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24 Apr 2026, 11:20
Bitget Launches Pre-IPO Token Trading Starting With SpaceX on Solana
Bitget has launched IPO Prime, a platform offering tokenized exposure to private companies before they go public, with SpaceX as the first listing via a derivative token called preSPAX minted on the Solana blockchain. The offering is issued through Republic, a private markets investment platform, and began trading after a brief subscription window, giving retail investors near-immediate liquidity on a pre-IPO name that has been off-limits to almost everyone outside Sand Hill Road. The core question this raises: whether tokenized pre-IPO derivatives represent a genuine democratization of private market access, or a new category of structured risk that regulators have not yet caught up with. Key Takeaways Product launch: Bitget’s IPO Prime platform offers tokenized exposure to private companies ahead of public listings. First listing: preSPAX, a derivative token tracking SpaceX’s economic performance, issued via Republic on Solana. Token structure: preSPAX is a derivative – not equity – designed to mirror financial outcomes tied to SpaceX’s post-IPO valuation. Mechanics: Users commit stablecoins into a pool and receive tokens proportional to total demand; tokens trade on a spot market immediately after distribution. Chain: Solana, increasingly positioned as a settlement layer for tokenized real-world assets. Watch item: Whether the SEC or equivalent regulators classify preSPAX-style instruments as unregistered securities will determine how fast IPO Prime can scale globally. Discover: The best pre-launch token sales How IPO Prime Actually Works, and What a preSPAX Buyer Actually Holds The mechanics are straightforward but the product structure deserves precision. Users deposit stablecoins into a subscription pool during a defined window; token allocations are then distributed based on total pool demand rather than fixed lots. Once distributed, preSPAX trades on Bitget’s spot market, letting holders enter and exit as sentiment around a SpaceX IPO shifts. preSPAX launch sale in now LIVE on Bitget IPO Prime! > Total supply: 94,000 preSAPX > Subscription price: 1 preSPAX = $650 > Implied SpaceX valuation: $1.5T > Commit token: USDT or USDGO Subscription period: Apr 18, 06:00 – Apr 21, 06:00 (UTC) FCFS, join now ↓ — Bitget (@bitget) April 18, 2026 What a buyer actually holds is a derivative, not a share, not a convertible note, not a SAFE. preSPAX is structured to mirror the financial outcomes tied to SpaceX’s valuation at the point of a public debut. Republic, which specializes in private market access, issues the token; Solana handles settlement and custody of the on-chain instrument. The distinction from equity ownership is not a footnote, it is the entire legal architecture of the product. This structure breaks the traditional pre-IPO lock-up model, where venture stakes in private firms can sit illiquid for three to seven years. IPO Prime’s spot market creates an exit valve that did not previously exist for retail participants. That is genuinely new. What it does not provide is voting rights, pro-rata rights, or any direct claim on SpaceX assets. What the SpaceX Hook Reveals About Retail Demand for Pre-IPO RWA Exposure Tokenization of real-world assets has expanded rapidly across bonds, money market funds, and commodities, but pre-IPO equity exposure has remained structurally inaccessible to retail. SpaceX is not an arbitrary first listing. The company has reportedly filed confidentially for an IPO, making it one of the most anticipated market debuts in years, with retail demand that has no conventional outlet. Bitget’s choice of Solana as the settlement chain aligns with a broader trend. Solana has absorbed an increasing share of RWA tokenization activity in 2025 and 2026, drawn by throughput and low transaction costs relative to Ethereum mainnet. Republic’s involvement adds a layer of private market credibility that a pure crypto-native issuer would lack. The competitive pressure here is real. Exchanges are racing to extend product surface area beyond spot and derivatives into structured exposure products. Bitget’s IPO Prime is a direct response to that dynamic, and a signal that pre-IPO tokenization is moving from niche experiment to exchange-tier product category. Explore the top RWA presale projects now The post Bitget Launches Pre-IPO Token Trading Starting With SpaceX on Solana appeared first on Cryptonews .
