The Synthetix protocol’s native stablecoin, Synthetix USD (SUSD), has slipped further away from its US dollar peg, reaching new all-time lows under $0.70. However, the firm reiterates that this isn’t the first time the asset has been under significant stress, and several risk measures are in place.“Synthetix and sUSD have weathered multiple bear markets and periods of stablecoin volatility; this is not the first resilience test,” a spokesperson from Synthetix told Cointelegraph.SUSD down almost 31% from its intended 1:1 pegsUSD is a crypto-collateralized stablecoin. Users lock up SNX tokens to mint sUSD, making its stability highly dependent on the market value of Synthetix (SNX). At the time of publication, sUSD (SUSD) is trading at $0.70, 30% below its intended 1:1 peg with the US dollar, according to CoinMarketCap data.sUSD reached as low as $0.66 before rebounding to $0.70 at the time of publication. Source: CoinMarketCapDuring the same period, SNX has held relatively […]

There has been a 66% year-on-year decrease in the number of crypto rug pulls this year compared to 2024, but recent data shows the size of each rug pull has been increasing. Rug pulls have dropped in frequency year-over-year, with early 2024 recording 21 separate incidents, compared to only seven so far in 2025, according to an April 16 report from blockchain analytics platform DappRadar.However, since the beginning of 2025, the Web3 ecosystem has lost nearly $6 billion to rug pulls, according to DappRadar’s report. However, the report attributes 92% of that to Mantra’s OM token collapse, which the founders have strongly denied was a rug pull.In comparison, during the same period in early 2024, three months into the year, total losses from rug pulls hit $90 million.“This shift suggests that rug pulls are becoming less frequent, but far more devastating when they do occur,” DappRadar analyst Sara Gherghelas said. “The scams are increasingly sophisticated, often orchestrated […]

Crypto exchange Binance is remodeling its attitude toward regulation, flipping the script on its former notoriety as a pain in the neck of sorts to a role as an insider policy adviser to governments worldwide. The organization currently advises governments in several countries on crypto policy, recent quotes by CEO Richard Teng report. Related Reading:

Bitcoin’s recent price action has shown signs of stagnation, with the asset hovering around the $84,000 mark after rebounding above it earlier this week. As of the time of writing, BTC is trading at $84,449, down 0.7% in the past 24 hours. Despite recovering from previous corrections, the price has struggled to break through the current resistance level, signaling weak buying momentum and cautious sentiment among traders. Related Reading: Bitcoin At $1 Million? BPI Says One US Move Could Make It Happen Bitcoin STH-SOPR and Realized Price Indicate Capitulation The current phase of consolidation follows weeks of volatile swings driven by broader macroeconomic uncertainty and mixed signals across risk assets. While long-term holders remain steady, short-term participants in the market appear to be under pressure. Insights into the behavior of these short-term holders may offer valuable clues on the overall direction of the market and possible entry or exit points for investors. […]

Manta Network co-founder Kenny Li says he was targeted by a highly sophisticated phishing attack on Zoom that used live recordings of familiar people in an attempt to have him download malware. The meeting seemed real with the impersonated person’s camera on, but the lack of sound and a suspicious prompt to download a script raised red flags, Li said in an April 17 X post.“I could see their legit faces. Everything looked very real. But I couldn’t hear them. It said my Zoom needs an update. But it asked me to download a script file. I immediately left.”Li then asked the impersonator to verify themselves over a Telegram call, however, they didn’t comply and proceeded to erase all messages and block him soon after.Source: Kenny LiLi believes the North Korean state-backed Lazarus Group was behind the attack.The Manta Network co-founder managed to screenshot his conversation with the attacker before the messages were deleted, where Li initially suggested moving the call over to […]

American film producer, record executive and art collector David Geffen has hit back at crypto entrepreneur Justin Sun in a countersuit disputing ownership claims over a multimillion-dollar sculpture.The billionaire American media mogul filed a counterclaim against Sun on April 16, calling the Tron founder’s suit a “sham” and adding claims of “unethical and/or illegal business activities.”Sun sued Geffen in February, claiming that the statue was stolen from him by a former employee who then sold the artwork to Geffen in a deal worth around $65 million in artwork and cash.Sun purchased the Alberto Giacometti sculpture titled “Le Nez” at a Sotheby’s auction in 2021 for $78 million, working with the assistance of his former art adviser, Xiong Zihan Sydney.In the 100-page countersuit, Geffen claims that Sun and Xiong “contrived this fraudulent lawsuit” after they couldn’t profitably sell two paintings that Geffen had exchanged for the sculpture, along with $10.5 […]

Dogecoin started a fresh decline from the $0.1680 zone against the US Dollar. DOGE is consolidating and might extend losses below the $0.150 support. DOGE price started a fresh decline below the $0.1620 and $0.1580 levels. The price is trading below the $0.1600 level and the 100-hourly simple moving average. There is a short-term rising channel or a bearish flag forming with support at $0.1540 on the hourly chart of the DOGE/USD pair (data source from Kraken). The price could extend losses if it breaks the $0.1520 support zone. Dogecoin Price Turns Red Dogecoin price started a fresh decline after it failed to clear $0.1680, like Bitcoin and Ethereum. DOGE dipped below the $0.1620 and $0.1600 support levels. The bears were able to push the price below the $0.1550 support level. It even traded close to the $0.1500 support. A low was formed at $0.1504 and the price recently corrected some losses. There was a minor move above the 23.6% Fib retracement level of the downward move from the […]

Dogecoin’s latest price formations suggest that an early-stage recovery might be underway, supported by signals on both short-term and mid-term timeframes. A close look at the chart activity shows technical setups that has historically led to strong breakouts. The observations come from crypto analyst Trader Tardigrade, who recently shared two updates based on patterns forming

