Crypto Morning Brief: Fed Nominee Walsh Discloses Multiple Crypto Investments; Kraken Secretly Files for U.S. IPO
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Crypto Morning Brief: Fed Nominee Walsh Discloses Multiple Crypto Investments; Kraken Secretly Files for U.S. IPO
Believe founder faces charges in a New York court for allegedly participating in a crypto rug pull scam.
Navigating Web3 tides with focused insightsAuthor: TechFlow
Yesterday’s Market Highlights
Federal Reserve Chair Nominee Warsh’s Financial Disclosure Reveals Multiple Investments in Crypto Infrastructure, Including Compound and Solana
Crypto journalist Eleanor Terrett reported that Federal Reserve Chair nominee Kevin Warsh’s financial disclosure shows he holds early-stage investments via employment-related investment vehicles. These investments span a broad range of sectors, including several crypto infrastructure projects—namely Compound (a decentralized lending protocol), Optimism and Blast (Ethereum Layer-2 networks), and Solana—as well as trading infrastructure, crypto investment firms, and platforms in artificial intelligence and biotechnology. The holdings appear small in size, illiquid, and have generated no reportable income, suggesting an indirect, venture-capital-style exposure rather than direct, tradable liquid assets.
Federal Reserve Nominee Warsh Discloses Holdings in Crypto Assets and Polymarket
According to Reuters, Kevin Warsh, nominee for Federal Reserve Chair, disclosed in his latest financial filing that his personal assets exceed $100 million. This includes two separate holdings in Juggernaut Fund LP, each valued at over $50 million, as well as smaller early-stage investments in multiple emerging technology and financial companies made through an entity named DCM Investments 10 LLC.
Goldman Sachs Files Application to Launch Bitcoin Premium Yield ETF
Market sources indicate that Goldman Sachs has filed an application to launch a “Bitcoin Premium Yield ETF.”
The fund aims to generate current income while retaining upside potential from Bitcoin price appreciation. According to the filing, the ETF may employ options strategies—such as selling call options—to enhance yield, adopting a “yield-enhancing” product structure akin to traditional covered call strategies.
CoWSwap Frontend Restored; Official Reminder to Verify Authorized Contract Address
Felix Leupold, CoWSwap’s Technical Lead, announced on X that the CoWSwap frontend has been restored and is now accessible at swap.cow.finance. The official team reminds users to authorize only the address 0xc92e8bdf79f0507f65a392b0ab4667716bfe0110—the original GPv2VaultRelayer contract.
Earlier reports indicated that Blockaid’s system detected an attack on the decentralized exchange CowSwap’s frontend; CoW Swap subsequently issued a notice stating its frontend had malfunctioned and advised users not to transact on the platform temporarily.
Believe Founder Faces Charges in New York Court Over Alleged Crypto Rug Pull Scheme
According to SolanaFloor citing the Australian Financial Review, Pasternak, founder of Solana-based application Believe, faces criminal charges in a New York court for allegedly participating in a crypto rug pull scheme. The incident involves the Solana blockchain ecosystem and is suspected to be linked to multi-million-dollar losses. As head of the Believe project, Pasternak is accused of orchestrating fraudulent activities that caused significant financial harm to investors. The case is currently under adjudication, with full details not yet publicly disclosed.
Ethereum Foundation Launches Security Audit Subsidy Program
The Ethereum Foundation has partnered with Nethermind (an Ethereum infrastructure developer), Chainlink Labs (an on-chain data services provider), Areta.io (a smart contract auditing firm), and several top-tier audit firms to launch the Trillion Dollar Security Initiative and its Ethereum Security Subsidy Program. This initiative provides up to $1 million in subsidies for security audits targeting Ethereum developers. Its goal is to reduce audit costs, improve developer access to auditing services, and further strengthen the security of the Ethereum ecosystem. Audit applications will undergo joint review by the participating organizations and support both CROPS (Chain Resource Optimization Projects) and novel use-case projects. While security audits are considered industry best practice, their high cost has limited adoption; this program seeks to encourage broader uptake.
