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Iranian authorities have not said what caused the massive explosion at the port of Bandar Abbas on Saturday, killing at least 28 people, but video footage and unconfirmed reports point to the possible presence of a chemical used to make missile propellant.

Eyewitness accounts and video indicate chemicals in an area of shipping containers caught fire, setting off a much larger explosion. The death toll spiked sharply following the incident, with 800 others also reported injured.

One surveillance video distributed by the Fars news agency shows a small fire beginning among containers, with a number of workers moving away from the scene, before a huge explosion ends the video feed.

The state-run Islamic Republic News Agency quoted an official as saying the explosion was likely set off by containers of chemicals, but did not identify the chemicals. The agency said late Saturday that the Customs Administration of Iran blamed a “stockpile of hazardous goods and chemical materials stored in the port area” for the blast.

Iran’s national oil company said the explosion at the port was “not related to refineries, fuel tanks, or oil pipelines” in the area.

Iranian officials have denied that any military materiel was held at the port. The spokesman for the national security and foreign policy committee of the Iranian parliament, Ebrahim Rezaei, said in a post on X Sunday that according to initial reports the explosion had “nothing to do with Iran’s defense sector.”

Iranian President Masoud Pezeshkian arrived in Bandar Abbas on Sunday afternoon to investigate the situation and oversee relief efforts, according to state media. The president also met with those injured in yesterday’s blast.

The blast comes at a time of high tensions in the Middle East and ongoing talks between Iran and the United States over Tehran’s nuclear programme, but no senior figure in Iran has suggested the blast was an attack.

Fires at the port were still burning Sunday, although Iranian state media said they were 80% contained.

The New York Times reported Sunday that a person “with ties to Iran’s Islamic Revolutionary Guard Corps said that what exploded was sodium perchlorate, a major ingredient in solid fuel for missiles. The person spoke on condition of anonymity to discuss security matters.”

Sodium perchlorate could allow for the production of sufficient propellant for some 260 solid rocket motors for Iran’s Kheibar Shekan missiles or 200 of the Haj Qasem ballistic missiles, according to the intelligence sources.

This post appeared first on cnn.com

The Russian military is planning to increase the use of small squads on motorcycles and quadbikes on the frontlines in Ukraine as it plans fresh offensives, according to the Ukrainian military and analysts of the conflict.

The Russian Defense Ministry published video on Saturday showing units practising tactics in groups of two or three motorbikes, with a rider seen navigating a course to the sound of a pulsating electronic soundtrack.

Russian forces have used motorbikes and quads in several areas of the frontlines in an effort to evade Ukrainian drones for more than a year. But the Institute for the Study of War in Washington says the latest Russian video “indicates that the Russian military is likely developing a tactical doctrine for systematic offensive motorcycle usage and may be preparing to issue an increased number of motorcycles.”

Ukraine expects a major Russian offensive in the next few months as Moscow tries to capture more territory before any ceasefire agreement.

The Ukrainian military calls the motorbike assaults ‘banzai attacks.’ One Ukrainian commander, Andriy Otchenash, said earlier this month that the motorcycles are designed for a quick blitzkrieg. “They can advance very quickly, get behind the lines,” he said, but losses on the Russian side were very high.

“It indicates that the enemy does not have a large amount of military offensive equipment, but on the other hand, it is an adaptation to the conditions of war,” said the Ukrainian Center for Strategic Communication.

On Saturday, the Ukrainian military said it had repelled a Russian assault on the village of Bahatyr on the Donetsk frontlines, destroying 15 motorcycles and killing about 40 Russian soldiers. It distributed video of drones eliminating a number of motorbikes in open countryside.

The Ukrainian military reported in February the Russians were using more quadbikes around Chasiv Yar, also in Donetsk, where the frontlines have barely moved over the past year.

One Ukrainian military spokesman, Lt. Col. Pavlo Shamshyn, said the use of motorbikes was a mixed blessing for Russian troops. Their speed and manoeuvrability helped them to evade Ukrainian drones, but the noise of a bike prevented riders from hearing drones.

Russian state media has been promoting the advantages of motorbike units. Russia Today reported last week that motorcyclists were planting mines and interviewed a soldier with the 39th Guards Motorised Rifle Brigade, who is part of a new motorised group.

“Our main advantage is that we can drive directly into [the enemy’s position] and neutralise everyone,” he said. The enemy “hear the roar of the motorcycles, and it causes panic among them. They simply abandon their positions and run away.”

The Russian military is also using motorbikes to evacuate the wounded. The Telegram account of the Defense Ministry’s publication Zvezda reported last week that Russian marines fighting in the Kursk region were using all-terrain motorcycles to evacuate civilians and wounded soldiers. Video showed a soldier being put on the back of a bike in muddy fields.

Last year, the UK’s Defense Ministry said the Russians were increasingly using off-road bikes and all-terrain vehicles for night-time attacks. But it noted that Ukrainian FPV drones, which fly into their target, had already demonstrated how vulnerable such unprotected vehicles were.

Late in 2023, Russian President Vladimir Putin inspected Chinese-made all-terrain vehicles being procured for the Russian army. At that point some 500 were already in service, and the Defense Ministry ordered around 1,500 more.

This post appeared first on cnn.com

It was quite a week for the gold price.

The yellow metal continued its record-breaking streak early in the period, touching the US$3,500 per ounce level for the first time, but then saw a sharp pullback, even dropping briefly below US$3,300.

What’s behind gold’s latest moves? Market watchers have pointed to US President Donald Trump’s comments about Federal Reserve Chair Jerome Powell as the trigger for its latest spike.

