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Are Ethereum Whales Dumping And Crashing The Price? Here’s What We Know

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Are Ethereum Whales Dumping And Crashing The Price? Here’s What We Know

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Latest Ethereum on-chain activity has given traders a clear reason to look at the sell side. A series of large ETH transfers tied to wallets linked with Galaxy Digital has raised questions about whether whales are actively dumping into the market. 

Data from on-chain transaction tracker Lookonchain shows that two wallets linked to Galaxy Digital recently deposited 45,000 ETH across multiple crypto exchanges over a 15-hour window.

Ethereum Whales Move $104 Million In ETH To Exchanges

On-chain data shows that some Ethereum whale wallets are currently on a roll of transactions. These Ethereum whale wallets involved were flagged by Lookonchain as belonging to Galaxy Digital, the digital asset firm co-founded by Mike Novogratz.

The on-chain transfers flagged by Lookonchain show a clear pattern: large amounts of ETH moved from two whale wallets associated with Galaxy Digital-linked addresses into centralized crypto exchanges. 

As shown in the screenshots shared from Arkham data, the transfers were routed to Binance, Bybit, and OKX deposits, with individual movements including 15,000 ETH, 17,000 ETH, 10,000 ETH, 8,500 ETH, 7,500 ETH, 4,250 ETH, and 3,250 ETH across different transactions. Taken together, these transfers totaled 45,000 ETH, worth around $104 million, and all were made within the space of 15 hours.

Are Whales Crashing ETH?

Exchange deposits are noteworthy because they often increase the chance of selling. The movement of ETH from self-custody into an exchange can be interpreted as a sign that Galaxy Digital may already be selling a notable portion of its holdings.

The Ethereum price has fallen by 2.8% and 2.3% in the past 24-hour and seven-day timeframes, respectively. At the time of writing, Ethereum is trading at $2,262. 

The weakness is not limited to on-chain whale activity alone, as Spot Ethereum ETF inflows have also slowed down. SoSoValue data shows that Ethereum Spot ETFs recorded $87.7 million in net outflows on April 29, marking a third consecutive day of outflows. This was enough to flip the weekly flows to a negative $160 million.

However, the latest Ethereum weakness is not taking place in a one-sided whale dump. On-chain data shows that Ethereum is witnessing an equal amount of whale purchases that might be able to offset the selloffs.

For example, Lookonchain noted that Tom Lee’s BitMine bought another 20,000 ETH worth about $44.8 million on April 30, bringing its total purchases to 65,000 ETH worth roughly $147 million over the past 24 hours.

Other whale wallets are also showing signs of accumulation. Lookonchain reported that whale wallet 0xE5eB withdrew 4,361 ETH, worth about $9.98 million, from Kraken after three months of inactivity. Another newly created wallet, 0xA605, withdrew 2,000 ETH, worth about $4.58 million, from Binance.

Ethereum
ETH trading at $2,264 on the 1D chart | Source: ETHUSDT on Tradingview.com

Featured image from iStock, chart from Tradingview.com

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Germany’s AllUnity expands EURAU to Solana as euro stablecoins gain traction

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Germany’s AllUnity expands EURAU to Solana as euro stablecoins gain traction

AllUnity, a joint venture backed by DWS, Flow Traders and Galaxy Digital (GLXY), took its euro-backed stablecoin, EURAU, to the Solana blockchain, extending the token’s reach to a high-speed network often used for payments and trading.

EURAU, which debuted last July on Ethereum, is fully reserved and issued under a regulated e-money framework aligned with the European Union’s MiCA rules, the company said in an emailed statement. By adding Solana, AllUnity aims to offer faster settlement and lower transaction costs for euro-denominated transfers.

The setup allows businesses and developers to move euros onchain in seconds. Payments firms, for example, could send cross-border payouts to contractors in real time instead of waiting days for bank transfers, and the same mechanism can also support trading, lending or treasury management using a stable euro unit.

The move reflects growing interest in non-dollar stablecoins, especially in Europe, where firms seek digital assets that meet regulatory standards. While U.S. dollar tokens dominate the $300 billion stabelcoin market, euro-pegged tokens have seen rapid growth, doubling since the start of 2025 to almost $1 billion.

