News & Research

Canadian digital technology and financial services provider Tetra Trust has launched CADD, a stablecoin pegged to the Canadian dollar (CAD), CoinDesk reported. The stablecoin is the first of its kind to be issued by a regulated Canadian financial institution and has received approval from the Alberta Treasury Board and Finance. CADD is designed for institutional investors, aiming to replace traditional batch systems for use cases such as 24/7 cross-border payments, real-time corporate treasury management, and fintech transfers. It is available on major blockchains including Base, Ethereum, and Tempo, with support for Solana planned for the future. Canadian multinational e-commerce company Shopify and the National Bank of Canada are part of the project's consortium.

Stablecoin startup Rain has secured Principal Member status with Mastercard, The Block reported. This designation allows the company to issue stablecoin-based credit and prepaid cards directly on the Mastercard payment network. Rain also maintains a partnership with Visa.

Bitcoin Layer 2 Citrea has launched its governance token, CTR, The Block reported. The token has a total supply of 10 billion, with 60% allocated to the community. The remaining 40% will go to investors (19.35%) and early contributors (20.66%), subject to a four-year lock-up period that includes a one-year cliff. Token holders can stake CTR to receive non-transferable xCTR and exercise voting rights on the treasury and network operations.

Kraken has filed a $25 million lawsuit against its former custody partner, Etana, which previously handled its fiat deposits and withdrawals, CoinDesk reported. According to a complaint filed in a Colorado federal court, Kraken alleges that Etana engaged in a classic Ponzi scheme. The exchange claims Etana diverted client assets for operating expenses or used them in risky investments, then used new client deposits to cover the gaps.

On-chain investigator ZachXBT has identified imToken and the decentralized exchange (DEX) Tokenlon as hotbeds for laundering illicit funds. He alleged that the majority of Tokenlon's trading volume originates from illegal money laundering activities, including romance scams.

World Liberty Financial (WLFI), a DeFi project led by the Trump family, has filed a defamation lawsuit against Tron (TRX) founder Justin Sun, the New York Post reported. In its complaint, World Liberty alleges that Sun publicly supported the WLFI token while secretly engaging in a "short-and-distort" scheme involving short selling and price manipulation. According to World Liberty, Sun's side invested a total of $45 million in WLFI starting in November 2024, but the tokens were frozen after the project detected alleged unauthorized transfers to Binance, the use of third-party proxy buyers, and engagement in contractually prohibited short selling. World Liberty stated that even after the freeze, Sun continued to publicly support WLFI while privately demanding a settlement worth hundreds of millions of dollars, threatening that the token's price would collapse if the assets were not unfrozen. Sun had previously filed a fraud lawsuit against World Liberty in a California federal court on April 21. In its countersuit, World Liberty is seeking damages and the retraction of related posts.

The launch of more than 24 ETFs linked to prediction markets in the U.S. has been put on hold after the Securities and Exchange Commission (SEC) requested additional information, Reuters reported. Three asset management firms—Roundhill Investments, GraniteShares, and Bitwise—applied to launch the ETFs in February, with a 75-day automatic approval deadline that was set to expire this week. These funds are designed to hold derivatives tied to the outcomes of real-world events, such as midterm and presidential elections, economic recessions, and tech industry restructuring. Potential investment risks include insider trading and the possibility of catastrophic losses. However, sources familiar with the matter reportedly believe the delay is likely to be temporary.

Capital B, a publicly traded European firm strategically accumulating Bitcoin, announced it has secured a €1.1 million ($1.28 million) investment from Blockstream CEO Adam Back. The company also lowered the conversion price of bonds held by Back by approximately 50%, from €5.174 to €2.59 per share. Upon conversion, Back will be granted additional share purchase rights with a two-year maturity. Existing share price conditions have been removed, allowing him to convert the bonds into stock at his discretion.

Bitcoin (BTC) may not fall below $60,000 again, U.Today reported. The analysis is based on Bitcoin's 200-week moving average (200WMA) officially surpassing the $60,000 mark. Historically, this indicator has acted as a key support for the price floor, except in extreme bear markets, suggesting a structural rise in the baseline. Separately, anonymous crypto trader DonAlt, who has approximately 710,000 followers on X, suggested that a breakout above $87,000 for BTC would trigger a strong bullish reversal across the broader market.

Veteran trader Peter Brandt predicted that Bitcoin (BTC) could reach approximately $250,000 by 2029, CoinDesk reported. He suggested the market bottom is likely to form in September or October of this year. Brandt noted that while BTC does not necessarily have to retest its recent lows, a period of sideways trading or a further decline could follow any rebound. In a worst-case scenario, he said a return to the $40,000-$50,000 range is possible. However, Brandt added that he would revise his forecast if the price action deviates from previous halving cycles.