In a Truth Social post on Monday (April 21), Trump said there could be a ‘SLOWING of the economy’ unless Powell — who he referred to as ‘Mr. Too Late’ — lowers interest rates.

Trump has criticized Powell heavily in recent days, saying last week that his ‘termination cannot come fast enough!’ That statement reignited discussions on whether Trump is able to fire Powell — Powell has said it can’t be done, and there isn’t any precedent since no president has ever tried to oust a Fed chair.

For now, the tension has subsided — Trump walked back his harsh words about Powell on Tuesday (April 22), saying he doesn’t intend to fire him, but still wants to see rate cuts.

‘I have no intention of firing him. I would like to see him be a little more active in terms of his idea to lower interest rates’ — Trump

Bullet briefing — Barrick to sell Donlin stake, CMOC to buy Lumina

Barrick to sell Donlin stake

Barrick Gold (TSX:ABX,NYSE:GOLD) has reached an agreement to sell its 50 percent stake in the Donlin gold project to affiliates of Paulson Advisers and NOVAGOLD Resources (TSX:NG,NYSEAMERICAN:NG).

The major gold miner will sell its interest in Donlin for US$1 billion in cash, with Paulson providing US$800 million and NOVAGOLD contributing the other US$200 million. Once the deal closes, Paulson will have a 40 percent interest in Donlin, while NOVAGOLD’s stake in the asset will rise from 50 percent to 60 percent.

Barrick President and CEO Mark Bristow said Donlin is an asset that ‘might be better suited in the hands of others,’ adding that the company is exiting at an ‘attractive valuation.’

While Donlin is one of the world’s largest gold projects, it is located in Alaska where infrastructure is scarce. At the same time, Barrick is looking to hone in on tier-one assets and boost its copper exposure.

Thomas Kaplan, chair of NOVAGOLD, said in a conference call after the sale was announced that his company ‘did not see eye-to-eye on a couple of things’ with Barrick, including the timing for a feasibility study for Donlin and the amount of drilling to conduct at the property.

Paulson Advisers, a longtime NOVAGOLD shareholder, is chaired by John Paulson, who is known for betting against the housing market during the great financial crisis.

In an interview with Bloomberg this week, the American billionaire said gold is ‘moving to a new level of valuation’ as central banks continue to buy.

CMOC to acquire Lumina

In other gold M&A news, CMOC Group (OTC Pink:CMCLF,HKEX:3993,SHA:603993) has agreed to buy Lumina Gold (TSXV:LUM,OTCQB:LMGDF) in a transaction worth C$581 million.

The all-cash deal will see CMOC pay C$1.27 per Lumina share.

Lumina is focused on its Cangrejos project, which it says is the largest primary gold deposit in Ecuador. A 2023 prefeasibility study outlines a 26 year mine life, with average annual payable production of 371,000 ounces of gold, plus average annual payable by-product output of 41 million pounds of copper.

‘After advancing the Cangrejos project for over 10-years and taking it from no defined resources to being poised to be one of the largest gold projects globally, the Lumina Group is excited for the transition of the Cangrejos project to CMOC,’ said Marshall Koval, CEO of Lumina Gold.

Well-known mining industry figure Ross Beaty is Lumina’s largest shareholder, while CMOC is a major producer of metals like molybdenum, tungsten, copper and cobalt.

Securities Disclosure: I, Charlotte McLeod, hold no direct investment interest in any company mentioned in this article.

This post appeared first on investingnews.com

This week brought major developments in the tech space as interest rate speculation impacted the market and Alphabet (NASDAQ:GOOGL) saw developments in its high-stakes antitrust battle.

Meanwhile, Motorola Solutions (NYSE:MSI) made waves with new artificial intelligence (AI) integrations, and earnings reports impacted shares of Tesla (NASDAQ:TSLA), IBM (NYSE:IBM) and Intel (NASDAQ:INTC).

Meanwhile, the EU continued its regulatory push against Apple (NASDAQ:APPL) and Meta Platforms (NASDAQ:META).

Read on to dive deeper into this week’s top stories.

1. DOJ pushes for radical remedies in Google’s antitrust trial

This week, federal attorneys presented possible remedies before Judge Amit Mehta in the Google search antitrust case, following his August 2024 ruling that Google is illegally monopolizing the search market.

The US Department of Justice (DOJ) recommended that Google be forced to share its user data with rivals and advocated for the sale of Google’s Chrome business, arguing that the divestiture would give other companies a fighting chance in the search engine market. As the week progressed, executives from OpenAI, DuckDuckGo, Perplexity and Yahoo said they would consider acquiring Chrome if Mehta were to force a sale.

“Google can compete, but they simply don’t want to compete on a level playing field,” DOJ attorney David Dahlquist said during his opening remarks on Monday (April 21). He added, “Google is now fearful of competing against rivals who will only get stronger with the proposed remedies in place.” Dahlquist also called for forward-looking remedies that would prevent future monopolization in the burgeoning field of AI-powered search and related AI services, proposing that Google be banned from making deals with phone manufacturers that make Google Search the default search.

Google’s attorney, John Schmidtlein, said the proposal is “fundamentally flawed” and argued that it is a “wishlist” for competitors that would immediately benefit from technology that Google has spent years developing.

In a blog post on Sunday (April 20), Lee-Anne Mulholland, Google’s vice president of regulatory affairs, wrote, “At trial, we will show how DOJ’s unprecedented proposals go miles beyond the Court’s decision, and would hurt America’s consumers, economy, and technological leadership.” Mulholland contends that the DOJ’s antitrust proposals would hinder user access to preferred services, raise costs, slow innovation, jeopardize privacy, impede AI development and undermine the functionality and security of key platforms like Chrome and Android.

