With bitcoin gliding above the $94,000 mark, long-slumbering hoards have begun 
to stir with growing regularity. On Friday, 12 distinct legacy wallets—dormant 
for nine years and five months—dispatched 1,200 BTC, their inaugural move 
since creation. 1,200 Sleeping Bitcoins From 2015 Wallets Migrated Into New 
Structures Bitcoin.com News chronicled the revival of inactive coins two days 
[…]

12 Legacy Bitcoin Wallets Move 1,200 BTC After 9 Years of Silence

Bitcoin is finally starting to decouple from Stocks, says SkyBridge capital 
CEO and former Trump insider Anthony Scaramucci.

Exclusive: Scaramucci warns tariffs could trigger recession, boost Bitcoin and Europe

The registration of NEAR ETF by Bitwise could significantly enhance 
institutional participation in altcoins, boosting market liquidity.
The post Bitwise registers first NEAR ETF in US as institutional interest in 
altcoins grows appeared first on Crypto Briefing.

Bitwise registers first NEAR ETF in US as institutional interest in altcoins grows

An official of the Swiss National Bank dismissed calls for the institution to 
add Bitcoin to its reserves as a hedge against the ongoing macroeconomic 
turmoil.
According to an April 25 Reuters report, Swiss National Bank Chairman Martin 
Schlegel said that &#8220;cryptocurrency cannot currently fulfil the requirements 
for our currency reserves&#8221; during a shareholder meeting in Bern earlier today. 
The comments come amid mounting pressure from the local crypto industry to add 
Bitcoin (BTC) to the central bank&#8217;s reserves.
Campaigner Luzius Meisser, a board member of cryptocurrency broker Bitcoin 
Suisse, told Reuters that &#8220;holding bitcoin makes more sense as the world 
shifts towards a multipolar order.&#8221; He claimed that the need is even more dire 
now that &#8220;the dollar and the euro are weakening.&#8221;
This is not the first time Schlegel has pushed back against the idea. Reports 
from early March quoted Schlegel saying that he doesn&#8217;t want to make Bitcoin a 
reserve asset in Switzerland, citing a lack of stability, liquidity concerns 
and security risks.
_**Related:**__**Swiss canton of Bern votes to study Bitcoin mining 
feasibility**_
## Switzerland&#8217;s campaign for a Bitcoin reserve
On the last day of 2024, the Swiss Federal Chancellery initiated a proposal to 
constitutionally mandate the Swiss National Bank to hold Bitcoin on its 
balance sheet. The proposal needs to gather 100,000 signatures to trigger a 
referendum in Switzerland.
_Signature collection document. Source:__InitiativeBTC.ch_
The initiative requests to change the third paragraph of Article 99 of the 
constitution. The relevant text currently states:
&gt; &#8220;The Swiss National Bank shall create sufficient currency reserves from its 
&gt; revenues; part of these reserves shall be held in gold.&#8221;
If successful, the campaign would result in adding &#8220;and in Bitcoin.&#8221; to the 
end of the paragraph. The initiative saw the participation of the Swiss 
Bitcoin nonprofit think tank 2B4CH, which was responsible for preparing and 
submitting the documents. 2B4CH had some ties to industry heavyweights, with 
Giw Zanganeh, vice president of energy and mining at leading stablecoin issuer 
Tether, helping launch the campaign.
_**Related:**__**Crypto bank Sygnum hits unicorn status with new $58M raise**_
## The campaign is still ongoing
Meisser claims that holding Bitcoin would free the central bank from the 
political influence of its foreign currency holdings, most of which are in US 
dollars and euros. According to him, &#8220;politicians eventually give in to the 
temptation of printing money to fund their plans, but bitcoin is a currency 
that cannot be inflated through deficit spending.&#8221; 2B4CH founder and chairman 
Yves Bennaim told Reuters:
&gt; &#8220;We are not saying &#8212; go all in with bitcoin, but if you have nearly 1 
&gt; trillion francs in reserves, like the SNB does, then it makes sense to have 
&gt; 1-2% of that in an asset that is increasing in value, becoming more secure, 
&gt; and that everyone wants to own.&#8221;
Switzerland is a hub for blockchain enterprises, with its &#8220;Crypto Valley&#8221; in 
the town of Zug being the location where Ethereum was founded. The nation 
continues to generate crypto initiatives, with global grocery giant Spar 
rolling out Bitcoin-based payments in a Swiss city earlier this month.
The crypto Valley surpassed the $593 billion valuation mark, showcasing the 
growth trajectory of the region&#8217;s blockchain industry in 2024. Last year, the 
area saw the emergence of 17 crypto startup unicorns.
_**Magazine:**__**Crypto Valley and the Crypto Oasis: Ralf Glabischnig**_

