The Cardano Foundation has rolled out Veridian, a new open-source platform aimed at helping people and businesses manage their digital identities, according to a Friday release.

Alongside it comes the Veridian Wallet, a tool designed to keep personal info secure and let users prove who they are online without the usual hassles of sharing sensitive data.

This launch comes at a time when proving one’s identity online is more important and riskier than ever. Whether it’s for healthcare, banking, shipping, or school records, current systems often leave data exposed, and with smart devices and AI popping up everywhere, those flaws are getting tougher to fix, the Foundation said.

“From healthcare and financial services to supply chains and academics, identity verification serves as the cornerstone of trust,” Thomas A. Mayfield, head of Decentralized Trust and Identity Solutions at Cardano Foundation, wrote in the release. “Despite this, existing solutions often fail to provide adequate security and credential control, resulting in frequent data breaches. Last year alone, 1.7 billion records were compromised in the United States.”

Veridian tackles this by letting users take control instead of handing their information to a central authority. It uses open, shared tools to ensure legitimate communication and check identities without a go-between.

There’s even an option to link it to the Cardano blockchain for added assurance. The Veridian Wallet ties it all together, letting people manage their details safely from their phones.

The wallet application is built for individuals and businesses alike, with options for companies to tweak it for their needs.

Read more: Cardano: Deep Dive on the Trump Reserve Token Whose Blockchain Ignores TVL

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Shaurya Malwa

Shaurya is the Co-Leader of the CoinDesk tokens and data team in Asia with a focus on crypto derivatives, DeFi, market microstructure, and protocol analysis. Shaurya holds over $1,000 in BTC, ETH, SOL, AVAX, SUSHI, CRV, NEAR, YFI, YFII, SHIB, DOGE, USDT, USDC, BNB, MANA, MLN, LINK, XMR, ALGO, VET, CAKE, AAVE, COMP, ROOK, TRX, SNX, RUNE, FTM, ZIL, KSM, ENJ, CKB, JOE, GHST, PERP, BTRFLY, OHM, BANANA, ROME, BURGER, SPIRIT, and ORCA. He provides over $1,000 to liquidity pools on Compound, Curve, SushiSwap, PancakeSwap, BurgerSwap, Orca, AnySwap, SpiritSwap, Rook Protocol, Yearn Finance, Synthetix, Harvest, Redacted Cartel, OlympusDAO, Rome, Trader Joe, and SUN.

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Crypto markets saw high volatility on Wednesday and Thursday in the run-up to the tariff announcement, where President Donald Trump levied a minimum 10% fee on all imports to the country.

Major tokens bitcoin (BTC), ether (ETH), Solana’s SOL, XRP (XRP), and others, zoomed ahead of the speech and slumped as global markets fell, reversing all gains from the start of the week.

Markets have since shown an uptick in prices on Friday morning, with BTC steady above $83,100, ETH retaking $1,800 and XRP, SOL and ADA rising over 2%.

(CoinDesk Indices)

Ahead of Trump’s speech, investors transferred larger volumes of Bitcoin, ETH, and XRP into exchanges, suggesting a growing intent to sell, per a CryptoQuant note shared with CoinDesk on Thursday. Bitcoin transactions surged to as much as 2,500 BTC in a single block just hours after Trump began speaking.

In the U.S., Coinbase also saw a rise in bitcoin deposits, particularly from large holders.

Similarly, ETH inflows into exchanges spiked to an hourly peak of approximately 80,000 ETH. XRP transfers into Binance jumped to 130 million in one hour, up from under 10 million XRP per hour throughout most of the previous day.

These rising exchange inflows reflected investor willingness to exit positions amid growing economic uncertainty, CryptoQuant said, with demand for Bitcoin and ETH declining in the perpetual futures market as traders closed their long positions to take profits.

But with headwinds behind and a new economic data set to be released later Friday could provide the impetus for a short-term relief in markets.

Attention is on the non-farm payroll report scheduled for a Friday release. The monthly U.S. economic indicator released by the Bureau of Labor Statistics shows the change in employment, reflecting job creation, unemployment trends, and wage growth, offering insight into economic health.

“Investors are bracing for signs of softness in the U.S. labour market,” Singapore-based QCP Capital said in a Telegram broadcast earlier Friday. “ A weaker-than-expected print would bolster the case for further Fed rate cuts this year, as policymakers attempt to cushion a decelerating economy.”

