The cryptocurrency sector maintained its rebound over the past week as the overall crypto market capitalization exceeded the $3 trillion threshold for the initial time since early March.<\/p>\n
Bitcoin (BTC<\/a>) ascended to a high of $97,300, not seen in over two months, just before the announcement of the \u201cLiberation Day\u201d tariffs in the United States, enhancing analyst forecasts for a surge powered by \u201cstructural\u201d institutional and exchange-traded fund (ETF) investments into the premier cryptocurrency.<\/p>\n Investor risk appetite continued to rise as state-associated Chinese news organizations suggested that the Trump administration has discreetly contacted Beijing to negotiate tariff reductions.<\/p>\n In the broader crypto ecosystem, Ethereum developers introduced a new token standard aimed at enhancing the interoperability of the world\u2019s second-largest blockchain network.<\/p>\n Bitcoin\u2019s growing institutional acceptance might offer the \u201cstructural\u201d inflows required to surpass gold\u2019s market value and elevate its price above $1 million by 2029, as stated by Bitwise’s European research director, Andr\u00e9 Dragosch.<\/p>\n \u201cOur internal forecast is $1 million by 2029, which would align Bitcoin’s market cap with gold’s total addressable market by that time,\u201d he conveyed to Cointelegraph during the Chain Reaction daily X spaces show<\/a> on April 30.<\/p>\n Gold currently stands as the world\u2019s most significant asset, valued at over $21.7 trillion. In contrast, Bitcoin\u2019s market capitalization is at $1.9 trillion, positioning it as the seventh-largest asset worldwide, according<\/a> to CompaniesMarketCap data.<\/p>\n For the 2025 market cycle, Bitcoin could exceed $200,000 in the \u201cbase case\u201d and rise to $500,000 with additional government engagement, Dragosch indicated.<\/p>\n Continue reading<\/strong><\/a><\/p>\n MGX, an investment firm based in Abu Dhabi, will employ a stablecoin associated with US President Donald Trump\u2019s family to finalize a $2 billion investment in Binance, the largest cryptocurrency exchange globally.<\/p>\n The World Liberty Financial USD<\/a> (USD1), a US dollar-pegged stablecoin, was introduced by the Trump-related crypto platform World Liberty Financial (WLFI) in March 2025.<\/p>\n MGX intends to use the USD1 stablecoin for its $2 billion investment in Binance, as announced by Eric Trump during a panel at Token2049 in Dubai. Trump, who is the president’s son, holds the position of executive vice president of the Trump Organization.<\/p>\n MGX declared its<\/a> investment in Binance on March 12, representing the first institutional funding into the exchange and one of the largest financing agreements in the Web3 sector.<\/p>\n At that time, Binance declined Cointelegraph\u2019s request to disclose which stablecoin was employed in the deal.<\/p>\n This signifies the Abu Dhabi-based investment firm’s initial foray into the cryptocurrency landscape.<\/p>\n Continue reading<\/strong><\/a><\/p>\n Developers for Ethereum are striving to enhance blockchain interoperability with two novel token standards: ERC-7930 and ERC-7828.<\/p>\n \u201cThere is currently no standard methodology for wallets, applications, or protocols to interpret or present this information,\u201d decentralized finance (DeFi) ecosystem<\/a> development organization Wonderland expressed in a May 1 X post<\/a>. Wallets, decentralized applications (DApps)<\/a>, blockchain explorers, and smart contracts follow varying protocols.<\/p>\n \u201cThe outcome? A disorganized, inconsistent experience that disrupts crosschain user experience,” Wonderland pointed out.<\/p>\n Wonderland is a collective of developers, researchers, and data scientists focused on enhancing the Ethereum DeFi ecosystem. The organization collaborated<\/a> with several DeFi protocols, including Optimism, Aztec, Connext, and Yearn.<\/p>\n In their post, the organization shared what was discussed<\/a> in a recent Ethereum Foundation interoperability working group call. Teddy<\/a> from Wonderland explained that they aim to finalize both token standards within the next two weeks. He added:<\/p>\n \u201cWe urgently require feedback on the ETH-Magicians forum.