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New York Attorney General Letitia James has sent a letter to US congressional leaders urging “common sense” federal crypto regulations and to keep digital assets out of US pensions.

“I am urging Congress to pass legislation that would strengthen federal regulations on the cryptocurrency industry to protect investors, strengthen financial markets, and stop fraud,” James said in a 14-page letter shared on April 10, outlining six major risks if the sector remains unregulated.

She said that without appropriate safeguards, the “unchecked proliferation of digital assets” undermines US dollar dominance, weakens national security due to criminal activity, and “undermines the stability of financial markets.” 

Unregulated crypto also subjects investors to “price manipulation and rigged markets,” facilitates fraud that “drains billions of dollars from hardworking Americans, and extracts assets and investments from the American economy,” she said. 

An excerpt of James’ letter to Congress. Source: Office of the New York State Attorney General

Bitcoin could hover in the low $80,000s in the near term if it fails to break through its next resistance level, CryptoQuant says, while other analysts predict the cryptocurrency will hit a fresh all-time high within the next two months.

CryptoQuant analysts said in an April 10 markets report that if Bitcoin (BTC) “continues to rally,” it could hit resistance around the $84,000 price level, but if it breaks through, it could soar before its next resistance level of $96,000.

Bitcoin’s previous support levels are now resistance

“These price levels have acted as price support during this bull cycle but can now act as price resistance if bullish conditions don’t continue to improve,” CryptoQuant said in its report. “This has been the case in past bearish cycles.”

Bitcoin was trading at $79,474 at the time of publication, down 3.5% over the past day, according to CoinMarketCap data.

Bitcoin is down 2.24% over the past 30 days. Source: CoinMarketCap

Solana-based memecoin Fartcoin (FARTCOIN) has outperformed the broader crypto market so far in April, rising over 104% versus SOL being down 2% for the week. As of April 10, it was trading for as high as $0.87.

FARTCOIN/USD vs. TOTAL crypto market cap 30-day performance. Source: TradingView

The cryptocurrency’s outperformance appears despite US President Donald Trump’s seesaw tariff announcements that have wiped nearly $160 billion from the crypto market capitalization in April.

FARTCOIN has outperformed even other memecoins inside the Solana ecosystem, the primary being Official Trump (TRUMP), which has dropped by approximately 25% in April.

As it seems, the third-largest Solana memecoin could rise another 30% in April due to a classic bullish continuation setup.

New Hampshire’s House and Florida’s House Insurance and Banking Committee have respectively advanced bills allowing their states to create Bitcoin reserves.

New Hampshire’s House passed its Bitcoin reserve bill, HB302, in a 192-179 vote on April 10 which will now head to the Senate. The state is now the fourth to pass a Bitcoin (BTC) reserve bill through one chamber, joining Arizona, Texas and Oklahoma.

If HB302 clears New Hampshire’s Senate and Governor Kelly Ayotte signs it into law it would allow the state’s treasurer to use 10% of the state’s general fund and other authorized funds to invest in precious metals and certain digital assets. The bill also sets out how they should be custodied.

The bill specifies that only cryptocurrencies with a market capitalization of over $500 billion would be eligible for investment, a criteria that only Bitcoin currently meets.

New Hampshire’s House votes to pass HB302, the state’s Bitcoin reserve bill. Source: New Hampshire House of Representatives

US Securities and Exchange Commission staff have given guidance on how federal securities laws could apply to crypto, saying companies issuing or dealing with tokens that could be securities should give better details about their business.

The SEC’s Division of Corporation Finance said in a staff statement on April 10 that it was giving its views “to provide greater clarity on the application of the federal securities laws to crypto assets.” 

The Division said its statement was made of observations of disclosures given in existing disclosure requirements and “addresses our views about certain specific disclosure questions that market participants have presented to the staff.”

The guidance, which the Division noted had “no legal force or effect,” said crypto companies who are giving disclosures about their business have typically shared a host of information about their operations, such as what the company specifically does, how any issued tokens work and how the business generates — or intends to generate — revenue.

Companies have also disclosed whether they plan to remain engaged in a crypto network or app after they launch it and, if not, whether any other entities will take over.

Update April 11, 1:46 am: This article has been updated to include more information and background on the resolution.

US President Donald Trump has signed a joint congressional resolution overturning a Biden administration-era rule that would have required decentralized finance (DeFi) protocols to report transactions to the Internal Revenue Service.