Data shows markets are pricing in four rate cuts in 2025 — 0.25 bps each in June, July, September and December. Rate cuts occur when a central bank, like the Federal Reserve, lowers interest rates to stimulate economic growth by making borrowing cheaper.

Bitcoin, and the broader market, tend to react positively to rate cuts, as lower rates reduce the appeal of traditional investments like bonds, driving investors toward alternatives like BTC. Additionally, a weaker dollar can enhance BTC’s value as a hedge against inflation or currency devaluation.

QCP Capital said it continues to observe elevated volatility in the short term, with more buyers of downside protection.

“That said, with positioning now light and risk assets largely oversold, the stage may be set for a near-term bounce,” the fund said.

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The kickstart of heavy tariffs under the Trump administration has ushered in a new chapter of uncertainty and opportunity for the crypto market, one that tends to ebb and flow with changes in the global economy.

Tariffs, by design, increase the cost of imported goods, often leading to higher inflation, shifts in supply chains, and fluctuations in currency valuations. A stronger U.S. dollar, driven by tariff-induced trade imbalances, might initially pressure crypto prices downward as investors flock to traditional safe havens.

However, prolonged economic uncertainty could fuel bitcoin’s appeal as a store of value, especially if central banks respond with loose monetary policies.

Here’s how crypto traders and market watchers are approaching the coming months — largely expecting muted price action in the near term but bullish in the medium to long term.

Rick Maeda, Research Analyst at Presto Research

Trump’s tariffs, jumping to 34% on China and 25% on cars from the 10% baseline levy, unnerved global markets and crypto was no exception.

Bitcoin sold-off into the $82k level while Ethereum got hit harder, dipping below 1,800.

Options flow-wise, there was put buying across tenors as traders hedged against further downside, but implied volatility term structures held relatively steady.

Crypto continues to be haunted by Trump’s trade policies as it faced a similar shock earlier this year when tariffs on Mexico and Canada – 25% each – were floated. Lacking a strong intrinsic narrative, the asset class remains firmly tethered to macro forces, with its macro beta keeping it closely bound to trade war developments. Structurally, a prolonged trade war could continue to batter crypto as it continues to identify as a risk asset rather than the digital gold it once was.

Enmanuel Cardozo, Market Analyst at Brickken

“Trump’s tariffs that rolled out yesterday on April 2, 2025, for a long list of countries, are stirring up the crypto industry in a big way. We saw how bitcoin was at $88,500 flirting with the $90K level but in a span of 4hrs dropped down to around $82,000.

In the short term, these tariffs are fueling a lot of volatility in what seems to me a sideways consolidation zone—, as economic uncertainty drives retail investors toward safer bets like gold or traditional investment vehicles while institutional investors continue to accumulate Bitcoin.

Add to that the broader risk-off sentiment—JPMorgan’s survey shows 51% of institutional traders see inflation and tariffs as the top market shapers this year. But looking past the immediate turbulence, there’s a potential upside for crypto in the long run.

These tariffs could weaken the dollar’s dominance by making imports pricier, which might position bitcoin as a go-to hedge against inflation.

As global trade gets more murky, crypto’s utility for cross-border transactions could potentially gain more appeal, especially with stablecoins stepping up as a workaround for tariff barriers as we’re already seeing hints of this with government-backed stablecoin adoption.

Trump’s tactic—where tariffs might act by weakening the dollar—adds another layer. If the easing effect wins, bitcoin could benefit long-term. Either way, I’ll be watching how these tariffs interact with Fed policy and market sentiment to see how crypto adapts to this scenario.”

Alvin Kan, COO at Bitget Wallet

“Trump’s proposed tariffs risk triggering stagflation—rising prices without growth—which could undermine confidence in fiat, especially the U.S. dollar. As capital seeks protection from inflation and trade war uncertainty, bitcoin stands out as a neutral, decentralized hedge. If dollar dominance erodes and volatility spikes, BTC demand could rise fast.

In a fragmented, protectionist world, bitcoin becomes less about speculation and more about preservation, and smart traders are already positioning accordingly.”

Augustine Fan, Head of Insights, SignalPlus

“Trade partners promised retaliation, while cross assets saw a massive risk-off move, leading to a similar drop in BTC to recent lows. Compared to the move in US equities, which breached recent lows, crypto prices outperformed relatively, with BTC holding above the $80k level as the weaker dollar and stronger gold move is providing markets with a convenient excuse to give bitcoin a little bit of a flight to quality bid.