\u201d<\/p><\/blockquote>\n Continue reading<\/strong><\/a><\/p>\n Cryptocurrency cybercriminals took more than $90 million in April, striking another blow to the sector\u2019s mainstream image despite sustained efforts to enhance cybersecurity.<\/p>\n Criminals made away with $92 million of digital assets across 15 incidents in April, as stated in an April 30 research report by blockchain security firm Immunefi.<\/p>\n This total signifies a 124% increase month-over-month from March, when criminals appropriated $41 million.<\/p>\n The most significant breach of the month occurred on the open-source platform UPCX, accounting for a majority of the losses in April, with over $70 million<\/a> in damages, while KiloEx suffered a loss of $7.5 million<\/a> as the second-largest breach in April.<\/p>\n The KiloEx exploiter returned<\/a> the misappropriated funds just days following the incident.<\/p>\n All reported attacks in April targeted decentralized finance (DeFi) platforms. The report indicated that centralized exchanges reported no incidents during the month.<\/p>\n Immunefi, which claims to safeguard $190 billion in user assets, has disbursed over $116 million in rewards to white-hat hackers.<\/p>\n Continue reading<\/strong><\/a><\/p>\n The cryptocurrency lobbying organization, the DeFi Education Fund, has formally requested the Trump administration to terminate what it described as the “unlawful prosecution” of open-source software engineers, including Roman Storm, a developer of the crypto mixing service Tornado Cash.<\/p>\n In an April 28 letter<\/a> to the White House’s crypto chief David Sacks<\/a>, the group urged President Donald Trump \u201cto take swift measures to halt the Biden-era Department of Justice’s unlawful campaign to criminalize open-source software creation.\u201d<\/p>\n The letter specifically pointed out Storm’s prosecution, who faced charges<\/a> in August 2023 for allegedly laundering over $1 billion in crypto via Tornado Cash. His trial is still scheduled for July<\/a>, and his co-founder, Roman Semenov, is currently at large and thought to be in Russia.<\/p>\n The DeFi Education Fund argued that in Storm\u2019s case, the Department of Justice is attempting to hold software engineers<\/a> criminally accountable for how others utilize their code, which is \u201cnot just ridiculous in theory, but it sets a precedent that could potentially inhibit all crypto development in the United States.\u201d<\/p>\n The organization also called for acknowledgment that the prosecution contradicts the Treasury Department\u2019s Financial Crimes Enforcement Network (FinCEN) guidance from Trump\u2019s initial term, which clarified that developers of self-custodial, peer-to-peer protocols are not classified as money transmitters.<\/p>\n \u201cThis type of legal atmosphere not only stifles innovation \u2014 it freezes it,\u201d they contended. The letter added that it also \u201cempowers enforcement driven by political motivation and places every open-source developer in jeopardy, regardless of sector.\u201d<\/p>\n In January, a federal court in Texas concluded that the Treasury overstepped its jurisdiction<\/a> by sanctioning Tornado Cash.<\/p>\n Continue reading<\/strong><\/a><\/p>\n Based on data from Cointelegraph Markets Pro<\/a> and TradingView, most of the 100 largest cryptocurrencies by market cap finished the week positively.<\/p>\nBitcoin reaching $1 million by 2029 propelled by ETF and government interest \u2014 Bitwise executive<\/h2>\n
Eric Trump: USD1 to be utilized for $2 billion MGX investment in Binance<\/h2>\n
Ethereum to streamline crosschain transactions with new token standards<\/h2>\n
Crypto attackers targeted DeFi for $92 million in April as assaults doubled
\n“““html<\/p>\nfrom March<\/h2>\n
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\n <\/figcaption><\/figure>\nCrypto group urges Trump to cease prosecutions of crypto developers, Roman Storm<\/h2>\n
\n <\/figcaption><\/figure>\nDeFi market analysis<\/strong><\/h2>\n