Author: James Wilson

China’s tax and financial regulators are steering banks toward blockchain technology as a tool for sharing tax data and improving credit access, with small and medium-sized enterprises at the centre of the push, as per local media reports. A joint policy notice from the State Administration of Taxation and the National Financial Regulatory Administration called on banks and taxpayers to standardize data sharing to reduce information asymmetry between tax authorities, banks and enterprises. The agencies also suggested improving credit models, enhancing approval efficiency, and increasing the supply of financing services to “honest, tax-paying enterprises.” The initiative builds on a framework…

Rwanda’s National Bank moved swiftly to remind the public that cryptocurrency transactions involving the Rwandan franc remain illegal, days after crypto exchange Bybit quietly added franc support to its peer-to-peer trading platform. The matter came to light after Bybit announced on Friday that the Rwandan franc could be used to buy and sell crypto through its P2P service. The central bank responded publicly on X two days later, making its position unambiguous. “Crypto-assets are NOT authorized for payments, FRW conversion, or P2P trading involving FRW under the current framework,” the NBR posted, urging citizens to avoid crypto due to “serious…

China’s Cyberspace Administration has ordered Apple to pull Jack Dorsey’s Bitchat from its China App Store, citing regulations that require apps with “social mobilization” capabilities to pass a government security assessment before launch. Summary The Cyberspace Administration of China told Apple to remove Bitchat from its China App Store and TestFlight beta, effective February 2026, a ban Dorsey disclosed publicly on April 5 The CAC cited Article 3 of its regulations governing apps with “public opinion or social mobilization capabilities,” which require a mandatory security review before deployment Bitchat, which runs entirely over Bluetooth mesh networks with no internet required,…

Bitcoin climbed above $70,200 on Monday for the first time since March 25, as a report that the US and Iran are negotiating a 45-day ceasefire sent risk assets sharply higher across global markets. Summary Bitcoin surged more than 3.5% on April 6, peaking at $70,200 after Axios reported that the US, Iran, and regional mediators are actively discussing a 45-day ceasefire The move triggered $273 million in short liquidations across crypto markets within 24 hours, according to Coinglass Markets remain cautious, with Polymarket giving the ceasefire roughly 30% odds by April 30, and a White House official confirming Trump…

More than $273 million in bearish crypto positions were unwound in under 24 hours on April 6, as reports of US-Iran ceasefire talks triggered a sudden and sharp shift in market sentiment. Summary Bloomberg reported that roughly $273 million in bearish crypto bets were unwound within 24 hours as ceasefire headlines hit, with short sellers accounting for the overwhelming majority of losses Ethereum led altcoin gains with a 5.1% move, while Bitcoin climbed more than 3% and the total crypto market cap crossed back above $2.5 trillion Rising open interest in both Bitcoin and Ethereum outpaced spot price gains, pointing…

Coinglass data shows Ethereum trapped in a tight “liquidation corridor,” with $1.414b in longs at risk below $2,040 and $889m in shorts exposed above $2,253. Summary Coinglass data show $1.414 billion in ETH longs at risk below $2,040 on major centralized exchanges. A move above $2,253 would flip the tape, exposing $889 million in short liquidations on the same venues. Recent heatmap studies suggest roughly $1.8 billion of ETH leverage is clustered in a tight band around current prices. If Ethereum (ETH) slides below $2,040, around $1.414 billion worth of long positions on major centralized exchanges could be forcibly liquidated,…

ETHGlobal Cannes 2026’s 10 finalists push AI agents, privacy infrastructure and on-chain prediction markets through projects like ENShell, DIVE, Corpus and VEIL VPN. Summary ETHGlobal has named 10 Cannes 2026 finalists pushing AI agents, privacy infrastructure and on-chain prediction markets across ENShell, DIVE, maki, Défi, ALMA, npmguard, VEIL VPN, PaintGlobal, EVM PORST and Corpus. Projects like ENShell, DIVE and Corpus show how autonomous agents can safely sign, verify and trade on-chain, while VEIL VPN builds a verifiable “no‑logs” network at the Internet’s encrypted edge. The finalists sit inside a maturing Ethereum hackathon circuit, where events like ETHGlobal routinely put up…

Chaos Labs is ending its three‑year Aave mandate after a $27m oracle fiasco, deep governance infighting, and mounting fears over who is legally liable when DeFi risk breaks. Summary Chaos Labs is terminating its Aave mandate after three years, citing a fundamental dispute over how the $27 billion lending protocol should manage risk. The move follows high‑profile exits by Aave Chan Initiative and BGD Labs, deepening governance turmoil at DeFi’s largest money market. Chaos also flags undefined legal liability for DeFi risk managers after recent oracle failures triggered tens of millions of dollars in erroneous liquidations on Aave. Chaos Labs,…

Binance faces renewed questions over its $4.3b post-plea cleanup as crime-monitoring staff depart and chief compliance officer Noah Perlman weighs an exit. Summary Total Bitcoin futures open interest rose 8.09% in 24 hours to $50.804b, according to Coinglass. Binance leads with $8.887b in open interest, followed by Bybit, Gate, and OKX. The build-up in leverage comes as BTC derivatives positioning has repeatedly signaled key turning points in past cycles. Bitcoin (BTC) futures traders added more than $3.8 billion in new leveraged positions over the past 24 hours, with total BTC contract open interest climbing 8.09% to $50.804 billion, derivatives data…

Polymarket will rebuild its core engine, introduce a hybrid CLOB, and launch Polymarket USD, a USDC‑backed stablecoin on Polygon aimed at cheaper, more institution‑friendly trading. Summary Prediction market Polymarket plans its “largest infrastructure upgrade” in the next 2–3 weeks, overhauling its matching engine and smart contracts. The upgrade will introduce a new hybrid CLOB model and a native stablecoin, Polymarket USD, pegged 1:1 to USDC on Polygon. The changes aim to cut gas costs, boost efficiency, and make the platform friendlier to institutions via EIP‑1271 and multi‑sig support. On‑chain prediction market Polymarket will roll out what it calls “the largest…