Morgan Stanley's CFO said tokenization will be the next major step for the firm's multitrillion-dollar wealth management business, as the bank continues to deepen its push into digital assets, according to reporting by @helenebraunn.

Bitwise on April 16 launched its Spot Avalanche ETF, trading under the ticker BAVA, according to BlockBeats. The fund is designed to hold AVAX tokens directly and plans to stake its AVAX holdings, aiming to distribute average staking rewards of about 5.4% while maintaining liquidity. The spot AVAX ETF posted roughly $400,000 in trading volume during its first 90 minutes on the market. Bloomberg ETF analyst James Seyffart described the early activity as "quite good."

Bitwise has launched its spot Avalanche ETF, trading under the ticker BAVA, according to ChainCatcher. The fund holds AVAX directly and plans to stake its AVAX holdings, aiming to distribute about 5.4% in average staking rewards while preserving liquidity. BAVA recorded $400,000 in trading volume within the first 90 minutes of trading. Bloomberg ETF analyst James Seyffart described the early activity as \u0022quite good.\u0022

World Liberty Financial (WLFI), a crypto project linked to US President Donald Trump and his family, said it has submitted a governance proposal to revamp its locked-token structure and reduce supply through token burns. The proposal addresses roughly 62.28 billion WLFI, including a plan to progressively release about 62.2 billion tokens that were previously locked indefinitely. It also calls for burning up to 4.5 billion WLFI from the locked supply. Under the plan, advisors, institutions, partners, founders and team members hold 45.2 billion locked WLFI. Those tokens would move to a "2-year lockup + 3-year vesting" schedule. Participants must burn 10% of their tokens when opting in, with the total permanent burn capped at about 4.5 billion WLFI. The remaining roughly 40.7 billion would vest over three years after the two-year lockup. Early investors holding 17 billion WLFI would be placed on a "2-year lockup + 2-year vesting" schedule with no burn requirement. Tokens held by investors who decline the new terms would stay locked indefinitely. WLFI said that, if approved, 62.2 billion WLFI would take part in governance for at least two years, calling the initiative a major signal of long-term governance alignment in DeFi. The proposal has been posted to the project forum for community discussion. *This is not investment advice.

On April 15, World Liberty Financial (WLFI), the Trump-family-associated crypto project that has recently drawn heavy public scrutiny, posted a governance proposal outlining how locked allocations for "early supporters, founders, team members, and partners" would be released. The plan immediately reignited debate around WLFI. WLFI supply and prior sales WLFI has a fixed total supply of 100 billion tokens and previously ran two public presales. The first began in October 2024 at $0.015 per token, offering 20 billion WLFI (20% of supply). Demand was initially muted amid market FUD, but momentum improved after the launch of Trump's token. The tranche ultimately sold out on Jan. 20, 2025, raising $300 million. WLFI then opened a second public presale priced at $0.05 per token, with 5 billion tokens (5% of supply). That round sold out on March 14, 2025, raising $250 million. Separately, WLFI's tokenomics indicate 8.893 billion WLFI (8.893% of supply) were sold to strategic and institutional participants at $0.10 per token. In total, WLFI presold 33.893 billion tokens, equal to 33.893% of total supply. Launch and initial unlock WLFI officially launched on Sept. 1, 2025. At launch, presale users received an initial unlock: participants who joined both public presale rounds could unlock 20% after signing the token unlock agreement and completing activation, while the remaining 80% would be subject to future governance decisions. Institutional allocations remained locked. After launch, WLFI was widely promoted and its onchain price briefly topped $0.45, while some smaller exchanges saw short-lived spikes above $1. Over subsequent months, the token trended down from above $0.20 and is trading around $0.08 at the time of writing. For first-round buyers at $0.015, even with only 20% unlocked, many could have recouped principal or posted gains if they sold during the past few months. For second-round buyers at $0.05, most are still below cost unless they sold into the early listing surge. As prices softened, presale participants became increasingly focused on when the remaining 80% might be released. Proposal: 4-year unlock for presale users, 5-year schedule for insiders Under the newly posted forum proposal, WLFI sets out a long-dated vesting framework for remaining locked tokens held by early supporters (presale users), founders, team members, advisors, and partners. For presale users, the proposal cites 17,043,666,558 WLFI currently involved (noting the figure may change because some users have not claimed tokens). All locked tokens would be subject to a two-year cliff (lockup), followed by a two-year linear vesting period, taking four years in total to fully unlock. For founders, team members, advisors, and partners, the proposal covers 45,238,585,647 WLFI. It calls for 10% of the locked amount—4,523,858,565 WLFI—to be permanently burned and removed from total supply. The remaining 90%, or 40,714,727,082 WLFI, would face a two-year lockup followed by three years of linear vesting, implying a five-year path to full unlock. The proposal also states that if it passes, tokens held by participants who do not explicitly accept the allocation plan would remain locked indefinitely. The post further drew criticism over alleged comment moderation on WLFI's governance forum, where many replies appeared highly repetitive and potentially bot-generated. Why propose a burn? Market observers have also debated why the WLFI team would burn 10% of insider allocations. One interpretation is that the team is demonstrating commitment and making a real sacrifice. Another view is that the burn is largely symbolic, aimed at easing community pushback, especially given that tokens subject to multi-year lockups may have uncertain near-term value. Some critics argue the broader goal is to keep as much supply locked as possible because the current distribution structure best serves the team's interests, including through allocations that may not be obvious from public labels. The author characterizes this as personal speculation.

Bitmine Immersion Technologies reported a steep quarterly loss as a pullback in ethereum prices led to sizable unrealized declines on its crypto treasury, even as staking income climbed sharply. In its latest filing, the company recorded a net loss of $3.82 billion for the three months ended Feb. 28. A year earlier, the same period showed a loss of $1.15 million. For the six-month period, losses topped $9 billion. Most of the quarterly loss was tied to unrealized marks on digital assets, totaling $3.78 billion. The figure reflects market price movements rather than sales, highlighting the earnings volatility that comes with holding large crypto positions. Bitmine has continued to build its ethereum treasury despite recent weakness. As of April 12, it held about 4.87 million ETH, valued at roughly $10.7 billion—just over 4% of total ether supply—placing it among the largest corporate holders. The company's stated goal is to reach 5% of ethereum's total supply. It said its ETH was acquired at an average price of $2,206 per token, leaving results highly sensitive to price swings. Operating metrics improved. Quarterly revenue rose to $11.04 million from $1.5 million a year earlier, primarily on staking. Staking rewards contributed about $10 million, as Bitmine put a large share of its holdings to work. The company said it has staked around 3.33 million ETH, about 68% of reserves. Based on recent yields, Bitmine projects annualized staking revenue of roughly $212 million. Beyond ethereum, Bitmine reported $719 million in cash and smaller positions including 198 BTC. It also disclosed equity investments, including $200 million in Beast Industries and an $85 million stake in Nasdaq-listed Eightco Holdings. The update follows Bitmine's move to upgrade its listing to the New York Stock Exchange, aimed at boosting visibility and drawing institutional interest. The strategy mirrors a broader push among crypto treasury firms to gain leveraged exposure to digital assets—an approach that can magnify gains in rallies but produces significant paper losses when markets fall.

Bitwise has launched an Avalanche ETF and said it plans to stake the AVAX held by the fund.

A mystery whale wallet withdrew an additional 30 million $币安人生 (about $11.41 million) from Binance about an hour ago. The wallet now holds 168.26 million $币安人生, valued at roughly $52.26 million, representing 16.83% of the token's total supply.