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New Fire Technology (1611.HK) announced that it will acquire the investment team and trading system of the Li Lin family office Avenir Group for $1.6 million.After the acquisition is completed, New Fire Technology plans to launch a Bitcoin-denominated asset management service called Alpha BTC, aiming to attract investments of over 10,000 Bitcoins within a year, valued at approximately $760 million. This strategy will generate returns through trading derivatives such as options, with Bitcoin or IBIT ETF as the underlying assets, targeting clients including crypto-native investors and local businesses in Hong Kong. Avenir Group holds 18.3 million shares of BlackRock iShares Bitcoin Trust, valued at $908 million, as of the end of 2025.

Letitia James has filed a lawsuit against Coinbase and Gemini, accusing them of providing "disguised gambling" services through their prediction market platforms, in violation of New York state law.Regulators believe that such trades based on event outcomes (such as sports and elections) essentially fall under gambling activities, particularly questioning the participation of users aged 18 to 21, while New York law sets the minimum age for sports betting at 21. The prosecution is seeking hefty fines and the recovery of profits, with claims of at least $2.2 billion against Coinbase and at least $1.2 billion against Gemini. The two companies have not officially responded, but Coinbase has indicated that prediction markets are regulated by the Commodity Futures Trading Commission, suggesting that their legality falls under federal jurisdiction.

According to market news, court records show that the state of New York has sued cryptocurrency trading platforms Coinbase Financial Markets and Gemini Titan, accusing them of violating the state's administrative laws.

Binance will launch Chip (CHIP) on April 21, 2026, at 21:30. Binance Wealth Management will open the CHIP principal-protected earning product for subscription; users can purchase CHIP using credit cards, debit cards, etc., through one-click buy. The instant exchange trading platform will support CHIP exchanges for BTC, USDT, and other tokens; VIP borrowing will launch CHIP as a borrowable asset. Binance Futures will launch the CHIPUSDT perpetual contract, with a maximum leverage of up to 50 times.

Binance co-founder He Yi responded to questions about personal plans and the company's management structure at the BNB Chain event in Hong Kong.Regarding whether he would write a book, He Yi said, "Never say never," but at this stage, he has no desire to express that and is not considering writing a book for now. When discussing how to face challenges, He Yi summarized two points: first, the mutual trust between Binance and its users; second, having great employees is crucial.Regarding changes in the management structure, He Yi pointed out that CZ is the founder and the foundation, but he has currently stepped back from management. The current management structure is led by him and Richard Teng, and they will continue to seek suitable partners globally in the future. On this basis, Binance will focus on applying for more global licenses, with Richard responsible for establishing standards, while He Yi focuses on user growth and service.

According to The Block, Yuga Labs announced a management adjustment, with co-founder and CEO Greg Solano transitioning to the role of chairman of the board, and current Chief Product Officer Michael Figge taking over as CEO; Figge joined the company in 2021 and began his duties a few weeks ago. This adjustment comes as the company continues to advance its metaverse project, Otherside.

According to Globenewswire, the American law firm Bernstein Liebhard has announced that it has filed a securities fraud class action lawsuit on behalf of investors against the Nasdaq-listed cryptocurrency exchange Gemini Space Station, alleging that Gemini made false statements regarding its business operations and prospects in its prospectus and related disclosures, particularly accused of exaggerating the viability of its core cryptocurrency platform business. Investors wishing to serve as lead plaintiffs must submit their applications by May 18, 2026.It is reported that Bernstein Liebhard is a well-known investor relations law firm that has previously filed class action lawsuits against companies such as Ruhnn, Apple, and AsiaInfo-Linkage.