The S&P projected the market could reach 570 billion euros ($672 billion) by 2030. French Finance Minister Roland Lescure called for more euro-denominated stablecoins and urged EU banks to explore tokenized deposits.

AllUnity also highlighted that demand for regulated euro stablecoins is rising, and that expanding across multiple blockchains could help drive broader adoption in both finance and corporate payments.

“As demand for compliant euro stablecoins accelerates, Solana’s speed and scalability make it a natural environment for institutional-grade settlement and cross-border payments,” said Peter Grosskopf, CTO and COO of AllUnity.

AllUnity said several partners, including Bullish (owner of CoinDesk), Privy, Hercle and Transak, are preparing to use EURAU on Solana for payments, trading and fiat onramps.

Read more: Europe’s banks are going all in on crypto

How North Korean spies spent months in-person to drain $285 million from Drift

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How North Korean spies spent months in-person to drain $285 million from Drift

North Korean government-backed hackers are becoming more sophisticated, more precise and now account for more than 76% or nearly $600 million in crypto losses this year alone.

The $285 Drift Protocol exploit, for example, involved what TRMLabs describes as a long and “unprecedented in-person social engineering” attack. It included months of in-person meetings between North Korean proxies and Drift employees.

“North Korean proxies sitting across a table from protocol employees over a period of months. That is, to my knowledge, unprecedented in North Korea’s crypto hacking campaign,” Ari Redbord, Global Head of Policy and Government Affairs at TRMLabs, told CoinDesk. “This is no longer just a remote keyboard operation.”

Ari’s comments accompany TRMLabs’ new report released Thursday, which highlights how North Korea’s two main hacking groups, DPRK and Lazarus, are responsible for 76% of all the crypto losses to hacks and exploits in 2026.

“What we are watching is not a North Korean campaign that is broader — it is one that is sharper,” Redbord said in the report. “North Korea is moving faster and more precisely than ever.”

“North Korea’s cumulative crypto theft now exceeds $6 billion attributed incidents since 2017,” TRM Labs’ report adds.

TRMLabs’ findings coincide with a Wasabi Protocol exploit using a similar playbook to Drift’s April 19 hack, where the assailants used a compromised deployer key with no timelock or multisig to drain $4.5 million.

The $292 million KelpDAO breach exploited a known single-verifier flaw that LayerZero had repeatedly warned against.

The playbook was vastly different from the Drift exploit, according to TRMLabs. Hackers converted the Drift proceeds to USDC, bridged to Ethereum, swapped into ETH, and have not moved them since the day of the theft, which is consistent with the DPRK’s patient, multi-year cashout pattern.

In contrast, Lazarus took their KelpDAO proceeds and immediately laundered them through THORChain and Umbra, which is handled almost entirely by Chinese intermediaries operating the well-documented TraderTraitor playbook, the report explains.

The Kelp DAO exploit triggered DeFi’s largest wipeouts as $13 billion exited several lending platforms, most notably, Aave’s, which lost $8.54 billion in deposits over 48 hours, leaving it with a nearly $200 bad-debt crisis, which industry participants are now helping it to alleviate with $300 million in pledges.

Mistral’s Model Lets You Vibe Long-Running Code in the Cloud

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Mistral’s Model Lets You Vibe Long-Running Code in the Cloud

With vibe coding growing in popularity, Mistral AI introduced remote coding agents in Vibe and a Work mode in its AI chatbot, all powered by a new model.

Mistral revealed on April 29 that its cloud coding agents can run for extended periods independently without supervision. The remote agents in Vibe are powered by Mistral Medium 3.5, the French startup’s new open-weight default model, as are the coding agents Mistral Vibe and Le Chat. The model is built to run for long stretches on coding and productivity, Mistral said. It has 128B parameters with a 256K context window, which allows it to manage instruction-following, reasoning and coding. 

Mistral’s remote agents and model update exemplify the rapid growth of vibe coding in just the past year. The popularity of coding with AI models, using natural language, has exploded since OpenAI co-founder Andrej Karpathy coined the term in 2025. Mistral has moved heavily into it with the release of various models and tools that prioritize natural language over line-by-line coding. Last year, the Paris-based vendor introduced Mistral Vibe CLI, its command-line interface that developers can use to describe tasks in English. It also released Vibe 2.0 earlier this year, which enables agents to ask for clarification when a prompt is unclear.

