Crypto Weekly Recap: Bitcoin Dips, Gold Soars, and SEC Faces Shakeup
Major ETF outflows, geopolitical tensions, and regulatory shifts dominate the crypto landscape this week
🪙 Crypto Market Snapshot: Calm Amid Chaos
Despite major news reverberating through the financial world, the crypto market remained relatively stable, holding a total market cap of $2.7 trillion. However, daily trading volume plunged by over 21%, settling at $43.09 billion.
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Bitcoin is trading at $85,300
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Ethereum stands at $1,604
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XRP hovers around $2.08
📉 Top Crypto Headlines This Week
1. Bitcoin Drops as U.S.-China Trade War Heats Up
A 245% tariff on Chinese imports led to a 2% drop in Bitcoin’s price, and a 3.75% decline in the overall crypto market. Meanwhile, gold surged to an all-time high of $3,300, signaling a shift to traditional safe-haven assets.
2. SEC Leadership Drama: Paul Atkins Bows Out
Just weeks after confirmation, new SEC Chair Paul Atkins will miss the April 25 roundtable on crypto custody. Acting Chair Mark Uyeda will now lead discussions with major players like Kraken, Fidelity, and Anchorage.
3. Trump vs Powell: Stagflation Debate Shakes Markets
Fed Chair Jerome Powell’s stagflation warnings, linked to the tariffs, caused ripples across markets. Donald Trump fired back, criticizing Powell’s delayed rate cuts—injecting political friction into an already tense financial environment.
📊 ETF and Legal Moves
4. Bitcoin ETF Outflows Skyrocket 300%
Data from SoSo Value shows $700 million in Bitcoin ETF outflows this week, highlighting waning institutional confidence amid mounting trade tensions.
5. Ripple Lawsuit Paused: Settlement on the Horizon?
In a surprise development, the Ripple-SEC lawsuit was paused for 60 days—potentially to allow for settlement talks. Meanwhile, Ripple acquired Hidden Road for $1.25 billion, signaling its global expansion ambitions.
📜 Regulation and Exchange Updates
6. Binance Enforces Stricter KYC in India
To comply with anti-money laundering (AML) rules, Binance now requires Indian users to re-verify KYC using their PAN cards. The exchange also pledged better data handling protocols.
7. Slovenia Proposes 25% Crypto Tax by 2026
A 25% tax on crypto-to-fiat conversions has been proposed in Slovenia, excluding crypto-to-crypto trades. Officials estimate €25 million in annual revenue.
📉 Altcoins in Crisis
8. Mantra Token Tanks 90%
The RWA-focused Mantra token collapsed following forced liquidations and insider trading allegations, sparking concerns over transparency and project viability.
9. Coinbase’s BASE Token Implodes
Coinbase’s experimental meme token, BASE, saw a 90% crash just minutes after launch. Investors blamed insider involvement and poor communication for the token’s rapid downfall.
📱 Global Crackdowns and Legal Fights
10. South Korea Bans 14 Crypto Apps
South Korean regulators blocked apps like KuCoin and MEXC, part of a broader effort to enforce compliance across unregistered platforms.
11. India’s Supreme Court Rejects WazirX Users’ Plea
Investors affected by a ₹2,000 crore WazirX hack were denied relief by the Supreme Court, which advised them to approach SEBI and RBI for recourse.
🔧 Blockchain Innovation and Updates
12. TRX ETF With Staking Proposal Filed
Canary Capital has filed for the first U.S.-based TRX spot ETF, which includes a staking feature—a move that could influence future altcoin ETFs.
13. Pi Network Integrates with Chainlink
Chainlink now supports Pi Coin on 22 data feeds, while Pi Network’s Mainnet roadmap faced backlash for delays and vague incentives.
🚨 This Week in Crypto Hacks
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KiloEx lost $7 million to a cross-chain exploit, crashing the KILO token 30%.
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UK MP Lucy Powell’s X account was hacked to promote a fake coin, underscoring growing scam risks in politics-meets-crypto spaces.
📌 Final Thoughts: A Week of High Stakes and Hard Lessons
From Bitcoin’s reaction to geopolitical drama to regulatory chaos and technological setbacks, this week revealed how quickly sentiment can shift in crypto. Eyes are now on how markets respond to ETF movements, regulatory talks, and continued global enforcement.
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