Illustrating the challenge that Google’s competitors face, Dmitry Shevelenko, head of product for Perplexity AI, said that on on Android devices, the process of setting Perplexity AI as the default AI assistant over Google’s pre-set Gemini is like navigating a “jungle gym.’ However, he also expressed concern that forcing Google to sell Chrome to a competitor, like OpenAI, could lead to the discontinuation of Chrome’s open-source model, which many developers rely on.

Google presented ongoing arguments that users choose Google Search because of its high-quality results, not as a result of anticompetitive practices. The defense also presented evidence that OpenAI, Microsoft (NASDAQ:MSFT) and Meta have sought deals with Samsung Electronics (KRX:005930) to put their AI chatbots onto Samsung phones.

This week’s proceedings laid bare starkly contrasting visions for the future of the search market. The result of the trial will be a pivotal moment and could lead to a major shake-up in the tech world.

2. Motorola to enhance smartphones with multi-partner AI integration

Motorola announced a strategic move on Thursday (April 24) to enhance its smartphones through key partnership agreements with Google, Meta, Microsoft and Perplexity. The company’s new deal takes a “best-of-breed” approach by integrating specialized technologies from each partner into Moto AI.

The Perplexity app will be pre-installed on the new Razr series, allowing users to access Perplexity’s search and assistant capabilities directly within Moto AI. Other Motorola devices launched after March 3, 2025, will receive this feature via a future update. The deal will make Motorola the first smartphone brand to fully integrate Perplexity.

Besides Perplexity, Motorola’s partnership with Google integrates Gemini and Gemini Live models for on-device AI features. Meta’s Llama model will enhance on-device processing, providing notification summaries and enabling mixed-reality notifications and app viewing. Microsoft’s Copilot serves as another option for a conversational chatbot.

Motorola introduced its newest lineup of Razr phones on Thursday. They are equipped with four new features that leverage the specific strengths of each partner: Next Move for recommendations, Playlist Studio for curated music, Image Studio for text-to-image generation and Look and Talk (exclusive to Razr 60 Ultra) for hands-free AI activation.

3. Tesla, IBM, Intel and Alphabet release results

This week brought Q1 earnings releases from prominent tech firms Tesla, IBM and Intel.

The market’s reaction to these reports often sets the tone for the broader market sentiment and trading activity, underscoring the intense scrutiny these updates now hold.

Tesla released its report after markets closed on Tuesday (April 22), showing lower-than-expected revenue and earnings. Despite that news, the company’s share price moved upward on Wednesday. During an earnings call, CEO Elon Musk said that he will begin reducing his time spent at the White House overseeing the Department of Government Efficiency and spend more time at Tesla, news that likely contributed to this upward momentum.

Musk also highlighted a focused approach to bringing robotaxis to Austin by June, with more cities to follow, alongside piloting automated Cybercab production for next year. While 2025 delivery targets were unspecified, he reaffirmed the affordable vehicle’s development and ongoing Full Self-Driving progress.

Conversely, IBM’s stock price fell by over 6 percent on Thursday after the company reported its results after Wednesday’s closing bell; the decline came even after it beat analysts’ estimates for both revenue and earnings. This negative reaction has been attributed to a slowdown in IBM’s consulting businesses, sparking concerns about the company’s future growth. Cautious language regarding the economic outlook may have also weighed on investor sentiment.

Tesla and IBM performance, April 22 to 25, 2025.

Chart via Google Finance.

Meanwhile, Intel’s Thursday release of its Q1 results revealed flat revenue and lower earnings per share alongside a lower-than-expected outlook for Q2. The report resulted in a decline in Intel’s stock price, erasing earlier gains that followed a Fortune report that the company planned to lay off 20 percent of its workforce.

Intel and Alphabet performance, April 22 to 25, 2025.

Chart via Google Finance.

Finally, Alphabet shares rose in after-hours trading following its earnings release on Thursday, closing higher on Friday (April 25) as investors reacted positively to a strong report that revealed increases across the board.

4. EU hits Apple and Meta with DMA fines

The European Union fined Apple and Meta on Wednesday on the grounds that the companies have breached the Digital Markets Act (DMA). Apple was fined 500 million euros after the European Union found that the company imposed restrictions that prevented app developers from informing users about offers available outside of Apple’s App Store, thereby breaching the DMA’s “anti-steering” obligation. Additionally, the European Commission issued a cease-and-desist order to Apple, giving the iPhone maker 60 days to comply with the DMA.

Meta was fined 200 million euros for allegedly violating the DMA’s rules on user consent for data usage with its “pay or consent” model, which requires either personalized advertising or a subscription for ad-free service.

Both companies have said they plan to appeal.

“We have spent hundreds of thousands of engineering hours and made dozens of changes to comply with this law, none of which our users have asked for. Despite countless meetings, the Commission continues to move the goal posts every step of the way,” a representative for Apple told CNN.

Meanwhile, Meta told the Wall Street Journal that the penalties amount to “a multibillion-dollar tariff on Meta while requiring us to offer an inferior service.”

5. Apple plans iPhone manufacturing shift

Apple is reportedly planning a significant shift in its iPhone manufacturing strategy, aiming to move the assembly of iPhones destined for the US market from China to India as early as next year, according to a Thursday report in the Financial Times. This potential move signals a considerable departure from Apple’s longstanding dependence on China as its primary iPhone production hub. The impetus behind this strategic realignment is largely attributed to the escalating trade tensions between the US and China, which have compelled numerous multinational corporations to re-evaluate and diversify their global supply chains to mitigate risks.

