MetaMask, in collaboration with CompoSecure, Baanx, and Mastercard, launched the MetaMask Metal Payment Card, a premium, physical crypto debit card enabling tap-to-pay transactions directly from self-custody MetaMask wallets. Announced on April 28, 2025, the card eliminates the need for preloading funds or converting crypto to fiat before spending, with transactions authorized via smart contracts in under five seconds on the Linea network, an Ethereum-based zkEVM blockchain.
Supported tokens include USDC, aUSDC, USDT, WETH, EURe, and GBPe. The card is set for a global rollout in Q2 2025, with early access available in Argentina, Brazil, Colombia, the EEA, Mexico, Switzerland, the UK, and the US (excluding New York and Vermont). A limited-edition Metal Card offers premium rewards and exclusive perks. This partnership aims to bridge Web2 and Web3, making crypto spending seamless and secure.
Ledger Live now enables users to earn stablecoin yields directly from self-custody through a new integration with Kiln, announced on April 28, 2025. This feature allows users to generate passive income on stablecoins like USDC, USDT, USDS, and DAI with yields ranging from 5% to 9.9% APY, depending on the protocol used e.g., Aave, Compound, Morpho, Sky, Spark. The key advantage is that users maintain full control of their private keys, ensuring self-custody without transferring assets to centralized platforms.
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This is facilitated through Ledger Live’s interface, where Kiln provides backend access to DeFi lending protocols, simplifying the process while prioritizing security. Only 4% of stablecoin holders currently earn yield, so this integration aims to make DeFi more accessible and secure for Ledger users.
On April 28, 2025, a suspected theft of 3,520 Bitcoin (BTC), valued at approximately $330.7 million, led to a 50% surge in Monero (XMR) prices, with the privacy coin reaching an intraday high of $339-$391, according to various sources. Blockchain investigator ZachXBT flagged the suspicious transfer from a potential victim’s wallet (address: bc1qcrypchnrdx87jnal5e5m849fw460t4gk7vz55g), noting that the stolen BTC was rapidly laundered through over six instant exchanges and converted into XMR to obscure the trail.
The large-scale conversion caused a supply-demand shock in Monero’s market, given its lower liquidity compared to Bitcoin, driving the price spike. Trading volume surged by up to 500%, with open interest in XMR futures hitting a yearly high and over $1 million in short positions liquidated. However, XMR later retraced, trading between $263-$295 by the end of the day, still up 15-25% over 24 hours. ZachXBT dismissed speculation that North Korea’s Lazarus Group was involved, suggesting independent hackers targeted a longtime Bitcoin holder, likely an “OG Bitcoiner.”
FTX has initiated legal action against certain token and coin issuers, including NFT Stars Limited and KUROSEMI INC. (operating as Delysium), for failing to deliver contractually obligated tokens and refusing to cooperate in returning assets owed to the FTX estate. These lawsuits, announced on April 29, 2025, are part of FTX’s efforts to recover assets to repay customers affected by the exchange’s collapse in November 2022.
The complaints follow multiple unsuccessful attempts to resolve the issue without litigation, and FTX has warned that additional lawsuits will be filed against other non-responsive token issuers. The FTX Recovery Trust is actively pursuing these actions to maximize asset recovery for creditors and customers.
MoonPay, a leading crypto payments company, has relocated its U.S. headquarters to New York City, opening a 5,000+ square-foot office in Manhattan’s SoHo neighborhood. Announced on April 29, 2025, this move marks MoonPay’s largest U.S. office to date and serves as a hub for its growing U.S. workforce, which comprises nearly 20% of its global employees.
The relocation from Miami aligns with New York’s status as a finance and tech hub, joining other crypto firms like Coinbase and Gemini. MoonPay’s expansion follows a strong financial performance, with Q1 2025 being its most successful quarter, driven by a booming crypto market. The move also reflects strategic positioning amid increasing U.S. regulatory clarity for cryptocurrencies.
Circle, the issuer of the USDC stablecoin, has received in-principle approval (IPA) from the Financial Services Regulatory Authority (FSRA) of Abu Dhabi Global Market (ADGM) to operate as a money services provider in the UAE, announced on April 29, 2025. This is not a full license but a significant step toward obtaining a Financial Services Permission (FSP), allowing Circle to offer regulated financial services in the region. The approval follows Circle’s incorporation of a legal entity in ADGM in December 2024, aiming to expand its presence in the Middle East and Africa.
USDC, with a circulating supply of $62 billion (up 40% in 2025), is the second-largest stablecoin, backed by US dollar reserves. Circle’s CEO, Jeremy Allaire, stated that the approval aligns with the UAE’s push for innovation in digital finance and strengthens Circle’s commitment to global stablecoin oversight, trust, and compliance. Circle also partnered with Hub71, Abu Dhabi’s tech ecosystem, to foster fintech innovation through ADGM’s digital regulatory sandbox, providing startups with resources and mentorship.
Tether has confirmed that its Tether Gold (XAUT) token is backed by 7.7 tons (246,523.33 troy ounces) of physical gold, as detailed in its first Q1 2025 attestation report. Each XAUT token is pegged 1:1 to one troy ounce of London Bullion Market Association (LBMA)-certified gold, securely stored in Swiss vaults. The acquisition supports XAUT’s market capitalization, which reached $770 million by March 31, 2025, and peaked at $853.7 million recently, driven by rising global demand for safe-haven assets amid economic uncertainty, inflation concerns, and geopolitical tensions.
Tether’s CEO, Paolo Ardoino, emphasized XAUT’s role as a digital, transferable form of physical gold, combining blockchain efficiency with gold’s stability. The attestation, conducted under El Salvador’s regulatory framework, aims to ensure transparency, though critics have raised concerns about Tether’s auditing practices, noting that the BDO Italia report lacks full compliance with international financial reporting standards.
U.S. Securities and Exchange Commission (SEC) has approved ProShares Trust to launch three XRP futures-based exchange-traded funds (ETFs) on April 30, 2025. These ETFs include the Ultra XRP ETF (2x leverage), the Short XRP ETF (-1x leverage), and the Ultra Short XRP ETF (-2x leverage). Unlike spot ETFs, these funds track XRP’s price movements through futures contracts, not direct ownership of the cryptocurrency.
They will be the second, third, and fourth XRP-tracking ETFs in the U.S., following Teucrium’s 2x Long Daily XRP ETF launched earlier in April 2025. ProShares’ separate application for a spot XRP ETF remains pending, alongside similar proposals from Grayscale, 21Shares, and Bitwise.