Ethereum R1 is a new donation-funded, tokenless Layer 2 rollup designed to offer a decentralized, censorship-resistant, and governance-minimized scaling solution for Ethereum

The S&P 500 rose 0.63% Thursday, boosted by strong Meta and Microsoft earnings, but futures slipped Friday as investors awaited the April jobs report and weighed Apple and Amazon tariff concerns. Gold fell to $3,235 as easing trade tensions cut safe-haven demand; markets await US jobs data for rate cut signals. The Coindesk Indices, which tracks the broader crypto market, rose 2.19%, with Bitcoin and Ether up 2.57% and 2.60%, respectively in the past 24 hours. Trade these markets and more with up to 500x leverage on Bybit MT5 using this 

Today's top performer is AR, which gained 16.8% following CloneX's successful migration to Arweave, sponsored by ArDrive.

Arweave (AR), founded in 2017, is a decentralized network for permanent data storage, using blockweave and Proof of Access to ensure long-term accessibility. It offers 200-year storage for a one-time fee, incentivized by AR tokens for miners. The system connects blocks efficiently to preserve and retrieve data, aiming to create a lasting digital knowledge repository. CloneX has successfully 

 to Arweave for permanent storage, with the support of ArDrive, which sponsored the migration of 100 GB of data. The process is nearly complete, with only Animus remaining to undergo decentralization.

Check out the latest prices, charts, and data of 

 is a new donation-funded, tokenless Layer 2 rollup designed to offer a decentralized, censorship-resistant, and governance-minimized scaling solution for Ethereum. Built on open-source code and the Nethermind Surge stack, it emphasizes credible neutrality, public good funding (with all fees burned after 2030), and infrastructure that remains free from VC control or centralized dependencies.

Yesterday, BTC spot ETFs saw $71.1M in total inflows, with $16M from GBTC and $55.1M from other ETFs.

 $BOOP tokens to active Solana memecoin traders and creators who promote memecoins or Solana dapps on X. To claim, users must connect their Solana wallet or X account and launch a free token. The airdrop arrives in 30 days, but growing the token’s market cap can accelerate the reward.

Beginner

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Ethereum R1 offers a decentralized rollup solution for Ethereum

This article dives into Bitcoin liquid staking protocol Lombard Finance, how LBTC works and how you can stake LBTC through Bybit Web3.

Bitcoin stands as the undisputed giant of the cryptocurrency space, commanding the largest market capitalization. Yet, much of its potential remains untapped, often sitting idle as a store of value rather than actively participating in the thriving 

 ecosystem. Lombard Finance aims to change this narrative by unlocking Bitcoin's utility and integrating it seamlessly into DeFi.

Lombard is built upon Babylon, the innovative Bitcoin staking protocol, and is incubated by Polychain Capital. Lombard’s flagship product, 

 (LST) for BTC. This article explores what Lombard Finance is and how LBTC works, and describes the Lombard ecosystem and how you can stake LBTC through Bybit Web3.

 is a liquid staking protocol that focuses on transforming 

's role in the digital economy. Its core mission is to evolve BTC from simply being a store of value — also viewed as 

 — into a productive asset that actively generates yield and participates within DeFi. Currently, a significant portion of Bitcoin's

 sits idle, lacking the native staking capabilities or cross-chain composability seen with assets such as 

Lombard Finance addresses this shortcoming by building on top of 

, a protocol that supports BTC staking without needing 

 or custodians. Babylon allows Bitcoin's economic weight to secure other 

 (PoS) chains and applications, creating a new yield source for holders. Lombard leverages this foundation to offer LBTC, making staked BTC liquid and usable across the DeFi market.

Lombard’s goal is ambitious: to channel Bitcoin's vast liquidity into DeFi. This could potentially double the ecosystem's 

 (TVL) if even a fraction of available BTC is introduced. Lombard believes this integration will catalyze significant growth and create more sustainable market dynamics by making BTC a core, yield-bearing primitive within DeFi.

