PA Daily | ALPACA liquidated more than $50 million in 24 hours; UK Treasury plans to cooperate with the United States to promote innovation in the crypto industry
Reprinted from panewslab
04/30/2025·15hToday's news tips:
US SEC has terminated investigation into PayPal stablecoin PYUSD
UK Treasury plans to cooperate with the United States to promote innovation in the crypto industry
Arthur Hayes: Bitcoin will rise to $1 million in 2028, suggesting “doing more everything”
Binance will launch PUNDIX/USDT, CTK/USDT perpetual contracts
ALPACA has over US$50 million in 24 hours, and the amount of liquidation exceeds BTC, ranking first
Standard Crypto partner transferred 2000 MKR and 20000 AAVE to Coinbase 1 hour ago
Regulatory/Macro
US SEC has terminated investigation into PayPal stablecoin PYUSD
According to Cryptonews, the U.S. Securities and Exchange Commission (SEC) has terminated its investigation into PayPal stablecoin PYUSD and has taken no enforcement action. PayPal said in a document disclosed on May 1 that the SEC law enforcement department issued a document subpoena in November 2023 and notified it to end the investigation in February 2025. PayPal reminded in the document that future legislation may bring new compliance costs to stablecoin issuers, and if the partner is involved in litigation or PYUSD is used for illegal transactions, it may cause reputation risks. The termination of the investigation may alleviate institutional concerns about stablecoins in the short term.
Ledger scammers are sending postal letters to steal mnemonic words
According to Cointelegraph, offline phishing scams targeting Ledger hardware wallet users have recently appeared, and scammers asked victims to verify the mnemonic words through postal letters. On April 29, technology commentator Jacob Canfield exposed a forged "Ledger Security Update Notice" letter on the X platform, containing a QR code with the brand logo, inducing users to enter a 24-word recovery phrase. Ledger's official response immediately emphasized: "We will never ask for mnemonic words in any way." This fraud may be related to the Ledger user data breach in July 2020, when more than 270,000 users' names, phone numbers and address information were disclosed by hackers. In 2021, there have been reports that some users have received fake hardware wallets with pre-installed malware. Experts remind: Any claiming mnemonic words is a fraud, and physical isolation is the core security advantage of hardware wallets.
SoFi plans to restart encryption services by the end of 2025
According to CoinDesk, fintech company SoFi announced that it will restart cryptocurrency services and plans to restore customer crypto asset investment functions by the end of this year. The company's CEO Anthony Noto said in an interview with CNBC that the return will be more strategic than before the suspension of services in 2023, and plans to integrate blockchain technology in all its major products in the next 24 months. In 2023, SoFi voluntarily suspended trading services for more than 20 tokens in order to obtain a US bank license. Noto said that new regulations issued by the U.S. Currency Complaints Agency (OCC) in March have reduced the compliance burden of banks participating in crypto business and created conditions for restart. In addition to transactions, SoFi may also launch crypto payments and crypto asset lending services.
UK Treasury plans to cooperate with the United States to promote innovation in the crypto industry
According to The Block, the British Treasury Department issued a statement on April 30 saying that it plans to cooperate with the United States to promote innovative development of the crypto industry. Chancellor Rachel Reeves said that new regulations will be formulated for crypto asset service providers such as Bitcoin and Ethereum through the "change plan" to enhance investor confidence and promote growth. This move aims to make the UK the "best place of innovation in the world". The statement revealed that Reeves recently discussed digital asset regulatory cooperation when meeting with U.S. Treasury Secretary Scott Bessent in Washington, including related proposals proposed by SEC Commissioner Hester Peirce. The Ministry of Finance of the two countries will continue to explore ways to support the responsible development of digital assets through the "UK-US Financial Regulatory Working Group". The UK has adjusted its policies to support the crypto industry many times this year, including the revision of the Financial Services and Markets Act 2000 in January and the cancellation of strict supervision of domestic pledge service providers. This series of measures echoes the Trump administration's supportive attitude towards the crypto industry.
BlackRock applied for DLT Shares, a digital stake category, for its $150 billion money market fund, according to Bloomberg ETF analyst Henry Jim. The DLT share will be sold only through BNY Mellon, which intends to use blockchain technology to mirror ownership, which may be an upfront preparation or preparation for future digital currency/cash use.
