Decentralized AI startup Nous Research secured major investment for a LLM that&#8217;s open sourced and uses distributed resources.

Decentralized AI is coming to Solana, as Paradigm invests $50 million in Nous

Ethereum is trading above $1,700 after a volatile few weeks, with bulls now 
trying to reclaim higher levels and flip resistance into support. Despite 
lingering macroeconomic tensions and the ongoing trade standoff between the US 
and China, markets are beginning to price in optimism as investors anticipate 
progress in negotiations. This renewed sentiment has lifted risk assets like 
ETH, which is showing early signs of a potential breakout. Related Reading: 
Bitcoin Reclaims Key Levels – New ATHs May Be Closer Than Expected Analysts 
are closely watching Ethereum’s current price action, which suggests a 
possible shift in trend. Top analyst Daan shared a technical view on X, 
highlighting that ETH is attempting to retake its previous horizontal support 
around $1,750. If successful, this would mark the first time in months that 
Ethereum reclaims a key support level after previously rejecting it and 
setting lower lows. As Ethereum fights to regain lost ground, all eyes are on 
this critical level. A breakout here could lead to a renewed surge across the 
altcoin market, reinforcing growing speculation that the worst of the 
correction may already be behind us. Ethereum Bulls Attempt to Shift Market 
Structure Ethereum has rallied impressively, gaining over 32% from its local 
low of $1,383. This recovery has brought ETH to a critical price level, where 
bulls must hold and build momentum to break the broader downtrend that has 
defined much of 2024. A sustained move above current levels could mark a long- 
awaited shift in market structure, providing confidence that Ethereum is ready 
to trend higher over the medium term. However, broader macroeconomic forces 
continue to weigh heavily on investor sentiment. Ongoing trade tensions 
between the United States and China remain unresolved, with each new tariff 
threat adding further strain on global supply chains. These geopolitical 
pressures threaten to limit risk appetite, and any further escalation could 
stall Ethereum’s recovery. On the flip side, a diplomatic breakthrough could 
trigger a strong shift in investor positioning across all risk assets, 
including crypto. In the meantime, Ethereum must defend current levels to keep 
bullish momentum intact. Daan&#8217;s analysis highlighted that ETH is currently 
testing the $1,750 level, which previously acted as key support. If Ethereum 
can reclaim this horizontal zone, it would mark the first time in months that 
ETH retakes rather than rejects a critical level. Daan emphasized that daily 
closes above $1,750 are ideal and would confirm strength, potentially opening 
the door for a larger breakout. Related Reading: Ethereum Forms ‘A Huge 
Inverse Head &amp; Shoulders’ – $20K Target In Sight? ETH Price Holds Key Levels, 
Bulls Must Reclaim $2K Soon Ethereum is currently trading at $1,770, 
maintaining strength above the 4-hour 200 EMA—a key short-term indicator that 
has historically acted as both resistance and support during critical trend 
shifts. Bulls have managed to defend this level over the past few sessions, 
signaling growing confidence and momentum as Ethereum attempts to recover from 
its recent downtrend. Holding above the $1,700 zone is now essential to avoid 
triggering another wave of selling. This level has become the new battleground 
for bulls and bears, and continued consolidation above it may lay the 
groundwork for a broader rally. The next major objective is a decisive reclaim 
of the $2,000 level. A breakout above this threshold would mark a strong shift 
in sentiment and could trigger additional upside as sidelined buyers re-enter 
the market. Related Reading: Ethereum Adds 12% In 24 Hours – On-Chain Metrics 
Point To Modest Resistance Ahead However, caution remains warranted. A failure 
to hold current support would invalidate the recovery narrative and open the 
door to further losses. If Ethereum breaks below $1,700 with volume, it could 
revisit the $1,500 level, which has acted as a historical demand zone. That 
would reinforce a longer-term bearish structure and delay any hopes of a full- 
scale recovery. Featured image from Dall-E, chart from TradingView

Ethereum Attempts First Major Horizontal Reclaim In Months – Can Bulls Hold the Line?