24 Apr 2026, 11:18
Bitcoin’s will-it-won’t-it rally fails again as global stocks remain mixed
Bitcoin is trading near $77,911, up 0.67%, but the rally is still failing to break cleanly higher. Open interest is at $122.62B, down 0.81%, while liquidations fell to $163.29M. USDC on Binance rose from about $4.5B in March to $7.51B by April 21. Gold is down this week, while the dollar and 10-year Treasury yields are rising.
24 Apr 2026, 10:45
Upbit Suspends Polygon Deposits and Withdrawals: Critical Hard Fork Deadline Approaches
BitcoinWorld Upbit Suspends Polygon Deposits and Withdrawals: Critical Hard Fork Deadline Approaches South Korea’s largest cryptocurrency exchange, Upbit , has announced a temporary suspension of deposits and withdrawals for Polygon-based assets. This Upbit Polygon suspension directly affects two tokens: POL (the native token of the Polygon ecosystem) and GMT (a token built on the Polygon network). The halt begins at 11:00 a.m. UTC on April 29 . The exchange cites an upcoming Polygon hard fork as the reason. This event requires network maintenance and protocol upgrades. Understanding the Upbit Polygon Suspension: What It Means for Traders For traders holding POL or GMT on Upbit, this suspension creates a temporary freeze. You cannot send these tokens to external wallets or receive them from other platforms during the window. The POL deposit halt and GMT withdrawal pause are standard safety measures. Exchanges routinely suspend services during major network upgrades. This prevents transaction failures or asset losses. Upbit will resume services after the hard fork completes and the network stabilizes. Why Do Exchanges Suspend Services During Hard Forks? A hard fork is a permanent divergence in a blockchain’s protocol. It introduces new rules that older nodes do not accept. During this period, network activity can become unpredictable. Transactions may fail or get stuck. Exchanges like Upbit suspend operations to protect user funds. They also need time to update their own infrastructure. This ensures compatibility with the new blockchain version. The Polygon hard fork aims to improve scalability and security. These upgrades are essential for long-term network health. Timeline and Key Dates for the Polygon Hard Fork The suspension starts at 11:00 a.m. UTC on April 29 . Upbit has not yet announced the exact resumption time. Historically, such suspensions last between 2 to 24 hours. The hard fork itself will occur at a specific block height on the Polygon network. Users should monitor Upbit’s official announcements for updates. The exchange will notify users when deposits and withdrawals reopen. It is crucial to check the Upbit exchange news page regularly during this period. What Tokens Are Affected by the Suspension? Only two tokens are directly impacted: POL and GMT . POL is the upgraded native token of the Polygon ecosystem. It replaced MATIC in a previous migration. GMT is a utility token used within the STEPN fitness app, built on Polygon. Other Polygon-based tokens on Upbit may not be affected. However, users should verify with Upbit’s official list. The exchange may expand the suspension if network conditions require it. Potential Impact on POL and GMT Prices Exchange suspensions often create short-term price volatility. Traders cannot move assets during the halt. This reduces liquidity and can cause price swings. However, the impact is usually temporary. The market often recovers once services resume. POL and GMT holders should avoid panic selling. The hard fork is a positive development for the Polygon network. It enhances functionality and security. Long-term, this could support token value. Short-term, traders should prepare for potential fluctuations. How to Prepare for the Suspension If you hold POL or GMT on Upbit, take action before April 29. Move any tokens you need to trade or transfer to external wallets. Complete all pending transactions before the deadline. After the suspension starts, you cannot initiate new transfers. Keep your funds on Upbit only if you plan to hold through the fork. The exchange will credit any new tokens from the hard fork if applicable. Stay informed through Upbit’s official communication channels. Background: Polygon’s Transition from MATIC to POL The Polygon network has undergone significant changes. In 2023, the community approved a proposal to upgrade from MATIC to POL. POL became the new native