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Mike Novogratz’s Galaxy Digital gets SEC nod for Nasdaq listing

Artificial intelligence and crypto investment firm Galaxy Digital has been given the nod from the US Securities and Exchange Commission to list on the Nasdaq stock exchange.

The company, which is listed on the Toronto Stock Exchange (TSX), plans to relocate its home base from the Cayman Islands to Delaware, according to an April 7 statement from Galaxy, pending shareholder and TSX approval.

“Our registration statement is now effective with the SEC. We’re on track to list on the Nasdaq shortly after our shareholder vote on May 9, contingent on completing our reorganization. Let’s go!” Galaxy CEO Michael Novogratz said in an April 7 statement to X.

Source: Michael Novogratz

Galaxy anticipates listing on the Nasdaq under the ticker symbol GLXY shortly after the vote, with the transition to be completed by mid-May, contingent on meeting <a data-ct-non-breakable="null" href="https://cointelegraph.com/news/bitcoin-etf-blackrock-sec-nasdaq-listing-rules"

$2T fake tariff news pump shows ‘market is ready to ape’

Recent fake news that US President Donald Trump was considering a 90-day pause in tariffs shows the potential for a strong market rebound should a real one take place, according to observers.

A fake news post on X on April 7 from the verified “Walter Bloomberg” account claimed that the White House was considering a 90-day pause on tariffs following an interview with Kevin Hassett, one of Donald Trump’s economic advisers.

“Hassett: Trump is considering a 90-day pause in tariffs for all countries except China,” read the now-deleted post from the user, who is not affiliated with Bloomberg News.

The account, which has a verified badge and 852,000 followers, caused quite a stir after the rumor was mistakenly aired as a banner on CNBC and then amplified by Reuters.

The S&P 500 spiked more than 8% from its low on the day in reaction, the Nasdaq added 9.5% in

Aussie regulator to shut 95 ‘hydra’ firms linked to crypto, romance scams

Australia’s corporate watchdog has been given the nod to shut down 95 “hydra” companies that it suspects engaged in crypto investment and romance scams, known as “pig butchering.”

The Australian Securities and Investments Commission’s application to wind up the companies was approved by the Federal Court of Australia on just and equitable grounds after ASIC found that most of the companies had been incorporated with false information.

Many of these companies were set up purporting to provide “genuine services” but were instead believed to be scamming their victims, ASIC Deputy Chair Sarah Court said in an April 8 statement.

“There appears to be a common pattern of scam activity in the nature of ‘pig butchering,’” Justice Angus Stewart said in an April 4 court ruling after looking at 48 “Reviews of Misconduct” from 17 companies accused of facilitating

SEC crypto trading roundtable to include crypto giants Uniswap, Coinbase

The US Securities and Exchange Commission has released the list of executives from US crypto and finance giants that will take part in a roundtable discussion on crypto trading regulation.

On April 7, the regulator said its upcoming April 11 roundtable will discuss how it should handle crypto trading rules, calling it “Between a Block and a Hard Place: Tailoring Regulation for Crypto Trading.”

It will be the second in a series of discussions on crypto, headed by its recently-formed Crypto Task Force.

Taking part are Uniswap Labs chief legal officer Katherine Minarik, Cumberland DRW associate general counsel Chelsea Pizzola and Coinbase institutional product vice president Gregory Tusar — all firms that had once been in the regulator’s scope.

Under the Biden administration, the regulator sued Cumberland DRW in October and Coinbase in June 2023 for alleged securities law violations, but both <a data-ct-non-breakable="null"

Spanish police arrest six over $20M AI-powered investment scam

Authorities in Spain have arrested six people who helped operate a global AI-powered investment scam that stole over $20 million from at least 208 victims.

The scammers would swindle victims up to three times. After stealing an initial sum through the investment scam, the fraudsters contacted victims twice more, masquerading as investment managers and then as authorities, offering to recover the stolen funds for a fee, Spanish police said in an April 7 statement.

The scammers used deepfake ads of “national personalities” promising high returns on crypto investments, and would occasionally pose as financial advisers or even feign romantic interest to lure in victims.

Experts have been warning of a rise in AI-enhanced scams. Blockchain analytics firm Chainalysis said in its Feb. 13 Crypto Scam Revenue 2024 report that generative AI is making “scams more

Lawyer sues US homeland dept to probe supposed Satoshi Nakamoto meeting

A crypto lawyer has sued the US Department of Homeland Security, alleging the agency may know who created Bitcoin — compelling the department to share what it knows.