Related:Agentic Marketing Platform for Enterprises Valued at $2.75B

A Unified Interface

With the new model, Mistral is seeking to make it easier for developers to do more with less, said William McKeon-White, an analyst at Forrester Research.

“This ‘making it easier’ also allows you to do more from whatever interface you want,” McKeon-White said. He added that with the model and remote-vibe coding, developers can access a coding terminal or interface directly connected to a code repository, either using the web or locally. This differs from Anthropic in that Claude Code has a separate interface, distinct from Claude itself.

“Mistral helps keep work more in context and allows for easier prompts to research to code workflows, while still allowing you to interact in a CLI,” McKeon-White said. 

While enterprises need the connectivity that Mistral is bringing, Medium 3.5 is not necessarily better than other models on the market when it comes to coding or helping enterprises to create and deploy coding agents, McKeon-White continued.

“But you can easily run many more [coding agents] than most other competitors,” he said. He added that with the remote vibe coding agents, enterprise developers can leave them running for an extended period , enabling them to perform more tasks in parallel rather than in sequence. 

Related:Glean’s Model Aims to Redefine Enterprise Search With AI

However, how Mistral plans to keep its system running is still unclear, McKeon-White said.

“My big questions are around long-running memory and model context and how they plan to help their system keep track of what people are doing over multiple sessions,” he said.

New Agentic Mode

Mistral also rolled out a new agentic model, called Work Mode, in Le Chat. Introduced in preview, Work Mode is powered by a new harness and Mistral Medium 3.5. It enables Le Chat to read/write and use multiple tools at once. This means that users can catch up on emails, messages and calendars all in Le Chat through Work Mode. Users can also research topics across the web and then produce a brief or report that can be edited before sending, Mistral said.

While OpenAI provides a similar experience with its Agents SDK and connectors that can be connected to ChatGPT, “Mistral is trying to provide an alternative but something that is more enterprise-grade or enterprise-ready,” Su said.

He added that the AI chatbot has always been a source of mistrust for enterprises. Still, the Mistral approach of using a chat interface people are used to, with an orchestration layer that manages agents, models and routes them to the right task, is a “pretty compelling value proposition,” he continued.

Related:AWS Launches Managed Agents with OpenAI Partnership

“The bundling of the services does broaden their appeal to both the consumer and enterprise markets, which is not necessarily something that their competitors have done,” Su said. He added that the vendor is well known in Europe and U.S., but still relatively unknown in the APAC market.

FCA Signs Off Rules to Bring Tokenized Funds into UK Regime

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FCA Signs Off Rules to Bring Tokenized Funds into UK Regime

The United Kingdom’s financial regulator has signed off on new rules and guidance for tokenized funds, aiming to make it easier for asset managers to use blockchains within the existing fund regime rather than in separate experimental structures.

In a Thursday policy statement, PS26/7, the Financial Conduct Authority (FCA) said tokenization and distributed ledger technology (DLT) could make fund management more efficient and that it wants to “support innovation in the UK asset management sector,” as part of a digital assets roadmap first outlined in a January 2025 letter to the prime minister.

The changes give firms a clearer path to integrate blockchain into regulated fund operations, as policymakers seek to modernize market infrastructure without altering existing investor protection frameworks, and reflect a broader push to bring tokenized finance into the regulatory perimeter rather than allowing it to develop in parallel systems.

Simon Walls, executive director of markets at the FCA, said in the release that tokenization would “play an important role in asset management,” and that the regulator had delivered a practical framework to give firms confidence in how fund tokenization can operate within the FCA’s rules.

How tokenized funds move into the UK rulebook

PS26/7 allows firms to run investor records on DLT using the industry “Blueprint” model, confirming that onchain transaction records can serve as the primary books for unit deals without requiring a full off-chain duplicate, provided “appropriate resiliency plans” are in place.

Related: Coinbase rolls out UK crypto-backed loans as FCA shapes rules

The FCA said the Blueprint has already been used to authorize the first tokenized UK undertakings for collective investment in transferable securities (UCITS), and that authorized funds can maintain their register on public DLT networks if controls meet its standards, including issuing units across multiple blockchains as long as investors’ rights and charges remain consistent.