A bold statement from Secretary Bessent blaming the sell-off as a “Mag-7 problem” compounded the negative sentiment.

Risk off will likely be the consensus move here, as it’s hard to imagine Trump pulling a quick 180-degree move after such an aggressive show of force, with US assets likely underperforming with economic growth to show tangible weakness in the near future.

We like buying BTC on aggressive dips towards the 76-77k area.”

Ryan Lee, Chief Analyst at Bitget Research

“Trump’s unexpectedly harsh tariffs, including 10-49% tariffs on imports, may have sparked a panic-driven sell-off in the wider market, with ETH and SOL dropping ~6%, and the market shifting to stablecoins as fear spiked.

Beyond the initial shock, these tariffs threaten the U.S. economy, which could ripple into crypto markets. Higher import costs—particularly from key partners like China —could accelerate inflation, with some models projecting a 2-3% CPI uptick by Q2 2025 if trade wars escalate.

Concurrently, the Atlanta Fed’s GDPNow estimate of a 2.8% GDP decline for Q1 2025 may worsen as consumer spending and business investment falter under tariff pressures.

A weakening dollar from economic strain and potential Fed easing could boost BTC as a hedge, with data showing early accumulation trends. However, altcoins may need stronger fundamentals to benefit in the long term.”

Read more: Why Trump’s Tariffs Could Actually be Good for Bitcoin

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Over $100 million in Ripple USD (RLUSD) has been issued since April 1, among the highest levels in recent months, as demand for the relatively new stablecoin heats up.

A $50 million tranche of RLUSD was issued earlier this week on Tuesday, with another $50 million late Wednesday. That came as Ripple added the stablecoin to its official payments product, with payment providers BKK Forex and iSend already said to be using the stablecoin.

Industry leaders expect RLUSD to further shift crypto market dynamics, where upstarts tether (USDT) and USD Coin (USDC) could see competition from Ripple’s product.

XRP Ledger-based decentralized financial (DeFi) applications could be a cohort to watch for as RLUSD gains traction on various platforms, boosting XRP token demand.

RLUSD is a stablecoin pegged 1:1 to the U.S. dollar, offered on the XRP Ledger and Ethereum blockchain. It is fully backed by U.S. dollar deposits, short-term U.S. Treasuries, and cash equivalents.

To maintain its peg, RLUSD relies on a 1:1 reserve system—each token matches an equivalent fiat value.

Users can mint RLUSD by depositing dollars with authorized partners, who issue tokens, or burn RLUSD to redeem cash. Market arbitrage helps stabilize its price: if RLUSD trades below $1, traders buy it to redeem at par, raising demand; if above $1, they mint more, increasing supply.

Security features make RLUSD appealing to institutional users. An XRP Ledger amendment in January saw a “clawback” feature go live on the network, allowing the issuer to reclaim or “claw back” certain tokens, such as RLUSD, from users’ wallets under specific conditions.

This feature is typically implemented for regulatory compliance, to recover assets in cases of fraud, illegal activities, or when tokens are sent to unintended addresses.

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Higher-than-usual market volatility affected bulls and bears alike as crypto futures racked up $450 million in liquidations in the past 24 hours as U.S. tariffs went into play.

President Donald Trump officially levied a 25% tariff on auto imports and a minimum 10% tariff on all exporters to the U.S. Additional duties were imposed on the nation’s biggest trading partners in Asia and the European Union, with China facing a 50% hike on several goods and a 26% fee on some Indian goods.

Turmoil in markets ensued with gains from the past three days wiped out in U.S. indices and cryptocurrencies. Asian markets tumbled early Thursday and U.S. 10-year Treasury yields slumped to the lowest level in more than five months. Gold set yet another record high.

Bitcoin inched above $87,000 as investors hoped for leaner long-term effects of the economic changes, with signs of a risk-on environment emerging at the start of the week. Majors ether (ETH) and xrp (XRP) traded above $1,900 and $2.15, respectively, with technical analysis suggesting higher moves in the near term.

But the euphoria was short-lived as crypto majors dipped as much as 5% from Wednesday’s highs before gradually stabilizing.

