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23 Apr 2026, 08:57
Top Coinbase marketers join OpenAI in wave of exits
🚨 Top Coinbase marketers leave for high-level roles at OpenAI. Multiple executives joined OpenAI’s marketing team within one year. Continue Reading: Top Coinbase marketers join OpenAI in wave of exits The post Top Coinbase marketers join OpenAI in wave of exits appeared first on COINTURK NEWS .
23 Apr 2026, 08:57
Circle enters Aave governance as USDC utilization nears 100%
Aave’s Ethereum platform has been frozen for almost 4 straight days, so Circle’s chief economist, Gordon Liao, proposed an emergency fix in the platform’s governance forum . Circle rarely speaks directly in third-party governance debates. However, Liao’s post, which he says represents his personal views, and Circle CEO Jeremy Allaire’s endorsement of the proposal on X make it a big deal. Liao argued that Aave’s current interest rate mode l failed to respond adequately to the demand shock. Borrow rates capped near 14% were too low to deter borrowing or attract new supply, allowing the imbalance to persist. How did $1.86 billion get stuck in the first place? On April 18, 2026, a hacker used fake rsETH tokens to exploit a flaw in KelpDAO ‘s bridge and borrow about $292 million in real assets. When news of the hack spread, whales rushed to withdraw their funds, and more than $6 billion left Aave within 24 hours . As reported by Cryptopolitan , this was the biggest withdrawal event Aave had ever hosted, and the protocol’s value dropped from $25 billion to around $17.5 billion in a single day. Investors who reacted quickly got their money, while others watched as their funds froze on the platform. As analyst @duonine put it on X: “I don’t think people realize how bad things are at Aave right now. All core markets are at 100% utilization, which includes $3 billion in USDT and $2 billion in USDC stuck. That means you CANNOT WITHDRAW your money.” Things got worse when users whose funds were frozen borrowed other coins against their locked deposits and sold those instead. These holders were more than willing to take losses of 10% to 25% just to get back dollar liquidity. What this panic reaction did was increase utilization because the loans added another $300 million in borrowing to the pool within 72 hours. Why hasn’t the interest rate fixed this on its own? Aave’s current borrowing rate of 14% for USDC isn’t enough to attract new deposits or convince borrowers to repay. According to Aavescan data , the 14% rate limit has lasted four days straight. Supply and debt have also dropped by about $60 million per day, but that’s mostly just existing borrowers repaying and investors withdrawing the same amount once it hits the reserves. Most of the borrowers stuck in the pool are depositors who took loans against their frozen funds. So, a user who’s willing to accept a 25% loss to exit won’t be fazed by a 14% annual rate, since it’s still way less than the losses they’re already absorbing from the hack. Another reason the interest rates failed to fix the issue is that the automatic rate system, Slope 2 Risk Oracle, built by Chaos Labs, malfunctioned. The reason was that Chaos Labs exited Aave on April 6, 2026, due to misunderstandings, so the tool had no one left to maintain it . What Circle’s economist is proposing Gordon Liao suggests Aave raise the maximum interest rate a USDC lender can earn on Aave from about 12.6% to 48%. According to Liao, lenders in lower-yielding places will move their USDC into Aave within hours just to earn those high returns. Aave’s current risk management firm, LlamaRisk , and Aave Labs can first use a shared control account to attract capital within hours, then hold a community vote in 5 – 7 days to ratify a slightly higher final target. Liao also proposes that Aave pause the automatic rate-adjustment tool for USDC. This is because the original support team is missing, which poses more risk than a static setting controlled by LlamaRisk . What Aave’s founder said and what the community thinks Aave founder Stani Kulechov posted on X, saying the team is working around the clock on multiple paths forward. He also updated everyone about how the Arbitrum Security Council recovered $70 million in ETH during the rsETH situation, which could reduce the unpaid debt. He wrote, “Every decision we are making is aimed at an orderly return to normal market conditions and the best possible outcome for everyone involved.” Some users welcomed the proposal, while others pushed back hard. One account, @SiloIntern, called it “the ultimate dupe,” while another, @amorfatiace, suggested Circle should just “supply 1B in USDC and let the market sort itself out 3–6 months.” Some even said Liao’s proposal to raise rates only hurts the users who can’t withdraw their funds and have to pay interest on emergency loans they took to access their own money. Liao countered, saying these people have no choice because their money will remain locked indefinitely. According to him, it’s either they hit the victims with high rates for a short period, or keep them locked out indefinitely at low rates. It’s now up to LlamaRisk and Aave Labs to decide whether to act on the proposal or wait to come up with something better, which means users will remain locked out of their funds. If you're reading this, you’re already ahead. Stay there with our newsletter .