Binance to Add Observation Tags to FARM, HIGH, and Other Tokens; Remove Seed Tag from XAUT
Per an official announcement, following recent reviews, Binance will add observation tags to additional tokens and remove seed tags from corresponding tokens effective April 14, 2026. Tokens added to the observation list include: Harvest Finance (FARM), Highstreet (HIGH), Enzyme (MLN), Resolv (RESOLV), Syscoin (SYS), TrueFi (TRU), and Velodrome Finance (VELODROME). The token removed from the seed list is Tether Gold (XAUT).
Visa, Stripe, and Zodia Custody Join Tempo Payment Blockchain as Early Validators
According to The Block, Visa, Stripe, and Zodia Custody—a digital asset custody firm backed by Standard Chartered Bank—have become the first validators on the Tempo payment blockchain.
Tempo is an Ethereum-compatible Layer-1 blockchain purpose-built for high-throughput payments and stablecoin settlement, primarily targeting large institutions. Validators are responsible for verifying, ordering, and finalizing on-chain transactions, and are typically mature entities with global operational capabilities. Tempo was incubated by Stripe and Paradigm, launched its private testnet in September 2025, and closed a $500 million Series A round in October 2025 at a $5 billion valuation. Recently, Tempo introduced its “Agent Payments” protocol—powered by AI agents—and attracted infrastructure integrations from firms such as RedStone.
Ether.fi Commits $3 Billion in ETH as Validator Liquidity to ETHGas Over Three Years
According to The Block, Ether.fi—an Ethereum liquid restaking protocol—announced it will supply a total of $3 billion worth of ETH as “validator liquidity” to the ETHGas market over the next three years. The funds will be drawn from its managed pool of 2.8 million staked ETH. ETHGas is an Ethereum blockspace futures market enabling users to pre-purchase blockspace for guaranteed transaction execution. This initiative aims to boost validator returns by monetizing blockspace commitments, helping validators capture more Maximum Extractable Value (MEV) and achieve higher, more predictable yields. ETHGas has secured institutional backing—including from Polychain Capital—and launched its governance token GWEI, which currently holds a market cap of approximately $120 million. Ether.fi’s native token ETHFI has a market cap of roughly $332 million. This move is expected to deliver more predictable transaction costs and execution times for developers and enterprises, accelerating Ethereum’s evolution into a global institutional settlement layer.
Crypto.com Partners with High Roller Technologies to Enter Prediction Markets
According to Cointelegraph, Crypto.com has entered into a definitive agreement with online casino operator High Roller Technologies to officially enter the prediction markets space. Through this partnership, Crypto.com will offer event-based prediction market services to U.S. users via CDNA—the CFTC-registered exchange operated by Crypto.com. High Roller stated that the collaboration establishes a strong foundation for both parties in the prediction markets arena. Analysts project the prediction market sector could reach $1 trillion by 2030, driven by growing demand for economic, business, and political event contracts. Following the announcement, High Roller’s NYSE-listed stock (ROLR) doubled to $10.77. Prediction markets continue to face regulatory challenges across multiple jurisdictions, with relevant authorities actively advancing compliance efforts.
Kraken Secretly Files for U.S. IPO, Valuation Drops to $13.3 Billion
According to CNBC, Arjun Sethi, Co-CEO of global cryptocurrency exchange Kraken, confirmed on April 14 that the company has confidentially filed for an initial public offering (IPO) with the U.S. Securities and Exchange Commission. This filing follows Kraken’s earlier plan to disclose its IPO intentions in November last year. Data indicates Kraken’s latest valuation stands at approximately $13.3 billion—down sharply from $20 billion in November 2025. Previously, Kraken had paused its IPO plans amid a crypto market downturn.
Earlier reporting noted that Deutsche Börse Group has committed $200 million in exchange for a 1.5% fully diluted equity stake in Kraken.
Market Data
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