FCA guidance for fund tokenization. Source: FCA

The main rule change is an optional “Direct‑to‑Fund” (D2F) dealing model, where the fund or its depositary, rather than the manager, is the counterparty to investor trades. Deals go through a single step in which units are issued or canceled directly against cash moving between investors and the fund, a structure the FCA says is intended to make fund operations more efficient and easier to align with onchain settlement.

Looking ahead, the FCA sketches a roadmap that moves from today’s tokenized funds to tokenized assets and, eventually, tokenized cash flows, including models where investors hold tokenized assets in digital wallets and managers use smart contracts to manage them.

The regulator says it remains open to waivers so funds can use digital cash and stablecoins for settlement and certain expenses, and that it will seek further views in 2026 on wider use of DLT in wholesale markets

The policy statement comes after the FCA opened a consultation on guidance for its wider cryptoasset regime earlier this month, covering stablecoin issuance, trading, custody and staking, ahead of a full framework due to take effect in October 2027.

Cointelegraph reached out to the FCA for comment but had not received a response by publication.

Magazine: Singapore isn’t a ‘crypto hub’ — it’s something better: StraitsX CEO

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Meta Leverages Solana Network For Next-Gen Stablecoin Payments – What To Know

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Meta Leverages Solana Network For Next-Gen Stablecoin Payments – What To Know

Trusted Editorial content, reviewed by leading industry experts and seasoned editors. Ad Disclosure

As the blockchain sector evolves, the Solana network is persistently gaining serious attention among large players and institutions as they launch new products on the blockchain. Solana has shifted into the spotlight once again following the recent move by Meta to launch a stablecoin payment solution on the leading network.

Solana Chosen by Meta for Stablecoin Payment

A new era in digital payments may be beginning in the financial landscape as Meta Platforms, an American multinational technology company, investigates providing stablecoin transactions. This move has captured the attention of the cryptocurrency sector as the firm plans to launch the payment solution on the Solana and Polygon blockchains.

Meta leveraging on Solana aligns with the rising demand for seamless cross-border payments and signals a possible shift toward blockchain infrastructure for faster, low-cost settlement solutions. With SOL’s high-speed solution, Meta may provide stablecoin functionality for a sizable user base worldwide.

In this integration, Meta will be offering Circle’s USDC stablecoin on the blockchain to pay eligible creators, bridging traditional platforms with Decentralized Finance (DeFi). To ensure eligibility, creators are expected to enter a compatible crypto wallet address through Facebook, the largest social networking platform, in payout settings.

Once it is completely implemented, the project will be a big step toward incorporating cryptocurrency-based payments into popular digital ecosystems. For now, this system will be limited to creators in Colombia and the Philippines, with broader global expansion scheduled for throughout 2026. 

After being paid, users are advised to convert their earnings into local currency by using a local cryptocurrency exchange, a classic behavior of an off-ramp. According to the report, payouts to creators will be processed via Stripe, a financial services platform that aids payments for all types of businesses. 

Western Union Is Adopting SOL’s Infrastructure

Another similar move was observed with Western Union, which has decided to utilize the Solana network for its USDPT stablecoin launch. This major development could reshape the foundations of global payments due to Western Union’s robust influence in cross-border payments. 

Upon integration, Western Union will be using the USDPT stablecoin via SOL as a means of settlement between the financial behemoth and its agents without involving SWIFT. Such a move indicates how stablecoins’ function is shifting from the cryptocurrency narrative to actual payment infrastructure within the financial sector.

Currently, the USDPT stablecoin is in its final stages and is expected to go live in May, which will foster faster capital processing and reduce friction. Western Union’s decision is mainly triggered by the low fees, speed, and notable processing power of the Solana network compared to traditional rails. 

To further strengthen this move, the company is planning to introduce a “Stable Card” to facilitate consumer payments. “The Stable Card is particularly compelling in inflation-sensitive markets where customers want dollar-denominated value with immediate practical utility,” Western Union’s CEO McGranahan stated.