US President Donald Trump&#8217;s first 90 days in office have been miserable for 
Bitcoin (BTC) and the broader cryptocurrency industry. Despite positive 
regulatory developments, culminating in the first-ever White House crypto 
summit on March 7, digital asset prices have been dragged down by the currents 
of trade war and fear of recession.
However, crypto saw a huge sentiment shift this week amid reports that Trump 
was backing off on his full-scale tariff war against China. It also didn&#8217;t 
hurt that Trump&#8217;s media empire, Trump Media and Technology Group, inked a deal 
with Crypto.com for its forthcoming Made in America exchange-traded funds 
(ETFs).
This week&#8217;s Crypto Biz newsletter covers renewed inflows into Bitcoin ETFs, a 
potential crypto venture backed by Cantor Fitzgerald, and Coinbase&#8217;s possible 
pursuit of a federal banking charter. It wraps up with a look at Tesla&#8217;s 
decision to hold its Bitcoin position despite a disappointing earnings 
quarter.
## Bitcoin ETFs see largest inflows since January
Capital is flowing back into US spot Bitcoin ETFs, highlighting a positive 
sentiment shift among institutional investors.
According to Glassnode data, the 11 spot Bitcoin ETFs registered $381.3 
million in net inflows on April 21, with the ARK21Shares Bitcoin ETF 
accounting for nearly a third of the total.
One day later, the 11 funds registered $912.7 million in net inflows, the 
largest since January when Bitcoin was trading at all-time highs. The 
ARK21Shares, Fidelity and BlackRock Bitcoin funds saw the largest inflows on 
April 22.
As billions flowed back into Bitcoin ETFs, spot BTC prices climbed back to 
$94,000 on April 23, pushing the total cryptocurrency market cap close to the 
$3 trillion mark again.
_Net inflows to US spot Bitcoin ETFs are surging again. Source:__Coinglass_
## Cantor Fitzgerald is backing $3B crypto venture: Report
Cantor Fitzgerald is reportedly in talks with Softbank, Tether and Bitfinex to 
establish a $3 billion crypto acquisition company called 21 Capital.
According to an April 23 report by the Financial Times, the new company aims 
to capitalize on the favorable crypto environment in the United States 
following US President Donald Trump&#8217;s election. It also seeks to emulate the 
success of Strategy, the business intelligence firm turned Bitcoin bank that 
has amassed more than 534,000 BTC.
The report suggested that stablecoin issuer Tether will contribute $1.5 
billion to the new venture. Softbank is expected to add $900 million and 
Bitfinex another $600 million.
21 Capital is reportedly eyeing another $350 million raise via convertible 
bonds alongside a $200 million private equity placement. The proceeds will 
reportedly be used to buy Bitcoin.
_Cantor Fitzgerald is led by Brandon Lutnick, the son of Howard Lutnick 
(right), who became President Trump &#8216;s Secretary of Commerce. Source: __White 
House_
## Coinbase weighs US banking license
Coinbase is considering applying for a United States federal bank charter, 
potentially signaling the cryptocurrency exchange&#8217;s intention to move into 
traditional banking services.
A spokesperson for Coinbase confirmed to Cointelegraph that the exchange was 
considering this option, but did not elaborate on the reasons why.
&#8220;This is something Coinbase is actively considering but has not made any 
formal decisions yet,&#8221; the spokesperson said.
A US federal bank charter is significant because it allows licensees to 
perform core banking activities, including deposit taking and lending. For 
crypto exchanges like Coinbase, obtaining such a charter could represent a 
major step toward integrating traditional banking with digital assets.
## Tesla HODLs Bitcoin despite earnings slump
Electric vehicle maker Tesla reported disappointing first-quarter earnings 
this week but opted to hold onto its Bitcoin investments, signaling that Elon 
Musk&#8217;s company still sees significant upside in digital asset prices.
Tesla&#8217;s net income plunged 71% in the first quarter, with revenue falling 9% 
and automotive sales down 20% year over year.
Tesla&#8217;s disappointing earnings highlight the folly of mixing business and 
politics, with the results partly attributed to Musk&#8217;s role in Trump&#8217;s White 
House.
Despite the earnings slump, Tesla held firm on its digital asset position, 
maintaining 11,509 BTC &#8212; unchanged since 2022. At current prices, that stake 
is valued at just under $1.1 billion.
_Tesla &#8216;s Bitcoin investments. Source: __BitcoinTreasuries.NET_
 _Crypto Biz is your weekly pulse on the business behind blockchain and 
crypto, delivered directly to your inbox every Thursday._