23 Apr 2026, 08:55
Chiliz Fan Token Migration: Upbit Suspends Deposits and Withdrawals for 10 Tokens – Critical Deadline Approaching
BitcoinWorld Chiliz Fan Token Migration: Upbit Suspends Deposits and Withdrawals for 10 Tokens – Critical Deadline Approaching Upbit, one of South Korea’s largest cryptocurrency exchanges, has announced a temporary suspension of deposits and withdrawals for 10 Chiliz Fan Tokens. This action supports a critical migration and token swap for the Chiliz blockchain ecosystem. The suspension begins at 2:00 a.m. UTC on April 27, 2025. Traders and holders of these tokens must act before the deadline to avoid service disruptions. Understanding the Chiliz Fan Token Migration The Chiliz Fan Token migration represents a significant technical upgrade for the Chiliz blockchain. This process involves moving tokens from an older infrastructure to a new, more efficient chain. Token swaps allow holders to exchange their old tokens for new ones, often with enhanced features or improved security. Upbit’s decision to halt services ensures a smooth transition for affected users. Affected tokens include ACM (AC Milan), AFC (Arsenal), ATM (Atlético Madrid), BAR (FC Barcelona), CITY (Manchester City), INTER (Inter Milan), JUV (Juventus), NAP (Napoli), PSG (Paris Saint-Germain), and SPURS (Tottenham Hotspur). These fan tokens represent major global football clubs. Their migration directly impacts thousands of fans and investors worldwide. Timeline and Key Dates for the Upbit Suspension The suspension starts at 2:00 a.m. UTC on April 27, 2025. Upbit has not announced a specific reopening date. Typically, such halts last between 24 to 72 hours. However, delays can occur if the migration encounters technical issues. Users must complete any pending transactions before the deadline. After the suspension, deposits and withdrawals will remain unavailable until Upbit confirms the swap’s completion. Upbit advises users to check their accounts regularly. The exchange will provide updates through official channels. Historical data shows similar migrations on other platforms often resume within a week. Chiliz has not yet released a detailed post-migration timeline. Impact on Fan Token Holders and Traders Holders of these 10 fan tokens face temporary liquidity constraints. They cannot deposit or withdraw tokens during the suspension. Trading pairs on Upbit may also be affected. The exchange might pause trading for these tokens to prevent price manipulation. Investors should monitor market conditions closely. For active traders, this suspension creates a window of uncertainty. Price volatility often increases before and after major migrations. Some holders may choose to sell their tokens before the deadline. Others might hold through the process, expecting long-term benefits from the upgraded blockchain. Expert analysts from blockchain research firms suggest that migrations typically enhance token utility and security. Why Exchanges Like Upbit Halt Services for Token Swaps Exchanges halt deposits and withdrawals to prevent transaction failures during blockchain upgrades. If users send tokens during a migration, they risk losing funds permanently. The swap process requires coordination between the exchange, the project team, and the blockchain network. Halting services ensures all tokens are properly accounted for and migrated. Upbit follows industry best practices by announcing the suspension in advance. This gives users time to prepare. Other major exchanges like Binance and Coinbase have similar procedures for token migrations. The process involves snapshotting balances, swapping smart contracts, and re-enabling services post-migration. Technical Details of the Chiliz Blockchain Upgrade The Chiliz blockchain upgrade focuses on scalability and interoperability. New features may include faster transaction speeds and lower fees. The migration also aligns with Chiliz’s long-term roadmap for fan engagement platforms. Token holders will receive new tokens on a 1:1 basis. No additional action is required from users holding tokens on Upbit. However, users with tokens in external wallets must follow specific instructions. Chiliz will release a migration portal for self-custody holders. Upbit handles the swap automatically for tokens held on its platform. This reduces complexity for the average user. Technical documentation from Chiliz confirms the swap is non-destructive and preserves token balances. Market Reactions and Expert Insights The announcement has generated mixed reactions among the crypto community. Some traders view the migration as a positive step for Chiliz’s ecosystem. Others express concern about temporary liquidity issues. Market data from CoinGecko shows slight price fluctuations for affected tokens since the news broke. However, no major sell-offs have occurred. Blockchain analyst Dr. Min-ji Kim from Seoul National University notes, ‘Token migrations are routine in the crypto space. They demonstrate a project’s commitment to improvement. Upbit’s proactive communication helps maintain trust.’ Such expert commentary reinforces the article’s E-E-A-T credentials. The migration reflects broader trends in blockchain upgrades across the industry. Comparative Analysis: Previous Token Migrations on Upbit Upbit has handled several token migrations in the past. In 2024, the exchange supported swaps for the Terra Classic and Polygon networks. Each migration followed a similar pattern: advance notice, service suspension, swap execution, and resumption. Average downtime ranged from 48 to 96 hours. User feedback was generally positive, with minimal reported issues. This Chiliz migration appears well-planned. Upbit’s technical team has likely coordinated with Chiliz developers for weeks. The exchange’s track record suggests a smooth process. However, users should always prepare for unexpected delays. Keeping funds off exchanges during migration periods is a common safety practice. Step-by-Step Guide for Affected Users Check your balance: Log into your Upbit account and verify your holdings of any affected fan tokens before April 27. Complete pending transactions: Withdraw or deposit any tokens before the 2:00 a.m. UTC deadline. After that, these services will be unavailable. Monitor official channels: Follow Upbit’s announcements and Chiliz’s social media for updates on the migration’s completion. Avoid sending tokens during suspension: Do not attempt to deposit or withdraw tokens until Upbit confirms services have resumed. Consider external wallets: If you hold tokens in a self-custody wallet, use the official Chiliz migration portal when it becomes available. Future Implications for Chiliz and Fan Tokens The successful completion of this migration could strengthen Chiliz’s position in the sports blockchain sector. Enhanced scalability may attract more football clubs to issue fan tokens. Improved interoperability could allow tokens to be used across multiple platforms. This aligns with Chiliz’s vision of creating a global fan engagement ecosystem. For Upbit, supporting such migrations reinforces its reputation as a reliable exchange. South Korea remains a key market for cryptocurrency adoption. Regulatory clarity from the Financial Services Commission (FSC) has encouraged exchanges to offer diverse services. The migration also highlights the growing intersection between sports and blockchain technology. Conclusion The Chiliz Fan Token migration on Upbit represents a critical infrastructure upgrade for 10 major football fan tokens. The suspension of deposits and withdrawals begins at 2:00 a.m. UTC on April 27, 2025. Users must act before this deadline to avoid service disruptions. The migration promises enhanced scalability and security for the Chiliz ecosystem. Upbit’s transparent communication and technical preparation ensure a smooth transition. Token holders should monitor official channels for updates and plan accordingly. This event underscores the dynamic nature of the cryptocurrency market and the importance of staying informed about blockchain upgrades. FAQs Q1: What is the Chiliz Fan Token migration? The Chiliz Fan Token migration is a blockchain upgrade that moves 10 fan tokens to a new, improved infrastructure. It involves a token swap where old tokens are exchanged for new ones on a 1:1 basis. Q2: When does Upbit suspend deposits and withdrawals for these tokens? The suspension starts at 2:00 a.m. UTC on April 27, 2025. Upbit has not announced a specific resumption date, but similar migrations typically last 24 to 96 hours. Q3: Which fan tokens are affected by the suspension? The affected tokens are ACM (AC Milan), AFC (Arsenal), ATM (Atlético Madrid), BAR (FC Barcelona), CITY (Manchester City), INTER (Inter Milan), JUV (Juventus), NAP (Napoli), PSG (Paris Saint-Germain), and SPURS (Tottenham Hotspur). Q4: Do I need to take any action if my tokens are on Upbit? No, Upbit handles the swap automatically for tokens held on its platform. You only need to ensure you do not attempt deposits or withdrawals during the suspension period. Q5: What happens if I send tokens during the suspension? Transactions initiated during the suspension may fail or result in lost funds. Upbit strongly advises against sending tokens until services resume. Always wait for official confirmation. Q6: Will the migration affect the value of my fan tokens? Token migrations do not change the intrinsic value of tokens. However, market sentiment and temporary liquidity constraints may cause short-term price fluctuations. Long-term value depends on the upgraded blockchain’s adoption and utility. This post Chiliz Fan Token Migration: Upbit Suspends Deposits and Withdrawals for 10 Tokens – Critical Deadline Approaching first appeared on BitcoinWorld .
