KEYTAKEAWAYS
- US spot Bitcoin ETFs recorded nearly $1 billion in daily inflows on April 22, the largest since Trump took office, while the White House considers significantly reducing China tariffs from 145% to 50-65%.
- The XRP Ledger's JavaScript library was found to contain malware that steals private keys in versions 4.2.1-4.2.4, prompting urgent warnings to developers to update immediately to safe versions.
- Paul Atkins has been sworn in as the new SEC Chairman as the agency drops its case against Hex founder Richard Heart, signaling a continued shift in regulatory approach to crypto under the Trump administration.
CONTENT
Welcome to the CoinRank Crypto News Roundup. CoinRank will provide daily important crypto news in this column series, allowing readers to quickly obtain the latest crucial updates from the cryptocurrency market.
MORNING NEWS
1. Chiliz Meets with SEC to Discuss $100M US Market Reentry
Chiliz, a SportsFi company, has met with the SEC to discuss its reentry into the US crypto market and a potential $50-100 million investment ahead of the 2026 FIFA World Cup. The company discussed why fan tokens “should not be classified as securities” during the April 22 meeting. Chiliz CEO Alexandre Dreyfus also shared a photo with Bo Hines, executive director of Trump’s Council of Advisors for Digital Assets, suggesting a second meeting with White House officials. Despite partnerships with major sports clubs including FC Barcelona and Manchester City, Chiliz has seen its total value locked drop 63.5% since December 2024, while its token price has declined 67% over the past year.
2. Solana Attracting Institutional Buyers as ETFs Build Reserves
Solana (SOL) is improving its demand and supply balance with signs of institutional buying and ETF reserve accumulation. Canadian SOL-based ETFs saw CAD 120 million ($87 million) in inflows over the past week, offsetting selling from whales and fee producers. The SOLQ ETF by 3iQ drew CAD 100.3 million, far surpassing rivals, with both SOLQ and Evolve offering zero fees until January 2026. Additionally, Janover has rebranded as DeFi Development Corporation, positioning itself as a Solana treasury vehicle similar to Strategy’s approach with Bitcoin. The company already holds 251,842 SOL and recently purchased another 88,164 SOL valued at $11.5 million, with plans to allocate a $42 million financing round to acquire more tokens.
3. XRPL JavaScript Library Compromised by Malware that Steals Private Keys
An XRP Ledger validator has warned projects and developers that the network’s JavaScript library has been compromised. Validator Vet cautioned against using versions 4.2.1 or higher of the XRPL js library after Aikido Security discovered a backdoor that steals private keys and sends them to attackers. Ripple CTO David Schwartz clarified that only the XRPL.js library from NPM was compromised, not the Ledger itself. The XRP Ledger Foundation confirmed the vulnerability exists only in the JavaScript library for interacting with XRPL and urged projects to upgrade immediately to versions 4.2.5 or 2.14.3, which have been released to remove the compromised code.
4. Dutch Bank ING Working on Stablecoin Project with Multiple Banks
ING, the Dutch banking giant, is developing a stablecoin project that could involve a consortium of other banks and crypto service providers, according to two sources familiar with the plans. “ING is working on a stablecoin project with a few other banks. It’s moving slow as multiple banks need board approval to set up a joint entity,” one source stated. The initiative seeks to leverage Europe’s Markets in Crypto Assets (MiCA) regulations, which require stablecoin issuers to hold authorization licenses while promoting euro-denominated stablecoins. ING’s entry would provide competition to Société Générale, which became the first major bank to offer a stablecoin through its SG Forge innovation division.
5. ZKSync’s Parent Company Matter Labs Sued for Alleged Intellectual Property Theft
ZKSync’s parent company, Matter Labs, has been sued by defunct digital asset banking platform Bankex for alleged intellectual property theft. According to documents filed with the New York State Supreme Court, former Bankex employees Alexandr Vlasov and Petr Korolev allegedly stole the company’s technology to start Matter Labs, which later received over $450 million in venture capital funding. The lawsuit claims Vlasov and Korolev were tasked with building operational software for Ethereum’s “Plasma” technology after Vitalik Buterin approached Bankex in 2017, but instead used company resources to develop a competing venture. Matter Labs has dismissed the claims as “entirely without merit,” stating that ZKSync is original technology not derived from any Bankex code.
NOON NEWS
1. US Bitcoin ETFs Record Nearly $1 Billion in Daily Inflows
US spot Bitcoin exchange-traded funds recorded nearly $1 billion in combined daily net inflows on April 22, marking the largest increase since President Trump took office and a three-month high. According to SoSoValue data, inflows exceeded $936 million, with the week’s total reaching $1.32 billion in just two trading days. ARK 21Shares’ Bitcoin ETF (ARKB) led with $267.1 million in inflows, followed by Fidelity’s Wise Origin Bitcoin Fund (FBTC) with $253.8 million and BlackRock’s iShares Bitcoin Trust (IBIT) with $193.49 million. Ethereum ETFs also experienced their largest inflows since February, collectively registering $38.74 million on April 22, with Fidelity’s FETH securing $32.6 million.