Founders and investors of Lombard Finance

Lombard Finance was founded in April 2024 by a team with deep expertise within DeFi, drawing talent from established crypto projects like Polychain, Babylon, Argent, Coinbase and Maple. This collective experience underpins the protocol's design and strategic direction.

The project was notably incubated by Polychain Capital, a prominent crypto investment firm that also led Lombard's $16 million seed funding round (which was 

 in July 2024). This round saw participation from a wide array of significant players in the crypto space — including Babylon, dao5, Franklin Templeton, Foresight Ventures, HTX Ventures, Mirana Ventures, Mantle EcoFund, Nomad Capital, OKX Ventures and Robot Ventures — thus highlighting broad industry confidence in Lombard's vision. Strategic partnerships and contributions from exchanges like

 and Bitget are further bolstering its distribution and liquidity aggregation efforts.

LBTC is Lombard Finance's flagship product — a liquid staking token (LST) that represents Bitcoin staked through the Babylon protocol. Designed as a universal liquid BTC standard, LBTC is fully backed 1:1 by native Bitcoin, ensuring its value is directly tied to the underlying asset.

The token is yield-bearing, capturing rewards generated from securing PoS networks via Babylon staking. Crucially, LBTC remains liquid, meaning holders can freely use it across various DeFi applications — such as 

 and automated vaults — without sacrificing their underlying staked positions or associated yield.

LBTC is also designed for cross-chain compatibility, natively minted on supported blockchains like Ethereum, Base and Sui and using secure infrastructure [such as 

]. This avoids the risks associated with traditional bridging or wrapping methods, thus aiming to provide a more secure and seamless way to utilize Bitcoin across the multichain DeFi ecosystem.

Lombard Finance simplifies the process of putting Bitcoin to work within DeFi through its LBTC token. The mechanism is designed with security and user experience in mind, leveraging the Babylon protocol and a robust Security Consortium.

The core benefit of LBTC lies in its ability to unlock multiple layers of value simultaneously. Holders earn native yield from Babylon staking, potentially accrue additional rewards (such as Lombard Lux points) and gain access to diverse DeFi yield opportunities, all while maintaining the liquidity of their Bitcoin position. This transforms BTC from a static asset into a dynamic, yield-generating component of the DeFi ecosystem.

Lombard Finance is actively building a wide LBTC ecosystem that already boasts over 75 DeFi integrations. Security is foundational, anchored by the 14-member Security Consortium (including prominent names like Galaxy and OKX Ventures) and validating all critical operations alongside audits and bug bounties.

Core infrastructure relies both on Babylon for staking, and on the Chainlink CCIP for secure cross-chain movement, with EigenLayer integration 

. LBTC integrates with leading DeFi applications across lending platforms (e.g., 

) and automated vaults. The platform supports multiple blockchains (including Ethereum, Base, Sui, BNB Chain) and 

 (L2s), positioning LBTC as a versatile cross-chain asset.

Here's how you can stake BTC on Lombard and use LBTC in DeFi and automated vaults.

Lombard Finance (via its LBTC token) offers a compelling way for Bitcoin holders to put their assets into use, earn yield via Babylon staking and gain exposure to the expansive DeFi ecosystem — all while maintaining liquidity. Incubated by Polychain Capital and supported by a robust consortium and growing partner network, Lombard is positioning LBTC as a secure and versatile liquid Bitcoin standard.

It’s easy to participate in the Lombard ecosystem through 

, you can utilize your Bybit Web3 Seed Phrase Wallet to stake BTC and mint 

, Lombard's vault token that represents deposits in automated yield strategies. This provides you with a seamless gateway to access Bitcoin liquid staking and DeFi yields.

Ready to unlock your Bitcoin's potential? 

Intermediate

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Lombard Finance: Polychain-backed Bitcoin liquid staking protocol

The cryptocurrency market has entered a phase reminiscent of past altcoin seasons, primarily driven by Bitcoin's recent rebound to the $94K–$96K range. 