European Digital Bank Bunq launches crypto trading service powered by Kraken
According to The Block, Bunq, the second largest digital bank in Europe (after Revolut), announced the launch of the crypto trading feature "bunq Crypto", where users can invest digital assets directly through their banking applications. The service is powered by crypto exchange Kraken and has been launched in the Netherlands, France, Spain, Ireland, Italy and Belgium, supporting more than 300 cryptocurrencies such as Bitcoin, Ethereum and Solana. Bunq said the product complies with the EU Crypto Assets Market Regulation (MiCA) and has completed VASP registration, and plans to gradually expand to other parts of the European Economic Area, and has applied for operational licenses in the United States and the United Kingdom.
Viewpoint
Arthur Hayes: Bitcoin will rise to $1 million in 2028, suggesting “doing more everything”
Arthur Hayes reiterated his optimistic forecast for Bitcoin prices at the Dubai Token 2049 conference, believing that Bitcoin could rise to $1 million by 2028. Hayes pointed out that the United States will need to increase dollar liquidity, which is similar to quantitative easing and will drive cryptocurrency prices to rise. He compared the similarities between the current market conditions and the third quarter of 2022, when the market was concerned about factors such as central bank interest rate hikes, but the United States injected $2.5 trillion through its repurchase program. Hayes said that even if Fed Chairman Jerome Powell may not interfere directly in the market, arbitrage hedge funds may increase liquidity by purchasing Treasury bonds, thereby indirectly driving the market recovery. He advised investors to "do everything long", including cryptocurrencies and stocks.
According to CNBC, Trump, vice president of Trump Group and Trump's second son, publicly criticized the traditional financial system at Dubai cryptocurrency activities, saying that the SWIFT system is inefficient and that the banking industry will be eliminated within ten years if it does not reform. "Modern financial systems have collapsed, run slowly and are expensive. Everything blockchain technology can do will be better than the current way financial institutions work. SWIFT is a disaster. Our banking system favors the super rich. And what really got me into the field of (cryptocurrency) was that I realized that our banking system was used to deal with the vast majority of people in our country. This forced me into the world of cryptocurrency. I tell you that if banks don't pay attention to the upcoming changes, they will go extinction in a decade." He also praised decentralized finance as a way to bypass traditional banking costs and lack of privacy. In recent years, Eric Trump has frequently visited this desert emirate, as it quickly became the global center of cryptocurrencies.
Coinbase executive: Gold appreciation could lead to US Treasury buying Bitcoin earlier than expected
According to The Block, Sebastian Bea, president of Coinbase Asset Management, recently stated on the Scoop program that if the U.S. government reassesses the price comparison relationship between gold and the US dollar, it may accelerate its purchase plan for Bitcoin. He noted that Bitcoin is shifting from highly volatile technology assets to gold-like store of value tools, a trend that has attracted more institutional attention and portfolio integration.
Cardone Capital sets up a real estate fund with 10 assets to acquire more than 1,000 Bitcoins
According to Cointelegraph, Cardone Capital has set up a real estate fund with 10 assets (2,500 units in total) to acquire more than 1,000 bitcoins.
The U.S. Senate will vote on the GENIUS Act in May
According to Cointelegraph, the U.S. Senate will vote on the GENIUS Act in May. The bill sets reserve requirements and regulatory rules for stablecoins, aiming to balance innovation with consumer protection. This is an important step in the field of stablecoin regulation.
Project News
Binance will launch PUNDIX/USDT, CTK/USDT perpetual contracts
Binance Futures will launch the PUNDIXUSDT perpetual contract at 18:00 on April 30, Beijing time, and the CTKUSDT perpetual contract at 18:15, both supporting up to 75 times leverage.
Bithumb will launch SIGN won trading pair
According to the official announcement, South Korean crypto exchange Bithumb will launch a SIGN won trading pair.
Libre to launch $500 million Telegram Bond Fund on TON Blockchain
According to CoinDesk, asset tokenization agency Libre announced that it will launch a $500 million Telegram Bond Fund (TBF) on the TON blockchain in partnership with Brevan Howard, Hamilton Lane and Nomura Securities digital asset unit Laser Digital. The fund will target qualified investors, with the underlying assets of US$2.4 billion outstanding bonds issued by Telegram. Libre CEO Avtar Sehra said fund shares will be tokenized through the TON network, and investors can obtain bond returns and use them as collateral for on-chain lending. Previously, Libre has completed asset tokenization of more than US$200 million, and its partners include BlackRock and other institutions. TON Network was originally developed by Telegram and is now committed to introducing its 950 million users into the on-chain ecosystem.
