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Singapore Gulf Bank (SGB) has announced the launch of a stablecoin issuance and exchange service. Institutional clients can now convert fiat currency into stablecoins through their SGB accounts, with 24-hour real-time settlement. The service currently supports USDC transactions of over $100,000, with plans to expand to include USDT, USDe, and USDG.

Houston-based energy land management company EagleRock Land has filed for an IPO with the U.S. Securities and Exchange Commission (SEC), with plans to list on the New York Stock Exchange (NYSE) under the ticker "EROK," Bloomberg reported. The company, which owns and manages approximately 236,000 acres in the Permian Basin, is pursuing revenue diversification by leasing land for cryptocurrency mining.

According to CoinNess market monitoring, BTC has risen above $76,000. BTC is trading at $76,175.16 on the Binance USDT market.

Bitcoin long-term holders have accumulated 3.06 million BTC over the past three months, on-chain analyst Axel Adler Jr. said on X. He noted, however, that some long-term holdings are being sold at a loss. Adler Jr. explained that while the market has not entered a full capitulation, it is difficult to interpret the accumulation alone as a bullish signal.

An address believed to belong to a whale or an institution has purchased approximately 4.5 million LDO, valued at around $1.86 million, in an over-the-counter (OTC) transaction following a recent token buyback by Lido. According to EmberCN, the same address also acquired 10,000 AAVE, worth about $1.15 million, from Wintermute and FalconX within the past day.

Binance has announced it will delist the DEGO, DENT, and TRU spot trading pairs at 3:00 a.m. UTC on April 28.

Mitsui's digital subsidiary, Mitsui Digital Commodities (MDC), announced it will issue its gold-pegged RWA token, Zipangcoin (ZPG), on the Optimism (OP) network. ZPG has been issued under Japan's regulatory framework since 2022. The token was previously issued on the Miyabi network, a private blockchain developed by bitFlyer.

French Finance Minister Roland Lescure has emphasized the need to expand the use of euro-denominated stablecoins, urging European banks to more actively adopt deposit tokens. Speaking at a cryptocurrency conference in Paris, Lescure expressed dissatisfaction with the current situation, noting that the scale of euro stablecoins is small compared to their U.S. dollar counterparts, Reuters reported. He added that he encourages banks to more actively consider offering deposit token products.

Representative Kim Sang-hoon, chairman of the People Power Party's Special Committee on Stock and Digital Asset Value-Up, is calling for the swift enactment of the second phase of the Digital Asset Basic Act, focusing on stablecoins while excluding proposed restrictions on crypto exchange ownership, Edaily reported. Kim said he feels a sense of responsibility for the significant delays in drafting the government's version of the bill. He emphasized that he would do his best to ensure a globally competitive digital asset bill is prepared as soon as possible.

According to data from CoinGlass, approximately $123.74 million in short positions on major centralized exchanges will be liquidated if BTC breaks through $75,715. Conversely, a drop below $73,583 would trigger the liquidation of $215 million in long positions.

Demand for stablecoins is on the rise despite the broader cryptocurrency market's weakness, according to an analysis by on-chain analyst Darkfost. In a contribution to CryptoQuant, Darkfost noted that since February, average weekly inflows into crypto lender Nexo have nearly doubled from around $8 million to $15 million. This trend suggests that investors are increasingly using stablecoins to manage idle funds and pursue interest-bearing opportunities, he explained.

The Tokyo Metropolitan Government has announced it will offer subsidies to companies that use yen-denominated stablecoins issued in Japan for payments and remittances. The program will provide grants of up to $260,000 per project.

South Korean crypto exchange Bithumb has announced it is removing Venus (XVS) from its delisting watchlist. The move comes after the exchange determined that the issues that initially led to the designation have been resolved.

The shift by Bitcoin mining companies toward the AI infrastructure business could pose a serious threat to network security, Capriole Investments founder Charles Edwards pointed out on X. He projected that for major mining firms, the share of revenue from mining is expected to plummet from the current 90% to the 30% range within the next two to three years. Edwards also expressed concern that the hash rate, the foundation of BTC's security, is rapidly declining ahead of the threat from quantum computing, and that many miners have halted the introduction of new mining equipment. In response, Blockstream CEO Adam Back argued that if the BTC hash rate falls, the profitability for remaining miners increases, eventually reaching an equilibrium between mining profits and AI conversion profits. He added that higher mining profitability would lead to less selling by miners, which could in turn create a virtuous cycle that drives up the price of BTC.

