Need to know what happened in crypto today? Here is the latest news on daily trends and events impacting Bitcoin price, blockchain, DeFi, NFTs, Web3 and crypto regulation.
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The founder of Telegram believes secure communication devices inspired by crypto hardware wallets could be introduced in the light of increasing government surveillance. Bitcoin miner stocks have tumbled from 2024 highs as investors fear their post-halving profits. Meanwhile, an Avalanche-based home equity line of credit (HELOC) protocol has received $10 million in venture capital financing.
Crypto-like communication devices could break gov’t surveillance — Telegram founder Durov
Pavel Durov, founder of the encrypted instant messaging app Telegram Messenger, predicts that rising government surveillance will force the birth of secure communication devices inspired by cryptocurrency hardware wallets.
In a Tucker Carlson interview on April 17, Durov recalled past experiences while expressing how government entities continue to suppress the private exchange of information:
“The world is becoming less amenable. Governments are becoming less tolerant of privacy. And that’s clearly the trend because they have more technological power.”
However, Durov believes that growing oversight will force innovations around hardware devices dedicated to secure communications “in a similar way that we have hardware wallets to store your cryptocurrency.”
Echoing Durov’s concerns about rising government surveillance, on April 16, American whistleblower Edward Snowden warned that the United States National Security Agency (NSA) is only days away from “taking over the internet” with a massive expansion of its surveillance powers.
Bitcoin miner stocks drop on post-halving profit fears
BTC $62,116 mining shares have fallen from their year-to-date highs as investor confidence in their profitability after the halving wanes — but the fears aren’t well founded, the head analyst at Bitcoin mining firm Blockware Solutions Mitchell
“Investors will realize their fears were mostly unsubstantiated,” he said. He claimed profitability concerns after the April 20 halving and Bitcoin’s 7.5% seven-day price drop are the catalysts behind miners’ stock tumbling.
United States miners Marathon Digital (MARA), Riot Platforms (RIOT) and CleanSpark (CLSK) are 53%, 54% and 38.1% down from their year-to-date peaks, respectively. Singapore’s Bitdeer Technologies has fallen 40.8% (BTDR) and Australia’s Iris Energy (IRIS) has dropped 47.6% since their mid-February 2024 highs.
“[The] halving will be a ‘buy the news’ event for public Bitcoin miners and the private ASIC market,” Askew claimed.
HELOC tokenization launches on Avalanche blockchain
Home equity line of credit (HELOC) tokenization protocol Homium has closed a $10 million funding round led by Sorenson Impact Group and Blizzard.
Homium, which is built on the Avalanche blockchain, allows “homeowners to borrow against their home equity without increasing their monthly debt burden,” the company said in an April 15 announcement.
Homeowners who use Homium essentially pledge a portion of their home’s future value as collateral for loan equity. Meanwhile, investors receive a tokenized asset that tracks the price appreciation of a pool of shared homes on Homium. Initially, home tokenization loans were only available in the U.S. state of Colorado.
Tokenization has been described by Citi as the next “killer use case” for crypto. The investment bank said real-world asset tokenization could reach $5 trillion by 2030.
