resilience, but as a case study in how exchanges can bounce back after major security failures.
Never Miss a Beat in the Crypto World!
Stay ahead with breaking news, expert analysis, and real-time updates on the latest trends in Bitcoin, altcoins, DeFi, NFTs, and more.
The post WazirX News: Relaunch Soon? Key Court Hearing Nears After $234M Hack appeared first on Coinpedia Fintech News
India’s leading crypto exchange WazirX is gearing up for a comeback after being rocked by a massive $234 million hack in July 2024. The exchange recently confirmed it’s ready to resume operations, with a crucial hearing scheduled for May 13, 2025, in the High Court of Singapore. FAQ: What’s the current update on the restart …
Hyperliquid (HYPE) is under pressure, down 16% over the past seven days as technical indicators increasingly point toward bearish control. Momentum has weakened sharply, with the Relative Strength Index (RSI) dropping below 40 and showing no signs of strong buying interest since late March.
At the same time, the Directional Movement Index (DMI) shows sellers gaining dominance, with a rising ADX suggesting a potential strengthening of the downtrend. As HYPE approaches key support levels, the market now waits to see if bulls can mount a recovery—or if further downside is ahead.
The ADX measures the strength of a trend regardless of its direction. Readings below 20 typically indicate a weak or range-bound market, while values above 25 suggest the presence of a strong trend.
With the current ADX moving closer to that 25 threshold, it suggests that trend strength is building—but hasn’t fully confirmed yet—indicating that traders should be on alert for potential continuation in price action.
Meanwhile, the +DI and -DI lines, which represent bullish and bearish directional movement, respectively, have shifted significantly.
The +DI has dropped sharply from 25.68 to 12.79, while the -DI has surged from 11.29 to 23.4, indicating that bearish momentum has clearly overtaken bullish pressure. This shift suggests that sellers are gaining control of the market, and unless the +DI line can reverse and regain ground, HYPE could be at risk of further downside.
Hyperliquid has seen its Relative Strength Index (RSI) fall significantly over the past two days, dropping from 63.03 to 39.39.
The RSI is a momentum oscillator that measures the speed and magnitude of recent price changes, ranging from 0 to 100.
Readings above 70 typically indicate that an asset is overbought and may be due for a correction, while readings below 30 suggest it is oversold and could be primed for a rebound. Levels between 30 and 70 are considered neutral, but directional shifts within this range often reflect changing momentum.
With HYPE’s RSI now sitting at 39.39, the indicator suggests weakening bullish momentum and growing bearish pressure. The fact that the RSI hasn’t touched or exceeded the 70 mark since March 24 signals a lack of strong buying conviction in recent weeks.
This would align with the recent drop in momentum indicators like the RSI and the growing bearish pressure seen in directional movement data.
However, if buyers manage to step in and shift momentum, HYPE could attempt to reclaim higher levels. A break above the immediate resistance at $12.19 would be the first sign of recovery, potentially opening the door for a move toward $14.77.
If bullish momentum accelerates, the rally could extend as far as $17.33, which would mark a full reversal of the current bearish structure.
According to a CoinGecko report, meme coins were the most popular crypto trend in 2024. They accounted for 14.3% of total narrative interest—a significant rise from 8.3% in 2023.
Recent developments, however, present a contrasting narrative.
“There has been a significant drop in meme coin market cap since December. It’s the weakest narrative and not worth putting your money in it,” an analyst wrote on X.
As of March 5, the latest data showed the total meme coin market capitalization plummeted to $54 billion. This represented a 56.8% decline from its $125 billion peak on December 5, 2024.
Trading volumes have also taken a hit, dropping 26.2% in the past month alone. This has raised concerns about the “meme coin supercycle.”
“Is this the end of the meme coin supercycle?” crypto analyst Lark Davis questioned.
A meme coin supercycle refers to an extended period of rapid growth and speculation in meme-based cryptocurrencies. However, with declining numbers across the board, the community is now grappling with fears that the hype may be fading for good.
The second-largest meme coin, Shiba Inu (SHIB), has also suffered a substantial drop. Over the past month, it has slipped 10.6%. Similar trends have been observed in all 10 top meme coins.
The decline isn’t just affecting individual tokens—skepticism in meme coins as a whole appears to be rising. Elon Musk, for example, one of the most vocal supporters of DOGE, recently likened meme coins to “casinos.” He further cautioned against investing life savings in them. Meanwhile, Bitwise CIO Matt Hougan previously stated that the present time is the “end of the meme coin boom.”
Google Trends data further supports this waning hype. The search volume for “meme coin” has plummeted from a peak score of 100 in mid-January to just 8 last week. This suggested that public enthusiasm was fading as fast as it surged.
The impact of this downturn is being felt across the ecosystem, particularly on platforms that thrived during the meme coin mania.
Pump.fun, a popular meme coin launchpad, has seen its trading volume crash from $3.3 billion in January 2025 to just $814 million. This marked aa staggering 75.3% drop.
