Hey, crypto fam!
It’s the final weekend roundup for April—how time flies, right? A number of interesting events went down this week that you definitely shouldn’t miss, and you know we’ve got you covered as always. From Coinbase stacking legal wins to SEC transparency battles, ZKSync recovering 90% of its stolen tokens, and some juicy courtroom drama—it’s been a week! Catch up on all the action, stay informed, and don’t forget to hit that subscribe button.
Let’s dive in!
Biggest Story
Coinbase Battles Regulators, Scores Legal Wins Amid Transparency Push
Coinbase has secured a key legal victory as Alabama dropped its enforcement action against the exchange’s staking program, reducing the number of participating states to five. This move follows similar withdrawals by Vermont, South Carolina, and Kentucky, signalling growing hesitation among regulators to pursue staking-related lawsuits. Coinbase’s Chief Legal Officer, Paul Grewal, hailed the development as “another win,” urging the remaining states to rethink their positions and advocating for a unified federal regulatory framework to replace fragmented state-level actions.
Meanwhile, Coinbase continues its broader fight for regulatory clarity, recently securing internal SEC documents related to Ethereum 2.0 after a FOIA lawsuit. These materials revealed that no charges were filed, challenging the SEC’s inconsistent approach to digital assets. Coinbase also sued both the SEC and the FDIC for withholding records tied to crypto enforcement actions. Amid these legal battles, the company faced backlash over Base’s promotion of a volatile memecoin, highlighting ongoing debates around responsibility and oversight in Web3.
Other News Making Waves
U.S. prosecutors submitted over 200 emotional victim statements ahead of Alex Mashinsky’s sentencing, spotlighting the devastating impact of Celsius Network’s collapse. Mashinsky, who pleaded guilty to fraud, faces up to 30 years, but his lawyers are pushing for just over a year. (More)
The LAPD busted a high-profile heist at LAX, recovering $2.7 million in stolen Bitcoin mining rigs en route to Hong Kong. (More)
ZKSync managed to claw back 90% of $5 million in stolen tokens after a hacker exploited a minting vulnerability. In a twist, the attacker accepted a 10% bounty and returned most of the loot. (More)
Yuga Labs is going after influencers’ crypto wallets, demanding $400K in a BAYC NFT lawsuit over unauthorised commercial use. (More)
Trump shuts down rumours of firing Fed Chair Powell, though he still wants faster interest rate cuts. Meanwhile, Fed Governor Waller pushes for tighter stablecoin regulations to strengthen the U.S. dollar. (More)
The SEC has sued a crypto executive for allegedly running a $198M Ponzi-style scheme, misleading investors with false claims and misusing funds. (More)
A federal judge just moved Binance’s money laundering case to Florida, citing overlap with an earlier lawsuit. Despite protests from plaintiffs, the decision could streamline proceedings involving stolen crypto and Binance’s role. (More)
Perplexity AI is stepping into the spotlight as a witness in the DOJ’s antitrust case against Google, claiming unfair competition in the search market. (More)
Solana DEX Meteora is hit with a class-action lawsuit, as investors allege a $69M insider-led $M3M3 token pump-and-dump. (More)
Paul S. Atkins is sworn in as the SEC’s 34th Chairman, marking his return to the agency with a vow to champion investor protection and innovation. (More)
Around the World: Bold Moves and Crypto Regulations
New Hampshire’s Bitcoin reserve bill cleared another hurdle, bringing the state closer to holding BTC and precious metals in its treasury. If passed, NH would join just two other U.S. states experimenting with digital asset reserves. (More)
Russia plans to launch a crypto exchange exclusively for “super-qualified investors,” aiming to regulate digital trading under a tight experimental regime. (More)
Malaysia just tapped Binance founder CZ to lead a nationwide blockchain finance overhaul, aiming to modernize financial systems and attract foreign investment. (More)
The Philippines’ SEC has kicked off StratBox, a regulatory sandbox for crypto service providers to test new innovations under supervision. (More)
France’s central bank is sounding the alarm over Trump’s stablecoin push, warning it could sabotage Europe’s monetary sovereignty. (More)
El Salvador is partnering with NVIDIA to launch its first AI Lab, driving local innovation in weather prediction, education, and economic planning. (More)
A landmark Aussie court ruling clears crypto lender Block Earner of licensing violations, handing a major loss to regulator ASIC. (More)
Market Trends: Winners and Losers
Top 5 Gainers 📈
According to data from CoinGecko, these are the five biggest gainers of the week:
- Zerebro +286.8%, from $0.02010467 to $0.077743
- Neiro on ETH +236.7%, from $0.01864617 to $0.062787
- Treasure USD +176.4%, from $0.071063 to $0.196511
- Turbo +147.8%, from $0.00187132 to $0.00463921
- AGENDA 47 +64.7%, from $0.01155723 to $0.01903013
Top 5 Losers 📉
According to data from CoinGecko, the five biggest losers of the week are:
- ArbDoge -68.7%, from $0.000000000378779 to $0.000000000118426
- PumpBTC -44.9%, from $0.163622 to $0.090219
- Bella Protocol -36.3%, from $0.614041 to $0.391370
- VICE -27.9%, from $0.078162 to $0.056385
- IQ -18.4%, from $0.00535330 to $0.00436675
Project Spotlight
Circle Launches Payments Network to Revolutionize Cross-Border Transactions
Circle has introduced the Circle Payments Network (CPN), a global system designed to streamline cross-border payments using regulated stablecoins like USDC and EURC. The network connects financial institutions, enabling real-time, low-cost, and compliant money transfers, solving long-standing issues of slow settlement times and high fees in international transactions. With backing from major banks and a compliance-first framework, CPN supports use cases like remittances, payroll, and B2B payments.
Why It Matters:
The Circle Payments Network (CPN) matters because it modernizes cross-border transactions by enabling real-time, low-cost settlements with stablecoins like USDC and EURC. By prioritising speed, transparency, and regulatory compliance, CPN offers a scalable, global alternative to outdated payment rails, especially benefiting emerging markets and developers building next-gen financial tools.
Disclaimer: This article is intended solely for informational purposes and should not be considered trading or investment advice. Nothing herein should be construed as financial, legal, or tax advice. Trading or investing in cryptocurrencies carries a considerable risk of financial loss. Always conduct due diligence.
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