gas and staking token. This hard fork is part of the ongoing network evolution. It introduces technical improvements to support Polygon’s growing ecosystem. The upgrade aims to reduce transaction costs and increase throughput. These changes are critical for Polygon’s competitiveness in the Layer 2 space. Expert Analysis: Why Hard Forks Matter for Exchange Users Industry experts emphasize the importance of exchange cooperation during hard forks. “Exchanges like Upbit play a vital role in maintaining network stability,” says blockchain analyst Dr. Kim Soo-jin. “Their proactive suspension prevents user losses and ensures a smooth transition.” Users should view these suspensions as protective measures. They are not signs of trouble. Rather, they indicate responsible exchange management. Following exchange guidelines is the best way to safeguard assets. Comparison: How Other Exchanges Handle Hard Forks Upbit’s approach is standard across the industry. Major exchanges like Binance, Coinbase, and Kraken follow similar procedures. They suspend deposits and withdrawals before hard forks. They also update their systems to support the new chain. Below is a comparison of typical exchange actions: Binance: Suspends deposits and withdrawals 2–4 hours before fork. Resumes after network stability is confirmed. Coinbase: Halts trading and transfers for affected assets. Provides status updates via blog posts. Kraken: Suspends only deposits and withdrawals. Trading may continue if liquidity allows. Upbit: Follows similar pattern with clear communication in Korean and English. This consistency helps users understand what to expect. It also reinforces trust in exchange security practices. What Happens After the Hard Fork? Once the hard fork completes, Upbit will review network stability. The exchange will update its node software to the latest version. After confirming no issues, it will resume deposits and withdrawals. Users may see a new token if the fork creates a split. However, most Polygon hard forks do not produce new tokens. They are protocol upgrades, not contentious splits. Users should check their Upbit wallets after resumption for any changes. Security Considerations During the Suspension Scammers often exploit exchange suspensions. They send phishing emails claiming urgent action is needed. Users should never share private keys or passwords. Only trust official Upbit communications. Verify any message through the exchange’s verified social media accounts. The suspension period is a high-risk time for fraud. Stay vigilant and report suspicious activity to Upbit support. Conclusion The Upbit Polygon suspension for POL and GMT deposits and withdrawals is a necessary precaution. It ensures user safety during the Polygon hard fork on April 29. Traders should complete all transfers before the deadline. The suspension is temporary and standard industry practice. After the hard fork, services will resume. This event highlights the importance of exchange cooperation in blockchain upgrades. Stay informed, plan ahead, and protect your assets. FAQs Q1: When does the Upbit Polygon suspension start? The suspension begins at 11:00 a.m. UTC on April 29. Deposits and withdrawals for POL and GMT will halt at that time. Q2: Why is Upbit suspending Polygon deposits and withdrawals? Upbit is suspending services due to an upcoming Polygon hard fork. This network upgrade requires temporary maintenance to ensure transaction safety. Q3: How long will the suspension last? Upbit has not specified an exact duration. Based on past events, suspensions typically last 2 to 24 hours. The exchange will announce resumption after network stability is confirmed. Q4: Are other Polygon tokens on Upbit affected? Currently, only POL and GMT are affected. Other Polygon-based tokens may be added if network conditions change. Check Upbit’s official announcements for updates. Q5: What should I do if I need to move my POL or GMT tokens? Complete all transfers before April 29 at 11:00 a.m. UTC. After the suspension starts, you cannot send or receive these tokens until services resume. Q6: Will the hard fork create a new token? Most Polygon hard forks are protocol upgrades, not contentious splits. It is unlikely a new token will be created. Upbit will credit any new tokens if applicable. This post Upbit Suspends Polygon Deposits and Withdrawals: Critical Hard Fork Deadline Approaches first appeared on BitcoinWorld .
