Morning Crypto Wrap — 28 April 2026

Executive brief

The digital asset market is navigating a complex intersection of regulatory shifts and macro-economic pressure. Acting Attorney General Todd Blanche has signalled a significant policy pivot by declaring that code is not a crime, a move intended to protect developers from prosecution when they lack knowledge of criminal misuse. This regulatory softening arrives as institutional giants continue to expand their footprints. Jack Dorsey’s Block now holds nearly 9,000 Bitcoin, while Bitmine has achieved a historic milestone by surpassing 5 million Ether in its corporate treasury. However, these bullish signals are countered by a cooling ETF market. US spot Bitcoin ETFs ended a nine-day inflow streak with $263 million in net outflows.

The broader financial environment remains volatile as Bank of Japan members discuss potential rate hikes, and global energy concerns mount with oil prices surging above $100 per barrel. These factors have contributed to Bitcoin losing its grip on the $77,000 level. In the DeFi sector, a coalition of protocols is working to restore liquidity following a $292 million exploit involving restaked assets. This systemic fragility highlights a key risk for the current recovery. A primary driver for the coming week will be the bond market, where 10-year Treasury yields may dictate the next major move for risk assets. Investors should watch for a directional cue from the Federal Reserve, as a failure to hold current support levels could trigger further liquidations. Conversely, the push for regulated stablecoins in Israel and technical verification of bank-led remittances in South Korea present opportunities for long-term infrastructure stability.

1) Top 20 news headlines

• Acting AG Todd Blanche confirms code is not a crime in DOJ pivot; developers will no longer be charged unless they knowingly help third parties commit crimes.
• Bitcoin ETFs snap nine-day inflow run as BTC slips below $77k; US spot Bitcoin ETFs posted $263 million in outflows after failing to reclaim the $80,000 level.
• Bitmine rockets past 5m ETH with fresh 101,901 purchase; the treasury company acquired 101,901 ETH last week, representing 4.21% of the total supply.
• Jack Dorsey’s Block nears 9,000 bitcoin in treasury after Q1 addition; the firm added 114 BTC to reach a total of 8,997 BTC in its corporate holdings.
• DeFi United unveils rsETH recovery plan after $293m exploit; a coalition of projects has committed nearly $240 million to restore lending market backing.
• Israel approves its first regulated stablecoin BILS; the digital shekel was developed on Solana in collaboration with Fireblocks and EY.
• CFTC sues Wisconsin over prediction markets authority; the agency added Wisconsin to the list of states it is suing to defend its event-contract jurisdiction.
• Polymarket seeking CFTC approval to reopen to US traders; the move aims to bring event-trading activity under formal regulatory oversight.
• Galaxy Digital posts $216m Q1 loss as crypto market slides; the loss follows weaker asset values, though data center power capacity has doubled to 1.6GW.
• Visa is teaming up with a Tether co-founder to build onchain banks; the project aims to deliver stablecoin payments infrastructure to under-banked populations.
• Riot extends $200 million Coinbase credit facility; the miner extended its maturity but faces pressure if Bitcoin prices continue to slide.
• Ondo Finance adds proxy voting for tokenized equity holders; the move allows holders of $700 million in tokenized stocks to participate in governance.
• EU bans digital rubles in 20th round of Russia sanctions; the new package prohibits the use of and support for ruble-backed tokens and state-linked CBDCs.
• Solana introduces post-quantum solution Falcon; Firedancer and Anza are testing the new cryptographic scheme to protect against future quantum threats.
• Bitcoin developer plans eCash fork for August 2026; the proposal includes a 600,000 eCash allocation for Satoshi Nakamoto on the new chain.
• BoJ members call for rate hike as Yen rises; markets are pricing in a June hike after a split vote saw three policymakers dissent in favour of tightening.
• Bitcoin flash crashes below $78,000; nearly $295 million in total crypto liquidations occurred over 24 hours as prices slipped at the European open.
• XRP drops 3% below $1.40 pivot; high-volume selling has confirmed a breakdown as failed support levels turn into technical resistance.
• Cardano voters weigh $46.8 million Bitcoin DeFi budget; the treasury proposal arrives as prominent NFT marketplace JPG Store announces a complete shutdown.
• South Korea’s Kbank tests Ripple integration; the bank powering Upbit’s fiat access is conducting technical verification for blockchain-based overseas remittances.

2) BTC and ETH ETF flows

3) X trending news

• Retail risk appetite skyrocketing; daily net call option purchases by retail investors hit 9 million contracts, a 350% increase since March.
• S&P 500 historic monthly run; the index is up 9.9% in April, on track for its best monthly performance since November 2020.
• Nvidia hits record $5.2 trillion market cap; the company now represents 4.96% of the global equity market, larger than the entire Japanese stock market.
• MicroStrategy buys 3,273 Bitcoin; Michael Saylor’s firm added $255 million in BTC, bringing its total holdings to 818,334 BTC.
• SEC Chair Paul Atkins backs innovation; the Chairman stated that crypto and blockchain developments will strengthen the US financial system.
• US gas prices hit $4.18 per gallon; oil prices surged to $100 per barrel as geopolitical tensions in the Strait of Hormuz intensify.
• UAE to exit OPEC; the United Arab Emirates will officially end its 59-year membership in the organization effective 1 May.
• Western Union Solana stablecoin launch; the payment giant is reportedly set to launch its first Solana-based stablecoin next month.