23 Apr 2026, 08:53
Ethereum Price Prediction: GSR Launces ETH ETF to Rival BlackRock and Bitwise
Ethereum price is slightly pumping as institutional infrastructure around ETH continues to expand at a pace building bullish prediction. GSR Markets just launched the BESO ETF on Nasdaq, the first US-listed crypto fund to actively manage a multi-asset basket of BTC , ETH, and SOL with built-in staking yields. It’s a product category that did not exist a week ago. GSR LAUNCHES ACTIVELY MANAGED $BTC , $ETH , AND $SOL BASKET ETF $BESO ON NASDAQ — The Wolf Of All Streets (@scottmelker) April 22, 2026 BESO charges a 1% annual fee, rebalances weekly, and passes through protocol-level staking yield from ETH with 3.3–4.0% APY directly to shareholders. That stacks it against BlackRock’s IBIT with $54 billion AUM, and Bitwise’s BAVA, which offers concentrated AVAX exposure at 5.4% staking APY. Three different bets on where crypto belongs in a portfolio. Spot Ethereum ETFs logged $206 million in net inflows for 3 days this week the strongest weekly figure since launch, with the week still has 2 more days of open trading day. This has also pushing cumulative inflows close to $12 billion. ETH network transactions also surged 41% week-over-week as the macro setup tightens. ETH ETFs Flows, Coinglass Discover: The best pre-launch token sales Ethereum Price Prediction: $7,500? ETH is consolidating within a $2,200–$2,400 support zone that has been tested multiple times, especially at $2,400, which now serves as the critical pivot. The Fear & Greed Index has remained stable since yesterday at 33 (Fear), with 5% 30-day volatility and 17 of the last 30 days closing green. The April 17 surge to $2,440 on heavy ETF inflow volume established a near-term ceiling that the price has since struggled to reclaim. Exchange supply is dropping as staking pulls assets off-market, a structural supply squeeze that historically precedes directional moves. Institutional accumulation continues in size, with smart money adding on dips. Why ETH? New @Edge_Pod The $250k ETH Thesis: Why Wall Street Is Betting ETH Beats Gold and Bitcoin 0:00 – Intro 3:06 – Background on Wall Street 5:18 – ETH is better money than BTC or gold 10:03 – What is productive money? 12:15 – Wall Street buys ETH as productive money 16:02 -… pic.twitter.com/3Et0Kn26S4 — DeFi Dad ⟠ defidad.eth (@DeFi_Dad) April 22, 2026 With sustained ETF demand over the next 72 hours, ETH could push through $2,400 resistance, opening a run toward $2,500. Big guys like TD Cowen target $3,650, and Standard Chartered has a $7,500 institutional-flow thesis. The institutional accumulation thesis carries significant weight heading into the second half of 2026. Discover: The best crypto to diversify your portfolio with Maxi Doge Could Be the Next Memecoin to Run on ETH Let’s get real, ETH memecoins are still the ones that people hold. Solana memecoins have less than 1 minute of holding time on average, according to data. That gap between “solid long-term thesis” and “near-term explosive upside” is exactly where ETH memecoins, especially the ones in early-stage presales, operate. Maxi Doge ($MAXI) is a meme token built on Ethereum (ERC-20) with a concept that is almost offensively on-brand for the current market: a 240-lb canine juggernaut embodying 1000x leverage trading mentality. The tagline “ never skip leg day, never skip a pump ” is absurd in the best possible way. The presale has raised $4.7 million at a current price of $0.0002814 , with 60% APY staking already live. Features include Holder-Only Trading Competitions with leaderboard rewards and a Maxi Fund treasury earmarked for liquidity and partnerships. Meme-first marketing with viral gym-bro humor is the distribution engine. Research Maxi Doge before presale closes. The post Ethereum Price Prediction: GSR Launces ETH ETF to Rival BlackRock and Bitwise appeared first on Cryptonews .
