Autor Cointelegraph by Amin Haqshanas

A 20-year-old California man has been sentenced to six and a half years in federal prison for his role in a crypto theft ring that defrauded victims of more than $250 million.Marlon Ferro, of Santa Ana, known online as “GothFerrari,” was sentenced to 78 months in prison alongside three years of supervised release and $2.5 million in restitution, the US Attorney’s Office for the District of Columbia said Wednesday. Ferro pleaded guilty in October 2025 to participating in a Racketeer Influenced and Corrupt Organizations (RICO) conspiracy.“Marlon Ferro served as the criminal enterprise’s instrument of last resort,” US Attorney Jeanine Ferris Pirro wrote, adding that when co-conspirators couldn’t talk victims into surrendering their crypto or hack into their accounts remotely, they sent Ferro to break in physically and steal the hardware wallets storing the funds.In a February 2024 incident, he traveled to Winnsboro, Texas, broke into a home and walked out with a hardware wallet holding about 100 Bitcoin worth more than $5 million at the time. Months later, he flew to New Mexico, spent days staking out a residence and used a brick to smash his way inside while co-conspirators monitored the victim’s location through his iCloud account. A home surveillance camera caught him in the act.Ferro using a brick to break into a victim’s home. Source: JusticeRelated: Coinbase faces lawsuit over frozen funds from $55M crypto theftWhen hacking didn’t work, they sent a burglarThe conspiracy ran from late 2023 to early 2025, with members across California, Connecticut, New York, Florida and overseas. The conspirators each had a role, including hacking databases, identifying targets, making fraudulent calls and laundering money. When victims kept their funds on hardware wallets that couldn’t be accessed remotely, the gang turned to Ferro.Ferro and his co-conspirators spent the stolen funds on luxury items, including Hermès Birkin bags, watches priced up to $500,000, private jets and exotic cars worth as much as $3.8 million. Nightclub tabs alone reached $500,000 in a single evening.Ferro also laundered money using fake identification documents, purchased over $255,000 in designer goods for co-conspirators, and helped a jailed conspiracy leader by converting crypto to cash to cover legal fees.The investigation was led by the FBI and IRS Criminal Investigation.Related: Law enforcement freezes $41M connected to $150M crypto Ponzi collapseCrypto hack losses top $630 million in AprilApril was the worst month for crypto hacks in over a year, with losses totaling $629.7 million, according to DefiLlama. KelpDAO’s $293 million exploit and Drift Protocol’s $280 million hack drove the bulk of the damage, together accounting for more than 90% of monthly losses.According to Chainalysis security head Yaniv Nissenboim, April’s hack surge reflects a shift toward sophisticated attacks targeting the infrastructure connecting onchain protocols to offchain systems.Magazine: AI-driven hacks could kill DeFi — unless projects act nowCointelegraph is committed to independent, transparent journalism. This news article is produced in accordance with Cointelegraph’s Editorial Policy and aims to provide accurate and timely information. Readers are encouraged to verify information independently.

BNY has partnered with Abu Dhabi-based Finstreet and ADI Foundation to develop institutional digital asset custody services for clients in the United Arab Emirates.The initial focus is on Bitcoin and Ether custody for Finstreet’s existing clients, with plans to later extend to ADI Foundation’s blockchain infrastructure, the world’s largest custodian said in a Thursday announcement. The companies said they intend to expand the product scope to include stablecoins, tokenized real-world assets and other regulated digital instruments, though no timeline was given.“BNY is uniquely positioned to connect traditional and digital financial ecosystems,” Hani Kablawi, executive vice chair at BNY, said. BNY claimed it is the first US global systemically important bank to offer digital asset custody.The three firms will offer digital asset custody services from the Abu Dhabi Global Market (ADGM), an international financial center and free zone on Al Maryah Island. The initiative remains subject to definitive agreements and regulatory approvals, according to BNY.Related: UAE free zone launches blockchain-based business IDs for registered firmsUAE stablecoin infrastructure expandsFinstreet is a subsidiary of Sirius International Holding, which is backed by UAE conglomerate IHC. IHC recently joined other institutions in launching DDSC, a dirham-backed stablecoin regulated by the UAE central bank. The stablecoin operates on ADI Chain, an institutional layer-2 blockchain developed by ADI Foundation.PUSD, a Shariah-compliant stablecoin backed by reserves denominated in Saudi riyals and UAE dirhams, is also expected to launch on ADI Chain.In 2025, ADI Chain signed memoranda of understanding with BlackRock, Mastercard and Franklin Templeton tied to tokenized asset settlement and digital financial infrastructure.The UAE has continued developing its digital asset regulatory framework and tokenization infrastructure in recent years, licensing firms including Animoca Brands, BitGo and Binance while introducing rules covering tokenized stocks, ETFs and crypto derivatives.Cointelegraph reached out to BNY for a comment, but had not received a response by publication.Related: UAE investors buy AI dip, keep crypto exposure despite conflictUAE stablecoins launch regulated conversion railThe BNY collaboration comes as Abu Dhabi firms push deeper into regulated digital asset infrastructure.In a Thursday announcement, AE Coin and USD Universal said they are building a regulated conversion rail that allows near-instant exchange between the UAE dirham-pegged AE Coin and the US dollar-backed USDU stablecoin, targeting institutional payments and treasury management.The system runs on Al Maryah Community Bank’s infrastructure and will initially be accessible through Aquanow and Changer.ae, two regulated digital asset service providers in the UAE.Magazine: Guide to the top and emerging global crypto hubs: Mid-2026Cointelegraph is committed to independent, transparent journalism. This news article is produced in accordance with Cointelegraph’s Editorial Policy and aims to provide accurate and timely information. Readers are encouraged to verify information independently.