Crypto Biz: Cantor Fitzgerald crypto play, ETF inflows highlight industry’s big sentiment shift

Pro-crypto Senator Cynthia Lummis believes the Fed&#8217;s recent warming to crypto 
is just &#8220;lip service,&#8221; and calls out anti-crypto bias.

Senator Lummis blasts the Fed: Anti crypto bias persists, despite ‘lip service’

Nasdaq has urged the US Securities and Exchange Commission (SEC) to hold 
digital assets to the same regulatory standards as securities if they 
constitute &#8220;stocks by any other name,&#8221; according to an April 25 comment 
letter.
The exchange said the US financial regulator needs to establish a clearer 
taxonomy for cryptocurrencies, including categorizing a portion of digital 
assets as &#8220;financial securities.&#8221; Those tokens, Nasdaq argued, should continue 
to be regulated &#8220;as they are regulated today regardless of tokenized form.&#8221;
&#8220;Whether it takes the form of a paper share, a digital share, or a token, an 
instrument&#8217;s underlying nature remains the same and it should be traded and 
regulated in the same ways,&#8221; the letter said.
It also proposed categorizing a portion of cryptocurrencies as &#8220;digital asset 
investment contracts,&#8221; to be subject to &#8220;light touch regulation&#8221; but still 
overseen by the SEC.
_Nasdaq &#8216;s April 25 letter to the SEC. Source: __Nasdaq_
 _**Related:**__**Certain stablecoins aren&#8217;t securities, SEC says in new 
guidance**_
## Regulatory U-turn
The SEC has dramatically pivoted its stance on cryptocurrency oversight since 
US President Donald Trump took office in January.
Under the leadership of former Chair Gary Gensler, the SEC took the position 
that practically all cryptocurrencies, with the exception of Bitcoin (BTC), 
represent investment contracts and therefore qualify as securities.
This stance led the agency to bring upwards of 100 lawsuits against crypto 
firms for alleged securities law violations.
However, under Trump nominee Paul Atkins, who was sworn in as chair on April 
21 after a lengthy Senate confirmation, the SEC has claimed jurisdiction over 
a narrower segment of cryptocurrencies.
In February, the agency issued guidance stating that memecoins &#8212; if clearly 
identified as purely speculative assets with no intrinsic value &#8212; do not 
qualify as investment contracts pursuant to US law.
In April, the SEC said that stablecoins &#8212; digital tokens pegged to the US 
dollar &#8212; similarly do not qualify as securities if they are marketed solely 
as a means of making payments.
_Stablecoin market overview. Source:__RWA.xyz_
## Integrating crypto into TradFi
In its April 21 letter, Nasdaq said existing financial infrastructure &#8220;can 
readily absorb digital assets by establishing the proper taxonomy and 
calibrating certain rules to reflect what is truly new and novel about digital 
assets.&#8221;
The Depository Trust &amp; Clearing Corporation (DTCC) &#8212; a private US securities 
clearinghouse closely overseen by the SEC &#8212; has been laying the foundation 
for integrating blockchain technology into regulated financial markets.
In March, the DTCC committed to promoting Ethereum&#8217;s ERC-3643 standard for 
permissioned securities tokens.
_**Magazine: **__**Ethereum is destroying the competition in the $16.1T 
TradFi tokenization race**_

Nasdaq urges SEC to treat certain digital assets as 'stocks by any other name'

A regulatory overhaul could unleash innovation in crypto, fostering clarity 
and growth, but requires balancing oversight with technological advancement.
The post SEC’s Atkins calls for overhaul of ‘badly needing attention’ crypto 
rules appeared first on Crypto Briefing.