Apple’s efforts to establish a manufacturing footprint in India have been underway for several years, with a gradual increase in iPhone production in the South Asian nation. However, the latest reports suggest a much more ambitious plan. Insiders familiar with the matter have indicated to the Financial Times that Apple’s ultimate objective is to transfer its entire iPhone production capacity for the US market to India by the end of 2026.

This would represent a complete overhaul of Apple’s current manufacturing arrangement and a major boost to India’s aspirations of becoming a global electronics manufacturing center.

Securities Disclosure: I, Meagen Seatter, hold no direct investment interest in any company mentioned in this article.

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This post appeared first on investingnews.com

Here’s a quick recap of the crypto landscape for Wednesday (April 23) as of 9:00 p.m. UTC.

Get the latest insights on Bitcoin, Ethereum and altcoins, along with a round-up of key cryptocurrency market news.

Bitcoin and Ethereum price update

Bitcoin (BTC) was priced at US$93,529.14 as markets closed for the day, up 2.2 percent in 24 hours. The day’s range has seen a low of US$92,078.75 and a high of US$94,122.31.

Bitcoin performance, April 23, 2025.

Chart via TradingView.

Fueledby the re-entry of institutional investment, the crypto markets appear to be headed towards a robust recovery; however, the long-term trajectory remains to be seen.

Ethereum (ETH) ended the day at US$1,785.14, a 5.2 percent increase over the past 24 hours. The cryptocurrency reached an intraday low of US$1,767.67 and a high of US$1,815.24.

Altcoin price update

  • Solana (SOL) ended the day valued at US$150.05, up four percent over 24 hours. SOL experienced a low of US$149.31 and peaked at $153.47.
  • XRP traded at US$2.22, reflecting a three percent increase over 24 hours. The cryptocurrency recorded an intraday low of US$2.20 and reached its highest point at US$2.29.
  • Sui (SUI) was priced at US$2.98, showing an increaseof 21 percent over the past 24 hours. It achieved a daily low of US$2.89 and a high of US$3.06.
  • Cardano (ADA) was trading at US$0.6981, up 6.3 percent over the past 24 hours. Its lowest price on Wednesday was US$0.6873, with a high of US$0.7138.

Today’s crypto news to know

Bitcoin becomes fifth largest global asset, overtakes Google

Bitcoin has climbed to a market capitalization of US$1.86 trillion, overtaking Alphabet (NASDAQ:GOOGL) to become the world’s fifth-largest asset by market value. The price of Bitcoin surged past US$94,000, helped by easing trade tensions between the US and China and renewed bullish sentiment across tech and risk-on assets.

This marks a symbolic milestone for the cryptocurrency, which has now outpaced several of the world’s most valuable tech giants. Analysts point to Bitcoin’s increasing correlation with macroeconomic tailwinds — such as falling bond yields and speculative interest in risk assets — as drivers of the recent price action.

Its breakout relative to the Nasdaq also suggests growing investor confidence in crypto as a parallel to tech. If Bitcoin maintains this trajectory, some believe it could soon challenge silver’s position as the fourth-largest global asset.

Brandon Lutnick forms new Bitcoin investment vehicle

Brandon Lutnick, son of Howard Lutnick, US secretary of commerce and former Cantor Fitzgerald chair, will launch a listed Bitcoin investment vehicle through a reverse merger with Cantor Equity Partners, a special purpose acquisition company. This is according to a Tuesday (April 22) report from the Financial Times.

The newly established entity, purportedly named Twenty One Capital, will be led by co-founder Jack Mallers, CEO of Bitcoin-focused payments app Strike, and majority owned by Tether (USDT) and cryptocurrency exchange Bitfinex. SoftBank Group (TSE:9984) will also own a ‘significant minority’ stake.

Financial Times sources said Tether will contribute at least US$1.5 billion worth of Bitcoin.

The company will also raise US$385 million through a convertible bond and US$200 million via a private equity placement, which it will use to acquire more Bitcoin. Eventually, SoftBank, Tether and Bitfinex’s investments will be converted from Bitcoin into shares in Twenty One Capital, with a price of US$13 per share for the private placement and US$10 per share for the convertible bond.

According to the report, Twenty One Capital will launch with 42,000 BTC, making it the world’s third-largest Bitcoin reserve. “With a visionary leader at the helm and backing from two renowned industry leaders, Twenty One is designed to help investors capture value from Bitcoin’s growing global demand and increasing institutional adoption,” Lutnick said in a press release on Wednesday. The deal values the new company at US$3.6 billion based on an approximate US$85,000 Bitcoin valuation. As of writing, Bitcoin is valued at US$93,808.31.

Trump backs crypto regulation, Trump Media eyes retail crypto products

During a public appearance, US President Donald Trump called for regulatory certainty in the crypto industry and vowed to provide ‘clear rules of the road’ for digital asset innovation.

His statement coincided with Trump Media & Technology Group’s announcement that it will partner with Crypto.com and Yorkville America Digital to launch retail investment products, including crypto-focused ETFs aligned with Trump’s “America First” platform. The planned offerings aim to capitalize on the president’s growing presence in the digital asset space following prior ventures like Trump NFTs and crypto-affiliated partnerships.

While no official ETF filings have been submitted yet, the initiative signals Trump’s commitment to making crypto a policy priority as part of his economic strategy.

Trump to host dinner for $TRUMP token holders

Trump will host a dinner for the top 220 holders of his $TRUMP token in Washington, DC, on May 22.

News of the event sent $TRUMP’s valuation up by over 55 percent in under an hour. $TRUMP reached US$14.44 at around midday on Wednesday, its highest valuation since mid-February. As of writing, $TRUMP is valued at US$13.46.

Top token holders are required to link their wallets for holding verification. The top 25 holders will gather for a private reception with the president before dinner.