Yemeni citizens are increasingly using decentralized finance (DeFi) protocols to bank themselves amid US sanctions aimed at the Houthi group, which they have deemed a terrorist organization. In the past, internet infrastructure challenges and low financial literacy among the war-torn population contributed to relatively limited crypto adoption, according to an April 17 report from blockchain intelligence firm TRM Labs.“However, there are signs of growing interest and usage driven primarily by necessity rather than speculation,” the blockchain intelligence firm said. “For those who use cryptocurrencies in Yemen, the ability to bypass the disruption in local financial services offers a modicum of financial resilience, especially as banks can be difficult to access or are simply inoperable due to the ongoing conflict.” Yemen has been in a civil war between the government and the Houthi group since September 2014. The US has also frequently sanctioned financial infrastructure […]

Bitcoin’s relatively stable price movements despite macroeconomic uncertainty is likely due to resilient spot Bitcoin ETF holders and Michael Saylor’s firm continuing to buy aggressively, according to a Bloomberg analyst.“The ETFs and Saylor have been buying up all ‘dumps’ from the tourists, FTX refugees, GBTC discounters, legal unlocks, govt confiscations and Lord knows who else,” Bloomberg ETF analyst Eric Balchunas said in an April 16 X post.Bitcoin ETF holders hold despite market volatilityBalchunas pointed out that spot Bitcoin (BTC) ETFs have attracted $131.04 million over the past 30 days and are up $2.4 billion since Jan. 1. Balchunas called this “impressive,” noting it helps explain why Bitcoin has “been relatively stable.”“Its owners are more stable,” Balchunas said. Balchunas said Bitcoin ETF investors have “much stronger hands than most people think.” He said this “should” increase the stability and lower Bitcoin’s volatility and […]

Bitcoin appears to be entering a period of consolidation following a brief burst of upward momentum earlier this week. After reaching nearly $86,000, the cryptocurrency has retraced slightly and is trading around $84,650 at the time of writing. Despite the pullback, analysts continue to monitor on-chain data to assess whether renewed buying pressure could support a more sustained recovery. One of those analysts, CryptoQuant contributor Avocado Onchain, recently shared his insights in a post titled “Coinbase Premium Signals Signs of Recovery Amid Market Turmoil, While Korea Premium Index Remains Lagging.” Avocado noted that escalating trade tensions between the US and China have added volatility to global markets, including Bitcoin. As gold rallies in response to the risk-off environment, Bitcoin has managed to hold above a critical support level after undergoing a more than 30% correction. Related Reading: Bitcoin Sentiment Still Close To Extreme Fear—Green Sign For Recovery? […]

XRP price started a fresh decline below the $2.120 zone. The price is now consolidating above $2.00 and remains at risk of more losses below $2.00. XRP price started a fresh decline below the $2.150 zone. The price is now trading below $2.120 and the 100-hourly Simple Moving Average. There is a key bearish trend line forming with resistance at $2.10 on the hourly chart of the XRP/USD pair (data source from Kraken). The pair might extend losses if there is a close below the $2.00 support zone. XRP Price Dips Again XRP price started another decline below the $2.20 zone, like Bitcoin and Ethereum. The price traded below the $2.150 and $2.120 levels to enter a bearish zone. The price even spiked below $2.050 before the bulls appeared. A low was formed at $2.036 and the price is now consolidating losses. There was a minor increase above the $2.10 level. However, the bears were active near the 50% Fib retracement level of the downward move from the $2.184 swing high to the $2.036 low. The […]

A top crypto asset manager has doubled up on its backing of Dogecoin, asserting the meme coin is more than a joke due to its provision of actual utility. The company recently pointed to Dogecoin’s community orientation, speed of transactions, and low costs as important benefits in the cryptoverse. Related Reading: From Courtroom To Crypto:

Ethereum price started a fresh decline below the $1,620 zone. ETH is now consolidating and might attempt to recover above the $1,620 resistance. Ethereum started a fresh decline below the $1,620 and $1,600 levels. The price is trading below $1,620 and the 100-hourly Simple Moving Average. There was a break above a connecting bearish trend line with resistance at $1,590 on the hourly chart of ETH/USD (data feed via Kraken). The pair could start a fresh increase if it clears the $1,615 resistance zone. Ethereum Price Faces Hurdles Ethereum price struggled to continue higher above $1,690 and started a fresh decline, like Bitcoin. ETH declined below the $1,600 and $1,580 support levels. It even spiked below $1,550. A low was formed at $1,538 and the price is now attempting a recovery wave. There was a move above the $1,580 level. The price climbed above the 23.6% Fib retracement level of the downward move from the $1,690 swing high to the $1,538 low. Besides, there was a break above a […]

Crypto research firm Galaxy Research has made a proposal to adjust the voting system that decides the outcome of future Solana inflation following the failure to come to a consensus in a previous vote.On April 17, Galaxy introduced a Solana proposal called “Multiple Election Stake-Weight Aggregation” (MESA) to reduce the inflation rate of its native token, SOL (SOL). The researchers described the proposal as a “more market-based approach to agreeing on the rate of future SOL emissions.”Rather than using traditional yes/no voting for inflation rates, MESA allows validators to vote on multiple deflation rates and uses the weighted average as the outcome.“Instead of cycling through inflation reduction proposals until one passes, what if validators could allocate their votes to one or many changes, with the aggregate of ‘yes’ outcomes becoming the adopted emissions curve?” Galaxy explained.  The motivation for the concept comes from a previous proposal (SIMD-228), which […]