Digital asset investment products recorded $117.8 million in inflows last week, marking a fifth consecutive week of gains after a late-week rebound reversed earlier outflows.Crypto exchange-traded products (ETPs) shed $619 million across Monday through Thursday before a single-session inflow of $737 million on Friday flipped the week to positive, according to a report from CoinShares published Tuesday. Total assets under management held steady at $155 billion.The Friday figure ranks among the largest single-day inflows of 2026, CoinShares head of research James Butterfill wrote, adding that it reflects “a sharp improvement in risk appetite.”Weekly crypto product flows. Source: CoinSharesThe five-week run has now totaled $4.02 billion, making it the longest and largest inflow streak of 2026, surpassing the previous best of $2.9 billion, recorded in March.Related: Bitcoin ETFs Post Strong April Inflows as Ether Turns PositiveBitcoin products drew $192.1 million in inflows, lifting year-to-date flows to $4.2 billion. However, that figure is well below the previous three weeks’ average of nearly $1 billion. Short-Bitcoin products saw modest inflows of $6 million.Ethereum reversed course with $81.6 million in outflows, snapping a three-week streak of inflows above $190 million. “The narrowing in participation from nine assets to four this week is the clearest signal that sentiment softened through the working week before recovering on Friday,” Butterfill wrote.Regionally, the United States recorded just $47.5 million in inflows, a sharp drop from $1.1 billion the prior week. Germany had $43.8 million, while Canada added $16 million.Related: Morgan Stanley launches stablecoin offering through money market fundBitcoin ETFs pull in $532 million in single daySeparately, US-listed Bitcoin exchange-traded funds (ETFs) recorded strong inflows at the start of this week. US spot Bitcoin ETFs pulled in $532.21 million on Monday, led by BlackRock’s IBIT with $335.49 million and Fidelity’s FBTC with $184.57 million. The day extended a three-day winning streak that followed a $490.63 million outflow stretch last week.The inflows came as Bitcoin crossed back above $80,000 for the first time in more than three months amid improving risk sentiment following the US-Iran ceasefire agreement on April 8.Magazine: Bitcoin will not hit $1M by 2030, says veteran trader Peter BrandtCointelegraph is committed to independent, transparent journalism. This news article is produced in accordance with Cointelegraph’s Editorial Policy and aims to provide accurate and timely information. Readers are encouraged to verify information independently.