The Freedom of Information Act lawsuit was filed by James Murphy, who based his accusations on claims made by DHS Special Agent Rana Saoud at a conference in April 2019, where she said a few of her colleagues had previously met with four people involved in creating Bitcoin.

“My FOIA lawsuit simply asks for the notes, email and other documents relating to that alleged interview,” Murphy posted to X after announcing the April 7 suit.

“IF the interview really happened as the DHS Agent claimed, there should be documentation of the substance of that meeting,” added Murphy, who goes by MetaLawMan on X.

Source: James Murphy

Speaking

Former Kraken execs acquire real state firm Janover, disclose SOL treasury plans

A team of former Kraken executives has taken control of Janover, with Joseph Onorati, former chief strategy officer at Kraken, stepping in as chairman and CEO, following the group’s purchase of over 700,000 common shares and all Series A preferred stock.

Parker White, former director of engineering at Kraken, was appointed as the new chief investment officer and chief operating officer. The group bought 728,632 shares of Janover common stock and all 10,000 shares of Series A preferred stock. Marco Santori, former chief legal officer at Kraken, will join the board.

Janover is a real estate financing company that connects lenders and buyers of commercial properties. The company stock price saw an 840% rise on April 7 as part of the deal.

According to a statement, the company’s new leadership has plans to create a Solana (SOL) reserve treasury. The plans

Corporate Bitcoin treasuries drop more than $4B on US tariff hike impact

Corporate Bitcoin (BTC) treasuries collectively shed more than $4 billion in value after US President Donald Trump’s tariffs triggered a global market sell-off, data shows.

As of April 7, corporate Bitcoin holdings are worth approximately $54.5 billion in the aggregate, down from roughly $59 billion before April 2, according to data from BitcoinTreasuries.net.

The cryptocurrency’s volatility has also weighed on publicly traded Bitcoin holders’ share prices.

The Bitwise Bitcoin Standard Corporations ETF (OWNB) — an exchange-traded fund (ETF) tracking a diverse basket of corporate Bitcoin holders — has lost more than 13% since Trump announced sweeping US import tariffs on April 2, according to Yahoo Finance.

Even shares of Strategy — the de facto Bitcoin hedge fund founded by Michael Saylor that pioneered corporate Bitcoin buying — are down, clocking losses of more

Bitcoin on verge of largest ‘price drawdown’ of the bull market — Analyst

Bitcoin’s (BTC) 26.62% decline from its $109,500 all-time high is en route to becoming the deepest drawdown of the current bull market cycle, according to CryptoQuant head of research, Julio Moreno.

Bitcoin price drawdown analysis. Source: X

Bitcoin has experienced significant drawdowns in past cycles, with a notable 83% drop from its peak in 2018 and a 73% correction from all-time highs (ATH) in 2022. In comparison, the current decline of 26.62%, while substantial, remains less severe than previous bear markets.

This suggests that even though the current downturn is impactful, it has not yet reached the intensity of previous cycles. However, crypto and macro resource ‘ecoinometrics’ said that Bitcoin might struggle to stage an immediate turnaround. The analysts explained,

“Historically, when the NASDAQ 100 falls below its long-term year-on-year average return, Bitcoin tends

Crypto bull market ‘hasn't started yet’ — LONGITUDE panel

Crypto’s worst quarter since the FTX crisis has many investors worried about the end of the bull market, but according to an industry panel, Bitcoin and altcoins’ parabolic moves haven’t even begun yet.

In a panel discussion at the LONGITUDE by Cointelegraph event in Paris, France, MN Capital founder Michael van de Poppe said he thinks the bull market is “actually getting started from this point.”

While it’s hard to believe that following Bitcoin’s (BTC) recent plunge below $80,000 on global tariff woes, “we know from history” that chaotic sell-offs create favorable conditions for a reversal, he said.

Van de Poppe drew parallels between the current market dump and the COVID-19 crash in 2020, when Bitcoin plunged by nearly 40% in a single day.

“That was the actual bottom, and since then, Bitcoin went 20x,” said van de Poppe.

Cointelegraph Managing Editor Gareth Jenkinson, left,