In Asian morning hours on Thursday, bitcoin traded just above $83,500 while ether traded slightly over $1,800 — effectively reversing all gains from Tuesday after a sudden drop following the Tokyo open.

That caused over $230 million in liquidations on both bullish and bearish bets, data shows, in an unusual move. BTC-tracked futures registered over $172 million in long and short liquidations alone, followed by ETH futures at $120 million and smaller altcoins at $50 million.

Liquidation refers to when an exchange forcefully closes a trader’s leveraged position due to a partial or total loss of the trader’s initial margin. It happens when a trader is unable to meet the margin requirements for a leveraged position (fails to have sufficient funds to keep the trade open).

Single-sided large liquidations can signal the local top or bottom of a steep price move, which may allow traders to position themselves accordingly. However, Thursday’s liquidations can be considered a sign of market uncertainty.

The post Wobble in Bitcoin, Ether, XRP Prices Cause Crypto Bulls and Bears to See $450M Liquidations Each appeared first on Crypto Spyder.

North Korean “IT workers” are increasing illicit cyber activity across Europe with an eye on blockchain projects, Google Cloud warned in a Wednesday report.

Projects built on the popular Solana network, including applications and job boards, are getting hit by the rising attacks. Democratic People’s Republic of Korea (DPRK) operatives pose as legit remote workers to infiltrate companies, take over critical systems and steal sensitive data which is likely sold to “generate revenue for the regime.”

The increased threat in Europe is a shift from a U.S.-heavy focus as DPRK-linked entities faced heat from DOJ indictments and tighter hiring scrutiny stateside.

The report reveals that one such worker juggled 12 fake personas across the U.S. and Europe and sought employment by fabricating references, building a rapport with job recruiters, and using additional personas they controlled to vouch for their credibility.

It’s not like the workers lack coding chops either: Workers were found taking projects ranging from token hosting platform using Next.js, React and CosmosSDK, and Golang, and even created an entire Solana-based job marketplace.

More blockchain-related projects involved Anchor and Rust smart contract development. One worker even developed an artificial intelligence (AI) web application using Electron, Next.js, and blockchain applications.

A key culprit may be workplaces that let employees use their own devices.

“(Google Cloud) believes that IT workers have identified BYOD environments as potentially ripe for their schemes, and in January 2025, IT workers are now conducting operations against their employers in these scenarios,” the report said.

“Global expansion, extortion tactics, and the use of virtualized infrastructure all highlight the adaptable strategies employed by DPRK IT workers.”

DPRK entities and hacking groups are one of the biggest threat actors in the crypto ecosystem, stealing an estimated $1.3 billion from projects in 2024 and conducting a $1.5 billion hack on crypto exchange Bybit in February alone.

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XRP, the token closely related to Ripple Labs, is showing signs of a potential breakout as its price chart forms a symmetrical triangle pattern alongside other bullish technical indicators.

XRP has been consolidating within the pattern shown below, characterized by two converging trend lines that suggest a buildup of momentum. Technical analysis from well-followed X user @DefendDark indicates that a breakout from this formation could propel XRP toward a short-term target of $6.

The symmetrical triangle has been forming over recent weeks, with XRP’s price action tightening as it approaches the apex of the triangle. This setup, commonly observed in crypto markets, often precedes a sharp move — either upward or downward — depending on the direction of the breakout.

Fibonacci retracement analysis further supports this outlook, identifying $2.04 as a key support level and $2.2 as a critical resistance. A break above $2.2 could confirm the bullish trend, potentially driving XRP toward the $5 to $8 range in the mid term, per @DarkDefend.

The Elliott Wave framework forecasts price movements in five distinct “waves” based on repeating price patterns, called “waves.” The five-wave pattern reflects growing optimism, while the three-wave correction shows profit-taking or pessimism. These waves are driven by collective investor psychology and can occur across different timeframes and are considered by followers to be a way to map market behavior.

As such, a bullish technical outlook coincides with growing optimism in the crypto market, driven in part by regulatory developments. The U.S. House will hold a crypto hearing on April 9, termed “The Future of American Innovation and Digital Assets: Adjusting U.S. Securities Law for the Digital Age,” with plans to develop a regulatory framework for digital assets.

That could boost eyes on tokens perceived to be close to the U.S. government, such as XRP and Cardano’s ADA, which were named as part of potential crypto stockpile by President Donald Trump earlier in January.

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