Swiss National Bank chief dismisses Bitcoin reserve calls

Crypto market makers: always essential, occasionally controversial, frequently 
misunderstood. It’s a thankless task, but market makers – or MMs as it’s 
easier to say – aren’t in it for the plaudits. They treat their duty as a 
business, cos that’s exactly what it is: the business of keeping crypto 
markets ticking over around the clock. In practical terms, this means 
supplying the liquidity and matching the bids and asks to ensure there’s 
always a buyer or seller available. And while a tranche of crypto traders will 
continue to misunderstand the role that MMs play, the token projects that 
enlist their services understand the vital role of market makers – 
particularly on decentralized exchanges, where liquidity is typically lower 
than on their centralized counterparts. As for assessing the capabilities of 
the best market makers currently doing their thing on crypto’s frontlines, 
it’s not as simple as tallying up partner count and exchange integrations. 
While these metrics are worthy of consideration, they don’t capture the full 
picture. Qualitative factors such as service quality and client support are 
just as vital in determining which market makers are awesome and which are 
merely mediocre. Through combining measurable data with intangible strengths, 
however, we’ve identified the best crypto market makers in 2025, and they are 
as follows… Cumberland Cumberland, a division of DRW Trading, brings a level 
of maturity to the crypto market-making space that’s hard to match. It’s the 
suit-and-tied, serious businessman in the room: here to talk numbers, not 
shill your latest memecoin. Since entering the crypto scene in 2014, the 
Chicago-based Cumberland has become a trusted partner for institutional 
players seeking deep liquidity. Its tailored market-making solutions can be 
applied to assets ranging from Bitcoin to emerging altcoins. Specializing in 
OTC trades and large-block transactions, Cumberland caters to hedge funds, 
exchanges, token projects, and anyone else needing to execute high-volume 
trades without crashing the market. Its robust risk management practices have 
kept it free from the pitfalls that less seasoned market makers have 
occasionally fallen afoul of. Known for its steady, unflappable approach, 
Cumberland ensures order book stability even during volatile market 
conditions, making it the preferred choice for institutions that need a 
professional market maker to get the job done reliably and while ticking all 
the right regulatory boxes. DWF Labs DWF Labs is a veritable heavyweight in 
crypto market making, which remains its bread and butter despite its 
flourishing advisory and OTC services. Its core strength lies in providing 
liquidity for a vast network of over 700 partners. Indeed, we’re fast 
approaching a stage where it’s easier to list the projects that haven’t 
utilized DWF at some stage for MM purposes. DWF Labs are everywhere, and have 
rightly earned a rep as the industry’s most reliable market maker, keeping the 
order books ticking over whatever the macro outlook. Operating across more 
than 60 centralized and decentralized exchanges, DWF Labs ensures tight bid- 
ask spreads for tokens ranging from micro-caps to majors and from memecoins to 
established blue chips. Beyond liquidity, DWF Labs offers a comprehensive 
suite of web3 services, allowing its clients to combine its market-making with 
VC investments or short-term liquidity to support token launches. This 
holistic approach makes it a go-to for emerging projects that don’t just need 
liquidity, but also an experienced shoulder to lean on and support them 
through a critical stage of their life cycle. Vortex Vortex is a lesser-known 
but no less accomplished market maker, with its proprietary algorithms giving 
it the edge when it comes to efficiently narrowing that all-important bid-ask 
spread. In volatile markets, Vortex’s tech has proven adept at handling 
turbulence, dampening volatility while deepening liquidity for its clients. As 
a newer player in the market making sector, Vortex is eager to please, which 
means going the extra mile to keep its clients content. In addition to 
optimizing liquidity across more than 50 integrated exchanges, Vortex offers 