Altcoin season might have come with reviveding speculation 

The cryptocurrency market has entered a phase reminiscent of past altcoin seasons, primarily driven by Bitcoin's recent rebound to the $94K–$96K range. This resurgence has sparked renewed interest among retail traders, shifting focus from Bitcoin to smaller, more speculative altcoins. The overall market saw a 10% increase in value during the final eight days of April, contrasting with Bitcoin's 7% gain. This trend indicates a growing appetite for risk among investors, particularly in meme coins, which have seen a surge in social media discussions.

However, caution is warranted as elevated crowd enthusiasm often precedes market corrections. Historical patterns suggest that when buzzwords like "altseason" are dominating discussions, it may signal an impending price exhaustion. The current market dynamics reflect a shift toward speculative investments, raising concerns about the sustainability of this enthusiasm.

Bitcoin's bullish sentiment substantially improves

Bitcoin's position as the leading cryptocurrency has remained steady, with discussions around its price fluctuating significantly. Following a period of pessimism, when predictions dipped as low as $10K–$69K, sentiment shifted dramatically with the price recovery. Now, optimistic projections of $100K–$159K are dominating conversations, indicating a reversal in trader sentiment.

Despite Bitcoin's consistent presence in market discussions (approximately 25% of asset topics), the ratio of bullish-to-bearish commentary has grown increasingly favorable. This suggests a growing confidence among traders bolstered by Bitcoin's recent performance. However, it’s essential to monitor whether this bullish sentiment translates into sustained investment, or if it leads to overconfidence that may trigger a market pullback.

Ethere, once a robust contender in the altcoin arena, has struggled to regain retail investor confidence despite recent bullish commentary and promises of innovation from co-founder Vitalik Buterin. Its social media presence has dwindled to about 6–7% of discussions, a significant drop from previous years. This decline highlights the challenges Ethereum faces in re-establishing itself as a go-to investment in a market increasingly dominated by speculative assets.

Conversely, XRP has seen a notable increase in optimism surrounding ETF approvals, with expectations rising to 85%. This shift reflects a broader trend of institutional interest in cryptocurrencies, potentially paving the way for significant capital inflows. Meanwhile, Dogecoin's potential ETF listings have sparked renewed interest, transforming its image from that of a meme coin to a legitimate investment option. The growing dialogue surrounding institutional adoption of Dogecoin and XRP indicates a pivotal moment for these assets, suggesting they may play critical roles in the evolving cryptocurrency landscape.

Advanced

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Bybit x Santiment social sentiment report: Altcoin sentiment recovers despite Bitcoin’s resilience

Bybit Spread Trading allows traders to simultaneously buy and sell two related instruments in order to hedge risk or profit from price discrepancies. Read more.

Whether markets are flying high or wobbling unpredictably, one thing remains true: traders are always looking for smarter ways to 

 and find profit opportunities. That’s where Bybit Spread Trading comes in. This feature is tailor-made for those who want to go beyond basic buy/sell plays and start taking advantage of price discrepancies between related instruments. In this guide, we’ll walk through exactly how Bybit Spread Trading works, why it matters and how you can start using it today, whether you’re 

is a newly launched Bybit feature that allows users to simultaneously buy and sell two related instruments — such as Spot, Perpetual or Expiry contracts with different settlement dates — in order to hedge risk or profit from price discrepancies.

This type of trading strategy is popular among institutional and professional traders because it enables more precise, controlled market exposure. However, with Bybit’s interface, the barrier to entry is significantly lowered, opening the door for individual traders to tap with just a few clicks into a powerful set of tools.

At its core, Spread Trading on Bybit is about executing what’s called a combo trade. This means entering two positions at once: one long, one short. These positions are taken on related instruments, such as a BTC Spot trade and a BTC Perpetual contract, with the idea that their prices will either converge or diverge in a way that benefits your position.

When you place a buy combo, you’re buying the instrument with the longer expiration (the “far leg”) and selling the one that expires sooner (the “near leg”). 