US spot Bitcoin ETFs recorded $532.21 million in net inflows on Monday as Bitcoin pushed back above the $80,000 mark amid improving risk sentiment following the ceasefire agreement between the US and Iran.BlackRock’s iShares Bitcoin Trust (IBIT) led the pack with $335.49 million in daily inflows, followed by Fidelity’s Wise Origin Bitcoin Fund (FBTC) with $184.57 million, according to SoSoValue data. Morgan Stanley’s Bitcoin ETF (MSBT) was the only other fund to post positive flows on the day, adding $12.16 million. The remaining funds recorded no new inflows.Monday’s inflows extended a three-day winning streak. On Friday, the funds pulled in $629.73 million, while Thursday saw a modest $14.76 million. The streak came after three consecutive days of outflows in which funds shed $490.63 million, the heaviest sustained redemption period in recent weeks.Spot Bitcoin ETFs weekly inflows. Source: SoSoValueThe inflow surge comes as Bitcoin surges above $80,000 for the first time in more than three months. The leading cryptocurrency is currently trading at around $81,029, up 1.5% over the past day, according to data from CoinMarketCap.Related: Bitcoin ETFs snap nine-day inflow run as BTC slips below $77KBitcoin reclaims $80,000 on post-ceasefire bounceIn a recent note, Bitunix analysts said that the surge comes as Bitcoin continues to extend “its post-ceasefire recovery in risk appetite.” According to the analyst, BTC reclaimed the key $80,000 psychological level after a concentrated short-side liquidity squeeze in the $79,500-$81,000 range, with the $77,000-$78,000 zone now acting as the primary support for leveraged longs.However, the bigger picture is more complicated, the Bitunix analysts said, adding that macro and geopolitical forces are increasingly driving crypto price action. The US military’s launch of “Operation Freedom,” deploying 15,000 personnel to secure shipping lanes through the Strait of Hormuz, has rattled nerves, with Iran warning the move could violate the existing ceasefire framework.At the same time, this week’s US Non-Farm Payrolls report and Federal Reserve commentary are expected to set the tone for risk assets broadly. If inflation expectations stay elevated, the Fed could hold rates higher for longer, squeezing crypto valuations. Softer data, on the other hand, could trigger a rotation back into tech and digital assets.“Overall, BTC is no longer being driven solely by internal crypto-market sentiment, but has entered a phase jointly priced by ‘macro events + liquidity structure,’” the analyst said.Related: Bitcoin ETFs Post Strong April Inflows as Ether Turns PositiveSpot Ether ETFs reboundSpot Ether ETFs also saw $61.29 million in net inflows on Monday. This followed an even stronger session on Friday, which brought in about $101.18 million, helping push cumulative net inflows above $12 billion.The new streak comes as late April saw notable outflows, including $87.73 million on April 29 and $75.94 million on April 23, alongside smaller negative days like April 28 and April 30.Asia Express: North Korea denies crypto hacks, Upbit’s bank tests RippleCointelegraph is committed to independent, transparent journalism. This news article is produced in accordance with Cointelegraph’s Editorial Policy and aims to provide accurate and timely information. Readers are encouraged to verify information independently.

Crypto and AI industry groups are pumping tens of millions of dollars into the 2026 midterm elections, but a new poll shows most Americans don’t trust either industry.45% of Americans say investing in cryptocurrency is not worth the risk and 44% say AI is developing too fast, according to an April survey by Public First for Politico. The survey also found that narly half trust a traditional bank over a crypto platform, and two-thirds want Congress to impose strict regulations or broad oversight principles on AI.The numbers spell trouble for candidates taking money from industry-aligned super PACs. In hypothetical matchups, poll respondents were far less likely to back candidates supported by groups pushing looser AI regulations than those backed by groups calling for tighter tech rules.“Skepticism of the industries, those results suggest, could turn into voter backlash if Americans grow fed up with the heavy spending,” the report said.The poll was conducted between April 11 and 14, surveying 2,035 US adults online. Results were weighted by age, race, gender, geography and educational attainment, with an overall margin of sampling error of ±2.2 percentage points.Related: White House confirms Trump to address memecoin gala on SaturdayAI, crypto PACs spend bigPro-AI super PAC Leading the Future, which launched in August 2025, has raised more than $75 million and deployed funds in primaries across North Carolina, Texas, Illinois and New York. Fairshake, the pro-crypto PAC backed by Coinbase, Andreessen Horowitz and Ripple Labs, has already spent $28 million across competitive primaries.Source: PoliticoBoth industries are also spending heavily on lobbyists. OpenAI and Anthropic posted record lobbying expenditures in the first quarter of 2026. The crypto industry, meanwhile, is pushing the CLARITY Act through the Senate, a market structure bill it hopes will bring regulatory certainty to digital assets.In 2024, a Fairshake-affiliated PAC spent over $40 million helping defeat Ohio Senator Sherrod Brown, a longtime crypto critic who is now running again.Related: Crypto PAC Fellowship Halts Support of Texas AG for Senate: ReportCrypto, AI PACs are flying under the radarFor now, most voters don’t know these groups exist. Just 9% have heard of Leading the Future and only 3% recognize Fairshake. However, political observers told Politico that once voters connect the money to the industries behind it, the backlash could be swift.“I do think if they see somebody is backed by crypto, that’s always going to be a problem,” former Ohio Rep. Jim Renacci reportedly said.Magazine: Bitcoin will not hit $1M by 2030, says veteran trader Peter BrandtCointelegraph is committed to independent, transparent journalism. This news article is produced in accordance with Cointelegraph’s Editorial Policy and aims to provide accurate and timely information. Readers are encouraged to verify information independently.