Around 40 million $TRUMP tokens, or roughly 20 percent of the tokens’ circulating supply, were unlocked on April 17; they were valued at slightly above US$300 million at the time.

$TRUMP reached an all-time high of US$75.35 on January 19, according to data from CoinMarket Cap. This was followed by an abrupt reversal and steady decline in Q1 to valuations between US$9 to US$7 in April.

Tesla reports US$951 million in Bitcoin holdings despite earnings miss

Tesla (NASDAQ:TSLA) revealed it continues to hold $951 million worth of Bitcoin on its balance sheet, despite posting weaker-than-expected quarterly revenue of US$19.34 billion.

The automaker’s Bitcoin holdings, totaling 11,509 BTC, remained unchanged during the quarter, with no buy or sell activity recorded. This comes as Bitcoin’s price dipped from late December highs, impacting Tesla’s valuation of its digital asset portfolio under the new Financial Accounting Standards Board rules.

These rules now require corporations to mark digital assets to market on a quarterly basis, increasing transparency but also exposing earnings to crypto market volatility. Tesla’s crypto exposure, while relatively small compared to its core business, still makes it one of the top public holders of Bitcoin globally.

Riot Platforms secures US$100 million credit facility backed by Bitcoin

Riot Platforms (NASDAQ:RIOT) secured a US$100 million credit facility from Coinbase Global (NASDAQ:COIN) on Wednesday using a massive Bitcoin stockpile as collateral.

Data from Bitcoin Treasuries indicates that Riot holds 19,223 BTC valued at approximately US$1.8 billion, making the company the third-largest corporate Bitcoin treasury behind Michael Saylor’s Strategy and MARA Holdings.

“Riot has entered into its first bitcoin-backed facility, which provides us with non-dilutive funding at an attractive cost of financing,” said Jason Les, CEO of Riot, in a press release. “This credit facility is a key part of our efforts to diversify sources of financing to support our operations and strategic growth initiatives, with a view towards long-term stockholder value creation.”

Securities Disclosure: I, Giann Liguid, hold no direct investment interest in any company mentioned in this article.

Securities Disclosure: I, Meagen Seatter, hold no direct investment interest in any company mentioned in this article.

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Here’s a quick recap of the crypto landscape for Friday (April 25) as of 9:00 p.m. UTC.

Get the latest insights on Bitcoin, Ethereum and altcoins, along with a round-up of key cryptocurrency market news.

Bitcoin and Ethereum price update

Bitcoin (BTC) was priced at US$95,030.17 as markets closed for the day, up 1.8 percent in 24 hours. The day’s range has seen a low of US$94,367.25 and a high of US$95,563.75.

Bitcoin performance, April 25, 2025.

Chart via TradingView.

As the crypto market stages its comeback after weeks below its key resistance level, ARK Invest increased its most optimistic Bitcoin price forecast for 2030 from US$1.5 million to US$2.4 million. The firm attributes this upward revision to growing interest from institutional investors and Bitcoin’s expanding role as ‘digital gold.’ Cointelegraph’s market analysis cites five technical indicators pointing to valuations above US$100,000 by May.

Ethereum (ETH) ended the day at US$1,796.65, a two percent increase over the past 24 hours. The cryptocurrency reached an intraday low of US$1,772.18 and a high of US$1,819.79.

Altcoin price update

  • Solana (SOL) ended the day valued at US$151.24, down 0.1 percent over 24 hours. SOL experienced a low of US$150.90 and peaked at $155.18.
  • XRP traded at US$2.19, reflecting a 0.6 percent decrease over 24 hours. The cryptocurrency recorded an intraday low of US$2.19 and reached its highest point at US$2.22.
  • Sui (SUI), this week’s outperformer, was priced at US$3.60, showing an increaseof 8.8 percent over the past 24 hours. It achieved a daily low of US$3.56 and a high of US$3.73. Sui is up by over 67 percent for the week.
  • Cardano (ADA) was trading at US$0.7127, down 1.7 percent over the past 24 hours. Its lowest price on Friday was US$0.7099, with a high of US$0.7268.

Today’s crypto news to know

ARK Invest sees Bitcoin hitting US$2.4 million by 2030

Cathie Wood’s ARK Invest has revised its already-optimistic bitcoin forecast, now projecting the asset could reach as high as US$2.4 million by 2030 in its most bullish scenario.

The firm’s April 24 report outlines three trajectories: a bear case of US$300,000, a base case of US$710,000, and a sky-high scenario that factors in growing institutional allocations and rapid expansion of on-chain financial services.

The US$2.4 million target assumes bitcoin captures 6.5 percent of the US$200 trillion global investable asset pool, with sustained 60 percent annual growth in BTC-driven financial infrastructure. National reserves, corporate treasuries, and rising adoption in emerging markets also play critical roles in the model, but ARK identifies institutional capital as the most transformative force.

While skeptics still cite volatility and regulatory uncertainty, ARK argues that BTC’s asymmetric upside—especially amid global monetary shifts—makes it a once-in-a-generation investment thesis.

Saylor predicts BlackRock ETF will eclipse all ETFs within a decade

MicroStrategy Chairman Michael Saylor declared that BlackRock’s iShares Bitcoin Trust (IBIT) will become the largest ETF in the world within 10 years, following a record-breaking week where U.S. bitcoin ETFs drew US$2.8 billion in net inflows.

IBIT led the pack with US$1.3 billion, lifting its total assets to roughly US$54 billion and driving daily trading volumes above US$1.5 billion. For context, the current largest ETF, Vanguard’s VOO, commands a market cap over US$593 billion—nearly ten times IBIT’s current size.