A sell combo is the reverse: selling the far leg and buying the near leg. The profit (or loss) comes from how the spread between these two instruments shifts over time.

For example, if you believe the spread between a Perpetual and a Quarterly Futures contract will widen, you can buy the combo. If the spread increases after your entry, that movement becomes your profit. Bybit calculates your 

 prices automatically, based on the mark prices and your defined “order price,” so there’s no need to manually crunch the numbers.

Perhaps the most important feature here is atomic execution. This ensures both sides of your combo trade are filled together, in equal quantities, or the trade doesn’t go through at all. It removes “leg risk,” which is the danger of getting filled on one side of the trade, but not the other. In volatile markets, that alone can save you from an unwanted mess.

Spread Trading on Bybit currently supports combinations such as Spot and Perpetual, Spot and Expiry, Perpetual and Expiry, or even two Expiry contracts with different dates. This flexibility lets you build strategies that align with different market outlooks — bullish, bearish or neutral.

There’s a strong reason why Spread Trading is a go-to for many experienced traders: it allows for strategic plays that are more sophisticated than just guessing price direction. On Bybit, it’s not only powerful, but also convenient.

First, you get price certainty. Your spread is locked in at the price you specify. There’s no 

 between legs because the entry prices are automatically calculated and matched. You’re trading the spread, not the individual legs.

Secondly, the trading experience is smoother. Instead of placing two separate orders and manually trying to sync them, Bybit handles everything as a single transaction. You don’t have to worry about whether one leg gets filled and the other doesn’t — that risk is eliminated through atomic execution.

Third, this setup is a great hedge against volatility. By taking opposing positions on two related contracts, you reduce exposure to sharp price movements. Your P&L becomes more about the relative performance between contracts, rather than the market direction itself.

There’s also a strong cost advantage. Trading spreads on Bybit is significantly cheaper than doing it manually. You pay only half the trading fees you’d incur if you placed two individual trades on the order book. For high-volume or 

, that translates to meaningful savings over time.

Finally, it unlocks strategy flexibility. Whether you're 

 funding rates between Spot and Perpetual, doing 

 with different Futures contracts or taking advantage of price convergence before expiry, this platform gives you the tools to execute those ideas efficiently.

How to get started with Bybit Spread Trading 

Now that you have a better understanding of how Bybit Spread Trading works, let’s look into how to get started. Please note that you’ll need to have a Bybit account in order to proceed. If you don’t already have one, please check out our 

 for more information on how to create a Bybit account.

: Log in to your Bybit account and hover your cursor over the 

: The available spreads are organized in a grid, with each tile representing a unique combo. Choose your preferred combo to trade.

Tiles with a border around them signify that Spread Trading offers a better price. Hover over a tile for more details, or use the bar at the bottom of the grid to explore more options.

On the order placement page, set up your order with the following parameters:

to place your order. A pop-up window will appear for you to confirm your order details. Then, click on 

Congratulations — you’ve successfully placed an order!

You can view your Spread Trading orders from any trading page (Spread Trading, Spot and Futures), as they all share the same order data.

 to view your active orders. You’ll be able to view the combo, underlying asset, order price and more. 

If you would like to adjust your order parameters, you may click on the pencil icon under 

. To cancel your order, simply click on the order’s corresponding 

to view your completed orders. To view each order’s information on each leg, click on the order’s corresponding 

button. For additional insights, click on 

Spread trading isn’t for everyone — but if you’re someone who enjoys strategic trading, hedging or arbitrage, it’s a tool worth adding to your arsenal. It appeals to traders who are less interested in taking a directional bet, and more focused on capitalizing on inefficiencies in the market.

You don’t have to be a pro trader to benefit, either. The simplified execution and intuitive UI mean even intermediate users can explore advanced strategies without being overwhelmed. As long as you understand how spreads work, and how your P&L is affected by their movement, you’re already halfway there.

More importantly, in times of market uncertainty or low volatility — when price action feels sluggish — spread trading gives you an alternative way to profit. It keeps you in the game — even when momentum plays aren’t cutting it.