24 Apr 2026, 10:40
US Soldier Charged With Using Classified Intel to Win $400K on Polymarket
A US Army soldier has been charged with using classified government information to profit from prediction market bets, according to an indictment unsealed by the US Attorney’s Office for the Southern District of New York. Authorities said Gannon Ken Van Dyke faces multiple charges, including unlawful use of confidential government information for personal gain, theft of nonpublic government information, commodities fraud, wire fraud, and engaging in an unlawful monetary transaction. Inside the $400K Bet Prosecutors allege that Van Dyke used sensitive classified information obtained through his role in a US military operation known as “Operation Absolute Resolve” to place bets on the prediction marketplace Polymarket. The operation involved the capture of Nicolás Maduro, and Van Dyke was part of the planning and execution process, which gave him access to nonpublic details about the mission. Despite having signed nondisclosure agreements as part of his military duties, which explicitly prohibited him from sharing or using classified information, Van Dyke allegedly used that knowledge for personal financial gain. According to the indictment, between late December 2025 and early January 2026, Van Dyke created and funded a Polymarket account and placed approximately 13 bets tied to outcomes related to Venezuela and Maduro. These included contracts predicting whether US forces would be present in Venezuela by January 31, 2026, whether Maduro would be removed from power by that date, whether the United States would invade Venezuela, and whether US President Donald Trump would invoke war powers against the country. All of Van Dyke’s positions reportedly backed the “YES” outcome on these events, and he wagered roughly $33,034 while in possession of classified information about the operation. US special forces apprehended Maduro and his wife in Caracas during the early hours of January 3, 2026, and Trump announced the successful operation later that day. Polymarket then settled several related contracts in Van Dyke’s favor, which resulted in large winnings. Prosecutors allege his total profits reached approximately $409,881. Van Dyke allegedly moved most of the funds to a foreign cryptocurrency vault and later transferred them into a newly created online brokerage account. He also withdrew a significant portion of his proceeds from Polymarket on the same day as the operation. As scrutiny around unusual trading activity in Maduro-related contracts began to circulate in media reports and on social platforms, Van Dyke allegedly took steps to hide his involvement. These actions included requesting the deletion of his Polymarket account under false pretenses and changing the email associated with his cryptocurrency exchange account to one not registered in his name. Van Dyke is scheduled to appear before a US magistrate judge in the Eastern District of North Carolina. In a statement, FBI Director Kash Patel said, “Today’s announcement makes clear no one is above the law, and this FBI will do whatever it takes to defend the homeland and safeguard our nation’s secrets. Any clearance holders thinking of cashing in their access and knowledge for personal gain will be held accountable.” Kalshi’s Election Betting Probe In a separate case, Kalshi recently suspended three US political candidates after finding out they traded on the outcomes of elections in which they were directly involved. The platform identified Matt Klein, Ezekiel Enriquez, and Mark Moran as participants. Klein and Enriquez each placed trades worth less than $100 on their own races, cooperated with the investigation, and accepted fines and five-year bans. Moran, however, made multiple trades tied to his campaign, including before formally announcing his candidacy, and later stopped engaging with investigators. He was issued a larger penalty, ordered to return any profits, and also banned for five years. The post US Soldier Charged With Using Classified Intel to Win $400K on Polymarket appeared first on CryptoPotato .
24 Apr 2026, 10:15
Whale Ranked #1 in Trump Token Event Deposits $6.3M TRUMP to Binance – A Signal for a Sell-Off?
BitcoinWorld Whale Ranked #1 in Trump Token Event Deposits $6.3M TRUMP to Binance – A Signal for a Sell-Off? A whale ranked #1 in a major Official Trump (TRUMP) token holder event has deposited 2.2 million TRUMP, worth $6.29 million, to Binance. AmberCN reported this transfer occurred approximately 10 minutes ago. Such deposits to exchanges often signal a potential sell-off. Whale Ranked #1 in Trump Token Event: A Detailed Look The whale, which held the top position in an event for major TRUMP token holders, moved a substantial amount of the cryptocurrency to Binance. This action has caught the attention of market analysts. Many interpret large exchange deposits as a precursor to selling. The event itself likely involved rewards or recognition for top holders, making this whale’s move particularly significant. Understanding the context is crucial. The Official Trump (TRUMP) token has seen volatile price action since its launch. Whale movements can heavily influence its market dynamics. This specific whale held a top ranking, suggesting a deep involvement with the project. The deposit of $6.29 million represents a large portion of their holdings. Market Impact of the $6.3M TRUMP Deposit to Binance The immediate market reaction to the TRUMP token whale deposit was a slight dip in price. However, the broader impact remains to be seen. Large sell orders can create downward pressure. This is especially true for