Set to take effect in 2027, the so-called IRS DeFi broker rule would have expanded the tax authority’s existing reporting requirements to include DeFi platforms, requiring them to disclose gross proceeds from crypto sales, including information regarding taxpayers involved in the transactions.

Trump formally killed the measure by signing off the resolution on April 10, marking the first time a crypto bill has ever been signed into law, Representative Mike Carey, who backed the bill, said in a statement.

“The DeFi Broker Rule needlessly hindered American innovation, infringed on the privacy of everyday Americans, and was set to overwhelm the IRS with an overflow of new filings that it doesn’t have the infrastructure to handle during tax season,” he said.

The US Securities and Exchange Commission (SEC) has dismissed a lawsuit against Nova Labs, developer of decentralized wireless network Helium, for allegedly issuing unregistered securities, Helium stated in an April 10 blog post. 

Filed in January 2025, the lawsuit was among the SEC’s final enforcement actions against a cryptocurrency developer under former Chair Gary Gensler, who stepped down from his post on Jan. 20 after US President Donald Trump took office. 

The dismissal with prejudice means the blockchain developer cannot be charged with similar violations again for issuing in 2019 its native token Helium (HNT), the company said. 

“[W]e can now definitively say that all compatible Helium Hotspots and the distribution of HNT, IOT, and MOBILE tokens through the Helium Network are not securities,” Helium said. 

“[T]he outcome establishes that selling hardware and distributing tokens for network growth does not automatically make them securities in the eyes of the SEC [and] that the SEC cannot bring these charges against Helium again,” it added.

Cryptocurrency exchange HashKey has received approval from Hong Kong regulators to offer staking services, potentially broadening the institutional appeal of proof-of-stake investments such as the spot Ether exchange-traded funds (ETFs).

HashKey was granted approval on April 10 after the Hong Kong Securities and Futures Commission (SFC) provided regulatory guidance on staking services to Licensed Virtual Asset Trading Platforms (VATPs) and authorized funds, the company disclosed on social media. 

HashKey said it had become “one of the first” regulated Hong Kong exchanges to offer staking services.

Source: HashKey Group

The approval was granted after the China Securities Regulatory Commission (CSRC) recognized the potential benefits of crypto staking services, the SFC said.

North Carolina (NC) representative Neal Jackson introduced the North Carolina Digital Asset Freedom Act on April 10. The bill proposes that qualifying "digital assets" be accepted as a legally recognized form of payment and for taxes.

Although the language of the bill does not specifically mention Bitcoin (BTC), there are several provisions laid out that make BTC uniquely qualified under the bill's definition of a "digital asset."

These stipulations include a minimum market capitalization of $750 billion and a daily trading volume of over $10 billion, a market history of 10 years or more, proven censorship resistance, proof-of-work consensus, lack of a central authority, 99.98% or more network uptime, and a maximum supply cap. The bill read:

"The General Assembly further finds that decentralized digital assets, which are not governed by any central entity or foundation, align with the economic principles of limited, noninflationary money and are capable of ensuring the security and integrity of transactions."

Jackson's bill is merely the latest in state-led Bitcoin strategic reserve legislation in the United States amid inflation concerns, high US federal debt and a depreciating currency.

NC Digital Asset Freedom Act. Source: North Carolina Legislature

Escalating geopolitical tensions threaten to balkanize blockchain networks and restrict users' access, crypto executives told Cointelegraph. 

On April 9, US President Donald Trump announced a pause in the rollout of tariffs imposed on certain countries — but the prospect of a global trade war still looms, especially because Trump still wants to charge a 125% levy on Chinese imports. 

Industry executives said they fear a litany of potential consequences if tensions worsen, including disruptions to blockchain networks’ physical infrastructure, regulatory fragmentation, and censorship. 

“Aggressive tariffs and retaliatory trade policies could create obstacles for node operators, validators, and other core participants in blockchain networks,” Nicholas Roberts-Huntley, CEO of Concrete & Glow Finance, told Cointelegraph. 

“In moments of global uncertainty, the infrastructure supporting crypto, not just the assets themselves, can become collateral damage.”

Bitcoin’s (BTC) four-year cycle, anchored around its halving events, is widely recognized as a key factor in BTC’s year-over-year price growth. Within this larger framework, traders have come to expect distinct phases: accumulation, parabolic rallies, and eventual crashes.