Bybit Spread Trading is a powerful tool that combines simplicity with sophistication. Whether you're looking to hedge, save on fees or experiment with 

 strategies, it offers a clean and user-friendly way to do so. With lower risk, lower costs and plenty of flexibility, Bybit Spread Trading is a smart move for any trader looking to level up their game — especially when markets get messy.

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Bybit Spread Trading: Smart strategies for market swings

Crypto

The Crypto Travel Rule is established in 2021 to safeguard the integrity of the global financial system by reducing money laundering and terrorist financing risks related to cryptocurrencies.

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 was initially introduced by the Financial Crimes Enforcement Network (FinCEN) as part of funds transfer rules under the U.S. Bank Secrecy Act on May 28, 1996. Itrequired financial institutions to pass on specific information to the next institution in certain funds transmittals involving more than one institution.

In 2018, the Financial Action Task Force (FATF), an intergovernmental global money-laundering (ML) and terrorist financing (TF) watchdog, incorporated the Travel Rule as part of its FATF recommendations for regulating financial activities involving virtual assets.

On Oct 28, 2021 FATF updated its guidance document, first adopted in 2019 for a risk-based approach, to virtual asset and virtual asset service providers. As such, businesses that conduct crypto-related transactions are now subject to the Travel Rule. 

Such a move was inevitable, due to the increased fraud cases and money-laundering accusations surrounding cryptocurrencies such as 

In this guide, we’ll discuss everything you need to know about the Crypto Travel Rule, how it works, and its implications for the cryptocurrency industry.

The FATF Crypto Travel Rule requires crypto companies to obtain “the required and accurate originator and beneficiary information” and pass it on to other counterparty VASPs or financial institutions before or during the transaction of virtual assets

. It further recommends that countries apply the rule for transfers greater than 1,000 USD/EUR.

For a better grasp of how the Travel Rule works, it's vital to get the right definitions as provided by the FATF in its 

A virtual asset (VA) is a digital representation of value that can be digitally traded, transferred or utilized for payment or investment purposes. 

This definition does not encompass digital versions of fiat currencies, securities or NFTs primarily intended for collection purposes, or any other financial assets already addressed elsewhere in the FATF recommendations. 

FATF defines a virtual asset service provider (VASP) as any individual or entity not covered elsewhere under the recommendations and as a business who performs one or more of the following activities for or on behalf of another person:

Under this definition, the following would be considered VASPs:

On the flip side, the following would not be considered VASPs:

Personally Identifiable Information (PII)

Personally identifiable information is any data that can be used, either on its own or in conjunction with other data, to distinguish and pinpoint a particular person's identity.

While the implementation structure may vary from one jurisdiction to the other, PII details generally include:

The objective of providing express definitions of the terms above was to clarify the application of FATF’s standards to VA activities and VASPs.

These objectives aim to create a fair regulatory environment, help jurisdictions reduce ML/TF risks linked to virtual asset activities, and safeguard the integrity of the global financial system.

Crypto Travel Rule Compliance Requirements

As we’ve already discussed, once the set transaction threshold is reached, it activates the Travel Rule, which means the VASP for the sender must share PII with the VASP of the recipient, and vice versa. 

Here are the Travel Rule’s compliance requirements.

The crypto industry has taken a non-uniform approach in enforcing FATF recommendations. Different countries have interpreted and implemented various Travel Rule thresholds, originator and beneficiary information, and enforcement dates. 

 began enforcing the crypto Travel Rule on Jan 28, 2020, while 

For most countries, the Travel Rule is implemented for a threshold of 

, the United States of America implements the same rule for a threshold of 3,000 USD.

This non-uniformity in enforcing the crypto Travel Rule has led to a compliance lag popularly called the“

.” The VASPs who have adhered to the rules may find it difficult to transact with VASPs who have yet to enforce the rules, making compliance hard to achieve.

Does the Travel Rule Apply to Private or Unhosted Wallets?