Bloomberg ETF analyst Eric Balchunas acknowledged Saylor’s claim wasn’t farfetched, but said IBIT would need to consistently attract US$3 billion US$4 billion per day to overtake VOO within a decade.

The bold prediction reflects mounting institutional appetite for BTC exposure, but also underlines the extraordinary capital movement that would be required for such a paradigm shift in ETF rankings.

$ TRUMP meme coin rallies after president offers private dinner

Donald Trump’s $TRUMP meme coin surged over 70 percent after the president promised an exclusive gala dinner for the token’s top 220 holders, including a VIP reception at his Washington DC golf club for the top 25.

Launched just before Trump’s January inauguration, the coin has exploded in both market cap—now estimated around US$2.5 billion—and political intrigue, reflecting the former president’s aggressive expansion into crypto.

This latest move aims to blend campaign optics with digital asset hype, positioning Trump not just as a “crypto president,” but as an active participant in speculative retail culture.

Critics have slammed the dinner-for-holders gimmick as a political stunt and potential conflict of interest, while others say it signals a new model of decentralized donor engagement.

Regardless, the announcement caused a major pump and reignited interest across meme coin forums and pro-Trump financial channels.

Swiss central bank rejects Bitcoin in reserves

Swiss National Bank Chairman Martin Schlegel flatly rejected proposals to include bitcoin in the country’s currency reserves, stating it ‘cannot currently fulfil the requirements’ needed for official holdings.

At the SNB’s annual meeting in Bern, Schlegel cited bitcoin’s extreme volatility and insufficient liquidity as major concerns, making it unsuitable for maintaining the stability and convertibility of the national reserve portfolio.

This comes as activists behind the ‘Bitcoin Initiative’ mount a constitutional referendum campaign that would legally compel the SNB to hold BTC alongside gold. Luzius Meisser, one of the movement’s leaders, argued bitcoin could prove invaluable in a future marked by declining trust in government debt.

The SNB’s resistance, however, signals continued institutional reluctance to enshrine bitcoin as a strategic monetary asset, even in one of the world’s most financially progressive nations.

CME Group to launch XRP futures

The Chicago Mercantile Group (CME) announced plans to launch XRP futures contracts, according to an announcement by the derivatives marketplace on Thursday (April 24).

“As innovation in the digital asset landscape continues to evolve, market participants continue to look to regulated derivatives products to manage risks across a wider range of tokens,” said Giovanni Vicioso, Global Head of Cryptocurrency Products at CME Group. “Interest in XRP and its underlying ledger (XRPL) has steadily increased as institutional and retail adoption for the network grows, and we are pleased to launch these new futures contracts to provide a capital-efficient toolset to support clients’ investment and hedging strategies.”

Pending regulatory approval, participants will be able to trade micro-sized contracts comprising 2,500 XRP and/or large contracts of 50,000 XRP starting on May 19.

Nasdaq calls for consistent digital asset regulation

A letter to the US Securities and Exchange Commission (SEC) from the Nasdaq exchange on Friday (April 25) called on regulators to apply the same regulatory standards to digital assets as they do to securities, particularly if these assets function as ‘stocks by any other name.’

Nasdaq asserted that the SEC needs to develop a more distinct classification system for cryptocurrencies, suggesting that some digital assets should be categorized as ‘financial securities.’ The exchange contended that these tokens should continue to be regulated in the same manner as traditional securities, irrespective of their tokenized format.

“Whether it takes the form of a paper share, a digital share, or a token, an instrument’s underlying nature remains the same and it should be traded and regulated in the same ways,” the letter said.

The letter also proposed categorizing some cryptocurrencies as “digital asset investment contracts,” which would still be overseen by the SEC, but subject to “light touch regulation”.

Securities Disclosure: I, Giann Liguid, hold no direct investment interest in any company mentioned in this article.

Securities Disclosure: I, Meagen Seatter, hold no direct investment interest in any company mentioned in this article.

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One victim had recently returned home after decades working abroad to enjoy a retirement filled with travel and family time; another hoped the trip into the beauty of Indian-administered Kashmir would cheer the spirits of his semi-paralyzed wife.

Both men were among 26 tourists shot dead by militants this week in a massacre that has ripped open old wounds between India and its neighbor Pakistan, tipping them a step closer to military escalation.

Both countries claim Kashmir in its entirety, but each control only part. They have fought three wars over the territory – which is famous for its dramatic mountains and lush meadows – since their independence from Britain in 1947.

A bloody, decades-long insurgency in India’s part of the region has killed tens of thousands, waged by militant groups demanding either independence or a merger with Pakistan.

India says those groups are supported by Pakistan, which Islamabad denies.

Tuesday’s attack – during which men were singled out and gunned down from close range, according to survivors’ testimony – was the latest in a list of bloody incidents to stain the region.

Balachandran Menonparambil feels as though he’s lost his “right hand,” after his friend of six decades Ramachandran Narayanamenon was killed in the attack.

Having spent decades working in Qatar, Narayanamenon “looked forward to a life of retirement,” according to his friend, who described him as “a happy man,” caring and reliable.

“He was on a trip with his wife Shiela, daughter Aarti, and two grandchildren and was looking forward to enjoying himself with his grandchildren,” said the 70-year-old.

He recalled how “excited” Narayanamenon, 69, sounded in their last call before he boarded the flight to Kashmir on Monday.

A day later, Menonparambil was told that his friend was dead.

“I was watching TV and they began to show what was happening in Kashmir… so I called him, but he did not pick up,” he said.

He then reached out to Narayanamenon’s son Arvind, who told him that “Dad is gone.”

He said people came up to offer condolences to him at the cremation. “Everybody was asking me what I will do, only half of me is working now. I told them he is there with me in my heart,” he said.