Solana
BTC trading at $79,140 on the 1D chart | Source: BTCUSDT on Tradingview.com

Featured image from Adobe Stock, chart from Tradingview.com

Editorial Process for bitcoinist is centered on delivering thoroughly researched, accurate, and unbiased content. We uphold strict sourcing standards, and each page undergoes diligent review by our team of top technology experts and seasoned editors. This process ensures the integrity, relevance, and value of our content for our readers.

U.S. senators won’t be weighing in on prediction markets bets after banning themselves

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U.S. senators won’t be weighing in on prediction markets bets after banning themselves

A U.S. Senate that’s struggled to move crypto market structure legislation moved like lightning on Thursday to ban themselves from participating in prediction markets.

Acting on a simple, 14-line resolution pushed by Ohio Republican Senator Bernie Moreno, the Senate agreed unanimously to put a restriction between members and the increasingly popular, controversial betting platforms that have drawn scrutiny over insider-trading activity and fights over who has regulatory jurisdiction.

“United States Senators have no business engaging in speculative activities like prediction markets while collecting a taxpayer-funded paycheck, period,” said Senator Moreno in a Thursday statement. “Serving in Congress should never be about finding new ways to profit; it should be about delivering results for the American people.”

Effective immediately, the change to Senate rules now holds that senators can’t enter “an agreement, contract, or transaction that provides for any purchase, sale, payment, or delivery that is dependent on the occurrence, nonoccurrence, or the extent of the occurrence of a specific event.”

Political betting has surged in popularity, and some candidates for office have already been penalized for wagering on their own races.

One of the leading platforms, Polymarket, posted on social media site X that the company is in “full support” of the Senate’s action. Polymarket, which isn’t supposed to operate in the U.S. after a 2022 agreement with the CFTC, noted that its user rules “already prohibit such conduct, but codifying this into law is a step forward for the industry.”

Betting on Polymarket currently gives Democrats even odds that they’ll reclaim the Senate majority in the November elections. Democrats have generally been more critical and suspicious of the fast-growing industry.

Closing the banking gap in Indonesia: By Ben Goldin

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Closing the banking gap in Indonesia: By Ben Goldin

Indonesia is one of the most compelling growth stories in Asia, with GDP expected to reach
$1.55 trillion in 2026.
It’s also one of the most complex consumer markets, spanning 6,000 inhabited islands, 300 ethnic groups and 700 languages, and has one of the largest unbanked populations in the world, with
only 56% of adults
holding a formal bank account.

 

But change is afoot in the country’s banking sector to address the low percentage of the population holding a bank account. A critical pillar of the
Golden
Indonesia Vision, a blueprint to attain advanced economy status by 2045, is financial inclusion, which aims for 98% inclusion to foster equitable economic growth. This is pushing banks to
build digital experiences for people who have never set foot in a branch.

 

In addition, the regulatory environment has paved the way for digital-only banks, opening up financial services to foster access and competition.
Blueprint 2030
is pushing for deeper integration across banking, fintech and e-commerce, with open banking as the connective tissue. The central bank’s
Project Garuda
is piloting the Digital Rupiah, a programmable central bank digital currency designed to improve cross-border payments and regional interoperability. 

 

The direction in Indonesia’s financial services sector is clear: openness, interoperability and speed. For banks, that is both a regulatory obligation and
a great opportunity. However, the banking infrastructure required to capture this opportunity is lacking. 

 

Incumbent banks must modernise their digital channels quickly to meet changing regulatory requirements, as well as survive increasing competitive pressure
from digital challengers. But they can’t build from scratch quickly enough, and large vendors are either too expensive, too slow, or simply not built for the Indonesian market.

 

This is where decoupled architecture has a decisive advantage. When the customer experience layer operates independently from the core banking system, banks
can move at the speed of the market without waiting for a vendor’s release cycle.

 

Using this approach, Indonesian banks don’t have to choose between moving fast and getting it right. They can go live with a modern customer experience in
three to nine months and modernise the underlying infrastructure progressively, at their own pace, without a big-bang replacement that puts the entire business at risk.

 

But this requires architecture that is truly decoupled, where changes to the front-end experience won’t require changes to the core, and vice versa. 

 

The institutions that succeed in this new environment will be the ones with platforms that can launch a digital experience in months, integrate with alternative
ID and credit data sources, and build lending or payments products designed for customers who have never had a bank account. They will have platforms that embed localisation from the start, not bolted on at the end, and where the customer experience can be
adapted without touching the underlying banking logic.