tokens with lower liquidity. The whale’s deposit to Binance, a major exchange, increases the potential for a rapid sale. Analysts are watching for further movements. If the whale sells the entire deposit, it could trigger a more significant price correction. On the other hand, the whale might be repositioning their portfolio. The event that ranked this whale #1 may have provided a strategic advantage. The timing of the deposit is also noteworthy. It comes amid a period of heightened interest in politically-themed tokens. Why Whale Deposits to Exchanges Matter Whale deposits to exchanges are a key metric in crypto analysis. They often indicate an intention to sell. This is because whales typically store assets in private wallets for security. Moving them to an exchange wallet suggests a pending transaction. The size of this deposit makes it a significant signal. Exchange deposits often precede sell orders. Large deposits can impact market sentiment. Whale behavior is closely tracked by traders. Token liquidity determines the price impact. The whale’s ranking in the event adds another layer. It suggests this is not a casual holder. This is a major player with potentially strategic motives. The deposit could be for profit-taking or rebalancing. It could also be for staking or other DeFi activities. However, the most common interpretation remains a potential sale. Official Trump (TRUMP) Token: Background and Context The Official Trump (TRUMP) token launched with significant fanfare. It quickly attracted a dedicated community. The token’s value has fluctuated with political news and market trends. Events for top holders are common in such projects. They aim to reward loyalty and encourage holding. The whale ranked #1 in this event likely received substantial benefits. The token’s market cap and trading volume have seen periods of high activity. Whale movements can disproportionately affect smaller cap tokens. This makes the $6.3M deposit a critical event for TRUMP token holders. The token’s future depends on continued community support and adoption. Large sell-offs can undermine confidence. Timeline of the Whale’s Activity According to AmberCN, the deposit happened approximately 10 minutes before the report. This rapid reporting highlights the speed of crypto news. The whale’s previous activity is not fully public. However, their #1 ranking suggests consistent holding or active participation. The deposit to Binance marks a clear shift in strategy. Traders are now monitoring the Binance wallet for sell orders. If the whale executes a sale, it will be visible on-chain. This transparency is a double-edged sword. It allows for informed trading but also creates volatility. The whale’s next move will be closely watched. Expert Analysis on the TRUMP Token Whale Deposit Market experts view this deposit as a bearish signal. However, they caution against overreaction. “Whales often test the market with small deposits,” says a crypto analyst. “A $6.3M deposit is not small. It suggests a serious intention.” The analyst adds that the whale’s ranking makes the move more impactful. Another expert notes the psychological impact. “Seeing a top-ranked whale sell can trigger panic selling among smaller holders. This can amplify the price drop.” The key is to watch for actual sell orders, not just deposits. The whale may have multiple reasons for the move. Tax planning, portfolio diversification, or a change in strategy are all possibilities. The event that ranked the whale #1 may have provided a liquidity event. Some events require participants to hold tokens for a period. Once the event ends, participants may be free to sell. This could explain the timing of the deposit. The whale may have been waiting for the event to conclude. Conclusion The deposit of $6.3 million in TRUMP tokens to Binance by a whale ranked #1 in a token holder event is a significant development. It signals a potential sell-off that could impact the token’s price. The whale’s actions are a key indicator for market sentiment. Traders and holders should monitor the situation closely. The TRUMP token whale deposit highlights the influence of large holders in the crypto market. Understanding these movements is essential for informed decision-making. FAQs Q1: What does it mean when a whale deposits tokens to an exchange? A whale depositing tokens to an exchange often indicates an intention to sell. It is a common precursor to a sell order, as tokens are moved from private storage to a trading platform. Q2: How does the whale’s #1 ranking affect the significance of the deposit? The whale’s top ranking in a TRUMP token event suggests they are a major holder with strategic importance. Their actions carry more weight and can influence market sentiment more than a random whale. Q3: What is the potential impact on the TRUMP token price? A large sell order from this whale could create downward pressure on the TRUMP token price. The impact depends on market liquidity and whether other traders follow suit. Q4: Should I sell my TRUMP tokens because of this news? This is not financial advice. The whale’s deposit is a signal, but not a certainty. You should conduct your own research and consider your risk tolerance before making any trading decisions. Q5: How can I track whale movements in real-time? You can use on-chain analytics tools like AmberCN, Whale Alert, or Nansen to track large transactions and whale movements. These platforms provide real-time alerts for significant deposits and withdrawals. This post Whale Ranked #1 in Trump Token Event Deposits $6.3M TRUMP to Binance – A Signal for a Sell-Off? first appeared on BitcoinWorld .