Throughout the four-year period, shorter-duration cycles also emerge, often driven by shifts in market sentiment and the behavior of long- and short-term holders. These cycles, shaped by the psychological patterns of market participants, can provide insights into Bitcoin’s next moves.

Bitcoin whales eat as markets retreat

Long-term Bitcoin holders — those holding for three to five years — are often considered the most seasoned participants. Typically wealthier and more experienced, they can weather extended bear markets and tend to sell near local tops. 

According to recent data from Glassnode, long-term holders distributed over 2 million BTC in two distinct waves during the current cycle. Both waves were followed by strong reaccumulation, which helped absorb sell-side pressure and contributed to a more stable price structure. Currently, long-term Bitcoin holders are in the new accumulation period. Since mid-February, this cohort’s wealth increased sharply by almost 363,000 BTC.

Total BTC supply held by long-term holders. Source: Glassnode

Bitcoin (BTC) spot exchange-traded funds (ETFs) faced significant pressure amid uncertainty caused by the ongoing global trade war. Between March 28 and April 8, these ETFs experienced net outflows totaling $595 million, according to Farside Investors data. Notably, even after most US import tariffs were temporarily lifted on April 9, the funds still recorded an additional $127 million in net outflows.

This situation has left traders questioning the reasons behind the continued outflows and why Bitcoin's rally to $82,000 on April 9 failed to boost confidence among ETF investors.

Spot Bitcoin ETF net flows. Source: Farside Investors

Corporate credit risk could be driving investors away from BTC

One factor contributing to diminished interest is the rising likelihood of an economic recession. "What you can clearly observe is that liquidity on the credit side has dried up," Lazard Asset Management global fixed income co-head Michael Weidner told Reuters. Essentially, investors are shifting toward safer assets like government bonds and cash holdings, a trend that could ultimately lead to a credit crunch.

A credit crunch is a sharp decline in loan availability, leading to reduced business investment and consumer spending. It can happen regardless of US Treasury yields because heightened borrower risk perceptions may independently restrict credit supply.

Digital payments company Block Inc. has reached a $40 million settlement with New York regulators over alleged compliance misconducts tied to its Cash App platform, Bloomberg reported on April 10.

Block was fined by the New York Department of Financial Services (NYDFS) following an investigation into Cash App’s Anti-Money Laundering (AML) and cryptocurrency compliance operations, Bloomberg said after reviewing the government agency’s consent order. 

NYDFS determined that Block allegedly violated consumer protection laws and didn’t conduct proper due diligence on its customers. The company was allegedly too slow in reporting suspicious transactions to regulators and failed to adequately screen so-called “high-risk” Bitcoin (BTC) transactions. 

Block confirmed that it had worked with NYDFS to “resolve the matter principally related to Cash App’s past compliance program.” However, it did not admit to any wrongdoing, according to Bloomberg. 

Block, which was founded by internet entrepreneur and Bitcoin advocate Jack Dorsey in 2009, had been negotiating a settlement with the NYDFS since last year, based on filings submitted with the US Securities and Exchange Commission (SEC).

Users of the Atomic and Exodus wallets are being targeted by threat actors uploading malicious software packages to online coding repositories to steal crypto private keys in the latest cybersecurity threat identified by security professionals. 

According to cybersecurity researchers at ReversingLabs, the exploit works by hiding malicious code in seemingly legitimate npm software packages, which are pre-built bundles of code widely used by software developers.

These malicious software packages target locally installed Atomic Wallet and Exodus Wallet files by installing a patch that overwrites the files to compromise the user interface and fool the unsuspecting victim into sending crypto to scam addresses.

Software supply chain attacks are an emerging threat vector targeting crypto holders as the industry continues to play a cat-and-mouse game with hackers attempting to steal user funds using increasingly sophisticated methods to avoid detection.

The malicious code contained in the pdf-to-office package. Source: ReversingLabs

Ether exchange-traded funds (ETFs) in the United States may be able to start staking a portion of their tokens as soon as May, according to Bloomberg Intelligence analyst James Seyffart. 

On April 9, the US Securities and Exchange Commission (SEC) authorized exchanges to begin listing options contracts tied to spot Ether (ETH) ETFs after greenlighting Bitcoin (BTC) ETF options in September. However, issuers are still waiting for the regulator to allow Ether ETFs to offer staking after filing numerous requests for permission earlier this year.

Source: James Seyffart

The approval of options contracts could represent a key step toward regulatory approval for staking services in the United States. Bloomberg Intelligence analyst James Seyffart said on April 9 that clearance for staking on ETH funds could come as early as May but would likely take until the end of 2025.