According to Fortune magazine, in the context of a downturn in the crypto market in 2025 and the distribution of profits to investors, the portfolio values of crypto venture capital firms such as Paradigm and a16z crypto have significantly shrunk.According to filings with the U.S. Securities and Exchange Commission (SEC), the total assets under management (AUM) of four crypto funds under a16z crypto dropped nearly 40% from 2024 to 2025, falling to $9.5 billion. Part of the reason is that the firm began returning capital to investors from earlier funds, and the timing of the returns coincided with the market peak in 2025, with a net DPI (distributions to paid-in capital) of 5.4 for its first crypto fund.Multicoin Capital's AUM has more than halved, dropping to about $2.7 billion. Paradigm's holdings also slightly decreased by about 6%. Meanwhile, the total size of a16z crypto's parent company, Andreessen Horowitz, has exceeded $100 billion.The report points out that the shrinkage in assets under management reflects the decline in portfolio value due to the market downturn, and is also a sign of normal exits by VCs and the return of funds to limited partners (LPs). Some firms, such as Haun Ventures, have seen their AUM grow by over 30%, reaching around $2.5 billion.Currently, Paradigm is seeking to raise a new fund of $1.5 billion, and a16z crypto is also raising up to $2 billion for its fifth fund.

BitMEX co-founder Arthur Hayes stated in his latest article that his fund Maelstrom is currently in a "No Trade Zone," and aside from a slight increase in long positions in Hyperliquid, trading operations have basically ceased in the first quarter.Hayes believes the current market faces two key variables: first, the large-scale proliferation of AI agents will destroy the flexible labor market in the West, leading to a wave of unemployment among knowledge workers and a deflationary financial collapse; second, the war against Iran led by the Trump administration has been ongoing for seven weeks, posing a serious threat to shipping in the Strait of Hormuz.

The UK asset management firm Legal & General has put its managed liquidity funds, exceeding £50 billion, on-chain through the tokenized distribution network launched by Calastone.The firm is now offering money market funds in tokenized share form on this network, supporting USD, EUR, and GBP, covering issuance, trading, and same-day settlement. Investors can purchase, hold, and transfer the related tokenized shares within a permissioned, regulated network. The relevant funds will be deployed on Ethereum and compatible blockchains, with plans to expand to more networks in the future.

Sharon Yeshaya, Chief Financial Officer of Morgan Stanley, stated that tokenization and on-chain finance will become key evolutionary directions for its wealth management business.The company is envisioning a "tokenized world," where customer assets and liabilities can flow as efficiently as funds through blockchain infrastructure, thereby reshaping asset allocation, lending, and cash management methods. Unlike viewing cryptocurrency as a standalone business, Morgan Stanley plans to embed on-chain capabilities into its core service system, including investment advisory, financing, and liquidity management, to drive an overall upgrade of the financial architecture. This strategy has been gradually implemented through digital asset pilots with ZeroHash and products like Bitcoin ETFs. Although the current share of cryptocurrency business in the overall system is still small, its position in the future wealth management system is rapidly increasing.

Gate released its latest transparency report, with a simultaneous strengthening of its financial management and security systems. Against the backdrop of market fluctuations, Yu Bi Bao and on-chain earnings have achieved dual growth in user and fund scale, with on-chain earnings holding 3,084 BTC and 175,700 ETH, both reaching historical highs; the ETF business's trading volume in March exceeded 18 billion USDT, with continuous improvement in ecological participation.In terms of security and transparency, the platform's latest overall reserve coverage rate reached 122%, with a BTC reserve rate as high as 147%, and various assets maintaining excess reserves, further enhancing risk resistance capabilities. Additionally, in the RootData exchange transparency ranking, Gate ranked second globally, with its comprehensive strength continuously validated by the market. Furthermore, Gate continues to expand its global influence, partnering with the F1 Red Bull Racing team to host an F1 Japan Grand Prix viewing event in March, deepening brand connections and user engagement through high-profile collaborations. Gate has formed a synergistic effect in the growth of financial management scale, continuous improvement in transparency, and global brand expansion, further consolidating its leading position in the industry.

According to Arkham monitoring, the Winklevoss brothers have just withdrawn $42.77 million worth of BTC from Gemini. Their last large movement occurred over a month ago when they deposited $128.5 million worth of BTC into Gemini, which reduced their Bitcoin balance to its lowest level since 2012, holding only 8,800 coins.

According to Coinbase Chief Legal Officer Paul Grewal, Virginia Governor Abigail Spanberger has signed HB 798, a bill that extends the state's unclaimed property regulations to digital assets and ensures that digital assets can be managed for attribution as they are.This initiative aims to improve the legal attribution and handling mechanisms for digital assets. Paul Grewal expressed his gratitude for this.