24 Apr 2026, 10:02
KelpDAO Update: Recovers 73,700 ETH, rsETH Gap Still Near 89,500 ETH
KelpDAO has recovered 73,700 ETH from the rsETH incident, reducing the total shortfall from 163,200 ETH to about 89,500 ETH. Over 43,500 ETH in commitments have come from key players like Aave, Mantle, and Lido Finance to support recovery efforts. New proposals, including a structured recovery vault and liquidity backstops, aim to manage bad debt and stabilize the crypto ecosystem. KelpDAO has shared a fresh update on its ongoing recovery efforts following the recent rsETH incident. The team confirmed that a significant portion of funds has been recovered, though a large gap still remains. The update comes as multiple crypto projects continue to coordinate support under the “DeFi United” initiative. According to KelpDAO, the initial shortfall stood at 163,200 ETH after the incident. Since then, recovery efforts have brought back 73,700 ETH. This includes around 40,300 rsETH, equal to roughly 43,000 ETH, recovered directly by Kelp. In addition, the Arbitrum Security Council secured another 30,700 ETH. After these steps, the remaining shortfall now stands at about 89,500 ETH. KelpDAO Hack Recovery Backed by Defi United The recovery process has involved close coordination with several major players in the crypto ecosystem. Teams from Aave, EtherFi, Lido Finance, Golem, Mantle, Frax Finance, and LayerZero have all contributed in different ways. KelpDAO noted that more announcements are expected as discussions continue and contributions are formalized. Kelp and @aave have been working closely with ecosystem partners since April 18 to coordinate a recovery effort for rsETH holders. We want to share some factual statements about where we are, progress made, and the next steps. @ether_fi @ethena @LidoFinance @golemproject … pic.twitter.com/iwLcCcvIov — Kelp (@KelpDAO) April 24, 2026 Out of the remaining gap, confirmed public commitments have reached about 43,500 ETH so far. These pledges have come from Mantle, Aave founder Stani Kulechov, EtherFi, Lido, and Golem. KelpDAO said it is working directly with partners to finalize these contributions and move closer to closing the deficit. The team has added that rsETH holders remain the top priority. It added that updates will continue as more commitments are confirmed and funds are secured. The broader goal is to stabilize the system without putting pressure on users of any single protocol. At the same time, new ideas are being discussed within the Aave community to handle the situation in a structured way. Marc Zeller has proposed that instead of asking for donations, create a dedicated vault called “DeFi United ETH.” Under this plan, Aave’s wETH income would be redirected into the vault, with a capped annual yield of 5 percent. The proposal also includes tokenizing the vault deposits into a tradable asset named “AaveETH.” This would allow users to participate and also gradually cover the deficit through both interest and principal repayments. Zeller suggested opening the vault to public deposits and setting its size based on the worst-case shortfall. He believes that such a model could have raised funds quickly if implemented earlier. He also pointed out that Aave has strong revenue streams, while its DAO and Labs hold large reserves. In his view, these resources could help resolve the issue and reduce the risk of wider market panic. Zeller added that he would commit most of his own ETH to the vault if the plan moves forward. Along with this, Mantle has proposed using its treasury to provide a liquidity backstop. This support would help Aave manage bad debt created during the incident. The issue arose when attackers used unbacked tokens as collateral, which led to an imbalance across the system. By offering a loan, Mantle aims to stabilize the market and prevent forced liquidations. Such liquidations could have pushed prices lower and increased losses. Note that this proposal forms part of a wider industry effort to contain the damage and restore balance. Other contributors have also come forward with support. Lido Finance has committed 2,500 stETH to a dedicated relief fund. Several foundations and ecosystem players are now working together to ensure a coordinated response. Support for the plan has extended beyond protocol teams. Ben Zhou, co-founder and CEO of Bybit, has publicly backed Mantle’s proposal. He said the exchange would vote in favor of the plan as a major supporter of Mantle. Zhou noted that the crypto industry had come together during previous crises, including incidents involving Bybit, and said similar cooperation remains important now. The list of participants in the DeFi United effort continues to grow. It includes Aave, EtherFi Foundation, Lido DAO, Golem Foundation, Ink Foundation, LayerZero, Mantle, Arbitrum, Frax Finance, Ethena, Tydro, and Golem Factory.