Other survivors speaking to local media said the gunmen accused some of the victims of supporting Indian Prime Minister Narendra Modi.

In 2019, Modi’s Hindu-nationalist government stripped Muslim-majority Kashmir of its previous autonomy, sparking protests.

After Tuesday’s massacre, New Delhi swiftly pointed the finger at Pakistan, downgrading ties and suspending its participation in a crucial water-sharing treaty. Pakistan has denied involvement and said any attempt to stop or divert water belonging to it would be considered an act of war.

All three men, described as “loving fathers” and family breadwinners, came from just outside the megacity of Mumbai. They had taken the trip to Pahalgam together, according to Kadam.

Sanjay and Hemant were both accountants working for small private firms, while Atul worked for the Indian Railways, he said.

For the Leles, Kadam said, the trip was long planned. His sister-in-law suffers from a form of paralysis on the left side of her body that means she walks with difficulty.

“They had been planning this trip for a while but because of her health issues… it had gotten postponed. Once her health was doing better, they finally all lined up their schedules and managed to go,” he said.

“Lele told his wife that if you won’t go, none of us will go. So she agreed and finally they all went,” said Kadam.

Kadam himself did not go on the trip, but later traveled to Kashmir to help bring the shell-shocked survivors from his family back home.

The holidaying family bought food from a stall not long before the attack. Unaccustomed to the realities of the restive region, they initially mistook the sound of gunfire for fireworks, Kadam said, but were warned to take shelter by locals who sensed danger.

All three men were shot shortly after, he said. A bullet grazed his 20-year-old nephew Harshal’s hand.

It took almost four hours for disabled Kavita to struggle down the hill to safety, he said.

He said the families have taken hope from protests in India demanding justice for the victims and their families.

Still, their lives have been changed forever.

“This is not something that can end,” he said.

“We have to now live with this.”

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US President Donald Trump and Ukrainian President Volodymyr Zelensky held crunch war talks in the heart of the Vatican minutes before the start of the funeral of Pope Francis on Saturday, as the White House mounts an increasingly urgent push to strike a peace deal in Ukraine.

Photographs released by the Ukrainian presidency showed the two leaders huddled in close discussion without aides in the ornate surroundings of St. Peter’s Basilica.

A White House spokesman accompanying Trump said that the two leaders “met privately today and had a very productive discussion.” A spokesman for Zelensky said the meeting lasted for about 15 minutes, and the leaders agreed to continue talks, possibly later Saturday.

It was the first face-to-face encounter between Trump and Zelensky since a disastrous White House meeting in February, when the President and other US officials publicly berated Zelensky for being insufficiently grateful for US support and briefly suspended arms shipments and intelligence sharing.

US involvement in talks

The US has been applying more pressure on Ukraine after threatening last week it could walk away from the talks “within days” if it becomes clear a deal cannot be reached.

Trump said Friday that Russia and Ukraine are “very close to a deal” that would end the conflict, which Russia launched in 2014 and escalated with its full-scale invasion of its neighbor in 2022.

“A good day in talks and meetings with Russia and Ukraine. They are very close to a deal, and the two sides should now meet, at very high levels, to ‘finish it off,’” Trump wrote on Truth Social after landing in Rome for the funeral of Pope Francis.

Trump’s special envoy Steve Witkoff met with Russian President Vladimir Putin for three hours on Friday, according to Russian presidential aide Yuri Ushakov, who said the talks were “constructive and very useful.”

Before leaving Kyiv for Rome on Friday, Zelensky suggested a number of compromises with the goal of advancing peace talks.

“In the coming days, very significant meetings may take place — meetings that should bring us closer to silence for Ukraine,” he said.

“We are ready for dialogue, I emphasize again, in any format with anyone,” he said, but “only after a real signal that Russia is ready to end the war. Such a signal is a complete and unconditional ceasefire.”

Kyiv and Moscow have not met directly since the early weeks of Moscow’s February 2022 invasion of its smaller neighbor. Any direct talks would likely require further discussion and add delay to the diplomacy the Trump administration has hoped will yield results in a matter of days.

Accepting that Ukraine would not join NATO in the foreseeable future, he said: “I think we have to be pragmatic. We have to understand what security guarantees Ukraine needs.”

Zelensky said those guarantees might include a military contingent from Europe and what he called a “backstop” from the United States.

“For us, the backstop does not necessarily have to be boots on the ground in Ukraine,” Zelensky said, but could include cyber defense “and above all Patriot air defense systems.”

On Thursday, Kyiv was hit by the largest wave of Russian missile strikes since July last year. Twelve people were killed.

‘Ukraine Deal Framework’ still faces hurdles

Zelensky also spoke Friday of what he called “constructive” proposals drawn up in London this week between Ukrainian and European officials.

A copy of those proposals was obtained by Reuters. Titled “Ukraine Deal Framework,” it proposes a full and unconditional ceasefire in the sky, on land and at sea, as Ukraine has previously agreed to.

The draft proposed Ukraine would receive “robust security guarantees including from the US … while there is no consensus among Allies on NATO membership.” Those would be similar to those in NATO’s Article 5, under which all members are obliged to assist an attacked nation.

One part of the draft that is likely to be opposed by Moscow says that “the guarantor states will be an ad hoc group of European countries and willing non-European countries.” There would be “no restrictions on the presence, weapons and operations of friendly foreign forces on the territory of Ukraine,” nor on the size of the Ukrainian military.

The draft says negotiations on territory would begin after the ceasefire comes into effect, and their starting point would be the current frontlines. But it adds that Ukraine would regain control of the Zaporizhzhia nuclear power plant, which has been occupied by Russian forces since March 2022.