“It's possible they could be approved for staking early, but the final deadline is at the end of October,” Seyffart said in a post on the X platform. “Potential intermediate deadlines before the final approval (or denial) are in late May & late August.”

Crypto startup Meanwhile has raised $40 million to scale its Bitcoin-denominated life insurance business, targeting so-called “inflation-prone economies” where policyholders may seek alternatives to traditional fiat-based payouts.

The Series A investment round was led by Framework Ventures and Fulgur Ventures, with additional participation from Xapo founder Wences Casares, the company disclosed on April 10. 

Meanwhile previously secured $20.5 million in seed funding backed by OpenAI CEO Sam Altman and others.

Source: Meanwhilelife

Regulated by the Bermuda Monetary Authority, Meanwhile offers a whole life insurance policy denominated in Bitcoin (BTC), giving policyholders the ability to safeguard the value of their life insurance against currency debasement. 

Bitcoin (BTC) price failed to hold its weekly open gains on April 10 as US stocks ignored positive inflation data.

BTC/USD 1-hour chart. Source: Cointelegraph/TradingView

Data from Cointelegraph Markets Pro and TradingView showed BTC price volatility ticking higher around the release of the March Consumer Price Index (CPI) numbers.

These numbers came in broadly below expectations, revealing slowing inflationary forces despite mass-market disruption due to US trade tariffs.

An official press release from the US Bureau of Labor Statistics (BLS) stated:

Opinion by: Roman Cyganov, founder and CEO of Antix

In the fall of 2023, Hollywood writers took a stand against AI’s encroachment on their craft. The fear: AI would churn out scripts and erode authentic storytelling. Fast forward a year later, and a public service ad featuring deepfake versions of celebrities like Taylor Swift and Tom Hanks surfaced, warning against election disinformation. 

We are a few months into 2025. Still, AI’s intended outcome in democratizing access to the future of entertainment illustrates a rapid evolution — of a broader societal reckoning with distorted reality and massive misinformation.

Despite this being the “AI era,” nearly 52% of Americans are more concerned than excited about its growing role in daily life. Add to this the findings of another recent survey that 68% of consumers globally hover between “somewhat” and “very” concerned about online privacy, driven by fears of deceptive media. 

It’s no longer about memes or deepfakes. AI-generated media fundamentally alters how digital content is produced, distributed and consumed. AI models can now generate hyper-realistic images, videos and voices, raising urgent concerns about ownership, authenticity and ethical use. The ability to create synthetic content with minimal effort has profound implications for industries reliant on media integrity. This indicates that the unchecked spread of deepfakes and unauthorized reproductions without a secure verification method threatens to erode trust in digital content altogether. This, in turn, affects the core base of users: content creators and businesses, who face mounting risks of legal disputes and reputational harm. 

The crypto industry has welcomed the confirmation of American businessman and former US Securities and Exchange Commissioner Paul Atkins as chair of the agency.

Atkins’ approval has taken months. He appeared before the Senate on March 27 to explain his intended approach to securities regulation in the United States, as well as his views on digital assets. 

Atkins will replace acting Chair Mark Uyeda as head of the agency, which began unwinding a number of court cases and enforcement actions against cryptocurrency firms when President Donald Trump took office. However, these actions don’t amount to clear guidance — yet.

Now that Atkins is ready to take the helm, the blockchain industry is hoping for the guidance they’ve been wanting for years. So, who is Paul Atkins, and what can the industry expect?

Senator Cynthia Lummis celebrated the confirmation. Source: Cynthia Lummis

Standard Chartered and cryptocurrency exchange OKX are piloting a new program allowing institutions to use crypto assets and tokenized money market funds (MMFs) as collateral.

Announced on April 10, the collateral mirroring program enables off-exchange collateral usage while enhancing security by placing custody with a globally systemically important bank, according to a joint statement from the companies.

The pilot has been launched under the regulatory oversight of the Dubai Virtual Asset Regulatory Authority, with Standard Chartered acting as a regulated custodian in the Dubai International Financial Centre (DIFC).

The program launched in collaboration with crypto-friendly asset manager Franklin Templeton and features Brevan Howard Digital among the first institutions to trial the new capability.

OKX clients to gain access to assets by Franklin Templeton

As part of the collaboration, OKX clients will have access to onchain assets developed by Franklin Templeton’s digital assets team.