Binance Wallet New TGE B² Network Participation Points Need to Meet 82 Points
According to the official announcement, Binance Wallet announced the participation threshold for the new B² Network (B2) TGE, and the Alpha points must reach 82 points. The subscription time is from 16:00 to 18:00 on April 30 (UTC+8).
Binance Financial Management Chain supports Solv Protocol BTC staking
According to the official announcement, Binance Financial Management Chain will launch Solv Protocol BTC staking on April 30, 2025 at 12:00 (East Eighth District Time). Users can subscribe and pledge BTC through their Binance account to obtain on-chain revenue provided by Solv Protocol.
The Movement Network Foundation stated on the X platform that 740 million MOVE tokens have been returned to the foundation wallet for preparations for MoveDrop. These tokens have been previously allocated to the initial L1 stage of MoveDrop.
Binance will support IOTA (IOTA) network upgrades and hard forks
According to the official announcement, Binance is expected to suspend the token recharge and withdrawal services of the IOTA (IOTA) network at 14:00 on May 5, 2025 (East Eighth District time) to support its network upgrades and hard forks. The project party will conduct network upgrades and hard forks at 15:00 on May 5, 2025 (East Eighth District time).
NFT Whale dingaling posted on the X platform: "The Solana on-chain token issuance platform boop will be launched this week. Airdrops will be made when it is launched to reward trading users." In addition, he also said that he will not launch a point system and more detailed information will be released soon.
Important data
ALPACA has over US$50 million in 24 hours, and the amount of liquidation exceeds BTC, ranking first
Coinglass data shows that the amount of ALPACA token liquidation exceeded US$50 million in the past 24 hours, mainly short orders, and US$50.187 million in 24 hours, exceeding BTC (US$43.475 million), of which US$3.98 million was liquidated on the Bybit platform at 13:13:30 today.
According to @ai_9684xtpa monitoring, MOCA is suspected of entrusting Galaxy Digital to market or sell tokens. Mocaverse's liquidity distribution multi-signature address has transferred 74.07 million MOCA tokens to Galaxy Digital in the past two weeks, worth about $5.92 million. Just 4 hours ago, Galaxy Digital had topped up 40 million of its tokens to Bybit, worth about $3.6 million. The current MOCA token price is US$0.089818.
ALPACA breaks through $1, up 345.59% in 24 hours
According to Binance market data, ALPACA breaks through USD 1 and is now quoted at USD 1.01, up 345.59% in 24 hours. Previous news, Binance will remove ALPACA, PDA, VIB and WING on May 2.
Bitcoin spot ETF total net inflows of US$173 million yesterday, with a net inflow of 8 days
According to SoSoValue data, the total net inflow of Bitcoin spot ETFs was $173 million yesterday (April 29 EST). Yesterday, the Bitcoin spot ETF with the largest single-day net inflow was Blackrock ETF IBIT, with a single-day net inflow of US$217 million. Currently, the total historical net inflow of IBIT has reached US$42.388 billion. Yesterday, the Bitcoin spot ETF with the largest net outflows in a single day was Bitwise ETF BITB, with a net outflow of US$24.3896 million in a single day. Currently, the total net inflow of BITB in history reached US$2.047 billion. As of press time, the total net asset value of Bitcoin spot ETF was US$110.171 billion, the net asset ratio of ETF (market value compared to the total market value of Bitcoin) reached 5.85%, and the historical cumulative net inflow has reached US$39.196 billion. Source of information:
According to the monitoring of the on-chain analyst Yuchen, Yuya Mikami's personal Meme coin, Mikami, has already 10,431 SOLs (approximately US$1.54 million) in the pre-sale payment address of Mikami tokens within 50 minutes of pre-sale. It is reported that the token has no capital hiring limit, no exchange price, and no refund. It means how many SOLs you score in, Mikami with a total amount of 20%.
Standard Crypto partner transferred 2000 MKR and 20000 AAVE to Coinbase 1 hour ago
According to on-chain analyst Ember Monitor, Standard Crypto partner @izebel_eth transferred 2,000 MKRs (about $3.06 million) and 20,000 AAVEs (about $3.31 million) to Coinbase one hour ago. These MKR and AAVE were purchased on-chain at the end of February and early March, and he should have lost $262,000 on these two tokens.
According to on-chain analyst Ember Monitor, an investor/institutional address that received 9 million UNI allocations from Uniswap in September 2020 transferred all of the 9 million UNIs (about 47.07 million US dollars) into Coinbase Prime one hour ago.