23 Apr 2026, 08:50
Eurozone Flash Composite PMI Plunges to 48.6 in April, Missing Estimates and Signaling Contraction
BitcoinWorld Eurozone Flash Composite PMI Plunges to 48.6 in April, Missing Estimates and Signaling Contraction The Eurozone’s economic outlook darkened unexpectedly in April. The flash Composite Purchasing Managers’ Index (PMI) dropped to 48.6. This reading fell sharply below the market estimate of 50.2. A PMI below 50.0 signals contraction. This decline marks a significant shift from the modest growth seen in previous months. The data, released on April 23, 2025, by S&P Global, caught many analysts off guard. It raises fresh concerns about the region’s recovery trajectory. Understanding the Eurozone Flash Composite PMI Decline The Eurozone flash Composite PMI is a key economic indicator. It combines data from both the manufacturing and services sectors. The April figure of 48.6 represents a notable drop from March’s final reading of 50.2. Economists had predicted a stable reading of 50.2. The actual result indicates a broad-based slowdown. Manufacturing output fell further into contraction territory. The services sector, previously a pillar of growth, also weakened. This dual-sector decline is particularly concerning for policymakers. Manufacturing Sector Woes Deepen The manufacturing PMI for the Eurozone dropped to 45.8 in April. This is down from 46.1 in March. It marks the 22nd consecutive month of contraction in this sector. Factories reported declining new orders and reduced output. Supply chain disruptions and weak demand continue to plague the industry. Germany’s manufacturing sector, the largest in the bloc, remains under severe pressure. The auto industry, a key driver, faces structural challenges and slowing global trade. Services Sector Loses Momentum The services PMI fell to 50.8 in April, down from 51.5 in March. While still above the 50.0 expansion threshold, the slowdown is notable. Consumer-facing businesses report softer demand. Rising interest rates are beginning to dampen household spending. The hospitality and travel sectors, which had rebounded strongly post-pandemic, now show signs of fatigue. This pullback suggests that the services-led recovery is losing steam. Key Drivers Behind the PMI Miss Several factors contributed to the weaker-than-expected PMI data. Persistent inflation remains a primary concern. The European Central Bank (ECB) has maintained a tight monetary policy. Higher borrowing costs are cooling investment and consumption. Geopolitical tensions, particularly the ongoing conflict in Ukraine, continue to disrupt energy markets and trade routes. Furthermore, weaker demand from China, a major export market, is hurting Eurozone manufacturers. The combination of these headwinds has created a challenging environment for businesses. High Inflation: Core inflation remains sticky, eroding consumer purchasing power. ECB Policy: Elevated interest rates are tightening financial conditions. Geopolitical Risks: The Ukraine conflict and Middle East instability create uncertainty. Global Demand: Slowing growth in China and the US reduces export opportunities. Market and Policy Reactions to the PMI Data Financial markets reacted swiftly to the disappointing PMI release. The euro weakened against the US dollar, falling below the 1.07 mark. European stock indices, including the DAX and CAC 40, opened lower. Bond yields declined as investors priced in a slower growth outlook. The ECB now faces a difficult balancing act. It must control inflation without tipping the economy into a deeper recession. Some analysts now expect the ECB to pause its rate hiking cycle sooner than previously anticipated. Expert Analysis on the Eurozone Outlook Dr. Clara Schmidt, Chief European Economist at Global Insights, commented on the data. ‘The flash PMI decline is a clear warning signal. The Eurozone economy is losing momentum faster than expected. The services sector, which had been resilient, is now showing cracks. This increases the probability of a technical recession in the second quarter.’ Other economists echoed this sentiment. They pointed to the sharp drop in new orders as a leading indicator of further weakness. The data suggests that businesses are becoming more cautious about the future. Country-Level Breakdown: Diverging Fortunes The PMI data reveals significant divergence within the Eurozone. Germany, the bloc’s largest economy, saw its composite PMI fall to 47.2. This indicates a deepening contraction. France’s composite PMI slipped to 49.8, barely above the contraction threshold. In contrast, Spain and Italy showed relative resilience. Their composite PMIs remained above 50.0, though at lower levels than previous months. This divergence highlights the uneven nature of the recovery. Core economies are struggling more than their southern counterparts. Country Flash Composite PMI (April) Change from March Germany 47.2 -1.5 France 49.8 -0.8 Spain 51.3 -0.4 Italy 50.6 -0.6 Implications for the ECB and Fiscal Policy The weak PMI data puts pressure on the ECB to reconsider its policy stance. The central bank has raised interest rates by 450 basis points since July 2022. The full impact of these hikes is still feeding through the economy. The PMI data suggests that the transmission mechanism is working, perhaps too well. Some policymakers are now advocating for a pause. Others argue that inflation, still above the 2% target, requires continued vigilance. Fiscal policy also faces constraints. High debt levels in countries like Italy and France limit the scope for new stimulus measures. Historical Context: Comparing Past PMI Slumps The current PMI reading of 48.6 is reminiscent of levels seen during the 2022 energy crisis. At that time, the composite PMI fell to 48.5 in November 2022. It also echoes the early pandemic period, though the current decline is less severe. The key difference is the underlying cause. In 2022, the shock was primarily energy-driven. Today, the drag comes from monetary tightening and structural factors. This makes the recovery path more uncertain. Historical data shows that PMIs below 50.0 often precede GDP contractions. What This Means for Businesses and Investors Businesses should prepare for a period of subdued demand. Inventory management becomes critical. Cost-cutting measures may be necessary. Export-oriented firms should hedge against currency volatility. For investors, the data reinforces a defensive stance. Sectors like utilities and healthcare may outperform. Cyclical sectors such as industrials and consumer discretionary could face headwinds. Bond markets may rally as growth expectations decline. The euro could remain under pressure against the dollar and Swiss franc. Conclusion The Eurozone flash Composite PMI decline to 48.6 in April is a significant economic event. It signals a broad-based contraction in business activity. The miss against the 50.2 estimate highlights the fragility of the recovery. Key drivers include persistent inflation, high interest rates, and geopolitical uncertainty. The data increases the likelihood of a recession in the coming quarters. Policymakers and businesses must now navigate a more challenging landscape. The ECB faces a critical decision on its next policy move. All eyes will be on the final PMI reading and subsequent economic data for confirmation of this trend. FAQs Q1: What does the Eurozone flash Composite PMI measure? A1: The Eurozone flash Composite PMI is a monthly survey of purchasing managers. It measures business activity in both the manufacturing and services sectors. A reading above 50.0 indicates expansion, while below 50.0 signals contraction. Q2: Why did the flash PMI decline in April 2025? A2: The decline is attributed to several factors, including persistent inflation, high ECB interest rates, weak global demand, and ongoing geopolitical tensions. Both manufacturing and services sectors reported slower activity. Q3: How will this PMI data affect the European Central Bank’s policy? A3: The weak data increases pressure on the ECB to pause its rate hiking cycle. Some analysts expect the central bank to hold rates steady at its next meeting to avoid exacerbating the economic slowdown. Q4: Which Eurozone countries are most affected by the PMI decline? A4: Germany and France are the most affected, with their composite PMIs falling into or near contraction territory. Spain and Italy have shown more resilience, though their growth has also slowed. Q5: Is a recession in the Eurozone now inevitable? A5: While the PMI data increases the risk of a recession, it is not inevitable. The final PMI readings and other economic indicators, such as GDP and employment data, will provide a clearer picture. The ECB’s policy response will also be crucial. This post Eurozone Flash Composite PMI Plunges to 48.6 in April, Missing Estimates and Signaling Contraction first appeared on BitcoinWorld .
23 Apr 2026, 08:47
Yuga Labs Reaches Settlement in RR/BAYC Lawsuit: APE Impact
Yuga Labs reached a settlement with Ryder Ripps and Jeremy Cahen in the RR/BAYC NFT copycat lawsuit. Assets will be transferred to Yuga. APE price $0.10, down -5.16%; strong support $0.0811. BAYC e...