 

That is the infrastructure that closes the banking gap. 

 

The institutions that get there first will not need the biggest budget. They will need the right platform – one that gives each of them the freedom to build
for their specific context without starting from scratch every time.

Aptos (APT) gains 4.4% as nearly all assets rise

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Aptos (APT) gains 4.4% as nearly all assets rise

CoinDesk Indices presents its daily market update, highlighting the performance of leaders and laggards in the CoinDesk 20 Index.

The CoinDesk 20 is currently trading at 2062.95, up 1.1% (+22.36) since 4 p.m. ET on Wednesday.

Nineteen of 20 assets are trading higher.

Leaders: APT (+4.4%) and ICP (+2.4%).

Laggards: AAVE (-0.2%) and BCH (+0.0%).

The CoinDesk 20 is a broad-based index traded on multiple platforms in several regions globally.

FCA Sets Out Guidance to Support Innovation in Fund Tokenisation

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FCA Sets Out Guidance to Support Innovation in Fund Tokenisation

WHY THIS MATTERS: This new regulatory guidance from the FCA delivers the critical clarity the asset management sector has been demanding to accelerate the adoption of fund tokenisation. The publication officially removes significant ambiguity surrounding the use of Distributed Ledger Technology (DLT) for representing asset ownership within the UK’s existing legal framework. This is a major regulatory pivot that streamlines how the UK’s £16.5 trillion asset base can integrate blockchain-based efficiency. Crucially, the introduction of the optional Direct to Fund (D2F) model—which permits investors to transact directly with a fund—lays the groundwork for massive cost reductions and dramatically improved market access. By building a practical pathway for firms to innovate securely, the regulator is actively supporting the UK’s position as a leading global financial hub for the emerging digital market infrastructure. This is an immediate value signal: the foundational legal barriers for digital funds have just been dismantled.

Asset managers will find it easier to unlock the benefits of fund tokenisation, following the publication of new guidance by the Financial Conduct Authority (FCA). The guidance sets out how firms can use distributed ledger technology (DLT) within the regulator’s existing rules.  

New rules will also make fund dealing more efficient, including an optional Direct to Fund (D2F) model. This enables investors to deal directly with the fund, whether traditional or tokenised.  

Tokenisation is a way of representing an asset, or ownership of an asset, using distributed ledger technology. Tokenisation has the potential to lower costs and open up investment opportunities to a wider audience.  

The FCA has worked closely with industry to develop this guidance and rules to support innovation and improve efficiency for asset managers.  

Simon Walls, executive director of markets at the FCA said: “Tokenisation has the potential to play an important role in asset management, and its adoption will be driven by firms and investors. We have focused on delivering what the market has asked for: a clear, practical framework that provides confidence in how fund tokenisation can operate within our rules, both now and into the future.”  

John Allan, director, innovation and operations unit and director, Engine at the Investment Association, said:  “This milestone represents a meaningful advance in the UK’s approach to innovating funds market infrastructure. Working in collaboration with the investment management industry, the FCA has produced detailed guidance that provides confidence around public‑chain models where the right controls are in place, and the use of digital cash tools for operational needs. Alongside wider work on wholesale digital market infrastructure, this guidance and the increased optionality provided by D2F gives firms a stronger foundation to align innovation ambitions with long‑term operating choices.” 

The UK is a leading asset management hub, with around 2,600 firms managing £16.5 trillion of assets for UK and global clients. Supporting growth and innovation in the sector is a core part of the FCA’s strategy. 

The policy statement also sets out how fund tokenisation could develop over time as part of the FCA’s roadmap for digital assets.  

FF NEWS TAKE: This unequivocally moves the needle for wholesale finance. The FCA’s approach, endorsed by industry bodies, provides the necessary legal confidence for asset managers to migrate legacy processes to DLT, securing the UK’s leadership in funds market innovation. The true test now lies in the practical, operational adoption of the Direct to Fund (D2F) model. We must watch for which major asset houses launch the first publicly accessible tokenised funds and how swiftly they adopt public-chain architecture to maximize efficiency and democratize access.

 

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