Cardano Founder Charles Hoskinson Faces $620M ADA Theft Allegations
Cardano founder Charles Hoskinson faces accusations of illicitly acquiring over $620 million in $ADA tokens. Allegations claim Hoskinson used administrator keys to remove $ADA from various wallets, subsequently 're-printing' them into his personal wallets, alleging manipulation of token ownership or supply records through privileged access. This development prompted an immediate social media reaction, with a post reporting the allegations registering a bearish sentiment score of -95.
BlackRock Reclassifies $BTC as 'Risk-Off' Asset; Trump Signals Major Crypto Plans
BlackRock, the global asset manager, has officially characterized Bitcoin ($BTC) as a "risk-off" asset. This designation represents a re-evaluation of $BTC's traditionally volatile market perception.
Concurrently, former President Donald Trump announced his administration is preparing a cryptocurrency initiative, should he return to office, stating, 'we are preparing to do something big with crypto.' Following both announcements, market sentiment for $BTC registered a bullish reading of 75.9%, above its typical baseline range of 65-75%. Open interest data reflected bullish positioning among traders, with 77% of $BTC positions reported as long. $BTC traded at $75,011.00, marking a 1.40% increase over the preceding 24-hour period.
XRP Spot ETFs Exceed $1 Billion AUM on $17.1M Inflow
XRP Spot Exchange-Traded Funds (ETFs) have collectively surpassed $1.02 billion in total Assets Under Management (AUM), driven by a $17.1 million single-day net inflow. This marks the largest daily netflow for $XRP ETFs since February. Bitwise led the recent surge with $6.23 million, bringing its historical total inflow to $399 million, while 21Shares added $5.43 million. Cumulative net inflow across all $XRP spot ETFs has now reached $1.249 billion. Following these developments, $XRP's price increased by 3.7% over 24 hours, breaking past $1.40 to trade at $1.410000, and a 5.2% gain over seven days. $XRP's market mindshare also registered a change of 0.4%.
Bitwise Debuts Avalanche ETF with 5.4% Staking Yield
Bitwise launched the Bitwise Avalanche ETF ($BAVA) on April 15 on the New York Stock Exchange (NYSE), providing direct exposure to $AVAX, the native cryptocurrency of the Avalanche blockchain. A key feature is its integrated staking mechanism, targeting a 5.4% yield managed by Bitwise Onchain Solutions. This marks the first Avalanche ETF to incorporate staking rewards within a regulated fund. The $BAVA ETF carries a 0.34% management fee, with an initial 0% fee period. Upon debut, the fund recorded approximately $2.5 million in AUM, with over $400,000 in trading volume within the first 90 minutes. Following the launch, $AVAX's price registered a 1.9% increase over 24 hours and a 4.3% increase over seven days, trading at $9.480000. Mindshare for $AVAX also saw a change of 0.1%.