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The new meme coin WEN has gained popularity on Solana following a large-scale airdrop to over a million wallets. Each wallet can claim an airdrop of 643,652 WEN, which has seen a price increase of 483% since the drop. While there were some outliers with inflated prices, the volatility of meme coins is to be expected.
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Bitcoin ETFs have seen a surge in inflows, with BlackRock's IBIT leading the charge, but on-chain data suggests the rally may lack genuine spot demand. Short liquidations and negative funding rates indicate a potential imbalance in the market, calling for stronger spot demand for sustainability.
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KBank, the exclusive banking partner for Upbit, is testing onchain cross-border remittances with Ripple. The partnership aims to improve speed, cost, and transparency for remittance customers by settling transactions in minutes.
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The recent rally of Pudgy Penguins may have been influenced by ecosystem momentum, benefiting long-term holders unexpectedly. Bradley Park suggests that a large token unlock in mid-April provided liquidity for major holders to sell, with on-chain data supporting this pattern.
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The NFT market saw significant gains this week, with CryptoPunks and Bored Apes leading the way. Various collections like Azuki, BAKC, and Meebits also experienced notable increases. The recovery fund for the Kelp DAO exploit has reached its target, with major contributors including Aave founder Stani Kulechov.
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French authorities have charged 88 suspects, including minors, in 12 investigations related to violent crypto "wrench attacks." The charges involve offenses like kidnapping, extortion, and money laundering by organized criminal groups targeting crypto holders.
Coindesk
The European Union imposed extensive sanctions on Russia, including a total ban on crypto providers and platforms based in the country. This ban also extends to Russia's central bank digital currency and stablecoin, with measures against various financial institutions and entities connected to the Russian banking network.
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Western Union will launch its Solana-based stablecoin USDPT next month, designed for settling with its global agent network. The company's Digital Asset Network aims to bridge cryptocurrency wallets with physical locations for easy conversions.
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The Department of Justice concluded its investigation into Jerome Powell, clearing the way for Kevin Warsh's potential nomination as the next Federal Reserve Chair. Senator Thom Tillis had delayed the confirmation vote pending the investigation's closure, which has now shifted prediction market bets in favor of Warsh.
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Chainlink's data standard is now available on the AWS Marketplace, offering services like data feeds, data streams, and proof-of-reserve for enterprise developers. AWS has also developed reference architectures for proof-of-reserve monitoring and real-time prediction market trading.
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Morgan Stanley has introduced a money market fund tailored for stablecoin issuers, allowing them to invest reserves in assets like notes, bonds, and overnight repurchase agreements. The product complies with the GENIUS Act, a federal framework mandating reserve requirements for stablecoins.