DeFi needs to shift its focus from high-yield marketing to prioritizing risk management, according to Juan Manuel Pellicer, vice president of research at Sentora, formerly known as IntoTheBlock. In an interview with DL News, he argued that existing DeFi vaults have been overly focused on Annual Percentage Yield (APY) and have failed to transparently provide users with specific risk metrics. Pellicer stressed the need for intelligent, automated systems that put risk management first. He added that the ecosystem will only grow if DeFi evolves from being a simple means of depositing assets into a financial infrastructure that operates on transparent rules.

Ethereum network transactions surpassed 200 million in the first quarter of this year, reaching an all-time high, CoinDesk reported. This figure is more than double the low of 90 million transactions seen in 2023. The majority of these transactions occurred on Layer 2 networks such as Base and Arbitrum. However, some observers point out that the price of ETH has not risen in proportion to the increase in network activity, suggesting that the growth in Layer 2s may be masking the mainnet's lower profitability.

A golden cross between Bitcoin's 50-week and 100-week simple moving averages (SMA), an indicator that has accurately predicted major bear market bottoms in the past, has not yet occurred, CoinDesk reported. In a typical uptrend, the 50-week SMA is positioned above the 100-week SMA. During a bear market, the 50-week SMA crosses below the 100-week SMA in what is known as a death cross. According to the report, while the two moving averages have drawn close, a golden cross has not yet appeared. "The past three golden crosses all signaled the start of a major bull market," the outlet noted, adding that the absence of this signal means "the current price rebound could be temporary."

Decentralized exchange CoW Swap (COW) announced via its official X account that a social engineering attack on April 14 resulted in $1.2 million in damages after users were exposed to a phishing site. The exchange explained that while its core protocol infrastructure was not compromised, a vulnerability in its domain management system was exploited. The Cow Protocol team added that it has since restored the domain and strengthened security through a service migration and registry lock.

Sui (SUI) has designated South Korea as its top priority market in Asia and plans to expand collaboration with financial institutions and big tech firms once the country's stablecoin regulations are clarified, Digital Today reported. The project highlighted the development of a Korean won-denominated stablecoin and Bitcoin-based financial products as key strategies. Sui is also promoting its native programming language, Move, to grow its developer ecosystem.

BTC perp long/short ratios on top exchanges by open interest The following are the 24-hour long/short ratios for BTC perpetual futures on the world’s three largest crypto futures exchanges by open interest: Overall: 49.14% long, 50.86% short - Binance: 49.52% long, 50.48% short - OKX: 50.98% long, 49.02% short - Bybit: 48.46% long, 51.54% short

Mint, an NFT Layer 2 blockchain startup, announced on X that it has ceased service operations as of April 17. Users have until Oct. 20, 2026, to withdraw their assets. After this date, asset processing and withdrawals will no longer be possible.

At least 12 DeFi protocols and crypto firms have been attacked in the two weeks since the Drift Protocol hack on April 1, Cointelegraph reported. The targets included CoW Swap, Hyperbridge, Bybit, Silo Finance, BSC TMM, MONA, Zerion, Rhea Finance, and Grinex. The Drift hack itself has been attributed to an attack by a North Korean organization.

An anonymous whale address has withdrawn 31.55 million SIREN, worth $64.67 million, from Binance Alpha over the past two weeks, Lookonchain reported. According to CoinMarketCap, SIREN is trading at $2.07, up 143.24%.

The Bitcoin (BTC) perpetual futures funding rate has fallen to its lowest level since 2023, Glassnode reported. The analytics firm noted that a low funding rate indicates many traders anticipate a price drop. However, during March and April, the funding rate remained consistently negative while the price of BTC gradually rose from the low $60,000s to around $75,000. Glassnode's analysis also pointed out that historically, periods when the funding rate turned negative have often coincided with local market bottoms, such as in March 2020, mid-2021, and during the FTX collapse in 2022.

South Korean crypto exchange Upbit announced that it will add a SOON/KRW trading pair at 5:30 a.m. UTC today.