No. For now, the Travel Rule does not apply to the transactions between a VASP and a private or unhosted wallet (also called a self-hosted wallet). A private wallet is not managed by a third-party financial institution or any other regulated entity.

Due to the nature of open, permissionless and decentralized networks such as Bitcoin’s, there’s no way for a blockchain ledger to validate the accuracy of an account holder’s details, or that the account belongs to the claimant. 

Unlike conventional bank account numbers, which contain numerous personal details of the holder, a Bitcoin address or hash does not contain any.

Additionally, bank accounts are created and managed by a centralized authority. In contrast, virtual asset addresses are created in public networks, unlimited and uncontrolled by a centralized authority or intermediary. Revealing the details behind a private wallet would surpass the Travel Rule requirements.

However, there’s a big possibility that this may change in the future. Certain jurisdictions are working on tighter information transparency regulations for certain types of fund transfers.

On Mar 22, 2022, the European Parliament’s Committee on Economic and Monetary Affairs (ECON) and Committee on Civil Liberties, Justice and Home Affairs (LIBE) voted to 

 that requires relevant authorities to be notified if any entity receives an amount above 1,000 EUR from an unhosted wallet. 

On May 18–20, 2022, the G7 Finance Ministers and Central Bank Governors met with the International Monetary Fund (IMF), World Bank Group, Organisation for Economic Co-operation and Development (OECD) and Financial Stability Board (FSB). Their meeting culminated in a joint agreement on the need for 

 across the globe and more concerted efforts to create better information transparency policies for the crypto industry.

With the world clamoring for more transparent and accountable financial systems, cooperation between relevant global authorities and the pending amendment, the Travel Rule could rope in the private wallet network sooner than expected.

One of the biggest challenges in the crypto industry is a lack of regulatory clarity. The murky, underregulated environment has led to problems with regulators and the loss of institutional financial partnerships.

With the FATF recommendations for VAs, regulators are required to create a well-thought-out regulatory road map for VASPs. The legal frameworks in some countries like the United States, Switzerland and Singapore are perfect examples that show increased regulatory clarity can attract more risk-averse investors.

 (KYC) policies, crypto businesses have long been excluded from accessing traditional banking services. Crypto investors often invest copious amounts of time convincing their banks to open an account for them. 

The Travel Rule applies the same rules banks need to follow for VASPs to reduce the business risk associated with crypto. Furthermore, the counterparty VASP due diligence process enhances quality KYC and anti–money laundering (AML) policies that can open up the crypto industry to the mainstream financial ecosystem. 

Compliance provides increased access to local payment systems across the globe. This not only improves cryptocurrency adoption, but also opens up innovations in the DeFi space.

The non-uniformity of the Travel Rule implementation across various jurisdictions brings about the “Sunrise Challenge.” 

Compliant VASPs may find it challenging to conduct business with other VASPs that have yet to establish a compliance framework, leading to the direct loss of business and potentially profitable partnerships.

The cryptocurrency industry thrives on the very nature of privacy, safety and security of all its transactions. There are concerns that once VASPs share their clients’ personal information, per FATF recommendations, the data may get mined, reused or hacked. 

While there are Travel Rule protocols that utilize encryption and one-way data exchange to minimize security threats, uncertainty remains around the legal pitfalls that the rule brings.

Implementing the Travel Rule may require VASPs to change various system functionalities that form the core of their businesses. These may include back-end changes and modifications of customer-facing UX screens and APIs.

Also, many VASPs may have to implement the rule from scratch, using available solutions to comply with the new KYC requirements for crypto-to-crypto exchanges, which piles up more business costs.

The FATF Travel Rule looks to inhibit criminals, terrorists and sanctioned individuals from using wire transfers to move money illicitly. While it provides numerous benefits, including combating money laundering for a safer financial system globally, it comes with diverse challenges. 

Moving forward, VASPs will likely utilize multiple technological solutions to decrease the inefficiencies associated with the rule and achieve high-quality compliance standards for better and long-term profitability for the crypto community.

What Is the Crypto Travel Rule and How Does It Work?

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