arbitrage services and helps projects ensure exchange listings at a discounted 
rate. It’s got the connections, it’s got the willpower, and when it comes to 
market making, it’s got the algos that will allow traders and token projects 
alike to maximize value from every swap. Wintermute Wintermute is a market- 
making veteran and remains a major player, boasting a lifetime trading volume 
of more than $600 billion. Active on over 50 CEXs and DEXs, including giants 
like Coinbase, Kraken, and Uniswap, Wintermute operates seamlessly behind the 
scenes to keep markets liquid and efficient. While its largest volumes come 
from tier-one CEXs, Wintermute also supports onchain liquidity for the likes 
of dYdX perpetual futures and Uniswap pools. Its proprietary algorithms, 
though kept under wraps, are widely respected for maintaining market flow 
during challenging conditions. Wintermute’s understated confidence and 
reliability have earned it an unmatched reputation, making it a crypto market 
cornerstone. While capable of occasionally running into controversy, when you 
zoom out, Wintermute has been a net good for DeFi and CeFi since its 
inception. GSR London loves churning out crypto market makers, and GSR is a 
prime example of the city’s influence on global markets. GSR is plugged into 
over 60 exchanges and provides liquidity for a combination of emerging token 
projects and established digital assets. Its decade-long presence in the 
industry has given it the expertise to adroitly navigate the complexities of 
crypto markets. Through bull times and bear, GSR’s seen it all and kept its 
clients ticking over with the liquidity they need to make it through the next 
cycle and beyond. GSR earns kudos for its transparency, offering clients daily 
reports with detailed KPIs and performance metrics. This openness ensures 
projects are kept in the loop on everything from order book depth to slippage 
rates. Through focusing on fair price discovery and narrow bid-ask spreads, 
GSR gets the job done efficiently while keeping its head below the water. Like 
the best market makers, it understands that its job is to swerve the 
limelight, allowing its clients to shine. Amber Group Amber Group has some 
impressive stats to its name: $5 billion in daily volume across 200+ tokens, 
which account for over 3% of global crypto trading activity. With one foot in 
CeFi and the other DeFi, Amber Group straddles the industry like a colossus, 
combining high uptime with efficient algorithms to deliver deep liquidity. Its 
team of sharp minds adds intellectual heft to its operations, making it a 
formidable player in the market-making space. Like DWF Labs, Amber Group 
offers a full suite of web3 services, from advisory support for token issuance 
to lifecycle management. Launching a token is a complex endeavor, and Amber 
Group’s expertise helps projects navigate this process with precision, 
ensuring a successful rollout and sustained market activity. For teams seeking 
a seasoned partner they can rely on through thick and thin, Amber Group has 
got it locked down. Liquidity Is King Market makers aren’t in the business of 
inflating or deflating token prices: they’re here to provide the liquidity 
that sets the stage for everything else. Their support for buy and sell orders 
enables price discovery, helps to grow volume, and provides the sort of round- 
the-clock action that prompts listings on larger exchanges. In theory, you 
could go it alone and launch a token without a market maker onboard. But 
unless you’ve hit upon a viral memecoin that’s headed to a billion, or devised 
a radical new liquidity-growing tokenomic model, your odds of making it into 
the next month sans MM are vanishingly small. Market makers may not be 
mandatory, but they’re highly recommended. They serve a stabilizing force 
during those critical early days, helping projects weather the initial 
volatility and build a foundation for long-term growth. No market maker, no 
moon. Choosing to employ the services of a market maker is thus a no-brainer. 
Choosing which market maker to utilize is harder – but the foregoing six 
should form your starting point for reaching the right decision. Image by 
Matthias Wewering from Pixabay

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