On the proposed minerals agreement between the US and Ukraine, which would give the US access to billions of dollars-worth of rare metals, the draft says Ukraine will be fully compensated financially, including through Russian assets that will remain frozen until Russia compensates damage to Ukraine.

Moscow is also likely to oppose that.

The draft obtained by Reuters does not mention specifically mention Crimea. Witkoff’s plan proposed the US recognize Crimea as part of Russia, but did not suggest that Ukraine also had to. Recognizing Russian control of Crimea, which Moscow illegally annexed in 2014, would cross a major red line for Ukraine and its European allies, and would be in breach of established international law.

Zelensky rejected the idea, saying there was “nothing to talk about” as such a recognition would be against Ukraine’s constitution. He told reporters Friday: “I agree with President Trump that Ukraine does not have enough weapons to regain control of the Crimean peninsula by force of arms. But the world has sanctions opportunities, other economic pressure.”

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During the Francis papacy, the role of women in the church emerged as a pressing priority, with Catholics across the globe calling for change.

The Argentine pontiff listened, breaking some important glass ceilings in the Vatican when it came to appointing female leaders to senior positions. He chose to make gradual changes that, to the outside may have seemed like small steps, but were huge leaps to those on the inside.

The pope appointed the first woman leader of a department in the church’s central administration and the first female president of the office governing the Vatican City State. Francis also chose the first women to sit at the board level in the church’s central administration, including at the influential department for choosing bishops.

By 2023, 10 years into his pontificate, the percentage of women in the Vatican workforce had risen from 19.2 to 23.4%. More broadly, Francis gave women the power to vote for the first time at a major global gathering of bishops, known as a synod, and formally opened up non-ordained ministry roles as he sought to increase participation.

On Holy Thursday last year he broke with tradition by travelling to a female prison in Rome to wash the feet of 12 women prisoners. It was the first time a pontiff had only washed the feet of women in the annual ceremony that emphasizes humility.

But while the pope made some landmark reforms, many will be hoping that his successor moves further, and faster, and there was sometimes sharp criticism of his stance on the role of women in society.

Kim Daniels, the director of Georgetown University’s Initiative on Catholic Social Thought and Public Life and a Vatican adviser on communication, said the pope had “made significant strides towards greater inclusion of women in church decision-making” and that his reforms to broaden participation would be key to his legacy.

The lack of opportunity for women in the church is likely to come into sharp focus during the forthcoming papal conclave: Only members of the all-male body which is the College of Cardinals will vote on who will become the next pope.

It highlights a wider concern that Catholics across the world have raised in recent years: That while women frequently make up a majority in the pews on Sunday, they are scarcely represented at the church’s decision-making levels. Although lay people are increasingly more involved in church administration, it is primarily bishops and priests who make final decisions.

The problem is exacerbated by the fact that women are on the front lines of the church’s work on the ground, with nuns providing healthcare and education in developing countries and plenty of women leading Catholic schools and universities.

On the question of female involvement in a conclave, some have argued that women could be made cardinals, given the role of a cardinal is primarily to advise a pope and elect his successor.

Ordination questions

Sister Christine Schenk, an American nun, author and founder of international reform-focused group “FutureChurch,” said it was time to give a “deliberative voice” to women and lay people at “every level of the church,” adding that if the same model of electing a pope remains in place, “we need as many female cardinals as male cardinals at the conclave.”

A more realistic possibility in the short term is allowing women to once again become deacons, an ordained ministry distinct from the priesthood. Deacons can witness marriages, perform baptisms and preach during Mass. Those in favor point to evidence for female deacons in scripture and their presence in the early church right up until the Middle Ages.

Women deacons could also bolster the church’s presence in schools, hospitals and prisons, along with providing leaders for Catholic communities. Church leaders in the Amazon, where priests are in short supply, raised the question at a 2019 synod, calling on the pope to “promote and confer ministries for men and women in an equitable manner.” A 2024 synod concluding document, approved by the pope, said that the question of ordaining women as deacons should remain an “open” question.

To that end, several Vatican commissions were set up study the question of female deacons were established by Francis, although no findings were never made public.

Francis maintained the ban on women’s ordination as priests and deacons, something which disappointed those keen to see women in more visible church leadership roles, but insisted that decision-making and leadership doesn’t depend on whether someone is ordained. He repeatedly stated that the church is female and asked for theologians to help in trying to “de-masculinize” it.

Centuries of misogyny

Significantly, a live debate in the church about the role of women is being allowed to take place. Schenk described it as the most impactful shift during the Francis pontificate, ending the marginalization of “Catholics who wish to discuss full inclusion of women in every aspect of church ministry and decision-making.”

“The question Francis looked at is how to get more people involved in the work of the church, in as many ways and places as possible. That is why he appointed women to senior roles in the Vatican,” said Hofstra University Professor Phyllis Zagano, a member of the first commission on female deacons.

“On the question of women deacons, Francis was trying to deal with centuries of misogyny that misunderstood the role of women in the church and society. The synod process he started tried to get the church away from a male-only perspective and to look at women, rather than as a problem to be solved, but as able to be fully involved in the church’s work. Restoring women to the ordained diaconate reinforces the trajectory the church has been on.”

Despite the various ways Francis initiated reforms and made appointments, there is still a long way to go until women are given greater roles and responsibility in the church. The next pope is likely to find this topic right at the top of his in-tray.

“Previously the Vatican – indeed many, if not most, prelates – were leery of even using the words ‘women’ and ‘ministry’ in the same sentence,” said Schenk. “Now such issues are being openly discussed – something long overdue and a sign of newfound strength and maturity in a church that no longer fears discerning (and) discussing changes in how we walk together as the People of God.”

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