Tether adds 2 billion USDT to the Ethereum network in the early morning
According to Whale Alert monitoring, at 02:18 and 02:22 am today, Tether Treasury added 2 billion USDTs on the Ethereum network through two transactions. Tether CEO Paolo Ardoino said that the newly added USDT of the casting is supplementing the inventory. This is an authorized but unissued transaction, which means that the amount will be used as inventory for the next issue request and chain exchange.
Financing
According to Businesswire, Hong Kong Web3 startup Terminal 3 completed a $8 million seed round of financing, led by Illuminate Financial and CMCC Titan Fund, with Animoca Brands, Progression Fund, IDG Blockchain, Cherubic Ventures, 500 Global, Consensys Mesh, Hard Yaka and BlackPine. The company has developed a decentralized identity and data privacy protocol that has served more than 8 million users, and the new funding will be used to launch enterprise-level solutions by the end of the year. Gary Liu, co-founder and CEO of Terminal 3, said that its platform combines blockchain and zero-knowledge proof technology to provide secure data storage solutions for banking, government credentials and AI agents. Illuminate Financial, an investor, pointed out that verifiable digital identity is the critical infrastructure that drives institutions to adopt crypto assets.
According to official news, Pencil Finance, the RWA agreement of Education Finance (EduFi) announced the completion of a US$10 million liquidity pool financing supported by Animoca Brands and Open Campus, aiming to support Pencil Finance’s first on-chain education loans and debt financing for education companies. Funds have been deployed in Pencil Finance in the liquidity pool on Open Campus EDU Chain. Pencil Finance will work with traditional education loan companies to bring education loans in Southeast Asia and the United States to the chain, opening up a new asset class for on-chain investors. Meanwhile, Pencil Finance helps education loans reduce interest rates by providing on-chain interest-generating opportunities for traditional education loan companies.
The decentralized high-precision map protocol ROVR Network completed a seed round of US$2.6 million, with Borderless Capital and GEODNET jointly led the investment, and IoTeX and other institutions participated in the investment.
According to Kaia's official announcement, Kaia DLT Foundation announced that it had obtained a new round of ecological growth funds from top crypto investment institutions such as 1kx and Blockchain Capital. Kaia promotes the popularization of Web3 in the Asian market by cooperating with Asian super application operators such as LINE and Kakao. Kaia has attracted more than 70 million users and plans to deepen its positioning of "Asian Digital Dollar Portal" through the "Stablecoin Summer" project.
Unto Labs completes $14.4 million in financing to develop a new blockchain based on RISC-V
According to Fortune, Unto Labs announced the completion of a $14.4 million financing led by Framework Ventures and Electric Capital, with a valuation of $140 million. Unto is developing independent blockchain and self-developed virtual machine ThruVM, based on the RISC-V architecture, aiming to improve compatibility with traditional hardware and reduce the entry threshold for non-encrypted developers. Funds will be used to scale the team and accelerate product development.
Camp Network completes US$25 million Series A financing, led by 1kx and Blockchain Capital
According to Fortune, Camp Network, a blockchain project focused on AI copyright splitting, announced that it has completed a US$25 million Series A financing, led by 1kx and Blockchain Capital, with participation from OKX, Lattice and Paper Ventures, with a valuation of up to US$400 million. Camp Network is committed to building an on-chain storage and licensing platform for content creators, and plans to launch cryptocurrencies this year. Co-founder Murthy said that as AI companies gradually standardize the use of data, blockchain can become an important tool for verifying copyright compliance. It is worth noting that Camp Network official promotion subsequently announced that it had raised US$30 million. In addition to 1kx and Blockchain Capital, institutions such as Lattice, TrueBridge, Maven 11, Hypersphere, OKX and Paper Ventures also participated in the investment in Camp Network.
According to Fortune, Miden, a privacy blockchain project co-founded by former Meta engineers, announced the completion of a $25 million seed round of financing, led by Andreessen Horowitz's crypto division, together with Hack VC and 1kx, with Finality Capital Partners, Symbolic Capital and several angel investors in the crypto field participating. Instead of investing directly, Polygon Labs incubated Miden and reached an agreement to allocate about 10% of Miden's future tokens to Polygon token holders. Miden focuses on achieving transaction privacy through zero-knowledge proof, while taking into account the performance and decentralization of blockchain.
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