2. White House Considering Slashing China Tariffs from 145% to 50-65%
The White House is reportedly considering reducing tariffs on Chinese imports from the current 145% to 50-65%, according to a senior official who spoke to the Wall Street Journal. The administration is also exploring a “tiered approach” where strategically important items could face levies starting at 100% while other goods would face 35% tariffs. President Trump hinted at this deescalation on Tuesday, stating “145% is too high. It will come down substantially,” while expressing optimism about trade talks. Treasury Secretary Scott Bessent echoed this sentiment at a private event, calling the current US-China trade war “unsustainable” and suggesting a deescalation was forthcoming, though he acknowledged negotiations would be challenging.
3. Trump’s Bitcoin Reserve Details Expected Within Two Weeks
According to Bloomberg, President Trump signed an executive order in early March establishing a strategic reserve of Bitcoin and other tokens, requiring the Treasury Secretary to evaluate legal and investment considerations within 60 days. With less than two weeks remaining before this deadline, more details about the Bitcoin reserve are expected soon. Market expectations surrounding this development may be contributing to the recent crypto asset rebound. Additionally, recent comments questioning Federal Reserve independence have had positive spillover effects on Bitcoin prices.
4. Bitcoin and Ethereum Rise in Global Asset Rankings as Crypto Market Cap Exceeds $3 Trillion
Bitcoin and Ethereum have climbed to 6th and 67th positions in global asset rankings respectively, with the total cryptocurrency market capitalization now exceeding $3 trillion.
5. SEC Ends Legal Battle with Hex Founder Richard Heart
The SEC has formally ended its legal battle with Hex founder Richard Heart (Richard Schueler). In a letter to New York District Court Judge Carol Bagley Amon, the SEC stated it “does not intend to file an amended complaint,” allowing the earlier dismissal to stand. The SEC had sued Heart in July 2023, accusing him of raising over $1 billion through unregistered securities offerings tied to Hex, PulseChain, and PulseX, and using investor funds for luxury purchases. While Heart celebrated the dismissal as a “victory for open-source software, cryptocurrency, and free speech,” he remains on Interpol’s Red Notice list for tax evasion charges in Finland and an assault allegation involving a minor.
EVENING NEWS
1. Treasury Secretary Bessent: US-China Trade War “Unsustainable”
US Treasury Secretary Scott Bessent stated at a private event that the US-China trade war is unsustainable and expects deescalation soon, according to people familiar with his remarks. “No one thinks the current status quo is sustainable,” Bessent reportedly said, citing the sky-high tariffs both countries have placed on each other. He emphasized that the goal isn’t to decouple from China, though negotiations will be challenging, and suggested a larger deal between the two countries might be possible in two to three years. Bessent’s comments helped lift US stocks after they were first reported by Bloomberg.
2. Paul Atkins Sworn in as New SEC Chairman
Paul Atkins has been sworn in as the new SEC Chairman following his Senate confirmation by a 52-44 vote. In his opening speech, Atkins expressed his aim to work with colleagues to make the United States “the most profitable place to invest.” He stated, “Together, we will work to ensure that the United States is the best and safest place in the world to invest and conduct business.” With Atkins at the helm alongside like-minded Republican commissioners Mark Uyeda and Hester Pierce, the implementation of innovative digital asset regulations is expected to proceed more smoothly, particularly after the agency’s recent withdrawal of several crypto enforcement actions under the acting chairmanship.
3. Gate.io Completes System Upgrade, Promises Full Compensation to Users
Gate.io announced it has completed its system upgrade service and will provide full compensation for problems experienced during this period to protect users’ interests. Gate.io CBO Kevin is scheduled to hold an AMA on the X platform to address this incident.
4. Satoshi Nakamoto’s Bitcoin Holdings Surpass $100 Billion
According to Arkham monitoring, as Bitcoin returned to $94,000, the value of Satoshi Nakamoto’s Bitcoin holdings exceeded $100 billion. Data shows Nakamoto holds approximately 1.096 million Bitcoins, which were worth about $103.41 billion when Bitcoin reached $94,321.
5. Former OpenAI Employees Ask State AGs to Block Restructuring to For-Profit Entity
Ten former OpenAI employees have asked the attorneys general of California and Delaware to prevent the AI company from shifting control of its technology from a non-profit charity to a for-profit business. “Ultimately, I’m worried about who owns and controls this technology once it’s created,” said Page Hedley, a former policy and ethics adviser at OpenAI. This is the second petition to state officials this month, following an earlier one from labor leaders and non-profits. Meanwhile, Elon Musk continues his legal battle against OpenAI’s restructuring, though his request for a court order blocking the conversion was denied in March. OpenAI recently countersued Musk, claiming his actions are “bad-faith tactics to slow down OpenAI and seize control of the leading AI innovations for his personal benefit.”
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